Ellington Financial (EFC) 10-K 13 Mar 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 06, 2020	Jun. 28, 2019
Class of Stock [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-34569
Entity Registrant Name	Ellington Financial Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0489289
Entity Address, Address Line One	53 Forest Avenue
Entity Address, City or Town	Old Greenwich
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06870
City Area Code	203
Local Phone Number	698-1200
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 477,738,614
Entity Common Stock, Shares Outstanding		44,068,096
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001411342
Current Fiscal Year End Date	--12-31
Common Stock
Class of Stock [Line Items]
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	EFC
Security Exchange Name	NYSE
Cumulative Redeemable Preferred Stock
Class of Stock [Line Items]
Title of 12(b) Security	6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	EFC PR A
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018
Assets
Cash and cash equivalents		$ 72,302	[1]	$ 44,656
Restricted cash		175	[1]	425
Securities, at fair value(1)	[1]	2,449,941
Loans, at fair value	[1]	1,412,426
Investment in unconsolidated entities, at fair value	[1]	71,850
Real estate owned	[1]	30,584
Investments, financial derivatives, and repurchase agreements:
Investments, at fair value (Cost – $2,970,306)				2,939,311
Reverse repurchase agreements		73,639		61,274
Total investments, financial derivatives, and repurchase agreements				3,020,586
Financial derivatives—assets, at fair value		16,788		20,001
Due from brokers		79,829	[1]	71,794
Receivable for securities sold and financial derivatives				780,826
Investment related receivables	[1]	123,120
Interest and principal receivable				37,676
Other assets		7,563	[1]	15,536
Total Assets		4,338,217		3,971,499
Investments and financial derivatives:
Repurchase agreements		2,445,300	[1]	1,498,849
Securities sold short, at fair value		73,409		850,577
Financial derivatives—liabilities, at fair value		27,621		20,806
Total investments and financial derivatives				871,383
Due to brokers		2,197		5,553
Investment related payables		66,133	[1]	488,411
Other secured borrowings		150,334	[1]	114,100
Other secured borrowings, at fair value		594,396	[1]	297,948
Senior notes, net		85,298		85,035
Accounts payable and accrued expenses				5,723
Base management fee payable to affiliate		2,663		1,744
Incentive fee payable to affiliate		116
Dividends payable		6,978
Interest payable	[1]	7,320
Interest and dividends payable				7,159
Accrued expenses and other liabilities	[1]	7,753
Other liabilities				424
Total Liabilities		3,469,518		3,376,329
Commitments and contingencies
ANALYSIS OF EQUITY:
Preferred stock, par value $0.001 per share, 100,000,000 shares authorized;6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable; 4,600,000 shares issued and outstanding ($115,000 liquidation preference)		111,034
Common stock, par value $0.001 per share, 100,000,000 shares authorized; 38,647,943 shares issued and outstanding		39		563,833
Additional paid-in-capital		821,747		0
Retained earnings (accumulated deficit)		(103,555)
Total Stockholders' Equity		829,265		563,833
Non-controlling interests		39,434	[1]	31,337
Total Equity		868,699		595,170
Total Liabilities and Equity		$ 4,338,217		$ 3,971,499
PER SHARE INFORMATION:
Common shares				$ 18.92
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Investments at value, cost		$ 2,970,306,000
Financial derivatives–assets, net cost		22,526,000
Repurchase agreements, cost		61,274,000
Investments sold short at value, proceeds		(844,604,000)
Financial derivatives-liabilities, at fair value Net proceeds		(19,019,000)
Other secured borrowings proceeds		(114,100,000)
Other secured financing, at fair value-Proceeds		$ (298,706,000)
Common shares	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	38,647,943	29,796,601
Common stock, shares outstanding	38,647,943	29,796,601
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Preferred Stock, Shares Authorized	100,000,000
Preferred Stock, Shares Issued	4,600,000
Preferred Stock, Shares Outstanding	4,600,000
Preferred Stock, Dividend Rate, Percentage	6.75%
Preferred Stock, Liquidation Preference, Value	$ 115,000

Consolidated Condensed Schedule

Consolidated Condensed Schedule of Investments (Cash Equivalents) - Cash equivalents shares in Thousands, $ in Thousands	Dec. 31, 2018USD ($)shares	[2]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	2.09%	[1]
Money Market Funds, at Cost	$ 12,460
Money Market Funds, at Carrying Value	$ 12,460
Various Money Market Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, Balance, Shares | shares	12,460
Money Market Funds, at Carrying Value	$ 12,460
Various Money Market Funds [Member] | Minimum
Schedule of Investments [Line Items]
Investment Interest Rate	2.31%
Various Money Market Funds [Member] | Maximum
Schedule of Investments [Line Items]
Investment Interest Rate	2.34%
[1]	Classification percentages are based on Total Equity.
[2]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.

