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Summary of Quarterly Results of Operations (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]                      
Interest income $ 60,476 $ 66,080 $ 87,368 $ 145,460 $ 153,118 $ 142,721 $ 144,935 $ 140,952 $ 359,384 $ 581,726 $ 455,675
Interest expense (41,044) (55,964) (87,991) (83,759) (82,463) (85,823) (85,044) (79,026) (268,758) (332,356) (232,186)
Net Interest Income 19,432 10,116 (623) 61,701 70,655 56,898 59,891 61,926 90,626 249,370 223,489
Reversal (Provision) for Credit and Valuation Losses on Residential Whole Loans and Other Financial Instruments 15,709 27,244 85,377 (150,711) (1,032) (347) (385) (805) (22,381) (2,569) (773)
Net Interest Income after Provision for Credit and Valuation Losses 35,141 37,360 84,754 (89,010) 69,623 56,551 59,506 61,121 68,245 246,801 222,716
Net gain on residential whole loans measured at fair value through earnings 49,782 76,871 20,320 (52,760) 41,415 40,175 51,473 25,267 94,213 158,330 137,619
Net realized gain on sales of residential mortgage securities and residential whole loans 0 48 49,485 (238,380) 11,975 17,708 7,710 24,609      
Other income (18,708) 292 6,552 (499,623) 2,007 4,546 (2,321) 1,293      
Operating and other expense (20,398) (27,361) (64,533) (29,222) (24,399) (23,381) (23,328) (23,433) (141,514) (94,541) (78,890)
Net Income/(Loss) 45,817 87,210 96,578 (908,995) 100,621 95,599 93,040 88,857 (679,390) 378,117 301,801
Preferred stock dividends (8,218) (8,219) (8,144) (5,215) (3,750) (3,750) (3,750) (3,750) (29,796) (15,000) (15,000)
Net income available to common stock and participating securities $ 37,599 $ 78,991 $ 88,434 $ (914,210) $ 96,871 $ 91,849 $ 89,290 $ 85,107 $ (709,415) $ 362,030 $ 285,858
Earnings per Common Share - Basic (usd per share) $ 0.08 $ 0.17 $ 0.19 $ (2.02)         $ (1.57) $ 0.80 $ 0.68
Earnings per Common Share - Diluted (usd per share) $ 0.08 $ 0.17 $ 0.19 $ (2.02)         $ (1.57) $ 0.79 $ 0.68
Earnings per Common Share - Basic and Diluted (usd per share)         $ 0.21 $ 0.20 $ 0.20 $ 0.19