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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Segment Reporting Information [Line Items]              
Interest Income $ 109,321   $ 84,528   $ 215,670 $ 165,579  
Interest Expense 56,742   25,555   100,038 55,625  
Net Interest Income 52,579   58,973   115,632 109,954  
Provision for Credit Losses on Residential Whole Loans (1,817)   8,867   1,694 31,617  
Provision for Credit Losses on Other Assets (28,579)   0   (28,579) 0  
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 22,183   67,840   88,747 141,571  
Net mark-to-market and other net loss on residential whole loans measured at fair value (216,414)   6,021   (504,789) 37,510  
Net gain on derivatives used for risk management purposes 47,804   (1,057)   141,905 (1,057)  
Net mark-to-market on Securitized debt measured at fair value 84,573   (232)   148,690 (1,243)  
Net gain on real estate owned 7,185   4,456   15,917 6,896  
Lima One - origination, servicing and other fee income 10,673   0   25,167 0  
Other (loss)/income, net (10,269)   12,459   (10,854) 13,860  
Other (Loss)/Income, net (76,448)   21,647   (183,964) 55,966  
General and administrative expenses (including compensation) 29,567       57,820    
Loan servicing, financing and other related costs 13,235   6,000   23,636 13,299  
Amortization of intangible assets 3,300   0   6,600 0  
Net (Loss)/Income (100,367) $ (82,906) 66,714 $ 85,522 (183,273) 152,236  
Less Preferred Stock Dividend Requirement 8,219   8,219   16,438 16,438  
Net (Loss)/Income Available to Common Stock and Participating Securities (108,586)   $ 58,495   (199,711) $ 135,798  
Total Assets 9,479,626       9,479,626   $ 9,139,688
Mortgage-Related Assets              
Segment Reporting Information [Line Items]              
Interest Income 84,732       173,554    
Interest Expense 39,889       72,898    
Net Interest Income 44,843       100,656    
Provision for Credit Losses on Residential Whole Loans (1,785)       1,731    
Provision for Credit Losses on Other Assets 0       0    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 43,058       102,387    
Net mark-to-market and other net loss on residential whole loans measured at fair value (175,281)       (428,691)    
Net gain on derivatives used for risk management purposes 44,161       130,396    
Net mark-to-market on Securitized debt measured at fair value 64,966       122,545    
Net gain on real estate owned 7,150       15,885    
Lima One - origination, servicing and other fee income 0       0    
Other (loss)/income, net (787)       (2,106)    
Other (Loss)/Income, net (59,791)       (161,971)    
General and administrative expenses (including compensation) 0       0    
Loan servicing, financing and other related costs 6,513       13,445    
Amortization of intangible assets 0       0    
Net (Loss)/Income (23,246)       (73,029)    
Less Preferred Stock Dividend Requirement 0       0    
Net (Loss)/Income Available to Common Stock and Participating Securities (23,246)       (73,029)    
Total Assets 6,976,030       6,976,030   7,482,171
Lima One              
Segment Reporting Information [Line Items]              
Interest Income 24,353       41,853    
Interest Expense 12,916       19,272    
Net Interest Income 11,437       22,581    
Provision for Credit Losses on Residential Whole Loans (32)       (37)    
Provision for Credit Losses on Other Assets 0       0    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses 11,405       22,544    
Net mark-to-market and other net loss on residential whole loans measured at fair value (41,133)       (76,098)    
Net gain on derivatives used for risk management purposes 3,643       11,509    
Net mark-to-market on Securitized debt measured at fair value 19,607       26,145    
Net gain on real estate owned 35       32    
Lima One - origination, servicing and other fee income 10,673       25,167    
Other (loss)/income, net 129       340    
Other (Loss)/Income, net (7,046)       (12,905)    
General and administrative expenses (including compensation) 13,013       25,232    
Loan servicing, financing and other related costs 323       559    
Amortization of intangible assets 0       0    
Net (Loss)/Income (8,977)       (16,152)    
Less Preferred Stock Dividend Requirement 0       0    
Net (Loss)/Income Available to Common Stock and Participating Securities (8,977)       (16,152)    
Total Assets 1,950,538       1,950,538   1,203,174
Corporate              
Segment Reporting Information [Line Items]              
Interest Income 236       263    
Interest Expense 3,937       7,868    
Net Interest Income (3,701)       (7,605)    
Provision for Credit Losses on Residential Whole Loans 0       0    
Provision for Credit Losses on Other Assets (28,579)       (28,579)    
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses (32,280)       (36,184)    
Net mark-to-market and other net loss on residential whole loans measured at fair value 0       0    
Net gain on derivatives used for risk management purposes 0       0    
Net mark-to-market on Securitized debt measured at fair value 0       0    
Net gain on real estate owned 0       0    
Lima One - origination, servicing and other fee income 0       0    
Other (loss)/income, net (9,611)       (9,088)    
Other (Loss)/Income, net (9,611)       (9,088)    
General and administrative expenses (including compensation) 16,554       32,588    
Loan servicing, financing and other related costs 6,399       9,632    
Amortization of intangible assets 3,300       6,600    
Net (Loss)/Income (68,144)       (94,092)    
Less Preferred Stock Dividend Requirement 8,219       16,438    
Net (Loss)/Income Available to Common Stock and Participating Securities (76,363)       (110,530)    
Total Assets $ 553,058       $ 553,058   $ 454,343