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Fair Value Measurements - Level of Fair Value (Detail) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets:    
Non-Agency RMBS, at fair value (net of allowance for credit losses of $6 million and $0 million, respectively) $ 2,174,400 $ 2,614,408
Agency RMBS, at fair value 105,644 6,490,293
Agency CMBS, at fair value 2,832,716 2,850,717
Loans held for investment, at fair value 13,306,818 14,292,815
Derivatives, at fair value, net 0 3,611
Liabilities:    
Securitized debt at fair value, collateralized by loans held for investment 7,864,196 8,179,608
Net Amounts Offset in the Consolidated Statements of Financial Position 0 0
Fair Value, Measurements, Recurring    
Assets:    
Non-Agency RMBS, at fair value (net of allowance for credit losses of $6 million and $0 million, respectively) 2,174,400 2,614,408
Agency RMBS, at fair value 105,644 6,490,293
Agency CMBS, at fair value 2,832,716  
Loans held for investment, at fair value 13,306,818 14,292,815
Counterparty and Cash Collateral, netting 0 (1,092)
Derivatives, at fair value, net 0 3,611
Liabilities:    
Securitized debt at fair value, collateralized by loans held for investment 7,864,196 8,179,608
Counterparty and Cash Collateral, netting 0 (205,703)
Net Amounts Offset in the Consolidated Statements of Financial Position 0 0
Fair Value, Measurements, Recurring | Level 1    
Assets:    
Non-Agency RMBS, at fair value (net of allowance for credit losses of $6 million and $0 million, respectively) 0 0
Agency RMBS, at fair value 0 0
Agency CMBS, at fair value 0 0
Loans held for investment, at fair value 0 0
Derivatives 0 3,611
Liabilities:    
Securitized debt at fair value, collateralized by loans held for investment 0 0
Derivatives 0 0
Fair Value, Measurements, Recurring | Level 2    
Assets:    
Non-Agency RMBS, at fair value (net of allowance for credit losses of $6 million and $0 million, respectively) 135,118 0
Agency RMBS, at fair value 105,644 6,490,293
Agency CMBS, at fair value 2,832,716 2,850,717
Loans held for investment, at fair value 0 0
Derivatives 0 1,092
Liabilities:    
Securitized debt at fair value, collateralized by loans held for investment 0 0
Derivatives 0 205,703
Fair Value, Measurements, Recurring | Level 3    
Assets:    
Non-Agency RMBS, at fair value (net of allowance for credit losses of $6 million and $0 million, respectively) 2,039,282 2,614,408
Agency RMBS, at fair value 0 0
Agency CMBS, at fair value 0 0
Loans held for investment, at fair value 13,306,818 14,292,815
Derivatives 0 0
Liabilities:    
Securitized debt at fair value, collateralized by loans held for investment 7,864,196 8,179,608
Derivatives $ 0 $ 0