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Mortgage-Backed Securities (Tables) | 9 Months Ended
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Sep. 30, 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:
| September 30, 2021
| Agency RMBS |  | Agency CMBS |  | CMBS IO (1) |  | Non-Agency Other |  | Total
MBS designated as AFS: |  |  |  |  |  |  |  |  |
Par value | $ | 1,271,603 |  |  | $ | 185,603 |  |  | $ | — |  |  | $ | 1,087 |  |  | $ | 1,458,293 |
Unamortized premium (discount) | 41,604 |  |  | 2,608 |  |  | 300,061 |  |  | (246) |  |  | 344,027 |
Amortized cost | 1,313,207 |  |  | 188,211 |  |  | 300,061 |  |  | 841 |  |  | 1,802,320 |
Gross unrealized gain | 10,056 |  |  | 10,230 |  |  | 13,924 |  |  | 107 |  |  | 34,317 |
Gross unrealized loss | (13,348) |  |  | (7) |  |  | (684) |  |  | (42) |  |  | (14,081) |
Fair value | 1,309,915 |  |  | 198,434 |  |  | 313,301 |  |  | 906 |  |  | 1,822,556 |
MBS measured at fair value through net income: |  |  |  |  |  |  |  |
Par value | $ | 1,000,854 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,000,854 |
Unamortized premium | 33,533 |  |  | — |  |  | 4,313 |  |  | — |  |  | 37,846 |
Amortized cost | 1,034,387 |  |  | — |  |  | 4,313 |  |  | — |  |  | 1,038,700 |
Gross unrealized gain | 52 |  |  | — |  |  | 17 |  |  | — |  |  | 69 |
Gross unrealized loss | (3,132) |  |  | — |  |  | (27) |  |  | — |  |  | (3,159) |
Fair value | 1,031,307 |  |  | — |  |  | 4,303 |  |  | — |  |  | 1,035,610 |
Total as of September 30, 2021 | $ | 2,341,222 |  |  | $ | 198,434 |  |  | $ | 317,604 |  |  | $ | 906 |  |  | $ | 2,858,166 |
(1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $10,508,786 and $8,865,021 respectively, as of September 30, 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 |  |  | 378,939 |  |  | (440) |  |  | 439,648 |
Amortized cost | 1,897,043 |  |  | 238,953 |  |  | 378,939 |  |  | 1,059 |  |  | 2,515,994 |
Gross unrealized gain | 49,348 |  |  | 19,597 |  |  | 12,081 |  |  | 267 |  |  | 81,293 |
Gross unrealized loss | — |  |  | — |  |  | (981) |  |  | (51) |  |  | (1,032) |
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 | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 "realized gain on sale of investments, net" on the Company’s consolidated statements of comprehensive income (loss) for the periods indicated:
| Three Months Ended
| September 30,
| 2021 |  | 2020
| Proceeds Received |  | Realized Gain (Loss) |  | Proceeds Received |  | Realized Gain
Agency RMBS-designated as AFS (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Agency CMBS-designated as AFS | — |  |  | — |  |  | 403,095 |  |  | 20,845 |
| $ | — |  |  | $ | — |  |  | $ | 403,095 |  |  | $ | 20,846 |
| Nine Months Ended
| September 30,
| 2021 |  | 2020
| Proceeds Received |  | Realized Gain |  | Proceeds Received |  | Realized Gain
Agency RMBS-designated as AFS | $ | 287,409 |  |  | $ | 3,938 |  |  | $ | 2,187,956 |  |  | $ | 75,824 |
Agency CMBS-designated as AFS | 37,873 |  |  | 2,767 |  |  | 2,215,098 |  |  | 222,904 |
| $ | 325,282 |  |  | $ | 6,705 |  |  | $ | 4,403,054 |  |  | $ | 298,728 |
(1) Additional realized gain for Agency RMBS during the three months ended September 30, 2020 relates to change in effective rate due to paydown that occurred between trade date of sale in second quarter of 2020 and settlement date in third quarter.
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:
| September 30, 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 | $ | 1,121,823 |  |  | $ | (13,738) |  |  | 23 |  | $ | 19,266 |  |  | $ | (399) |  |  | 19
Non-Agency MBS | 10,153 |  |  | (159) |  |  | 12 |  | 33,417 |  |  | (408) |  |  | 23
Continuous unrealized loss position for 12 months or longer: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 24 |  |  | $ | (26) |  |  | 1 |  | $ | 749 |  |  | $ | (133) |  |  | 2
Non-Agency MBS | 2,771 |  |  | (159) |  |  | 7 |  | 2,156 |  |  | (93) |  |  | 5

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