CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (2,394)	$ (13,099)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Investment and derivative loss, net	457	15,795
Net (discount) premium (accretion) amortization	(3,694)	(1,297)
Other	3,316	1,131
Changes in operating assets
Interest receivable	67	312
Other assets	(2,743)	(537)
Changes in operating liabilities
Interest payable and other liabilities	3,693	1,087
Accrued compensation and benefits	(1,337)	(1,223)
Net cash (used in) provided by operating activities	(2,635)	2,169
Cash flows from investing activities:
Purchases of credit securities	(120,335)	(28,356)
Purchases of MSR financing receivables	(21,220)	(60,556)
Purchases of single-family residential real estate	(121,919)
Purchases of loans		(29,967)
Proceeds from sales of agency mortgage-backed securities	586,693	625,812
Proceeds from sales of credit securities	10,395	13,640
Proceeds from sales of single-family residential real estate	351
Receipt of principal payments on agency mortgage-backed securities	20,463	29,735
Receipt of principal payments on credit securities	862
Receipt of principal payments on loans	212	282
Receipt of principal payments on mortgage loans of consolidated VIE	29,278	58,948
Receipt of distributions on MSR financing receivables	64,552
Restricted cash balance of VIE upon consolidation	9,637
Proceeds from (payments for) derivatives and deposits, net	5,979	(9,349)
Other	6,231	3,583
Net cash provided by investing activities	70,848	(3,887)
Cash flows from financing activities:
Repayments of repurchase agreements, net	(116,630)	39,374
Repayments of secured debt of consolidated VIE	(31,652)	(65,350)
Repurchase of common stock	(6,739)	(4,013)
Repurchase of preferred stock	(1,749)
Proceeds from issuance of preferred stock	149
Proceeds from long-term debt secured by single-family properties	83,565
Repurchase of long-term unsecured debt		(7)
Dividends paid	(1,449)	(1,446)
Net cash used in financing activities	(74,505)	(31,442)
Net increase in cash, cash equivalents and restricted cash	(6,292)	(33,160)
Cash, cash equivalents and restricted cash, beginning of period	21,786	39,965
Cash, cash equivalents and restricted cash, end of period	15,494	6,805
Supplemental cash flow information:
Cash payments for interest	6,625	4,468
Cash payments for taxes	753
Non-cash investing activity:
Assets of VIE upon consolidation	287,282
Non-cash financing activity:
Liabilities of VIE upon consolidation	266,697
Agency MBS
Cash flows from investing activities:
Purchases of mortgage-backed securities	$ (400,331)	$ (607,659)