Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Mortgage-backed securities, at fair value (includes pledged assets of $5,209,068 and $3,885,554, respectively)	$ 5,253,310	$ 3,894,012
U.S. Treasury securities, available-for-sale (amortized cost of $100,412 and $148,803; includes pledged assets of $100,551 and $79,680, respectively)	100,551	148,820
Cash and cash equivalents	309,330	171,893
Restricted cash	25,723	28,396
Accrued interest receivable	23,044	14,951
Derivative assets	9,277	6,420
Other assets	392	455
Total Assets	5,721,627	4,264,947
LIABILITIES:
Repurchase agreements	5,025,543	3,705,649
Payable for investment securities and TBA transactions	0	60,454
Dividends payable	9,940	6,222
Derivative liabilities	332	12,694
Accrued interest payable	10,750	7,939
Other liabilities	5,395	1,031
Total Liabilities	5,053,127	3,795,002
COMMITMENTS AND CONTINGENCIES (Note 10)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and December 31, 2023	0	0
Common Stock, $0.01 par value; 100,000,000 shares authorized, 82,622,464 shares issued and outstanding as of December 31, 2024 and 51,636,074 shares issued and outstanding as of December 31, 2023	826	516
Additional paid-in capital	1,010,306	849,845
Accumulated deficit	(342,771)	(380,433)
Accumulated other comprehensive income	139	17
Total Stockholders' Equity	668,500	469,945
Total Liabilities and Stockholders' Equity	5,721,627	4,264,947
Related Party [Member]
LIABILITIES:
Due to affiliates	$ 1,167	$ 1,013