Consolidated Condensed Schedu_2

Consolidated Condensed Schedule of Investments (Long Investments) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)propertyshares
Schedule of Investments [Line Items]
Fair Value	$ 2,939,311
Number of Real Estate Properties | property	20
Investments at value, cost	$ 2,970,306
Percentage collateralized by GNRCMO certificates	100.00%
Non-performing loans, maturity date not applicable	$ 47,300
Mortgage Loans in Process of Foreclosure, Amount	$ 9,100
Unrated But Agency-Guaranteed [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	243.66%
Long Investment Aaa Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	0.01%
Long Investment Aa Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	0.63%
Long Investment A Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	4.73%
Long Investment BBB Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	1.84%
Long Investment BB Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	46.34%
Long Investment Unrated Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity	196.65%
Related Party-Consumer Loans Titled in Name of Related Party
Schedule of Investments [Line Items]
Fair value of loans held in related party trust	$ 21,900
Purchasing Entity
Schedule of Investments [Line Items]
Fair value of loans held in related party trust	$ 181,500
Principal And Interest - Fixed Rate Agency Securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	148.68%	[1],[2],[3],[4]
Fair Value	$ 884,870
Interest Only - Fixed Rate Agency Securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	1.77%	[1],[2],[3],[4]
Fair Value	$ 10,510
TBA - Fixed Rate Agency Securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	79.78%	[1],[2],[3],[4]
Current Principal/Notional Amount	$ 460,037
Fair Value	$ 474,860
Fixed Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	230.23%	[1],[2],[3],[4]
Fair Value	$ 1,370,240
Investments at value, cost	$ 1,388,115	[1],[3],[4]
Principal And Interest - Floating Rate Agency Securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	10.24%	[1],[2],[3],[4]
Fair Value	$ 60,971
Interest Only - Floating Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	3.19%	[1],[2],[3],[4]
Fair Value	$ 19,006
Floating Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	13.43%	[1],[2],[3],[4]
Fair Value	$ 79,977
Investments at value, cost	$ 81,873	[1],[3],[4]
Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	243.66%	[1],[2],[3],[4]
Fair Value	$ 1,450,217
Investments at value, cost	$ 1,469,988	[1],[3],[4]
Principal And Interest - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	55.33%	[2],[3],[4]
Fair Value	$ 329,317
Investments at value, cost	$ 326,430	[3],[4]
Interest Only - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	1.22%	[2],[3],[4]
Fair Value	$ 7,230
Investments at value, cost	$ 5,189	[3],[4]
Other Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.00%	[2],[3],[4]
Fair Value	$ 0
Investments at value, cost	$ 0	[3],[4]
Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	56.55%	[2],[3],[4]
Fair Value	$ 336,547
Investments at value, cost	$ 331,619	[3],[4]
Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	300.21%	[2],[3],[4]
Fair Value	$ 1,786,764
Investments at value, cost	$ 1,801,607	[3],[4]
CLOs
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	20.82%	[2],[3],[4]
Fair Value	$ 123,893
Investments at value, cost	139,424	[3],[4]
CLOs | Related Party CLO securitization [Member]
Schedule of Investments [Line Items]
Fair Value	$ 50,800
Consumer loans and asset-backed securities backed by consumer loans
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	34.74%	[2],[3],[4],[5]
Fair Value	$ 206,761
Investments at value, cost	$ 211,982	[3],[4],[5]
Corporate debt securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	3.76%	[2],[3],[4]
Fair Value	$ 22,392
Investments at value, cost	$ 24,268	[3],[4]
Secured notes
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	1.83%	[2],[3],[4],[6]
Fair Value	$ 10,917
Investments at value, cost	$ 12,138	[3],[4],[6]
Mortgage Loans [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	118.96%	[2],[3],[4],[5]
Fair Value	$ 708,015
Investments at value, cost	$ 703,366	[3],[4],[5]
Real estate owned
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	5.80%	[2],[3],[4],[5],[7]
Fair Value	$ 34,500
Investments at value, cost	$ 35,371	[3],[4],[5],[7]
Common stock
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.37%	[2],[3],[4]
Fair Value	$ 2,200
Investments at value, cost	$ 2,482	[3],[4]
Corporate equity securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	7.36%	[2],[3],[4]
Fair Value	$ 43,793
Investments at value, cost	39,592	[3],[4]
Corporate equity securities | Mortgage-related Commercial
Schedule of Investments [Line Items]
Fair Value	$ 1,100
U.S. Treasury securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.01%	[2],[3],[4]
Fair Value	$ 76
Investments at value, cost	$ 76	[3],[4]
Long Investments [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	493.86%	[2],[3],[4]
Fair Value	$ 2,939,311
Investments at value, cost	$ 2,970,306	[3],[4]
Long Investments [Member] | Government National Mortgage Association [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	107.55%
Long Investments [Member] | Federal National Mortgage Association [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	93.99%
Long Investments [Member] | Federal Home Loan Mortgage Corporation [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	42.12%
Securitized residential mortgage loans
Schedule of Investments [Line Items]
Fair Value of Assets Transfered and Accounted for as Secured Borrowings	$ 314,200
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 4.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 143,523
Investment Interest Rate	4.00%
Fair Value	$ 147,395
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 4.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 4.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-11
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 111,109
Investment Interest Rate	4.00%
Fair Value	$ 114,104
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2041-11
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 3.50% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 82,189
Investment Interest Rate	3.50%
Fair Value	$ 82,450
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 3.50% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (30 Year) 3.50% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-02
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 4.50% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 74,478
Investment Interest Rate	4.50%
Fair Value	$ 77,266
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 4.50% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2046-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 4.50% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2049-01
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 65,892
Investment Interest Rate	4.50%
Fair Value	$ 68,853
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Four Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2041-10
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Four Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 51,362
Investment Interest Rate	4.00%
Fair Value	$ 52,544
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Four Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-07
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Four Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-05
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 46,026
Investment Interest Rate	5.00%
Fair Value	$ 48,245
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-02
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 45,670
Investment Interest Rate	4.50%
Fair Value	$ 47,583
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Four Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-10
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Three Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 42,663
Investment Interest Rate	3.50%
Fair Value	$ 43,241
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Three Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2028-03
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Three Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2032-03
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 38,420
Investment Interest Rate	5.00%
Fair Value	$ 40,652
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2035-10
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-08
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Three Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 32,106
Investment Interest Rate	3.50%
Fair Value	$ 32,253
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Three Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Three Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2047-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 25,082
Investment Interest Rate	3.50%
Fair Value	$ 25,185
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-01
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-03
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 5.50% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 21,807
Investment Interest Rate	5.50%
Fair Value	$ 23,207
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 5.50% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-04
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 5.50% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (15 Year) 3.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 10,899
Investment Interest Rate	3.00%
Fair Value	$ 10,895
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (15 Year) 3.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2030-04
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (15 Year) 3.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2032-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 8,275
Investment Interest Rate	3.50%
Fair Value	$ 8,389
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2028-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2032-12
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Other) Three Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 7,287
Investment Interest Rate	3.50%
Fair Value	$ 7,316
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Other) Three Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-04
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Other) Three Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2046-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) 5.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 6,096
Investment Interest Rate	5.00%
Fair Value	$ 6,423
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) 5.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-07
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) 5.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-10
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 5,728
Investment Interest Rate	4.00%
Fair Value	$ 5,823
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Four Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2026-06
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Four Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2031-05
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 5,023
Investment Interest Rate	5.50%
Fair Value	$ 5,342
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-11
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Five Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-06
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Other) 5.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 4,547
Investment Interest Rate	5.00%
Fair Value	$ 4,772
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Other) 5.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Other) 5.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-01
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Other) 4.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2047-12
Current Principal/Notional Amount	$ 4,394
Investment Interest Rate	4.00%
Fair Value	$ 4,478
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 6.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,408
Investment Interest Rate	6.00%
Fair Value	$ 3,666
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 6.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-05
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 6.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-11
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 2,773
Investment Interest Rate	3.00%
Fair Value	$ 2,722
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-07
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Three Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-06
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Three Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 2,603
Investment Interest Rate	3.00%
Fair Value	$ 2,556
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Three Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-01
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Three Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-06
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (30 Year) 3.75% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2047-07
Current Principal/Notional Amount	$ 2,508
Investment Interest Rate	3.75%
Fair Value	$ 2,537
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Other) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-05
Current Principal/Notional Amount	$ 2,348
Investment Interest Rate	4.50%
Fair Value	$ 2,432
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation (15 Year) 3 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2030-04
Current Principal/Notional Amount	$ 2,343
Investment Interest Rate	3.00%
Fair Value	$ 2,342
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Fifteen Year) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2026-04
Current Principal/Notional Amount	$ 2,177
Investment Interest Rate	4.50%
Fair Value	$ 2,265
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Other) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2041-05
Current Principal/Notional Amount	$ 2,025
Investment Interest Rate	4.50%
Fair Value	$ 2,079
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Five Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 1,677
Investment Interest Rate	5.50%
Fair Value	$ 1,786
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Five Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2033-08
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Five Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2048-05
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Twenty Year) Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2033-12
Current Principal/Notional Amount	$ 1,478
Investment Interest Rate	4.00%
Fair Value	$ 1,526
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Twenty Year) Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2033-12
Current Principal/Notional Amount	$ 976
Investment Interest Rate	4.50%
Fair Value	$ 1,021
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Fifteen Year) Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2029-02
Current Principal/Notional Amount	$ 886
Investment Interest Rate	4.00%
Fair Value	$ 897
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools (Thirty Year) Six Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2040-05
Current Principal/Notional Amount	$ 651
Investment Interest Rate	6.00%
Fair Value	$ 697
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Three Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-11
Current Principal/Notional Amount	$ 710
Investment Interest Rate	3.00%
Fair Value	$ 695
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Six Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 588
Investment Interest Rate	6.00%
Fair Value	$ 631
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Six Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-09
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Six Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2040-02
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Government National Mortgage Association Pools (Thirty Year) Two Point Four Nine Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-10
Current Principal/Notional Amount	$ 524
Investment Interest Rate	2.49%
Fair Value	$ 496
North America [Member] | Principal And Interest - Fixed Rate Agency Securities | Federal National Mortgage Association Pools (Thirty Year) Three Point Two Eight Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2042-06
Current Principal/Notional Amount	$ 109
Investment Interest Rate	3.28%
Fair Value	$ 106
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 4.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 17,505
Investment Interest Rate	4.00%
Fair Value	$ 2,828
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 4.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-02	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 4.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-06	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association 4.50% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 10,446
Investment Interest Rate	4.50%
Fair Value	$ 1,223
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association 4.50% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2020-12	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association 4.50% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-06	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 6.00% [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 4,768
Investment Interest Rate	6.00%
Fair Value	$ 978
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 6.00% [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2038-06	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association 6.00% [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-08	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 5,949
Investment Interest Rate	4.50%
Fair Value	$ 808
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Four Point Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-06	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Four Point Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-07	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Five Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-10	[1],[3],[4]
Current Principal/Notional Amount	$ 3,401
Investment Interest Rate	5.50%
Fair Value	$ 749
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Five Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-11	[1],[3],[4]
Current Principal/Notional Amount	$ 3,612
Investment Interest Rate	5.50%
Fair Value	$ 623
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Three Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2032-12	[1],[3],[4]
Current Principal/Notional Amount	$ 3,642
Investment Interest Rate	3.50%
Fair Value	$ 515
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Four Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,560
Investment Interest Rate	4.00%
Fair Value	$ 513
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Four Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-05	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Four Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-11	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 2,659
Investment Interest Rate	5.00%
Fair Value	$ 463
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2038-01	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2040-05	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2038-11	[1],[3],[4]
Current Principal/Notional Amount	$ 5,122
Investment Interest Rate	5.00%
Fair Value	$ 402
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Five Point FIve Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,749
Investment Interest Rate	5.50%
Fair Value	$ 336
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Five Point FIve Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-01	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Five Point FIve Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2039-09	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Six Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2040-01	[1],[3],[4]
Current Principal/Notional Amount	$ 1,613
Investment Interest Rate	6.00%
Fair Value	$ 274
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation Four Point Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2043-07	[1],[3],[4]
Current Principal/Notional Amount	$ 1,463
Investment Interest Rate	4.50%
Fair Value	$ 254
North America [Member] | Interest Only - Fixed Rate Agency Securities | Federal National Mortgage Association Three Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2041-09	[1],[3],[4]
Current Principal/Notional Amount	$ 2,291
Investment Interest Rate	3.00%
Fair Value	$ 203
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,043
Investment Interest Rate	5.00%
Fair Value	$ 181
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Five Percent [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2037-05	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Five Percent [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2041-05	[1],[3],[4]
North America [Member] | Interest Only - Fixed Rate Agency Securities | Government National Mortgage Association Four Point Seven Five Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2040-07	[1],[3],[4]
Current Principal/Notional Amount	$ 842
Investment Interest Rate	4.75%
Fair Value	$ 160
North America [Member] | TBA - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation (15 Year) 3 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 1,660
Investment Interest Rate	3.00%
Fair Value	$ 1,655
North America [Member] | TBA - Fixed Rate Agency Securities | Government National Mortgage Association (30 Year) 5 Point 00 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 299,455
Investment Interest Rate	5.00%
Fair Value	$ 311,515
North America [Member] | TBA - Fixed Rate Agency Securities | Federal National Mortgage Association (30 Year) 4 Point 00 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 122,003
Investment Interest Rate	4.00%
Fair Value	$ 124,376
North America [Member] | TBA - Fixed Rate Agency Securities | Federal Home Loan Mortgage Corporation (30 Year) 3 Point 50 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 21,540
Investment Interest Rate	3.50%
Fair Value	$ 21,529
North America [Member] | TBA - Fixed Rate Agency Securities | Government National Mortgage Association (30 Year) 5 Point 50 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 10,579
Investment Interest Rate	5.50%
Fair Value	$ 11,058
North America [Member] | TBA - Fixed Rate Agency Securities | Government National Mortgage Association (30 Year) 3 Point 00 Percent [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[1],[3],[4]
Current Principal/Notional Amount	$ 4,800
Investment Interest Rate	3.00%
Fair Value	$ 4,727
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Government National Mortgage Association Pools [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	52,532
Fair Value	$ 55,475
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Government National Mortgage Association Pools [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2061-07	[1],[3],[4]
Investment Interest Rate	4.39%	[1],[3],[4]
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Government National Mortgage Association Pools [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2067-12	[1],[3],[4]
Investment Interest Rate	4.67%	[1],[3],[4]
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal National Mortgage Association Pools [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,515
Fair Value	$ 3,650
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal National Mortgage Association Pools [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2035-09	[1],[3],[4]
Investment Interest Rate	2.70%	[1],[3],[4]
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal National Mortgage Association Pools [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2045-05	[1],[3],[4]
Investment Interest Rate	4.69%	[1],[3],[4]
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 1,808
Fair Value	$ 1,846
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2037-06	[1],[3],[4]
Investment Interest Rate	3.49%	[1],[3],[4]
North America [Member] | Principal And Interest - Floating Rate Agency Securities | Federal Home Loan Mortgage Corporation Pools [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-05	[1],[3],[4]
Investment Interest Rate	4.72%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Government National Mortgage Association [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 228,763
Fair Value	$ 10,772
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Government National Mortgage Association [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2031-06	[1],[3],[4]
Investment Interest Rate	0.38%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Government National Mortgage Association [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2066-10	[1],[3],[4]
Investment Interest Rate	5.64%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal National Mortgage Association [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 70,568
Fair Value	$ 4,880
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal National Mortgage Association [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2033-06	[1],[3],[4]
Investment Interest Rate	1.13%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal National Mortgage Association [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2046-11	[1],[3],[4]
Investment Interest Rate	5.50%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 48,699
Fair Value	$ 3,256
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2036-03	[1],[3],[4]
Investment Interest Rate	1.55%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2044-01	[1],[3],[4]
Investment Interest Rate	4.19%	[1],[3],[4]
North America [Member] | Interest Only - Floating Rate Agency Securities [Member] | Resecuritization of Government National Mortgage Association [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2060-08	[1],[3],[4],[8]
Current Principal/Notional Amount	$ 5,220
Investment Interest Rate	2.21%
Fair Value	$ 98
North America [Member] | Principal And Interest - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	27.62%	[2],[3],[4]
Fair Value	$ 164,410
Investments at value, cost	153,769	[3],[4]
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Commercial
Schedule of Investments [Line Items]
Current Principal/Notional Amount	37,171
Fair Value	15,137
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	227,479
Fair Value	$ 149,273
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2049-03	[3],[4]
Investment Interest Rate	2.80%	[3],[4]
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-05	[3],[4]
Investment Interest Rate	0.00%	[3],[4]
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2061-05	[3],[4]
Investment Interest Rate	3.29%	[3],[4]
North America [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2047-03	[3],[4]
Investment Interest Rate	24.56%	[3],[4]
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Commercial
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 41,707
Fair Value	3,289
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	30,842
Fair Value	$ 3,941
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2049-03	[3],[4]
Investment Interest Rate	1.25%	[3],[4]
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2030-12	[3],[4]
Investment Interest Rate	0.00%	[3],[4]
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2061-05	[3],[4]
Investment Interest Rate	2.00%	[3],[4]
North America [Member] | Interest Only - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2047-09	[3],[4]
Investment Interest Rate	2.00%	[3],[4]
North America [Member] | Other Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Commercial
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 0
Investment Interest Rate	0.00%
Fair Value	$ 0
North America [Member] | Other Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2037-06	[3],[4]
North America [Member] | Other Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2045-07	[3],[4]
North America [Member] | Other Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2061-05	[3],[4]
North America [Member] | CLOs
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	20.82%	[2],[3],[4],[9]
Fair Value	$ 123,893
Investments at value, cost	139,424	[3],[4],[9]
North America [Member] | CLOs | Various Issuer [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	269,224
Fair Value	$ 123,893
North America [Member] | CLOs | Various Issuer [Member] | Minimum
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[3],[4],[9]
Investment Interest Rate	0.00%	[3],[4],[9]
North America [Member] | CLOs | Various Issuer [Member] | Maximum
Schedule of Investments [Line Items]
Investments maturity date	2118-10	[3],[4],[9]
Investment Interest Rate	10.54%	[3],[4],[9]
North America [Member] | Consumer loans and asset-backed securities backed by consumer loans
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	34.59%	[2],[3],[4],[5]
Fair Value	$ 205,877
Investments at value, cost	211,221	[3],[4],[5]
North America [Member] | Consumer loans and asset-backed securities backed by consumer loans | Various Issuer [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	233,602
Fair Value	$ 205,877
North America [Member] | Consumer loans and asset-backed securities backed by consumer loans | Various Issuer [Member] | Minimum | Consumer [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-01	[3],[4],[5],[10],[11]
Investment Interest Rate	5.31%	[3],[4],[5],[10],[11]
North America [Member] | Consumer loans and asset-backed securities backed by consumer loans | Various Issuer [Member] | Maximum | Consumer [Member]
Schedule of Investments [Line Items]
Investments maturity date	2023-12	[3],[4],[5],[10],[11]
Investment Interest Rate	76.50%	[3],[4],[5],[10],[11]
North America [Member] | Corporate debt securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	1.95%	[2],[3],[4]
Fair Value	$ 11,586
Investments at value, cost	$ 11,949	[3],[4]
North America [Member] | Corporate debt securities | Various Issuer [Member] | Communications [Member]
Schedule of Investments [Line Items]
Investments maturity date	2022-05	[3],[4]
Current Principal/Notional Amount	$ 938
Investment Interest Rate	0.00%
Fair Value	$ 824
North America [Member] | Corporate debt securities | Various Issuer [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Investments maturity date	2027-01	[3],[4]
Current Principal/Notional Amount	$ 3,342
Investment Interest Rate	6.69%
Fair Value	$ 3,141
North America [Member] | Corporate debt securities | Various Issuer [Member] | Energy [Member]
Schedule of Investments [Line Items]
Investments maturity date	2021-09	[3],[4]
Current Principal/Notional Amount	$ 2,080
Investment Interest Rate	4.63%
Fair Value	$ 1,877
North America [Member] | Corporate debt securities | Various Issuer [Member] | Industrial Sector [Member]
Schedule of Investments [Line Items]
Investments maturity date	2021-12	[3],[4]
Current Principal/Notional Amount	$ 1,755
Investment Interest Rate	3.75%
Fair Value	$ 1,742
North America [Member] | Corporate debt securities | Various Issuer [Member] | Technology Sector [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	4,570
Fair Value	$ 4,002
North America [Member] | Corporate debt securities | Various Issuer [Member] | Minimum | Technology Sector [Member]
Schedule of Investments [Line Items]
Investments maturity date	2020-05	[3],[4]
North America [Member] | Corporate debt securities | Various Issuer [Member] | Maximum | Technology Sector [Member]
Schedule of Investments [Line Items]
Investments maturity date	2022-05	[3],[4]
North America [Member] | Secured notes | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2057-11	[3],[4],[6]
Current Principal/Notional Amount	$ 17,608
Investment Interest Rate	5.00%	[3],[4],[6]
Fair Value	$ 10,917
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Mortgage-related Commercial
Schedule of Investments [Line Items]
Current Principal/Notional Amount	235,459
Fair Value	211,185
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	493,248
Fair Value	$ 496,830
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Minimum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2019-03	[3],[4],[5],[12]
Investment Interest Rate	4.31%	[3],[4],[5],[12]
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-03	[3],[4],[5],[13],[14]
Investment Interest Rate	2.00%	[3],[4],[5],[13],[14]
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Maximum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2037-10	[3],[4],[5],[12]
Investment Interest Rate	12.74%	[3],[4],[5],[12]
North America [Member] | Mortgage Loans [Member] | Various Issuer [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2058-12	[3],[4],[5],[13],[14]
Investment Interest Rate	15.00%	[3],[4],[5],[13],[14]
North America [Member] | Real estate owned | Single-Family Houses [Member] | Real estate-related [Member]
Schedule of Investments [Line Items]
Fair Value	$ 1,296
Number of Real Estate Properties | property	5
North America [Member] | Real estate owned | Commercial Property [Member] | Real estate-related [Member]
Schedule of Investments [Line Items]
Fair Value	$ 33,204
Number of Real Estate Properties | property	18
North America [Member] | Common stock
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.37%	[2],[3],[4]
Fair Value	$ 2,200
Investments at value, cost	2,482	[3],[4]
North America [Member] | Common stock | Exchange Traded Equity [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Fair Value	$ 25
Investment Owned, Balance, Shares | shares	24
North America [Member] | Common stock | Exchange Traded Equity [Member] | Financial [Member]
Schedule of Investments [Line Items]
Fair Value	$ 2,175
Investment Owned, Balance, Shares | shares	213
North America [Member] | Corporate equity securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	7.36%	[2],[3],[4]
Fair Value	$ 43,789
Investments at value, cost	39,587	[3],[4]
North America [Member] | Corporate equity securities | Non-Exchange Traded Corporate Equity [Member] | Communications [Member]
Schedule of Investments [Line Items]
Fair Value	$ 97
Investment Owned, Balance, Shares | shares	7
North America [Member] | Corporate equity securities | Non-Exchange Traded Corporate Equity [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Fair Value	$ 0
Investment Owned, Balance, Shares | shares	1,540
North America [Member] | Corporate equity securities | Non-Exchange Traded Corporate Equity [Member] | Diversified [Member]
Schedule of Investments [Line Items]
Fair Value	$ 1,433
Investment Owned, Balance, Shares | shares	144
North America [Member] | Corporate equity securities | Investment in unconsolidated entities | Consumer [Member]
Schedule of Investments [Line Items]
Fair Value	$ 4,045
North America [Member] | Corporate equity securities | Non-Exchange Traded Preferred Equity Investment in Consumer Loan Originators [Member] [Domain] | Consumer [Member]
Schedule of Investments [Line Items]
Fair Value	$ 3,000
Investment Owned, Balance, Shares | shares	3,000
North America [Member] | Corporate equity securities | Non-controlling Interest in Mortgage-related Private Partnership | Mortgage-related Commercial
Schedule of Investments [Line Items]
Fair Value	$ 1,147
North America [Member] | Corporate equity securities | Non-Exchange Traded Preferred Equity Investment in Mortgage Originators [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Fair Value	$ 27,317
Investment Owned, Balance, Shares | shares	23
North America [Member] | Corporate equity securities | Non-Exchange Traded Equity Investment in Mortgage Originators [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Fair Value	$ 6,750
Investment Owned, Balance, Shares | shares	9,818
North America [Member] | U.S. Treasury securities | U.S. Treasury Note, 2.75 Percent, Maturity Date 2023 04 [Member] | Government [Member]
Schedule of Investments [Line Items]
Investments maturity date	2023-04	[3],[4]
Current Principal/Notional Amount	$ 75
Investment Interest Rate	2.75%
Fair Value	$ 76
Europe [Member] | Principal And Interest - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	27.71%	[2],[3],[4]
Fair Value	$ 164,907
Investments at value, cost	172,661	[3],[4]
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Commercial
Schedule of Investments [Line Items]
Current Principal/Notional Amount	24,978
Fair Value	15,482
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	183,154
Fair Value	$ 149,425
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2020-10	[3],[4]
Investment Interest Rate	0.38%	[3],[4]
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Minimum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2025-06	[3],[4]
Investment Interest Rate	0.00%	[3],[4]
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Commercial
Schedule of Investments [Line Items]
Investments maturity date	2045-08	[3],[4]
Investment Interest Rate	4.29%	[3],[4]
Europe [Member] | Principal And Interest - Private Label Securities [Member] | Various Issuer [Member] | Maximum | Mortgage-related Residential [Member]
Schedule of Investments [Line Items]
Investments maturity date	2052-12	[3],[4]
Investment Interest Rate	5.50%	[3],[4]
Europe [Member] | Consumer loans and asset-backed securities backed by consumer loans
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.15%	[2],[3],[4],[5]
Fair Value	$ 884
Investments at value, cost	$ 761	[3],[4],[5]
Europe [Member] | Consumer loans and asset-backed securities backed by consumer loans | Various Issuer [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Investments maturity date	2030-12	[3],[4],[5]
Current Principal/Notional Amount	$ 3,540
Investment Interest Rate	0.00%
Fair Value	$ 884
Europe [Member] | Corporate debt securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	1.81%	[2],[3],[4]
Fair Value	$ 10,806
Investments at value, cost	$ 12,319	[3],[4]
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Investments maturity date	2019-12	[3],[4]
Current Principal/Notional Amount	$ 20,574
Investment Interest Rate	0.00%
Fair Value	$ 0
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Financial [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	11,235
Fair Value	$ 10,806
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Minimum | Financial [Member]
Schedule of Investments [Line Items]
Investments maturity date	2020-10	[3],[4]
Investment Interest Rate	0.00%	[3],[4]
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Minimum | Technology Sector [Member]
Schedule of Investments [Line Items]
Investment Interest Rate	0.00%	[3],[4]
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Maximum | Financial [Member]
Schedule of Investments [Line Items]
Investments maturity date	2022-11	[3],[4]
Investment Interest Rate	16.00%	[3],[4]
Europe [Member] | Corporate debt securities | Various Issuer [Member] | Maximum | Technology Sector [Member]
Schedule of Investments [Line Items]
Investment Interest Rate	4.38%	[3],[4]
Europe [Member] | Corporate equity securities
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	0.00%	[2],[3],[4]
Fair Value	$ 4
Investments at value, cost	5	[3],[4]
Europe [Member] | Corporate equity securities | Non-Exchange Traded Corporate Equity [Member] | Consumer [Member]
Schedule of Investments [Line Items]
Fair Value	$ 0
Investment Owned, Balance, Shares | shares	125
Europe [Member] | Corporate equity securities | Non-Exchange Traded Corporate Equity [Member] | Financial [Member]
Schedule of Investments [Line Items]
Fair Value	$ 4
Investment Owned, Balance, Shares | shares	0
[1]	At December 31, 2018, the Company's long investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 93.99% , 42.12% , and 107.55% of Total Equity, respectively.
[2]	Classification percentages are based on Total Equity.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[4]	The table below shows the Company's long investment ratings from Moody's, Standard and Poor's, or Fitch, as well as the Company's long investments that were unrated but guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association. Ratings tend to be a lagging credit indicator; as a result, the credit quality of the Company's long investment holdings may be lower than the credit quality implied based on the ratings listed below. In situations where an investment has a split rating, the lowest provided rating is used. The ratings descriptions include ratings qualified with a "+," "-," "1," "2," or "3." Rating Description Percent of Equity Unrated but Agency-Guaranteed 243.66 % Aaa/AAA/AAA 0.01 % Aa/AA/AA 0.63 % A/A/A 4.73 % Baa/BBB/BBB 1.84 % Ba/BB/BB or below 46.34 % Unrated 196.65 %
[5]	Loans and real estate owned are beneficially owned by the Company through participation certificates in the various trusts that hold such investments. See Note 9 to the Notes to Consolidated Financial Statements.
[6]	Represents the Company's investment in a related party. See Note 9 to the Notes to Consolidated Financial Statements
[7]	Number of properties not shown in thousands, represents actual number of properties owned.
[8]	Private trust 100% backed by interest in Government National Mortgage Association collateralized mortgage obligation certificates.
[9]	Includes investment in collateralized loan obligation notes in the amount of $50.8 million that were issued and are managed by related parties of the Company. See Note 9 to the Notes to Consolidated Financial Statements.
[10]	Includes investments in participation certificates related to loans held in a trust owned by a related party of Ellington Management Group, L.L.C. Through its participation certificates, the Company participates in the cash flows of the underlying loans held by the trust. At December 31, 2018 loans held in the related party trust for which the Company has participating interests in the cash flows, totaled $181.5 million . See Note 9 to the Notes to Consolidated Financial Statements.
[11]	Includes investments in participation certificates related to loans titled in the name of a related party of Ellington Management Group, L.L.C. Through its participation certificates, the Company has beneficial interests in the loan cash flows, net of servicing-related fees and expenses. At December 31, 2018 loans for which the Company has beneficial interests in the net cash flows, totaled $21.9 million . See Note 9 to the Notes to Consolidated Financial Statements.
[12]	Includes non-performing commercial mortgage loans in the amount of $47.3 million
[13]	As of December 31, 2018, the Company had residential mortgage loans that were in the process of foreclosure with a fair value of $9.1 million .
[14]	Includes $314.2 million of non-qualified mortgage loans that have been securitized and are held in a consolidated securitization trusts. See Note 6 to the Notes to Consolidated Financial Statements.

