TWO Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Cover
- Cover
- Audit Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Basis of Presentation and Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Available-for-Sale Securities, at Fair Value - Amortized Cost and Carrying Value of AFS Securities (Details)

v3.25.4

Available-for-Sale Securities, at Fair Value - Amortized Cost and Carrying Value of AFS Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]
Principal/ Current Face	$ 7,173,967	$ 8,567,184
Un-amortized Premium	140,630	167,214
Accretable Purchase Discount	(24,913)	(71,132)
Amortized Cost	6,516,016	7,697,027
Allowance for Credit Losses	(1,609)	(2,866)
Unrealized Gain	44,683	3,506
Unrealized Loss	(44,619)	(325,956)
Carrying Value	6,514,471	7,371,711
Total Agency
Debt Securities, Available-for-sale [Line Items]
Principal/ Current Face	6,715,227	8,063,260
Un-amortized Premium	137,319	163,490
Accretable Purchase Discount	(24,900)	(71,116)
Amortized Cost	6,512,208	7,692,748
Allowance for Credit Losses	(1,319)	(2,386)
Unrealized Gain	44,513	3,262
Unrealized Loss	(44,190)	(325,647)
Carrying Value	6,511,212	7,367,977
Principal and interest
Debt Securities, Available-for-sale [Line Items]
Principal/ Current Face	6,399,789	7,600,374
Un-amortized Premium	118,427	135,743
Accretable Purchase Discount	(24,900)	(71,116)
Amortized Cost	6,493,316	7,665,001
Allowance for Credit Losses	0	0
Unrealized Gain	44,091	2,789
Unrealized Loss	(43,117)	(321,829)
Carrying Value	6,494,290	7,345,961
Interest-only
Debt Securities, Available-for-sale [Line Items]
Principal/ Current Face	315,438	462,886
Un-amortized Premium	18,892	27,747
Accretable Purchase Discount	0	0
Amortized Cost	18,892	27,747
Allowance for Credit Losses	(1,319)	(2,386)
Unrealized Gain	422	473
Unrealized Loss	(1,073)	(3,818)
Carrying Value	16,922	22,016
Non-Agency
Debt Securities, Available-for-sale [Line Items]
Principal/ Current Face	458,740	503,924
Un-amortized Premium	3,311	3,724
Accretable Purchase Discount	(13)	(16)
Amortized Cost	3,808	4,279
Allowance for Credit Losses	(290)	(480)
Unrealized Gain	170	244
Unrealized Loss	(429)	(309)
Carrying Value	$ 3,259	$ 3,734

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