Mortgage-Backed Securities - Maturities of MBS by Estimated Weighted Average Life Classification (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Fair value
Less than one year, at fair value	$ 17,370	$ 21,561
Greater than one year and less than five years, at fair value	210,428	192,406
Greater than five years and less than ten years, at fair value	982,386	490,297
Greater than ten years, at fair value	505,991	879,123
Total maturities, at fair value	1,716,175	1,583,387
Amortized cost
Less than one year, at amortized cost	31,884	38,895
Greater than one year and less than five years, at amortized cost	246,585	219,293
Greater than five years and less than ten years, at amortized cost	438,067	470,032
Greater than ten years, at amortized cost	962,290	825,235
Amortized Cost	1,678,825	1,553,455
Non-Agency RMBS - Senior
Fair value
Less than one year, at fair value	13,056	16,171
Greater than one year and less than five years, at fair value	78,471	66,384
Greater than five years and less than ten years, at fair value	222,488	251,104
Greater than ten years, at fair value	287,093	280,834
Total maturities, at fair value	601,108	614,493
Amortized cost
Less than one year, at amortized cost	12,056	13,760
Greater than one year and less than five years, at amortized cost	79,310	60,686
Greater than five years and less than ten years, at amortized cost	174,713	204,530
Greater than ten years, at amortized cost	208,150	202,156
Amortized Cost	474,229	481,132
Non-Agency RMBS - Subordinated
Fair value
Less than one year, at fair value	297	494
Greater than one year and less than five years, at fair value	85,223	81,838
Greater than five years and less than ten years, at fair value	133,978	132,286
Greater than ten years, at fair value	158,087	161,723
Total maturities, at fair value	377,585	376,341
Amortized cost
Less than one year, at amortized cost	606	784
Greater than one year and less than five years, at amortized cost	80,327	77,210
Greater than five years and less than ten years, at amortized cost	136,268	135,147
Greater than ten years, at amortized cost	168,119	173,859
Amortized Cost	385,319	387,000
Non-Agency RMBS - Interest-only
Fair value
Less than one year, at fair value	169	171
Greater than one year and less than five years, at fair value	29,169	25,717
Greater than five years and less than ten years, at fair value	49,252	44,751
Greater than ten years, at fair value	2,557	2,696
Total maturities, at fair value	81,147	73,335
Amortized cost
Less than one year, at amortized cost	15,094	18,060
Greater than one year and less than five years, at amortized cost	65,914	61,959
Greater than five years and less than ten years, at amortized cost	66,173	68,306
Greater than ten years, at amortized cost	4,368	5,246
Amortized Cost	151,549	153,571
Pass-through
Fair value
Less than one year, at fair value	0
Greater than one year and less than five years, at fair value	0
Greater than five years and less than ten years, at fair value	126,245
Greater than ten years, at fair value	23,252
Total maturities, at fair value	149,497
Amortized cost
Less than one year, at amortized cost	0
Greater than one year and less than five years, at amortized cost	0
Greater than five years and less than ten years, at amortized cost	0
Greater than ten years, at amortized cost	150,228
Amortized Cost	150,228
Agency RMBS - CMO
Fair value
Less than one year, at fair value	0	0
Greater than one year and less than five years, at fair value	0	0
Greater than five years and less than ten years, at fair value	449,446	62,156
Greater than ten years, at fair value	0	399,500
Total maturities, at fair value	449,446	461,656
Amortized cost
Less than one year, at amortized cost	0	0
Greater than one year and less than five years, at amortized cost	0	0
Greater than five years and less than ten years, at amortized cost	60,913	62,050
Greater than ten years, at amortized cost	389,931	402,472
Amortized Cost	450,844	464,522
Agency RMBS - Interest-only
Fair value
Less than one year, at fair value	3,838	4,708
Greater than one year and less than five years, at fair value	12,014	12,076
Greater than five years and less than ten years, at fair value	0	0
Greater than ten years, at fair value	0	0
Total maturities, at fair value	15,852	16,784
Amortized cost
Less than one year, at amortized cost	3,938	6,101
Greater than one year and less than five years, at amortized cost	15,329	13,493
Greater than five years and less than ten years, at amortized cost	0	0
Greater than ten years, at amortized cost	0	0
Amortized Cost	19,267	19,594
Agency CMBS - Project loans
Fair value
Less than one year, at fair value	0	0
Greater than one year and less than five years, at fair value	0	0
Greater than five years and less than ten years, at fair value	0	0
Greater than ten years, at fair value	35,002	34,370
Total maturities, at fair value	35,002	34,370
Amortized cost
Less than one year, at amortized cost	0	0
Greater than one year and less than five years, at amortized cost	0	0
Greater than five years and less than ten years, at amortized cost	0	0
Greater than ten years, at amortized cost	41,494	41,502
Amortized Cost	41,494	41,502
Agency CMBS - Interest-only
Fair value
Less than one year, at fair value	10	17
Greater than one year and less than five years, at fair value	5,551	6,391
Greater than five years and less than ten years, at fair value	977	0
Greater than ten years, at fair value	0	0
Total maturities, at fair value	6,538	6,408
Amortized cost
Less than one year, at amortized cost	189	189
Greater than one year and less than five years, at amortized cost	5,706	5,945
Greater than five years and less than ten years, at amortized cost	0	0
Greater than ten years, at amortized cost	0	0
Amortized Cost	$ 5,895	$ 6,134