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Valuation (Significant Unobservable Inputs Rollforward) (Details) - Level 3 - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance $ 12,917,482 $ 12,034,361
Assets, Accreted Discounts/Amortized Premiums 240 (3,233)
Assets, Realized Gain (Loss) (4,029) (3,337)
Assets, Change In Net Unrealized Gain/(Loss) 218,218 218,706
Assets, Purchases 1,002,898 856,154
Assets, Sales (893,311) (888,564)
Assets, Transfers into Level 3 5,546 25,486
Assets, Transfers out of Level 3 (28,131) (1,925)
Assets, Ending Balance 13,218,913 12,237,648
Liabilities, Beginning Balance (10,120,668) (9,518,871)
Liabilities, Accreted Discounts/Amortized Premiums (652) (402)
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) (189,012) (154,704)
Liabilities Purchases/Payments 305,641 310,989
Liabilities, Sales/Issuance (454,857) (332,845)
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (10,459,548) (9,695,833)
Non-Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Total assets 100,777  
CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Total assets 14,695  
CLOs    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Total assets 23,377  
Asset-backed securities, backed by consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Total assets 86,234  
Other secured borrowings, at fair value    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Liabilities, Beginning Balance (1,424,668) (1,539,881)
Liabilities, Accreted Discounts/Amortized Premiums (652) (402)
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) (12,524) (29,680)
Liabilities Purchases/Payments 31,184 35,371
Liabilities, Sales/Issuance (162,489) 0
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (1,569,149) (1,534,592)
Change in unrealized gains (losses), liabilities (12,500) (29,700)
Unsecured Borrowings    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Liabilities, Beginning Balance (272,765) (191,835)
Liabilities, Accreted Discounts/Amortized Premiums 0 0
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) 1,829 6,510
Liabilities Purchases/Payments 0 0
Liabilities, Sales/Issuance 0 0
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (270,936) (185,325)
Change in unrealized gains (losses), liabilities 1,800 6,500
HMBS-related obligations    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Liabilities, Beginning Balance (8,423,235) (7,787,155)
Liabilities, Accreted Discounts/Amortized Premiums 0 0
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) (178,317) (131,534)
Liabilities Purchases/Payments 274,457 275,618
Liabilities, Sales/Issuance (292,368) (332,845)
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (8,619,463) (7,975,916)
Change in unrealized gains (losses), liabilities (178,000) (131,500)
Securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets 8,000 (3,600)
Securities | Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 5,512 7,027
Assets, Accreted Discounts/Amortized Premiums (257) (349)
Assets, Realized Gain (Loss) 1 (13)
Assets, Change In Net Unrealized Gain/(Loss) (152) 156
Assets, Purchases 315 141
Assets, Sales (131) (872)
Assets, Transfers into Level 3 1,434 194
Assets, Transfers out of Level 3 0 (91)
Assets, Ending Balance 6,722 6,193
Securities | Non-Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 155,240 132,502
Assets, Accreted Discounts/Amortized Premiums (933) 132
Assets, Realized Gain (Loss) 1,374 891
Assets, Change In Net Unrealized Gain/(Loss) 6,241 (4,376)
Assets, Purchases 3,857 30,533
Assets, Sales (38,870) (23,422)
Assets, Transfers into Level 3 1,404 21,582
Assets, Transfers out of Level 3 (27,536) (1,565)
Assets, Ending Balance 100,777 156,277
Securities | CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 14,143 12,649
Assets, Accreted Discounts/Amortized Premiums 188 50
Assets, Realized Gain (Loss) 136 0
Assets, Change In Net Unrealized Gain/(Loss) 590 (1,421)
Assets, Purchases 336 0
Assets, Sales (1,098) 0
Assets, Transfers into Level 3 995 758
Assets, Transfers out of Level 3 595 269
Assets, Ending Balance 14,695 11,767
Securities | CLOs    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 20,439 24,598
Assets, Accreted Discounts/Amortized Premiums (277) 169
Assets, Realized Gain (Loss) (3,629) 89
Assets, Change In Net Unrealized Gain/(Loss) 3,655 (614)
Assets, Purchases 3,916 1,481
Assets, Sales (2,440) (1)
Assets, Transfers into Level 3 1,713 2,952
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 23,377 28,674
Securities | Asset-backed securities, backed by consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 74,226 73,644
Assets, Accreted Discounts/Amortized Premiums (2,069) (1,327)
Assets, Realized Gain (Loss) (1,353) 78
Assets, Change In Net Unrealized Gain/(Loss) 561 (2,072)
Assets, Purchases 8,291 12,140
Assets, Sales (8,111) (10,263)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 71,545 72,200
Securities | Other asset-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 7,696  
Assets, Accreted Discounts/Amortized Premiums 368  
Assets, Realized Gain (Loss) 0  
Assets, Change In Net Unrealized Gain/(Loss) (357)  
