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Fair Value of Financial Instruments (Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019
--- | --- | ---
Assets: |  |  |
Residential whole loans, at fair value | [1] | $ 1,229,664 | $ 1,381,583
Fair Value |  | 152,765 | 3,983,519
Total assets carried at fair value |  | 1,616,520 | 6,522,565
Liabilities: |  |  |
Securitized debt |  | 388,790 |
Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 1,229,664 | 1,381,583
Liabilities: |  |  |
Total liabilities carried at fair value |  | 4,080,461 |
Non-Agency MBS |  |  |
Assets: |  |  |
Fair Value |  | 56,430 | 2,063,529
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |  |  |
Assets: |  |  |
Fair Value |  |  | 1,664,582
CRT securities |  |  |
Assets: |  |  |
Fair Value |  | 96,335 | 255,408
Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 234,091 | 1,157,463
Financing agreements with non-mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 1,727,407 |
Financing agreements with mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 1,490,271 |
Senior secured credit agreement |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 473,993 |
Level 1 |  |  |
Assets: |  |  |
Total assets carried at fair value |  | 0 | 0
Liabilities: |  |  |
Securitized debt |  | 0 |
Level 1 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 0 | 0
Liabilities: |  |  |
Total liabilities carried at fair value |  | 0 |
Level 1 | Non-Agency MBS |  |  |
Assets: |  |  |
Fair Value |  | 0 | 0
Level 1 | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |  |  |
Assets: |  |  |
Fair Value |  |  | 0
Level 1 | CRT securities |  |  |
Assets: |  |  |
Fair Value |  | 0 | 0
Level 1 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 0 | 0
Level 1 | Financing agreements with non-mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 0 |
Level 1 | Financing agreements with mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 0 |
Level 1 | Senior secured credit agreement |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 0 |
Level 2 |  |  |
Assets: |  |  |
Total assets carried at fair value |  | 386,856 | 5,140,982
Liabilities: |  |  |
Securitized debt |  | 388,790 |
Level 2 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 0 | 0
Liabilities: |  |  |
Total liabilities carried at fair value |  | 1,121,320 |
Level 2 | Non-Agency MBS |  |  |
Assets: |  |  |
Fair Value |  | 56,430 | 2,063,529
Level 2 | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |  |  |
Assets: |  |  |
Fair Value |  |  | 1,664,582
Level 2 | CRT securities |  |  |
Assets: |  |  |
Fair Value |  | 96,335 | 255,408
Level 2 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 234,091 | 1,157,463
Level 2 | Financing agreements with non-mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 0 |
Level 2 | Financing agreements with mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 258,537 |
Level 2 | Senior secured credit agreement |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 473,993 |
Level 3 |  |  |
Assets: |  |  |
Total assets carried at fair value |  | 1,229,664 | 1,381,583
Liabilities: |  |  |
Securitized debt |  | 0 |
Level 3 | Residential whole loans, at fair value |  |  |
Assets: |  |  |
Residential whole loans, at fair value |  | 1,229,664 | 1,381,583
Liabilities: |  |  |
Total liabilities carried at fair value |  | 2,959,141 |
Level 3 | Non-Agency MBS |  |  |
Assets: |  |  |
Fair Value |  | 0 | 0
Level 3 | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |  |  |
Assets: |  |  |
Fair Value |  |  | 0
Level 3 | CRT securities |  |  |
Assets: |  |  |
Fair Value |  | 0 | 0
Level 3 | Term notes backed by MSR-related collateral |  |  |
Assets: |  |  |
Term notes backed by MSR related collateral |  | 0 | $ 0
Level 3 | Financing agreements with non-mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 1,727,407 |
Level 3 | Financing agreements with mark-to-market collateral provisions |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | 1,231,734 |
Level 3 | Senior secured credit agreement |  |  |
Liabilities: |  |  |
Liabilities carried at fair value |  | $ 0 |
[1] | Includes approximately $568.6 million and $186.4 million of Residential whole loans, at carrying value and $521.2 million and $567.4 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at September 30, 2020 and December 31, 2019, respectively. Such assets can be used only to settle the obligations of each respective VIE.

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