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Fair Value of Financial Instruments (Carry Value vs Fair Value) (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities $ 6,509,333 $ 7,023,050
MSR related assets 611,807 492,080
Residential whole loans, at carrying value 3,016,715 908,516
Residential whole loans, at fair value 1,665,978 1,325,115
Securities obtained and pledged as collateral 0 504,062
Restricted cash 36,744 13,986
Repurchase agreements 7,879,087 6,614,701
Securitized debt 684,420 363,944
Obligation to return securities held as collateral, at fair value 0 504,062
Senior Notes 96,816 96,773
Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
MSR related assets 611,807 492,080
Securities obtained and pledged as collateral 0 504,062
Cash and cash equivalents 51,965 449,757
Restricted cash 36,744 13,986
Repurchase agreements 7,879,087 6,614,701
Securitized debt 684,420 363,944
Obligation to return securities held as collateral, at fair value 0 504,062
Senior Notes 96,816 96,773
Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
MSR related assets 611,807 493,026
Securities obtained and pledged as collateral 0 504,062
Cash and cash equivalents 51,965 449,757
Restricted cash 36,744 13,986
Repurchase agreements 7,896,672 6,623,255
Securitized debt 680,209 366,109
Obligation to return securities held as collateral, at fair value 0 504,062
Senior Notes 99,951 103,729
Agency MBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 2,698,213 2,824,681
Repurchase agreements 2,384,357 2,501,340
Agency MBS | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 2,698,213 2,824,681
Agency MBS | Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 2,698,213 2,824,681
Non-Agency MBS    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 3,318,299 3,533,966
Repurchase agreements 1,447,585 1,256,033
Non-Agency MBS | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 3,318,299 3,533,966
Non-Agency MBS | Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 3,318,299 3,533,966
CRT securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 492,821 664,403
Repurchase agreements 391,586 459,058
CRT securities | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 492,821 664,403
CRT securities | Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available-for-sale Securities 492,821 664,403
Residential whole loans, at fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Residential whole loans, at fair value 1,665,978 1,325,115
Repurchase agreements 2,020,508 1,043,747
Residential whole loans, at fair value | Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Residential whole loans, at carrying value 3,016,715 908,516
Residential whole loans, at fair value 1,665,978 1,325,115
Residential whole loans, at fair value | Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Residential whole loans, at carrying value 3,104,401 988,688
Residential whole loans, at fair value $ 1,665,978 $ 1,325,115