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Investments in unconsolidated equity method affiliates - Summarized Statements of Operations (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]      
Interest income $ 480,330 $ 408,495  
Interest expense 403,797 342,603  
Total Net Interest Income 76,533 65,892  
Net realized gain/(loss) (11,083) (2,918)  
Net unrealized gain/(loss) 20,853 16,956  
Total Other Income/(Loss) 13,217 21,655  
Net Income/(Loss) 48,668 55,737  
Equity in earnings/(loss) from affiliates 2,821 3,141  
Arc Home      
Schedule of Equity Method Investments [Line Items]      
Equity in earnings/(loss) from affiliates 4,125    
Arc Home | ARC Home      
Schedule of Equity Method Investments [Line Items]      
Equity in earnings/(loss) from affiliates 400 1,100  
Non-QM Loans      
Schedule of Equity Method Investments [Line Items]      
Equity in earnings/(loss) from affiliates (1,167)    
Re/Non-Performing Securities      
Schedule of Equity Method Investments [Line Items]      
Equity in earnings/(loss) from affiliates (137)    
Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Schedule of Equity Method Investments [Line Items]      
Interest income 34,438 28,340  
Interest expense 24,258 19,486  
Total Net Interest Income 10,180 8,854  
Net realized gain/(loss) 43,012 22,321  
Net unrealized gain/(loss) (3,725) 9,656  
Other income/(loss), net 7,777 15,874  
Total Other Income/(Loss) 47,064 47,851  
Expenses 52,438 45,755  
Net Income/(Loss) 4,806 $ 10,950  
Arc Home      
Schedule of Equity Method Investments [Line Items]      
Interest income 29,246    
Interest expense 24,252    
Total Net Interest Income 4,994    
Net realized gain/(loss) 43,012    
Net unrealized gain/(loss) 4,008    
Other income/(loss), net 7,777    
Total Other Income/(Loss) 54,797    
Expenses 51,903    
Net Income/(Loss) $ 7,888    
Loan securitization, ownership interest 66.00% 44.60%  
Valuation multiple 1.025 0.95 0.89
Non-QM Loans      
Schedule of Equity Method Investments [Line Items]      
Interest income $ 4,812    
Interest expense 0    
Total Net Interest Income 4,812    
Net realized gain/(loss) 0    
Net unrealized gain/(loss) (6,969)    
Other income/(loss), net 0    
Total Other Income/(Loss) (6,969)    
Expenses 335    
Net Income/(Loss) $ (2,492)    
Loan securitization, ownership interest 47.00% 47.00%  
Re/Non-Performing Securities      
Schedule of Equity Method Investments [Line Items]      
Interest income $ 380    
Interest expense 6    
Total Net Interest Income 374    
Net realized gain/(loss) 0    
Net unrealized gain/(loss) (764)    
Other income/(loss), net 0    
Total Other Income/(Loss) (764)    
Expenses 200    
Net Income/(Loss) $ (590)    
Loan securitization, ownership interest 26.10% 22.70%