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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]                  
Interest Income $ 159,165     $ 123,872     $ 435,720 $ 339,542  
Interest Expense 113,024     71,579     305,705 171,617  
Net Interest Income 46,141     52,293     130,015 167,925  
Reversal of Provision for Credit Losses on Residential Whole Loans 1,258     (588)     977 1,106  
Provision for Credit Losses on Other Assets 0     0     0 (28,579)  
Net Interest Income/(Expense) after Provision for Credit Losses 47,399     51,705     130,992 140,452  
Net loss on residential whole loans measured at fair value through earnings (132,894)     (291,818)     (134,423) (797,934)  
Impairment and other net loss/gain on securities and other portfolio investments (14,161)     (411)     (15,799) (16,159)  
Net gain on real estate owned 2,409     3,861     8,504 19,777  
Net gain on derivatives used for risk management purposes 34,860     111,816     74,103 253,721  
Net gain on securitized debt measured at fair value through earnings 36,431     98,858     12,100 247,548  
Lima One - origination, servicing and other fee income 12,109     12,372     32,562 37,539  
Other, net 1,854     1,131     10,522 7,353  
Other Loss, net (59,392)     (64,191)     (12,431) (248,155)  
Compensation and benefits 24,051     21,063     66,452 59,679  
General and administrative expenses 10,605     8,812     32,165 28,016  
Loan servicing, financing, and other related costs 8,989     11,357     26,126 34,993  
Amortization of intangible assets 800     1,300     3,400 7,900  
Net (Loss)/Income (56,438) $ (25,928) $ 72,784 (55,018) $ (100,367) $ (82,906) (9,582) (238,291)  
Less Preferred Stock Dividend Requirement 8,219     8,218     24,656 24,656  
Net (Loss)/Income Available to Common Stock and Participating Securities (64,657)     (63,236)     (34,238) (262,947)  
Total Assets 10,104,800           10,104,800   $ 9,112,405
Operating Segments | Mortgage-Related Assets                  
Segment Reporting Information [Line Items]                  
Interest Income 94,855     90,406     269,586 263,960  
Interest Expense 64,785     47,780     180,802 120,678  
Net Interest Income 30,070     42,626     88,784 143,282  
Reversal of Provision for Credit Losses on Residential Whole Loans 1,258     (520)     663 1,211  
Provision for Credit Losses on Other Assets               0  
Net Interest Income/(Expense) after Provision for Credit Losses 31,328     42,106     89,447 144,493  
Net loss on residential whole loans measured at fair value through earnings (99,500)     (226,894)     (101,449) (657,223)  
Impairment and other net loss/gain on securities and other portfolio investments (13,439)     1,620     (14,205) (2,764)  
Net gain on real estate owned 2,062     3,861     8,479 19,745  
Net gain on derivatives used for risk management purposes 25,310     86,944     54,130 217,340  
Net gain on securitized debt measured at fair value through earnings 25,345     79,471     9,412 202,016  
Lima One - origination, servicing and other fee income 0     0     0 0  
Other, net 515     282     6,535 4,198  
Other Loss, net (59,707)     (54,716)     (37,098) (216,688)  
Compensation and benefits 0     0     0 0  
General and administrative expenses 0     0     0 0  
Loan servicing, financing, and other related costs 5,032     6,063     15,146 19,508  
Amortization of intangible assets 0     0     0 0  
Net (Loss)/Income (33,411)     (18,673)     37,203 (91,703)  
Less Preferred Stock Dividend Requirement 0     0     0 0  
Net (Loss)/Income Available to Common Stock and Participating Securities (33,411)     (18,673)     37,203 (91,703)  
Total Assets 6,174,062           6,174,062   6,065,557
Operating Segments | Lima One                  
Segment Reporting Information [Line Items]                  
Interest Income 61,101     31,883     156,930 73,736  
Interest Expense 44,303     19,856     113,050 39,128  
Net Interest Income 16,798     12,027     43,880 34,608  
Reversal of Provision for Credit Losses on Residential Whole Loans 0     (68)     314 (105)  
Provision for Credit Losses on Other Assets               0  
Net Interest Income/(Expense) after Provision for Credit Losses 16,798     11,959     44,194 34,503  
Net loss on residential whole loans measured at fair value through earnings (33,394)     (64,924)     (32,974) (140,711)  
Impairment and other net loss/gain on securities and other portfolio investments 0     0     0 0  
Net gain on real estate owned 347     0     25 32  
Net gain on derivatives used for risk management purposes 9,550     24,872     19,973 36,381  
Net gain on securitized debt measured at fair value through earnings 11,086     19,387     2,688 45,532  
Lima One - origination, servicing and other fee income 12,109     12,372     32,562 37,539  
Other, net 684     35     2,131 64  
Other Loss, net 382     (8,258)     24,405 (21,163)  
Compensation and benefits 12,010     11,170     32,952 29,650  
General and administrative expenses 4,664     3,756     11,858 10,509  
Loan servicing, financing, and other related costs 699     280     1,049 839  
Amortization of intangible assets 800     1,300     3,400 7,900  
Net (Loss)/Income (993)     (12,805)     19,340 (35,558)  
Less Preferred Stock Dividend Requirement 0     0     0 0  
Net (Loss)/Income Available to Common Stock and Participating Securities (993)     (12,805)     19,340 (35,558)  
Total Assets 3,572,079           3,572,079   2,618,695
Corporate                  
Segment Reporting Information [Line Items]                  
Interest Income 3,209     1,583     9,204 1,846  
Interest Expense 3,936     3,943     11,853 11,811  
Net Interest Income (727)     (2,360)     (2,649) (9,965)  
Reversal of Provision for Credit Losses on Residential Whole Loans 0     0     0 0  
Provision for Credit Losses on Other Assets               (28,579)  
Net Interest Income/(Expense) after Provision for Credit Losses (727)     (2,360)     (2,649) (38,544)  
Net loss on residential whole loans measured at fair value through earnings 0     0     0 0  
Impairment and other net loss/gain on securities and other portfolio investments (722)     (2,031)     (1,594) (13,395)  
Net gain on real estate owned 0     0     0 0  
Net gain on derivatives used for risk management purposes 0     0     0 0  
Net gain on securitized debt measured at fair value through earnings 0     0     0 0  
Lima One - origination, servicing and other fee income 0     0     0 0  
Other, net 655     814     1,856 3,091  
Other Loss, net (67)     (1,217)     262 (10,304)  
Compensation and benefits 12,041     9,893     33,500 30,029  
General and administrative expenses 5,941     5,056     20,307 17,507  
Loan servicing, financing, and other related costs 3,258     5,014     9,931 14,646  
Amortization of intangible assets 0     0     0 0  
Net (Loss)/Income (22,034)     (23,540)     (66,125) (111,030)  
Less Preferred Stock Dividend Requirement 8,219     8,218     24,656 24,656  
Net (Loss)/Income Available to Common Stock and Participating Securities (30,253)     $ (31,758)     (90,781) $ (135,686)  
Total Assets $ 358,659           $ 358,659   $ 428,153