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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]              
Interest Income $ 186,831   $ 144,350   $ 363,662 $ 276,555  
Interest Expense 133,342   99,845   262,359 192,681  
Net Interest Income 53,489   44,505   101,303 83,874  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 1,079   (294)   1,539 (281)  
Reversal/(Provision) for Credit Losses on Other Assets (26)   0   (1,135) 0  
Net Interest Income after Reversal/(Provision) for Credit Losses 54,542   44,211   101,707 83,593  
Net gain/(loss) on residential whole loans measured at fair value through earnings 16,430   (130,703)   4,917 (1,529)  
Impairment and other net gain/(loss) on securities and other portfolio investments (2,842)   (4,569)   (7,618) (1,638)  
Net gain/(loss) on real estate owned 1,880   2,153   2,871 6,095  
Net gain/(loss) on derivatives used for risk management purposes 16,087   60,451   66,028 39,243  
Net gain/(loss) on securitized debt measured at fair value through earnings (10,642)   27,394   (33,104) (24,331)  
Lima One - origination, servicing and other fee income 7,619   11,477   15,547 20,453  
Net realized gain/(loss) on residential whole loans held at carrying value 0   0   418 0  
Other, net 1,317   5,492   3,192 8,506  
Other Income/(Loss), net 29,849   (28,305)   52,251 46,799  
Compensation and benefits 21,747   21,771   47,215 42,401  
Other general and administrative expense 10,835   11,522   22,830 21,199  
Loan servicing, financing and other related costs 8,717   7,598   15,759 17,137  
Amortization of intangible assets 800   1,300   1,600 2,600  
Income/(loss) before income taxes 42,292   (26,285)   66,554 47,055  
Provision for/(benefit from) income taxes 346   (357)   1,395 199  
Net Income/(Loss) 41,946 $ 23,213 (25,928) $ 72,784 65,159 46,856  
Less Preferred Stock Dividend Requirement 8,218   8,218   16,437 16,437  
Net Income/(Loss) Available to Common Stock and Participating Securities 33,728   (34,146)   48,722 30,419  
Total Assets 11,076,925       11,076,925   $ 10,772,690
Operating Segments | Mortgage-Related Assets              
Segment Reporting Information [Line Items]              
Interest Income 101,216   89,912   196,616 174,732  
Interest Expense 70,009   57,308   136,860 113,394  
Net Interest Income 31,207   32,604   59,756 61,338  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 1,079   (294)   1,539 (595)  
Reversal/(Provision) for Credit Losses on Other Assets (26)       (1,135)    
Net Interest Income after Reversal/(Provision) for Credit Losses 32,260   32,310   60,160 60,743  
Net gain/(loss) on residential whole loans measured at fair value through earnings 28,474   (97,459)   19,775 (1,949)  
Impairment and other net gain/(loss) on securities and other portfolio investments (1,358)   (3,697)   (6,133) (767)  
Net gain/(loss) on real estate owned 2,167   2,493   3,423 6,417  
Net gain/(loss) on derivatives used for risk management purposes 11,296   45,142   47,455 28,820  
Net gain/(loss) on securitized debt measured at fair value through earnings (6,620)   18,887   (18,196) (15,933)  
Lima One - origination, servicing and other fee income 0   0   0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0       418 0  
Other, net (85)   3,812   875 6,020  
Other Income/(Loss), net 33,874   (30,822)   47,617 22,608  
Compensation and benefits 0   0   0 0  
Other general and administrative expense 115   0   121 0  
Loan servicing, financing and other related costs 4,796   5,395   10,066 10,114  
Amortization of intangible assets 0   0   0 0  
Income/(loss) before income taxes 61,223   (3,907)   97,590 73,237  
Provision for/(benefit from) income taxes 0   0   0 0  
Net Income/(Loss) 61,223   (3,907)   97,590 73,237  
