CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net interest income:
Interest income	[1]	$ 220,579	$ 247,905	$ 716,384	$ 794,094
Interest expense	[2]	71,353	124,557	260,029	395,897
Net interest income		149,226	123,348	456,355	398,197
Increase/(decrease) in provision for credit losses		(386)	(1,650)	(58)	167
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		239,524	260,766	545,643	(172,042)
Net realized gains (losses) on sales of investments		0	65,041	45,313	167,275
Gains (losses) on extinguishment of debt		(25,622)	(55,794)	(284,535)	(55,338)
Total other gains (losses)		213,902	270,013	306,421	(364,157)
Other expenses:
Compensation and benefits		12,694	10,287	35,363	33,476
General and administrative expenses		5,300	6,236	16,672	17,335
Servicing and asset manager fees		9,297	9,473	27,659	30,074
Transaction expenses		3,432	1,624	25,614	11,239
Total other expenses		30,723	27,620	105,308	92,124
Income (loss) before income taxes		332,791	367,391	657,526	(58,251)
Income tax expense (benefit)		1,323	62	5,146	130
Net income (loss)		331,468	367,329	652,380	(58,381)
Dividends on preferred stock		18,438	18,438	55,313	55,313
Net income (loss) available to common shareholders		$ 313,030	$ 348,891	$ 597,067	$ (113,694)
Net income (loss) per share available to common shareholders:
Basic (usd per share)		$ 1.33	$ 1.50	$ 2.57	$ (0.55)
Diluted (usd per share)		$ 1.30	$ 1.32	$ 2.42	$ (0.55)
Weighted average number of common shares outstanding:
Basic (shares)		235,887,296	232,127,224	232,717,010	206,237,705
Diluted (shares)		240,362,602	265,346,359	247,358,823	206,237,705

[1] Includes interest income of consolidated VIEs of $138,984 and $171,442 for the quarters ended September 30, 2021 and 2020, respectively, and $446,198 and $515,250 for the nine months ended September 30, 2021 and 2020, respectively. See Note 9 to consolidated financial statements for further discussion.

[2] Includes interest expense of consolidated VIEs of $43,525 and $74,753 for the quarters ended September 30, 2021 and 2020, respectively, and $159,666 and $210,198 for the nine months ended September 30, 2021 and 2020, respectively. See Note 9 to consolidated financial statements for further discussion.