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Pay vs Performance Disclosure
 5 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table  
The following table provides information about the relationship between compensation actually paid (as determined under SEC rules) to Mr. Boston and Ms. Popenoe, our principal executive officers (“PEOs”) and the average our non-PEO NEOs and certain financial performance measures of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Executive Compensation — Compensation Discussion and Analysis.”

Pay Versus Performance Table
Year
Summary Comp-
ensation Table Total for PEO
(Mr. Boston)(1)
Compen-
sation Actually Paid
to PEO (Mr. Boston)
Summary Comp-
ensation Table Total for PEO (Ms. Popenoe) (1)
Compen-
sation Actually Paid
to PEO
(Ms. Popenoe)
Average
Summary
Compen-
sation
Table Total for
non-PEO
NEOs(1)
Average
Compen-
sation
Actually Paid to
non-PEO
NEOs(1)
Value of Initial Fixed $100 Investment Based on:
Net
Income (Loss)
($ in thousands)
Total Economic Return %(4)
Total
 Share-holder Return(2)
Peer
Group Total
Share-holder Return(2)(3)
2024$7,199,588 $7,172,854 $6,155,854 $6,123,214 $3,379,248 $3,422,066 128.99 79.95 $113,898 7.4 %
20236,177,239 5,889,056 
N/A
N/A3,822,244 3,733,285 113.47 79.78 (6,130)1.0 %
20224,230,683 3,702,486 
N/A
N/A3,084,333 2,907,635 101.29 69.26 143,161 (9.4)%
20214,476,138 4,089,845 
N/A
N/A2,665,564 2,504,410 119.67 94.04 102,261 2.5 %
20203,875,179 4,813,278 
N/A
N/A1,976,652 2,327,810 117.01 81.38 177,529 15.2 %
        
Named Executive Officers, Footnote   For July 22, 2024-December 31, 2024, Mr. Boston and Ms. Popenoe served as Co-Chief Executive Officers (Co-PEOs). For 2020-July 21, 2024, Mr. Boston served as our Chief Executive Officer and sole PEO. During 2024, Mr. Colligan was the only NEO who was a non-PEO for the entire year. For 2023, our non-PEO NEOs were Mr. Colligan and Ms. Popenoe. For 2022, our non-PEO NEOs were Stephen J. Benedetti (former Executive Vice President, Chief Financial Officer, and Chief Operating Officer), Mr. Colligan, and Ms. Popenoe. For 2020 and 2021, our non-PEO NEOs were Mr. Benedetti and Ms. Popenoe.        
PEO Total Compensation Amount [1]     $ 6,177,239 $ 4,230,683 $ 4,476,138 $ 3,875,179
PEO Actually Paid Compensation Amount [1]     5,889,056 3,702,486 4,089,845 4,813,278
Adjustment To PEO Compensation, Footnote  
Compensation actually paid represents the Summary Compensation Table Total adjusted for the following items:
Year 2024
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually Paid
PEO
(Mr. Boston)
PEO
(Ms. Popenoe)
Average for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(3,176,238)$(2,254,100)$(1,280,750)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,928,606 2,281,149 1,296,119 
Increase for fair value at vesting date of awards that were granted and vested during the year1,270,500 — — 
Increase for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end
57,556 39,468 27,597 
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(107,158)(99,157)(148)
Total adjustments$(26,734)$(32,640)$42,818 


Year 2023
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(2,931,062)$(1,633,237)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end2,962,858 1,656,840 
Increase for fair value at vesting date of awards that were granted and vested during the year— — 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(303,654)(109,372)
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(16,325)(3,190)
Total adjustments$(288,183)$(88,959)
Year 2022
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(1,480,618)$(609,194)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,398,422 337,235 
Increase for fair value at vesting date of awards that were granted and vested during the year— 261,096 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(401,858)(78,797)
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(44,143)(87,038)
Total adjustments$(528,197)$(176,698)
Year 2021
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table as well as amounts reported under the "Non-Equity Incentive Plan Compensation" column in the Summary Compensation Table for the portion of such long-term incentive compensation earned for performance during the three-year performance period ended December 31, 2021 that was paid in shares of the Company's common stock$(1,623,209)$(887,360)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,255,337 734,894 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(87,125)(36,999)
Increase for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year68,704 28,311 
Total adjustments$(386,293)$(161,154)
Year 2020
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(890,775)$(445,388)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,793,016 785,420 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(6,117)(1,927)
Increase for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year41,975 13,053 
Total adjustments$938,099 $351,158 
        
