CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows From Operating Activities:
Net income	$ 181,897	$ 153,790
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of residential mortgage securities	(32,319)	(16,246)
Gain on sales of real estate owned	(3,692)	(4,673)
Gain on liquidation of residential whole loans	(9,661)	(12,742)
Accretion of purchase discounts on residential mortgage securities, residential whole loans and MSR-related assets	(33,193)	(40,948)
Amortization of purchase premiums on residential mortgage securities and residential whole loans	19,422	12,508
Depreciation and amortization on real estate, fixed assets and other assets	1,084	805
Equity-based compensation expense	3,436	2,809
Unrealized gains on residential whole loans at fair value	(20,128)	(18,346)
Unrealized losses/(gains) on residential mortgage securities and interest rate swap agreements (“Swaps”) and other	1,363	(592)
Increase in other assets	(26,978)	(22,469)
Increase/(decrease) in other liabilities	4,716	(10,091)
Net cash provided by operating activities	85,947	43,805
Cash Flows From Investing Activities:
Principal payments on residential mortgage securities and MSR-related assets	930,591	1,107,871
Proceeds from sales of residential mortgage securities	404,796	198,392
Purchases of residential mortgage securities and MSR-related assets	(697,973)	(323,309)
Purchases of residential whole loans, loan related investments and capitalized advances	(1,943,860)	(943,433)
Principal payments on residential whole loans	523,600	174,713
Proceeds from sales of real estate owned	56,073	58,230
Purchases of real estate owned and capital improvements	(10,561)	(5,282)
Additions to leasehold improvements, furniture and fixtures	(1,043)	(551)
Net cash (used in)/ provided by investing activities	(738,377)	266,631
Cash Flows From Financing Activities:
Principal payments on repurchase agreements	(38,068,063)	(32,054,576)
Proceeds from borrowings under repurchase agreements	38,819,598	31,331,949
Proceeds from issuance of securitized debt	0	183,970
Principal payments on securitized debt	(57,496)	(28,639)
Payments made for securitization related costs	0	(956)
Proceeds from issuance of Convertible Senior Notes	223,444	0
Payments made for settlements on Swaps	(47,131)	(33,316)
Proceeds from settlements on Swaps	0	51,711
Proceeds from issuances of common stock	1,137	1,711
Dividends paid on preferred stock	(7,500)	(7,500)
Dividends paid on common stock and dividend equivalents	(180,551)	(159,676)
Net cash provided by/(used in) financing activities	683,438	(715,322)
Net increase/(decrease) in cash, cash equivalents and restricted cash	31,008	(404,886)
Cash, cash equivalents and restricted cash at beginning of period	88,709	463,743
Cash, cash equivalents and restricted cash at end of period	119,717	58,857
Supplemental Disclosure of Cash Flow Information
Interest Paid	169,852	103,187
Non-cash Investing and Financing Activities:
Net decrease in securities obtained as collateral/obligation to return securities obtained as collateral	0	(248,650)
Transfer from residential whole loans to real estate owned	131,644	103,521
Dividends and dividend equivalents declared and unpaid	90,400	79,948
Payable for unsettled residential whole loans purchases	$ 86,987	$ 567,915