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Mortgage-Backed Securities and other securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Summary of certain information about the Company's investment portfolio The following tables present certain information about the Company's investment portfolio at December 31, 2021 and December 31, 2020 (dollars in thousands):
 December 31, 2021
 Principal
Balance		Unamortized
Premium
(Discount),
net		Amortized
Cost		Unrealized
Gain 		Unrealized LossEstimated
Fair Value
Net
Weighted
Average
Coupon(4)
Agency RMBS Interest-Only Strips(1)
N/AN/A$59 $55 $— $114 1.3 %
Agency RMBS Interest-Only Strips, accounted for as derivatives(1)(2)
N/AN/AN/AN/AN/A1,058 1.3 %
Total Agency MBS— — 59 55 — 1,172 1.3 %
Non-Agency RMBS36,147 (13,936)22,211 3,476 (35)25,652 4.3 %
Non-Agency RMBS Interest- Only Strips(1)
N/A N/A 5,608 — (3,491)2,117 0.3 %
Subtotal Non-Agency RMBS36,147 (13,936)27,819 3,476 (3,526)27,769 1.0 %
Non-Agency CMBS179,619 (13,088)166,531 1,543 (62,716)105,358 5.4 %
Total Non-Agency MBS215,766 (27,024)194,350 5,019 (66,242)133,127 3.0 %
Other securities(3)
51,159 (8,229)47,652 4,209 (213)51,648 5.6 %
Total$266,925 $(35,253)$242,061 $9,283 $(66,455)$185,947 3.2 %

 December 31, 2020
 Principal
Balance		Unamortized
Premium
(Discount),
net		Amortized
Cost		Unrealized GainUnrealized
Loss		Estimated
Fair Value
Net
Weighted
Average
Coupon(4)
Agency RMBS Interest-Only Strips(1)
N/AN/A$89 $54 $— $143 2.1 %
Agency RMBS Interest-Only Strips, accounted for as derivatives(1)(2)
N/AN/AN/AN/AN/A1,565 2.6 %
Total Agency MBS— — 89 54 — 1,708 2.5 %
Non-Agency RMBS38,112 (14,649)23,463 451 (2,498)21,416 1.6 %
Non-Agency RMBS Interest- Only Strips(1)
N/AN/A6,271 — (2,306)3,965 0.4 %
Subtotal Non-Agency RMBS38,112 (14,649)29,734 451 (4,804)25,381 0.6 %
Non-Agency CMBS235,497 (25,258)210,239 2,850 (49,008)164,081 5.0 %
Total Non-Agency MBS273,609 (39,907)239,973 3,301 (53,812)189,462 2.4 %
Other securities(3)
51,537 (8,239)49,420 1,152 (1,818)48,754 4.4 %
Total$325,146 $(48,146)$289,482 $4,507 $(55,630)$239,924 2.5 %

(1)IOs and IIOs have no principal balances and bear interest based on a notional balance. The notional balance is used solely to determine interest distributions on interest-only class of securities. At December 31, 2021, the notional balance for Agency RMBS IOs and IIOs, Non-Agency RMBS IOs and IIOs, and Agency RMBS IOs and IIOs, accounted for as derivatives was $2.9 million, $181.0 million and $16.8 million, respectively. At December 31, 2020, the notional balance for Agency RMBS IOs and IIOs, Non-Agency RMBS IOs and IIOs and Agency RMBS IOs and IIOs accounted for as derivatives was $3.7 million, $306.0 million and $21.6 million, respectively.
(2)Interest on these securities is reported as a component of "Gain (loss) on derivative instruments, net" in the Consolidated Statements of Operations.
(3)Other securities include residual interests in asset-backed securities which have no principal balance and an amortized cost of approximately $4.7 million and $6.1 million, as of December 31, 2021 and December 31, 2020, respectively.
(4)The calculation of the weighted average coupon rate includes the weighted average coupon rates of IOs and IIOs accounted for as derivatives using their notional amounts.
Schedule of changes in the components of purchase discount and amortizable premium on Non-Agency RMBS, Non-Agency CMBS and other securities The following table presents the changes in the components of the Company's purchase discount and amortizable premium on its Non-Agency RMBS, Non-Agency CMBS and other securities for the year ended December 31, 2019 (dollars in thousands):
 Discount Designated as
Credit Reserve and OTTI
Accretable Discount(1)
Amortizable Premium(1)
Balance at beginning of period$(53,523)$(29,465)$14,928 
Accretion of discount— 4,364 — 
Amortization of premium— — (1,215)
Realized credit losses7,290 — — 
Purchases(28)(7,953)819 
Sales26,706 — (19,640)
Net impairment losses recognized in earnings(6,612)— — 
Transfers/release of credit reserve(2)
(22,308)2,889 19,419 
Balance at end of period$(48,475)-48475000$(30,165)$14,311 

