Investments in Debt Securities Investments in Debt Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-sale [Table Text Block]

The following tables present the Company’s MBS by investment type (including securities pending settlement) as of the dates indicated:

	March 31, 2020
	Par		Net Premium (Discount)		Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Agency CMBS	$	2,104,738	$	16,937	$	2,121,675	$	207,436	$	(892)	$	2,328,219
Agency RMBS	868,191		19,240		887,431		44,005		—		931,436
CMBS IO (1)	—		462,675		462,675		2,616		(6,802)		458,489
Non-Agency other	1,833		(686)		1,147		472		(57)		1,562
Total MBS:	$	2,974,762	$	498,166	$	3,472,928	$	254,529	$	(7,751)	$	3,719,706

(1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $13,274,419 and $9,680,637 respectively, as of March 31, 2020.

	December 31, 2019
	Par		Net Premium (Discount)		Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Agency CMBS	$	1,890,186	$	15,414	$	1,905,600	$	93,763	$	(6)	$	1,999,357
Agency RMBS	2,563,684		55,770		2,619,454		69,082		(462)		2,688,074
CMBS IO (2)	—		488,145		488,145		11,760		(863)		499,042
Non-Agency other	1,938		(780)		1,158		552		(20)		1,690
Total MBS:	$	4,455,808	$	558,549	$	5,014,357	$	175,157	$	(1,351)	$	5,188,163

(1) The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $13,404,824 and $9,799,629, respectively, as of December 31, 2019.

Schedule of Realized Gain (Loss) [Table Text Block]

The following table presents information regarding the "gain on sale of investments, net" on the Company’s consolidated statements of comprehensive income (loss) for the periods indicated ⁽¹⁾:

	Three Months Ended
	March 31,
	2020				2019
	Proceeds Received		Realized Gain (Loss)		Proceeds Received		Realized Gain (Loss)
Agency RMBS	$	1,817,350	$	64,094	$	—	$	—
Agency CMBS	173,684		20,689		—		—
	$	1,991,034	$	84,783	$	—	$	—

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]

The following table presents certain information for the AFS securities in an unrealized loss position as of the dates indicated:

	March 31, 2020					December 31, 2019
	Fair Value		Gross Unrealized Losses		# of Securities	Fair Value		Gross Unrealized Losses		# of Securities
Continuous unrealized loss position for less than 12 months:
Agency MBS	$	322,607	$	(5,846)	56	$	215,792	$	(1,139)	27
Non-Agency MBS	115,425		(1,804)		51	13,607		(146)		7
Continuous unrealized loss position for 12 months or longer:
Agency MBS	$	388	$	(79)	2	$	75,745	$	(35)	2
Non-Agency MBS	111		(22)		4	1,099		(31)		5