v3.19.3

Valuation (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018
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Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | $ 1,875,929 |  |
Investment in unconsolidated entities, at fair value | [1] | 70,435 |  |
Financial derivatives–assets, at fair value- |  | 12,740 |  | $ 20,001
Repurchase agreements, at fair value |  | 36,473 |  | 61,274
Investments sold short, at fair value- |  | (36,909) |  | (850,577)
Financial derivatives–liabilities, at fair value- |  | (25,572) |  | (20,806)
Other secured borrowings, at fair value |  | (438,629) | [1] | (297,948)
Fair Value, Measurements, Recurring |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment in unconsolidated entities, at fair value |  | 70,435 |  |
Total assets |  | 3,184,947 |  | 3,020,586
Other secured borrowings, at fair value |  | (438,629) |  |
Total liabilities |  | (501,110) |  | (1,169,331)
Fair Value, Measurements, Recurring | Investments Sold Short |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (850,577)
Fair Value, Measurements, Recurring | Investments Sold Short | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (772,964)
Fair Value, Measurements, Recurring | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | (473) |  |
Fair Value, Measurements, Recurring | Investments Sold Short | Government debt |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | (36,436) |  | (54,151)
Fair Value, Measurements, Recurring | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (6,529)
Fair Value, Measurements, Recurring | Investments Sold Short | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (16,933)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | (20,806)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (11,185) |  | (11,557)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (186) |  | (3,246)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (194) |  | (2,125)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (12,115) |  | (3,397)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (904) |  |
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (67) |  | (355)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | (120)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (921) |  | (6)
Fair Value, Measurements, Recurring | Other secured borrowings, at fair value |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Other secured borrowings, at fair value |  |  |  | (297,948)
Fair Value, Measurements, Recurring | Cash equivalents |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Cash and cash equivalents |  |  |  | 12,460
Fair Value, Measurements, Recurring | Securities | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 1,565,007 |  |
Fair Value, Measurements, Recurring | Securities | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 157,214 |  |
Fair Value, Measurements, Recurring | Securities | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 39,574 |  |
Fair Value, Measurements, Recurring | Securities | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 67,400 |  |
Fair Value, Measurements, Recurring | Securities | Asset-backed securities, backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 39,316 |  |
Fair Value, Measurements, Recurring | Securities | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 3,182 |  |
Fair Value, Measurements, Recurring | Securities | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 4,236 |  |
Fair Value, Measurements, Recurring | Investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 2,939,311
Fair Value, Measurements, Recurring | Investments | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 1,450,217
Fair Value, Measurements, Recurring | Investments | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 302,639
Fair Value, Measurements, Recurring | Investments | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 33,908
Fair Value, Measurements, Recurring | Investments | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 123,893
Fair Value, Measurements, Recurring | Investments | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 22,392
Fair Value, Measurements, Recurring | Investments | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 43,793
Fair Value, Measurements, Recurring | Investments | Secured notes |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 10,917
Fair Value, Measurements, Recurring | Investments | U.S. Treasury securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 76
Fair Value, Measurements, Recurring | Investments | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 496,830
Fair Value, Measurements, Recurring | Investments | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 211,185
Fair Value, Measurements, Recurring | Investments | Consumer loans and asset-backed securities backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 206,761
Fair Value, Measurements, Recurring | Investments | Real estate owned |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 34,500
Fair Value, Measurements, Recurring | Investments | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 2,200
Fair Value, Measurements, Recurring | Loans | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 797,728 |  |
Fair Value, Measurements, Recurring | Loans | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 260,626 |  |
Fair Value, Measurements, Recurring | Loans | Consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 151,699 |  |
Fair Value, Measurements, Recurring | Loans | Corporate loan [Member] |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 15,790 |  |
Fair Value, Measurements, Recurring | Financial Derivatives - Assets |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  |  |  | 20,001
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on asset-backed securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 1,078 |  | 1,472
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 5,060 |  | 733
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 41 |  | 2,473
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 2,146 |  | 8,092
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 3,440 |  | 7,224
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 142 |  |
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 484 |  |
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 114 |  | 6
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 235 |  | 1
Fair Value, Measurements, Recurring | Repurchase Agreements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Repurchase agreements, at fair value |  |  |  | 61,274
Fair Value, Measurements, Recurring | Level 1 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment in unconsolidated entities, at fair value |  | 0 |  |
Total assets |  | 2,442 |  | 2,200
Other secured borrowings, at fair value |  | 0 |  |
Total liabilities |  | (67) |  | (17,288)
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (16,933)
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Government debt |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (16,933)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | (355)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (67) |  | (355)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Other secured borrowings, at fair value |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Other secured borrowings, at fair value |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Cash equivalents |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Cash and cash equivalents |  |  |  | 12,460
Fair Value, Measurements, Recurring | Level 1 | Securities | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | Asset-backed securities, backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Securities | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 1,958 |  |
Fair Value, Measurements, Recurring | Level 1 | Investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 2,200
Fair Value, Measurements, Recurring | Level 1 | Investments | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Secured notes |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | U.S. Treasury securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Consumer loans and asset-backed securities backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Real estate owned |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Investments | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 2,200
Fair Value, Measurements, Recurring | Level 1 | Loans | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Loans | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Loans | Consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Loans | Corporate loan [Member] |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 484 |  |
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 1 | Repurchase Agreements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Repurchase agreements, at fair value |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment in unconsolidated entities, at fair value |  | 0 |  |
Total assets |  | 1,694,781 |  | 1,892,308
Other secured borrowings, at fair value |  | 0 |  |
