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Financing Agreements - Financing Agreements (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Jan. 11, 2024
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 8,813,253 $ 8,683,152  
Fair Value / Carrying Value $ 8,685,916 $ 8,536,745  
Weighted Average Cost of Funding (in Percent) 4.52% 4.33%  
Senior Notes | 8.875% Senior Notes Due 2029      
Financing Agreements [Line Items]      
Stated interest rate (as a percent) 8.875%   8.875%
Agreements with mark-to-market collateral provisions      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 2,509,819 $ 2,361,146  
Fair Value / Carrying Value $ 2,509,098 $ 2,360,254  
Weighted Average Cost of Funding (in Percent) 7.05% 7.09%  
Agreements with mark-to-market collateral provisions | 0-3 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 970,140    
Agreements with mark-to-market collateral provisions | 3-6 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 492,446    
Agreements with mark-to-market collateral provisions | 6-12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 488,610    
Fair Value / Carrying Value $ 381,900    
Extension period 1 year    
Agreements with mark-to-market collateral provisions | 6-12 Months | Maximum      
Financing Agreements [Line Items]      
Extension period 30 months    
Agreements with mark-to-market collateral provisions | Greater than 12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 558,623    
Fair Value / Carrying Value 970,100    
Agreements with mark-to-market collateral provisions | Estimated Fair Value      
Financing Agreements [Line Items]      
Financing agreements, amortized cost 176,800 $ 469,400  
Agreements with mark-to-market collateral provisions | Estimated Fair Value | Held at Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value   469,400  
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO      
Financing Agreements [Line Items]      
Unpaid Principal Balance 1,904,146 1,738,543  
Fair Value / Carrying Value $ 1,903,425 $ 1,737,651  
Weighted Average Cost of Funding (in Percent) 7.47% 7.50%  
Weighted Average Term to Maturity (Months) 11 months 18 days 11 months 24 days  
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 0-3 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 364,467    
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 3-6 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 492,446    
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 6-12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 488,610    
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Greater than 12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 558,623    
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Not Held at Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value 176,800    
Agreements with mark-to-market collateral provisions | Securities      
Financing Agreements [Line Items]      
Unpaid Principal Balance 605,673 $ 622,603  
Fair Value / Carrying Value $ 605,673 $ 622,603  
Weighted Average Cost of Funding (in Percent) 5.79% 5.81%  
Weighted Average Term to Maturity (Months) 9 days 6 days  
Agreements with mark-to-market collateral provisions | Securities | 0-3 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 605,673    
Agreements with mark-to-market collateral provisions | Securities | 3-6 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 0    
Agreements with mark-to-market collateral provisions | Securities | 6-12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 0    
Agreements with mark-to-market collateral provisions | Securities | Greater than 12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 0    
Agreements with Non-mark-to-market Collateral Provisions | Estimated Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value   $ 178,900  
Financing agreements, amortized cost 399,000 178,900  
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO      
Financing Agreements [Line Items]      
Unpaid Principal Balance 1,103,010 1,217,671  
Fair Value / Carrying Value $ 1,102,114 $ 1,216,697  
Weighted Average Cost of Funding (in Percent) 7.89% 7.94%  
Weighted Average Term to Maturity (Months) 17 months 12 days 20 months 18 days  
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 0-3 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 49,138    
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 3-6 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 31,654    
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 6-12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 23,077    
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | Greater than 12 Months      
Financing Agreements [Line Items]      
Unpaid Principal Balance 999,141    
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | Held at Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value $ 399,000    
Securities | Estimated Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value   $ 4,000,000  
Weighted Average Cost of Funding (in Percent) (1.31%) (1.40%)  
Financing agreements, amortized cost $ 4,100,000 $ 4,100,000  
Securities | Residential Whole Loans and REO      
Financing Agreements [Line Items]      
Unpaid Principal Balance 4,915,695 4,894,746  
Fair Value / Carrying Value $ 4,794,400 $ 4,750,805  
Weighted Average Cost of Funding (in Percent) 4.59% 4.37%  
Securities | Residential Whole Loans and REO | Held at Fair Value      
Financing Agreements [Line Items]      
Fair Value / Carrying Value $ 4,100,000    
Convertible senior notes | Unsecured      
Financing Agreements [Line Items]      
Unpaid Principal Balance 169,729 $ 209,589  
Fair Value / Carrying Value $ 169,529 $ 208,989  
Weighted Average Cost of Funding (in Percent) 6.94% 6.94%  
Weighted Average Term to Maturity (Months) 2 months 15 days 5 months 15 days  
Impact of net Swap carry | Unsecured      
Financing Agreements [Line Items]      
Weighted Average Cost of Funding (in Percent) (1.31%) (1.40%)  
8.875% Senior Notes Due 2029 | Unsecured      
Financing Agreements [Line Items]      
Unpaid Principal Balance $ 115,000    
Fair Value / Carrying Value $ 110,775    
Weighted Average Cost of Funding (in Percent) 9.80%    
Weighted Average Term to Maturity (Months) 58 months 18 days