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Fair Value of Financial Instruments (Carrying Value vs Fair Value) (Details) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Financial Assets:    
Residential whole loans, carrying value [1] $ 4,493,805 $ 6,069,370
Residential whole loans, at fair value [1] 1,229,664 1,381,583
Fair  Value 152,765 3,983,519
MSR-related assets 252,183 1,217,002
Restricted cash 5,303 64,035
Carrying Value    
Financial Assets:    
MSR-related assets 252,183 1,217,002
Cash and cash equivalents 884,171 70,629
Restricted cash 5,303 64,035
Financial Liabilities:    
Securitized debt 837,683 570,952
Convertible Senior Notes 224,867 223,971
Senior notes 96,900 96,862
Estimated Fair Value    
Financial Assets:    
MSR-related assets 252,183 1,217,002
Cash and cash equivalents 884,171 70,629
Restricted cash 5,303 64,035
Financial Liabilities:    
Securitized debt 839,914 575,353
Convertible Senior Notes 216,919 244,088
Senior notes 94,311 103,231
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Financial Assets:    
Fair  Value   1,664,582
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Carrying Value    
Financial Assets:    
Fair  Value 0 1,664,582
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Estimated Fair Value    
Financial Assets:    
Fair  Value 0 1,664,582
Non-Agency MBS    
Financial Assets:    
Fair  Value 56,430 2,063,529
Non-Agency MBS | Carrying Value    
Financial Assets:    
Fair  Value 56,430 2,063,529
Non-Agency MBS | Estimated Fair Value    
Financial Assets:    
Fair  Value 56,430 2,063,529
CRT securities    
Financial Assets:    
Fair  Value 96,335 255,408
CRT securities | Carrying Value    
Financial Assets:    
Fair  Value 96,335 255,408
CRT securities | Estimated Fair Value    
Financial Assets:    
Fair  Value 96,335 255,408
Residential whole loans, at fair value    
Financial Assets:    
Residential whole loans, at fair value 1,229,664 1,381,583
Residential whole loans, at fair value | Carrying Value    
Financial Assets:    
Residential whole loans, carrying value 4,387,559 6,069,370
Residential whole loans, at fair value 1,229,664 1,381,583
Residential whole loans, at fair value | Estimated Fair Value    
Financial Assets:    
Residential whole loans, carrying value 4,528,630 6,248,745
Residential whole loans, at fair value 1,229,664 1,381,583
Financing agreements with non-mark-to-market collateral provisions | Carrying Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 1,727,407 0
Financing agreements with non-mark-to-market collateral provisions | Estimated Fair Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 1,727,407 0
Financing agreements with mark-to-market collateral provisions | Carrying Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 1,231,734 4,741,971
Financing agreements with mark-to-market collateral provisions | Estimated Fair Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 1,231,734 4,753,070
Financing agreements with mark-to-market collateral provisions | Carrying Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 258,537 4,397,850
Financing agreements with mark-to-market collateral provisions | Estimated Fair Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 258,537 4,403,139
Senior secured credit agreement | Carrying Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 473,993 0
Senior secured credit agreement | Estimated Fair Value    
Financial Liabilities:    
Financing agreements with mark-to-market collateral provisions 473,993 0
Level 3 | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Financial Assets:    
Fair  Value   0
Level 3 | Non-Agency MBS    
Financial Assets:    
Fair  Value 0 0
Level 3 | CRT securities    
Financial Assets:    
Fair  Value 0 0
Level 3 | Residential whole loans, at fair value    
Financial Assets:    
Residential whole loans, at fair value 1,229,664 1,381,583
Fair Value, Nonrecurring | Carrying Value    
Financial Assets:    
MSR-related assets $ 18,100 $ 59,500
[1] Includes approximately $568.6 million and $186.4 million of Residential whole loans, at carrying value and $521.2 million and $567.4 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at September 30, 2020 and December 31, 2019, respectively. Such assets can be used only to settle the obligations of each respective VIE.