CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows From Operating Activities:
Net income	$ (370,755)	$ 118,147
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Accretion) amortization of investment discounts/premiums, net	36,319	6,030
Accretion (amortization) of deferred financing costs and securitized debt discounts/premiums, net	(18,318)	(5,955)
Amortization of swaption premium	0	160
Net unrealized losses (gains) on derivatives	(201,000)	89,315
Margin (paid) received on derivatives	325,594	(98,565)
Net unrealized losses (gains) on financial instruments at fair value	260,887	(200,812)
Net realized losses (gains) on sales of investments	(75,854)	(8,603)
Net provision for credit losses	6,314	0
Net other-than-temporary credit impairment losses	0	4,853
(Gain) loss on extinguishment of debt	0	0
Equity-based compensation expense	1,143	2,682
Changes in operating assets:
Decrease (increase) in accrued interest receivable, net	23,763	(662)
Decrease (increase) in other assets	(394,817)	1,025
Changes in operating liabilities:
Increase (decrease) in accounts payable and other liabilities	6,417	15,655
Increase (decrease) in accrued interest payable, net	(19,156)	14,554
Net cash provided by (used in) operating activities	(419,463)	(62,176)
Cash Flows From Investing Activities:
Net cash provided by (used in) investing activities	6,645,540	(880,810)
Cash Flows From Financing Activities:
Proceeds from repurchase agreements	38,210,544	25,994,053
Payments on repurchase agreements	(44,491,093)	(24,700,865)
Net proceeds from preferred stock offerings	0	193,368
Payments on repurchase of common stock	(22,066)	0
Proceeds from securitized debt borrowings, collateralized by loans held for investment	731,013	0
Payments on securitized debt borrowings, collateralized by loans held for investment	(386,362)	(354,361)
Payments on securitized debt borrowings, collateralized by Non-Agency RMBS	(4,449)	(5,905)
Common dividends paid	(93,613)	(93,526)
Preferred dividends paid	(18,438)	(14,414)
Net cash provided by (used in) financing activities	(6,074,464)	1,018,350
Net increase (decrease) in cash and cash equivalents	151,613	75,364
Cash and cash equivalents at beginning of period	109,878	47,486
Cash and cash equivalents at end of period	261,491	122,850
Supplemental disclosure of cash flow information:
Interest received	359,664	357,111
Interest paid	178,292	194,549
Non-cash investing activities:
Payable for investments purchased	699,164	1,513,657
Receivable for investments sold	0	1,414,478
Net change in unrealized gain (loss) on available-for sale securities	(205,845)	46,156
Retained beneficial interests	0	40,825
Non-cash financing activities:
Dividends declared, not yet paid	98,434	99,050
Agency MBS portfolio
Cash Flows From Investing Activities:
Purchases	(160,516)	(1,379,467)
Sales	6,244,850	91,731
Principal payments	593,341	215,403
Non-agency RMBS Portfolio
Cash Flows From Investing Activities:
Purchases	(19,503)	(112,778)
Sales	33,797	4,394
Principal payments	67,518	78,689
Loans held for investment
Cash Flows From Investing Activities:
Sales	0	358,175
Principal payments	461,594	375,087
Purchases	$ (575,541)	$ (512,044)