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Mortgage-Backed Securities - Investment Type (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized cost $ 9,829,814 $ 6,903,832
Gross unrealized gain, investment, fair value option 66,332 11,081
Gross unrealized loss, investment, fair value option (150,941) (239,352)
Fair value through net income 9,745,205 6,675,561
Amortized cost 913,836 1,009,016
Gross unrealized gain 2,741 3,283
Gross unrealized loss (151,776) (175,773)
Fair value through OCI 764,801 836,526
Total 10,510,006 7,512,087
Residential Mortgage Backed Securities [Member] | Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized cost 9,378,244 6,868,095
Gross unrealized gain, investment, fair value option 61,940 11,081
Gross unrealized loss, investment, fair value option (149,501) (237,004)
Fair value through net income 9,290,683 6,642,172
Amortized cost 792,854 827,314
Gross unrealized gain 0 0
Gross unrealized loss (146,703) (167,248)
Fair value through OCI 646,151 660,066
Total 9,936,834 7,302,238
Commercial Mortgage Backed Securities [Member] | Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized cost 418,282 0
Gross unrealized gain, investment, fair value option 4,389 0
Gross unrealized loss, investment, fair value option (13) 0
Fair value through net income 422,658 0
Amortized cost 52,601 99,848
Gross unrealized gain 18 3
Gross unrealized loss (2,850) (4,388)
Fair value through OCI 49,769 95,463
Total 472,427 95,463
Interest-Only-Strip [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized cost 33,288 35,737
Gross unrealized gain, investment, fair value option 3 0
Gross unrealized loss, investment, fair value option (1,427) (2,348)
Fair value through net income 31,864 33,389
Amortized cost 68,381 81,854
Gross unrealized gain 2,723 3,280
Gross unrealized loss (2,223) (4,137)
Fair value through OCI 68,881 80,997
Total 100,745 114,386
Interest-Only-Strip [Member] | Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional amount of nonderivative instruments 5,366,027 6,196,778
Interest-Only-Strip [Member] | Non-Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional amount of nonderivative instruments $ 1,437,798 $ 2,450,398