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Investment in Securities (Summary of Investment in Securities) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Securities, Available-for-sale [Line Items]      
Current Principal $ 1,408,233 $ 2,282,149  
Unamortized Premium (Discount) (196,118) (150,821)  
Amortized Cost 1,474,155 2,342,369  
Gross Unrealized Gains 60,617 43,801  
Gross Unrealized Losses (59,229) (9,638)  
Investment Owned At Fair Value, Net 1,475,543 2,376,532  
Securities, at fair value(1)(2) [1],[2] 1,514,185 2,449,941  
Securities sold short, at fair value $ (38,642) $ (73,409) $ (850,577)
Fair Value     $ 2,939,311
Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.92% 4.23%  
Weighted Average Yield 4.77% 4.01%  
Weighted average life 4 years 5 months 26 days 5 years 10 months 24 days  
Long      
Securities, Available-for-sale [Line Items]      
Current Principal $ 1,446,237 $ 2,355,498  
Unamortized Premium (Discount) (199,280) (151,329)  
Amortized Cost 1,508,997 2,415,210  
Gross Unrealized Gains 60,617 43,738  
Gross Unrealized Losses (55,429) (9,007)  
Securities, at fair value(1)(2) $ 1,514,185 $ 2,449,941  
Long | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.84% 4.15%  
Weighted Average Yield 4.88% 4.09%  
Weighted average life 4 years 5 months 12 days 5 years 10 months 17 days  
Long | 15-year fixed-rate mortgages      
Securities, Available-for-sale [Line Items]      
Current Principal $ 67,875 $ 314,636  
Unamortized Premium (Discount) 2,543 6,369  
Amortized Cost 70,418 321,005  
Gross Unrealized Gains 1,832 2,604  
Gross Unrealized Losses (36) (203)  
Securities, at fair value(1)(2) $ 72,214 $ 323,406  
Long | 15-year fixed-rate mortgages | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.30% 3.05%  
Weighted Average Yield 1.83% 2.28%  
Weighted average life 3 years 2 months 26 days 3 years 18 days  
Long | 20-year fixed-rate mortgages      
Securities, Available-for-sale [Line Items]      
Current Principal $ 50,131 $ 804  
Unamortized Premium (Discount) 3,097 49  
Amortized Cost 53,228 853  
Gross Unrealized Gains 182 24  
Gross Unrealized Losses 0 0  
Securities, at fair value(1)(2) $ 53,410 $ 877  
Long | 20-year fixed-rate mortgages | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 2.57% 4.62%  
Weighted Average Yield 1.08% 2.99%  
Weighted average life 4 years 5 months 15 days 4 years 9 months 18 days  
Long | 30-year fixed-rate mortgages      
Securities, Available-for-sale [Line Items]      
Current Principal $ 626,021 $ 1,358,762  
Unamortized Premium (Discount) 30,738 64,846  
Amortized Cost 656,759 1,423,608  
Gross Unrealized Gains 25,765 13,821  
Gross Unrealized Losses (444) (2,830)  
Securities, at fair value(1)(2) $ 682,080 $ 1,434,599  
Long | 30-year fixed-rate mortgages | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.99% 4.20%  
Weighted Average Yield 2.35% 2.95%  
Weighted average life 4 years 2 months 1 day 6 years 7 months 17 days  
Long | Adjustable rate mortgages      
Securities, Available-for-sale [Line Items]      
Current Principal $ 6,171 $ 9,651  
Unamortized Premium (Discount) 159 315  
Amortized Cost 6,330 9,966  
Gross Unrealized Gains 124 90  
Gross Unrealized Losses 0 (54)  
Securities, at fair value(1)(2) $ 6,454 $ 10,002  
Long | Adjustable rate mortgages | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.66% 3.99%  
Weighted Average Yield 2.27% 2.03%  
Weighted average life 3 years 5 months 1 day 4 years 1 month 2 days  
Long | Reverse mortgages      
Securities, Available-for-sale [Line Items]      
Current Principal $ 89,383 $ 122,670  
Unamortized Premium (Discount) 5,152 8,133  
Amortized Cost 94,535 130,803  
Gross Unrealized Gains 3,123 2,023  
Gross Unrealized Losses (29) (26)  
Securities, at fair value(1)(2) $ 97,629 $ 132,800  
Long | Reverse mortgages | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.97% 4.43%  
Weighted Average Yield 2.37% 2.78%  
Weighted average life 4 years 7 months 6 days 6 years 8 months 1 day  
Long | Interest only securities      
Securities, Available-for-sale [Line Items]      
Amortized Cost $ 43,406 $ 34,044  
Gross Unrealized Gains 5,808 1,624  
Gross Unrealized Losses (1,558) (389)  
Securities, at fair value(1)(2) $ 47,656 $ 35,279  
Long | Interest only securities | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.36% 2.81%  
Weighted Average Yield 10.01% 9.27%  
Weighted average life 4 years 10 months 6 days 3 years 10 months 9 days  
Long | Non-Agency RMBS      
Securities, Available-for-sale [Line Items]      
Current Principal $ 321,842 $ 274,353  
Unamortized Premium (Discount) (131,083) (122,685)  
Amortized Cost 190,759 151,668  
Gross Unrealized Gains 15,880 12,549  
Gross Unrealized Losses (5,549) (1,081)  
Securities, at fair value(1)(2) $ 201,090 $ 163,136  
Long | Non-Agency RMBS | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.15% 3.41%  
Weighted Average Yield 6.40% 7.25%  
Weighted average life 5 years 5 months 15 days 5 years 3 months 21 days  
Long | CMBS      
Securities, Available-for-sale [Line Items]      
Current Principal $ 188,085 $ 185,417  
