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Fair Value of Financial Instruments (Carrying Value vs Fair Value) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Financial Assets: |  |  |
Securities, at fair value | [1] | $ 283,037 | $ 399,999
Restricted cash |  | 55,507 | 7,165
Carrying Value |  |  |
Financial Assets: |  |  |
Securities, at fair value |  | 283,037 | 399,999
Cash and cash equivalents |  | 526,241 | 814,354
Restricted cash |  | 55,507 | 7,165
Financial Liabilities: |  |  |
Securitized debt |  | 2,045,729 | 1,514,509
Convertible senior notes |  | 226,138 | 225,177
Senior notes |  | 0 | 100,000
Estimated Fair Value |  |  |
Financial Assets: |  |  |
Securities, at fair value |  | 283,037 | 399,999
Cash and cash equivalents |  | 526,241 | 814,354
Restricted cash |  | 55,507 | 7,165
Financial Liabilities: |  |  |
Securitized debt |  | 2,053,714 | 1,519,567
Convertible senior notes |  | 234,328 | 228,287
Senior notes |  | 0 | 100,031
Residential whole loans | Carrying Value |  |  |
Financial Assets: |  |  |
Residential whole loans, carrying value |  | 7,081,462 | 5,325,401
Residential whole loans | Estimated Fair Value |  |  |
Financial Assets: |  |  |
Residential whole loans, carrying value |  | 7,280,297 | 5,499,303
Financing agreements with non-mark-to-market collateral provisions | Carrying Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | 847,949 | 1,159,213
Financing agreements with non-mark-to-market collateral provisions | Estimated Fair Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | 848,367 | 1,159,213
Agreements with mark-to-market collateral provisions | Carrying Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | 2,259,188 | 1,124,162
Agreements with mark-to-market collateral provisions | Estimated Fair Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | 2,259,332 | 1,124,162
Financing agreements with mark-to-market collateral provisions | Carrying Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | 171,804 | 213,915
Financing agreements with mark-to-market collateral provisions | Estimated Fair Value |  |  |
Financial Liabilities: |  |  |
Financing agreements with mark-to-market collateral provisions |  | $ 171,804 | $ 213,915
[1] | See Note 6 for information regarding the Company’s pledged assets.

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