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Residential Whole Loans - Residential Whole Loans, Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount [1],[2] $ 8,767,868 $ 8,810,354 $ 8,767,868 $ 8,810,354
LTV ratio (as a percent)     80.00%  
Residential whole loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 8,767,867 8,810,354 $ 8,767,867 8,810,354
Fair Value 8,770,292 8,820,478 8,770,292 8,820,478
Unpaid Principal Balance (“UPB”) $ 8,983,707 $ 8,989,910 $ 8,983,707 $ 8,989,910
Weighted Average Coupon ( as a percent) 6.85% 6.98% 6.85% 6.98%
LTV ratio (as a percent)     64.00% 64.00%
60+ Days Past Due % 7.00% 7.10% 7.00% 7.10%
Residential whole loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 8,047,256 $ 7,939,119 $ 8,047,256 $ 7,939,119
Residential whole loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 306,487 411,142 306,487 411,142
Residential whole loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 103,708 134,379 103,708 134,379
Residential whole loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 526,256 505,270 526,256 505,270
Residential whole loans | Non-QM loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 5,670,728 5,344,968 5,670,728 5,344,968
Fair Value 5,655,660 5,332,533 5,655,660 5,332,533
Unpaid Principal Balance (“UPB”) $ 5,684,786 $ 5,322,321 $ 5,684,786 $ 5,322,321
Weighted Average Coupon ( as a percent) 6.70% 6.74% 6.70% 6.74%
Weighted Average Term to Maturity (Months)     336 months 337 months
LTV ratio (as a percent)     64.00% 64.00%
Weighted Average Original FICO     740 738
60+ Days Past Due % 4.20% 4.20% 4.20% 4.20%
Gross coupon rate (as a percent) 6.82% 6.88%    
Residential whole loans | Non-QM loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 5,290,874 $ 4,929,485 $ 5,290,874 $ 4,929,485
Residential whole loans | Non-QM loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 153,057 170,509 153,057 170,509
Residential whole loans | Non-QM loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 53,291 47,154 53,291 47,154
Residential whole loans | Non-QM loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 187,564 175,173 187,564 175,173
Residential whole loans | Business purpose loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 2,128,567 2,441,368 2,128,567 2,441,368
Fair Value 2,131,156 2,444,803 2,131,156 2,444,803
Unpaid Principal Balance (“UPB”) $ 2,198,748 $ 2,510,608 $ 2,198,748 $ 2,510,608
Weighted Average Coupon ( as a percent) 8.11% 8.31% 8.11% 8.31%
Weighted Average Term to Maturity (Months)    
LTV ratio (as a percent)     70.00% 66.00%
Weighted Average Original FICO    
60+ Days Past Due % 9.50% 8.10% 9.50% 8.10%
Residential whole loans | Business purpose loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 1,942,655 $ 2,192,525 $ 1,942,655 $ 2,192,525
Residential whole loans | Business purpose loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 47,103 115,012 47,103 115,012
Residential whole loans | Business purpose loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 14,811 39,605 14,811 39,605
Residential whole loans | Business purpose loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 194,179 163,466 194,179 163,466
Residential whole loans | Business purpose loans | Single-family rental loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 1,153,464 1,234,428 1,153,464 1,234,428
Fair Value 1,155,689 1,237,464 1,155,689 1,237,464
Unpaid Principal Balance (“UPB”) $ 1,166,676 $ 1,246,745 $ 1,166,676 $ 1,246,745
Weighted Average Coupon ( as a percent) 6.35% 6.34% 6.35% 6.34%
Weighted Average Term to Maturity (Months)     306 months 311 months
LTV ratio (as a percent)     66.00% 66.00%
Weighted Average Original FICO     741 740
60+ Days Past Due % 2.50% 2.50% 2.50% 2.50%
Gross coupon rate (as a percent) 6.37% 6.37%    
Residential whole loans | Business purpose loans | Single-family rental loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 1,113,690 $ 1,193,041 $ 1,113,690 $ 1,193,041
Residential whole loans | Business purpose loans | Single-family rental loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 23,882 22,309 23,882 22,309
Residential whole loans | Business purpose loans | Single-family rental loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 1,644 4,165 1,644 4,165
Residential whole loans | Business purpose loans | Single-family rental loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 27,460 27,230 27,460 27,230
Residential whole loans | Business purpose loans | Single-family transitional loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 654,221 717,303 654,221 717,303
Fair Value 654,585 717,702 654,585 717,702
Unpaid Principal Balance (“UPB”) $ 671,699 $ 732,059 $ 671,699 $ 732,059
