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Repurchase Agreements - Schedule of Borrowings Under Financing Arrangements and Associated Assets Pledged as Collateral (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Outstanding Repurchase Agreements $ 4,602,078 $ 3,516,611
Carrying Value of Repurchase Agreements 4,907,436 4,012,225
Fair Value of Collateral Pledged $ 4,026,027 $ 3,841,738
Weighted Average Months to Maturity 36 days 26 days
Single Family    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Fair Value of Collateral Pledged $ 129,900 $ 134,600
Residential Loans and Real Estate Owned    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Carrying Value of Repurchase Agreements 239,330 428,399
Fair Value of Collateral Pledged 297,700  
Residential Loans    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Fair Value of Collateral Pledged   524,600
Residential loans    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Maximum Aggregate Uncommitted Principal Amount 2,925,000 2,775,000
Outstanding Repurchase Agreements 305,440 496,410
Net Deferred Finance Costs (82) (796)
Fair Value of Collateral Pledged $ 427,669 $ 659,183
Weighted Average Rate 6.44% 6.70%
Weighted Average Months to Maturity 9 years 8 months 12 days 9 years 7 months 20 days
Residential loans | Repurchase agreements    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Carrying Value of Repurchase Agreements $ 305,358 $ 495,614
Residential loans | Repurchase Agreement, Non Mark-to Market    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Outstanding Repurchase Agreements $ 7,100 $ 15,000
Weighted Average Rate 6.70% 7.09%
Weighted Average Months to Maturity 26 months 8 months