CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest Income:
Residential whole loans	$ 69,016	$ 84,837	$ 133,554	$ 190,872
Securities, at fair value	15,345	14,716	31,804	73,297
Other interest-earning assets	108	3,165	108	6,072
Cash and cash equivalent investments	59	60	113	546
Interest Income	84,528	102,778	165,579	270,787
Interest Expense:
Asset-backed and other collateralized financing arrangements	21,640	82,085	47,691	159,945
Other interest expense	3,915	5,906	7,934	11,805
Interest Expense	25,555	87,991	55,625	171,750
Net Interest Income	58,973	14,787	109,954	99,037
Reversal/(Provision) for credit and valuation losses on residential whole loans	8,867	85,377	31,617	(65,334)
Net Interest Income after Provision for Credit and Valuation Losses	67,840	100,164	141,571	33,703
Other Income, net:
Impairment and other losses on securities available-for-sale and other assets	0	(5,094)	0	(424,745)
Net realized gain/(loss) on sales of securities and residential whole loans	0	49,485	0	(188,895)
Net unrealized gain/(loss) on securities measured at fair value through earnings	1,374	64,438	1,475	(13,523)
Net gain/(loss) on residential whole loans measured at fair value through earnings	6,021	4,910	37,510	(70,399)
Loss on terminated swaps previously designated as hedges for accounting purposes	0	(49,857)	0	(49,857)
Net gain/(loss) on real estate owned	5,125	(4,199)	7,885	(5,684)
Other, net	9,127	1,264	9,096	738
Other Income/(Loss), net	21,647	60,947	55,966	(752,365)
Operating and Other Expense:
Compensation and benefits	8,886	8,578	17,323	17,477
Other general and administrative expense	7,887	7,652	14,679	12,227
Loan servicing, financing and other related costs	6,000	8,337	13,299	19,617
Costs associated with restructuring/forbearance agreement	0	39,966	0	44,434
Operating and Other Expense	22,773	64,533	45,301	93,755
Net Income/(Loss)	66,714	96,578	152,236	(812,417)
Less Preferred Stock Dividend Requirement	8,219	8,144	16,438	13,359
Net Income/(Loss) Available to Common Stock and Participating Securities	$ 58,495	$ 88,434	$ 135,798	$ (825,776)
Basic Earnings per Common Share (usd per share)	$ 0.13	$ 0.19	$ 0.30	$ (1.82)
Diluted Earnings per Common Share (usd per share)	$ 0.13	$ 0.19	$ 0.30	$ (1.82)