Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Preferred Stock Dividend Declaration and Payment

The following table presents cash dividends declared by the Company on its Series B Preferred Stock from January 1, 2021 through June 30, 2021:

Declaration Date	Record Date	Payment Date	Dividend Per Share
May 24, 2021	June 7, 2021	June 30, 2021	$0.46875
February 19, 2021	March 5, 2021	March 31, 2021	$0.46875

The following table presents cash dividends declared by the Company on its Series C Preferred Stock from January 1, 2021 through June 30, 2021:

Declaration Date	Record Date	Payment Date	Dividend Per Share
May 24, 2021	June 7, 2021	June 30, 2021	$0.40625
February 19, 2021	March 5, 2021	March 31, 2021	$0.40625

Schedule of Common Stock Dividend Declaration and Payment

The following table presents cash dividends declared by the Company on its common stock from January 1, 2021 through June 30, 2021:

Declaration Date	Record Date	Payment Date	Dividend Per Share
June 15, 2021	June 30, 2021	July 30, 2021	$0.100	(1)
March 12, 2021	March 31, 2021	April 30, 2021	$0.075

(1) At June 30, 2021, we had accrued dividends and dividend equivalents payable of $44.2 million related to the common stock dividend declared on June 15, 2021.

Schedule of changes in balances of each component of the entity's AOCI

The following table presents changes in the balances of each component of the Company’s AOCI for the three and six months ended June 30, 2021:

	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
(In Thousands)	Net Unrealized Gain/(Loss) on AFS Securities		Net  Gain/(Loss) on Swaps		Net Unrealized Gain/(Loss) on Financing Agreements (3)		Total  AOCI		Net Unrealized Gain/(Loss) on AFS Securities		Net  Gain/(Loss) on Swaps		Net Unrealized Gain/(Loss) on Financing Agreements (3)		Total  AOCI
Balance at beginning of period	$	75,752	$	—	$	(2,079)	$	73,673	$	79,607	$	—	$	(2,314)	$	77,293
OCI before reclassifications	(9,589)		—		491		(9,098)		(13,444)		—		726		(12,718)
Amounts reclassified from AOCI (1)	—		—		—		—		—		—		—		—
Net OCI during the period (2)	(9,589)		—		491		(9,098)		(13,444)		—		726		(12,718)
Balance at end of period	$	66,163	$	—	$	(1,588)	$	64,575	$	66,163	$	—	$	(1,588)	$	64,575

(1)  See separate table below for details about these reclassifications.

(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).

(3) Net Unrealized Gain/(Loss) on Financing Agreements at Fair Value due to changes in instrument-specific credit risk.

The following table presents changes in the balances of each component of the Company’s AOCI for the three and six months ended June 30, 2020:

	Three Months Ended June 30, 2020						Six Months Ended June 30, 2020
(In Thousands)	Net Unrealized Gain/(Loss) on AFS Securities		Net Gain/(Loss) on Swaps		Total AOCI		Net Unrealized Gain/(Loss) on AFS Securities		Net  Gain/(Loss) on Swaps		Total AOCI
Balance at beginning of period	$	148,910	$	(71,208)	$	77,702	$	392,722	$	(22,675)	$	370,047
OCI before reclassifications	48,715		—		48,715		393,503		(50,126)		343,377
Amounts reclassified from AOCI (1)	(144,736)		64,032		(80,704)		(733,336)		65,625		(667,711)
Net OCI during the period (2)	(96,021)		64,032		(31,989)		(339,833)		15,499		(324,334)
Balance at end of period	$	52,889	$	(7,176)	$	45,713	$	52,889	$	(7,176)	$	45,713

(1)  See separate table below for details about these reclassifications.

(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).

Information about the significant amounts reclassified out of the entity's AOCI

The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and six months ended June 30, 2021:

	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Details about AOCI Components	Amounts Reclassified from AOCI				Affected Line Item in the Statement Where Net Income is Presented
(In Thousands)
AFS Securities:
Realized gain on sale of securities	$	—	$	—	Net realized loss on sales of securities and residential whole loans
Impairment recognized in earnings	—		—		Other, net
Total AFS Securities	$	—	$	—
Total reclassifications for period	$	—	$	—

The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and six months ended June 30, 2020:

	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Details about AOCI Components	Amounts Reclassified from AOCI				Affected Line Item in the Statement Where Net Income is Presented
(In Thousands)
AFS Securities:
Realized gain on sale of securities	$	(144,736)	$	(389,067)	Net realized loss on sales of securities and residential whole loans
Impairment recognized in earnings	—		(344,269)		Other, net
Total AFS Securities	$	(144,736)	$	(733,336)
Swaps designated as cash flow hedges:
Amortization of de-designated hedging instruments	64,032		65,625		Other, net
Total Swaps designated as cash flow hedges	64,032		65,625
Total reclassifications for period	$	(80,704)	$	(667,711)