CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Assets:
Residential whole loans, at carrying value ($2,366,285 and $2,704,646 pledged as collateral, respectively) (1)	[1]	$ 3,932,300	$ 4,195,332
Residential whole loans, at fair value ($889,100 and $827,001 pledged as collateral, respectively) (1)	[1]	1,320,199	1,216,902
Allowance for credit losses on residential whole loans held at carrying value		(63,244)	(86,833)
Total residential whole loans, net		5,189,255	5,325,401
Securities, at fair value ($350,115 and $399,999 pledged as collateral, respectively)		350,115	399,999
Cash and cash equivalents		780,714	814,354
Restricted cash		5,150	7,165
Other assets		392,726	385,381
Total Assets		6,717,960	6,932,300
Liabilities:
Financing agreements ($2,974,578 and $3,366,772 held at fair value, respectively)		3,995,982	4,336,976
Other liabilities		179,712	70,522
Total Liabilities		4,175,694	4,407,498
Commitments and contingencies (See Note 10)
Stockholders’ Equity:
Common stock, $0.01 par value; 874,300 and 874,300 shares authorized; 446,114 and 451,714 shares issued and outstanding, respectively		4,461	4,517
Additional paid-in capital, in excess of par		3,825,606	3,848,129
Accumulated deficit		(1,361,664)	(1,405,327)
Accumulated other comprehensive income		73,673	77,293
Total Stockholders’ Equity		2,542,266	2,524,802
Total Liabilities and Stockholders’ Equity		6,717,960	6,932,300
Non-Agency MBS Transferred to Consolidated VIEs
Assets:
Residential whole loans, at carrying value ($2,366,285 and $2,704,646 pledged as collateral, respectively) (1)		1,500,000	1,400,000
Residential whole loans, at fair value ($889,100 and $827,001 pledged as collateral, respectively) (1)		311,600	382,300
Series B Preferred Stock
Stockholders’ Equity:
Preferred stock		80	80
Series C Preferred Stock
Stockholders’ Equity:
Preferred stock		$ 110	$ 110

[1] Includes approximately $1.5 billion and $1.4 billion of Residential whole loans, at carrying value and $311.6 million and $382.3 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at March 31, 2021 and December 31, 2020, respectively. Such assets can be used only to settle the obligations of each respective VIE.