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Mortgage-Backed Securities - Investment Type (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value $ 5,182,595 $ 3,236,285
Amortized Cost 5,405,886 3,522,256
Fair Value 5,059,308 3,112,705
Amortized cost 1,204,445 1,288,269
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 902 507
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (176,898) (181,853)
Debt Securities, Available-for-sale 1,028,449 1,106,923
Debt Securities, Trading, Amortized Cost 4,201,440 2,233,987
Gross unrealized gain, investment, fair value option 1,030 0
Gross unrealized loss, investment, fair value option (171,611) (228,205)
Debt Securities, Trading 4,030,859 2,005,782
Residential Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 5,060,491 3,104,498
Amortized Cost 5,080,710 3,150,873
Fair Value 4,753,037 2,762,878
Amortized cost 937,727 977,624
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (161,660) (164,949)
Debt Securities, Available-for-sale 776,067 812,675
Debt Securities, Trading, Amortized Cost 4,142,983 2,173,249
Gross unrealized gain, investment, fair value option 1,030 0
Gross unrealized loss, investment, fair value option (167,043) (223,046)
Debt Securities, Trading 3,976,970 1,950,203
Commercial Mortgage Backed Securities [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 121,931 131,578
Amortized Cost 122,514 132,333
Fair Value 115,136 124,690
Amortized cost 107,227 117,031
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (6,172) (6,474)
Debt Securities, Available-for-sale 101,055 110,557
Debt Securities, Trading, Amortized Cost 15,287 15,302
Gross unrealized gain, investment, fair value option 0 0
Gross unrealized loss, investment, fair value option (1,206) (1,169)
Debt Securities, Trading 14,081 14,133
Interest-Only-Strip [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Amortized Cost [1] 202,489 238,841
Fair Value [1] 191,017 224,985
Amortized cost 159,318 193,405
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 902 507
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (9,011) (10,373)
Debt Securities, Available-for-sale 151,209 183,539
Debt Securities, Trading, Amortized Cost 43,170 45,436
Gross unrealized gain, investment, fair value option 0 0
Gross unrealized loss, investment, fair value option (3,362) (3,990)
Debt Securities, Trading 39,808 41,446
Interest-Only-Strip, Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 8,342,158 9,711,981
Interest-Only-Strip, Non-Agency CMBS [Member]    
Debt Securities, Trading and Available-for-sale [Abstract]    
Notional balance 4,332,365 6,280,761
Non-Agency MBS    
Debt Securities, Trading and Available-for-sale [Abstract]    
Par Value 173 209
Fair Value 118 152
Amortized cost 173 209
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 $ 118 $ 152
[1] (1) The notional balance for Agency CMBS IO and non-Agency CMBS IO was $8,342,158 and $4,332,365, respectively, as of June 30, 2023, and $9,711,981 and $6,280,761, respectively, as of December 31, 2022.