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Net Interest Income (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income $ 129,734 $ 83,892
Interest expense 96,636 66,029
Total net interest income 33,098 17,863
Senior unsecured notes    
Senior unsecured notes 4,617 1,626
Subordinated debentures    
Subordinated debentures 951 1,073
Residential loans    
Interest income 11,018 11,689
Consolidated SLST | VIE, Primary Beneficiary    
Interest income 10,740 8,127
Interest expense 6,964 5,801
Residential loans held in securitization trusts    
Interest income 43,241 26,931
Total residential loans    
Interest income 64,999 46,747
Investment securities available for sale    
Investment securities available for sale 61,049 32,903
Multi-family loans    
Interest income 2,580 2,642
Other    
Other 1,106 1,600
Repurchase agreements    
Interest expense 52,489 39,153
Residential loan securitizations    
Interest expense 30,325 18,376
Non-Agency RMBS Re-Securitization    
Interest expense 1,290 0
Total collateralized debt obligations    
Interest expense $ 38,579 $ 24,177