Borrowings (Tables)

12 Months Ended

Dec. 31, 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), reverse mortgage loans, and U.S. Treasury securities by remaining maturity as of December 31, 2023 and 2022:

	December 31, 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	$	1,076,710	5.55	%	17	$	668,924	4.09	%	14
31-60 Days	15,786		5.81	%	49	91,048		2.32	%	45
61-90 Days	914		6.16	%	72	158,782		3.96	%	73
91-120 Days	—		—	%	—	4,751		5.20	%	118
121-150 Days	—		—	%	—	16,148		4.76	%	131
151-180 Days	1,931		6.23	%	159	—		—	%	—
Total Agency RMBS	1,095,341		5.55	%	18	939,653		3.91	%	29
Credit Assets:
30 Days or Less	124,617		6.80	%	22	462,284		6.40	%	7
31-60 Days	136,434		7.03	%	41	119,619		6.00	%	48
61-90 Days	82,992		6.85	%	74	119,471		6.13	%	77
91-120 Days	290,215		7.36	%	116	358,010		6.30	%	116
121-150 Days	—		—	%	—	142,939		7.12	%	144
151-180 Days	5,980		6.68	%	161	6,981		6.72	%	156
181-364 Days	867,983		7.61	%	268	391,381		6.74	%	240
> 364 Days	58,631		8.61	%	513	—		—	%	—
Total Credit Assets	1,566,852		7.44	%	199	1,600,685		6.48	%	110
Reverse Mortgage Loans:
181-364 Days	150,228		7.97	%	282	—		—	%	—
Total Reverse Mortgage Loans	150,228		7.97	%	282	—		—	%	—
U.S. Treasury Securities:
30 Days or Less	155,016		5.51	%	2	69,347		4.31	%	3
Total U.S. Treasury Securities	155,016		5.51	%	2	69,347		4.31	%	3
Total	$	2,967,437	6.67	%	126	$	2,609,685	5.50	%	78

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, 2023 and 2022.

December 31, 2023:

Counterparty	Amount at Risk		Weighted Average Remaining Days to Maturity	Percentage of Equity
	(In thousands)
Nomura Holdings Inc.	$	216,886	246	14.2	%

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.

		December 31, 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)						(In thousands)
Facility A	May 2024	$	83,393	$	99,340	8.95	%	$	59,640	$	65,652	8.43	%
Facility B	April 2024	76,717		88,251		8.21	%	64,278		59,933		6.99	%
Facility C	October 2023	—		—		—	%	48,954		63,644		6.90	%
		$	160,110	$	187,591	8.60	%	$	172,872	$	189,229	7.46	%

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, 2023:

Year	Repurchase Agreements(1)		Other Secured Borrowings(2)		HMBS-related Obligations(3)		Unsecured Borrowings(1)		Total
(In thousands)
Next Twelve Months	$	2,908,806	$	387,887	$	1,253,143	$	—	$	4,549,836
Year 2	58,631		312,325		914,565		34,931		1,320,452
Year 3	—		238,353		865,638		37,750		1,141,741
Year 4	—		163,168		821,258		210,000		1,194,426
Year 5	—		124,385		188,390		—		312,775
Total	$	2,967,437	$	1,226,118	$	4,042,994	$	282,681	$	8,519,230

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

(2)Includes $980.3 million 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.