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Residential Whole Loans - Net Gain/(Loss) on Residential Whole Loans Measured at Fair Value Through Earnings (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Financing Receivable, Allowance for Credit Loss [Line Items]        
Total $ (45,480) $ 23,799 $ (84,613) $ 74,449
Residential whole loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (21,016) 33,611 (55,777) 87,991
Realized credit losses, net of recoveries (24,464) (9,812) (28,836) (13,542)
Total (45,480) 23,799 (84,613) 74,449
Residential whole loans | Non-QM loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (22,900) 28,122 (42,284) 73,318
Realized credit losses, net of recoveries (396) (649) (547) (785)
Residential whole loans | Business purpose loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) 4,334 6,070 (6,258) 12,818
Realized credit losses, net of recoveries (23,342) (8,579) (27,040) (12,117)
Residential whole loans | Business purpose loans | Single-family rental loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (2,202) 11,178 (751) 29,010
Realized credit losses, net of recoveries (574) (3,148) (600) (4,344)
Residential whole loans | Business purpose loans | Single-family transitional loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (1,562) (5,568) (3,669) (14,717)
Realized credit losses, net of recoveries (1,110) (1,351) (4,435) (3,524)
Residential whole loans | Business purpose loans | Multifamily transitional loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) 8,098 460 (1,838) (1,475)
Realized credit losses, net of recoveries (21,658) (4,080) (22,005) (4,249)
Residential whole loans | Seasoned RPL/NPL loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (2,067) (834) (6,640) 114
Realized credit losses, net of recoveries (726) (584) (1,249) (640)
Residential whole loans | Other loans        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Fair value realized and unrealized gain/(loss) (383) 253 (595) 1,741
Realized credit losses, net of recoveries $ 0 $ 0 $ 0 $ 0