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Repurchase Agreements and Warehouse Facilities - Schedule of Repurchase Agreements Secured by Investment Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets Sold under Agreements to Repurchase [Line Items]    
Outstanding Repurchase Agreements $ 6,100,691 $ 3,516,611
Fair Value of Collateral Pledged 4,256,683 3,841,738
Agency RMBS, Non-Agency RMBS And U.S. Treasury Securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Outstanding Repurchase Agreements 6,100,691 3,516,611
Fair Value of Collateral Pledged 6,345,405 3,676,585
Amortized Cost of Collateral Pledged 6,262,373 3,729,642
Agency RMBS, Non-Agency RMBS And U.S. Treasury Securities | Collateral Pledged    
Assets Sold under Agreements to Repurchase [Line Items]    
Restricted cash 700 11,800
Agency RMBS    
Assets Sold under Agreements to Repurchase [Line Items]    
Outstanding Repurchase Agreements 5,903,078 2,830,925
Fair Value of Collateral Pledged 6,136,353 2,975,400
Amortized Cost of Collateral Pledged 6,055,555 2,995,820
Non-Agency RMBS    
Assets Sold under Agreements to Repurchase [Line Items]    
Outstanding Repurchase Agreements 18,482 50,622
Fair Value of Collateral Pledged 27,662 67,352
Amortized Cost of Collateral Pledged 27,073 64,375
Non-Agency RMBS | Consolidated SLST    
Assets Sold under Agreements to Repurchase [Line Items]    
Amortized Cost of Collateral Pledged 22,000 20,600
U.S. Treasury securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Outstanding Repurchase Agreements 179,131 635,064
Fair Value of Collateral Pledged 181,390 633,833
Amortized Cost of Collateral Pledged $ 179,745 $ 669,447