Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (258,453)	$ (64,760)	$ 2,128
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Stock based compensation	685	772	244
Realized losses on mortgage-backed securities	133,695	5,542	24,986
Unrealized losses (gains) on mortgage-backed securities and U.S. Treasury Notes	642,710	198,454	(25,761)
Changes in operating assets and liabilities:
Accrued interest receivable	7,340	(9,138)	2,683
Other assets	(128)	196	(446)
Accrued interest payable	8,421	(369)	(9,944)
Other liabilities	454	663	2,583
Due to affiliates	69	430	10
NET CASH PROVIDED BY OPERATING ACTIVITIES	289,372	96,440	55,374
CASH FLOWS FROM INVESTING ACTIVITIES:
Net proceeds from reverse repurchase agreements	0	0	30
Net proceeds from (payments on) derivative instruments	245,335	8,571	(64,171)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	2,440,822	(3,016,800)	(199,340)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	40,040,024	35,950,241	33,140,625
Principal payments on repurchase agreements	(42,905,685)	(33,301,721)	(32,993,145)
Cash dividends	(93,494)	(90,984)	(53,645)
Proceeds from issuance of common stock, net of issuance costs	40,580	514,059	71,050
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(24,842)	(299)	(68)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(2,943,417)	3,071,296	164,817
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(213,223)	150,936	20,851
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	450,442	299,506	278,655
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	237,219	450,442	299,506
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	53,288	7,458	35,000
Collateralized Mortgage-Backed Securities [Member]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Realized and unrealized (gains) losses on derivative instruments	(245,421)	(35,350)	58,891
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(1,004,526)	(6,430,725)	(4,859,434)
Sales	2,759,919	2,851,708	4,200,536
Principal repayments	440,094	591,086	523,699
US Treasury Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	$ 0	$ (37,440)	$ 0