CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities:
Net (loss)/income	$ (231,581)	$ 328,870	$ (679,390)
Adjustments to reconcile net income to net cash provided by operating activities:
Net loss/(gain) on residential whole loans	866,762	(12,931)	246,419
Impairment and other net loss/(gain) on securities and other portfolio investments, net	25,067	(74,602)	350,567
Net gain on real estate owned	(24,473)	(18,772)	(2,486)
Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities, and amortization of terminated hedging instruments	(27,314)	(59,424)	10,949
Provision/(Reversal of provision) for credit losses on residential whole loans and other assets	25,933	(48,355)	22,121
Net (gain)/loss on derivatives used for risk management purposes	(247,898)	(2,095)	60,680
Net margin received/(paid) for derivatives used for risk management purposes	214,754	574	0
Net (gain)/loss on securitized debt measured at fair value through earnings	(290,639)	(14,391)	11,929
Net other non-cash losses included in net income	27,503	27,388	28,480
Decrease/(Increase) in other assets	40,077	(20,015)	39,930
(Decrease)/Increase in other liabilities	(12,114)	14,046	(50,803)
Net cash provided by operating activities	366,077	120,293	38,396
Cash Flows From Investing Activities:
Purchases of residential whole loans, loan related investments and capitalized advances	(3,206,941)	(4,516,971)	(1,477,320)
Proceeds from sales of residential whole loans, and residential whole loan repurchases	0	0	1,510,902
Principal payments on residential whole loans and loan related investments	1,878,802	2,012,901	1,825,606
Increase in cash balances resulting from Lima One purchase transaction, net	0	6,121	0
Purchases of securities	0	0	(163,748)
Proceeds from sales of securities and other assets	15,660	0	3,790,148
Principal payments on securities	53,121	157,297	633,194
Purchases of real estate owned and capital improvements	(978)	(1,338)	(10,198)
Proceeds from sales of real estate owned	133,980	187,010	279,786
Additions to leasehold improvements, furniture and fixtures	(300)	(12,048)	(4,862)
Net cash used in investing activities	(1,126,656)	(2,167,028)	6,383,508
Cash Flows From Financing Activities:
Principal payments on financing agreements with mark-to-market collateral provisions	(2,971,332)	(1,822,198)	(21,810,920)
Proceeds from borrowings under financing agreements with mark-to-market collateral provisions	2,631,606	3,022,279	14,008,042
Principal payments on other collateralized financing agreements	(2,152,143)	(1,883,068)	(1,733,345)
Proceeds from borrowings under other collateralized financing agreements	3,676,510	2,692,576	3,803,150
Payment made for other collateralized financing agreement related costs	(16,390)	(7,145)	(1,699)
Principal payment on redemption of Senior notes	0	(100,000)	0
Payments made for settlements and unwinds of Swaps designated as hedges	0	0	(60,022)
Proceeds from issuance of series C preferred stock	0	0	275,000
Payments made for costs related to series C preferred stock issuance	0	0	(8,948)
Proceeds from issuances of common stock	1,183	1,825	7,441
Payments made for the repurchase of common stock through the stock repurchase program	(102,311)	(85,591)	(50,835)
Proceeds from the issuance of warrants	0	0	14,041
Payments made for the repurchase of warrants	0	0	(33,650)
Dividends paid on preferred stock	(32,875)	(32,875)	(29,796)
Dividends paid on common stock and dividend equivalents	(184,035)	(156,140)	(113,508)
Net cash provided by/(used in) financing activities	850,213	1,629,663	(5,735,049)
Net increase in cash, cash equivalents and restricted cash	89,634	(417,072)	686,855
Cash, cash equivalents and restricted cash at beginning of period	404,447	821,519	134,664
Cash, cash equivalents and restricted cash at end of period	494,081	404,447	821,519
Supplemental Disclosure of Cash Flow Information
Interest Paid	239,185	116,966	254,270
Non-cash Investing and Financing Activities:
Transfer from residential whole loans to real estate owned	82,911	72,304	96,766
Dividends and dividend equivalents declared and unpaid	35,769	47,751	34,016
Right-of-use lease asset and lease liability	0	40,893	0
Repayment of Lima One preferred stock in connection with the Lima One transaction	0	22,030	0
Receivable for sale of unsettled residential whole loans	275,656	0	0
Payable for purchase of unsettled Agency MBS	132,025	0	0
Deconsolidation of securitized Agency eligible investor loans and related debt	$ 490,952	$ 0	$ 0