Non-PEO NEO Average Total Compensation Amount [1]   $ 3,379,248 3,822,244 3,084,333 2,665,564 1,976,652
Non-PEO NEO Average Compensation Actually Paid Amount [1]   $ 3,422,066 3,733,285 2,907,635 2,504,410 2,327,810
Adjustment to Non-PEO NEO Compensation Footnote  
Compensation actually paid represents the Summary Compensation Table Total adjusted for the following items:
Year 2024
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually Paid
PEO
(Mr. Boston)
PEO
(Ms. Popenoe)
Average for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(3,176,238)$(2,254,100)$(1,280,750)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,928,606 2,281,149 1,296,119 
Increase for fair value at vesting date of awards that were granted and vested during the year1,270,500 — — 
Increase for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end
57,556 39,468 27,597 
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(107,158)(99,157)(148)
Total adjustments$(26,734)$(32,640)$42,818 


Year 2023
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(2,931,062)$(1,633,237)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end2,962,858 1,656,840 
Increase for fair value at vesting date of awards that were granted and vested during the year— — 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(303,654)(109,372)
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(16,325)(3,190)
Total adjustments$(288,183)$(88,959)
Year 2022
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(1,480,618)$(609,194)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,398,422 337,235 
Increase for fair value at vesting date of awards that were granted and vested during the year— 261,096 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(401,858)(78,797)
Decrease for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year(44,143)(87,038)
Total adjustments$(528,197)$(176,698)
Year 2021
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table as well as amounts reported under the "Non-Equity Incentive Plan Compensation" column in the Summary Compensation Table for the portion of such long-term incentive compensation earned for performance during the three-year performance period ended December 31, 2021 that was paid in shares of the Company's common stock$(1,623,209)$(887,360)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,255,337 734,894 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(87,125)(36,999)
Increase for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year68,704 28,311 
Total adjustments$(386,293)$(161,154)
Year 2020
Adjustments to Summary Compensation Table Total to Calculate Compensation Actually PaidPEOAverage for non-PEO NEOs
Decrease for amounts reported under the "Stock Awards" column in the Summary Compensation Table$(890,775)$(445,388)
Increase for fair value at year-end of awards granted during year that remain outstanding and unvested as of year-end1,793,016 785,420 
Decrease for change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end(6,117)(1,927)
Increase for change in fair value from prior year-end to vesting date of awards granted in prior years that vested during year41,975 13,053 
Total adjustments$938,099 $351,158 
        
Compensation Actually Paid vs. Total Shareholder Return  
The following graph illustrates the relationship between compensation actually paid to our NEOs and our TSR as well as TSR for the FTSE NAREIT Mortgage REIT Index on a cumulative basis assuming investment of $100 on December 31, 2019:

2572
        
Compensation Actually Paid vs. Net Income  
The following graph compares our net income to compensation actually paid to our NEOs on an annual basis:

2683
The Company accounts for its investments purchased prior to January 1, 2021 as available-for-sale with changes in fair value recorded in "other comprehensive income (loss)." Effective January 1, 2021, the Company elected the fair value option for its investments purchased on or after that date with changes in fair value reported in "net income." As a result, net income (loss) for the years presented above in the Pay versus Performance Table and in the graph above does not include other comprehensive income (loss) of $(93.5) million, $(73.5) million, $(188.1) million, $22.8 million, and $(14.0) million, respectively.
        
Compensation Actually Paid vs. Company Selected Measure  
The following graph illustrates the relationship between compensation actually paid to our NEOs and our total economic return:
3424
        