Total liabilities |  | (62,200) |  | (854,095)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (833,644)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (772,964)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | (473) |  |
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Government debt |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | (36,436) |  | (54,151)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | (6,529)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | (20,451)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (11,185) |  | (11,557)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (186) |  | (3,246)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (194) |  | (2,125)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (12,115) |  | (3,397)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (904) |  |
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | (120)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (707) |  | (6)
Fair Value, Measurements, Recurring | Level 2 | Other secured borrowings, at fair value |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Other secured borrowings, at fair value |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Cash equivalents |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Cash and cash equivalents |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Securities | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 1,541,508 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 75,732 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 27,206 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 39,392 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | Asset-backed securities, backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Securities | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 1,812,505
Fair Value, Measurements, Recurring | Level 2 | Investments | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 1,442,924
Fair Value, Measurements, Recurring | Level 2 | Investments | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 211,348
Fair Value, Measurements, Recurring | Level 2 | Investments | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 33,105
Fair Value, Measurements, Recurring | Level 2 | Investments | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 108,978
Fair Value, Measurements, Recurring | Level 2 | Investments | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 16,074
Fair Value, Measurements, Recurring | Level 2 | Investments | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | Secured notes |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | U.S. Treasury securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 76
Fair Value, Measurements, Recurring | Level 2 | Investments | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | Consumer loans and asset-backed securities backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | Real estate owned |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Investments | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 2 | Loans | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Loans | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Loans | Consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Loans | Corporate loan [Member] |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  |  |  | 18,529
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 5,060 |  | 733
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 41 |  | 2,473
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 2,146 |  | 8,092
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 3,440 |  | 7,224
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 142 |  |
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 114 |  | 6
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 1
Fair Value, Measurements, Recurring | Level 2 | Repurchase Agreements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Repurchase agreements, at fair value |  |  |  | 61,274
Fair Value, Measurements, Recurring | Level 3 |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investment in unconsolidated entities, at fair value |  | 70,435 |  |
Total assets |  | 1,487,724 |  | 1,126,078
Other secured borrowings, at fair value |  | (438,629) |  |
Total liabilities |  | (438,843) |  | (297,948)
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Government debt |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments sold short, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–liabilities, at fair value- |  | (214) |  | 0
Fair Value, Measurements, Recurring | Level 3 | Other secured borrowings, at fair value |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Other secured borrowings, at fair value |  |  |  | (297,948)
Fair Value, Measurements, Recurring | Level 3 | Cash equivalents |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Cash and cash equivalents |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Securities | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 23,499 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 81,482 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 12,368 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 28,008 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | Asset-backed securities, backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 39,316 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 3,182 |  |
Fair Value, Measurements, Recurring | Level 3 | Securities | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Securities, at fair value |  | 2,278 |  |
Fair Value, Measurements, Recurring | Level 3 | Investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 1,124,606
Fair Value, Measurements, Recurring | Level 3 | Investments | Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 7,293
Fair Value, Measurements, Recurring | Level 3 | Investments | Non-Agency RMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 91,291
Fair Value, Measurements, Recurring | Level 3 | Investments | CMBS |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 803
Fair Value, Measurements, Recurring | Level 3 | Investments | CLOs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 14,915
Fair Value, Measurements, Recurring | Level 3 | Investments | Corporate debt securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 6,318
Fair Value, Measurements, Recurring | Level 3 | Investments | Corporate equity securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 43,793
Fair Value, Measurements, Recurring | Level 3 | Investments | Secured notes |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 10,917
Fair Value, Measurements, Recurring | Level 3 | Investments | U.S. Treasury securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Investments | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 496,830
Fair Value, Measurements, Recurring | Level 3 | Investments | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 211,185
Fair Value, Measurements, Recurring | Level 3 | Investments | Consumer loans and asset-backed securities backed by consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 206,761
Fair Value, Measurements, Recurring | Level 3 | Investments | Real estate owned |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 34,500
Fair Value, Measurements, Recurring | Level 3 | Investments | Common stock |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Investments, at fair value- |  |  |  | 0
Fair Value, Measurements, Recurring | Level 3 | Loans | Residential mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 797,728 |  |
Fair Value, Measurements, Recurring | Level 3 | Loans | Commercial mortgage loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 260,626 |  |
Fair Value, Measurements, Recurring | Level 3 | Loans | Consumer loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 151,699 |  |
Fair Value, Measurements, Recurring | Level 3 | Loans | Corporate loan [Member] |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Loans, at fair value |  | 15,790 |  |
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  |  |  | 1,472
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 1,078 |  | 1,472
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on corporate bonds |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Interest rate swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | TBA securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Futures |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  |
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Forwards |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | 0 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Total return swaps |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Financial derivatives–assets, at fair value- |  | $ 235 |  | 0
Fair Value, Measurements, Recurring | Level 3 | Repurchase Agreements |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Repurchase agreements, at fair value |  |  |  | $ 0
[1] | Ellington Financial Inc.'s Condensed Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

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