v3.19.1
Valuation (Significant Unobservable Inputs Rollforward) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Transfers into Level 3 $ 15,700 $ 11,600
Assets, Transfers out of Level 3 (4,600) (5,600)
Other secured borrowings, at fair value    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gains (losses), liabilities 57  
Securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets 700  
Loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets 3,400  
Investment in unconsolidated entities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets (2,100)  
Financial Derivatives - Assets    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Change in unrealized gain (loss), assets (200)  
Level 3    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 1,094,815 661,588
Assets, Accreted Discounts/Amortized Premiums (10,641) (6,329)
Assets, Realized Gain (Loss) (1,647) 4,342
Assets, Change In Net Unrealized Gain/(Loss) 3,447 9,128
Assets, Purchases 303,325 174,297
Assets, Sales (167,106) (90,246)
Assets, Transfers into Level 3 15,690 11,561
Assets, Transfers out of Level 3 (4,564) (5,618)
Assets, Ending Balance 1,233,319 758,723
Liabilities, Begining Balance (297,948) (125,105)
Liabilities, Accreted Discounts/Amortized Premiums 0 0
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) 57 784
Liabilities Purchases/Payments 15,767 10,546
Liabilities, Sales/Issuance 0 0
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (282,124) (113,775)
Level 3 | Other secured borrowings, at fair value    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Liabilities, Begining Balance (297,948) (125,105)
Liabilities, Accreted Discounts/Amortized Premiums 0 0
Liabilities, Realized Gain/(Loss) 0 0
Liabilities, Change In Net Unrealized Gain/(Loss) 57 784
Liabilities, Payments 15,767 10,546
Liabilities, Issuances 0 0
Liabilities, Transfers into Level 3 0 0
Liabilities, Transfers out of Level 3 0 0
Liabilities, Ending Balance (282,124) (113,775)
Change in unrealized gains (losses), liabilities   800
Level 3 | Securities | Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 7,293  
Assets, Accreted Discounts/Amortized Premiums (774)  
Assets, Realized Gain (Loss) (594)  
Assets, Change In Net Unrealized Gain/(Loss) 189  
Assets, Purchases 6  
Assets, Sales 0  
Assets, Transfers into Level 3 842  
Assets, Transfers out of Level 3 (573)  
Assets, Ending Balance 6,389  
Level 3 | Securities | Non-Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 91,291  
Assets, Accreted Discounts/Amortized Premiums 63  
Assets, Realized Gain (Loss) (101)  
Assets, Change In Net Unrealized Gain/(Loss) (535)  
Assets, Purchases 15,546  
Assets, Sales (19,436)  
Assets, Transfers into Level 3 10,492  
Assets, Transfers out of Level 3 (2,650)  
Assets, Ending Balance 94,670  
Level 3 | Securities | CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 803  
Assets, Accreted Discounts/Amortized Premiums (14)  
Assets, Realized Gain (Loss) 0  
Assets, Change In Net Unrealized Gain/(Loss) (8)  
Assets, Purchases 0  
Assets, Sales 0  
Assets, Transfers into Level 3 4,356  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 5,137  
Level 3 | Securities | CLOs    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 14,915  
Assets, Accreted Discounts/Amortized Premiums (406)  
Assets, Realized Gain (Loss) (83)  
Assets, Change In Net Unrealized Gain/(Loss) 49  
Assets, Purchases 8,304  
Assets, Sales 0  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 (1,341)  
Assets, Ending Balance 21,438  
Level 3 | Securities | Asset-backed securities, backed by consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 22,800  
Assets, Accreted Discounts/Amortized Premiums (609)  
Assets, Realized Gain (Loss) (512)  
Assets, Change In Net Unrealized Gain/(Loss) 762  
Assets, Purchases 4,940  
Assets, Sales (3,273)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 24,108  
Level 3 | Securities | Corporate debt securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 6,318  
Assets, Accreted Discounts/Amortized Premiums 16  
Assets, Realized Gain (Loss) (1)  
Assets, Change In Net Unrealized Gain/(Loss) (77)  
Assets, Purchases 384  
Assets, Sales (903)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 5,737  
Level 3 | Securities | Corporate equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 1,530  
Assets, Accreted Discounts/Amortized Premiums 0  
Assets, Realized Gain (Loss) 0  
Assets, Change In Net Unrealized Gain/(Loss) (65)  
Assets, Purchases 0  
Assets, Sales 0  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 1,465  
Level 3 | Investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   658,448
Assets, Accreted Discounts/Amortized Premiums   (6,329)
Assets, Realized Gain (Loss)   4,256
Assets, Change In Net Unrealized Gain/(Loss)   9,199
Assets, Purchases   174,273
Assets, Sales   (90,136)
Assets, Transfers into Level 3   11,561
Assets, Transfers out of Level 3   (5,618)
Assets, Ending Balance   755,654
Change in unrealized gain (loss), assets   8,600
Level 3 | Investments | Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   6,173
Assets, Accreted Discounts/Amortized Premiums   (600)
Assets, Realized Gain (Loss)   39
Assets, Change In Net Unrealized Gain/(Loss)   264
Assets, Purchases   1,101
Assets, Sales   (388)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   (461)
Assets, Ending Balance   6,128
Level 3 | Investments | Non-Agency RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   101,297
