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Net Interest Expense (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Interest income $ 221,929 $ 200,811 $ 411,800 $ 357,237
Interest expense:        
Interest expense 239,577 207,871 447,659 373,640
Net interest expense (17,648) (7,060) (35,859) (16,403)
Nonrelated Party        
Interest income:        
Cash and short-term investments 10,919 13,172 20,926 27,754
Principal-only stripped mortgage-backed securities 6,948 9,074 18,543 9,344
Loans held for sale 105,725 86,283 193,119 151,704
Placement fees relating to custodial funds 97,975 92,230 177,770 168,363
Other 362 52 1,442 72
Interest expense:        
Assets sold under agreements to repurchase 112,685 106,587 206,914 177,022
Mortgage loan participation purchase and sale agreements 4,168 4,109 7,972 8,186
Notes payable secured by mortgage servicing assets 35,743 41,932 72,321 85,938
Unsecured senior notes 70,157 43,968 130,294 82,800
Interest shortfall on repayments of mortgage loans serviced for Agency securitizations 14,058 7,902 23,832 14,023
Interest on mortgage loan impound deposits 2,263 2,962 4,844 4,949
Other 503 411 1,482 722
Interest expense 239,577 207,871 447,659 373,640
Loan Repo Facility        
Interest expense:        
Assets sold under agreements to repurchase $ 112,685 $ 106,587 $ 206,914 $ 177,022