Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income	$ 177,569	$ 144,633	$ 134,700
Interest expense	(201,918)	(61,708)	(7,090)
Net interest (expense) income	(24,349)	82,925	127,610
Realized losses on mortgage-backed securities	(22,642)	(133,695)	(5,542)
Unrealized losses on mortgage-backed securities and U.S. Treasury securities	(18,941)	(642,710)	(198,454)
Gains on derivative instruments	45,237	452,476	26,492
Net portfolio loss	(20,695)	(241,004)	(49,894)
Management fees	10,491	10,447	8,156
Allocated overhead	2,389	2,042	1,632
Incentive compensation	1,419	957	1,132
Directors' fees and liability insurance	1,322	1,251	1,169
Audit, legal and other professional fees	1,495	1,143	1,112
Direct REIT operating expenses	715	831	1,090
Other administrative	700	778	575
Total expenses	18,531	17,449	14,866
Net loss	(39,226)	(258,453)	(64,760)
Unrealized gains on U.S. Treasury securities measured at fair value through other comprehensive net loss	17	0	0
Comprehensive net loss	$ (39,209)	$ (258,453)	$ (64,760)
Basic and diluted net loss per share (in dollars per share)	$ (0.89)	$ (6.9)	$ (2.67)
Weighted Average Shares Outstanding (in shares)	44,649,039	37,464,671	24,228,865
Collateralized Mortgage-Backed Securities [Member]
Realized losses on mortgage-backed securities	$ (22,642)	$ (133,695)	$ (5,542)