Less Preferred Stock Dividend Requirement 0   0   0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 61,223   (3,907)   97,590 73,237  
Total Assets 6,575,888       6,575,888   6,370,237
Operating Segments | Lima One              
Segment Reporting Information [Line Items]              
Interest Income 81,780   51,308   159,870 95,828  
Interest Expense 56,746   38,575   113,336 71,370  
Net Interest Income 25,034   12,733   46,534 24,458  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0   0   0 314  
Reversal/(Provision) for Credit Losses on Other Assets 0       0    
Net Interest Income after Reversal/(Provision) for Credit Losses 25,034   12,733   46,534 24,772  
Net gain/(loss) on residential whole loans measured at fair value through earnings (12,044)   (33,244)   (14,858) 420  
Impairment and other net gain/(loss) on securities and other portfolio investments 0   0   0 0  
Net gain/(loss) on real estate owned (287)   (340)   (552) (322)  
Net gain/(loss) on derivatives used for risk management purposes 4,791   15,309   18,573 10,423  
Net gain/(loss) on securitized debt measured at fair value through earnings (4,022)   8,507   (14,908) (8,398)  
Lima One - origination, servicing and other fee income 7,619   11,477   15,547 20,453  
Net realized gain/(loss) on residential whole loans held at carrying value 0       0 0  
Other, net 914   1,076   1,418 1,447  
Other Income/(Loss), net (3,029)   2,785   5,220 24,023  
Compensation and benefits 10,765   11,403   22,889 20,943  
Other general and administrative expense 4,936   4,198   10,573 7,193  
Loan servicing, financing and other related costs 615   131   1,135 350  
Amortization of intangible assets 800   1,300   1,600 2,600  
Income/(loss) before income taxes 4,889   (1,514)   15,557 17,709  
Provision for/(benefit from) income taxes 0   0   0 0  
Net Income/(Loss) 4,889   (1,514)   15,557 17,709  
Less Preferred Stock Dividend Requirement 0   0   0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 4,889   (1,514)   15,557 17,709  
Total Assets 4,167,768       4,167,768   4,000,932
Corporate              
Segment Reporting Information [Line Items]              
Interest Income 3,835   3,130   7,176 5,995  
Interest Expense 6,587   3,962   12,163 7,917  
Net Interest Income (2,752)   (832)   (4,987) (1,922)  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 0   0   0 0  
Reversal/(Provision) for Credit Losses on Other Assets 0       0    
Net Interest Income after Reversal/(Provision) for Credit Losses (2,752)   (832)   (4,987) (1,922)  
Net gain/(loss) on residential whole loans measured at fair value through earnings 0   0   0 0  
Impairment and other net gain/(loss) on securities and other portfolio investments (1,484)   (872)   (1,485) (871)  
Net gain/(loss) on real estate owned 0   0   0 0  
Net gain/(loss) on derivatives used for risk management purposes 0   0   0 0  
Net gain/(loss) 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  
Net realized gain/(loss) on residential whole loans held at carrying value 0       0 0  
Other, net 488   604   899 1,039  
Other Income/(Loss), net (996)   (268)   (586) 168  
Compensation and benefits 10,982   10,368   24,326 21,458  
Other general and administrative expense 5,784   7,324   12,136 14,006  
Loan servicing, financing and other related costs 3,306   2,072   4,558 6,673  
Amortization of intangible assets 0   0   0 0  
Income/(loss) before income taxes (23,820)   (20,864)   (46,593) (43,891)  
Provision for/(benefit from) income taxes 346   (357)   1,395 199  
Net Income/(Loss) (24,166)   (20,507)   (47,988) (44,090)  
Less Preferred Stock Dividend Requirement 8,218   8,218   16,437 16,437  
Net Income/(Loss) Available to Common Stock and Participating Securities (32,384)   $ (28,725)   (64,425) $ (60,527)  
Total Assets $ 333,269       $ 333,269   $ 401,521