Quarterly report [Sections 13 or 15(d)]

Financing - Repurchase Agreements (Details)

v3.25.3
Financing - Repurchase Agreements (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Repurchase agreements $ 7,104,650 $ 7,805,057
Weighted average days to maturity 109 days 94 days
Weighted average borrowing rate 4.61% 5.15%
Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 2,236,050 $ 2,377,824
30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 710,820 2,316,237
60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 3,504 1,305,113
90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 967,433 759,177
120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 3,016,843 366,706
One year and over    
Debt Instrument [Line Items]    
Repurchase agreements 170,000 680,000
Agency RMBS    
Debt Instrument [Line Items]    
Repurchase agreements $ 6,256,604 $ 7,044,857
Weighted average days to maturity 89 days 49 days
Weighted average borrowing rate 4.29% 4.90%
Agency RMBS | Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 2,232,383 $ 2,373,562
Agency RMBS | 30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 608,474 2,316,237
Agency RMBS | 60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 1,304,175
Agency RMBS | 90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 967,433 759,177
Agency RMBS | 120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 2,448,314 291,706
Agency RMBS | One year and over    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Non-Agency    
Debt Instrument [Line Items]    
Repurchase agreements $ 0 $ 207
Weighted average days to maturity 0 days 66 days
Weighted average borrowing rate 0.00% 5.39%
Non-Agency | Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 0 $ 0
Non-Agency | 30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Non-Agency | 60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 207
Non-Agency | 90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Non-Agency | 120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Non-Agency | One year and over    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Inverse interest-only securities    
Debt Instrument [Line Items]    
Repurchase agreements $ 106,542 $ 4,993
Weighted average days to maturity 31 days 17 days
Weighted average borrowing rate 4.69% 5.31%
Inverse interest-only securities | Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 3,667 $ 4,262
Inverse interest-only securities | 30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 102,346 0
Inverse interest-only securities | 60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 731
Inverse interest-only securities | 90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Inverse interest-only securities | 120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 529 0
Inverse interest-only securities | One year and over    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Servicing Rights    
Debt Instrument [Line Items]    
Repurchase agreements $ 738,000 $ 755,000
Weighted average days to maturity 286 days 520 days
Weighted average borrowing rate 7.35% 7.44%
Mortgage Servicing Rights | Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 0 $ 0
Mortgage Servicing Rights | 30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Servicing Rights | 60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Servicing Rights | 90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Servicing Rights | 120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 568,000 75,000
Mortgage Servicing Rights | One year and over    
Debt Instrument [Line Items]    
Repurchase agreements 170,000 680,000
Mortgage Loans Held-for-Sale    
Debt Instrument [Line Items]    
Repurchase agreements $ 3,504 $ 0
Weighted average days to maturity 86 days 0 days
Weighted average borrowing rate 6.28% 0.00%
Mortgage Loans Held-for-Sale | Within 30 days    
Debt Instrument [Line Items]    
Repurchase agreements $ 0 $ 0
Mortgage Loans Held-for-Sale | 30 to 59 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Loans Held-for-Sale | 60 to 89 days    
Debt Instrument [Line Items]    
Repurchase agreements 3,504 0
Mortgage Loans Held-for-Sale | 90 to 119 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Loans Held-for-Sale | 120 to 364 days    
Debt Instrument [Line Items]    
Repurchase agreements 0 0
Mortgage Loans Held-for-Sale | One year and over    
Debt Instrument [Line Items]    
Repurchase agreements $ 0 $ 0