CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest Income:
Residential whole loans	$ 441,223	$ 303,468	$ 332,212
Securities, at fair value	28,921	56,690	90,094
Other interest-earning assets	7,437	1,800	9,850
Cash and cash equivalent investments	4,838	344	676
Interest Income	482,419	362,302	432,832
Interest Expense:
Asset-backed and other collateralized financing arrangements	243,083	104,597	242,039
Other interest expense	15,760	15,788	26,719
Interest Expense	258,843	120,385	268,758
Net Interest Income	223,576	241,917	164,074
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans	2,646	44,863	(22,381)
Provision for Credit Losses on Other Assets	(28,579)	0	0
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses	197,643	286,780	141,693
Other (Loss)/Income, net:
Net (loss)/gain on residential whole loans measured at fair value through earnings	(866,762)	16,243	16,386
Net realized loss on residential whole loans held at carrying value	0	0	(273,030)
Impairment and other net (loss)/gain on securities and other portfolio investments	(25,067)	74,496	(350,567)
Net gain on real estate owned	25,379	22,838	5,391
Total Net gain/(loss) on derivatives used for risk management purposes	255,179	1,426	(61,249)
Net gain/(loss) on securitized debt measured at fair value through earnings	290,639	15,027	(11,929)
Lima One - origination, servicing and other fee income	46,745	22,600	0
Other, net	9,297	12,473	(4,571)
Other (Loss)/Income, net	(264,590)	165,103	(679,569)
Operating and Other Expense:
Compensation and benefits	76,728	53,817	31,042
Other general and administrative expense	35,812	31,729	25,666
Loan servicing, financing and other related costs	42,894	30,867	40,372
Amortization of intangible assets	9,200	6,600	0
Costs associated with restructuring/forbearance agreement	0	0	44,434
Operating and Other Expense	164,634	123,013	141,514
Net (Loss)/Income	(231,581)	328,870	(679,390)
Less Preferred Stock Dividend Requirement	32,875	32,875	29,796
Net (Loss)/Income Available to Common Stock and Participating Securities	$ (264,456)	$ 295,995	$ (709,186)
Basic (Loss)/Earnings per Common Share (usd per share)	$ (2.57)	$ 2.66	$ (6.28)
Diluted (Loss)/Earnings per Common Share (in usd per share)	$ (2.57)	$ 2.63	$ (6.28)