Consolidated Condensed Schedu_3

Consolidated Condensed Schedule of Investments (Repurchase Agreements) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Schedule of Investments [Line Items]
Repurchase agreements, at fair value	$ 61,274
Repurchase agreements, cost	61,274
Securities Purchased under Agreements to Resell [Member]
Schedule of Investments [Line Items]
Repurchase agreements, at fair value	$ 61,274
Investment owned as a percentage of equity	10.30%	[1],[2],[3]
Repurchase agreements, cost	$ 61,274	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $13,600 U.S. Treasury Note, Coupon 2.88%, Maturity Date 2021 11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 13,854
Investment Interest Rate	3.25%
Securities collateralized by par value	$ 13,600	[2],[3]
Coupon rate on underlying collateral	2.88%	[2],[3]
Maturity date of securities	2021-11	[2],[3]
Repurchase agreements, at fair value	$ 13,854
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $10,451 U.S. Treasury Note, Coupon 2.88%, Maturity Date 2023 10 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 10,712
Investment Interest Rate	3.15%
Securities collateralized by par value	$ 10,451	[2],[3]
Coupon rate on underlying collateral	2.88%	[2],[3]
Maturity date of securities	2023-10	[2],[3]
Repurchase agreements, at fair value	$ 10,712
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $10,102 Sovereign Government Bond, Coupon 0.75% Maturity Date 2021 07 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 10,365
Investment Interest Rate	0.75%
Securities collateralized by par value	$ 10,102	[2],[3]
Coupon rate on underlying collateral	0.75%	[2],[3]
Maturity date of securities	2021-07	[2],[3]
Repurchase agreements, at fair value	$ 10,365
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $9,161 Sovereign Government Bond, Coupon 2.75%, Maturity Date 2019 04 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 9,379
Investment Interest Rate	0.65%
Securities collateralized by par value	$ 9,161	[2],[3]
Coupon rate on underlying collateral	2.75%	[2],[3]
Maturity date of securities	2019-04	[2],[3]
Repurchase agreements, at fair value	$ 9,379
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $3,400 U.S. Treasury Note, Coupon 3.13%, Maturity Date 2028 11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 3,562
Investment Interest Rate	3.05%
Securities collateralized by par value	$ 3,400	[2],[3]
Coupon rate on underlying collateral	3.13%	[2],[3]
Maturity date of securities	2028-11	[2],[3]
Repurchase agreements, at fair value	$ 3,562
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | JP Morgan Securities LLC Collateralized by Par Value $2,800 U.S. Treasury Note, Coupon 2.88%, Maturity Date 2028 08 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 2,884
Investment Interest Rate	2.95%
Securities collateralized by par value	$ 2,800	[2],[3]
Coupon rate on underlying collateral	2.88%	[2],[3]
Maturity date of securities	2028-08	[2],[3]
Repurchase agreements, at fair value	$ 2,884
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Bank of America Securities Collateralized by Par Value $2,062 U.S. Treasury Note, Coupon 2.88%, Maturity Date 2023 11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 2,098
Investment Interest Rate	2.90%
Securities collateralized by par value	$ 2,062	[2],[3]
Coupon rate on underlying collateral	2.88%	[2],[3]
Maturity date of securities	2023-11	[2],[3]
Repurchase agreements, at fair value	$ 2,098
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Bank of America Securities Collateralized by Par Value $1,939 U.S. Treasury Note, Coupon 2.75%, Maturity Date 2023 08 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 1,975
Investment Interest Rate	2.90%
Securities collateralized by par value	$ 1,939	[2],[3]
Coupon rate on underlying collateral	2.75%	[2],[3]
Maturity date of securities	2023-08	[2],[3]
Repurchase agreements, at fair value	$ 1,975
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Barclays Capital Inc Collateralized by Par Value $1,900 Exchange-Traded Corporate Debt, Coupon 5.95%, Maturity Date 2026 12 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 1,710
Investment Interest Rate	1.65%
Securities collateralized by par value	$ 1,900	[2],[3]
Coupon rate on underlying collateral	5.95%	[2],[3]
Maturity date of securities	2026-12	[2],[3]
Repurchase agreements, at fair value	$ 1,710
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Bank of America Securities Collateralized by Par Value $1,355 U.S. Treasury Note, Coupon 2.75%, Maturity Date 2023 04 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 1,369
Investment Interest Rate	3.05%
Securities collateralized by par value	$ 1,355	[2],[3]
Coupon rate on underlying collateral	2.75%	[2],[3]
Maturity date of securities	2023-04	[2],[3]
Repurchase agreements, at fair value	$ 1,369
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Morgan Stanley Collateralized by Par Value $1,000 Exchange-Traded Corporate Debt, Coupon 5.95%, Maturity Date 2026 12 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 957
Investment Interest Rate	2.15%
Securities collateralized by par value	$ 1,000	[2],[3]
Coupon rate on underlying collateral	5.95%	[2],[3]
Maturity date of securities	2026-12	[2],[3]
Repurchase agreements, at fair value	$ 957
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Barclays Capital Inc Collateralized by Par Value $1,200 Exchange-Traded Corporate Debt, Coupon 9.88%, Maturity Date 2024 02 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 797
Investment Interest Rate	0.75%
Securities collateralized by par value	$ 1,200	[2],[3]
Coupon rate on underlying collateral	9.88%	[2],[3]
Maturity date of securities	2024-02	[2],[3]
Repurchase agreements, at fair value	$ 797
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Barclays Capital Inc Collateralized by Par Value $800 Exchange-Traded Corporate Debt, Coupon 9.88%, Maturity Date 2024 02 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 531
Investment Interest Rate	1.25%
Securities collateralized by par value	$ 800	[2],[3]
Coupon rate on underlying collateral	9.88%	[2],[3]
Maturity date of securities	2024-02	[2],[3]
Repurchase agreements, at fair value	$ 531
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | RBC Capital Markets LLC Collateralized by Par Value $500 Exchange-Traded Corporate Debt, Coupon 5.75%, Maturity Date 2022 10 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 525
Investment Interest Rate	2.05%
Securities collateralized by par value	$ 500	[2],[3]
Coupon rate on underlying collateral	5.75%	[2],[3]
Maturity date of securities	2022-10	[2],[3]
Repurchase agreements, at fair value	$ 525
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Bank of America Securities Collateralized by Par Value $463 U.S. Treasury Note, Coupon 2.63%, Maturity Date 2023 06 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 469
Investment Interest Rate	3.05%
Securities collateralized by par value	$ 463	[2],[3]
Coupon rate on underlying collateral	2.63%	[2],[3]
Maturity date of securities	2023-06	[2],[3]
Repurchase agreements, at fair value	$ 469
Investments maturity date	2019-01	[2],[3]
Securities Purchased under Agreements to Resell [Member] | Societe Generale Collateralized by Par Value $100 Exchange-Traded Corporate Debt, Coupon 5.95%, Maturity Date 2026 12 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	$ 87
Investment Interest Rate	1.85%
Securities collateralized by par value	$ 100	[2],[3]
Coupon rate on underlying collateral	5.95%	[2],[3]
Maturity date of securities	2026-12	[2],[3]
Repurchase agreements, at fair value	$ 87
Investments maturity date	2019-01	[2],[3]
[1]	Classification percentages are based on Total Equity.
[2]	In general, securities received pursuant to repurchase agreements were delivered to counterparties in short sale transactions.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.

Consolidated Condensed Schedu_4

Consolidated Condensed Schedule of Investments (Investments Sold Short) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)shares
Investments Sold, Not yet Purchased [Line Items]
Investments sold short, at fair value-	$ (850,577)
Proceeds from investments sold short	$ (844,604)
TBA - Fixed Rate Agency Securities Sold Short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(129.87%)	[1],[2],[3]
Current Principal/Notional Amount	$ (753,697)
Investments sold short, at fair value-	(772,964)
Proceeds from investments sold short	(766,777)	[1],[3]
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (30 Year) 4 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (156,590)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	4.50%
Investments sold short, at fair value-	$ (162,119)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Government National Mortgage Association (30 Year) 4 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (117,590)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	4.50%
Investments sold short, at fair value-	$ (121,637)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal Home Loan Mortgage Corporation (30 Year) 4 Point 00 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (107,397)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	4.00%
Investments sold short, at fair value-	$ (109,465)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (30 Year) 5 Point 00 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (87,817)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	5.00%
Investments sold short, at fair value-	$ (91,971)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Government National Mortgage Association (30 Year) 4 Point 00 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (86,893)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	4.00%
Investments sold short, at fair value-	$ (88,994)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (30 Year) 3 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (76,912)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	3.50%
Investments sold short, at fair value-	$ (76,891)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Government National Mortgage Association (30 Year) 3 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (32,260)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	3.50%
Investments sold short, at fair value-	$ (32,484)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (15 Year) 3 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (26,530)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	3.50%
Investments sold short, at fair value-	$ (26,859)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal Home Loan Mortgage Corporation (30 Year) 4 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (24,841)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	4.50%
Investments sold short, at fair value-	$ (25,707)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (30 Year) 3 Point 00 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (16,557)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	3.00%
Investments sold short, at fair value-	$ (16,153)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (15 Year) 3 Point 00 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (13,450)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	3.00%
Investments sold short, at fair value-	$ (13,426)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association (30 Year) 5 Point 50 Percent [Member] | Mortgage-related Residential [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (6,860)
Investments maturity date	2019-01	[1],[3]
Investment Interest Rate	5.50%
Investments sold short, at fair value-	$ (7,258)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal National Mortgage Association [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(66.31%)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Federal Home Loan Mortgage Corporation [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(22.71%)
TBA - Fixed Rate Agency Securities Sold Short [Member] | Government National Mortgage Association [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(40.85%)
US Government Debt Securities [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(5.85%)	[2],[3]
Investments sold short, at fair value-	$ (34,817)
Proceeds from investments sold short	(34,410)	[3]
US Government Debt Securities [Member] | U.S. Treasury Note, 2.88 Percent, Maturity Date 2021 11 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (13,600)
Investments maturity date	2021-11	[3]
Investment Interest Rate	2.88%
Investments sold short, at fair value-	$ (13,754)
US Government Debt Securities [Member] | U.S. Treasury Note, 2.88 Percent, Maturity Date 2023 10 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (10,451)
Investments maturity date	2023-10	[3]
Investment Interest Rate	2.88%
Investments sold short, at fair value-	$ (10,631)
US Government Debt Securities [Member] | U.S. Treasury Note, 3.13 Percent, Maturity Date 2028 11 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (3,400)
Investments maturity date	2028-11	[3]
Investment Interest Rate	3.13%
Investments sold short, at fair value-	$ (3,528)
US Government Debt Securities [Member] | U.S. Treasury Note, 2.88 Percent, Maturity Date 2028 08 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (2,800)
Investments maturity date	2028-08	[3]
Investment Interest Rate	2.88%
Investments sold short, at fair value-	$ (2,844)
US Government Debt Securities [Member] | U.S. Treasury Note, 2.88 Percent, Maturity Date 2023 11 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (2,062)
Investments maturity date	2023-11	[3]
Investment Interest Rate	2.88%
Investments sold short, at fair value-	$ (2,098)
US Government Debt Securities [Member] | U.S. Treasury Note, 2.75 Percent, Maturity Date 2023 08 [Member] | Government [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (1,939)
Investments maturity date	2023-08	[3]
Investment Interest Rate	2.75%
Investments sold short, at fair value-	$ (1,962)
Debt Security, Government, Non-US [Member] | Europe [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(3.25%)	[2],[3]
Investments sold short, at fair value-	$ (19,334)
Proceeds from investments sold short	(19,545)	[3]
Debt Security, Government, Non-US [Member] | European Sovereign Bond [Member] | Government [Member] | Europe [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	(19,006)
Investments sold short, at fair value-	$ (19,334)
Debt Security, Government, Non-US [Member] | European Sovereign Bond [Member] | Government [Member] | Europe [Member] | Minimum
Investments Sold, Not yet Purchased [Line Items]
Investments maturity date	2019-04	[3]
Investment Interest Rate	0.75%	[3]
Debt Security, Government, Non-US [Member] | European Sovereign Bond [Member] | Government [Member] | Europe [Member] | Maximum
Investments Sold, Not yet Purchased [Line Items]
Investments maturity date	2021-07	[3]
Investment Interest Rate	2.75%	[3]
Government debt
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(9.10%)	[2],[3]
Investments sold short, at fair value-	$ (54,151)
Proceeds from investments sold short	$ (53,955)	[3]
Common stock
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(2.84%)	[2],[3]
Investments sold short, at fair value-	$ (16,933)
Proceeds from investments sold short	(17,164)	[3]
Common stock | Exchange Traded Equity [Member] | Financial [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Investments sold short, at fair value-	$ (16,933)
Investment Sold, Not yet Purchased, Balance, Shares | shares	(277)
Corporate debt securities
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(1.10%)	[2],[3]
Investments sold short, at fair value-	$ (6,529)
Proceeds from investments sold short	(6,708)	[3]
Corporate debt securities | Various Issuer [Member] | Communications [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (1,730)
Investments maturity date	2023-09	[3]
Investment Interest Rate	4.25%
Investments sold short, at fair value-	$ (1,734)
Corporate debt securities | Various Issuer [Member] | Consumer [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (500)
Investments maturity date	2022-10	[3]
Investment Interest Rate	5.75%
Investments sold short, at fair value-	$ (500)
Corporate debt securities | Various Issuer [Member] | Energy [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (2,000)
Investments maturity date	2024-02	[3]
Investment Interest Rate	9.88%
Investments sold short, at fair value-	$ (1,230)
Corporate debt securities | Various Issuer [Member] | Financial [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	(3,600)
Investments sold short, at fair value-	$ (2,810)
Corporate debt securities | Various Issuer [Member] | Financial [Member] | North America [Member] | Minimum
Investments Sold, Not yet Purchased [Line Items]
Investments maturity date	2026-12	[3]
Investment Interest Rate	4.70%	[3]
Corporate debt securities | Various Issuer [Member] | Financial [Member] | North America [Member] | Maximum
Investments Sold, Not yet Purchased [Line Items]
Investments maturity date	2027-06	[3]
Investment Interest Rate	5.95%	[3]
Corporate debt securities | Various Issuer [Member] | Technology Sector [Member] | North America [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	$ (288)
Investments maturity date	2023-04	[3]
Investment Interest Rate	4.95%
Investments sold short, at fair value-	$ (255)
Investments Sold Short
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	(142.91%)	[2],[3]
Investments sold short, at fair value-	$ (850,577)
Proceeds from investments sold short	$ (844,604)	[3]
[1]	At December 31, 2018, the Company's short investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 66.31% , 22.71% , and 40.85% of Total Equity, respectively.
[2]	Classification percentages are based on Total Equity.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.

