Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2025		Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		$ 31,816		$ 133
TBA securities		31		22,814
Long position | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		30,823		133
TBA securities		31		22,814
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		10,510,006		7,512,087
Mortgage loans	[1]	1,028		1,130
Total assets carried at fair value		10,542,850		7,513,350
Total liabilities carried at fair value		31		22,814
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		0		0
Mortgage loans		0		0
Total assets carried at fair value		0		0
Total liabilities carried at fair value		0		0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		10,510,006		7,512,087
Mortgage loans		0		0
Total assets carried at fair value		10,541,822		7,512,220
Total liabilities carried at fair value		31		22,814
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		0		0
Mortgage loans	[1]	1,028		1,130
Total assets carried at fair value		1,028		1,130
Total liabilities carried at fair value		0		0
Fair Value, Measurements, Recurring | TBA securities | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities	[2]	30,823		133
TBA securities	[2]	31		22,814
Fair Value, Measurements, Recurring | TBA securities | Level 1 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		0		0
TBA securities		0		0
Fair Value, Measurements, Recurring | TBA securities | Level 2 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities	[2]	30,823		133
TBA securities		31	[2]	22,814
Fair Value, Measurements, Recurring | TBA securities | Level 3 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		0		0
TBA securities		0		0
Fair Value, Measurements, Recurring | Interest Rate Swaption | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities	[2]	993		0
Fair Value, Measurements, Recurring | Interest Rate Swaption | Level 1 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		0		0
Fair Value, Measurements, Recurring | Interest Rate Swaption | Level 2 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities	[2]	993		0
Fair Value, Measurements, Recurring | Interest Rate Swaption | Level 3 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		$ 0		$ 0

[1] Mortgage loans are included within “other assets” on the consolidated balance sheets.

[2] TBA securities are reflected on consolidated balance sheets within “derivative assets” and “derivative liabilities” at their implied fair value, net of implied cost basis. Please refer to Note 5 for additional information. (2)Mortgage loans are included within “other assets” on the consolidated balance sheets.