Weighted Average Coupon ( as a percent) 10.09% 10.31% 10.09% 10.31%
Weighted Average Term to Maturity (Months)     6 months 6 months
LTV ratio (as a percent)     68.00% 69.00%
Weighted Average Original FICO     754 750
60+ Days Past Due % 13.70% 11.50% 13.70% 11.50%
Gross coupon rate (as a percent) 10.10% 10.32%    
Residential whole loans | Business purpose loans | Single-family transitional loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 559,111 $ 599,798 $ 559,111 $ 599,798
Residential whole loans | Business purpose loans | Single-family transitional loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 20,782 48,180 20,782 48,180
Residential whole loans | Business purpose loans | Single-family transitional loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 13,167 2,535 13,167 2,535
Residential whole loans | Business purpose loans | Single-family transitional loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 78,639 81,546 78,639 81,546
Residential whole loans | Business purpose loans | Multifamily transitional loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 320,882 489,637 320,882 489,637
Fair Value 320,882 489,637 320,882 489,637
Unpaid Principal Balance (“UPB”) $ 360,373 $ 531,804 $ 360,373 $ 531,804
Weighted Average Coupon ( as a percent) 10.09% 10.17% 10.09% 10.17%
Weighted Average Term to Maturity (Months)     2 months 1 month
LTV ratio (as a percent)     90.00% 64.00%
Weighted Average Original FICO     750 749
60+ Days Past Due % 24.40% 16.50% 24.40% 16.50%
Gross coupon rate (as a percent) 10.10% 10.18%    
Residential whole loans | Business purpose loans | Multifamily transitional loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 269,854 $ 399,686 $ 269,854 $ 399,686
Residential whole loans | Business purpose loans | Multifamily transitional loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 2,439 44,523 2,439 44,523
Residential whole loans | Business purpose loans | Multifamily transitional loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 0 32,905 0 32,905
Residential whole loans | Business purpose loans | Multifamily transitional loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 88,080 54,690 88,080 54,690
Residential whole loans | Seasoned RPL/NPL loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 919,518 972,996 919,518 972,996
Fair Value 934,422 992,120 934,422 992,120
Unpaid Principal Balance (“UPB”) $ 1,042,205 $ 1,097,698 $ 1,042,205 $ 1,097,698
Weighted Average Coupon ( as a percent) 5.07% 5.09% 5.07% 5.09%
Weighted Average Term to Maturity (Months)     241 months 245 months
LTV ratio (as a percent)     53.00% 54.00%
Weighted Average Original FICO     646 646
60+ Days Past Due % 17.30% 19.50% 17.30% 19.50%
Gross coupon rate (as a percent) 5.08% 5.10%    
Residential whole loans | Seasoned RPL/NPL loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 756,263 $ 757,826 $ 756,263 $ 757,826
Residential whole loans | Seasoned RPL/NPL loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 105,823 125,621 105,823 125,621
Residential whole loans | Seasoned RPL/NPL loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 35,606 47,620 35,606 47,620
Residential whole loans | Seasoned RPL/NPL loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 144,513 166,631 144,513 166,631
Residential whole loans | Other loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Asset Amount 49,054 51,022 49,054 51,022
Fair Value 49,054 51,022 49,054 51,022
Unpaid Principal Balance (“UPB”) $ 57,968 $ 59,283 $ 57,968 $ 59,283
Weighted Average Coupon ( as a percent) 3.43% 3.43% 3.43% 3.43%
Weighted Average Term to Maturity (Months)     302 months 308 months
LTV ratio (as a percent)     62.00% 63.00%
Weighted Average Original FICO     757 757
60+ Days Past Due % 0.00% 0.00% 0.00% 0.00%
Residential whole loans | Other loans | Current        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 57,464 $ 59,283 $ 57,464 $ 59,283
Residential whole loans | Other loans | 30-59        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 504 0 504 0
Residential whole loans | Other loans | 60-89        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) 0 0 0 0
Residential whole loans | Other loans | 90 or more        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unpaid Principal Balance (“UPB”) $ 0 $ 0 $ 0 $ 0
[1] Includes approximately $7.2 billion and $7.6 billion of Residential whole loans transferred to consolidated variable interest entities (“VIEs”) at June 30, 2026 and December 31, 2025, respectively. Such assets can be used only to settle the obligations of each respective VIE.
[2] See Note 6 for information regarding the Company’s pledged assets.