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Repurchase Agreements - Narrative (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
USD ($)
counterparty
Dec. 31, 2024
USD ($)
counterparty
Jun. 30, 2024
USD ($)
Assets Sold under Agreements to Repurchase [Line Items]      
Cash and cash equivalents $ 160,447 $ 167,422 $ 235,514
Securities borrowed $ 272,533    
Number of counterparties with amounts outstanding under repurchase agreements | counterparty 12 9  
Repurchase agreements, number of counterparties | counterparty 5    
Financings under repurchase agreements, aggregate outstanding balance $ 298,300    
Accrued interest payable $ 30,600 $ 28,400  
Weighted average advance rate 96.10% 96.00%  
Average interest rate haircut 3.90% 4.00%  
Average days to maturity 36 days 26 days  
Weighted average interest rate 4.49% 4.84%  
Residential Loans      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities borrowed $ 78,700    
Number of counterparties with amounts outstanding under repurchase agreements | counterparty 6    
Residential Loans, Real Estate Owned and Single-Family Rental Properties      
Assets Sold under Agreements to Repurchase [Line Items]      
Accrued interest payable $ 1,500 $ 2,500  
Agency RMBS      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities borrowed $ 231,746    
Average interest rate haircut 3.80%    
Non-Agency RMBS      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities borrowed $ 39,002    
Average interest rate haircut 32.40%    
U.S. Treasury securities      
Assets Sold under Agreements to Repurchase [Line Items]      
Securities borrowed $ 1,785    
Average interest rate haircut 1.40%    
Repurchase Agreements      
Assets Sold under Agreements to Repurchase [Line Items]      
Cash and cash equivalents $ 156,100    
Securities borrowed $ 272,500    
Atlas SP      
Assets Sold under Agreements to Repurchase [Line Items]      
Repurchase agreement percentage at risk 5.41%