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Mortgage-Backed Securities (Tables) | 3 Months Ended
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Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Debt Securities, Available-for-sale [Table Text Block] | The following tables present the Company’s MBS by investment type as of the dates indicated:
| March 31, 2021
| Agency RMBS |  | Agency CMBS |  | CMBS IO (1) |  | Non-Agency Other |  | Total
MBS designated as AFS: |  |  |  |  |  |  |  |  |
Par value | $ | 1,651,864 |  |  | $ | 234,091 |  |  | $ | — |  |  | $ | 1,354 |  |  | $ | 1,887,309 |
Unamortized premium (discount) | 55,118 |  |  | 2,975 |  |  | 352,655 |  |  | (370) |  |  | 410,378 |
Amortized cost | 1,706,982 |  |  | 237,066 |  |  | 352,655 |  |  | 984 |  |  | 2,297,687 |
Gross unrealized gain | 13,646 |  |  | 12,551 |  |  | 14,200 |  |  | 202 |  |  | 40,599 |
Gross unrealized loss | (24,473) |  |  | — |  |  | (979) |  |  | (43) |  |  | (25,495) |
Fair value | 1,696,155 |  |  | 249,617 |  |  | 365,876 |  |  | 1,143 |  |  | 2,312,791 |
MBS measured at fair value through net income: |  |  |  |  |  |  |  |
Par value | $ | 67,692 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 67,692 |
Unamortized premium (discount) | 850 |  |  | — |  |  | — |  |  | — |  |  | 850 |
Amortized cost | 68,542 |  |  | — |  |  | — |  |  | — |  |  | 68,542 |
Gross unrealized gain | — |  |  | — |  |  | — |  |  | — |  |  | — |
Gross unrealized loss | (960) |  |  | — |  |  | — |  |  | — |  |  | (960) |
Fair value | 67,582 |  |  | — |  |  | — |  |  | — |  |  | 67,582 |
Total as of March 31, 2021 | $ | 1,763,737 |  |  | $ | 249,617 |  |  | $ | 365,876 |  |  | $ | 1,143 |  |  | $ | 2,380,373 |
(1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $11,097,619 and $9,209,025 respectively, as of March 31, 2021.
| December 31, 2020
| Agency RMBS |  | Agency CMBS |  | CMBS IO (1) |  | Non-Agency Other |  | Total
MBS designated as AFS: |  |  |  |  |  |  |  |  |
Par value | $ | 1,839,046 |  |  | $ | 235,801 |  |  | $ | — |  |  | $ | 1,499 |  |  | $ | 2,076,346 |
Unamortized premium (discount) | 57,997 |  |  | 3,152 |  |  | 378,940 |  |  | (440) |  |  | 439,649 |
Amortized cost | 1,897,043 |  |  | 238,953 |  |  | 378,940 |  |  | 1,059 |  |  | 2,515,995 |
Gross unrealized gain | 49,348 |  |  | 19,597 |  |  | 12,081 |  |  | 267 |  |  | 81,293 |
Gross unrealized loss | — |  |  | — |  |  | (982) |  |  | (51) |  |  | (1,033) |
Fair value | 1,946,391 |  |  | 258,550 |  |  | 390,039 |  |  | 1,275 |  |  | 2,596,255 |
MBS measured at fair value through net income: |  |  |  |  |  |  |  |
Par value | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Unamortized premium (discount) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortized cost | — |  |  | — |  |  | — |  |  | — |  |  | — |
Gross unrealized gain | — |  |  | — |  |  | — |  |  | — |  |  | — |
Gross unrealized loss | — |  |  | — |  |  | — |  |  | — |  |  | — |
Fair value | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total as of December 31, 2020 | $ | 1,946,391 |  |  | $ | 258,550 |  |  | $ | 390,039 |  |  | $ | 1,275 |  |  | $ | 2,596,255 |
(1) The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $11,277,908 and $9,319,520, respectively, as of December 31, 2020.
Schedule of Realized Gain (Loss) [Table Text Block] | The following table presents information regarding the "gain on sale of investments, net" on the Company’s consolidated statements of comprehensive income (loss) for the periods indicated:
| Three Months Ended
| March 31,
| 2021 |  | 2020
| Proceeds Received |  | Realized Gain |  | Proceeds Received |  | Realized Gain
Agency RMBS-designated as AFS | $ | 74,829 |  |  | $ | 4,697 |  |  | $ | 1,817,350 |  |  | $ | 64,094 |
Agency CMBS-designated as AFS | — |  |  | — |  |  | 173,684 |  |  | 20,689 |
| $ | 74,829 |  |  | $ | 4,697 |  |  | $ | 1,991,034 |  |  | $ | 84,783 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block] | The following table presents certain information for the AFS securities in an unrealized loss position as of the dates indicated:
| March 31, 2021 |  | December 31, 2020
| Fair Value |  | Gross Unrealized Losses |  | # of Securities |  | Fair Value |  | Gross Unrealized Losses |  | # of Securities
Continuous unrealized loss position for less than 12 months: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 1,446,354 |  |  | $ | (25,019) |  |  | 32 |  | $ | 19,266 |  |  | $ | (399) |  |  | 19
Non-Agency MBS | 5,221 |  |  | (111) |  |  | 5 |  | 33,417 |  |  | (408) |  |  | 23
Continuous unrealized loss position for 12 months or longer: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 846 |  |  | $ | (224) |  |  | 5 |  | $ | 749 |  |  | $ | (133) |  |  | 2
Non-Agency MBS | 5,029 |  |  | (140) |  |  | 8 |  | 2,156 |  |  | (93) |  |  | 5

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