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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Interest Income $ 176,831 $ 132,205  
Interest Expense 129,017 92,836  
Net Interest Income 47,814 39,369  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 460 13  
Reversal/(Provision) for Credit Losses on Other Assets (1,109) 0  
Net Interest Income after Reversal/(Provision) for Credit Losses 47,165 39,382  
Net gain/(loss) on residential whole loans measured at fair value through earnings (11,513) 129,174  
Impairment and other net gain/(loss) on securities and other portfolio investments (4,776) 2,931  
Net gain/(loss) on real estate owned 991 3,942  
Net gain/(loss) on derivatives used for risk management purposes 49,941 (21,208)  
Net gain/(loss) on securitized debt measured at fair value through earnings (22,462) (51,725)  
Lima One - origination, servicing and other fee income 7,928 8,976  
Net realized gain/(loss) on residential whole loans held at carrying value 418 0  
Other, net 1,875 3,014  
Other Income/(Loss), net 22,402 75,104  
Compensation and benefits 25,468 20,630  
Other general and administrative expense 13,044 10,233  
Loan servicing, financing and other related costs 7,042 9,539  
Amortization of intangible assets 800 1,300  
Net Income/(Loss) 23,213 72,784  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities 14,994 64,565  
Total Assets 10,874,130   $ 10,772,690
Operating Segments | Mortgage-Related Assets      
Segment Reporting Information [Line Items]      
Interest Income 95,400 84,819  
Interest Expense 69,259 57,077  
Net Interest Income 26,141 27,742  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 460 (300)  
Reversal/(Provision) for Credit Losses on Other Assets (1,109)    
Net Interest Income after Reversal/(Provision) for Credit Losses 25,492 27,442  
Net gain/(loss) on residential whole loans measured at fair value through earnings (8,699) 95,509  
Impairment and other net gain/(loss) on securities and other portfolio investments (4,776) 2,931  
Net gain/(loss) on real estate owned 1,256 3,925  
Net gain/(loss) on derivatives used for risk management purposes 36,158 (16,322)  
Net gain/(loss) on securitized debt measured at fair value through earnings (11,576) (34,820)  
Lima One - origination, servicing and other fee income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 418    
Other, net 959 2,207  
Other Income/(Loss), net 13,740 53,430  
Compensation and benefits 0 0  
Other general and administrative expense 6 0  
Loan servicing, financing and other related costs 5,270 4,719  
Amortization of intangible assets 0 0  
Net Income/(Loss) 33,956 76,153  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 33,956 76,153  
Total Assets 6,319,998   6,370,237
Operating Segments | Lima One      
Segment Reporting Information [Line Items]      
Interest Income 78,089 44,521  
Interest Expense 54,183 31,804  
Net Interest Income 23,906 12,717  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 313  
Reversal/(Provision) for Credit Losses on Other Assets 0    
Net Interest Income after Reversal/(Provision) for Credit Losses 23,906 13,030  
Net gain/(loss) on residential whole loans measured at fair value through earnings (2,814) 33,665  
Impairment and other net gain/(loss) on securities and other portfolio investments 0 0  
Net gain/(loss) on real estate owned (265) 17  
Net gain/(loss) on derivatives used for risk management purposes 13,783 (4,886)  
Net gain/(loss) on securitized debt measured at fair value through earnings (10,886) (16,905)  
Lima One - origination, servicing and other fee income 7,928 8,976  
Net realized gain/(loss) on residential whole loans held at carrying value 0    
Other, net 504 371  
Other Income/(Loss), net 8,250 21,238  
Compensation and benefits 12,124 9,540  
Other general and administrative expense 5,637 2,995  
Loan servicing, financing and other related costs 519 218  
Amortization of intangible assets 800 1,300  
Net Income/(Loss) 13,076 20,215  
Less Preferred Stock Dividend Requirement 0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 13,076 20,215  
Total Assets 4,196,761   4,000,932
Corporate      
Segment Reporting Information [Line Items]      
Interest Income 3,342 2,865  
Interest Expense 5,575 3,955  
Net Interest Income (2,233) (1,090)  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0    
Net Interest Income after Reversal/(Provision) for Credit Losses (2,233) (1,090)  
Net gain/(loss) 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 0  
Net gain/(loss) on real estate owned 0 0  
Net gain/(loss) on derivatives used for risk management purposes 0 0  
Net gain/(loss) on securitized debt measured at fair value through earnings 0 0  
Lima One - origination, servicing and other fee income 0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0    
Other, net 412 436  
Other Income/(Loss), net 412 436  
Compensation and benefits 13,344 11,090  
Other general and administrative expense 7,401 7,238  
Loan servicing, financing and other related costs 1,253 4,602  
Amortization of intangible assets 0 0  
Net Income/(Loss) (23,819) (23,584)  
Less Preferred Stock Dividend Requirement 8,219 8,219  
Net Income/(Loss) Available to Common Stock and Participating Securities (32,038) $ (31,803)  
Total Assets $ 357,371   $ 401,521