Assets, Accreted Discounts/Amortized Premiums   106
Assets, Realized Gain (Loss)   2,288
Assets, Change In Net Unrealized Gain/(Loss)   293
Assets, Purchases   20,660
Assets, Sales   (21,574)
Assets, Transfers into Level 3   11,561
Assets, Transfers out of Level 3   (2,769)
Assets, Ending Balance   111,862
Level 3 | Investments | CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   12,347
Assets, Accreted Discounts/Amortized Premiums   (183)
Assets, Realized Gain (Loss)   1,554
Assets, Change In Net Unrealized Gain/(Loss)   121
Assets, Purchases   9,624
Assets, Sales   (7,366)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   (2,388)
Assets, Ending Balance   13,709
Level 3 | Investments | CLOs    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   24,911
Assets, Accreted Discounts/Amortized Premiums   455
Assets, Realized Gain (Loss)   2
Assets, Change In Net Unrealized Gain/(Loss)   226
Assets, Purchases   10,095
Assets, Sales   (8,210)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   27,479
Level 3 | Investments | Corporate debt securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   23,947
Assets, Accreted Discounts/Amortized Premiums   (114)
Assets, Realized Gain (Loss)   52
Assets, Change In Net Unrealized Gain/(Loss)   364
Assets, Purchases   456
Assets, Sales   (6,705)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   18,000
Level 3 | Investments | Corporate equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   37,465
Assets, Accreted Discounts/Amortized Premiums   0
Assets, Realized Gain (Loss)   0
Assets, Change In Net Unrealized Gain/(Loss)   4,326
Assets, Purchases   9,078
Assets, Sales   0
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   50,869
Level 3 | Investments | Residential mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   182,472
Assets, Accreted Discounts/Amortized Premiums   (715)
Assets, Realized Gain (Loss)   (54)
Assets, Change In Net Unrealized Gain/(Loss)   (653)
Assets, Purchases   73,040
Assets, Sales   (13,309)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   240,781
Level 3 | Investments | Commercial mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   108,301
Assets, Accreted Discounts/Amortized Premiums   618
Assets, Realized Gain (Loss)   330
Assets, Change In Net Unrealized Gain/(Loss)   (161)
Assets, Purchases   3,988
Assets, Sales   (3,782)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   109,294
Level 3 | Investments | Consumer loans and asset-backed securities backed by consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   135,258
Assets, Accreted Discounts/Amortized Premiums   (5,896)
Assets, Realized Gain (Loss)   501
Assets, Change In Net Unrealized Gain/(Loss)   3,804
Assets, Purchases   42,133
Assets, Sales   (27,378)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   148,422
Level 3 | Investments | Real estate owned    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   26,277
Assets, Accreted Discounts/Amortized Premiums   0
Assets, Realized Gain (Loss)   (456)
Assets, Change In Net Unrealized Gain/(Loss)   615
Assets, Purchases   4,098
Assets, Sales   (1,424)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   29,110
Level 3 | Loans | Residential mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 496,829  
Assets, Accreted Discounts/Amortized Premiums (927)  
Assets, Realized Gain (Loss) (136)  
Assets, Change In Net Unrealized Gain/(Loss) 1,901  
Assets, Purchases 157,602  
Assets, Sales (72,017)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 583,252  
Level 3 | Loans | Commercial mortgage loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 195,301  
Assets, Accreted Discounts/Amortized Premiums 306  
Assets, Realized Gain (Loss) 0  
Assets, Change In Net Unrealized Gain/(Loss) (333)  
Assets, Purchases 48,857  
Assets, Sales (4,508)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 239,623  
Level 3 | Loans | Consumer loans    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 183,961  
Assets, Accreted Discounts/Amortized Premiums (8,572)  
Assets, Realized Gain (Loss) (2,055)  
Assets, Change In Net Unrealized Gain/(Loss) 1,842  
Assets, Purchases 54,256  
Assets, Sales (37,317)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 192,115  
Level 3 | Investment in unconsolidated entities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 72,302  
Assets, Accreted Discounts/Amortized Premiums 276  
Assets, Realized Gain (Loss) 1,560  
Assets, Change In Net Unrealized Gain/(Loss) (39)  
Assets, Purchases 13,428  
Assets, Sales (29,375)  
Assets, Transfers into Level 3 0  
Assets, Transfers out of Level 3 0  
Assets, Ending Balance 58,152  
Level 3 | Financial Derivatives - Assets    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance   3,140
Assets, Accreted Discounts/Amortized Premiums   0
Assets, Realized Gain (Loss)   86
Assets, Change In Net Unrealized Gain/(Loss)   (71)
Assets, Purchases   24
Assets, Sales   (110)
Assets, Transfers into Level 3   0
Assets, Transfers out of Level 3   0
Assets, Ending Balance   3,069
Change in unrealized gain (loss), assets   (100)
Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Assets, Beginning Balance 1,472 3,140
Assets, Accreted Discounts/Amortized Premiums 0 0
Assets, Realized Gain (Loss) 275 86
Assets, Change In Net Unrealized Gain/(Loss) (239) (71)
Assets, Purchases 2 24
Assets, Sales (277) (110)
Assets, Transfers into Level 3 0 0
Assets, Transfers out of Level 3 0 0
Assets, Ending Balance $ 1,233 $ 3,069