Residential Investor Loans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate (as a percent)	43.00%
Real estate owned, fixed rate (as a percent)	0.57
Investment fair value changes, net	$ 97,369	$ 14,759	$ 44,400
Total Fair Value	287,557	211,474
Principal payments on real estate securities	15,881	8,526	1,122
Mortgage banking activities, net	167,106	99,398	67,386
Fee income, net	10,957	11,030	$ 8,213
Financing receivable, modified amount	861,294
Financing receivable, previously modified		142,000
Simple Modifications (Extensions)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, modified amount	$ 732,687	$ 185,000
Weighted average modification term (in months)	6 months	10 months
Financing receivable, previously modified	$ 93,000
Complex Modifications
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, modified amount	$ 128,607	$ 663,000
Weighted average modification term (in months)	6 months
Weighted Average Contractual Interest Rate	9.46%	9.09%
Weighted Average Deferred Interest Rate	3.69%	4.46%
Financing receivable, previously modified	$ 323,000
Commitment To Fund Residential Investor Bridge Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Funding commitment	258,000
Commitment To Fund Residential Investor Bridge Loan | Corporate Joint Venture
Accounts, Notes, Loans and Financing Receivable [Line Items]
Funding commitment	92,000
Legacy Investments | Carrying Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	243,000
Legacy Investments | Carrying Value | Financing Receivable, Nonaccrual, Contractual Coupon Interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	153,000
Legacy Investments | Carrying Value | Financing Receivable, Nonaccrual, Deferred Interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	90,000
Legacy Investments | Estimated Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	208,000
CoreVest Mortgage Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage banking activities, net	51,000	$ 42,000
Legacy Bridge Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	484,000			$ 484,000
Investment fair value changes, net	$ 6,000
Bridge Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original maturity (in months)	8 months
Bridge Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original maturity (in months)	36 months
Subordinate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Fair Value	$ 287,557	140,242
Subordinate | Legacy Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Fair Value	182,000			$ 182,000
Held-for-sale at fair value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	513,353	237,224
Held-for-sale at fair value | Residential Investor Bridge, Unsecuritized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	310,931	78,587
Fair value of loans	286,000
Residential Investor Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,616,664	4,587,090
Residential Investor Loans | Residential Investor Bridge, Unsecuritized
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	310,931	1,120,281
Residential Investor Bridge Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold	516,000
Principal payments on real estate securities	88,000	49,000
Financing receivable, modified amount	861,000	848,000
Residential Investor Bridge Loans | Financing Receivable, Nonaccrual, Contractual Coupon Interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	202,000	151,000
Residential Investor Bridge Loans | Financing Receivable, Nonaccrual, Deferred Interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	90,000	192,000
Residential Investor Bridge Loans | Carrying Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	291,000	343,000
Residential Investor Bridge Loans | Estimated Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonaccrual	$ 255,000	$ 282,000
Financial Instrument, Term One | Residential Investor Term Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable term (in years)	3 years
Financial Instrument, Term Four | Residential Investor Term Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable term (in years)	30 years