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Mortgage-Backed Securities - Investment Type (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
MBS designated as AFS:    
Par value $ 1,369,816 $ 2,076,346
Unamortized premium (discount) (317,264) (439,648)
Amortized cost 1,687,080 2,515,994
Gross unrealized gain 27,191 81,293
Gross unrealized loss (20,462) (1,032)
Fair value 1,693,809 2,596,255
MBS measured at fair value through net income:    
Par value 1,445,796 0
Unamortized premium (317,264) (439,648)
Amortized cost 1,503,012 0
Gross unrealized gain 57 0
Gross unrealized loss (15,039) 0
Fair value 1,488,030 0
Total as of December 31, 2021 3,181,839 2,596,255
Fair Value Option    
MBS designated as AFS:    
Unamortized premium (discount) (57,216) 0
MBS measured at fair value through net income:    
Unamortized premium (57,216) 0
Agency RMBS-designated as AFS    
MBS designated as AFS:    
Par value 1,193,951 1,839,046
Unamortized premium (discount) (38,787) (57,997)
Amortized cost 1,232,738 1,897,043
Gross unrealized gain 7,779 49,348
Gross unrealized loss (19,994) 0
Fair value 1,220,523 1,946,391
MBS measured at fair value through net income:    
Par value 1,445,796 0
Unamortized premium (38,787) (57,997)
Amortized cost 1,481,169 0
Gross unrealized gain 0 0
Gross unrealized loss (14,917) 0
Fair value 1,466,252 0
Total as of December 31, 2021 2,686,775 1,946,391
Agency RMBS-designated as AFS | Fair Value Option    
MBS designated as AFS:    
Unamortized premium (discount) (35,373) 0
MBS measured at fair value through net income:    
Unamortized premium (35,373) 0
Agency CMBS-designated as AFS    
MBS designated as AFS:    
Par value 174,899 235,801
Unamortized premium (discount) (2,312) (3,152)
Amortized cost 177,211 238,953
Gross unrealized gain 7,636 19,597
Gross unrealized loss 0 0
Fair value 184,847 258,550
MBS measured at fair value through net income:    
Par value   0
Unamortized premium (2,312) (3,152)
Amortized cost   0
Gross unrealized gain   0
Gross unrealized loss   0
Fair value   0
Total as of December 31, 2021 184,847 258,550
Agency CMBS-designated as AFS | Fair Value Option    
MBS designated as AFS:    
Unamortized premium (discount)   0
MBS measured at fair value through net income:    
Unamortized premium   0
Agency CMBS IO -designated as AFS    
MBS designated as AFS:    
Par value 0 0
Unamortized premium (discount) (276,354) (378,939)
Amortized cost 276,354 378,939
Gross unrealized gain 11,713 12,081
Gross unrealized loss (426) (981)
Fair value 287,641 390,039
MBS measured at fair value through net income:    
Unamortized premium (276,354) (378,939)
Amortized cost 21,843 0
Gross unrealized gain 57 0
Gross unrealized loss (122) 0
Fair value 21,778 0
Total as of December 31, 2021 309,419 390,039
Notional balance for interest only securities   11,277,908
Agency CMBS IO -designated as AFS | Fair Value Option    
MBS designated as AFS:    
Unamortized premium (discount) (21,843) 0
MBS measured at fair value through net income:    
Par value 0 0
Unamortized premium (21,843) 0
Non-Agency MBS    
MBS designated as AFS:    
Par value 966 1,499
Unamortized premium (discount) (189) (440)
Amortized cost 777 1,059
Gross unrealized gain 63 267
Gross unrealized loss (42) (51)
Fair value 798 1,275
MBS measured at fair value through net income:    
Par value   0
Unamortized premium (189) (440)
Amortized cost   0
Gross unrealized gain   0
Gross unrealized loss   0
Fair value   0
Total as of December 31, 2021 798 1,275
Notional balance for interest only securities 8,635,666 9,319,520
Non-Agency MBS | Fair Value Option    
MBS designated as AFS:    
Unamortized premium (discount)   0
MBS measured at fair value through net income:    
Unamortized premium   $ 0
Agency Securities    
MBS measured at fair value through net income:    
Notional balance for interest only securities 10,189,497  
Agency Securities | Fair Value Option    
MBS measured at fair value through net income:    
Notional balance for interest only securities $ 441,217