(1)Together with coupon interest, accretable purchase discount and amortizable premium is recognized as interest income over the life of the security.
(2)Subsequent reductions of a security's non-accretable discount results in a corresponding reduction in its amortizable premium.
Schedule of the fair value and contractual maturities of the Company's investment securities The following tables present the fair value and contractual maturities of the Company's investment securities at December 31, 2021 and December 31, 2020 (dollars in thousands):
 December 31, 2021
 < or equal to 10
years		> 10 years and < or
equal to 20 years		> 20 years and < or
equal to 30 years		> 30 yearsTotal
Agency RMBS Interest-Only Strips$— $— $114 $— $114 
Agency RMBS Interest-Only Strips, accounted for as derivatives— 1,058 — — 1,058 
Subtotal Agency— 1,058 114 — 1,172 
Non-Agency CMBS 66,384 17,644 21,171 159 105,358 
Non-Agency RMBS— — 10,282 15,370 25,652 
Non-Agency RMBS Interest-Only Strips— — 106 2,011 2,117 
Subtotal Non-Agency66,384 17,644 31,559 17,540 133,127 
Other securities9,255 4,266 25,653 12,474 51,648 
Total$75,639 $22,968 $57,326 $30,014 $185,947 
 December 31, 2020
 < or equal to 10
years		> 10 years and < or
equal to 20 years		> 20 years and < or
equal to 30 years		> 30 yearsTotal
Agency RMBS Interest-Only Strips$— $— $143 $— $143 
Agency RMBS Interest-Only Strips, accounted for as derivatives— 1,565 — — 1,565 
Subtotal Agency— 1,565 143 — 1,708 
Non-Agency CMBS 59,724 50,408 53,269 680 164,081 
Non-Agency RMBS— — 7,958 13,458 21,416 
Non-Agency RMBS Interest-Only Strips— — 472 3,493 3,965 
Subtotal Non-Agency59,724 50,408 61,699 17,631 189,462 
Other securities7,247 6,203 24,610 10,694 48,754 
Total$66,971 $58,176 $86,452 $28,325 $239,924 
Schedule of gross unrealized losses and estimated fair value of the Company's MBS and other securities by length of time that such securities have been in a continuous unrealized loss position The following tables present the gross unrealized losses and estimated fair value of the Company's MBS and other securities by length of time that such securities have been in a continuous unrealized loss position at December 31, 2021 and December 31, 2020 (dollars in thousands):
 December 31, 2021
 Less than 12 Months12 Months or MoreTotal
 Fair ValueUnrealized
Losses		Number
of
Securities		Fair ValueUnrealized
Losses		Number
of
Securities		Fair ValueUnrealized
Losses		Number
of
Securities
Non-Agency CMBS$— $— — $96,080 $(62,716)16 $96,080 $(62,716)16 
Non-Agency RMBS— — — 201 (35)1 201 (35)1 
Non-Agency RMBS Interest-Only Strips— — — 2,117 (3,491)4 2,117 (3,491)4 
Subtotal Non-Agency— — — 98,398 (66,242)21 98,398 (66,242)21 
Other securities— — — 9,022 (213)4 9,022 (213)4 
Total$— $— — $107,420 $(66,455)25 $107,420 $(66,455)25 

