Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 3,530	$ (148,727)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock based compensation	409	162
Realized losses on mortgage-backed securities	0	51,086
Unrealized (gains) losses on mortgage-backed securities and U.S. Treasury Notes	(53,895)	309,962
Changes in operating assets and liabilities:
Accrued interest receivable	(1,601)	4,006
Other assets	(459)	(833)
Accrued interest payable	5,544	230
Other liabilities	182	204
Due to affiliates	98	4
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(2,629)	114,173
CASH FLOWS FROM INVESTING ACTIVITIES:
Net (payments on) proceeds from derivative instruments	(42,450)	103,900
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(448,889)	1,674,051
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	7,849,145	12,861,900
Principal payments on repurchase agreements	(7,458,153)	(14,641,897)
Cash dividends	(18,422)	(31,010)
Proceeds from issuance of common stock, net of issuance costs	31,657	0
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(3,970)	(214)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	400,257	(1,811,221)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(51,261)	(22,997)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	237,219	450,442
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	185,958	427,445
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	36,673	2,425
Collateralized Mortgage-Backed Securities [Member]
Adjustments to reconcile net loss to net cash provided by operating activities:
Realized and unrealized losses (gains) on derivative instruments	43,563	(101,921)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(467,460)	0
Sales	0	1,413,039
Principal repayments	$ 61,021	$ 157,112