CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net loss	$ (204,653)	$ (7,746)
Adjustments to reconcile net loss to cash provided by operating activities:
Amortization of investment premiums	20,691	18,253
Amortization of equity-based awards	835	1,109
Amortization of unrealized gain on de-designated hedges	(103)	(3,020)
Loss on sale of mortgage investments	67,820
Loss on derivative instruments (net)	156,747	26,237
Other depreciation and amortization	29	27
Net change in receivables, other assets, accounts payable and accrued expenses	(1,872)	12,635
Net cash provided by operating activities	39,494	47,495
Investing activities:
Purchases of residential mortgage investments	(814,547)	(994,371)
Proceeds from sales of residential mortgage investments	2,540,426
Interest receivable acquired with the purchase of residential mortgage investments	(1,495)	(2,190)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	902,873	768,168
Redemption of lending counterparty investments		5,000
Net cash provided by (used in) investing activities	2,627,257	(223,393)
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	29,271,292	31,034,056
Principal payments on repurchase arrangements and similar borrowings	(31,167,283)	(30,790,967)
Increase in cash collateral receivable from derivative counterparties	(30,452)	(26,394)
Increase in cash collateral receivable from secured borrowing counterparties	(359,168)
Net payments on derivative settlements	(150,760)	(56,731)
Issuance of common stock	12,882
Other capital stock transactions	(107)	(106)
Dividends paid	(19,104)	(11,816)
Net cash (used in) provided by financing activities	(2,442,700)	148,042
Net change in cash and cash equivalents	224,051	(27,856)
Cash and cash equivalents at beginning of period	105,397	60,289
Cash and cash equivalents at end of period	$ 329,448	$ 32,433