v3.25.4
Repurchase Agreements and Warehouse Facilities - Borrowings Under Financing Arrangements and Associated Assets Pledged as Collateral (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]        
Outstanding Repurchase Agreements $ 6,154,086 $ 3,516,611    
Carrying Value of Repurchase Agreements and Warehouse Facilities 6,753,417 4,012,225    
Fair Value of Collateral Pledged $ 4,438,882 $ 3,841,738 $ 3,084,303 $ 3,525,080
Weighted average months to maturity 31 days 26 days    
Single-Family Rental - Operating        
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]        
Fair Value of Collateral Pledged $ 116,800 $ 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 and Warehouse Facilities 462,127 428,399    
Fair Value of Collateral Pledged 538,400      
Residential Loans        
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]        
Fair Value of Collateral Pledged   524,600    
Residential loans held for sale        
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]        
Carrying Value of Repurchase Agreements and Warehouse Facilities 73,446 0    
Fair Value of Collateral Pledged 78,000      
Residential loans        
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]        
Maximum Aggregate Uncommitted Principal Amount 3,225,000 2,775,000    
Outstanding Repurchase Agreements 599,392 496,410    
Net Deferred Finance Costs (61) (796)    
Carrying Value of Repurchase Agreements and Warehouse Facilities 599,331 495,614    
Fair Value of Collateral Pledged $ 733,202 $ 659,183    
Weighted Average Rate 5.80% 6.70%    
Weighted average months to maturity 5 years 10 months 9 days 9 years 7 months 20 days