Total Shareholder Return Vs Peer Group  
2572
        
Total Shareholder Return Amount [2]   $ 128.99 113.47 101.29 119.67 117.01
Peer Group Total Shareholder Return Amount [2],[3]   79.95 79.78 69.26 94.04 81.38
Net Income (Loss)   $ 113,898,000 $ (6,130,000) $ 143,161,000 $ 102,261,000 $ 177,529,000
Company Selected Measure Amount [4]   0.074 0.010 (0.094) 0.025 0.152
Measure:: 1            
Pay vs Performance Disclosure            
Name   absolute change in book value per common share        
Measure:: 2            
Pay vs Performance Disclosure            
Name   relative change in book value per common share compared to a peer group        
Measure:: 3            
Pay vs Performance Disclosure            
Name   absolute total economic return        
Measure:: 4            
Pay vs Performance Disclosure            
Name   relative total economic return compared to a peer group        
Mr. Boston [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount [1]   $ 7,199,588        
PEO Actually Paid Compensation Amount [1]   $ 7,172,854        
PEO Name   Mr. Boston        
Mrs. Popenoe [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount [1]   $ 6,155,854        
PEO Actually Paid Compensation Amount [1]   6,123,214        
PEO Name Ms. Popenoe          
PEO            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ (288,183) $ (528,197) $ (386,293) $ 938,099
PEO | Adjustment for amounts reported under Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (2,931,062) (1,480,618) (1,623,209) (890,775)
PEO | Adjustment for fair value at year-end of awards granted during year and unvested at year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     2,962,858 1,398,422 1,255,337 1,793,016
PEO | Adjustment for fair value at vesting date of awards granted and vested during the year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0    
PEO | Adjustment for change in fair value from prior year end to current year end of stock awards granted in prior years that remain unvested at current year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (303,654) (401,858) (87,125) (6,117)
PEO | Adjustment for change in fair value from prior year end to vesting date of awards granted in prior years that vested during current year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (16,325) (44,143) 68,704 41,975
PEO | Mr. Boston [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (26,734)        
PEO | Mr. Boston [Member] | Adjustment for amounts reported under Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (3,176,238)        
PEO | Mr. Boston [Member] | Adjustment for fair value at year-end of awards granted during year and unvested at year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   1,928,606        
PEO | Mr. Boston [Member] | Adjustment for fair value at vesting date of awards granted and vested during the year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   1,270,500        
PEO | Mr. Boston [Member] | Adjustment for change in fair value from prior year end to current year end of stock awards granted in prior years that remain unvested at current year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   57,556        
PEO | Mr. Boston [Member] | Adjustment for change in fair value from prior year end to vesting date of awards granted in prior years that vested during current year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (107,158)        
PEO | Mrs. Popenoe [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (32,640)        
PEO | Mrs. Popenoe [Member] | Adjustment for amounts reported under Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (2,254,100)        
PEO | Mrs. Popenoe [Member] | Adjustment for fair value at year-end of awards granted during year and unvested at year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   2,281,149        
PEO | Mrs. Popenoe [Member] | Adjustment for fair value at vesting date of awards granted and vested during the year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0        
PEO | Mrs. Popenoe [Member] | Adjustment for change in fair value from prior year end to current year end of stock awards granted in prior years that remain unvested at current year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   39,468        
PEO | Mrs. Popenoe [Member] | Adjustment for change in fair value from prior year end to vesting date of awards granted in prior years that vested during current year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (99,157)        
Non-PEO NEO            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   42,818 (88,959) (176,698) (161,154) 351,158
Non-PEO NEO | Adjustment for amounts reported under Stock Awards [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   (1,280,750) (1,633,237) (609,194) (887,360) (445,388)
Non-PEO NEO | Adjustment for fair value at year-end of awards granted during year and unvested at year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   1,296,119 1,656,840 337,235 734,894 785,420
Non-PEO NEO | Adjustment for fair value at vesting date of awards granted and vested during the year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   0 0 261,096    
Non-PEO NEO | Adjustment for change in fair value from prior year end to current year end of stock awards granted in prior years that remain unvested at current year end [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   27,597 (109,372) (78,797) (36,999) (1,927)
Non-PEO NEO | Adjustment for change in fair value from prior year end to vesting date of awards granted in prior years that vested during current year [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount   $ (148) $ (3,190) $ (87,038) $ 28,311 $ 13,053
[1] For July 22, 2024-December 31, 2024, Mr. Boston and Ms. Popenoe served as Co-Chief Executive Officers (Co-PEOs). For 2020-July 21, 2024, Mr. Boston served as our Chief Executive Officer and sole PEO. During 2024, Mr. Colligan was the only NEO who was a non-PEO for the entire year. For 2023, our non-PEO NEOs were Mr. Colligan and Ms. Popenoe. For 2022, our non-PEO NEOs were Stephen J. Benedetti (former Executive Vice President, Chief Financial Officer, and Chief Operating Officer), Mr. Colligan, and Ms. Popenoe. For 2020 and 2021, our non-PEO NEOs were Mr. Benedetti and Ms. Popenoe
[2] Total Shareholder Return ("TSR") for the Company and the Peer Group assume $100 invested on December 31, 2019.
[3] The Peer Group Total Shareholder Return is calculated based on the FTSE NAREIT Mortgage REIT Index.
[4] Total economic return ("TER") percentage is the sum of dividends declared per common share during the year plus the change in book value per common share for the year divided by the beginning book value per common share. While the Company uses numerous financial and non-financial performance measures for the purpose of evaluating performance, the Company has determined that TER is the financial measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to Company performance. TER is a performance measure for our executives' PSU awards.