Consolidated Condensed Schedu_5

Consolidated Condensed Schedule of Investments (Financial Derivatives) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)contract
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 20,001
Financial derivatives–liabilities, at fair value-	(20,806)
Net cost	22,526
Net proceeds	$ (19,019)
Short | Foreign Exchange Future [Member]
Investment Holdings, Other than Securities [Line Items]
Number of contracts | contract	411
Short | US Treasury Note Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Number of contracts | contract	1,516
Financial Derivatives - Assets
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 20,001
Investment owned as a percentage of equity	3.36%	[1],[2]
Net cost	$ 22,526	[2]
Financial Derivatives - Assets | Swap [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 19,995
Investment owned as a percentage of equity	3.36%	[1],[2]
Net cost	$ 22,524	[2]
Financial Derivatives - Assets | Futures
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 0
Investment owned as a percentage of equity	0.00%	[1],[2]
Financial Derivatives - Assets | Options
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 0
Investment owned as a percentage of equity	0.00%	[1],[2]
Net cost	$ 2	[2]
Financial Derivatives - Assets | Forwards
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 6
Investment owned as a percentage of equity	0.00%	[1],[2]
Financial Derivatives - Assets | Long | Credit default swaps on asset-backed indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 689
Financial derivatives–assets, at fair value-	$ 7
Financial Derivatives - Assets | Long | Credit default swaps on asset-backed indices | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2037-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on asset-backed indices | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date		[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bond indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 47,815
Financial derivatives–assets, at fair value-	$ 733
Financial Derivatives - Assets | Long | Credit default swaps on corporate bond indices | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bond indices | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 1,003
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Basic Materials [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	4
Financial derivatives–assets, at fair value-	$ 0
Investment maturity date	2022-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 3,090
Financial derivatives–assets, at fair value-	$ 18
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 10,655
Financial derivatives–assets, at fair value-	$ 868
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Financial [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 930
Financial derivatives–assets, at fair value-	$ 104
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Industrial Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 485
Financial derivatives–assets, at fair value-	$ 13
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[3]
Financial Derivatives - Assets | Long | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[3]
Financial Derivatives - Assets | Long | Interest rate swaps | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 29,198
Financial derivatives–assets, at fair value-	$ 61
Financial Derivatives - Assets | Long | Interest rate swaps | Minimum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-01	[2],[4]
Financial Derivatives - Assets | Long | Interest rate swaps | Maximum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-02	[2],[4]
Financial Derivatives - Assets | Long | Interest Rate Cap [Member] | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 51,545
Financial derivatives–assets, at fair value-	$ 0
Investment maturity date	2019-05	[2],[5]
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (56,207)
Financial derivatives–assets, at fair value-	$ 8,085
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed indices | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2046-05	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed indices | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2059-11	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 1,470
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Basic Materials [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2021-12	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Basic Materials [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (906)
Financial derivatives–assets, at fair value-	$ 226
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2021-12	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (2,065)
Financial derivatives–assets, at fair value-	$ 30
Investment maturity date	2020-03	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (7,610)
Financial derivatives–assets, at fair value-	$ 950
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-06	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Industrial Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (2,074)
Financial derivatives–assets, at fair value-	25
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	(4,070)
Financial derivatives–assets, at fair value-	$ 239
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2022-06	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed securities | North America [Member] | Mortgage-related Residential [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (3,186)
Financial derivatives–assets, at fair value-	$ 1,472
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed securities | North America [Member] | Mortgage-related Residential [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2035-06	[2],[6]
Financial Derivatives - Assets | Short | Credit default swaps on asset-backed securities | North America [Member] | Mortgage-related Residential [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2035-12	[2],[6]
Financial Derivatives - Assets | Short | Interest rate swaps | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (353,741)
Financial derivatives–assets, at fair value-	$ 7,163
Financial Derivatives - Assets | Short | Interest rate swaps | Minimum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-03	[2],[7]
Financial Derivatives - Assets | Short | Interest rate swaps | Maximum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2045-12	[2],[7]
Financial Derivatives - Assets | Short | Total return swaps | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–assets, at fair value-	$ 1
Financial Derivatives - Assets | Short | Total return swaps | North America [Member] | Financial [Member] | Equity Market Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	(17,740)
Financial derivatives–assets, at fair value-	$ 1
Financial Derivatives - Assets | Short | Total return swaps | North America [Member] | Financial [Member] | Minimum | Equity Market Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-07	[2],[8]
Financial Derivatives - Assets | Short | Total return swaps | North America [Member] | Financial [Member] | Maximum | Equity Market Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-10	[2],[8]
Financial Derivatives - Assets | Short | US Treasury Note Futures [Member] | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (151,600)
Financial derivatives–assets, at fair value-	$ 0
Investment maturity date	2019-03	[2],[9]
Financial Derivatives - Assets | Short | Forwards | Currency risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (802)
Financial derivatives–assets, at fair value-	$ 6
Investment maturity date	2019-03	[2],[10]
Financial Derivatives - Liabilities
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 20,806
Investment owned as a percentage of equity	(3.50%)	[1],[2]
Net proceeds	$ (19,019)	[2]
Financial Derivatives - Liabilities | Swap [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 20,331
Investment owned as a percentage of equity	(3.42%)	[1],[2]
Net proceeds	$ (19,019)	[2]
Financial Derivatives - Liabilities | Futures
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 355
Investment owned as a percentage of equity	(0.06%)	[1],[2]
Financial Derivatives - Liabilities | Forwards
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 120
Investment owned as a percentage of equity	(0.02%)	[1],[2]
Financial Derivatives - Liabilities | Long | Credit default swaps on asset-backed indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 14,838
Financial derivatives–liabilities, at fair value-	$ 2,125
Financial Derivatives - Liabilities | Long | Credit default swaps on asset-backed indices | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2049-03	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on asset-backed indices | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2060-11	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bond indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 2,330
Financial derivatives–liabilities, at fair value-	$ 1,467
Investment maturity date	2023-12	[2]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 2,482
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Basic Materials [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	2,000
Financial derivatives–liabilities, at fair value-	$ 25
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 2,313
Financial derivatives–liabilities, at fair value-	$ 396
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2022-06	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 3,741
Financial derivatives–liabilities, at fair value-	$ 62
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-03	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2021-06	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 5,144
Financial derivatives–liabilities, at fair value-	$ 1,885
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Energy [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 1,953
Financial derivatives–liabilities, at fair value-	$ 114
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[3]
Financial Derivatives - Liabilities | Long | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-06	[2],[3]
Financial Derivatives - Liabilities | Long | Interest rate swaps | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ 113,809
Financial derivatives–liabilities, at fair value-	$ 1,987
Financial Derivatives - Liabilities | Long | Interest rate swaps | Minimum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2021-06	[2],[4]
Financial Derivatives - Liabilities | Long | Interest rate swaps | Maximum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2029-01	[2],[4]
Financial Derivatives - Liabilities | Long | Recovery swaps | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 8
Financial Derivatives - Liabilities | Long | Recovery swaps | North America [Member] | Consumer [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	2,600
Financial derivatives–liabilities, at fair value-	$ 8
Investment maturity date	2019-06	[2],[11]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bond indices | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (279,163)
Financial derivatives–liabilities, at fair value-	$ 10,090
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bond indices | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-06	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bond indices | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member]
Investment Holdings, Other than Securities [Line Items]
Financial derivatives–liabilities, at fair value-	$ 756
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Basic Materials [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	(1,180)
Financial derivatives–liabilities, at fair value-	$ 57
Investment maturity date	2019-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (3,910)
Financial derivatives–liabilities, at fair value-	$ 11
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Communications [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (12,830)
Financial derivatives–liabilities, at fair value-	$ 567
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Minimum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-06	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Consumer [Member] | Maximum | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Financial [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (930)
Financial derivatives–liabilities, at fair value-	$ 104
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Industrial Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (485)
Financial derivatives–liabilities, at fair value-	$ 13
Investment maturity date	2023-12	[2],[6]
Financial Derivatives - Liabilities | Short | Credit default swaps on corporate bonds | North America [Member] | Technology Sector [Member] | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (1,160)
Financial derivatives–liabilities, at fair value-	$ 4
Investment maturity date	2019-06	[2],[6]
Financial Derivatives - Liabilities | Short | Interest rate swaps | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (71,672)
Financial derivatives–liabilities, at fair value-	$ 1,406
Financial Derivatives - Liabilities | Short | Interest rate swaps | Minimum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-05	[2],[7]
Financial Derivatives - Liabilities | Short | Interest rate swaps | Maximum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2028-11	[2],[7]
Financial Derivatives - Liabilities | Short | Interest Rate Swaps Variable rates only [Member] | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (12,900)
Financial derivatives–liabilities, at fair value-	$ 4
Investment maturity date	2019-06	[2],[12]
Financial Derivatives - Liabilities | Short | Total return swaps | Credit Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (11,230)
Financial derivatives–liabilities, at fair value-	$ 6
Investment maturity date	2019-03	[2],[13]
Financial Derivatives - Liabilities | Short | Eurodollar futures | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (98,000)
Financial derivatives–liabilities, at fair value-	$ 53
Number of contracts per every $1,000,000 in notional value | contract	1
Financial Derivatives - Liabilities | Short | Eurodollar futures | Minimum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2019-03	[2],[14]
Financial Derivatives - Liabilities | Short | Eurodollar futures | Maximum | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Investment maturity date	2020-06	[2],[14]
Financial Derivatives - Liabilities | Short | Foreign Exchange Future [Member] | Interest Rate Risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (47,931)
Financial derivatives–liabilities, at fair value-	$ 302
Investment maturity date	2019-03	[2]
Financial Derivatives - Liabilities | Short | Forwards | Currency risk [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative notional	$ (16,497)
Financial derivatives–liabilities, at fair value-	$ 120
Investment maturity date	2019-03	[2],[10]
[1]	Classification percentages are based on Total Equity.
[2]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[3]	For long credit default swaps, the Company sold protection.
[4]	For long interest rate swap contracts, the Company pays a floating rate and receives a fixed rate.
[5]	Notional value represents the amount on which interest payments are calculated to the extent the market interest rate exceeds the rate cap on the contract.
[6]	For short credit default swaps, the Company purchased protection.
[7]	For short interest rate swap contracts, the Company pays a fixed rate and receives a floating rate.
[8]	Notional value represents number of underlying shares multiplied by the closing price of the underlying security.
[9]	Notional value represents the total face amount of U.S. Treasury securities underlying all contracts held. As of December 31, 2018, a total of 1,516 contracts were held.
[10]	Notional value represents U.S. Dollars to be received by the Company at the maturity of the forward contract.
[11]	For long recovery swaps the Company receives a specified recovery rate in exchange for the actual recovery rate on the underlying.
[12]	Represents interest rate "basis" swaps whereby the Company pays one floating rate and receives a different floating rate.
[13]	Notional value represents the number of underlying index units multiplied by the reference price.
[14]	Every $1,000,000 in notional value represents one contract.

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2019		Dec. 31, 2018
Net Interest Income
Interest income	$ 45,353		$ 39,985		$ 38,547		$ 36,016		$ 159,901		$ 131,027	[1]
Interest expense	(21,205)		(19,954)		(19,702)		(17,618)		(78,479)		(56,707)
Total net interest income	24,148		20,031		18,845		18,398		81,422
Other income											4,014
Total investment income											135,041
Other Income (Loss)
Realized gains (losses) on securities and loans, net									(12,785)
Realized (gains) losses on financial derivatives, net									(30,912)
Realized gains (losses) on real estate owned, net									2,327
Unrealized gains (losses) on securities and loans, net									54,478
Unrealized gains (losses) on financial derivatives, net									(5,338)
Unrealized gains (losses) on real estate owned, net									(1,279)
Other, net	1,001		539		1,808		2,002		5,350
Total other income (loss)	(126)		3,682		2,781		5,504		11,841
Expenses
Base management fee to affiliate (Net of fee rebates)	2,663	[2]	1,942	[2]	1,661	[2]	1,722	[2]	7,988	[2]	7,573	[3]
Incentive Fee Expense	116		0		0		0		116		715
Other investment related expenses
Servicing expense	2,055		1,940		2,244		2,393		8,632		7,715
Debt issuance costs related to Other secured borrowings, at fair value	1,865		0		1,671		0		3,536		1,647
Other	1,941		1,347		1,238		1,083		5,609		7,592
Professional fees	1,021		698		1,178		1,956		4,853		3,902
Administration fees											734
Compensation expense	962		712		903		1,072		3,649		2,233
Insurance expense											487
Directors' fees and expenses											298
Share-based long term incentive plan unit expense									475		415
Other expenses	1,160		1,156		1,053		985		4,354		1,898
Total expenses	11,783		7,795		9,948		9,211		38,737		91,916
NET INVESTMENT INCOME											43,125
Net realized gain (loss) on:
Investments											25,421
Financial derivatives, excluding currency hedges											(2,639)
Financial derivatives—currency hedges											4,475
Foreign currency transactions									(2,392)		4,131
Total net realized gain (loss)											31,388
Change in net unrealized gain (loss) on:
Investments											(25,947)
Other secured borrowings											758
Financial derivatives, excluding currency hedges											7,093
Financial derivatives—currency hedges											565
Foreign currency translation											(7,071)
Net unrealized gain (loss)											(24,602)
NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION											6,786
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS											49,911
Net Income (Loss) before Income Tax Expense (Benefit) and Earnings from Investments in Unconsolidated Entities	12,239		15,918		11,678		14,691		54,526
Income Tax Expense (Benefit)	1,180		2		376		0		1,558
Earnings from investments in unconsolidated entities	3,262		2,796		2,354		1,797		10,209
Net Income (Loss)	14,321		18,712		13,656		16,488		63,177
Net income (loss) attributable to non-controlling interests	1,733		1,419		1,012		1,080		5,244		3,235
Preferred Stock Dividends, Income Statement Impact	1,466		0		0		0		1,466
Net Income (Loss) Attributable to Common Stockholders	$ 11,122		$ 17,293		$ 12,644		$ 15,408		$ 56,467		$ 46,676
Net Income (Loss) per Share of Common Stock:
Basic and Diluted (USD per share)	$ 0.31		$ 0.53		$ 0.43		$ 0.52		$ 1.76		$ 1.52
[1]	Includes interest income and interest expense of a consolidated securitization trust of $6.0 million and $3.6 million , respectively, for the year ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trust.
[2]	See Note 13 for further details on management fee rebates.
[3]	See Note 9 for further details on management fee rebates.

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019		Dec. 31, 2018
Management Fee Expense, Rebates	$ 509	$ 503	$ 508	$ 447	$ 400	$ 400	$ 300	$ 300	$ 2,000	[1]
Interest income	45,353	39,985	38,547	36,016	35,694	35,300	31,941	28,092	159,901		$ 131,027	[2]
Interest Expense	$ 21,205	$ 19,954	$ 19,702	$ 17,618	16,083	15,678	13,383	11,562	$ 78,479		56,707
Management fee rebate											1,380
Consolidated Entities [Member]
Interest income					2,100	1,300	1,300	1,300			6,000
Interest Expense					$ 1,200	$ 700	$ 800	$ 900			$ 3,600
[1]	See Note 13 for further details on management fee rebates.
[2]	Includes interest income and interest expense of a consolidated securitization trust of $6.0 million and $3.6 million , respectively, for the year ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trust.

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Equity - USD ($) $ in Thousands		Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Retained Earnings/(Accumulated Deficit)	Non-controlling Interest	Preferred Stock [Member]	Preferred Stock [Member]Total Stockholders' Equity	Preferred Stock [Member]Preferred Stock [Member]	Common Stock		Common StockTotal Stockholders' Equity	Common StockCommon Stock	Common StockAdditional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2017		31,335,938
Beginning balance at Dec. 31, 2017		$ 620,961	$ 600,099				$ 20,862
CHANGE IN SHAREHOLDERS’ EQUITY RESULTING FROM OPERATIONS
Shares Issued As Payment of Incentive Fee		71	71
Contributions from non-controlling interests		21,532					21,532
Dividends		50,736	50,388				348				$ 49,576
Distributions to non-controlling interests		(23,853)					(23,853)
Adjustment to non-controlling interests		$ 0	(369)				369
Stock issued during period, shares, conversion of units		(3,334)
Repurchase of shares of common stock (in shares)		(1,547,148)
Repurchase of shares of common stock		$ (23,131)	(23,131)
Share-based long term incentive plan unit redemption and distribution		0	(9,537)				9,537
Share-based long term incentive plan unit awards		$ 415	412				3
Ending balance (in shares) at Dec. 31, 2018		29,796,601		29,796,601
Ending balance at Dec. 31, 2018		$ 595,170	563,833		$ 665,356	$ (101,523)	31,337
Change In Shareholders' Equity Resulting From Operations [Abstract]
Net investment income		43,125
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions		31,388
Change in net unrealized gain (loss) on investments, other secured borrowings, financial derivatives, and foreign currency translation		(24,602)
Net increase in equity resulting from operations		49,911	46,676				3,235
Net increase (decrease) in equity from transactions		(75,702)	(82,942)				7,240
Net increase (decrease) in equity		$ (25,791)	(36,266)				10,475
Dividends declared (in usd per share)		$ 1.64
Share conversion	[1]			$ 30	(30)
Net income (loss)		$ 63,177	57,933			57,933	5,244
Stock Issued During Period, Shares, New Issues		8,855,000									8,855,000	[2]
Stock Issued During Period, Value, New Issues	[2]							$ 111,034	$ 111,034	$ 111,034	$ 156,328		$ 156,328	$ 9	$ 156,319
Contributions from non-controlling interests		$ 27,650					27,650
Dividends		59,824									$ 58,499
Dividends	[3]	(59,824)	(58,499)			(58,499)	(1,325)
Dividends, Preferred Stock, Cash	[4]	1,466	1,466			1,466
Distributions to non-controlling interests		$ (23,063)					(23,063)
Adjustment to non-controlling interests			(392)		(392)		392
Stock issued during period, shares, conversion of units				47,167
Stock Issued During Period, Value, Conversion of Units			(812)		(812)		(812)
Repurchase of shares of common stock (in shares)		(50,825)		(50,825)
Repurchase of shares of common stock		$ (782)	(782)		(782)
Share-based long term incentive plan unit awards		$ 475	464		464		11
Ending balance (in shares) at Dec. 31, 2019		38,647,943		38,647,943
Ending balance at Dec. 31, 2019		$ 868,699	$ 829,265	$ 39	$ 821,747	$ (103,555)	$ 39,434
Change In Shareholders' Equity Resulting From Operations [Abstract]
Dividends declared (in usd per share)		$ 1.81
Preferred Stock, Dividends Per Share, Declared		$ 0.45938
Preferred Stock, Value, Outstanding		$ 111,034
[1]	See Note 1 for further details on the share conversion.
[2]	Net of underwriters' discounts and offering costs.
[3]	For the year ended December 31, 2019, dividends totaling $1.81 per share of common stock and convertible unit outstanding, were declared.
[4]	For the year ended December 31, 2019, dividends totaling $0.45938 per share of preferred stock were declared.

