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Note 2 - Mortgage-backed Securities, At Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Marketable Securities [Table Text Block]

(in thousands)
		*September 30, 2024*												*December 31, 2023*
		*Par Value*				Cost⁽¹⁾				*Fair Value*				*Par Value*				Cost⁽¹⁾				*Fair Value*
Pass-Through RMBS Certificates:
Fixed-rate Mortgages		$	5,487,831			$	5,613,352			$	5,427,069			$	4,051,145			$	4,198,424			$	3,877,082
Total Pass-Through Certificates			5,487,831				5,613,352				5,427,069				4,051,145				4,198,424				3,877,082
Structured RMBS Certificates:
Interest-Only Securities⁽²⁾			n/a				17,922				15,382				n/a				19,839				16,572
Inverse Interest-Only Securities⁽³⁾			n/a				1,598				353				n/a				1,825				358
Total Structured RMBS Certificates							19,520				15,735								21,664				16,930
Total		$	5,487,831			$	5,632,872			$	5,442,804			$	4,051,145			$	4,220,088			$	3,894,012

Gain (Loss) on Securities [Table Text Block]

(in thousands)
		*Nine Months Ended September 30,*
		*2024*				*2023*
Proceeds from sales of RMBS⁽¹⁾		$	288,242			$	-
Carrying value of RMBS sold			(287,732	)			-
Net gain on sales of RMBS		$	510			$	-

Gross gain on sales of RMBS		$	510			$	-
Gross loss on sales of RMBS			-				-
Net gain on sales of RMBS		$	510			$	-