 December 31, 2020
 Less than 12 Months12 Months or MoreTotal
 Fair ValueUnrealized
Losses		Number
of
Securities		Fair ValueUnrealized
Losses		Number
of
Securities		Fair ValueUnrealized
Losses		Number
of
Securities
Non-Agency CMBS$102,935 $(33,602)16 $50,887 $(15,406)15 $153,822 $(49,008)31 
Non-Agency RMBS18,242 (2,498)4 — — — 18,242 (2,498)4 
Non-Agency RMBS Interest-Only Strips3,492 (790)3 472 (1,516)1 3,964 (2,306)4 
Subtotal Non-Agency124,669 (36,890)23 51,359 (16,922)16 176,028 (53,812)39 
Other securities26,365 (1,818)6 — — — 26,365 (1,818)6 
Total$151,034 $(38,708)29 $51,359 $(16,922)16 $202,393 $(55,630)45 
Schedule of other-than-temporary impairments the Company recorded on its securities portfolio The following table presents the OTTI the Company recorded on its securities portfolio prior to the adoption of CECL (dollars in thousands):
 For the year ended December 31, 2019
Agency RMBS(1)
$74 
Non-Agency RMBS1,331 
Non-Agency CMBS6,565 
Other securities604 
Total$8,574 

(1)     Other-than-temporary impairment on Agency RMBS includes impairments on Agency RMBS IOs and unrealized loss on Agency RMBS securities that the Company had the intent to sell at the end of the period, if applicable.
Summary of the components of interest income on the Company's MBS and other securities The following table presents components of interest income on the Company's MBS and other securities for the three years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively (dollars in thousands):
 For the year ended December 31, 2021For the year ended December 31, 2020For the year ended December 31, 2019
 Coupon
Interest		Net (Premium
Amortization/
Amortization
Basis)
Discount
Amortization		Interest
Income		Coupon
Interest		Net (Premium
Amortization/
Amortization
Basis)
Discount
Amortization		Interest
Income		Coupon
Interest		Net (Premium
Amortization/
Amortization
Basis)
Discount
Amortization		Interest
Income
Agency CMBS$— $— $— $11,336 $(636)$10,700 $51,286 $(2,327)$48,959 
Agency RMBS47 (30)17 2,975 (987)1,988 12,181 (3,053)9,128 
Non-Agency CMBS9,874 6,535 16,409 15,331 6,467 21,798 14,178 4,017 18,195 
Non-Agency RMBS2,127 (670)1,457 2,732 (1,193)1,539 4,682 (2,214)2,468 
Other securities4,685 (1,574)3,111 8,263 (4,781)3,482 11,633 (6,472)5,161 
Total$16,733 $4,261 $20,994 $40,637 $(1,130)$39,507 $93,960 $(10,049)$83,911 
Schedule of sales and realized gains (loss) of the Company's MBS and other securities The following tables present the sales and realized gains (losses) of the Company's MBS and other securities for the three years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively (dollars in thousands):
 For the year ended December 31, 2021
 ProceedsGross
Gains		Gross
Losses		Net
Gain (Loss)
Non-Agency CMBS$27,488 $— $(9,266)$(9,266)
Total$27,488 $— $(9,266)$(9,266)

 For the year ended December 31, 2020
 ProceedsGross
Gains		Gross
Losses		Net
Gain (Loss)
Agency CMBS$1,668,149 $116,463 $(6,486)$109,977 
Agency RMBS400,948 12,552 (506)12,046 
Non-Agency CMBS111,804 1 (23,624)(23,623)
Non-Agency RMBS12,658 — (60)(60)
Other securities35,957 113 (6,223)(6,110)
Total$2,229,516 $129,129 $(36,899)$92,230 
 For the year ended December 31, 2019
 ProceedsGross
Gains		Gross
Losses		Net
Gain (Loss)
Agency CMBS891,072 32,793 (4,190)28,603 
Agency RMBS$205,310 $1,559 $— $1,559 
Non-Agency CMBS40,235 317 (1,624)(1,307)
Total$1,136,617 $34,669 $(5,814)$28,855