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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Interest Income $ 132,205 $ 106,349  
Interest Expense 92,836 43,296  
Net Interest Income 39,369 63,053  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 13 3,511  
Net Interest Income after Reversal of Provision for Credit Losses 39,382 66,564  
Net gain on residential whole loans measured at fair value through earnings 129,174 (287,935)  
Impairment and other net gain/(loss) on securities and other portfolio investments 2,931 (3,701)  
Net gain on real estate owned 3,942 8,732  
Net (loss)/gain on derivatives used for risk management purposes (21,208) 94,101  
Net loss on securitized debt measured at fair value through earnings (51,725) 64,117  
Lima One - origination, servicing and other fee income 8,976 14,494  
Other, net 3,172 2,676  
Other Income/(Loss), net 75,262 (107,516)  
General and administrative expenses (including compensation) 31,021 28,253  
Loan servicing, financing, and other related costs 9,539 10,401  
Amortization of intangible assets 1,300 3,300  
Net Income/(Loss) 72,784 (82,906)  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities 64,565 (91,125)  
Total Assets 9,311,607   $ 9,112,405
Mortgage-Related Assets      
Segment Reporting Information [Line Items]      
Interest Income 84,819 88,822  
Interest Expense 57,077 33,009  
Net Interest Income 27,742 55,813  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans (300) 3,516  
Net Interest Income after Reversal of Provision for Credit Losses 27,442 59,329  
Net gain on residential whole loans measured at fair value through earnings 95,509 (253,127)  
Impairment and other net gain/(loss) on securities and other portfolio investments 2,931 (2,921)  
Net gain on real estate owned 3,925 8,735  
Net (loss)/gain on derivatives used for risk management purposes (16,322) 86,235  
Net loss on securitized debt measured at fair value through earnings (34,820) 57,579  
Lima One - origination, servicing and other fee income 0 0  
Other, net 2,207 1,318  
Other Income/(Loss), net 53,430 (102,181)  
General and administrative expenses (including compensation) 0 0  
Loan servicing, financing, and other related costs 4,719 6,932  
Amortization of intangible assets 0 0  
Net Income/(Loss) 76,153 (49,784)  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 76,153 (49,784)  
Total Assets 6,061,481   6,065,557
Lima One      
Segment Reporting Information [Line Items]      
Interest Income 44,521 17,500  
Interest Expense 31,804 6,356  
Net Interest Income 12,717 11,144  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 313 (5)  
Net Interest Income after Reversal of Provision for Credit Losses 13,030 11,139  
Net gain on residential whole loans measured at fair value through earnings 33,665 (34,808)  
Impairment and other net gain/(loss) on securities and other portfolio investments 0 0  
Net gain on real estate owned 17 (3)  
Net (loss)/gain on derivatives used for risk management purposes (4,886) 7,866  
Net loss on securitized debt measured at fair value through earnings (16,905) 6,538  
Lima One - origination, servicing and other fee income 8,976 14,494  
Other, net 371 55  
Other Income/(Loss), net 21,238 (5,858)  
General and administrative expenses (including compensation) 12,535 12,219  
Loan servicing, financing, and other related costs 218 236  
Amortization of intangible assets 1,300 3,300  
Net Income/(Loss) 20,215 (10,474)  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 20,215 (10,474)  
Total Assets 2,873,951   2,618,695
Corporate      
Segment Reporting Information [Line Items]      
Interest Income 2,865 27  
Interest Expense 3,955 3,931  
Net Interest Income (1,090) (3,904)  
Reversal of Provision/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Net Interest Income after Reversal of Provision for Credit Losses (1,090) (3,904)  
Net gain on residential whole loans measured at fair value through earnings 0 0  
Impairment and other net gain/(loss) on securities and other portfolio investments 0 (780)  
Net gain on real estate owned 0 0  
Net (loss)/gain on derivatives used for risk management purposes 0 0  
Net loss on securitized debt measured at fair value through earnings 0 0  
Lima One - origination, servicing and other fee income 0 0  
Other, net 594 1,303  
Other Income/(Loss), net 594 523  
General and administrative expenses (including compensation) 18,486 16,034  
Loan servicing, financing, and other related costs 4,602 3,233  
Amortization of intangible assets 0 0  
Net Income/(Loss) (23,584) (22,648)  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities (31,803) $ (30,867)  
Total Assets $ 376,175   $ 428,153