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Fair Value of Financial Instruments (Carrying Value vs Fair Value) (Details) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Carrying value and estimated fair value of financial instruments    
Other real estate, fair value $ 214,800 $ 175,800
Financial Assets:    
Available-for-sale securities 6,177,819 7,023,050
MSR related assets 381,390 492,080
Residential whole loans, at carrying value [1] 1,906,242 908,516
Residential whole loans, at fair value [1] 1,502,986 1,325,115
Securities obtained and pledged as collateral 253,721 504,062
Restricted cash 3,298 13,307
Swaps 11,183 679
Financial Liabilities (1):    
Repurchase agreements 5,892,228 6,614,701
Securitized debt 518,655 363,944
Obligation to return securities obtained as collateral 253,721 504,062
Senior Notes 96,794 96,773
Carrying Value    
Financial Assets:    
MSR related assets 381,390 492,080
Securities obtained and pledged as collateral 253,721 504,062
Cash and cash equivalents 54,880 449,757
Restricted cash 3,298 13,307
Swaps 11,183 679
Financial Liabilities (1):    
Repurchase agreements 5,892,228 6,614,701
Securitized debt 518,655 363,944
Obligation to return securities obtained as collateral 253,721 504,062
Senior Notes 96,794 96,773
Estimated Fair Value    
Financial Assets:    
MSR related assets 381,390 493,026
Securities obtained and pledged as collateral 253,721 504,062
Cash and cash equivalents 54,880 449,757
Restricted cash 3,298 13,307
Swaps 11,183 679
Financial Liabilities (1):    
Repurchase agreements 5,900,049 6,623,255
Securitized debt 518,659 366,109
Obligation to return securities obtained as collateral 253,721 504,062
Senior Notes 102,231 103,729
Agency MBS    
Financial Assets:    
Available-for-sale securities 2,362,897 2,824,681
Financial Liabilities (1):    
Repurchase agreements 2,111,547 2,501,340
Agency MBS | Carrying Value    
Financial Assets:    
Available-for-sale securities 2,362,897 2,824,681
Agency MBS | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 2,362,897 2,824,681
Non-Agency MBS    
Financial Assets:    
Available-for-sale securities 3,242,967 3,533,966
Financial Liabilities (1):    
Repurchase agreements 1,364,458 1,256,033
Non-Agency MBS | Carrying Value    
Financial Assets:    
Available-for-sale securities 3,242,967 3,533,966
Non-Agency MBS | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 3,242,967 3,533,966
CRT securities    
Financial Assets:    
Available-for-sale securities 571,955 664,403
Financial Liabilities (1):    
Repurchase agreements 410,157 459,058
CRT securities | Carrying Value    
Financial Assets:    
Available-for-sale securities 571,955 664,403
CRT securities | Estimated Fair Value    
Financial Assets:    
Available-for-sale securities 571,955 664,403
Residential whole loans    
Financial Assets:    
Residential whole loans, at fair value 1,502,986 1,325,115
Financial Liabilities (1):    
Repurchase agreements 988,831 1,043,747
Residential whole loans | Carrying Value    
Financial Assets:    
Residential whole loans, at carrying value 1,906,242 908,516
Residential whole loans, at fair value 1,502,986 1,325,115
Residential whole loans | Estimated Fair Value    
Financial Assets:    
Residential whole loans, at carrying value 1,987,218 988,688
Residential whole loans, at fair value $ 1,502,986 $ 1,325,115
[1] Includes approximately $199.8 million and $183.2 million of Residential whole loans, at carrying value and $476.2 million and $289.3 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at June 30, 2018 and December 31, 2017, respectively. Such assets can be used only to settle the obligations of the VIEs.