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Net Interest (Expense) Income (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Interest income $ 248,753 $ 225,470 $ 660,553 $ 582,707
Interest expense:        
Interest expense 249,900 217,597 697,559 591,237
Net interest (expense) income (1,147) 7,873 (37,006) (8,530)
Nonrelated Party        
Interest income:        
Cash and short-term investments 11,698 15,641 32,624 43,395
Principal-only stripped mortgage-backed securities 13,881 20,412 32,424 29,756
Loans held for sale 113,039 80,103 306,158 231,807
Placement fees relating to custodial funds 109,706 109,201 287,476 277,564
Other 429 113 1,871 185
Interest expense:        
Assets sold under agreements to repurchase 121,170 102,708 328,084 279,730
Mortgage loan participation purchase and sale agreements 4,267 4,411 12,239 12,597
Notes payable secured by mortgage servicing assets 26,417 39,265 98,738 125,203
Unsecured senior notes 78,014 51,147 208,308 133,947
Interest shortfall on repayments of mortgage loans serviced for Agency securitizations 14,855 15,711 38,687 29,734
Interest on mortgage loan impound deposits 4,370 3,450 9,214 8,399
Other 807 905 2,289 1,627
Interest expense 249,900 217,597 697,559 591,237
Loan Repo Facility        
Interest expense:        
Assets sold under agreements to repurchase $ 121,170 $ 102,708 $ 328,084 $ 279,730