CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows From Operating Activities:
Net income/(loss)	$ 72,784	$ (82,906)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Net (gain)/loss on residential whole loans	(129,174)	285,522
Impairment and other net (gain)/loss on securities and other portfolio investments, net	(2,932)	2,921
Net gain on real estate owned	(3,936)	(8,249)
Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities	(4,507)	(4,135)
Reversal of provision for credit losses on residential whole loans and other assets	(4)	(4,038)
Net loss/(gain) on derivatives used for risk management purposes	42,879	(99,630)
Net loss/(gain) on securitized debt measured at fair value through earnings	48,846	(62,855)
Net margin (paid)/received for derivatives used for risk management purposes	(28,428)	75,334
Net other non-cash losses included in net income	7,855	8,990
(Increase)/decrease in other assets	(27,522)	21,997
Increase/(decrease) in other liabilities	11,471	609
Net cash (used in)/provided by operating activities	(12,668)	133,560
Cash Flows From Investing Activities:
Purchases and origination of residential whole loans, loan related investments and capitalized advances	(459,012)	(1,192,437)
Proceeds from sales of residential whole loans	263,014	0
Principal payments on residential whole loans and loan related investments	321,626	567,114
Purchases of securities	(305,858)	0
Proceeds from sales of securities and other assets	0	369
Principal payments on securities	5,755	1,470
Purchases of real estate owned and capital improvements	(137)	(353)
Proceeds from sales of real estate owned	33,968	41,336
Additions to leasehold improvements, furniture and fixtures	(1,458)	(953)
Net cash used in investing activities	(142,102)	(583,454)
Cash Flows From Financing Activities:
Principal payments on financing agreements with mark-to-market collateral provisions	(766,604)	(586,883)
Proceeds from borrowings under financing agreements with mark-to-market collateral provisions	640,498	965,270
Principal payments on other collateralized financing agreements	(415,443)	(761,122)
Proceeds from borrowings under other collateralized financing agreements	778,400	1,096,258
Payment made for other collateralized financing agreement related costs	(4,602)	(2,870)
Proceeds from issuances of common stock	17	581
Payments made for the repurchase of common stock through the stock repurchase program	0	(54,799)
Dividends paid on preferred stock	(8,219)	(8,219)
Dividends paid on common stock and dividend equivalents	(35,769)	(47,230)
Net cash provided by financing activities	188,278	600,986
Net increase in cash, cash equivalents and restricted cash	33,508	151,092
Cash, cash equivalents and restricted cash at beginning of period	494,081	404,447
Cash, cash equivalents and restricted cash at end of period	527,589	555,539
Supplemental Disclosure of Cash Flow Information
Interest paid	87,057	34,727
Non-cash Investing and Financing Activities:
Transfer from residential whole loans to real estate owned	20,925	22,079
Dividends and dividend equivalents declared and unpaid	35,756	46,357
Payable for unsettled residential whole loan and Treasury Bill purchases	$ 0	$ 329,706