Financial Derivatives (Schedule of Gains and Losses on Derivative Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	$ (499)	$ 77	$ (2,201)	$ (739)
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	47,278	348	72,315	6,977
Realized gains (losses) on financial derivatives, net	46,779	425	70,114	6,238
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	836	(709)	1,397	(299)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	1,664	(4,971)	46,402	5,297
Unrealized gains (losses) on financial derivatives, net	2,500	(5,680)	47,799	4,998
Derivative [Member]
Derivative [Line Items]
Foreign currency transactions				18
Foreign currency translation	(16)	3	(24)	(30)
Interest rate swaps \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	(499)	77	(2,201)	(739)
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	12,221	(300)	10,072	147
Realized gains (losses) on financial derivatives, net	11,722	(223)	7,871	(592)
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	836	(709)	1,397	(299)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	5,983	(4,221)	40,035	3,454
Unrealized gains (losses) on financial derivatives, net	6,819	(4,930)	41,432	3,155
Credit default swaps on asset-backed securities \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(6)	16	(11)	42
Realized gains (losses) on financial derivatives, net	(6)	16	(11)	42
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(102)	(18)	(102)	(44)
Unrealized gains (losses) on financial derivatives, net	(102)	(18)	(102)	(44)
Credit default swaps on corporate bond indices \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(351)	129	(336)	1,199
Realized gains (losses) on financial derivatives, net	(351)	129	(336)	1,199
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	1,297	(221)	1,704	(1,178)
Unrealized gains (losses) on financial derivatives, net	1,297	(221)	1,704	(1,178)
Credit default swaps on corporate bond indices \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	414	836	237	(88)
Realized gains (losses) on financial derivatives, net	414	836	237	(88)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	3,351	(1,418)	3,657	(890)
Unrealized gains (losses) on financial derivatives, net	3,351	(1,418)	3,657	(890)
Credit default swaps on corporate bonds \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(10)	153	(18)	81
Realized gains (losses) on financial derivatives, net	(10)	153	(18)	81
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	92	(219)	108	(153)
Unrealized gains (losses) on financial derivatives, net	92	(219)	108	(153)
Total return swaps \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps		(860)		(1,202)
Realized gains (losses) on financial derivatives, net		(860)		(1,202)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps		801		940
Unrealized gains (losses) on financial derivatives, net		801		940
TBA securities \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	26,003	(358)	46,791	0
Realized gains (losses) on financial derivatives, net	26,003	(358)	46,791	0
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(3,754)	2,365	71	(62)
Unrealized gains (losses) on financial derivatives, net	(3,754)	2,365	71	(62)
Futures \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	8,390	896	15,049	1,913
Realized gains (losses) on financial derivatives, net	8,390	896	15,049	1,913
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(5,442)	(2,037)	(182)	878
Unrealized gains (losses) on financial derivatives, net	(5,442)	(2,037)	(182)	878
Forwards \| Currency risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	470	(164)	797	(76)
Realized gains (losses) on financial derivatives, net	470	(164)	797	(76)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	315	98	451	725
Unrealized gains (losses) on financial derivatives, net	315	98	451	725
Warrants \| Equity Market/Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	0	0	(413)	0
Realized gains (losses) on financial derivatives, net	0	0	(413)	0
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(254)	(39)	512	(34)
Unrealized gains (losses) on financial derivatives, net	(254)	(39)	512	(34)
Options \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	147	0	147	4,961
Realized gains (losses) on financial derivatives, net	147	0	147	4,961
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	178	(62)	148	1,661
Unrealized gains (losses) on financial derivatives, net	$ 178	$ (62)	$ 148	$ 1,661

Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements

No definition available.

Name:	efc_ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlements
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

- Definition

Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps

+ References

No definition available.

+ Details

Name:	efc_ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlementsofInterestRateSwaps
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

- Definition

Net Realized Gain/Loss on Derivatives including gain (loss) on foreign currency transactions

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainLossonDerivativesincludinggainlossonforeigncurrencytransactions
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Net Realized Gains (Losses) on Periodic Settlements

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainsLossesonPeriodicSettlements
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainsLossesonPeriodicSettlementsofInterestRateSwaps
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Unrealized Gain (Loss) on Derivatives, Including Gain Loss from Foreign Currency Remeasurement

+ References

No definition available.

+ Details

Name:	efc_UnrealizedGainLossonDerivativesIncludingGainLossfromForeignCurrencyRemeasurement
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DerivativeLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Amount before tax of foreign currency transaction realized gain (loss) recognized in the income statement.

+ References

+ Details

Name:	us-gaap_ForeignCurrencyTransactionGainLossRealized
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Amount before tax of foreign currency transaction unrealized gain (loss) recognized in the income statement.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124440516&loc=d3e30840-110895

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=125521441&loc=d3e30690-110894

+ Details

Name:	us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Details

Name:	us-gaap_InvestmentTypeAxis=us-gaap_DerivativeMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateContractMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapsOnAssetBackedSecuritiesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CreditRiskContractMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapAssetBackedIndicesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapCorporateBondIndicesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapsOnCorporateBondsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_TotalReturnSwapMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_TBAsecuritiesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_FutureMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_ForwardContractsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=efc_CurrencyriskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_WarrantMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=efc_EquityMarketCreditRiskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_OptionsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: