Loans Held for Investment - Loan Products Type and Characteristics (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 1,742,907	$ 1,776,336
Total Principal	$ 11,292,225	$ 11,659,420
Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	13.00%	13.20%
Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	15.50%	15.20%
Bankruptcy | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 193,934	$ 177,592
Bankruptcy | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	1.30%	1.40%
Bankruptcy | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	1.70%	1.50%
Foreclosure | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 315,528	$ 300,575
Foreclosure | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	3.10%	2.90%
Foreclosure | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	2.80%	2.60%
REO | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 37,369	$ 36,811
REO | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	0.60%	0.60%
REO | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	0.30%	0.30%
30 Days Delinquent | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 708,565	$ 733,298
30 Days Delinquent | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	4.10%	4.30%
30 Days Delinquent | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	6.30%	6.30%
60 Days Delinquent | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 232,938	$ 233,982
60 Days Delinquent | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	1.50%	1.50%
60 Days Delinquent | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	2.10%	2.00%
90+ Days Delinquent | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
Outstanding balance past due	$ 254,573	$ 294,078
90+ Days Delinquent | Non-Agency RMBS
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	2.50%	2.50%
90+ Days Delinquent | Non-Agency RMBS | Residential Portfolio Segment
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]
% of Unpaid Principal Balance	2.30%	2.50%