Counterparty Risk (Tables)

6 Months Ended

Jun. 30, 2025

Risks and Uncertainties [Abstract]

Schedules of Exposure to Counterparty Risk

The following table summarizes the Company's exposure to counterparty risk as of June 30, 2025 and December 31, 2024.

June 30, 2025:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	211,013	9	28.9	%
Collateral on repurchase agreements held by dealers(2)	2,979,858		24	14.7	%
Due from brokers	45,973		15	59.5	%
Receivable for securities sold(3)	6,043		6	57.4	%

(1)Each counterparty is a financial institution that the Company believes to be creditworthy as of June 30, 2025.

(2)Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements.

(3)Included in Investment related receivables on the Condensed Consolidated Balance Sheet.

December 31, 2024:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty
	(In thousands)
Cash and cash equivalents	$	192,387	7	55.4	%
Collateral on repurchase agreements held by dealers(1)	3,271,047		24	18.1	%
Due from brokers	22,186		17	25.5	%
Receivable for securities sold(2)	3,836		5	75.2	%

(1)Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements.

(2)Included in Investment related receivables on the Condensed Consolidated Balance Sheet.