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Mortgage-Backed Securities - Investment Type (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value $ 3,236,285 $ 2,815,612
Amortized Cost 3,522,256 3,190,092
Fair Value 3,112,705 3,181,839
Amortized cost 1,288,269 1,687,080
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 507 27,191
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (181,853) (20,462)
Debt Securities, Available-for-sale 1,106,923 1,693,809
Debt Securities, Trading, Amortized Cost 2,233,987 1,503,012
Gross unrealized gain, investment, fair value option 0 57
Gross unrealized loss, investment, fair value option (228,205) (15,039)
Debt Securities, Trading 2,005,782 1,488,030
Residential Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 3,104,498 2,639,747
Amortized Cost 3,150,873 2,713,907
Fair Value 2,762,878 2,686,775
Amortized cost 977,624 1,232,738
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 7,779
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (164,949) (19,994)
Debt Securities, Available-for-sale 812,675 1,220,523
Debt Securities, Trading, Amortized Cost 2,173,249 1,481,169
Gross unrealized gain, investment, fair value option 0 0
Gross unrealized loss, investment, fair value option (223,046) (14,917)
Debt Securities, Trading 1,950,203 1,466,252
Commercial Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 131,578 174,899
Amortized Cost 132,333 177,211
Fair Value 124,690  
Amortized cost 117,031 177,211
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 7,636
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (6,474) 0
Debt Securities, Available-for-sale 110,557 184,847
Debt Securities, Trading, Amortized Cost 15,302  
Gross unrealized gain, investment, fair value option 0  
Gross unrealized loss, investment, fair value option (1,169)  
Debt Securities, Trading 14,133  
Interest-Only-Strip [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized Cost [1] 238,841 298,197
Fair Value [1] 224,985 309,419
Amortized cost 193,405 276,354
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 507 11,713
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (10,373) (426)
Debt Securities, Available-for-sale 183,539 287,641
Debt Securities, Trading, Amortized Cost 45,436 21,843
Gross unrealized gain, investment, fair value option 0 57
Gross unrealized loss, investment, fair value option (3,990) (122)
Debt Securities, Trading 41,446 21,778
Interest-Only-Strip, Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 9,711,981 10,630,713
Interest-Only-Strip, Non-Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 6,280,761 8,635,666
Non-Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 209 966
Amortized cost 209 777
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 63
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (57) (42)
Debt Securities, Available-for-sale $ 152 $ 798
[1] (1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $9,711,981 and $6,280,761, respectively, as of December 31, 2022, and $10,630,713 and $8,635,666, respectively, as of December 31, 2021.