CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022		Jun. 30, 2021
Cash flows from operating activities
Net income (loss)	$ 2,887,211		$ 1,456,286
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Amortization of premiums and discounts of investments, net	19,404		313,306
Amortization of securitized debt premiums and discounts and deferred financing costs	(4,378)		(4,269)
Depreciation, amortization and other noncash expenses	11,145		17,718
Net (gains) losses on investments and derivatives	(1,944,200)		(808,867)
Business divestiture-related (gains) losses	24,309		248,036
Income (loss) from unconsolidated joint ventures	(10,378)		5,889
Loan loss (provision) reversal	(26,305)		(139,126)
Payments on purchases of loans held for sale	0		(49,586)
Proceeds from sales and repayments of loans held for sale	1,619		84,991
Net receipts (payments) on derivatives	1,639,329		606,454
Net change in
Other assets	(42,741)		(121,876)
Interest receivable	(19,128)		18,677
Interest payable	435		(16,165)
Other liabilities	180,529		(40,425)
Net cash provided by (used in) operating activities	2,716,851		1,571,043
Cash flows from investing activities
Payments on purchases of securities	(14,422,639)		(12,581,731)
Proceeds from sales of securities	8,390,532		6,350,647
Principal payments on securities	5,737,737		10,228,935
Payments on purchases and origination of loans	(3,981,495)		(2,754,376)
Proceeds from sales of loans	1,832,930		116,570
Principal payments on loans	1,073,579		1,498,768
Payments on purchases of MSR	(683,972)		(98,983)
Proceeds from sales of MSR	9,065		376
Payments on purchases of interests in MSR	(4,913)		(47,098)
Investments in real estate	0		(1,815)
Proceeds from sales of real estate	0		53,910
Proceeds from reverse repurchase agreements	7,750,024		12,084,313
Payments on reverse repurchase agreements	(7,750,024)		(12,084,313)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	0		290
Proceeds from sale of equity securities	0		6,957
Net cash provided by (used in) investing activities	(2,049,176)		2,772,450
Cash flows from financing activities
Proceeds from repurchase agreements and other secured financing	1,849,361,390		1,129,837,127
Payments on repurchase agreements and other secured financing	(1,853,629,599)		(1,134,179,055)
Proceeds from issuances of securitized debt	3,946,614		969,165
Principal payments on securitized debt	(843,470)		(863,095)
Payments from relief of securitized debt	(2,990)		0
Net proceeds from stock offerings, direct purchases and dividend reinvestments	955,599		420,426
Proceeds from participations issued	1,216,950		499,864
Payments on repurchases of participations issued	(1,468,384)		(223,828)
Principal payments on participations issued	(31,844)		(4,015)
Net principal receipts (payments) on mortgages payable	0		(659)
Net contributions (distributions) from (to) noncontrolling interests	39,390		7,466
Settlement of stock-based awards in satisfaction of withholding tax requirements	(3,050)		(992)
Dividends paid	(696,439)		(669,144)
Net cash provided by (used in) financing activities	(1,155,833)		(4,206,740)
Net (decrease) increase in cash and cash equivalents	(488,158)		136,753
Cash and cash equivalents including cash pledged as collateral, beginning of period	1,342,090		1,243,703
Cash and cash equivalents including cash pledged as collateral, end of period	853,932	[1]	1,380,456
Supplemental disclosure of cash flow information
Interest received	1,144,124		1,478,377
Dividends received	0		51
Interest paid (excluding interest paid on interest rate swaps)	170,594		183,952
Net interest received (paid) on interest rate swaps	(75,898)		(137,018)
Taxes received (paid)	(1,661)		(333)
Noncash investing and financing activities
Receivable for unsettled trades	434,227		14,336
Payable for unsettled trades	1,995,960		154,405
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment	(5,269,336)		(1,594,060)
Dividends declared, not yet paid	354,027		317,714
Derecognition of assets of consolidated VIEs	0		976,690
Derecognition of securitized debt of consolidated VIEs	$ 0		$ 893,500

[1] (2)Includes cash of consolidated Variable Interest Entities (“VIEs”) of $2.4 million and $16.2 million at June 30, 2022 and December 31, 2021, respectively.