XML 39 R26.htm IDEA: XBRL DOCUMENT

Note 2 - Mortgage-backed Securities and U.S. Treasury Securities, at Fair Value (Tables)

9 Months Ended

Sep. 30, 2025

Notes Tables

Marketable Securities [Table Text Block]

(in thousands)
		*September 30, 2025*												*December 31, 2024*
		*Par Value*				Cost⁽¹⁾				*Fair Value*				*Par Value*				Cost⁽¹⁾				*Fair Value*
Pass-Through RMBS Certificates:
Fixed-rate Mortgages		$	8,253,714			$	8,421,372			$	8,341,899			$	5,431,274			$	5,540,596			$	5,237,812
Total Pass-Through Certificates			8,253,714				8,421,372				8,341,899				5,431,274				5,540,596				5,237,812
Structured RMBS Certificates:
Interest-Only Securities⁽²⁾			n/a				15,868				13,975				n/a				17,334				15,308
Inverse Interest-Only Securities⁽³⁾			n/a				1,254				206				n/a				1,498				190
Total Structured RMBS Certificates							17,122				14,181								18,832				15,498
Total		$	8,253,714			$	8,438,494			$	8,356,080			$	5,431,274			$	5,559,428			$	5,253,310

Gain (Loss) on Securities [Table Text Block]

(in thousands)
		*Nine Months Ended September 30,*
		*2025*				*2024*
Proceeds from sales of RMBS⁽¹⁾		$	733,904			$	288,242
Carrying value of RMBS sold			(743,192	)			(287,732	)
Net (loss) gain on sales of RMBS		$	(9,288	)		$	510

Gross gain on sales of RMBS		$	-			$	510
Gross loss on sales of RMBS			(9,288	)			-
Net (loss) gain on sales of RMBS		$	(9,288	)		$	510