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Fair Value of Financial Instruments - Level 3 Assets (Details) - Recurring basis - Level 3 - Residential whole loans, at fair value - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period $ 7,689,431 $ 7,478,930 $ 7,665,985 $ 7,459,137
Purchases and originations 646,990 641,130 1,247,763 1,146,821
Draws 84,858 103,681 155,220 204,851
Changes in fair value recorded in Net gain/(loss) on residential whole loans measured at fair value through earnings (13,570) 41,603 (48,053) 94,503
Repayments (557,475) (590,099) (1,063,779) (1,139,317)
Loan sales and repurchases (103,342) (68,497) (186,531) (138,849)
Transfer to REO (30,881) (29,570) (54,594) (49,968)
Balance at end of period $ 7,716,011 $ 7,577,178 $ 7,716,011 $ 7,577,178