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Net Interest Income (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income $ 108,361 $ 65,195 $ 283,027 $ 179,871
Interest expense 88,124 48,406 225,883 130,145
Total net interest income 20,237 16,789 57,144 49,726
Senior unsecured notes        
Senior unsecured notes 3,001 1,620 6,303 4,852
Subordinated debentures        
Subordinated debentures 1,081 1,078 3,225 3,063
Residential loans        
Interest income 16,237 11,574 39,723 40,817
Consolidated SLST | VIE, Primary Beneficiary        
Interest income 11,002 8,370 28,284 25,543
Interest expense 7,375 5,957 19,928 18,238
Residential loans held in securitization trusts        
Interest income 31,833 24,183 88,866 74,041
Total residential loans        
Interest income 59,072 44,127 156,873 140,401
Investment securities available for sale        
Investment securities available for sale 44,431 17,203 112,785 27,862
Multi-family loans        
Interest income 2,646 2,712 7,957 7,890
Other        
Other 2,212 1,153 5,412 3,718
Repurchase agreements        
Interest expense 52,326 24,169 133,059 54,084
Financing VIEs        
Interest expense 23,435 15,582 62,462 49,908
Non-Agency RMBS Re-Securitization        
Interest expense 906 0 906 0
Total collateralized debt obligations        
Interest expense $ 31,716 $ 21,539 $ 83,296 $ 68,146