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Investment in Securities (Summary of Investment in Securities) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Securities, Available-for-sale [Line Items]    
Current Principal $ 1,788,457 $ 1,408,233
Unamortized Premium (Discount) (156,693) (196,118)
Amortized Cost 1,815,909 1,474,155
Gross Unrealized Gains 53,130 60,617
Gross Unrealized Losses (56,310) (59,229)
Investment Owned At Fair Value, Net 1,812,729 1,475,543
Securities, at fair value(1)(2) [1],[2] 1,909,127 1,514,185
Securities sold short, at fair value $ (96,398) $ (38,642)
Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.68% 3.92%
Weighted Average Yield 3.62% 4.77%
Weighted average life 5 years 4 months 17 days 4 years 5 months 26 days
Long    
Securities, Available-for-sale [Line Items]    
Current Principal $ 1,887,715 $ 1,446,237
Unamortized Premium (Discount) (160,095) (199,280)
Amortized Cost 1,911,765 1,508,997
Gross Unrealized Gains 51,553 60,617
Gross Unrealized Losses (54,191) (55,429)
Securities, at fair value(1)(2) $ 1,909,127 $ 1,514,185
Long | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.53% 3.84%
Weighted Average Yield 3.76% 4.88%
Weighted average life 5 years 5 months 4 days 4 years 5 months 12 days
Long | 15-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 177,384 $ 67,875
Unamortized Premium (Discount) 8,396 2,543
Amortized Cost 185,780 70,418
Gross Unrealized Gains 1,680 1,832
Gross Unrealized Losses (1,646) (36)
Securities, at fair value(1)(2) $ 185,814 $ 72,214
Long | 15-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 2.64% 3.30%
Weighted Average Yield 1.28% 1.83%
Weighted average life 4 years 5 months 12 days 3 years 2 months 26 days
Long | 20-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 52,654 $ 50,131
Unamortized Premium (Discount) 3,140 3,097
Amortized Cost 55,794 53,228
Gross Unrealized Gains 45 182
Gross Unrealized Losses (1,125) 0
Securities, at fair value(1)(2) $ 54,714 $ 53,410
Long | 20-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 2.48% 2.57%
Weighted Average Yield 1.09% 1.08%
Weighted average life 5 years 4 months 13 days 4 years 5 months 15 days
Long | 30-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 1,037,659 $ 626,021
Unamortized Premium (Discount) 55,060 30,738
Amortized Cost 1,092,719 656,759
Gross Unrealized Gains 19,811 25,765
Gross Unrealized Losses (12,610) (444)
Securities, at fair value(1)(2) $ 1,099,920 $ 682,080
Long | 30-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.32% 3.99%
Weighted Average Yield 1.92% 2.35%
Weighted average life 6 years 10 days 4 years 2 months 1 day
Long | Adjustable rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 5,526 $ 6,171
Unamortized Premium (Discount) 145 159
Amortized Cost 5,671 6,330
Gross Unrealized Gains 136 124
Gross Unrealized Losses 0 0
Securities, at fair value(1)(2) $ 5,807 $ 6,454
Long | Adjustable rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.48% 3.66%
Weighted Average Yield 2.60% 2.27%
Weighted average life 4 years 1 month 20 days 3 years 5 months 1 day
Long | Reverse mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 85,309 $ 89,383
Unamortized Premium (Discount) 4,840 5,152
Amortized Cost 90,149 94,535
Gross Unrealized Gains 2,339 3,123
Gross Unrealized Losses (12) (29)
Securities, at fair value(1)(2) $ 92,476 $ 97,629
Long | Reverse mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.66% 3.97%
Weighted Average Yield 2.35% 2.37%
Weighted average life 4 years 6 months 14 days 4 years 7 months 6 days
Long | Interest only securities    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 44,867 $ 43,406
Gross Unrealized Gains 6,034 5,808
Gross Unrealized Losses (1,850) (1,558)
Securities, at fair value(1)(2) $ 49,051 $ 47,656
Long | Interest only securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.47% 3.36%
Weighted Average Yield 9.39% 10.01%
Weighted average life 5 years 4 months 20 days 4 years 10 months 6 days
Long | Non-Agency RMBS    
Securities, Available-for-sale [Line Items]    
Current Principal $ 332,129 $ 321,842
Unamortized Premium (Discount) (142,479) (131,083)
Amortized Cost 189,650 190,759
Gross Unrealized Gains 11,640 15,880
Gross Unrealized Losses (4,677) (5,549)
Securities, at fair value(1)(2) $ 196,613 $ 201,090
Long | Non-Agency RMBS | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 4.15% 3.15%
Weighted Average Yield 6.95% 6.40%
Weighted average life 5 years 6 months 7 days 5 years 5 months 15 days
Long | CMBS    
Securities, Available-for-sale [Line Items]    
Current Principal $ 79,301 $ 188,085
Unamortized Premium (Discount) (35,426) (61,763)
Amortized Cost 43,875 126,322
