Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Sep. 30, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		$ 14,100	$ 133
TBA securities		4,635	22,814
Interest Rate Swaption
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		736
Long position | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		6,150	133
TBA securities		3,899	22,814
Long position | Interest Rate Swaption
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		450
Long position | Exchange Traded Options
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		7,500
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		13,230,145	7,512,087
Mortgage loans	[1]	929	1,130
Total		13,245,174	7,513,350
Total		4,635	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		7,500	0
Total		0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBS		13,230,145	7,512,087
Mortgage loans		0	0
Total		13,236,745	7,512,220
Total		4,635	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]	929	1,130
Total		929	1,130
Total		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]	6,150	133
TBA securities		3,899	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]	6,150	133
TBA securities		3,899	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		450	0
TBA securities		736	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
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		450	0
TBA securities		736	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
TBA securities		0	0
Fair Value, Measurements, Recurring | Exchange Traded Options | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		7,500	0
Fair Value, Measurements, Recurring | Exchange Traded Options | Level 1 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		7,500	0
Fair Value, Measurements, Recurring | Exchange Traded Options | Level 2 | Long position
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TBA securities		0	0
Fair Value, Measurements, Recurring | Exchange Traded Options | 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 on the consolidated balance sheets as a component of other assets.

[2] TBA securities are reflected on the consolidated balance sheet as derivative assets or liabilities at their implied fair value, net of implied cost basis. Please refer to Note 5 for additional information