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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2020 | Dec. 31, 2019
Residential whole loans, carrying value | $ 2,704,646,000 | $ 4,847,782,000
Residential whole loans, fair value | 827,001,000 | 794,684,000
Servicing rights pledged as collateral | 238,999,000 | 1,217,002,000
Financial agreements held at fair value | $ 3,366,772,000 | $ 0
Preferred stock, shares outstanding (in shares) | 8,000 | 8,000
Preferred stock, liquidation preference, value | $ 275,000,000 |
Common stock, par value (usd per share) | $ 0.01 |
Common stock, shares authorized (in shares) | 874,300 | 886,950
Common stock, shares issued (in shares) | 451,714 | 452,369
Common stock, shares outstanding (in shares) | 451,714 | 452,369
Collateral Pledged | Non-Agency MBS |  |
Securities, at fair value, pledged as collateral | $ 161,000,000 | $ 3,966,591,000
Series B Preferred Stock |  |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01
Preferred stock, shares authorized (in shares) | 8,050 | 8,050
Preferred stock, dividend rate | 7.50% | 7.50%
Preferred stock, shares issued (in shares) | 8,000 | 8,000
Preferred stock, liquidation preference, value | $ 200,000,000 | $ 200,000,000
Series C Preferred Stock |  |
Preferred stock, par value (in dollars per share) | $ 0.01 |
Preferred stock, shares authorized (in shares) | 12,650 |
Preferred stock, dividend rate | 6.50% |
Preferred stock, shares issued (in shares) | 11,000 |
Preferred stock, shares outstanding (in shares) | 11,000 |

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- Definition Carrying amount as of the balance sheet date of loans that have been pledged as collateral for borrowings. If the secured party has the right by contract or custom to sell or re-pledge the collateral, then the debtor reclassifies that asset and report that asset in its statement of financial position separately from other assets not so encumbered. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5086-111524 + Details
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