CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022		Mar. 31, 2021
Cash flows from operating activities
Net income (loss)	$ 2,023,894		$ 1,751,134
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Amortization of premiums and discounts of investments, net	(11,770)		(9,960)
Amortization of securitized debt premiums and discounts and deferred financing costs	(3,074)		(3,588)
Depreciation, amortization and other noncash expenses	4,746		8,408
Net (gains) losses on investments and derivatives	(1,544,765)		(1,287,535)
Business divestiture-related (gains) losses	354		249,563
Income from unconsolidated joint ventures	(8,384)		(1,025)
Loan loss (provision) reversal	608		(139,620)
Payments on purchases of loans held for sale	0		(969)
Proceeds from sales and repayments of loans held for sale	994		3,067
Net receipts (payments) on derivatives	856,299		435,107
Net change in
Other assets	(5,266)		(31,236)
Interest receivable	(8,069)		9,386
Interest payable	(10,657)		(89,000)
Other liabilities	734,238		170,818
Net cash provided by (used in) operating activities	2,029,148		1,064,550
Cash flows from investing activities
Payments on purchases of securities	(5,061,300)		(5,478,414)
Proceeds from sales of securities	2,393,169		2,852,764
Principal payments on securities	3,047,356		4,986,008
Payments on purchases and origination of loans	(2,194,285)		(651,397)
Proceeds from sales of loans	4,215		46,171
Principal payments on loans	605,626		683,451
Payments on purchases of MSR	(421,012)		0
Payments on purchases of interests in MSR	(4,913)		0
Investments in real estate	0		(746)
Proceeds from sales of real estate	0		4,265
Proceeds from reverse repurchase agreements	2,100,000		8,634,313
Payments on reverse repurchase agreements	(2,100,000)		(8,634,313)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	0		290
Net cash provided by (used in) investing activities	(1,631,144)		2,442,392
Cash flows from financing activities
Proceeds from repurchase agreements and other secured financing	839,715,390		534,607,127
Payments on repurchase agreements and other secured financing	(841,845,524)		(537,932,992)
Proceeds from issuances of securitized debt	2,293,500		251,379
Principal payments on securitized debt	(398,843)		(357,224)
Net proceeds from stock offerings, direct purchases and dividend reinvestments	6,104		0
Proceeds from participations issued	676,499		183,067
Payments on repurchases of participations issued	(888,343)		(40,434)
Principal payments on participations issued	(17,370)		(1,293)
Net principal receipts (payments) on mortgages payable	0		(330)
Net contributions (distributions) from (to) noncontrolling interests	24,390		(2,013)
Settlement of stock-based awards in satisfaction of withholding tax requirements	(1,977)		(596)
Dividends paid	(348,080)		(334,543)
Net cash provided by (used in) financing activities	(784,254)		(3,627,852)
Net (decrease) increase in cash and cash equivalents	(386,250)		(120,910)
Cash and cash equivalents including cash pledged as collateral, beginning of period	1,342,090		1,243,703
Cash and cash equivalents including cash pledged as collateral, end of period	955,840	[1]	1,122,793
Supplemental disclosure of cash flow information
Interest received	565,361		783,900
Dividends received	0		33
Interest paid (excluding interest paid on interest rate swaps)	57,138		116,028
Net interest received (paid) on interest rate swaps	(66,918)		(133,628)
Taxes received (paid)	(677)		0
Noncash investing and financing activities
Receivable for unsettled trades	407,225		144,918
Payable for unsettled trades	1,992,568		1,070,080
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment	(3,423,892)		(1,372,104)
Dividends declared, not yet paid	$ 321,423		$ 307,671

[1] (2)Includes cash of consolidated Variable Interest Entities (“VIEs”) of $8.6 million and $16.2 million at March 31, 2022 and December 31, 2021, respectively.