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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 1,570,000 $ 2,165,000
Operating activities:    
Net income (loss) 564,000 (1,703,000)
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums and discounts on mortgage-backed securities, net 128,000 607,000
Stock based compensation 8,000 7,000
Gain on sale of investment securities, net (12,000) (647,000)
Unrealized (gain) loss on investment securities measured at fair value through net income, net 983,000 (876,000)
(Gain) loss on derivative instruments and other securities, net (821,000) 3,539,000
(Increase) decrease in other assets (52,000) 59,000
Decrease in accounts payable and other accrued liabilities (27,000) (210,000)
Net cash provided by operating activities 771,000 776,000
Investing activities:    
Purchases of Agency mortgage-backed securities (23,954,000) (39,715,000)
Purchases of credit risk transfer and non-Agency securities (1,310,000) (396,000)
Proceeds from sale of Agency mortgage-backed securities 18,311,000 54,967,000
Proceeds from sale of credit risk transfer and non-Agency securities 931,000 536,000
Principal collections on Agency mortgage-backed securities 8,791,000 7,867,000
Principal collections on credit risk transfer and non-Agency securities 36,000 49,000
Payments on U.S. Treasury securities (10,536,000) (19,793,000)
Proceeds from U.S. Treasury securities 10,172,000 16,206,000
Net proceeds from (payments on) reverse repurchase agreements (233,000) 2,270,000
Net proceeds from (payments on) derivative instruments 593,000 (2,682,000)
Net cash provided by investing activities 2,801,000 19,309,000
Financing activities:    
Proceeds from repurchase arrangements 1,163,175,000 2,166,205,000
Payments on repurchase agreements (1,166,804,000) (2,185,702,000)
Payments on debt of consolidated variable interest entities (26,000) (29,000)
Net proceeds from preferred stock issuance 0 (557,000)
Net proceeds from common stock issuance 0 439,000
Payments for common stock repurchases (239,000) (147,000)
Cash dividends paid (432,000) (525,000)
Net cash provided used in financing activities (4,326,000) (19,202,000)
Net change in cash and cash equivalents (754,000) $ 883,000
Cash and cash equivalents at end of period $ 947,000