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

Derivative Instruments and Hedging Activities - TBA Contracts (Details)

v3.25.4
Derivative Instruments and Hedging Activities - TBA Contracts (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Derivative Assets    
Derivative [Line Items]    
Notional Amount $ (2,601,018,000) $ (12,757,134,000)
Net carrying value 87,549,000 10,114,000
Derivative Liabilities    
Derivative [Line Items]    
Notional Amount (11,110,701,000) (4,535,756,000)
Net carrying value (4,254,000) (24,897,000)
TBAs    
Derivative [Line Items]    
Notional Amount (4,206,715,000) (4,497,800,000)
Cost Basis (4,185,465,000) (4,493,055,000)
Market Value (4,199,576,000) (4,468,904,000)
TBAs | Derivative Assets    
Derivative [Line Items]    
Notional Amount (5,676,000,000) (34,000,000)
Net carrying value 18,365,000 732,000
TBAs | Derivative Liabilities    
Derivative [Line Items]    
Notional Amount (1,469,285,000) (4,531,800,000)
Net carrying value (4,254,000) (24,883,000)
TBAs | Purchase contracts    
Derivative [Line Items]    
Notional Amount (5,676,000,000) (4,931,800,000)
Cost Basis (5,689,566,000) (4,898,394,000)
Market Value (5,707,931,000) (4,874,996,000)
TBAs | Purchase contracts | Derivative Assets    
Derivative [Line Items]    
Net carrying value 18,365,000 0
TBAs | Purchase contracts | Derivative Liabilities    
Derivative [Line Items]    
Net carrying value 0 (23,398,000)
TBAs | Sale contracts    
Derivative [Line Items]    
Notional Amount (1,469,285,000) (434,000,000)
Cost Basis (1,504,101,000) (405,339,000)
Market Value (1,508,355,000) (406,092,000)
TBAs | Sale contracts | Derivative Assets    
Derivative [Line Items]    
Net carrying value 0 732,000
TBAs | Sale contracts | Derivative Liabilities    
Derivative [Line Items]    
Net carrying value $ (4,254,000) $ (1,485,000)