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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income $ 319,613 $ (581,847) $ 169,183
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Amortization of premiums, discounts, and debt issuance costs, net (9,789) 8,550 (5,066)
Depreciation and amortization of non-financial assets 16,784 17,365 10,133
Originations of held-for-sale loans (1,258,115) (1,004,058) (569,915)
Purchases of held-for-sale loans (13,188,434) (4,431,468) (5,823,547)
Proceeds from sales of held-for-sale loans 8,639,769 4,776,469 5,198,089
Principal payments on held-for-sale loans 84,244 62,736 106,183
Net settlements of derivatives 44,755 (201,036) (66,059)
Non-cash equity award compensation expense 18,902 15,298 14,957
Goodwill impairment expense 0 88,675 0
Market valuation adjustments (321,433) 541,399 (97,006)
Realized gains, net (17,993) (30,424) (23,821)
Net change in:      
Accrued interest receivable and other assets (64,835) 301,381 (83,210)
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities 41,967 (68,507) 4,502
Net cash used in operating activities (5,694,565) (505,467) (1,165,577)
Cash Flows From Investing Activities:      
Originations of loans held-for-investment (894,908) (426,404) (448,189)
Purchases of loans held-for-investment (65,315) 0 (49,489)
Proceeds from sales of loans held-for-investment 9,484 1,574,160 9,422
Principal payments on loans held-for-investment 2,601,416 2,256,196 1,751,303
Purchases of real estate securities (68,643) (112,626) (345,403)
Sales of multifamily securities held in consolidated securitization trusts 8,197 142,990 0
Proceeds from sales of real estate securities 39,652 658,899 707,357
Principal payments on real estate securities 60,667 27,210 84,303
Purchases of servicer advance investments (196,583) (179,419) (69,610)
Principal repayments from servicer advance investments 76,223 107,527 203,876
Acquisition of 5 Arches, net of cash acquired 0 0 (3,714)
Acquisition of CoreVest, net of cash acquired 0 0 (451,626)
Equity investment 0 40,226 (40,467)
Purchases of home equity investments, net (133,547) 734 0
Other investing activities, net (32,547) (19,079) (29,468)
Net cash provided by investing activities 1,404,096 4,070,414 1,025,862
Cash Flows From Financing Activities:      
Proceeds from borrowings on short-term debt 13,235,028 5,496,761 6,452,566
Repayments on short-term debt (11,404,475) (7,303,543) (7,193,677)
Proceeds from issuance of asset-backed securities 4,472,071 1,684,778 1,397,126
Repayments on asset-backed securities issued (1,989,762) (1,493,438) (1,123,119)
Proceeds from issuance of long-term debt 1,455,383 1,473,590 387,053
Deferred debt issuance costs (4,089) (10,244) (7,023)
Repayments on long-term debt (1,421,662) (2,974,795) (1,137)
Net settlements of derivatives 0 (84,336) 0
Net proceeds from issuance of common stock 21,944 5,881 450,710
Net payments on repurchase of common stock 0 (21,659) 0
Taxes paid on equity award distributions (2,267) (4,286) (5,471)
Dividends paid (91,672) (83,985) (129,452)
Other financing activities, net 7,004 3,946 (2,105)
Net cash provided by (used in) financing activities 4,277,503 (3,311,330) 225,471
Net (decrease) increase in cash and cash equivalents (12,966) 253,617 85,756
Cash, cash equivalents and restricted cash at beginning of period [1] 544,450 290,833 205,077
Cash, cash equivalents and restricted cash at end of period [1] 531,484 544,450 290,833
Cash paid during the period for:      
Interest 400,836 456,147 452,216
Taxes 43,144 1,190 7,963
Supplemental Noncash Information:      
Real estate securities retained from loan securitizations 9,375 53,276 13,729
Retention of mortgage servicing rights from loan securitizations and sales 7,065 0 868
Consolidation of residential loans held in securitization trust 0 0 1,190,995
Consolidation of residential ABS issued 0 0 997,783
(Deconsolidation) consolidation of multifamily loans held in securitization trusts 0 3,849,779 2,162,385
(Deconsolidation) consolidation of multifamily ABS issued 0 3,706,789 2,058,214
Consolidation of single-family rental loans held in securitization trusts 0 0 1,829,281
Consolidation of single-family rental ABS issued 0 0 1,656,023
Transfers from loans held-for-sale to loans held-for-investment 5,026,723 1,868,656 1,801,560
Transfers from loans held-for-investment to loans held-for-sale 92,400 64,520 22,808
Transfers from residential loans to real estate owned 40,038 14,229 8,609
Issuance of common stock for 5 Arches acquisition 13,375 3,375 0
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 6,977 7,862 13,094
Reduction in operating lease liabilities due to lease modification 0 1,722 0
Residential Loans      
Cash Flows From Investing Activities:      
Purchases of securities held in consolidated securitization trusts 0 0 (193,212)
Multifamily securities      
Cash Flows From Investing Activities:      
Purchases of securities held in consolidated securitization trusts $ 0 $ 0 $ (99,221)
[1] Cash, cash equivalents, and restricted cash at December 31, 2021 included cash and cash equivalents of $450 million and restricted cash of $81 million; at December 31, 2020 included cash and cash equivalents of $461 million and restricted cash of $83 million; and at December 31, 2019 included cash and cash equivalents of $197 million and restricted cash of $94 million.