Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 37,662	$ (39,226)	$ (258,453)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock based compensation	553	1,198	685
Net discount accretion on U.S. Treasury securities	(4,884)	(1,875)	0
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
Realized and unrealized (gains) losses on derivative instruments	(46,370)	10,616	(245,421)
Changes in operating assets and liabilities:
Accrued interest receivable	(8,093)	(3,432)	7,340
Other assets	63	(7)	(128)
Accrued interest payable	2,811	(1,270)	8,421
Other liabilities	650	534	454
Due to affiliates	154	(118)	69
NET CASH PROVIDED BY OPERATING ACTIVITIES	66,990	8,003	289,372
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(445,866)	(97,787)	0
Sales and maturities	454,272	797,633	2,759,919
Maturity of U.S. Treasury securities	450,000	37,500	0
Net proceeds from derivative instruments	24,121	15,940	245,335
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(1,415,487)	(441,064)	2,440,822
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	45,596,555	37,761,388	40,040,024
Principal payments on repurchase agreements	(44,276,661)	(37,434,184)	(42,905,685)
Cash dividends paid	(92,503)	(80,754)	(93,494)
Proceeds from issuance of common stock, net of issuance costs	259,328	159,438	40,580
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(3,458)	(9,757)	(24,842)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,483,261	396,131	(2,943,417)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	134,764	(36,930)	(213,223)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	200,289	237,219	450,442
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	335,053	200,289	237,219
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	233,471	203,188	53,288
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(2,393,320)	(1,521,070)	(1,004,526)
Sales and maturities	454,272	797,633	2,759,919
Principal repayments	$ 495,306	$ 326,720	$ 440,094