Unamortized Premium (Discount) (61,763) (67,961)  
Amortized Cost 126,322 117,456  
Gross Unrealized Gains 1,655 2,990  
Gross Unrealized Losses (16,910) (480)  
Securities, at fair value(1)(2) $ 111,067 $ 119,966  
Long | CMBS | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 2.71% 3.31%  
Weighted Average Yield 7.47% 6.62%  
Weighted average life 8 years 1 month 2 days 8 years 11 months 8 days  
Long | Non-Agency IOs      
Securities, Available-for-sale [Line Items]      
Amortized Cost $ 8,123 $ 6,517  
Gross Unrealized Gains 1,792 1,817  
Gross Unrealized Losses (305) (18)  
Securities, at fair value(1)(2) $ 9,610 $ 8,316  
Long | Non-Agency IOs | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 1.17% 1.10%  
Weighted Average Yield 18.85% 8.18%  
Weighted average life 3 years 5 months 26 days 4 years 1 month 20 days  
Long | CLOs      
Securities, Available-for-sale [Line Items]      
Amortized Cost $ 208,907 $ 169,238  
Gross Unrealized Gains 2,563 4,219  
Gross Unrealized Losses (30,199) (3,014)  
Securities, at fair value(1)(2) $ 181,271 $ 170,443  
Long | CLOs | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 3.67% 5.05%  
Weighted Average Yield 8.50% 9.62%  
Weighted average life 3 years 6 months 4 years 9 months  
Long | Asset-backed securities, backed by consumer loans      
Securities, Available-for-sale [Line Items]      
Current Principal $ 69,646 $ 67,080  
Unamortized Premium (Discount) (24,936) (19,154)  
Amortized Cost 44,710 47,926  
Gross Unrealized Gains 221 1,596  
Gross Unrealized Losses (6) (912)  
Securities, at fair value(1)(2) $ 44,925 $ 48,610  
Long | Asset-backed securities, backed by consumer loans | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 11.95% 12.17%  
Weighted Average Yield 18.57% 14.00%  
Weighted average life 1 year 1 month 9 days 1 year 2 months 19 days  
Long | Corporate debt securities      
Securities, Available-for-sale [Line Items]      
Current Principal $ 27,083 $ 22,125  
Unamortized Premium (Discount) (23,187) (21,241)  
Amortized Cost 3,896 884  
Gross Unrealized Gains 1,296 229  
Gross Unrealized Losses (3) 0  
Securities, at fair value(1)(2) $ 5,189 $ 1,113  
Long | Corporate debt securities | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 2.13% 0.00%  
Weighted Average Yield 6.75% 0.00%  
Weighted average life 3 years 1 month 6 days 3 months 29 days  
Long | Corporate equity securities      
Securities, Available-for-sale [Line Items]      
Amortized Cost $ 1,604 $ 1,242  
Securities, at fair value(1)(2) 1,590 1,394  
Corporate equity, gross unrealized gains 376 152  
Corporate equity, gross unrealized losses (390) 0  
Short      
Securities, Available-for-sale [Line Items]      
Current Principal (38,004) (73,349)  
Unamortized Premium (Discount) 3,162 508  
Investment Sold, Not yet Purchased, Sale Proceeds (34,842) (72,841)  
Gross Unrealized Gains 0 63  
Gross Unrealized Losses (3,800) (631)  
Securities sold short, at fair value $ (38,642) $ (73,409)  
Short | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 0.26% 1.65%  
Weighted Average Yield 0.09% 1.66%  
Weighted average life 3 years 1 month 17 days 5 years 5 months 26 days  
Short | Corporate debt securities      
Securities, Available-for-sale [Line Items]      
Current Principal $ (200) $ (450)  
Unamortized Premium (Discount) (1) (6)  
Investment Sold, Not yet Purchased, Sale Proceeds (201) (456)  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses (17) (15)  
Securities sold short, at fair value $ (218) $ (471)  
Short | Corporate debt securities | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 5.09% 5.44%  
Weighted Average Yield 4.67% 5.21%  
Weighted average life 6 years 5 months 1 day 4 years 10 months 24 days  
Short | U.S. Treasury securities      
Securities, Available-for-sale [Line Items]      
Current Principal   $ (63,140)  
Unamortized Premium (Discount)   381  
Investment Sold, Not yet Purchased, Sale Proceeds   (62,759)  
Gross Unrealized Gains   63  
Gross Unrealized Losses   (298)  
Securities sold short, at fair value   $ (62,994)  
Short | U.S. Treasury securities | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon   1.76%  
Weighted Average Yield   1.87%  
Weighted average life   6 years 1 month 9 days  
Short | European sovereign bonds      
Securities, Available-for-sale [Line Items]      
Current Principal $ (37,804) $ (9,759)  
Unamortized Premium (Discount) 3,163 133  
Investment Sold, Not yet Purchased, Sale Proceeds (34,641) (9,626)  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses (3,783) (318)  
Securities sold short, at fair value $ (38,424) $ (9,944)  
Short | European sovereign bonds | Weighted Average      
Securities, Available-for-sale [Line Items]      
Weighted Average Coupon 0.23% 0.77%  
Weighted Average Yield 0.06% 0.12%  
Weighted average life 3 years 1 month 9 days 1 year 6 months 29 days  
[1] Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.
[2] Includes assets pledged as collateral to counterparties. See Note 11 for additional details on the Company's borrowings and related collateral.