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Fair Value of Financial Instruments (Fair Value Hierarchy) (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018
--- | --- | ---
Assets: |  |  |
Available-for-sale securities |  | $ 4,589,554,000 | $ 6,509,333,000
Residential whole loans, at fair value | [1] | 1,453,169,000 | 1,665,978,000
Total assets carried at fair value |  | 7,146,853,000 | 8,713,810,000
Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 1,813,873,000 | 2,698,213,000
Non-Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 2,397,789,000 | 3,318,299,000
CRT securities |  |  |
Assets: |  |  |
Available-for-sale securities |  | 377,892,000 | 492,821,000
Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 1,453,169,000 | 1,665,978,000
Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 1,104,130,000 | 538,499,000
Level 1 |  |  |
Assets: |  |  |
Total assets carried at fair value |  | 0 | 0
Level 1 | Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 1 | Non-Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 1 | CRT securities |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 1 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 0 | 0
Level 1 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 0 | 0
Level 2 |  |  |
Components of financial instruments carried at fair value |  |  |
Credit valuation adjustment to derivative liabilities |  | 0 |
Credit valuation adjustment to derivative assets |  | 0 |
Assets: |  |  |
Total assets carried at fair value |  | 5,693,684,000 | 6,509,333,000
Level 2 | Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 1,813,873,000 | 2,698,213,000
Level 2 | Non-Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 2,397,789,000 | 3,318,299,000
Level 2 | CRT securities |  |  |
Assets: |  |  |
Available-for-sale securities |  | 377,892,000 | 492,821,000
Level 2 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 0 | 0
Level 2 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 1,104,130,000 | 0
Level 3 |  |  |
Assets: |  |  |
Total assets carried at fair value |  | 1,453,169,000 | 2,204,477,000
Level 3 | Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 3 | Non-Agency MBS |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 3 | CRT securities |  |  |
Assets: |  |  |
Available-for-sale securities |  | 0 | 0
Level 3 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 1,453,169,000 | 1,665,978,000
Level 3 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | $ 0 | $ 538,499,000
[1] | Includes approximately $189.9 million and $209.4 million of Residential whole loans, at carrying value and $593.3 million and $694.7 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at September 30, 2019 and December 31, 2018, respectively. Such assets can be used only to settle the obligations of each respective VIE.

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- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 + Details
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- Definition Fair value at acquisition of acquired loans not accounted for as debt securities with evidence of deterioration of credit quality. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 15 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118938799&loc=d3e13503-111538 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=118939070&loc=d3e15032-111544 + Details
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- Definition The fair value as of the balance sheet date of firm holdings in mortgages, mortgage backed securities (investment instruments that represent ownership of an undivided interest in a group of mortgages, where principal and interest from the individual mortgages are used to pay investors' principal and interest on the mortgage backed security) and asset-backed securities that are primarily paid from the cash flows of a discrete pool of receivables or other financial assets (such as credit-card receivables), either fixed or revolving, that by their terms convert into cash within a finite time period. Includes both pledged (to counterparties as collateral for financing transactions) and unpledged holdings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969 + Details
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