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)		Dec. 31, 2018USD ($)
Statement of Cash Flows [Abstract]
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS			$ 49,911
Net Income (Loss)	$ 63,177
Reconciliation of the net increase (decrease) in equity resulting from operations to net cash provided by (used in) operating activities:
Net realized (gain) loss on investments, financial derivatives, and foreign currency transactions			(25,368)
Change in net unrealized (gain) loss on investments, other secured borrowings, financial derivatives, and foreign currency translation			(26,318)
Amortization of premiums and accretion of discounts, net	48,132		45,895
Realized (gains) losses on securities and loans, net	12,785
Realized (gains) losses on financial derivatives, net	30,912
Realized (gains) losses on real estate owned, net	(2,327)
Unrealized (gains) losses on securities and loans, net	(54,478)
Unrealized (gains) losses on financial derivatives, net	5,338
Unrealized (gains) losses on real estate owned, net	1,279
Unrealized (gains) losses other, net	645
Realized (gains) losses other, net—foreign currency transaction	2,392		(4,131)
Unrealized (gains) losses other, net—foreign currency translation	(3,310)
Purchase of investments			(3,350,398)
Proceeds from disposition of investments			1,868,532
Proceeds from principal payments of investments			497,858
Repurchase of investments sold short			(2,457,148)
Payments on financial derivatives			(119,490)
Proceeds from financial derivatives			121,904
Amortization of deferred debt issuance costs	263		263
Shares Issued In Connection With Incentive Fee Payment			71
Share-based long term incentive plan unit expense	475		415
Interest income related to consolidated securitization trust	(16,034)	[1]	4,697	[1]
Interest expense related to consolidated securitization trust(1)	15,136	[1]	4,313	[1]
Debt issuance costs related to Other secured borrowings, at fair value(1)	1,381
(Earnings) losses from investments in unconsolidated entities	(10,209)
Repurchase agreements			94,675
(Increase) decrease in assets:
Increase decrease in interest and principal receivable	(15,449)
Receivable for securities sold and financial derivatives			(304,826)
Due from brokers, net			68,610
Interest and principal receivable			(7,988)
Other assets	(3,663)		28,234
Increase (decrease) in liabilities:
Due to brokers			3,832
Payable for securities purchased and financial derivatives			285,708
Base management fee payable to affiliate	919		(369)
Accounts payable and accrued expenses			1,838
Incentive fee payable to affiliate	116
Other liabilities			(17)
Interest and dividends payable			1,255
Increase (decrease) in interest payable	161
Increase (decrease) in accrued expenses and other liabilities	1,607
Net cash provided by (used in) operating activities	79,248		(494,181)
Cash Flows from Investing Activities:
Purchase of securities	(3,057,372)
Purchase of loans	(1,040,006)
Capital improvements of real estate owned	(240)
Proceeds from disposition of securities	1,838,182
Proceeds from disposition of loans	28,878
Contributions to investments in unconsolidated entities	(42,124)
Distributions from investments in unconsolidated entities	49,758
Proceeds from disposition of real estate owned	24,059
Proceeds from principal payments of securities	275,221
Proceeds from principal payments of loans	304,953
Proceeds from investments sold short	645,553		2,674,841
Repurchase of securities sold short	(650,576)
Payments on financial derivatives	(90,057)
Proceeds from financial derivatives	58,578
Payments made on reverse repurchase agreements	(7,050,581)
Proceeds from reverse repurchase agreements	7,038,216
Due from brokers, net	6,483
Due to brokers, net	(3,458)
Net cash provided by (used in) investing activities	(1,664,533)
Cash flows provided by (used in) financing activities:
Repurchase of common stock	(782)		(23,131)
Proceeds from Issuance of Preferred Stock and Preference Stock	111,378
Payments of Stock Issuance Costs	(712)
Dividends paid	(54,312)		(50,736)
Proceeds from Issuance of Common Stock	156,742
Contributions from non-controlling interests	27,650		21,532
Distributions to non-controlling interests	(23,063)		(23,853)
Proceeds from issuance of securitized debt	97,642		100,010
Proceeds from issuance of Other secured borrowings	250,666		102,706
Repayments of Secured Debt	(62,608)
Principal payment on securitized debt	(61,408)		(43,819)
Debt issuance costs related to Other secured borrowings at fair value financing activities			(775)
Borrowings under repurchase agreements	9,047,746		8,078,468
Repayments of repurchase agreements	(7,862,227)		(7,668,798)
Due from brokers, net	(13,676)
Due to brokers, net	(355)
Net cash provided by (used in) financing activities	1,612,681		491,604
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	27,396		(2,577)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	45,081		47,658
Cash, Cash Equivalents, and Restricted Cash, End of Period	72,477		45,081
Supplemental disclosure of cash flow information:
Interest paid	78,754		55,649
Shares Issued In Connection With Incentive Fee Payment Non-Cash			71
Income tax paid	189
Dividends payable	6,978
Share-based long term incentive plan unit awards (non-cash)	475		415
Transfers from mortgage loans to real estate owned (non-cash)	22,577
Aggregate TBA trade activity (buys sells) (non-cash)			29,752,907
Purchase of Investments Non Cash	(2,975)		17,424
Distributions from investments in unconsolidated entities	2,975
Proceeds from principal payments of investments (non-cash)	119,683		49,731
Proceeds from the Disposition of Investments Non Cash			17,424
Principal payments on Other secured borrowings, at fair value (non-cash)	(119,683)		(49,731)
Repayments of repurchase agreement (non-cash)	(226,945)
Proceeds received from Other secured borrowings, at fair value (non-cash)	227,428		120,625
Repayment of senior notes (non-cash)	(86,000)
Issuance of senior notes (non-cash)	$ 86,000
Repayments of reverse repurchase agreements non cash			(120,136)
Debt issuance costs related to Other secured borrowings at fair value non cash			(872)
Share based long term incentive plan unit redemption non cash			(9,537)
Contribution from non-controlling interest (non-cash)			$ 9,537
[1]	Related to non-qualified mortgage securitization transactions. See Note 6 for further details.

Organization and Investment Obj

Organization and Investment Objective	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Investment Objective	Organization and Investment Objective Ellington Financial Inc., formerly known as Ellington Financial LLC, was originally formed as a Delaware limited liability company on July 9, 2007 and commenced operations on August 17, 2007. On February 28, 2019, Ellington Financial LLC filed a certificate of conversion with the Secretary of State of the State of Delaware (the "Secretary") to convert from a Delaware limited liability company to a Delaware corporation (the "Conversion") and change its name to Ellington Financial Inc. The Conversion became effective on March 1, 2019, and upon effectiveness, each of Ellington Financial LLC's existing common shares representing limited liability company interests, no par value, converted into one issued and outstanding, fully paid and nonassessable share of common stock, $0.001 par value per share, of Ellington Financial Inc. In connection with the Conversion, Ellington Financial Inc.'s Board of Directors (the "Board of Directors") approved Ellington Financial Inc.'s Certificate of Incorporation (which was also filed with the Secretary) and Bylaws. Ellington Financial Operating Partnership LLC (the "Operating Partnership"), a 98.4% owned consolidated subsidiary of Ellington Financial Inc., was formed as a Delaware limited liability company on December 14, 2012 and commenced operations on January 1, 2013. All of Ellington Financial Inc.'s operations and business activities are conducted through the Operating Partnership. Ellington Financial Inc., the Operating Partnership, and their consolidated subsidiaries are hereafter collectively referred to as the "Company." All intercompany accounts are eliminated in consolidation. The Company conducts its operations to qualify and be taxed as a real estate investment trust, or "REIT," under the Internal Revenue Code of 1986, as amended (the "Code"), and has elected to be taxed as a corporation effective January 1, 2019. The Company will elect to be taxed as a REIT for U.S. federal income tax purposes upon the filing of its tax return for the taxable ending December 31, 2019, which is expected to be filed in 2020. In anticipation of the Company's intended election to be taxed as a REIT under the Code beginning with its 2019 taxable year (the "REIT Election"), the Company implemented an internal restructuring as of December 31, 2018. As part of this restructuring, the Company moved certain of its non-REIT-qualifying investments and financial derivatives to taxable REIT subsidiaries or, "TRSs," and disposed of certain of its investments in non-REIT-qualifying investments and financial derivatives. The Company invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential mortgage-backed securities, or "RMBS," commercial mortgage-backed securities, or "CMBS," consumer loans and asset-backed securities, or "ABS," including ABS backed by consumer loans, collateralized loan obligations, or "CLOs," non-mortgage- and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial Management LLC (the "Manager") is an SEC-registered investment adviser that serves as the Manager to the Company pursuant to the terms of its Seventh Amended and Restated Management Agreement (the "Management Agreement"), which was approved by the Board of Directors effective March 13, 2018. The Manager is an affiliate of Ellington Management Group, L.L.C. ("Ellington"), an investment management firm that is registered as both an investment adviser and a commodity pool operator. In accordance with the terms of the Management Agreement, the Manager implements the investment strategy and manages the business and operations on a day-to-day basis for the Company and performs certain services for the Company, subject to oversight by the Board of Directors. Ellington Financial LLC was formed as a Delaware limited liability company on July 9, 2007 and commenced operations on August 17, 2007. Ellington Financial Operating Partnership LLC (the "Operating Partnership"), a 97.6% owned consolidated subsidiary of Ellington Financial LLC, was formed as a Delaware limited liability company on December 14, 2012 and commenced operations on January 1, 2013. All of the Company's operations and business activities are conducted through the Operating Partnership. Ellington Financial LLC, the Operating Partnership, and their consolidated subsidiaries are hereafter collectively referred to as the "Company." All intercompany accounts are eliminated in consolidation. The Company invests in a diverse array of financial assets, including residential mortgage-backed securities, or "RMBS," commercial mortgage-backed securities, or "CMBS," residential and commercial mortgage loans, consumer loans and asset-backed securities, or "ABS," backed by consumer loans, collateralized loan obligations, or "CLOs," non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial Management LLC ("EFM" or the "Manager") is an SEC-registered investment adviser and a registered commodity pool operator that serves as the Manager to the Company pursuant to the terms of its seventh amended and restated management agreement (the "Management Agreement"). EFM is an affiliate of Ellington Management Group, L.L.C., ("Ellington") an investment management firm that is registered as both an investment adviser and a commodity pool operator. In accordance with the terms of the Management Agreement, the Manager implements the investment strategy and manages the business and operations on a day-to-day basis for the Company and performs certain services for the Company, subject to oversight by the Company's Board of Directors ("Board of Directors").

