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Mortgage-Backed Securities (Tables)
 6 Months Ended
Jun. 30, 2021
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 as of the dates indicated:
June 30, 2021
Agency RMBSAgency CMBS
CMBS IO (1)
Non-Agency OtherTotal
MBS designated as AFS:
Par value$1,347,318 $196,093 $— $1,196 $1,544,607 
Unamortized premium (discount)44,344 2,725 326,572 (306)373,335 
Amortized cost1,391,662 198,818 326,572 890 1,917,942 
Gross unrealized gain10,022 12,300 16,155 152 38,629 
Gross unrealized loss(8,420)(8)(786)(41)(9,255)
Fair value1,393,264 211,110 341,941 1,001 1,947,316 
MBS measured at fair value through net income:
Par value$1,013,404 $— $— $— $1,013,404 
Unamortized premium34,219 — 526 — 34,745 
Amortized cost1,047,623 — 526 — 1,048,149 
Gross unrealized gain451 — 16 — 467 
Gross unrealized loss(430)— — — (430)
Fair value1,047,644 — 542 — 1,048,186 
Total as of June 30, 2021
$2,440,908 $211,110 $342,483 $1,001 $2,995,502 
(1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $10,868,346 and $8,984,509 respectively, as of June 30, 2021.
December 31, 2020
Agency RMBSAgency CMBS
CMBS IO (1)
Non-Agency OtherTotal
MBS designated as AFS:
Par value$1,839,046 $235,801 $— $1,499 $2,076,346 
Unamortized premium (discount)57,997 3,152 378,940 (440)439,649 
Amortized cost1,897,043 238,953 378,940 1,059 2,515,995 
Gross unrealized gain49,348 19,597 12,081 267 81,293 
Gross unrealized loss— — (982)(51)(1,033)
Fair value1,946,391 258,550 390,039 1,275 2,596,255 
MBS measured at fair value through net income:
Par value$— $— $— $— $— 
Unamortized premium— — — — — 
Amortized cost— — — — — 
Gross unrealized gain— — — — — 
Gross unrealized loss— — — — — 
Fair value— — — — — 
Total as of December 31, 2020$1,946,391 $258,550 $390,039 $1,275 $2,596,255 
(1) The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $11,277,908 and $9,319,520, respectively, as of December 31, 2020.
Schedule of Realized Gain (Loss) [Table Text Block] The following table presents information regarding the "realized gain on sale of investments, net" on the Company’s consolidated statements of comprehensive income (loss) for the periods indicated:
Three Months Ended
June 30,
20212020
Proceeds ReceivedRealized Gain (Loss)Proceeds ReceivedRealized Gain
Agency RMBS-designated as AFS$212,580 $(759)$371,106 $11,729 
Agency CMBS-designated as AFS37,873 2,767 2,020,228 181,370 
$250,453 $2,008 $2,391,334 $193,099 
Six Months Ended
June 30,
20212020
Proceeds ReceivedRealized GainProceeds ReceivedRealized Gain
Agency RMBS-designated as AFS$287,409 $3,938 $2,188,456 $75,823 
Agency CMBS-designated as AFS37,873 2,767 2,193,912 202,059 
$325,282 $6,705 $4,382,368 $277,882 
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:
 June 30, 2021December 31, 2020
Fair ValueGross Unrealized Losses# of SecuritiesFair ValueGross Unrealized Losses# of Securities
Continuous unrealized loss position for less than 12 months:    
Agency MBS$1,961,980 $(9,212)34$19,266 $(399)19
Non-Agency MBS4,996 (203)533,417 (408)23
Continuous unrealized loss position for 12 months or longer:
Agency MBS$324 $(121)5$749 $(133)2
Non-Agency MBS3,333 (149)72,156 (93)5