CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows From Operating Activities:
Net Income (loss)	$ (9,582)	$ (238,291)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Net (gain)/loss on residential whole loans	134,423	789,858
Impairment and other net (gain)/loss on securities and other portfolio investments, net	15,142	16,155
Net gain on real estate owned	(8,380)	(19,324)
Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities	(14,650)	(12,054)
Provision for credit losses on residential whole loans and other assets	1,363	26,203
Net loss/(gain) on derivatives used for risk management purposes	(3,571)	(260,624)
Net loss/(gain) on securitized debt measured at fair value through earnings	(22,291)	(247,970)
Net margin (paid)/received for derivatives used for risk management purposes	68,337	215,149
Net other non-cash losses included in net income	21,093	23,498
(Increase)/decrease in other assets	(88,645)	60,810
Increase/(decrease) in other liabilities	11,683	(4,764)
Net cash provided by operating activities	104,922	348,646
Cash Flows From Investing Activities:
Purchases and origination of residential whole loans, loan related investments and capitalized advances	(2,151,734)	(2,699,331)
Proceeds from sales of residential whole loans	264,935	0
Principal payments on residential whole loans and loan related investments	1,070,744	1,536,863
Purchases of securities	(535,658)	0
Proceeds from sales of securities and other assets	5,067	15,660
Principal payments on securities	26,739	3,427
Proceeds from sales of real estate owned	92,410	105,151
Other investing activities	(12,883)	10,546
Net cash used in investing activities	(1,240,380)	(1,027,684)
Cash Flows From Financing Activities:
Principal payments on financing agreements with mark-to-market collateral provisions	(1,988,935)	(2,745,242)
Proceeds from borrowings under financing agreements with mark-to-market collateral provisions	2,128,152	2,307,260
Principal payments on other collateralized financing agreements	(1,412,363)	(1,655,260)
Proceeds from borrowings under other collateralized financing agreements	2,520,218	3,248,756
Payment made for other collateralized financing agreement related costs	(9,891)	(14,646)
Redemption of convertible senior notes	(10,309)	0
Proceeds from issuances of common stock	13	1,156
Payments made for the repurchase of common stock through the stock repurchase program	0	(102,311)
Dividends paid on preferred stock	(24,656)	(24,656)
Dividends paid on common stock and dividend equivalents	(107,314)	(139,070)
Net cash provided by financing activities	1,094,915	875,987
Net (decrease)/increase in cash, cash equivalents and restricted cash	(40,543)	196,949
Cash, cash equivalents and restricted cash at beginning of period	494,081	404,447
Cash, cash equivalents and restricted cash at end of period	453,538	601,396
Supplemental Disclosure of Cash Flow Information
Interest paid	293,887	151,747
Non-cash Investing and Financing Activities:
Transfer from residential whole loans to real estate owned	66,171	61,875
Dividends and dividend equivalents declared and unpaid	$ 35,789	$ 44,964