Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities
Net income (loss)	$ (35,455)	$ 22,189	$ 12,530
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Realized (gain) loss on RMBS, net	36,315	99,694	(548)
Unrealized (gain) loss on investments in Servicing Related Assets	25,937	(22,976)	11,062
Realized gain on acquired assets, net	(23)	(12)	(15)
Realized (gain) loss on derivatives, net	(33,821)	(1,363)	9,339
Unrealized gain on RMBS, measured at fair value through earnings, net	(9,755)	0	0
Unrealized (gain) loss on derivatives, net	43,071	(61,864)	1,745
Amortization (accretion) of premiums on RMBS	(1,820)	613	13,514
Amortization of deferred financing costs	185	120	188
LTIP-OP Unit awards	468	496	900
Changes in:
Receivables and other assets, net	(1,613)	6,589	1,304
Due to affiliates	(81)	(19)	(1,328)
Accrued expenses and other liabilities, net	17,251	16,446	(684)
Net cash provided by operating activities	40,659	59,913	48,007
Cash Flows From Investing Activities
Purchase of RMBS	(761,946)	(1,080,180)	(583,617)
Principal paydown of RMBS	68,371	92,598	246,973
Proceeds from sale of RMBS	585,617	901,788	570,366
Acquisition of MSRs	174	(38,036)	(55,375)
Payments for settlement of derivatives	(9,329)	(27,774)	(11,826)
Proceeds from settlement of derivatives	13,059	23,402	0
Net cash provided by (used in) investing activities	(104,054)	(128,202)	166,521
Cash Flows From Financing Activities
Borrowings under repurchase agreements	9,300,725	6,081,968	5,323,587
Repayments of repurchase agreements	(9,223,198)	(6,121,500)	(5,608,071)
Proceeds from derivative financing	4,946	56,025	1,595
Proceeds from bank loans	(759)	41,500	105,702
Principal paydown of bank loans	(14,000)	(3,000)	(72,000)
Dividends paid	(31,211)	(30,818)	(28,455)
LTIP-OP Units distributions paid	(389)	(416)	(361)
Conversion of OP units	0	0	(147)
Redemption of OP units for cash	0	0	(89)
Issuance of common stock, net of offering costs	31,054	33,307	10,270
Net cash provided by (used in) financing activities	67,168	57,066	(267,969)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	3,773	(11,223)	(53,441)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	65,554	76,777	130,218
Cash, Cash Equivalents and Restricted Cash, End of Period	69,327	65,554	76,777
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest expense	28,885	10,806	2,272
Cash paid during the period for income taxes	56	44	58
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid	$ 6,650	8,483	7,056
Sale of RMBS, settled after period end		(49,803)	0
Purchase of RMBS, settled after period end		$ 78,881	$ 0