CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands		Mar. 31, 2025	Dec. 31, 2024	[2]
Assets
Cash and cash equivalents (includes pledged assets of $1,536,590 and $1,202,880, respectively)	[1]	$ 1,833,528	$ 1,488,027
Securities (includes pledged assets of $63,270,998 and $67,692,062, respectively)	[3]	70,361,364	69,756,447
Loans, net (includes pledged assets of $3,708,202 and $2,754,028, respectively)	[4]	3,860,555	3,546,902
Mortgage servicing rights (includes pledged assets of $2,793,456 and $2,460,252, respectively)		3,272,902	2,909,134
Assets transferred or pledged to securitization vehicles		24,464,281	21,973,188
Derivative assets		67,257	225,351
Receivable for unsettled trades		2,523	2,201,447
Principal and interest receivable		836,946	1,069,038
Intangible assets, net		8,743	9,416
Other assets		407,247	377,434
Total assets		105,115,346	103,556,384
Liabilities
Repurchase agreements		61,659,460	65,688,923
Other secured financing		900,000	750,000
Debt issued by securitization vehicles		21,802,193	19,540,678
Participations issued		1,748,273	1,154,816
U.S. Treasury securities sold, not yet purchased		2,519,125	2,470,629
Derivative liabilities		181,065	59,586
Payable for unsettled trades		2,304,774	308,282
Interest payable		285,858	268,317
Dividends payable		421,637	375,932
Other liabilities		208,453	242,269
Total liabilities		92,030,838	90,859,432
Stockholders’ equity
Preferred stock, par value $0.01 per share, 63,500,000 authorized, issued and outstanding		1,536,569	1,536,569
Common stock, par value $0.01 per share, 1,468,250,000 authorized, 602,338,286 and 578,357,118 issued and outstanding, respectively		6,023	5,784
Additional paid-in capital		25,749,468	25,257,716
Accumulated other comprehensive income (loss)		(787,402)	(1,017,682)
Accumulated deficit		(13,509,942)	(13,173,146)
Total stockholders’ equity		12,994,716	12,609,241
Noncontrolling interests		89,792	87,711
Total equity		13,084,508	12,696,952
Total liabilities and equity		$ 105,115,346	$ 103,556,384

[1] (2)Includes cash of consolidated Variable Interest Entities (“VIEs”) of $3.7 million and $2.8 million at March 31, 2025 and December 31, 2024, respectively.

[2] (1)Derived from the audited consolidated financial statements at December 31, 2024.

[3] (3)Excludes $2.3 billion and $2.2 billion at March 31, 2025 and December 31, 2024, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition. 

[4] (4)Includes $6.3 million and $10.0 million of residential mortgage loans held for sale at March 31, 2025 and December 31, 2024, respectively.