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Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Assets at Fair Value:      
Agency Securities $ 11,941,766 $ 7,051,954  
Securities, trading, at fair value 883,601 939,184  
Derivatives, at fair value 24,751 111,913  
Liabilities at Fair Value:      
Derivatives, at fair value 71,974 24,505  
Fair Value, Measurements, Recurring      
Assets at Fair Value:      
Agency Securities 11,941,766 7,051,954  
Derivatives, at fair value 24,751 111,913  
Liabilities at Fair Value:      
Derivatives, at fair value 71,974 24,505  
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Assets at Fair Value:      
Agency Securities 0 0  
Derivatives, at fair value 0 0  
Liabilities at Fair Value:      
Derivatives, at fair value 0 0  
Fair Value, Measurements, Recurring | Significant Observable Inputs (Level 2)      
Assets at Fair Value:      
Agency Securities 11,941,766 7,051,954  
Derivatives, at fair value 24,751 111,913  
Liabilities at Fair Value:      
Derivatives, at fair value 71,974 24,505  
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3      
Assets at Fair Value:      
Agency Securities 0 0  
Derivatives, at fair value 0 0  
Liabilities at Fair Value:      
Derivatives, at fair value 0 0  
Credit Risk and Non-Agency Securities      
Assets at Fair Value:      
Securities, trading, at fair value 883,601 819,915 $ 975,830
Credit Risk and Non-Agency Securities | Fair Value, Measurements, Recurring      
Assets at Fair Value:      
Securities, trading, at fair value 883,601 819,915  
Credit Risk and Non-Agency Securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Assets at Fair Value:      
Securities, trading, at fair value 0 0  
Credit Risk and Non-Agency Securities | Fair Value, Measurements, Recurring | Significant Observable Inputs (Level 2)      
Assets at Fair Value:      
Securities, trading, at fair value 883,601 819,915  
Credit Risk and Non-Agency Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3      
Assets at Fair Value:      
Securities, trading, at fair value 0 0  
Interest-Only Securities      
Assets at Fair Value:      
Securities, trading, at fair value 0 20,623 25,752
Interest-Only Securities | Fair Value, Measurements, Recurring      
Assets at Fair Value:      
Securities, trading, at fair value   20,623  
Interest-Only Securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Assets at Fair Value:      
Securities, trading, at fair value   0  
Interest-Only Securities | Fair Value, Measurements, Recurring | Significant Observable Inputs (Level 2)      
Assets at Fair Value:      
Securities, trading, at fair value   20,623  
Interest-Only Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3      
Assets at Fair Value:      
Securities, trading, at fair value   0  
U.S. Treasury Securities      
Assets at Fair Value:      
Securities, trading, at fair value $ 0 98,646 $ 0
U.S. Treasury Securities | Fair Value, Measurements, Recurring      
Assets at Fair Value:      
Securities, trading, at fair value   98,646  
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Assets at Fair Value:      
Securities, trading, at fair value   98,646  
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Significant Observable Inputs (Level 2)      
Assets at Fair Value:      
Securities, trading, at fair value   0  
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3      
Assets at Fair Value:      
Securities, trading, at fair value   $ 0