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Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]                  
Interest Income $ 181,974     $ 159,165     $ 545,636 $ 435,720  
Interest Expense 131,349     113,024     393,708 305,705  
Net Interest Income 50,625     46,141     151,928 130,015  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 1,942     1,258     3,481 977  
Reversal/(Provision) for Credit Losses on Other Assets 0     0     (1,135) 0  
Net Interest Income after Reversal/(Provision) for Credit Losses 52,567     47,399     154,274 130,992  
Net gain/(loss) on residential whole loans measured at fair value through earnings 143,416     (132,894)     148,333 (134,423)  
Impairment and other net gain/(loss) on securities and other portfolio investments 22,928     (14,161)     15,310 (15,799)  
Net gain/(loss) on real estate owned 241     2,409     3,112 8,504  
Net gain/(loss) on derivatives used for risk management purposes (56,818)     34,860     9,210 74,103  
Net gain/(loss) on securitized debt measured at fair value through earnings (75,273)     36,431     (108,377) 12,100  
Lima One mortgage banking income 8,921     12,109     24,468 32,562  
Net realized gain/(loss) on residential whole loans held at carrying value 0     0     418 0  
Other, net (3,131)     1,418     61 9,924  
Other Income/(Loss), net 40,284     (59,828)     92,535 (13,029)  
Compensation and benefits 22,417     24,051     69,632 66,452  
Other general and administrative expense 11,430     10,075     34,260 31,272  
Loan servicing, financing and other related costs 8,503     8,989     24,262 26,126  
Amortization of intangible assets 800     800     2,400 3,400  
Income/(loss) before income taxes 49,701     (56,344)     116,255 (9,287)  
Provision for/(benefit from) income taxes 1,518     94     2,913 295  
Net Income/(Loss) 48,183 $ 41,946 $ 23,213 (56,438) $ (25,928) $ 72,784 113,342 (9,582)  
Less Preferred Stock Dividend Requirement 8,219     8,219     24,656 24,656  
Net Income/(Loss) Available to Common Stock and Participating Securities 39,964     (64,657)     88,686 (34,238)  
Total Assets 11,159,846           11,159,846   $ 10,772,690
Operating Segments | Mortgage-Related Assets                  
Segment Reporting Information [Line Items]                  
Interest Income 101,374     94,855     297,990 269,586  
Interest Expense 72,373     62,992     209,234 176,387  
Net Interest Income 29,001     31,863     88,756 93,199  
Reversal/(Provision) for Credit Losses on Residential Whole Loans 1,942     1,258     3,481 663  
Reversal/(Provision) for Credit Losses on Other Assets 0           (1,135)    
Net Interest Income after Reversal/(Provision) for Credit Losses 30,943     33,121     91,102 93,862  
Net gain/(loss) on residential whole loans measured at fair value through earnings 117,957     (99,500)     137,732 (101,449)  
Impairment and other net gain/(loss) on securities and other portfolio investments 24,431     (13,439)     18,297 (14,205)  
Net gain/(loss) on real estate owned 656     2,062     4,080 8,479  
Net gain/(loss) on derivatives used for risk management purposes (42,823)     25,310     4,631 54,130  
Net gain/(loss) on securitized debt measured at fair value through earnings (53,766)     25,345     (71,962) 9,412  
Lima One mortgage banking income 0     0     0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0           418 0  
Other, net 163     515     1,038 6,535  
Other Income/(Loss), net 46,618     (59,707)     94,234 (37,098)  
Compensation and benefits 0     0     0 0  
Other general and administrative expense 70     0     190 0  
Loan servicing, financing and other related costs 4,297     5,032     14,363 15,146  
Amortization of intangible assets 0     0     0 0  
Income/(loss) before income taxes 73,194     (31,618)     170,783 41,618  
Provision for/(benefit from) income taxes 0     0     0 0  
Net Income/(Loss) 73,194     (31,618)     170,783 41,618  
Less Preferred Stock Dividend Requirement 0     0     0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 73,194     (31,618)     170,783 41,618  
Total Assets 6,968,000           6,968,000   6,370,237
Operating Segments | Lima One                  
Segment Reporting Information [Line Items]                  
Interest Income 77,234     61,101     237,104 156,930  
Interest Expense 54,460     46,096     167,796 117,465  
Net Interest Income 22,774     15,005     69,308 39,465  
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 22,774     15,005     69,308 39,779  
Net gain/(loss) on residential whole loans measured at fair value through earnings 25,459     (33,394)     10,601 (32,974)  
Impairment and other net gain/(loss) on securities and other portfolio investments 0     0     0 0  
Net gain/(loss) on real estate owned (415)     347     (968) 25  
Net gain/(loss) on derivatives used for risk management purposes (13,995)     9,550     4,579 19,973  
Net gain/(loss) on securitized debt measured at fair value through earnings (21,507)     11,086     (36,415) 2,688  
Lima One mortgage banking income 8,921     12,109     24,468 32,562  
Net realized gain/(loss) on residential whole loans held at carrying value 0           0 0  
Other, net (3,757)     684     (2,339) 2,131  
Other Income/(Loss), net (5,294)     382     (74) 24,405  
Compensation and benefits 10,757     12,010     33,646 32,952  
Other general and administrative expense 5,068     4,664     15,642 11,858  
Loan servicing, financing and other related costs 595     699     1,729 1,049  
Amortization of intangible assets 800     800     2,400 3,400  
Income/(loss) before income taxes 260     (2,786)     15,817 14,925  
Provision for/(benefit from) income taxes 0     0     0 0  
Net Income/(Loss) 260     (2,786)     15,817 14,925  
Less Preferred Stock Dividend Requirement 0     0     0 0  
Net Income/(Loss) Available to Common Stock and Participating Securities 260     (2,786)     15,817 14,925  
Total Assets 3,831,181           3,831,181   4,000,932
Corporate                  
Segment Reporting Information [Line Items]                  
Interest Income 3,366     3,209     10,542 9,204  
Interest Expense 4,516     3,936     16,678 11,853  
Net Interest Income (1,150)     (727)     (6,136) (2,649)  
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 (1,150)     (727)     (6,136) (2,649)  
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 (1,503)     (722)     (2,987) (1,594)  
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 mortgage banking income 0     0     0 0  
Net realized gain/(loss) on residential whole loans held at carrying value 0           0 0  
Other, net 463     219     1,362 1,258  
Other Income/(Loss), net (1,040)     (503)     (1,625) (336)  
Compensation and benefits 11,660     12,041     35,986 33,500  
Other general and administrative expense 6,292     5,411     18,428 19,414  
Loan servicing, financing and other related costs 3,611     3,258     8,170 9,931  
Amortization of intangible assets 0     0     0 0  
Income/(loss) before income taxes (23,753)     (21,940)     (70,345) (65,830)  
Provision for/(benefit from) income taxes 1,518     94     2,913 295  
Net Income/(Loss) (25,271)     (22,034)     (73,258) (66,125)  
Less Preferred Stock Dividend Requirement 8,219     8,219     24,656 24,656  
Net Income/(Loss) Available to Common Stock and Participating Securities (33,490)     $ (30,253)     (97,914) $ (90,781)  
Total Assets $ 360,665           $ 360,665   $ 401,521