Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles our GAAP net income (loss) to estimated REIT taxable income (loss) for the years ended December 31, 2021, December 31, 2020 and December 31, 2019.

	For the Years Ended
	December 31, 2021		December 31, 2020		December 31, 2019
GAAP net income (loss)	$	15,363	$	(215,112)	$	(249,905)
Book to tax differences:
TRS (income) loss	37		(51)		(147)
Premium amortization expense	(148)		(261)		—
Agency Securities, trading	77,145		(19,557)		—
Credit Risk and Non-Agency Securities	—		188,075		24,459
Interest-Only Securities	—		—		85
U.S. Treasury Securities	9,391		(21,357)		(2,024)
Changes in interest rate contracts	(77,300)		268,159		375,493
(Gain) Loss on Security sales	(10,952)		(143,877)		(9,611)
Credit loss expense	—		1,012		—
Amortization of deferred hedging costs	(163,837)		(152,092)		(69,302)
Series A Cumulative Preferred Stock dividend- Called for redemption	—		—		375
Series B Cumulative Preferred Stock dividend- Called for redemption	—		1,375		—
Other	1,830		1,544		18
Estimated REIT taxable income (loss)	$	(148,471)	$	(92,142)	$	69,441

Schedule of Tax Credit Carryforwards

Net capital losses realized	Amount	Available to offset capital gains though
2018	(136,388)	2023
2019	(13,819)	2024
2021	(9,012)	2026