Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Repurchase Agreements [Table Text Block]

The following table details the Company's outstanding borrowings under repurchase agreements for Agency RMBS and credit assets (which can include non-Agency RMBS, CMBS, CLOs, consumer loans, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), by remaining maturity as of December 31, 2022 and 2021:


	December 31, 2022					December 31, 2021
			Weighted Average					Weighted Average
Remaining Maturity	Outstanding Borrowings		Interest Rate		Remaining Days to Maturity	Outstanding Borrowings		Interest Rate		Remaining Days to Maturity
Agency RMBS:	(In thousands)					(In thousands)
30 Days or Less	$	668,924	4.09	%	14	$	180,059	0.17	%	9
31-60 Days	91,048		2.32	%	45	254,027		0.23	%	44
61-90 Days	158,782		3.96	%	73	154,520		0.20	%	70
91-120 Days	4,751		5.20	%	118	129,057		0.16	%	105
121-150 Days	16,148		4.76	%	131	275,915		0.17	%	136
151-180 Days	—		—	%	—	71,824		0.16	%	164
181-364 Days	—		—	%	—	570,694		0.20	%	260
> 364 Days	—		—	%	—	3,791		0.13	%	366
Total Agency RMBS	939,653		3.91	%	29	1,639,887		0.19	%	144
Credit:
30 Days or Less	462,284		6.40	%	7	377,440		2.09	%	16
31-60 Days	119,619		6.00	%	48	102,567		1.38	%	44
61-90 Days	119,471		6.13	%	77	96,823		1.50	%	78
91-120 Days	358,010		6.30	%	116	35,346		2.00	%	109
121-150 Days	142,939		7.12	%	144	3,353		1.56	%	139
151-180 Days	6,981		6.72	%	156	87,863		2.82	%	151
181-364 Days	391,381		6.74	%	240	—		—	%	—
> 364 Days	—		—	%	—	126,484		2.58	%	462
Total Credit Assets	1,600,685		6.48	%	110	829,876		2.08	%	114
U.S. Treasury Securities:
30 Days or Less	69,347		4.31	%	3	—		—	%	—
Total U.S. Treasury Securities	69,347		4.31	%	3	—		—	%	—
Total	$	2,609,685	5.50	%	78	$	2,469,763	0.82	%	134

Schedule of Maturities of Long-term Debt [Table Text Block]

Schedule of Principal Repayments

The following table details the Company's principal repayment schedule, over the next 5 years, for outstanding borrowings as of December 31, 2022:


Year	Repurchase Agreements(1)		Other Secured Borrowings(2)		HMBS-related Obligations(3)		Senior Notes(1)		Total
(In thousands)
Next Twelve Months	$	2,609,685	$	486,088	$	1,566,057	$	—	$	4,661,830
Year 2	—		313,129		1,187,826		—		1,500,955
Year 3	—		305,673		822,194		—		1,127,867
Year 4	—		272,371		702,997		—		975,368
Year 5	—		148,555		657,388		210,000		1,015,943
Total	$	2,609,685	$	1,525,816	$	4,936,462	$	210,000	$	9,281,963

(1)Reflects the Company's contractual principal repayment dates.

(2)Includes $1.250 billion of expected principal repayments related to the Company's consolidated non-QM securitizations, which are projected based upon the underlying assets' expected repayments and may be prior to the stated contractual maturities.

(3)Represents expected principal repayments projected based upon the expected repayments of the underlying HECM loans, which may be prior to the stated contractual maturities of the related HMBS.

Schedule of Repurchase Agreement Counterparties with Whom Repurchase Agreements Exceed 10 Percent of Stockholders' Equity

The following table provides details by counterparty for such counterparties for which the amounts at risk relating to our repurchase agreements was greater than 10% of total equity as of December 31, 2022. There was no counterparty for which the amount at risk was greater than 10% of total equity as of December 31, 2021.


Counterparty	Amount at Risk		Weighted Average Remaining Days to Maturity	Percentage of Equity
	(In thousands)
Nomura Holdings Inc.	$	208,812	13	17.1	%
Royal Bank of Canada	$	135,233	100	11.1	%

Schedule of Line of Credit Facilities

The following table provides details for each of the warehouse lines of credit.


		December 31, 2022
	Maturity	Outstanding Borrowings		Fair Value of Underlying Collateral		Effective Interest Rate
		(In thousands)
Facility A	April 2023	$	59,640	$	65,652	8.43	%
Facility B	April 2023	64,278		59,933		6.99	%
Facility C	June 2023	48,954		63,644		6.90	%
		$	172,872	$	189,229	7.46	%