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Fair Value of Financial Instruments Level 3 (Details) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2020 USD ($) percent | Jan. 01, 2020 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Cumulative Effect of New Accounting Principle in Period of Adoption |  |  | $ (548)
Measurement Input, Prepayment Rate |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Debt Securities, Available-for-sale, Measurement Input | percent |  | 0.10 |
Loans Held-for-sale, Measurement Input | percent |  | 0.10 |
Measurement Input, Default Rate |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Debt Securities, Available-for-sale, Measurement Input | percent |  | 0.02 |
Loans Held-for-sale, Measurement Input | percent |  | 0.02 |
Measurement Input, Loss Severity |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Debt Securities, Available-for-sale, Measurement Input | percent |  | 0.20 |
Loans Held-for-sale, Measurement Input | percent |  | 0.20 |
Measurement Input, Discount Rate |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Debt Securities, Available-for-sale, Measurement Input | percent |  | 0.070 |
Loans Held-for-sale, Measurement Input | percent |  | 0.070 |
Non-Agency MBS |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Balance at the beginning of the period |  | $ 1,690 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | [1] | (316) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements |  | (439) |
Balance at the end of the period |  | 1,275 |
Loans Receivable |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Balance at the beginning of the period |  | 9,405 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | [1] | 253 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements |  | (2,854) |
Balance at the end of the period |  | 6,264 |
Interest Income | Non-Agency MBS |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Accretion (amortization) |  | 340 |
Interest Income | Loans Receivable |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |
Accretion (amortization) |  | $ (34) |
[1] | Change in fair value for other non-Agency MBS is recorded as unrealized gain (loss) in “other comprehensive income”. Change in fair value for mortgage loans is recorded as unrealized gain (loss) in “gain(loss) on investments, net“ and the amount shown for the year ended December 31, 2020 is net of a cumulative adjustment of $(548) made to the amortized cost as of December 31, 2019 as a result of the Company’s election of the fair value option for its mortgage loans effective January 1, 2020.

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