Assets, Purchases 6,993  
Assets, Sales (11)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 14,689  
Securities | Corporate debt securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 8,041 7,533
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 33 (258)
Assets, Change In Net Unrealized Gain/(Loss) 631 271
Assets, Purchases 5,156 2,895
Assets, Sales (932) (2,094)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 12,929 8,347
Securities | Corporate equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 12,294 11,111
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 739 0
Assets, Change In Net Unrealized Gain/(Loss) (458) (40)
Assets, Purchases 0 31
Assets, Sales (2,147) 0
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 10,428 11,102
Loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets 204,100 225,500
Loans | Residential mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 3,093,912 3,115,518
Assets, Accreted Discounts/Amortized Premiums (254) (1,662)
Assets, Realized Gain (Loss) (2,496) (5,588)
Assets, Change In Net Unrealized Gain/(Loss) 6,085 53,645
Assets, Purchases 516,075 320,212
Assets, Sales (453,146) (457,381)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 3,160,176 3,024,744
Loans | Commercial mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 266,595 404,324
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 (2)
Assets, Change In Net Unrealized Gain/(Loss) (1,111) 340
Assets, Purchases 105,956 36,220
Assets, Sales (77,340) (66,649)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 294,100 374,233
Loans | Consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 1,759 4,843
Assets, Accreted Discounts/Amortized Premiums (123) (246)
Assets, Realized Gain (Loss) (28) 96
Assets, Change In Net Unrealized Gain/(Loss) 22 (254)
Assets, Purchases 109 300
Assets, Sales (450) (770)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 1,289 3,969
Loans | Corporate loan [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 5,819 4,086
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 (100)
Assets, Change In Net Unrealized Gain/(Loss) (100) 1
Assets, Purchases 585 936
Assets, Sales (85) (3)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 6,219 4,920
Loans | Reverse mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 8,938,551 8,097,237
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 (3)
Assets, Change In Net Unrealized Gain/(Loss) 199,307 171,567
Assets, Purchases 317,050 420,478
Assets, Sales (272,460) (284,578)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 9,182,448 8,404,701
Forward MSR-related Investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 163,336  
Assets, Accreted Discounts/Amortized Premiums 3,597  
Assets, Realized Gain (Loss) 0  
Assets, Change In Net Unrealized Gain/(Loss) 1,612  
Assets, Purchases 0  
Assets, Sales (8,536)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 160,009  
Change in unrealized gain (loss), assets 1,600  
Mortgage servicing rights    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 29,580 8,108
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 0
Assets, Change In Net Unrealized Gain/(Loss) 309 (8)
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 29,889 8,100
Change in unrealized gain (loss), assets 300 (8)
Servicing-related asset    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 1,327 999
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 0
Assets, Change In Net Unrealized Gain/(Loss) (1,003) (700)
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 324 299
Change in unrealized gain (loss), assets (1,000) (700)
Loan commitments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 2,584 3,060
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 0
Assets, Change In Net Unrealized Gain/(Loss) 1,333 239
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 3,917 3,299
Change in unrealized gain (loss), assets 1,300 200
Investment in unconsolidated entities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 116,414 127,046
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 1,173 1,472
Assets, Change In Net Unrealized Gain/(Loss) 1,053 1,972
Assets, Purchases 34,259 30,787
Assets, Sales (27,533) (42,530)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 125,366 118,747
Change in unrealized gain (loss), assets 500 (1,900)
Financial Derivatives - Assets    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets (1)  
Financial Derivatives - Assets | Credit default swaps on asset-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 8 76
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 0 1
Assets, Change In Net Unrealized Gain/(Loss) 0 0
Assets, Purchases 0 0
Assets, Sales 0 (1)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance 8 $ 76
Financial Derivatives - Assets | Total return swaps    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 6  
Assets, Accreted Discounts/Amortized Premiums 0  
Assets, Realized Gain (Loss) 21  
Assets, Change In Net Unrealized Gain/(Loss) 0  
Assets, Purchases 0  
Assets, Sales (21)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance $ 6