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Mortgage-Backed Securities - Investment Type (Details) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value $ 3,376,974 $ 3,236,285
Amortized Cost 3,634,434 3,522,256
Fair Value 3,296,784 3,112,705
Amortized cost 1,247,920 1,288,269
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 660 507
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (167,213) (181,853)
Debt Securities, Available-for-sale 1,081,367 1,106,923
Debt Securities, Trading, Amortized Cost 2,386,513 2,233,987
Gross unrealized gain, investment, fair value option 6,070 0
Gross unrealized loss, investment, fair value option (177,166) (228,205)
Debt Securities, Trading 2,215,417 2,005,782
Residential Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 3,251,563 3,104,498
Amortized Cost 3,287,869 3,150,873
Fair Value 2,966,891 2,762,878
Amortized cost 960,952 977,624
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (153,711) (164,949)
Debt Securities, Available-for-sale 807,241 812,675
Debt Securities, Trading, Amortized Cost 2,326,917 2,173,249
Gross unrealized gain, investment, fair value option 6,070 0
Gross unrealized loss, investment, fair value option (173,337) (223,046)
Debt Securities, Trading 2,159,650 1,950,203
Commercial Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 125,220 131,578
Amortized Cost 125,833 132,333
Fair Value 119,474 124,690
Amortized cost 110,539 117,031
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (5,428) (6,474)
Debt Securities, Available-for-sale 105,111 110,557
Debt Securities, Trading, Amortized Cost 15,294 15,302
Gross unrealized gain, investment, fair value option 0 0
Gross unrealized loss, investment, fair value option (931) (1,169)
Debt Securities, Trading 14,363 14,133
Interest-Only-Strip [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized Cost [1] 220,541 238,841
Fair Value [1] 210,283 224,985
Amortized cost 176,238 193,405
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 660 507
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (8,019) (10,373)
Debt Securities, Available-for-sale 168,879 183,539
Debt Securities, Trading, Amortized Cost 44,302 45,436
Gross unrealized gain, investment, fair value option 0 0
Gross unrealized loss, investment, fair value option (2,898) (3,990)
Debt Securities, Trading 41,404 41,446
Interest-Only-Strip, Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 9,017,704 9,711,981
Interest-Only-Strip, Non-Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 5,019,210 6,280,761
Non-Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 191 209
Fair Value 136 152
Amortized cost 191 209
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (55) (57)
Debt Securities, Available-for-sale $ 136 $ 152
[1] (1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $9,017,704 and $5,019,210, respectively, as of March 31, 2023, and $9,711,981 and $6,280,761, respectively, as of December 31, 2022.