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Derivative Instruments - Activity of Derivative Instruments Not Designated as Hedges (Details) - Trading - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest rate caps        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance $ 45,142 $ 536,904 $ 45,142 $ 550,025
Additions/ Transfers In 0 29,000 45,142 177,044
Terminations/Pair-Offs 0 (302,762) (45,142) (463,927)
Ending balance 45,142 263,142 45,142 263,142
Options        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance 160 100 0 0
Additions/ Transfers In 92 180 252 382
Terminations/Pair-Offs (252) (200) (252) (302)
Ending balance 0 80 0 80
TBAs        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance 0   0  
Additions/ Transfers In 20,000   20,000  
Terminations/Pair-Offs (10,000)   (10,000)  
Ending balance 10,000   10,000  
Interest rate swaps        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance 4,494,376 3,376,745 4,134,267 2,778,015
Additions/ Transfers In 671,166 189,244 2,255,335 1,093,424
Terminations/Pair-Offs (298,325) (593,959) (1,522,385) (899,409)
Ending balance 4,867,217 2,972,030 4,867,217 2,972,030
Credit default swaps        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance 400,000 400,000 400,000 0
Additions/ Transfers In 75,000 0 75,000 400,000
Terminations/Pair-Offs 0 0 0 0
Ending balance 475,000 400,000 475,000 400,000
U.S. Treasury futures        
Derivative Instruments and Hedging Activities Disclosures [Roll Forward]        
Beginning balance 112,500 25,300 406,100 0
Additions/ Transfers In 356,900 218,200 469,400 498,950
Terminations/Pair-Offs (221,900) (176,500) (628,000) (431,950)
Ending balance $ 247,500 $ 67,000 $ 247,500 $ 67,000