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Residential Whole Loans - LTV on Loans (Details) - Residential whole loans
$ in Thousands
Jun. 30, 2026
USD ($)
Dec. 31, 2025
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB $ 8,983,707 $ 8,989,910
Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 5,684,786 5,322,321
Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 2,198,748 2,510,608
Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,166,676 1,246,745
Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 671,699 732,059
Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 360,373 531,804
Seasoned RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 1,042,205 1,097,698
Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
UPB 57,968 59,283
Financial Asset, Equal to or Greater than 60 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 553,082 571,976
UPB 629,964 639,649
Financial Asset, Equal to or Greater than 60 Days Past Due | Non-QM loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 232,699 218,793
UPB $ 240,855 $ 222,327
LTV (as a percent) 0.66 0.64
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 155,944 $ 155,672
UPB 208,990 203,071
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family rental loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value 28,055 29,967
UPB $ 29,104 $ 31,395
LTV (as a percent) 0.65 0.68
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Single-family transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 77,713 $ 70,821
UPB $ 91,806 $ 84,081
LTV (as a percent) 0.85 0.83
Financial Asset, Equal to or Greater than 60 Days Past Due | Business purpose loans | Multifamily transitional loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 50,176 $ 54,884
UPB $ 88,080 $ 87,595
LTV (as a percent) 1.60 0.68
Financial Asset, Equal to or Greater than 60 Days Past Due | Seasoned RPL/NPL loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 164,439 $ 197,511
UPB $ 180,119 $ 214,251
LTV (as a percent) 0.60 0.60
Financial Asset, Equal to or Greater than 60 Days Past Due | Other loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Carrying Value / Fair Value $ 0 $ 0
UPB $ 0 $ 0
LTV (as a percent) 0 0