Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income	$ 241,577	$ 177,569	$ 144,633
Interest expense	(236,281)	(201,918)	(61,708)
Net interest income (expense)	5,296	(24,349)	82,925
Realized losses on mortgage-backed securities	(4,602)	(22,642)	(133,695)
Unrealized losses on mortgage-backed securities and U.S. Treasury securities	(79,842)	(18,941)	(642,710)
Gains on derivative instruments	133,554	45,237	452,476
Net portfolio income (loss)	54,406	(20,695)	(241,004)
Management fees	9,354	10,491	10,447
Allocated overhead	2,644	2,389	2,042
Incentive compensation	723	1,419	957
Directors' fees and liability insurance	1,358	1,322	1,251
Audit, legal and other professional fees	1,341	1,495	1,143
Direct REIT operating expenses	787	715	831
Other administrative	537	700	778
Total expenses	16,744	18,531	17,449
Net income (loss)	37,662	(39,226)	(258,453)
Unrealized gains on U.S. Treasury securities measured at fair value through other comprehensive net income (loss)	122	17	0
Comprehensive net income (loss)	$ 37,784	$ (39,209)	$ (258,453)
Basic and diluted net income (loss) per share (in dollars per share)	$ 0.57	$ (0.89)	$ (6.9)
Weighted Average Shares Outstanding (in shares)	65,449,149	44,649,039	37,464,671