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Fair Value of Financial Instruments (Carry Value vs Fair Value) (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities $ 3,983,519 $ 6,509,333
Residential whole loans, at carrying value [1] 6,066,345 3,016,715
Residential whole loans, at fair value [1] 1,381,583 1,665,978
MSR related assets 1,217,002 611,807
Restricted cash 64,035 36,744
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 9,139,821 7,879,087
Securitized debt 570,952 684,420
Convertible Debt 223,971 0
Senior Notes 96,862 96,816
Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
MSR related assets 1,217,002 611,807
Cash and cash equivalents 70,629 51,965
Restricted cash 64,035 36,744
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 9,139,821 7,879,087
Securitized debt 570,952 684,420
Convertible Debt 223,971 0
Senior Notes 96,862 96,816
Estimated fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
MSR related assets 1,217,002 611,807
Cash and cash equivalents 70,629 51,965
Restricted cash 64,035 36,744
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 9,156,209 7,896,672
Securitized debt 575,353 680,209
Convertible Debt 244,088 0
Senior Notes 103,231 99,951
Agency MBS    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 1,664,582 2,698,213
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 1,557,675 2,384,357
Agency MBS | Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 1,664,582 2,698,213
Agency MBS | Estimated fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 1,664,582 2,698,213
Non-Agency MBS    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 2,063,529 3,318,299
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 1,121,802 1,447,585
Non-Agency MBS | Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 2,063,529 3,318,299
Non-Agency MBS | Estimated fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 2,063,529 3,318,299
CRT securities    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 255,408 492,821
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 203,569 391,586
CRT securities | Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 255,408 492,821
CRT securities | Estimated fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Available-for-sale Securities 255,408 492,821
Residential whole loans, at fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Residential whole loans, at fair value 1,381,583 1,665,978
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 4,743,094 2,020,508
Residential whole loans, at fair value | Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Residential whole loans, at carrying value 6,066,345 3,016,715
Residential whole loans, at fair value 1,381,583 1,665,978
Residential whole loans, at fair value | Estimated fair value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Residential whole loans, at carrying value 6,248,745 3,104,401
Residential whole loans, at fair value 1,381,583 $ 1,665,978
Fair Value, Nonrecurring | Carrying value    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
MSR related assets $ 59,500  
[1]
Includes approximately $186.4 million and $209.4 million of Residential whole loans, at carrying value and $567.4 million and $694.7 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at December 31, 2019 and 2018, respectively. Such assets can be used only to settle the obligations of each respective VIE.