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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Assets carried at fair value    
Investment securities available for sale $ 794,473 $ 765,454
Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investments in unconsolidated entities 65,798 67,571
Total 8,399,782 8,167,136
Liabilities carried at fair value    
Total 6,962,291 6,820,401
TBA securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 288,455 226,929
Options on U.S. Treasury futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 79 15
Interest rate swap futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 706
Liabilities carried at fair value    
Derivative liabilities 682 0
U.S. Treasury futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 64 0
Eurodollar futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 3,277 1,242
Interest rate swaps | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 304
Liabilities carried at fair value    
Derivative liabilities 975 258
Swaptions | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 391 821
Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 710,144 713,116
Non-Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 16,999 1,567
U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 7,989 10,037
Collateralized Mortgage Backed Securities Held In Securitization Trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 59,341 40,734
Multi-family loans held in securitization trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Multi-family loans held in securitization trusts 7,250,586 7,105,336
Multi-family collateralized debt obligations | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 6,957,293 6,818,901
Level 1 | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investments in unconsolidated entities 0 0
Total 8,068 10,758
Liabilities carried at fair value    
Total 4,023 1,242
Level 1 | TBA securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 1 | Options on U.S. Treasury futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 79 15
Level 1 | Interest rate swap futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 706
Liabilities carried at fair value    
Derivative liabilities 682 0
Level 1 | U.S. Treasury futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 64 0
Level 1 | Eurodollar futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 3,277 1,242
Level 1 | Interest rate swaps | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 1 | Swaptions | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 1 | Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 1 | Non-Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 1 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 7,989 10,037
Level 1 | Collateralized Mortgage Backed Securities Held In Securitization Trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 1 | Multi-family loans held in securitization trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Multi-family loans held in securitization trusts 0 0
Level 1 | Multi-family collateralized debt obligations | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 0 0
Level 2 | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investments in unconsolidated entities 0 0
Total 1,033,840 942,737
Liabilities carried at fair value    
Total 975 258
Level 2 | TBA securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 288,455 226,929
Level 2 | Options on U.S. Treasury futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 2 | Interest rate swap futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 2 | U.S. Treasury futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 2 | Eurodollar futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 2 | Interest rate swaps | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 304
Liabilities carried at fair value    
Derivative liabilities 975 258
Level 2 | Swaptions | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 391 821
Level 2 | Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 710,144 713,116
Level 2 | Non-Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 16,999 1,567
Level 2 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 2 | Collateralized Mortgage Backed Securities Held In Securitization Trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 17,851 0
Level 2 | Multi-family loans held in securitization trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Multi-family loans held in securitization trusts 0 0
Level 2 | Multi-family collateralized debt obligations | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Multi-family collateralized debt obligations 0 0
Level 3    
Assets carried at fair value    
Investments in unconsolidated entities [1] 86,090 87,558
Level 3 | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investments in unconsolidated entities 65,798 67,571
Total 7,357,874 7,213,641
Liabilities carried at fair value    
Total 6,957,293 6,818,901
Level 3 | TBA securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 3 | Options on U.S. Treasury futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 3 | Interest rate swap futures | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 3 | U.S. Treasury futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 3 | Eurodollar futures | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 3 | Interest rate swaps | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Liabilities carried at fair value    
Derivative liabilities 0 0
Level 3 | Swaptions | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Derivative assets 0 0
Level 3 | Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 3 | Non-Agency RMBS | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 3 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 0 0
Level 3 | Collateralized Mortgage Backed Securities Held In Securitization Trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Investment securities available for sale 41,490 40,734
Level 3 | Multi-family loans held in securitization trusts | Fair Value, Measurements, Recurring    
Assets carried at fair value    
Multi-family loans held in securitization trusts 7,250,586 7,105,336
Level 3 | Multi-family collateralized debt obligations | Fair Value, Measurements, Recurring    
Liabilities carried at fair value    
Multi-family collateralized debt obligations $ 6,957,293 $ 6,818,901
[1] Includes investments in unconsolidated entities accounted for under the fair value option with a carrying value of $65.8 million and $67.6 million at March 31, 2016 and December 31, 2015, respectively.