Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net income	$ 248,910	$ 86,692
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred financing costs, premiums and discounts on secured borrowings	21,265	19,552
Amortization of discounts and deferred financing costs on unsecured senior notes	3,451	3,938
Accretion of net discount on investment securities	(6,773)	(6,123)
Accretion of net deferred loan fees and discounts	(29,739)	(20,840)
Share-based compensation	19,907	16,144
Manager fees paid in stock	14,048	36,046
Change in fair value of investment securities	(1,202)	(3,331)
Change in fair value of consolidated VIEs	19,024	62,175
Change in fair value of servicing rights	(503)	2,962
Change in fair value of loans	(36,389)	(18,316)
Change in fair value of derivatives	(26,289)	10,531
Foreign currency loss, net	9,054	27,313
Gain on sale of investments and other assets	(26,424)	(6,768)
Credit loss provision, net	(11,800)	58,871
Depreciation and amortization	45,134	47,137
Earnings from unconsolidated entities	(3,960)	(28,873)
Distributions of earnings from unconsolidated entities	1,082	888
Loss on extinguishment of debt	1,698	2,377
Origination and purchase of loans held-for-sale, net of principal collections	(1,284,620)	(740,649)
Proceeds from sale of loans held-for-sale	1,477,579	1,340,833
Changes in operating assets and liabilities:
Related-party payable, net	(12,739)	(19,984)
Accrued and capitalized interest receivable, less purchased interest	(81,392)	(80,702)
Other assets	(32,132)	(16,372)
Accounts payable, accrued expenses and other liabilities	(19,203)	(3,763)
Net cash provided by operating activities	287,987	769,738
Cash Flows from Investing Activities:
Origination, purchase and funding of loans held-for-investment	(4,002,046)	(1,666,903)
Proceeds from principal collections on loans	2,244,935	999,254
Proceeds from loans sold	231,993	435,097
Purchase and funding of investment securities	0	(16,120)
Proceeds from sales of investment securities	0	7,940
Proceeds from principal collections on investment securities	68,867	50,479
Proceeds from sales of real estate	60,969	23,805
Purchases and additions to properties and other assets	(12,023)	(13,914)
Investment in unconsolidated entities	0	(3,130)
Proceeds from sale of interest in unconsolidated entities	0	10,313
Distribution of capital from unconsolidated entities	21,263	206
Payments for purchase or termination of derivatives	(8,111)	(80,911)
Proceeds from termination of derivatives	28,419	13,128
Net cash used in investing activities	(1,365,734)	(240,756)
Cash Flows from Financing Activities:
Proceeds from borrowings	6,793,363	3,686,932
Principal repayments on and repurchases of borrowings	(5,538,664)	(3,716,558)
Payment of deferred financing costs	(27,172)	(7,564)
Proceeds from common stock issuances	488	369
Payment of equity offering costs	(22)	(15)
Payment of dividends	(276,051)	(271,624)
Contributions from non-controlling interests	5,538	9,406
Distributions to non-controlling interests	(17,977)	(76,514)
Purchase of treasury stock	0	(28,830)
Issuance of debt of consolidated VIEs	42,288	24,376
Repayment of debt of consolidated VIEs	(306,496)	(236,336)
Distributions of cash from consolidated VIEs	42,546	36,989
Net cash provided by (used in) financing activities	717,841	(579,369)
Net decrease in cash, cash equivalents and restricted cash	(359,906)	(50,387)
Cash, cash equivalents and restricted cash, beginning of period	722,162	574,031
Effect of exchange rate changes on cash	(1,680)	487
Cash, cash equivalents and restricted cash, end of period	360,576	524,131
Supplemental disclosure of cash flow information:
Cash paid for interest	183,016	202,648
Income taxes paid	6,871	657
Supplemental disclosure of non-cash investing and financing activities:
Dividends declared, but not yet paid	139,985	137,242
Consolidation of VIEs (VIE asset/liability additions)	2,778,279	3,077,357
Reclassification of loans held-for-investment to loans held-for-sale	190,799	422,691
Reclassification of loans held-for-sale to loans held-for-investment	124,933	0
Transfer of loans from VIE assets residential loans upon redemption of a consolidated RMBS trust	172,474	0
Loan principal collections temporarily held at master servicer	56,064	12,274
Net assets acquired through conversion to equity interest and foreclosure	36,308	0
Redemption of Class A Units for common stock	$ 8,116	$ 8,538