Mortgage-Backed Securities - Summary of Present Amortized Cost, Fair Value and Unrealized Gain/Losses of Company's MBS Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	$ 5,541,555	$ 5,639,116
Total Premium	205,238	204,514
Total Discount	(805,433)	(815,686)
Amortized Cost	1,678,825	1,553,455
Allowance for Credit Loss	(31,785)	(28,397)	$ (19,907)	$ (18,560)
Fair Value	1,716,175	1,583,387
Gross Unrealized Gains	198,998	200,396
Gross Unrealized Losses	(129,863)	(142,067)
Net Unrealized Gain/(Loss)	69,135	58,329
Non-Agency RMBS - Senior
Debt Securities, Available-for-sale [Line Items]
Total Premium	23,978	21,356
Total Discount	(544,135)	(550,352)
Amortized Cost	474,229	481,132
Allowance for Credit Loss	(29,016)	(25,472)
Fair Value	601,108	614,493
Gross Unrealized Gains	161,398	164,600
Gross Unrealized Losses	(5,503)	(5,767)
Net Unrealized Gain/(Loss)	155,895	158,833
Non-Agency RMBS - Senior | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	994,386	1,010,128
Gross Unrealized Gains	161,398	164,600
Gross Unrealized Losses	(5,503)	(5,767)
Non-Agency RMBS - Subordinated
Debt Securities, Available-for-sale [Line Items]
Total Premium	3,122	3,234
Total Discount	(261,119)	(265,211)
Amortized Cost	385,319	387,000
Allowance for Credit Loss	(2,769)	(2,925)
Fair Value	377,585	376,341
Gross Unrealized Gains	21,178	20,167
Gross Unrealized Losses	(26,143)	(27,901)
Net Unrealized Gain/(Loss)	(4,965)	(7,734)
Non-Agency RMBS - Subordinated | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	643,316	648,977
Gross Unrealized Gains	21,178	20,167
Gross Unrealized Losses	(26,143)	(27,901)
Non-Agency RMBS - Interest-only
Debt Securities, Available-for-sale [Line Items]
Total Premium	151,549	153,571
Total Discount	0	0
Amortized Cost	151,549	153,571
Allowance for Credit Loss	0	0
Fair Value	81,147	73,335
Gross Unrealized Gains	14,364	13,164
Gross Unrealized Losses	(84,766)	(93,400)
Net Unrealized Gain/(Loss)	(70,402)	(80,236)
Non-Agency RMBS - Interest-only | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	2,589,059	2,644,741
Gross Unrealized Gains	14,364	13,164
Gross Unrealized Losses	(84,766)	(93,400)
Pass-through
Debt Securities, Available-for-sale [Line Items]
Total Premium	808
Total Discount	0
Amortized Cost	150,228
Allowance for Credit Loss	0
Fair Value	149,497
Gross Unrealized Gains	0
Gross Unrealized Losses	(731)
Net Unrealized Gain/(Loss)	(731)
Pass-through | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	149,420
Gross Unrealized Gains	0
Gross Unrealized Losses	(731)
Agency RMBS - CMO
Debt Securities, Available-for-sale [Line Items]
Total Premium	0	5
Total Discount	(179)	(123)
Amortized Cost	450,844	464,522
Allowance for Credit Loss	0	0
Fair Value	449,446	461,656
Gross Unrealized Gains	25	106
Gross Unrealized Losses	(1,423)	(2,972)
Net Unrealized Gain/(Loss)	(1,398)	(2,866)
Agency RMBS - CMO | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	451,023	464,640
Gross Unrealized Gains	25	106
Gross Unrealized Losses	(1,423)	(2,972)
Agency RMBS - Interest-only
Debt Securities, Available-for-sale [Line Items]
Total Premium	19,267	19,594
Total Discount	0	0
Amortized Cost	19,267	19,594
Allowance for Credit Loss	0	0
Fair Value	15,852	16,784
Gross Unrealized Gains	682	1,410
Gross Unrealized Losses	(4,097)	(4,220)
Net Unrealized Gain/(Loss)	(3,415)	(2,810)
Agency RMBS - Interest-only | Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	379,113	380,311
Gross Unrealized Gains	682	1,410
Gross Unrealized Losses	(4,097)	(4,220)
Agency CMBS - Project loans
Debt Securities, Available-for-sale [Line Items]
Total Premium	619	620
Total Discount	0	0
Amortized Cost	41,494	41,502
Allowance for Credit Loss	0	0
Fair Value	35,002	34,370
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6,492)	(7,132)
Net Unrealized Gain/(Loss)	(6,492)	(7,132)
Agency CMBS - Project loans | Commercial Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	40,875	40,882
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6,492)	(7,132)
Agency CMBS - Interest-only
Debt Securities, Available-for-sale [Line Items]
Total Premium	5,895	6,134
Total Discount	0	0
Amortized Cost	5,895	6,134
Allowance for Credit Loss	0	0
Fair Value	6,538	6,408
Gross Unrealized Gains	1,351	949
Gross Unrealized Losses	(708)	(675)
Net Unrealized Gain/(Loss)	643	274
Agency CMBS - Interest-only | Commercial Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Principal or Notional Value	294,363	449,437
Gross Unrealized Gains	1,351	949
Gross Unrealized Losses	$ (708)	$ (675)