CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Real estate and other securities at fair value	$ 8,538,035	$ 9,711,346
Residential mortgage loans, HFS, at fair value	5,888,611	4,307,571
Other assets at fair value	2,639,938	2,311,979
Secured notes and bonds payable, at fair value	153,019	185,460
Accrued expenses and other liabilities at fair value	$ 634,225	$ 525,486
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	57,564,122	51,964,122
Preferred stock, shares outstanding (in shares)	57,564,122	51,964,122
Preferred stock, liquidation preference	$ 1,439,104	$ 1,299,104
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	554,196,670	520,656,256
Common stock, shares outstanding (in shares)	554,196,670	520,656,256
Assets	$ 47,165,394	$ 46,048,957
Liabilities	38,255,920	38,162,647
Variable Interest Entity, Primary Beneficiary
Residential mortgage loans, HFS, at fair value	448,651	496,420
Assets	7,088,051	6,321,334
Liabilities	$ 5,577,873	$ 5,182,479