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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2021 | Dec. 31, 2020
Residential whole loans, carrying value | $ 2,366,285,000 | $ 2,704,646,000
Residential whole loans, fair value | 889,100,000 | 827,001,000
Financial agreements held at fair value | $ 2,974,578,000 | $ 3,366,772,000
Common stock, par value (usd per share) | $ 0.01 | $ 0.01
Common stock, shares authorized (in shares) | 874,300 | 874,300
Common stock, shares issued (in shares) | 446,114 | 451,714
Common stock, shares outstanding (in shares) | 446,114 | 451,714
Collateral Pledged | Non-Agency MBS |  |
Securities, at fair value, pledged as collateral | $ 350,115,000 | $ 399,999,000
Series B Preferred Stock |  |
Preferred stock par value (usd per share) | $ 0.01 | $ 0.01
Preferred Stock, dividend rate | 7.50% | 7.50%
Preferred stock, shares authorized (in shares) | 8,050 | 8,050
Preferred stock, shares issued (in shares) | 8,000 | 8,000
Preferred stock, shares outstanding (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 (usd per share) | $ 0.01 | $ 0.01
Preferred Stock, dividend rate | 6.50% | 6.50%
Preferred stock, shares authorized (in shares) | 12,650 | 12,650
Preferred stock, shares issued (in shares) | 11,000 | 11,000
Preferred stock, shares outstanding (in shares) | 11,000 | 11,000
Preferred stock, liquidation preference, value | $ 275,000,000 | $ 275,000,000

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- Definition The fair value as of the balance sheet date of financial instruments and other positions owned by the entity and pledged to counterparties as collateral, including: (1) mortgages, mortgage-backed and asset backed securities; (2) US government and agency obligations; (3) state and municipal government obligations; (4) other sovereign government debt; (5) corporate obligations; (6) corporate equities; (7) principal investments; (8) derivative contracts; and (9) physical commodities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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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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