CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020		Jun. 30, 2021		Jun. 30, 2020
Net interest income:
Interest income	[1]	$ 252,677	$ 245,922		$ 495,805		$ 546,189
Interest expense	[1]	80,610	129,256	[2]	188,677	[2]	271,339	[2]
Net interest income		172,067	116,666		307,128		274,850
Increase/(decrease) in provision for credit losses		453	(4,497)		327		1,817
Other investment gains (losses):
Net unrealized gains (losses) on derivatives		0	0		0		201,000
Realized gains (losses) on terminations of interest rate swaps		0	0		0		(463,966)
Net realized gains (losses) on derivatives		0	0		0		(41,086)
Net gains (losses) on derivatives		0	0		0		(304,052)
Net unrealized gains (losses) on financial instruments at fair value		36,108	(171,921)		306,120		(432,809)
Net realized gains (losses) on sales of investments		7,517	26,380		45,313		102,234
Gains (losses) on extinguishment of debt		(21,777)	459		(258,914)		459
Total other gains (losses)		21,848	(145,082)		92,519		(634,168)
Other expenses:
Compensation and benefits		9,230	10,255		22,669		23,190
General and administrative expenses		6,173	5,963		11,371		11,100
Servicing and asset manager fees		9,081	10,072		18,362		20,601
Transaction expenses		5,745	4,710		22,182		9,616
Total other expenses		30,229	31,000		74,584		64,507
Income (loss) before income taxes		163,233	(54,919)		324,736		(425,642)
Income tax expense (benefit)		(88)	36		3,824		68
Net income (loss)		163,321	(54,955)		320,912		(425,710)
Dividends on preferred stock		18,438	18,438		36,875		36,875
Net income (loss) available to common shareholders		$ 144,883	$ (73,393)		$ 284,037		$ (462,585)
Net income (loss) per share available to common shareholders:
Basic (usd per share)		$ 0.63	$ (0.37)		$ 1.23		$ (2.39)
Diluted (usd per share)		$ 0.60	$ (0.37)		$ 1.14		$ (2.39)
Weighted average number of common shares outstanding:
Basic (shares)		231,638,042	199,282,790		231,105,595		193,150,696
Diluted (shares)		241,739,536	199,282,790		251,723,940		193,150,696

[1] Includes interest income of consolidated VIEs of $149,115 and $169,127 for the quarters ended June 30, 2021 and 2020, respectively, and $307,214 and $343,809 for the six months ended June 30, 2021 and 2020, respectively. See Note 9 to consolidated financial statements for further discussion.

[2] Includes interest expense of consolidated VIEs of $50,935 and $70,816 for the quarters ended June 30, 2021 and 2020, respectively, and $116,141 and $135,445 for the six months ended June 30, 2021 and 2020, respectively. See Note 9 to consolidated financial statements for further discussion.