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (A) Basis of Presentation : The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, or "U.S. GAAP," and Regulation S-X. The consolidated financial statements include the accounts of the Company, the Operating Partnership, its subsidiaries, and variable interest entities, or "VIEs," for which the Company is deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and those differences could be material. The Company adopted ASC 946, Financial Services—Investment Companies ("ASC 946") upon its commencement of operations in August 2007, and applied U.S. GAAP for investment companies. In connection with the Company's internal restructuring and the Company's intention to qualify as a REIT for the year ended December 31, 2019, the Company determined that, effective January 1, 2019, it no longer qualified for investment company accounting in accordance with ASC 946-10-25, and has prospectively discontinued its use. The Company elected the fair value option, or "FVO," for, and therefore the Company will continue to measure at fair value, those of its assets and liabilities it had previously measured at fair value and for which such election is permitted, as provided for under ASC 825, Financial Instruments ("ASC 825"). Due to the prospective application of a change in accounting as required under ASC 946-10-25-2, the Company determined that the presentation of its consolidated financial statements for periods beginning after December 31, 2018 are not comparable to the consolidated financial statements previously prepared for prior periods for which the Company applied ASC 946. As a result, the Company has provided separate consolidated financial statements for applicable prior periods in Item 8 of this Annual Report on Form 10-K. Reclassification and Presentation Effective January 1, 2019, the Company prospectively discontinued its application of ASC 946. Upon its change in status, the following significant changes and elections were made: • Investments in securities are now accounted for in accordance with ASC 320, Investments—Debt and Equity Securities ("ASC 320"); • The Company elected the FVO as provided for under ASC 825-10-25-4 for all eligible financial instruments for which the Company had previously measured at fair value, including investments in securities, loans, financial derivatives, and certain of the Company's secured borrowings. As a result, all changes in the fair value of such financial instruments will continue to be recorded in earnings on the Company's Consolidated Statement of Operations; • Real estate owned, or "REO," is not eligible for the FVO election. As a result, REO is carried at the lower of cost or fair value. The Company's cost basis in any REO that was previously measured at fair value under ASC 946 was adjusted on January 1, 2019 to equal the fair value of such investment as of December 31, 2018; • The Company elected not to designate its financial derivatives as hedging instruments in accordance with ASC 815, Derivatives and Hedging ("ASC 815"). As a result, all changes in the fair value of financial derivatives will continue to be recorded in earnings on the Company's Consolidated Statement of Operations; • Forward settling to-be-announced mortgage-backed-securities, or "TBAs," are no longer classified as investments. TBAs will be classified as financial derivatives, with the difference between the forward contract price and the market value of the TBA position as of the reporting date included in Unrealized gains (losses) on financial derivatives, net, on the Consolidated Statement of Operations; and • The Company is required to account for certain of its equity investments under ASC 323-10, Investments—Equity Method and Joint Ventures ("ASC 323-10"). The Company has elected the FVO for such equity investments and changes in fair value will be reported in Earnings from investments in unconsolidated entities, on the Consolidated Statement of Operations. The discontinuation of the Company's application of ASC 946 prospectively changed the presentation of the Company's consolidated financial statements. The most significant changes are: • The Consolidated Statement of Assets, Liabilities, and Equity has been changed to a Consolidated Balance Sheet; • The Consolidated Condensed Schedule of Investments has been removed; • The Consolidated Statement of Operations is no longer presented in the format required under ASC 946. The Company will present the Consolidated Statement of Operations as required under U.S. GAAP for operating companies. A Consolidated Statement of Other Comprehensive Income (Loss) will be presented, if and when applicable; • The Consolidated Statement of Cash Flows has been changed, and now includes a section for investing activities; • Certain footnotes have been changed to reflect conformity with applicable U.S. GAAP for operating companies; • The Company re-evaluated its interests in all entities to determine whether they are variable interests, and re-evaluated its investments, including it investments in partially owned entities, to determine if they are VIEs, as required under ASC 810, Consolidation ("ASC 810"). The Company also re-evaluated consolidation considerations for all of its investments in VIEs and partially owned entities, as required under ASC 810. Applicable disclosures related to VIEs have been included in these notes to consolidated financial statements; • Securities/loans sold under agreements to be repurchased at an agreed-upon price and date, which were formerly referred to as "reverse repurchase agreements," are now referred to as "repurchase agreements"; • Securities/loans purchased under agreements to resell at an agreed-upon price and date, which were formerly referred to as "repurchase agreements," are now referred to as "reverse repurchase agreements"; and • The financial highlights disclosures, which are not required under U.S. GAAP for operating companies, have been removed. (B) Valuation : The Company applies ASC 820-10, Fair Value Measurement ("ASC 820") to its holdings of financial instruments. ASC 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1—inputs to the valuation methodology are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Currently, the types of financial instruments the Company generally includes in this category are listed equities and exchange-traded derivatives; • Level 2—inputs to the valuation methodology other than quoted prices included in Level 1 are observable for the asset or liability, either directly or indirectly. Currently, the types of financial instruments that the Company generally includes in this category are RMBS for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored entity, or "Agency RMBS," U.S. Treasury securities and sovereign debt, certain non-Agency RMBS, CMBS, CLOs, corporate debt, and actively traded derivatives such as interest rate swaps, foreign currency forwards, and other over-the-counter derivatives; and • Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement. The types of financial instruments that the Company generally includes in this category are certain RMBS, CMBS, CLOs, ABS, credit default swaps, or "CDS," on individual ABS, and total return swaps on distressed corporate debt, in each case where there is less price transparency. Also included in this category are residential and commercial mortgage loans, consumer loans, and private corporate debt and equity investments. For certain financial instruments, the various inputs that management uses to measure fair value may fall into different levels of the fair value hierarchy. For each such financial instrument, the determination of which category within the fair value hierarchy is appropriate is based on the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the various inputs that management uses to measure fair value, with the highest priority given to inputs that are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets (Level 1), and the lowest priority given to inputs that are unobservable and significant to the fair value measurement (Level 3). The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company may use valuation techniques consistent with the market and income approaches to measure the fair value of its financial instruments. The market approach uses third-party valuations and information obtained from market transactions involving identical or similar financial instruments. The income approach uses projections of the future economic benefit of an instrument to determine its fair value, such as in the discounted cash flow methodology. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in these financial instruments. The leveling of each financial instrument is reassessed at the end of each period. Transfers between levels of the fair value hierarchy are assumed to occur at the end of the reporting period. Summary Valuation Techniques For financial instruments that are traded in an "active market," the best measure of fair value is the quoted market price. However, many of the Company's financial instruments are not traded in an active market. Therefore, management generally uses third-party valuations when available. If third-party valuations are not available, management uses other valuation techniques, such as the discounted cash flow methodology. The following are summary descriptions, for various categories of financial instruments, of the valuation methodologies management uses in determining fair value of the Company's financial instruments in such categories. Management utilizes such methodologies to assign a fair value (the estimated price that, in an orderly transaction at the valuation date, would be received to sell an asset, or paid to transfer a liability, as the case may be) to each such financial instrument. For mortgage-backed securities, or "MBS," TBAs, CLOs, and corporate debt and equity, management seeks to obtain at least one third-party valuation, and often obtains multiple valuations when available. Management has been able to obtain third-party valuations on the vast majority of these instruments and expects to continue to solicit third-party valuations in the future. Management generally values each financial instrument at the average of third-party valuations received and not rejected as described below. Third-party valuations are not binding, management may adjust the valuations it receives (e.g., downward adjustments for odd lots), and management may challenge or reject a valuation when, based on its validation criteria, management determines that such valuation is unreasonable or erroneous. Furthermore, based on its validation criteria, management may determine that the average of the third-party valuations received for a given financial instrument does not result in what management believes to be the fair value of such instrument, and in such circumstances management may override this average with its own good faith valuation. The validation criteria may take into account output from management's own models, recent trading activity in the same or similar instruments, and valuations received from third parties. The use of proprietary models requires the use of a significant amount of judgment and the application of various assumptions including, but not limited to, assumptions concerning future prepayment rates and default rates. Given their relatively high level of price transparency, Agency RMBS pass-throughs are typically classified as Level 2. Non-Agency RMBS, CMBS, Agency interest only and inverse interest only RMBS, CLOs, and corporate bonds are generally classified as either Level 2 or Level 3 based on analysis of available market data and/or third-party valuations. The Company's investments in distressed corporate debt can be in the form of loans as well as total return swaps on loans. These investments, as well as related non-listed equity investments, are generally designated as Level 3 assets. Valuations for total return swaps are typically based on prices of the underlying loans received from third-party pricing services. Private equity investments are generally classified as Level 3. Furthermore, the methodology used by the third-party valuation providers is reviewed at least annually by management, so as to ascertain whether such providers are utilizing observable market data to determine the valuations that they provide. For residential and commercial mortgage loans and consumer loans, management determines fair value by taking into account both external pricing data, which includes third-party valuations, and internal pricing models. Management has obtained third-party valuations on the majority of these investments and expects to continue to solicit third-party valuations in the future. In determining fair value for non-performing mortgage loans, management evaluates third-party valuations, if applicable, as well as management's estimates of the value of the underlying real estate, using information including general economic data, broker price opinions, or "BPOs," recent sales, property appraisals, and bids. In determining fair value for performing mortgage loans and consumer loans, management evaluates third-party valuations, if applicable, as well as discounted cash flows of the loans based on market assumptions. Cash flow assumptions typically include projected default and prepayment rates and loss severities, and may include adjustments based on appraisals and BPOs. Mortgage and consumer loans are classified as Level 3. The Company has securitized certain mortgage loans that are not deemed "qualified mortgage," or "QM," loans under the rules of the Consumer Financial Protection Bureau, or "non-QM loans." The Company's securitized non-QM loans are held as part of a collateralized financing entity, or "CFE." A CFE is a VIE that holds financial assets, issues beneficial interests in those assets, and has no more than nominal equity, and for which the issued beneficial interests have contractual recourse only to the related assets of the CFE. ASC 810 allows the Company to elect to measure both the financial assets and financial liabilities of the CFE using the more observable of the fair value of the financial assets and the fair value of the financial liabilities of the CFE. The Company has elected the FVO for initial and subsequent recognition of the debt issued by its consolidated securitization trusts and has determined that each consolidated securitization trust meets the definition of a CFE; see Note 10 " Securitization Transactions — Residential Mortgage Loan Securitizations " for further discussion on the Company's securitization trusts. The Company has determined the inputs to the fair value measurement of the financial liabilities of each of its CFEs to be more observable than those of the financial assets and, as a result, has used the fair value of the financial liabilities of each of the CFEs to measure the fair value of the financial assets of each of the CFEs. The fair value of the debt issued by each CFE is typically valued using discounted cash flows and other market data. The securitized non-QM loans, which are assets of the CFEs, are included in Loans, at fair value, on the Company's Consolidated Balance Sheet. The debt issued by the CFEs is included in Other secured borrowings, at fair value, on the Company's Consolidated Balance Sheet. Unrealized gains (losses) from changes in fair value of Other secured borrowings, at fair value, are included in Other, net, on the Company's Consolidated Statement of Operations. The securitized non-QM loans and the debt issued by the Company's CFEs are both classified as Level 3. For financial derivatives with greater price transparency, such as CDS on asset-backed indices, CDS on corporate indices, certain options on the foregoing, and total return swaps on publicly traded equities or indices, market-standard pricing sources are used to obtain valuations; these financial derivatives are generally classified as Level 2. Interest rate swaps, swaptions, and foreign currency forwards are typically valued based on internal models that use observable market data, including applicable interest rates and foreign currency rates in effect as of the measurement date; the model-generated valuations are then typically compared to counterparty valuations for reasonableness. These financial derivatives are also generally classified as Level 2. Financial derivatives with less price transparency, such as CDS on individual ABS, are generally valued based on internal models, and are classified as Level 3. In the case of CDS on individual ABS, the valuation process typically starts with an estimation of the value of the underlying ABS. In valuing its financial derivatives, the Company also considers the creditworthiness of both the Company and its counterparties, along with collateral provisions contained in each financial derivative agreement. Investments in private operating entities, such as loan originators, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results, and independent third party valuation estimates. These investments are classified as Level 3. The Company's repurchase and reverse repurchase agreements are carried at cost, which approximates fair value. Repurchase and reverse repurchase agreements are classified as Level 2, based on the adequacy of the collateral and their short term nature. The Company's valuation process, including the application of validation criteria, is overseen by the Manager's Valuation Committee (the "Valuation Committee"). The Valuation Committee includes senior level executives from various departments within the Manager, and each quarter, the Valuation Committee reviews and approves the valuations of the Company's financial instruments. The valuation process also includes a monthly review by the Company's third-party administrator. The goal of this review is to replicate various aspects of the Company's valuation process based on the Company's documented procedures. Because of the inherent uncertainty of valuation, the estimated fair value of the Company's financial instruments may differ significantly from the values that would have been used had a ready market for the financial instruments existed, and the differences could be material to the Company's consolidated financial statements. (C) Accounting for Securities : Purchases and sales of investments in securities are generally recorded on trade date, and realized and unrealized gains and losses are calculated based on identified cost. Investments in securities are recorded in accordance with ASC 320 or ASC 325-40, Beneficial Interests in Securitized Financial Assets ("ASC 325-40"). The Company generally classifies its securities as available-for-sale. The Company has chosen to elect the FVO pursuant to ASC 825 for its investments in securities. Electing the FVO allows the Company to record changes in fair value in the Consolidated Statement of Operations, as a component of Unrealized gains (losses) on securities and loans, net, which, in management's view, more appropriately reflects the results of operations for a particular reporting period as all investment activities will be recorded in a similar manner. Many of the Company's investments in securities, such as MBS and CLOs, are issued by entities that are deemed to be VIEs. For the majority of such investments, the Company has determined it is not the primary beneficiary of such VIEs and therefore has not consolidated such VIEs. The Company's maximum risk of loss in these unconsolidated VIEs is generally limited to the fair value of the Company's investment in the VIE. The Company evaluates its investments in interest only securities to determine whether they meet the requirements for classification as financial derivatives under ASC 815. For interest only securities, where the holder is entitled only to a portion of the interest payments made on the mortgages underlying certain MBS, and inverse interest only securities, which are interest only securities whose coupon has an inverse relationship to its benchmark rate, such as LIBOR, the Company has determined that such investments do not meet the requirements for treatment as financial derivatives and are classified as securities. The Company evaluates the cost basis of its investments in securities for other-than-temporary impairment, or "OTTI," on at least a quarterly basis. The determination of whether a security is other-than-temporarily impaired requires judgments, estimates, and assumptions based on subjective and objective factors. As a result, the timing and amount of an OTTI constitutes an accounting estimate that may change materially over time. When the fair value of a security is less than its amortized cost basis as of the balance sheet date, the security's cost basis is considered impaired, and the impairment is designated as either temporary or other-than-temporary. When a security's cost basis is impaired, an OTTI is considered to have occurred if (i) the Company intends to sell the security (i.e., a decision has been made as of the reporting date), (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the security's amortized cost basis, even if the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security. Additionally, for securities accounted for under ASC 325-40, an impairment of the cost basis is recorded when there is an adverse change in the expected cash flows to be received and the fair value of the security is less than its carrying amount. In determining whether an adverse change in cash flows has occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), is compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflect those that a "market participant" would use and include observations of current information and events, and assumptions related to fluctuations in interest rates, prepayment speeds and the timing and amount of potential credit losses. Cash flows are discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments made to the cost basis of the security are reflected in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. (D) Accounting for Loans : The Company's loan portfolio generally consists of residential mortgage, commercial mortgage, and consumer loans. The Company's loans are accounted for under ASC 310-10, Receivables , and are classified as held-for-investment when the Company has the intent and ability to hold such loans for the foreseeable future or to maturity/payoff. When the Company has the intent to sell loans, such loans will be classified as held-for-sale. Mortgage loans held-for-sale are accounted for under ASC 948-310, Financial services—mortgage banking. The Company may aggregate its loans into pools based on common risk characteristics at purchase. Once a pool of loans is assembled, its composition is maintained. The Company has chosen to elect the FVO pursuant to ASC 825 for its loan portfolios. Loans are recorded at fair value on the Consolidated Balance Sheet and changes in fair value are recorded in earnings on the Consolidated Statement of Operations as a component of Unrealized gains (losses) on securities and loans, net. The Company generates income from fees on certain loans, generally commercial mortgage loans, that it originates and holds for investment, including origination and exit fees. Such fee income is recorded when earned and included in Other, net on the Consolidated Statement of Operations. Transfers between held-for-investment and held-for-sale occur once the Company's intent to sell the loans changes. For residential and commercial mortgage loans, the Company generally accrues interest payments. Such loans are typically moved to non-accrual status if the loan becomes 90 days or more delinquent. The Company does not accrue interest payments on its consumer loans; interest payments are recorded upon receipt. Once consumer loans are more than 120 days past due, the Company will generally charge off such loans. The Company evaluates its charged-off loans and determines collectibility, if any, on such loans. The Company evaluates the collectibility of both interest and principal on each of its loan investments and whether the cost basis of the loan is impaired. A loan's cost basis is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan's cost basis is impaired, the Company does not record an allowance for loan loss as it has elected the FVO on all of its loan investments. The Company will recognize impairments through an adjustment to the amortized cost basis and recognize a realized loss in the period such adjustment was made, which is included in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. (E) Interest Income : The Company amortizes premiums and accretes discounts on its debt securities. Coupon interest income on fixed-income investments is generally accrued based on the outstanding principal balance or notional value and the current coupon interest rate. For debt securities that are deemed to be of high credit quality at the time of purchase (generally Agency RMBS, exclusive of interest only securities), premiums and discounts are amortized/accreted into interest income over the life of such securities using the effective interest method. For such securities whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment, or "Catch-up Premium Amortization Adjustment," is made to amortization to reflect the cumulative impact of the change in effective yield. For debt securities (generally non-Agency RMBS, CMBS, ABS, CLOs, and interest only securities) that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. When the fair value of a debt security is less than its amortized cost basis as of the balance sheet date, the security's cost basis is considered impaired. The Company will adjust such impaired cost basis to the present value of the estimated future cash flows. This adjustment to the cost basis is reported in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. For purposes of estimating the future expected cash flows, management uses assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Changes in projected cash flows will result in prospective changes in the yield/interest income recognized on such securities based on the updated expected future cash flows. For each loan purchased with the expectation that both interest and principal will be paid in full, the Company generally amortizes or accretes any premium or discount over the life of the loan utilizing the effective interest method. However, based on current information and events, the Company re-assesses the collectibility of interest and principal, and generally designates a loan as in non-accrual status either when any payments have become 90 or more days past due, or when, in the opinion of management, it is probable that the Company will be unable to collect either interest or principal in full. Once a loan is designated as in non-accrual status, as long as principal is still expected to be collectible in full, interest payments are recorded as interest income only when received (i.e., under the cash basis method); accruals of interest income are only resumed when the loan becomes contractually current and performance is demonstrated to be resumed. However, if principal is not expected to be collectible in full, the cost recovery method is used (i.e., no interest income is recognized, and all payments received—whether contractually interest or principal—are applied to cost). For each loan purchased with evidence of credit deterioration since origination and the expectation that either principal or interest will not be paid in full, interest income is generally recognized using the effective interest method for as long as the cash flows can be reasonably estimated. Here, instead of amortizing the purchase discount (i.e., the excess of the unpaid principal balance over the purchase price) over the life of the loan, the Company effectively amortizes the accretable yield (i.e., the excess of the Company's estimate of the total cash flows to be collected over the life of the loan over the purchase price). Not less than quarterly, the Company updates its estimate of the cash flows expected to be collected over the life of the loan, and revised yields are prospectively applied. For certain groups of consumer loans that the Company considers as having sufficiently homogeneous characteristics, the Company aggregates such loans into pools, and accounts for each such pool as a single unit of account. The pool is then treated analogously to a debt security deemed not to be of high credit quality, in that (i) the aggregate premium or discount for the pool is amortized or accreted into interest income based on the pool's effective interest rate; (ii) the effective interest rate is determined based on the net expected cash flows of the pool, taking into account estimates of prepayments, defaults, and loss severities; and (iii) estimates are updated not less than quarterly and revised yields are prospectively applied. In estimating future cash flows on the Company's debt securities, there are a number of assumptions that will be subject to significant uncertainties and contingencies, including, in the case of MBS, assumptions relating to prepayment rates, default rates, loan loss severities, and loan repurchases. These estimates require the use of a significant amount of judgment. (F) Investments in unconsolidated entities : The Company has made and may in the future make non-controlling equity investments in various entities, such as loan originators. Such investments are generally in the form of preferred and/or common equity, or membership interests. In certain cases, the Company can exercise significant influence over the entity (e.g. by having representation on the entity's board of directors) but the requirements for consolidation under ASC 810 are not met; in such cases the Company is required to account for such equity investments under ASC 323-10. The Company has chosen to elect the FVO pursuant to ASC 825 for its investments in unconsolidated entities, which, in management's view, more appropriately reflects t

