Borrowings (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

The following table details the Company's outstanding borrowings under repurchase agreements for Agency RMBS, credit assets (which can include non-Agency RMBS, CMBS, CLOs, consumer loans, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), and reverse mortgage loans, by remaining maturity as of June 30, 2023 and December 31, 2022:

	June 30, 2023					December 31, 2022
			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	$	561,294	5.28	%	13	$	668,924	4.09	%	14
31-60 Days	167,598		5.26	%	47	91,048		2.32	%	45
61-90 Days	5,833		5.75	%	85	158,782		3.96	%	73
91-120 Days	—		—	%	—	4,751		5.20	%	118
121-150 Days	60,231		5.26	%	136	16,148		4.76	%	131
151-180 Days	2,144		6.09	%	160	—		—	%	—
Total Agency RMBS	797,100		5.28	%	30	939,653		3.91	%	29
Credit:
30 Days or Less	32,734		6.65	%	20	462,284		6.40	%	7
31-60 Days	107,607		6.77	%	45	119,619		6.00	%	48
61-90 Days	346,370		6.95	%	81	119,471		6.13	%	77
91-120 Days	360,357		7.03	%	116	358,010		6.30	%	116
121-150 Days	847		6.92	%	132	142,939		7.12	%	144
151-180 Days	5,009		6.60	%	160	6,981		6.72	%	156
181-364 Days	475,256		7.45	%	192	391,381		6.74	%	240
> 364 Days	193,521		8.28	%	531	—		—	%	—
Total Credit Assets	1,521,701		7.27	%	178	1,600,685		6.48	%	110
Reverse Mortgage Loans:
61-90 Days	78,734		7.56	%	82	—		—	%	—
Total Reverse Mortgage Loans	78,734		7.56	%	82	—		—	%	—
U.S. Treasury Securities:
30 Days or Less	160,329		5.22	%	3	69,347		4.31	%	3
Total U.S. Treasury Securities	160,329		5.22	%	3	69,347		4.31	%	3
Total	$	2,557,864	6.53	%	118	$	2,609,685	5.50	%	78

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 June 30, 2023:

Year	Repurchase Agreements(1)		Other Secured Borrowings(2)		HMBS-related Obligations(3)		Senior Notes(1)		Total
(In thousands)
Next Twelve Months	$	2,364,343	$	352,444	$	1,318,473	$	—	$	4,035,260
Year 2	193,521		293,817		906,903		—		1,394,241
Year 3	—		277,390		776,055		—		1,053,445
Year 4	—		190,568		801,928		210,000		1,202,496
Year 5	—		141,520		725,812		—		867,332
Total	$	2,557,864	$	1,255,739	$	4,529,171	$	210,000	$	8,552,774

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

(2)Includes $1.013 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 June 30, 2023 and December 31, 2022.

June 30, 2023:

Counterparty	Amount at Risk		Weighted Average Remaining Days to Maturity	Percentage of Equity
	(In thousands)
Nomura Holdings Inc.	$	234,594	184	17.5	%
Royal Bank of Canada	138,456		99	10.3	%

December 31, 2022:

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.

		June 30, 2023						December 31, 2022
	Maturity	Outstanding Borrowings		Fair Value of Underlying Collateral		Effective Interest Rate		Outstanding Borrowings		Fair Value of Underlying Collateral		Effective Interest Rate
								(In thousands)
Facility A	May 2024	$	84,427	$	102,856	8.97	%	$	59,640	$	65,652	8.43	%
Facility B	April 2024	19,033		20,600		7.84	%	64,278		59,933		6.99	%
Facility C	September 2023	20,793		29,349		7.67	%	48,954		63,644		6.90	%
		$	124,253	$	152,805	8.58	%	$	172,872	$	189,229	7.46	%