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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]    
Net income (loss) $ (2,783,955) $ (2,625,664)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Amortization of premiums and discounts of investments, net 881,012 569,406
Amortization of securitized debt premiums and discounts and deferred financing costs (4,554) (11,020)
Depreciation, amortization and other noncash expenses 16,895 16,538
Net (gains) losses on disposal of investments and other (453,262) 132,249
Net (gains) losses on investments and derivatives 3,350,434 2,245,397
Income from unconsolidated joint ventures (1,349) 2,681
Loan loss provision 168,077 5,703
Payments on purchases of loans held for sale (90,287) (134,504)
Proceeds from sales and repayments of loans held for sale 95,551 113,835
Net receipts (payments) on derivatives (2,538,137) (2,051,618)
Net change in    
Other assets 238,119 (20,707)
Interest receivable 139,240 (75,283)
Interest payable (295,392) 120,399
Other liabilities (62,684) 26,498
Net cash provided by (used in) operating activities (1,340,292) (1,686,090)
Cash flows from investing activities    
Payments on purchases of securities (17,684,740) (43,772,939)
Proceeds from sales of securities 46,806,424 13,189,983
Principal payments on securities 9,328,755 6,105,934
Payments of purchases of loans (1,588,531) (1,451,086)
Proceeds from sales of loans 510,407 335,700
Principal payments on loans 1,040,569 1,931,237
Investments in real estate (820) (11,656)
Proceeds from sales of real estate 0 6,661
Proceeds from reverse repurchase agreements 37,100,000 59,546,512
Payments on reverse repurchase agreements (37,100,000) (58,896,472)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,332 256
Cash acquired in asset acquisition 3,793 0
Net cash provided by (used in) investing activities 38,422,189 (23,015,870)
Cash flows from financing activities    
Proceeds from repurchase agreements and other secured financing 1,910,919,740 2,807,924,726
Payments on repurchase agreements and other secured financing (1,948,434,517) (2,783,914,681)
Proceeds from issuances of securitized debt 1,423,925 1,614,580
Principal payments on securitized debt (540,928) (1,497,815)
Payment of deferred financing cost (553) (4,524)
Net proceeds from stock offerings, direct purchases and dividend reinvestments 405 1,787,879
Redemptions of preferred stock 0 (55,000)
Net principal receipts (payments) on mortgages payable 23,373 (12,475)
Net contributions (distributions) from (to) noncontrolling interests (288) (779)
Net payment on share repurchase (143,664) 0
Dividends paid (786,209) (893,389)
Net cash provided by (used in) financing activities (37,538,716) 24,948,522
Net (decrease) increase in cash and cash equivalents (456,819) 246,562
Cash and cash equivalents including cash pledged as collateral, beginning of period 1,850,729 1,735,749
Cash and cash equivalents including cash pledged as collateral, end of period 1,393,910 1,982,311
Supplemental disclosure of cash flow information    
Interest received 3,354,991 2,296,054
Dividends received 6,180 4,186
Interest paid (excluding interest paid on interest rate swaps) 1,498,708 1,277,824
Net interest paid on interest rate swaps 358,218 (190,108)
Taxes received (paid) 603 204
Noncash investing activities    
Receivable for unsettled trades 747,082 5,322
Payable for unsettled trades 2,122,735 620,784
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment 1,703,883 3,344,868
Noncash financing activities    
Dividends declared, not yet paid $ 309,686 $ 364,066