Valuation

Valuation	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Valuation	Valuation The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments that are measured at fair value on a recurring basis as of December 31, 2019 : Description Level 1 Level 2 Level 3 Total (In thousands) Assets: Securities, at fair value: Agency RMBS $ — $ 1,917,059 $ 19,904 $ 1,936,963 Non-Agency RMBS — 76,969 89,581 166,550 CMBS — 95,063 29,805 124,868 CLOs — 125,464 44,979 170,443 Asset-backed securities, backed by consumer loans — — 48,610 48,610 Corporate debt securities — — 1,113 1,113 Corporate equity securities — — 1,394 1,394 Loans, at fair value: Residential mortgage loans — — 932,203 932,203 Commercial mortgage loans — — 274,759 274,759 Consumer loans — — 186,954 186,954 Corporate loans — — 18,510 18,510 Investment in unconsolidated entities, at fair value — — 71,850 71,850 Financial derivatives–assets, at fair value: Credit default swaps on asset-backed securities — — 993 993 Credit default swaps on asset-backed indices — 3,319 — 3,319 Credit default swaps on corporate bonds — 2 — 2 Credit default swaps on corporate bond indices — 5,599 — 5,599 Interest rate swaps — 5,468 — 5,468 TBAs — 596 — 596 Total return swaps — — 620 620 Futures 148 — — 148 Forwards — 43 — 43 Total assets $ 148 $ 2,229,582 $ 1,721,275 $ 3,951,005 Liabilities: Securities sold short, at fair value: Government debt $ — $ (72,938 ) $ — $ (72,938 ) Corporate debt securities — (471 ) — (471 ) Financial derivatives–liabilities, at fair value: Credit default swaps on asset-backed indices — (250 ) — (250 ) Credit default swaps on corporate bonds — (1,693 ) — (1,693 ) Credit default swaps on corporate bond indices — (14,524 ) — (14,524 ) Interest rate swaps — (8,719 ) — (8,719 ) TBAs — (1,012 ) — (1,012 ) Futures (45 ) — — (45 ) Forwards — (169 ) — (169 ) Total return swaps — (773 ) (436 ) (1,209 ) Other secured borrowings, at fair value — — (594,396 ) (594,396 ) Total liabilities $ (45 ) $ (100,549 ) $ (594,832 ) $ (695,426 ) The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2019 : Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Non-Agency RMBS $ 38,754 Market Quotes Non Binding Third-Party Valuation $ 6.68 $ 144.79 $ 86.21 CMBS 29,630 Market Quotes Non Binding Third-Party Valuation 5.08 80.72 64.73 CLOs 38,220 Market Quotes Non Binding Third-Party Valuation 40.00 96.00 73.98 Agency interest only RMBS 3,753 Market Quotes Non Binding Third-Party Valuation 1.36 16.61 5.11 Corporate loans 6,010 Market Quotes Non Binding Third-Party Valuation 100.00 100.00 100.00 ABS backed by consumer loans 139 Market Quotes Non Binding Third-Party Valuation 95.47 96.78 96.12 Non-Agency RMBS 50,827 Discounted Cash Flows Yield 3.3 % 60.9 % 10.0 % Projected Collateral Prepayments 0.8 % 72.0 % 49.3 % Projected Collateral Losses 0.0 % 22.7 % 6.6 % Projected Collateral Recoveries 0.0 % 32.4 % 6.9 % Projected Collateral Scheduled Amortization 16.9 % 92.9 % 37.2 % 100.0 % Non-Agency CMBS 175 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % Projected Collateral Prepayments 100.0 % 100.0 % 100.0 % 100.0 % Corporate debt and equity 2,507 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % CLOs 6,759 Discounted Cash Flows Yield 14.0 % 41.9 % 26.2 % Projected Collateral Prepayments 48.5 % 84.6 % 72.5 % Projected Collateral Losses 11.7 % 36.4 % 19.9 % Projected Collateral Recoveries 3.7 % 15.1 % 7.6 % 100.0 % ABS backed by consumer loans 48,471 Discounted Cash Flows Yield 12.0 % 20.2 % 12.1 % Projected Collateral Prepayments 0.0 % 11.2 % 9.7 % Projected Collateral Losses 0.6 % 18.0 % 15.4 % Projected Collateral Scheduled Amortization 71.3 % 99.4 % 74.9 % 100.0 % (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Consumer loans $ 186,954 Discounted Cash Flows Yield 7.0 % 10.0 % 8.1 % Projected Collateral Prepayments 0.0 % 44.2 % 16.0 % Projected Collateral Losses 3.0 % 84.5 % 8.6 % Projected Collateral Scheduled Amortization 15.5 % 95.8 % 75.4 % 100.0 % Corporate loans 12,500 Discounted Cash Flows Yield 15.0 % 18.0 % 16.8 % Performing commercial mortgage loans 248,214 Discounted Cash Flows Yield 7.7 % 16.6 % 8.8 % Non-performing commercial mortgage loans 26,545 Discounted Cash Flows Yield 9.8 % 14.7 % 12.4 % Months to Resolution 1.1 23.0 11.4 Performing and re-performing residential mortgage loans 289,672 Discounted Cash Flows Yield 1.6 % 19.5 % 6.2 % Securitized residential mortgage loans (1)(2) 628,415 Discounted Cash Flows Yield 3.2 % 4.3 % 3.6 % Non-performing residential mortgage loans 14,116 Discounted Cash Flows Yield 1.0 % 26.6 % 9.1 % Months to Resolution 1.1 165.4 54.6 Total return swaps—asset 620 Discounted Cash Flows Yield 8.5 % 27.7 % 11.5 % Credit default swaps on asset-backed securities 993 Net Discounted Cash Flows Projected Collateral Prepayments 35.4 % 42.0 % 37.3 % Projected Collateral Losses 4.2 % 12.4 % 10.2 % Projected Collateral Recoveries 10.0 % 18.2 % 15.3 % Projected Collateral Scheduled Amortization 36.2 % 41.5 % 37.2 % 100.0 % Agency interest only RMBS 16,151 Option Adjusted Spread ("OAS") LIBOR OAS (3) 93 3,527 701 Projected Collateral Prepayments 12.3 % 100.0 % 72.3 % Projected Collateral Scheduled Amortization 0.0 % 87.7 % 27.7 % 100.0 % Investment in unconsolidated entities 41,392 Enterprise Value Equity Price-to-Book (4) 1.0x 4.7x 1.7x Investment in unconsolidated entities 30,458 Discounted Cash Flows Yield (5) 3.7% 14.8% 9.9% Other secured borrowings, at fair value (1) (594,396 ) Discounted Cash Flows Yield 2.9% 4.0% 3.3% Total return swaps—liability (436 ) Discounted Cash Flows Yield 27.7% 27.7% 27.7% (1) Securitized residential mortgage loans and Other secured borrowings, at fair value, represent financial assets and liabilities of the Company's CFEs as discussed in Note 2. (2) Includes $1.5 million of non-performing securitized residential mortgage loans. (3) Shown in basis points. (4) Represent an estimation of where market participants might value an enterprise on a price-to-book basis. (5) Represents the significant unobservable inputs used to fair value the financial instruments of the unconsolidated entity. The fair value of such financial instruments is the largest component of the valuation of such entity as a whole. Third-party non-binding valuations are validated by comparing such valuations to internally generated prices based on the Company's models and, when available, to recent trading activity in the same or similar instruments. For those instruments valued using discounted and net discounted cash flows, collateral prepayments, losses, recoveries, and scheduled amortization are projected over the remaining life of the collateral and expressed as a percentage of the collateral's current principal balance. Averages are weighted based on the fair value of the related instrument. In the case of credit default swaps on asset-backed securities, averages are weighted based on each instrument's bond equivalent value. Bond equivalent value represents the investment amount of a corresponding position in the reference obligation, calculated as the difference between the outstanding principal balance of the underlying reference obligation and the fair value, inclusive of accrued interest, of the derivative contract. For those assets valued using the LIBOR Option Adjusted Spread ("LIBOR OAS") valuation methodology, cash flows are projected using the Company's models over multiple interest rate scenarios, and these projected cash flows are then discounted using the LIBOR rates implied by each interest rate scenario. The LIBOR OAS of an asset is then computed as the unique constant yield spread that, when added to all LIBOR rates in each interest rate scenario generated by the model, will equate (a) the expected present value of the projected asset cash flows over all model scenarios to (b) the actual current market price of the asset. LIBOR OAS is therefore model-dependent. Generally speaking, LIBOR OAS measures the additional yield spread over LIBOR that an asset provides at its current market price after taking into account any interest rate options embedded in the asset. The Company considers the expected timeline to resolution in the determination of fair value for its non-performing commercial and residential mortgage loans. Material changes in any of the inputs above in isolation could result in a significant change to reported fair value measurements. Additionally, fair value measurements are impacted by the interrelationships of these inputs. For example, for instruments subject to prepayments and credit losses, such as non-Agency RMBS and consumer loans and ABS backed by consumer loans, a higher expectation of collateral prepayments will generally be accompanied by a lower expectation of collateral losses. Conversely, higher losses will generally be accompanied by lower prepayments. Because the Company's credit default swaps on asset-backed security holdings represent credit default swap contracts whereby the Company has purchased credit protection, such credit default swaps on asset-backed securities generally have the directionally opposite sensitivity to prepayments, losses, and recoveries as compared to the Company's long securities holdings. Prepayments do not represent a significant input for the Company's commercial mortgage-backed securities and commercial mortgage loans. Losses and recoveries do not represent a significant input for the Company's Agency RMBS interest only securities, given the guarantee of the issuing government agency or government-sponsored enterprise. The table below includes a roll-forward of the Company's financial instruments for the year ended December 31, 2019 (including the change in fair value), for financial instruments classified by the Company within Level 3 of the valuation hierarchy. Year Ended December 31, 2019 (In thousands) Beginning Balance as of Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/Payments (1) Sales/Issuances (2) Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of December 31, 2019 Assets: Securities, at fair value: Agency RMBS $ 7,293 $ (3,464 ) $ (1,787 ) $ 808 $ 13,818 $ (1,306 ) $ 5,370 $ (828 ) $ 19,904 Non-Agency RMBS 91,291 270 5,636 (3,654 ) 21,512 (33,664 ) 15,354 (7,164 ) 89,581 CMBS 803 16 180 (246 ) 31,464 (5,271 ) 2,859 — 29,805 CLOs 14,915 (268 ) (3,190 ) 2,329 25,531 (5,112 ) 11,984 (1,210 ) 44,979 Asset-backed securities backed by consumer loans 22,800 (2,520 ) (891 ) 873 42,137 (13,789 ) — — 48,610 Corporate debt securities 6,318 22 (1,341 ) 188 11,024 (15,098 ) — — 1,113 Corporate equity securities 1,534 — (1,807 ) 205 1,462 — — — 1,394 Loans, at fair value: Residential mortgage loans 496,830 (6,081 ) 1,466 8,800 661,813 (230,625 ) — — 932,203 Commercial mortgage loans 195,301 (282 ) 2,412 (2,083 ) 175,689 (96,278 ) — — 274,759 Consumer loans 183,961 (28,521 ) (6,291 ) 3,000 183,994 (149,189 ) — — 186,954 Corporate loan — 36 — (36 ) 18,510 — — — 18,510 Investments in unconsolidated entities, at fair value 72,298 — 1,545 8,664 42,173 (52,830 ) — — 71,850 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 1,472 — 528 (479 ) 33 (561 ) — — 993 Total return swaps — — 160 620 — (160 ) — — 620 Total assets, at fair value $ 1,094,816 $ (40,792 ) $ (3,380 ) $ 18,989 $ 1,229,160 $ (603,883 ) $ 35,567 $ (9,202 ) $ 1,721,275 Liabilities: Financial derivatives–assets, at fair value- Total return swaps $ — $ — $ (15 ) $ (436 ) $ 15 $ — $ — $ — $ (436 ) Other secured borrowings, at fair value (297,948 ) — — (502 ) 182,291 (478,237 ) — — (594,396 ) Total liabilities, at fair value $ (297,948 ) $ — $ (15 ) $ (938 ) $ 182,306 $ (478,237 ) $ — $ — $ (594,832 ) (1) For Investments in unconsolidated entities, at fair value, amount represents contributions to investments in unconsolidated entities. (2) For Investments in unconsolidated entities, at fair value, amount represents distributions from investments in unconsolidated entities. All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at December 31, 2019 , as well as Level 3 financial instruments disposed of by the Company during the year ended December 31, 2019 . For Level 3 financial instruments held by the Company at December 31, 2019 , change in net unrealized gain (loss) of $2.4 million , $11.5 million , $5.2 million , $0.1 million , $(0.4) million , and $0.1 million , for the year ended December 31, 2019 relate to securities, loans, investments in unconsolidated entities, financial derivatives–assets, financial derivatives–liabilities, and other secured borrowings, at fair value, respectively. At December 31, 2019 , the Company transferred $9.2 million of assets from Level 3 to Level 2 and $35.6 million from Level 2 to Level 3. Transfers between these hierarchy levels were based on the availability of sufficient observable inputs to meet Level 2 versus Level 3 criteria. The leveling of each financial instrument is reassessed at the end of each period, and is based on pricing information received from third-party pricing sources. The following table summarizes the estimated fair value of all other financial instruments not measured at fair value on a recurring basis as of December 31, 2019 : (In thousands) Fair Value Carrying Value Other financial instruments Assets: Cash and cash equivalents $ 72,302 $ 72,302 Restricted cash 175 175 Due from brokers 79,829 79,829 Reverse repurchase agreements 73,639 73,639 Liabilities: Repurchase agreements 2,445,300 2,445,300 Other secured borrowings 150,334 150,334 Senior notes, net 88,365 85,298 Due to brokers 2,197 2,197 Cash and cash equivalents generally includes cash held in interest bearing overnight accounts, for which fair value equals the carrying value, and investments which are liquid in nature, such as investments in money market accounts or U.S. Treasury Bills, for which fair value equals the carrying value; such assets are considered Level 1. Restricted cash includes cash held in a segregated account for which fair value equals the carrying value; such assets are considered Level 1. Due from brokers and Due to brokers include collateral transferred to or received from counterparties, along with receivables and payables for open and/or closed derivative positions. These receivables and payables are short term in nature and any collateral transferred consists primarily of cash; fair value of these items is approximated by carrying value and such items are considered Level 1. The Company's reverse repurchase agreements, repurchase agreements, and other secured borrowings are carried at cost, which approximates fair value due to their short term nature. Reverse repurchase agreements, repurchase agreements, and other secured borrowings are classified as Level 2 based on the adequacy of the collateral and their short term nature. The Senior notes are considered Level 3 liabilities given the relative unobservability of the most significant inputs to valuation estimation as well as the lack of trading activity of these instruments. As of December 31, 2019 , the estimated fair value of the Company's Senior notes was based on a third-party valuation. The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at December 31, 2018: Description Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents $ 12,460 $ — $ — $ 12,460 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,442,924 $ 7,293 $ 1,450,217 U.S. Treasury securities — 76 — 76 Private label residential mortgage-backed securities — 211,348 91,291 302,639 Private label commercial mortgage-backed securities — 33,105 803 33,908 Commercial mortgage loans — — 211,185 211,185 Residential mortgage loans — — 496,830 496,830 Collateralized loan obligations — 108,978 14,915 123,893 Consumer loans and asset-backed securities backed by consumer loans — — 206,761 206,761 Corporate debt — 16,074 6,318 22,392 Secured notes — — 10,917 10,917 Real estate owned — — 34,500 34,500 Common stock 2,200 — — 2,200 Corporate equity investments — — 43,793 43,793 Total investments, at fair value 2,200 1,812,505 1,124,606 2,939,311 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 1,472 1,472 Credit default swaps on corporate bond indices — 733 — 733 Credit default swaps on corporate bonds — 2,473 — 2,473 Credit default swaps on asset-backed indices — 8,092 — 8,092 Total return swaps — 1 — 1 Interest rate swaps — 7,224 — 7,224 Forwards — 6 — 6 Total financial derivatives–assets, at fair value — 18,529 1,472 20,001 Repurchase agreements, at fair value — 61,274 — 61,274 Total investments, financial derivatives–assets, and repurchase agreements, at fair value $ 2,200 $ 1,892,308 $ 1,126,078 $ 3,020,586 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (772,964 ) $ — $ (772,964 ) Government debt — (54,151 ) — (54,151 ) Corporate debt — (6,529 ) — (6,529 ) Common stock (16,933 ) — — (16,933 ) Total investments sold short, at fair value (16,933 ) (833,644 ) — (850,577 ) Description Level 1 Level 2 Level 3 Total (continued) (In thousands) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices $ — $ (11,557 ) $ — $ (11,557 ) Credit default swaps on corporate bonds — (3,246 ) — (3,246 ) Credit default swaps on asset-backed indices — (2,125 ) — (2,125 ) Interest rate swaps — (3,397 ) — (3,397 ) Total return swaps — (6 ) — (6 ) Futures (355 ) — — (355 ) Forwards — (120 ) — (120 ) Total financial derivatives–liabilities, at fair value (355 ) (20,451 ) — (20,806 ) Other secured borrowings, at fair value — — (297,948 ) (297,948 ) Total investments sold short, financial derivatives–liabilities, and other secured borrowings, at fair value $ (17,288 ) $ (854,095 ) $ (297,948 ) $ (1,169,331 ) The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2018: Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities $ 36,945 Market Quotes Non Binding Third-Party Valuation $ 17.42 $ 178.00 $ 78.31 Collateralized loan obligations 5,828 Market Quotes Non Binding Third-Party Valuation 2.64 375.00 167.78 Corporate debt, non-exchange traded corporate equity, and secured notes 13,976 Market Quotes Non Binding Third-Party Valuation 9.69 91.00 59.18 Private label commercial mortgage-backed securities 576 Market Quotes Non Binding Third-Party Valuation 5.93 6.36 6.14 Agency interest only residential mortgage-backed securities 744 Market Quotes Non Binding Third-Party Valuation 1.70 9.12 5.64 Private label residential mortgage-backed securities 54,346 Discounted Cash Flows Yield 3.5 % 66.1 % 10.7 % Projected Collateral Prepayments 16.0 % 92.1 % 50.4 % Projected Collateral Losses 0.0 % 23.1 % 8.7 % Projected Collateral Recoveries 1.5 % 14.6 % 7.3 % Projected Collateral Scheduled Amortization 6.1 % 61.8 % 33.6 % 100.0 % Private label commercial mortgage-backed securities 227 Discounted Cash Flows Yield 3.4 % 3.4 % 3.4 % Projected Collateral Losses 2.0 % 2.0 % 2.0 % Projected Collateral Recoveries 6.6 % 6.6 % 6.6 % Projected Collateral Scheduled Amortization 91.4 % 91.4 % 91.4 % 100.0 % Corporate debt and non-exchange traded corporate equity 4,793 Discounted Cash Flows Yield 17.5 % 17.5 % 17.5 % (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Collateralized loan obligations $ 9,087 Discounted Cash Flows Yield 12.6 % 103.1 % 26.7 % Projected Collateral Prepayments 8.1 % 88.4 % 65.2 % Projected Collateral Losses 3.7 % 40.8 % 13.5 % Projected Collateral Recoveries 4.2 % 38.0 % 11.9 % Projected Collateral Scheduled Amortization 3.5 % 13.5 % 9.4 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans 206,761 Discounted Cash Flows Yield 7.0 % 18.3 % 8.5 % Projected Collateral Prepayments 0.0 % 45.9 % 33.5 % Projected Collateral Losses 2.6 % 84.8 % 9.1 % Projected Collateral Scheduled Amortization 15.2 % 96.6 % 57.4 % 100.0 % Performing commercial mortgage loans 163,876 Discounted Cash Flows Yield 8.0 % 22.5 % 9.6 % Non-performing commercial mortgage loans and commercial real estate owned 80,513 Discounted Cash Flows Yield 9.6 % 27.4 % 13.2 % Months to Resolution 3.0 16.0 7.9 Performing residential mortgage loans 171,367 Discounted Cash Flows Yield 2.7 % 12.9 % 6.0 % Securitized residential mortgage loans (1) 314,202 Discounted Cash Flows Yield 4.3 % 4.6 % 4.6 % Non-performing residential mortgage loans and residential real estate owned 12,557 Discounted Cash Flows Yield 4.3 % 25.1 % 11.3 % Months to Resolution (2) 1.9 42.2 27.8 Credit default swaps on asset-backed securities 1,472 Net Discounted Cash Flows Projected Collateral Prepayments 33.6 % 42.0 % 36.5 % Projected Collateral Losses 11.1 % 15.6 % 12.8 % Projected Collateral Recoveries 10.3 % 18.7 % 15.8 % Projected Collateral Scheduled Amortization 32.0 % 36.5 % 34.9 % 100.0 % Agency interest only residential mortgage-backed securities 6,549 Option Adjusted Spread ("OAS") LIBOR OAS (3) 211 3,521 677 Projected Collateral Prepayments 37.7 % 100.0 % 66.2 % Projected Collateral Scheduled Amortization 0.0 % 62.3 % 33.8 % 100.0 % Non-exchange traded common equity investment in mortgage-related entity 6,750 Enterprise Value Equity Price-to-Book (4) 3.3x 3.3x 3.3x Non-exchange traded preferred equity investment in mortgage-related entity 27,317 Enterprise Value Equity Price-to-Book (4) 1.1x 1.1x 1.1x Non-exchange traded preferred equity investment in loan origination entity 3,000 Recent Transactions Transaction Price N/A N/A N/A Non-controlling equity interest in limited liability company 5,192 Discounted Cash Flows Yield (5) 12.9% 16.1% 15.4% Other secured borrowings, at fair value (1) (297,948 ) Discounted Cash Flows Yield 3.9% 4.4% 4.3% (1) Securitized residential mortgage loans and Other secured borrowings, at fair value, represent financial assets and liabilities of the Company's CFE as discussed in Note 2. (2) Excludes certain loans that are re-performing. (3) Shown in basis points. (4) Represent an estimation of where market participants might value an enterprise on a price-to-book basis. (5) Represents the significant unobservable inputs used to fair value the financial instruments of the limited liability company. The fair value of such financial instruments is the largest component of the valuation of the limited liability company as a whole. Third-party non-binding valuations are validated by comparing such valuations to internally generated prices based on the Company's models and to recent trading activity in the same or similar instruments. For those instruments valued using discounted and net discounted cash flows, collateral prepayments, losses, recoveries, and scheduled amortization are projected over the remaining life of the collateral and expressed as a percentage of the collateral's current principal balance. Averages are weighted based on the fair value of the related instrument. In the case of credit default swaps on asset-backed securities, averages are weighted based on each instrument's bond equivalent value. Bond equivalent value represents the investment amount of a corresponding position in the reference obligation, calculated as the difference between the outstanding principal balance of the underlying reference obligation and the fair value, inclusive of accrued interest, of the derivative contract. For those assets valued using the LIBOR Option Adjusted Spread ("OAS") valuation methodology, cash flows are projected using the Company's models over multiple interest rate scenarios, and these projected cash flows are then discounted using the LIBOR rates implied by each interest rate scenario. The LIBOR OAS of an asset is then computed as the unique constant yield spread that, when added to all LIBOR rates in each interest rate scenario generated by the model, will equate (a) the expected present value of the projected asset cash flows over all model scenarios to (b) the actual current market price of the asset. LIBOR OAS is therefore model-dependent. Generally speaking, LIBOR OAS measures the additional yield spread over LIBOR that an asset provides at its current market price after taking into account any interest rate options embedded in the asset. The Company considers the expected timeline to resolution in the determination of fair value for its non-performing commercial and residential mortgage loans. Material changes in any of the inputs above in isolation could result in a significant change to reported fair value measurements. Additionally, fair value measurements are impacted by the interrelationships of these inputs. For example, for instruments subject to prepayments and credit losses, such as non-Agency RMBS and consumer loans and ABS backed by consumer loans, a higher expectation of collateral prepayments will generally be accompanied by a lower expectation of collateral losses. Conversely, higher losses will generally be accompanied by lower prepayments. Because the Company's credit default swaps on asset-backed security holdings represent credit default swap contracts whereby the Company has purchased credit protection, such credit default swaps on asset-backed securities generally have the directionally opposite sensitivity to prepayments, losses, and recoveries as compared to the Company's long securities holdings. Prepayments do not represent a significant input for the Company's commercial mortgage-backed securities and commercial mortgage loans. Losses and recoveries do not represent a significant input for the Company's Agency RMBS interest only securities, given the guarantee of the issuing government agency or government-sponsored enterprise. The tables below include a roll-forward of the Company's financial instruments for the year ended December 31, 2018 (including the change in fair value), for financial instruments classified by the Company within Level 3 of the valuation hierarchy. Level 3—Fair Value Measurement Using Significant Unobservable Inputs: Year Ended December 31, 2018 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Sales/ Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of December 31, 2018 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 6,173 $ (2,233 ) $ (10 ) $ 175 $ 2,753 $ (1,169 ) $ 2,616 $ (1,012 ) $ 7,293 Private label residential mortgage-backed securities 101,297 383 1,838 (2,135 ) 75,685 (78,487 ) 7,074 (14,364 ) 91,291 Private label commercial mortgage-backed securities 12,347 (243 ) 2,229 2,120 1,481 (16,896 ) — (235 ) 803 Commercial mortgage loans 108,301 790 1,146 1,944 149,053 (50,049 ) — — 211,185 Residential mortgage loans 182,472 (1,965 ) 1,011 (34 ) 402,235 (86,889 ) — — 496,830 Collateralized loan obligations 24,911 (351 ) 317 (2,268 ) 33,549 (33,115 ) 3,959 (12,087 ) 14,915 Consumer loans and asset-backed securities backed by consumer loans 135,258 (29,320 ) 8,415 (1,092 ) 228,354 (134,854 ) — — 206,761 Corporate debt 23,947 56 241 (964 ) 7,665 (17,688 ) — (6,939 ) 6,318 Secured notes — 870 — (1,221 ) 11,268 — — — 10,917 Real estate owned 26,277 — (653 ) (1,003 ) 12,793 (2,914 ) — — 34,500 Corporate equity investments 37,465 — 1,671 8,299 12,708 (16,350 ) — — 43,793 Total investments, at fair value 658,448 (32,013 ) 16,205 3,821 937,544 (438,411 ) 13,649 (34,637 ) 1,124,606 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 3,140 — (687 ) 715 102 (1,798 ) — — 1,472 Total financial derivatives– assets, at fair value 3,140 — (687 ) 715 102 (1,798 ) — — 1,472 Total investments and financial derivatives–assets, at fair value $ 661,588 $ (32,013 ) $ 15,518 $ 4,536 $ 937,646 $ (440,209 ) $ 13,649 $ (34,637 ) $ 1,126,078 Liabilities: Other secured borrowings, at fair value $ (125,105 ) $ — $ — $ 758 $ 49,731 $ (223,332 ) $ — $ — $ (297,948 ) Total other secured borrowings, at fair value $ (125,105 ) $ — $ — $ 758 $ 49,731 $ (223,332 ) $ — $ — $ (297,948 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at December 31, 2018, as well as Level 3 financial instruments disposed of by the Company during the year ended December 31, 2018. For Level 3 financial instruments held by the Company at December 31, 2018, change in net unrealized gain (loss) of $5.3 million , $(0.6) million , and $0.8 million , for the year ended December 31, 2018 relate to investments, financial derivatives–assets, and other secured borrowings, at fair value, respectively. At December 31, 2018, the Company transferred $34.6 million of securities from Level 3 to Level 2 and $13.6 million from Level 2 to Level 3. Transfers between these hierarchy levels were based on the availability of sufficient observable inputs to meet Level 2 versus Level 3 criteria. The leveling of each financial instrument is reassessed at the end of each period, and is based on pricing information received from third-party pricing sources. Not included in the disclosures above are the Company's other financial instruments, which are carried at cost and include, Cash, Due from brokers, Due to brokers, Reverse repurchase agreements, Other secured borrowings, and the Company's unsecured long-term debt, or the "Senior Notes," which is reflected on the Consolidated Statement of Assets, Liabilities, and Equity in Senior notes, net. Cash includes cash held in various accounts including an interest bearing overnight account for which fair value equals the carrying value; such assets are considered Level 1 assets. Due from brokers and Due to brokers include collateral transferred to or received from counterparties, along with receivables and payables for open and/or closed derivative positions. These receivables and payables are short term in nature and any collateral transferred consists primarily of cash; carrying value of these items approximates fair value and such items are considered Level 1 assets and liabilities. The Company's reverse repurchase agreements and Other secured borrowings are carried at cost, which approximates fair value due to their short term nature. Reverse repurchase agreements and Other secured borrowings are considered Level 2 assets and liabilities based on the adequacy of the associated collateral and their short term nature. The Company estimates the fair value of the Senior Notes at $86.0 million as of December 31, 2018. The Senior Notes are considered Level 3 liabilities given the relative unobservability of the most significant inputs to valuation estimation as well as the lack of trading activity of these instruments.

