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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Assets carried at fair value    
Investment securities, available for sale, at fair value $ 1,512,252 $ 1,413,081
Level 3    
Assets carried at fair value    
Investments in unconsolidated entities 73,833 51,212
Fair Value, Measurements, Recurring    
Assets carried at fair value    
Distressed and other residential mortgage loans, at fair value 737,523 87,153
Investments in unconsolidated entities 32,994 42,823
Total 13,972,879 11,210,579
Liabilities carried at fair value    
Total 11,022,248 9,189,459
Fair Value, Measurements, Recurring | Interest rate swaps    
Assets carried at fair value    
Derivative assets at fair value 10,263 10,101
Fair Value, Measurements, Recurring | Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 1,037,730 1,169,536
Fair Value, Measurements, Recurring | Non-Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 214,037 102,125
Fair Value, Measurements, Recurring | CMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 260,485 141,420
Fair Value, Measurements, Recurring | Multi-family loans held in securitization trusts    
Assets carried at fair value    
Multi-family loans held in securitization trusts 11,679,847 9,657,421
Fair Value, Measurements, Recurring | Multi-family collateralized debt obligations, at fair value    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 11,022,248 9,189,459
Fair Value, Measurements, Recurring | Level 1    
Assets carried at fair value    
Distressed and other residential mortgage loans, at fair value 0 0
Investments in unconsolidated entities 0 0
Total 0 0
Liabilities carried at fair value    
Total 0 0
Fair Value, Measurements, Recurring | Level 1 | Interest rate swaps    
Assets carried at fair value    
Derivative assets at fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Non-Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | CMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Multi-family loans held in securitization trusts    
Assets carried at fair value    
Multi-family loans held in securitization trusts 0 0
Fair Value, Measurements, Recurring | Level 1 | Multi-family collateralized debt obligations, at fair value    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 0 0
Fair Value, Measurements, Recurring | Level 2    
Assets carried at fair value    
Distressed and other residential mortgage loans, at fair value 0 0
Investments in unconsolidated entities 0 0
Total 1,469,815 1,375,260
Liabilities carried at fair value    
Total 0 0
Fair Value, Measurements, Recurring | Level 2 | Interest rate swaps    
Assets carried at fair value    
Derivative assets at fair value 10,263 10,101
Fair Value, Measurements, Recurring | Level 2 | Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 1,037,730 1,169,536
Fair Value, Measurements, Recurring | Level 2 | Non-Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 214,037 102,125
Fair Value, Measurements, Recurring | Level 2 | CMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 207,785 93,498
Fair Value, Measurements, Recurring | Level 2 | Multi-family loans held in securitization trusts    
Assets carried at fair value    
Multi-family loans held in securitization trusts 0 0
Fair Value, Measurements, Recurring | Level 2 | Multi-family collateralized debt obligations, at fair value    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 0 0
Fair Value, Measurements, Recurring | Level 3    
Assets carried at fair value    
Distressed and other residential mortgage loans, at fair value 737,523 87,153
Investments in unconsolidated entities 32,994 42,823
Total 12,503,064 9,835,319
Liabilities carried at fair value    
Total 11,022,248 9,189,459
Fair Value, Measurements, Recurring | Level 3 | Interest rate swaps    
Assets carried at fair value    
Derivative assets at fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | Non-Agency RMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | CMBS    
Assets carried at fair value    
Investment securities, available for sale, at fair value 52,700 47,922
Fair Value, Measurements, Recurring | Level 3 | Multi-family loans held in securitization trusts    
Assets carried at fair value    
Multi-family loans held in securitization trusts 11,679,847 9,657,421
Fair Value, Measurements, Recurring | Level 3 | Multi-family collateralized debt obligations, at fair value    
Liabilities carried at fair value    
Multi-family collateralized debt obligations $ 11,022,248 $ 9,189,459