Gross Unrealized Gains 1,329 1,655
Gross Unrealized Losses (6,574) (16,910)
Securities, at fair value(1)(2) $ 38,630 $ 111,067
Long | CMBS | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 2.72% 2.71%
Weighted Average Yield 8.54% 7.47%
Weighted average life 7 years 8 months 19 days 8 years 1 month 2 days
Long | Non-Agency IOs    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 8,918 $ 8,123
Gross Unrealized Gains 1,861 1,792
Gross Unrealized Losses (190) (305)
Securities, at fair value(1)(2) $ 10,589 $ 9,610
Long | Non-Agency IOs | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 1.08% 1.17%
Weighted Average Yield 8.56% 18.85%
Weighted average life 5 years 1 month 28 days 3 years 5 months 26 days
Long | CLOs    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 126,830 $ 208,907
Gross Unrealized Gains 2,695 2,563
Gross Unrealized Losses (23,126) (30,199)
Securities, at fair value(1)(2) $ 106,399 $ 181,271
Long | CLOs | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.80% 3.67%
Weighted Average Yield 9.12% 8.50%
Weighted average life 3 years 4 months 28 days 3 years 6 months
Long | Asset-backed securities, backed by consumer loans    
Securities, Available-for-sale [Line Items]    
Current Principal $ 90,892 $ 69,646
Unamortized Premium (Discount) (31,149) (24,936)
Amortized Cost 59,743 44,710
Gross Unrealized Gains 2,069 221
Gross Unrealized Losses (2,339) (6)
Securities, at fair value(1)(2) $ 59,473 $ 44,925
Long | Asset-backed securities, backed by consumer loans | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 9.81% 11.95%
Weighted Average Yield 18.73% 18.57%
Weighted average life 1 year 2 months 19 days 1 year 1 month 9 days
Long | Corporate debt securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ 26,861 $ 27,083
Unamortized Premium (Discount) (22,622) (23,187)
Amortized Cost 4,239 3,896
Gross Unrealized Gains 1,302 1,296
Gross Unrealized Losses (20) (3)
Securities, at fair value(1)(2) $ 5,521 $ 5,189
Long | Corporate debt securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 1.34% 2.13%
Weighted Average Yield 7.58% 6.75%
Weighted average life 2 years 7 months 17 days 3 years 1 month 6 days
Long | Corporate equity securities    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 3,530 $ 1,604
Gross Unrealized Gains 612 376
Gross Unrealized Losses (22) (390)
Securities, at fair value(1)(2) 4,120 1,590
Short    
Securities, Available-for-sale [Line Items]    
Current Principal (99,258) (38,004)
Unamortized Premium (Discount) 3,402 3,162
Investment Sold, Not yet Purchased, Sale Proceeds (95,856) (34,842)
Gross Unrealized Gains 1,577 0
Gross Unrealized Losses (2,119) (3,800)
Securities sold short, at fair value $ (96,398) $ (38,642)
Short | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.64% 0.26%
Weighted Average Yield 0.80% 0.09%
Weighted average life 6 years 3 months 10 days 3 years 1 month 17 days
Short | Corporate debt securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ (200) $ (200)
Unamortized Premium (Discount) (1) (1)
Investment Sold, Not yet Purchased, Sale Proceeds (201) (201)
Gross Unrealized Gains 0 0
Gross Unrealized Losses (18) (17)
Securities sold short, at fair value $ (219) $ (218)
Short | Corporate debt securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 5.11% 5.09%
Weighted Average Yield 4.67% 4.67%
Weighted average life 6 years 2 months 1 day 6 years 5 months 1 day
Short | U.S. Treasury securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ (62,750)  
Unamortized Premium (Discount) 1,721  
Investment Sold, Not yet Purchased, Sale Proceeds (61,029)  
Gross Unrealized Gains 1,577  
Gross Unrealized Losses 0  
Securities sold short, at fair value $ (59,452)  
Short | U.S. Treasury securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.86%  
Weighted Average Yield 1.21%  
Weighted average life 8 years 4 months 17 days  
Short | European sovereign bonds    
Securities, Available-for-sale [Line Items]    
Current Principal $ (36,308) $ (37,804)
Unamortized Premium (Discount) 1,682 3,163
Investment Sold, Not yet Purchased, Sale Proceeds (34,626) (34,641)
Gross Unrealized Gains 0 0
Gross Unrealized Losses (2,101) (3,783)
Securities sold short, at fair value $ (36,727) $ (38,424)
Short | European sovereign bonds | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.22% 0.23%
Weighted Average Yield 0.06% 0.06%
Weighted average life 2 years 10 months 9 days 3 years 1 month 9 days
[1] Ellington Financial Inc.'s Condensed Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.
[2] Includes assets pledged as collateral to counterparties. See Note 11 for additional details on the Company's borrowings and related collateral.