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Investments in RMBS, Assets by Maturity (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Security
Dec. 31, 2023
USD ($)
Security
RMBS, Assets by Maturity [Abstract]    
Carrying value $ 1,214,123 $ 1,012,130
Carrying value of collateral for repurchase agreements 1,153,213 973,221
RMBS [Member]    
RMBS, Assets by Maturity [Abstract]    
Original face value 1,332,600 1,097,720
Book value 1,188,458 1,004,803
Gross unrealized gains 28,140 16,166
Gross unrealized losses (2,475) (8,839)
Carrying value [1] $ 1,214,123 $ 1,012,130
Number of securities | Security 98 80
Weighted average coupon 4.81% 4.64%
Weighted average yield [2] 4.93% 4.77%
Weighted average maturity 28 years 28 years
Carrying value of collateral for repurchase agreements $ 1,200,000 $ 973,200
RMBS [Member] | Fair Value through OCI [Member] | Over 10 Years [Member]    
RMBS, Assets by Maturity [Abstract]    
Original face value 381,975 474,467
Book value 319,399 423,006
Gross unrealized gains 5,604 4,045
Gross unrealized losses (1,961) (6,472)
Carrying value [1],[3] $ 323,042 $ 420,579
Number of securities | Security 28 34
Weighted average coupon 4.50% 4.49%
Weighted average yield [2] 4.62% 4.59%
Weighted average maturity 27 years 28 years
RMBS [Member] | Fair Value through Earnings [Member] | Over 10 Years [Member]    
RMBS, Assets by Maturity [Abstract]    
Original face value $ 950,625 $ 623,253
Book value 869,059 581,797
Gross unrealized gains 22,536 12,121
Gross unrealized losses (514) (2,367)
Carrying value [1],[3] $ 891,081 $ 591,551
Number of securities | Security 70 46
Weighted average coupon 4.93% 4.74%
Weighted average yield [2] 5.04% 4.90%
Weighted average maturity 28 years 28 years
[1] See Note 9 regarding the estimation of fair value, which approximates carrying value for all securities.
[2] The weighted average yield is based on the most recent gross monthly interest income, which is then annualized and divided by the book value of settled securities.
[3] The Company used an implied AAA rating for the Agency RMBS.