Investment in Securities

Investment in Securities	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investment in Securities	Investment in Securities The Company's securities portfolio primarily consists of Agency RMBS, non-Agency RMBS, CMBS, CLOs, ABS backed by consumer loans, and corporate debt and equity. The following table details the Company's investment in securities as of December 31, 2019 . Gross Unrealized Weighted Average ($ in thousands) Current Principal Unamortized Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon (1) Yield Life (Years) (2) Long: Agency RMBS: 15-year fixed-rate mortgages $ 314,636 $ 6,369 $ 321,005 $ 2,604 $ (203 ) $ 323,406 3.05 % 2.28 % 3.05 20-year fixed-rate mortgages 804 49 853 24 — 877 4.62 % 2.99 % 4.80 30-year fixed-rate mortgages 1,358,762 64,846 1,423,608 13,821 (2,830 ) 1,434,599 4.20 % 2.95 % 6.63 Adjustable rate mortgages 9,651 315 9,966 90 (54 ) 10,002 3.99 % 2.03 % 4.09 Reverse mortgages 122,670 8,133 130,803 2,023 (26 ) 132,800 4.43 % 2.78 % 6.67 Interest only securities n/a n/a 34,044 1,624 (389 ) 35,279 2.81 % 9.27 % 3.86 Non-Agency RMBS 274,353 (122,685 ) 151,668 12,549 (1,081 ) 163,136 3.41 % 7.25 % 5.31 CMBS 185,417 (67,961 ) 117,456 2,990 (480 ) 119,966 3.31 % 6.62 % 8.94 Non-Agency interest only securities n/a n/a 6,517 1,817 (18 ) 8,316 1.10 % 8.18 % 4.14 CLOs n/a n/a 169,238 4,219 (3,014 ) 170,443 5.05 % 9.62 % 4.75 ABS backed by consumer loans 67,080 (19,154 ) 47,926 1,596 (912 ) 48,610 12.17 % 14.00 % 1.22 Corporate debt 22,125 (21,241 ) 884 229 — 1,113 — % — % 0.33 Corporate equity n/a n/a 1,242 152 — 1,394 n/a n/a n/a Total Long 2,355,498 (151,329 ) 2,415,210 43,738 (9,007 ) 2,449,941 4.15 % 4.09 % 5.88 Short: Corporate debt (450 ) (6 ) (456 ) — (15 ) (471 ) 5.44 % 5.21 % 4.90 U.S. Treasury securities (63,140 ) 381 (62,759 ) 63 (298 ) (62,994 ) 1.76 % 1.87 % 6.11 European sovereign bonds (9,759 ) 133 (9,626 ) — (318 ) (9,944 ) 0.77 % 0.12 % 1.58 Total Short (73,349 ) 508 (72,841 ) 63 (631 ) (73,409 ) 1.65 % 1.66 % 5.49 Total $ 2,282,149 $ (150,821 ) $ 2,342,369 $ 43,801 $ (9,638 ) $ 2,376,532 4.23 % 4.01 % 5.90 (1) Weighted average coupon represents the weighted average coupons of the securities, rather than, in the case of collateralized securities, the coupon rates or loan rates on the underlying collateral. (2) Average lives of MBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal. The following table details weighted average life of the Company's Agency RMBS as of December 31, 2019 . ($ in thousands) Agency RMBS Agency Interest Only Securities Estimated Weighted Average Life (1) Fair Value Amortized Cost Weighted Average Coupon (2) Fair Value Amortized Cost Weighted Average Coupon (2) Less than three years $ 188,593 $ 187,099 3.39 % $ 9,011 $ 8,611 3.35 % Greater than three years and less than seven years 961,839 953,031 4.25 % 25,334 24,512 2.66 % Greater than seven years and less than eleven years 713,862 708,805 3.89 % 934 921 1.90 % Greater than eleven years 37,390 37,300 3.51 % — — — % Total $ 1,901,684 $ 1,886,235 4.02 % $ 35,279 $ 34,044 2.81 % (1) Average lives of RMBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal. (2) Weighted average coupon represents the weighted average coupons of the securities, rather than the coupon rates or loan rates on the underlying collateral. The following table details weighted average life of the Company's long non-Agency RMBS, CMBS, and CLOs and other securities as of December 31, 2019 . ($ in thousands) Non-Agency RMBS and CMBS Non-Agency IOs CLOs and Other Securities (2) Estimated Weighted Average Life (1) Fair Value Amortized Cost Weighted Average Coupon (3) Fair Value Amortized Cost Weighted Average Coupon (3) Fair Value Amortized Cost Weighted Average Coupon (3) Less than three years $ 50,120 $ 48,213 2.73 % $ 439 $ 401 1.37 % $ 54,446 $ 54,090 11.11 % Greater than three years and less than seven years 87,436 79,326 4.42 % 7,877 6,116 1.08 % 157,384 155,651 5.38 % Greater than seven years and less than eleven years 127,533 123,924 3.31 % — — — % 8,336 8,307 — % Greater than eleven years 18,013 17,661 0.81 % — — — % — — — % Total $ 283,102 $ 269,124 3.37 % $ 8,316 $ 6,517 1.10 % $ 220,166 $ 218,048 6.60 % (1) Average lives of MBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal. (2) Other Securities includes asset-backed securities, backed by consumer loans, corporate debt, and U.S. Treasury securities. (3) Weighted average coupon represents the weighted average coupons of the securities, rather than the coupon rates or loan rates on the underlying collateral. The following table details the components of interest income by security type for the year ended December 31, 2019 : (In thousands) Year Ended December 31, 2019 Security Type Coupon Interest Net Amortization Interest Income Agency RMBS $ 62,103 $ (24,731 ) $ 37,372 Non-Agency RMBS and CMBS 13,855 2,782 16,637 CLOs 15,857 (1,599 ) 14,258 Other securities (1) 7,157 (2,468 ) 4,689 Total $ 98,972 $ (26,016 ) $ 72,956 (1) Other securities includes ABS backed by consumer loans, corporate debt securities, and U.S. Treasury securities. For the year ended December 31, 2019 the Catch-Up Premium Amortization Adjustment was $(4.7) million . The following table presents proceeds from sales and the resulting realized gains and (losses) of the Company's securities for the year ended December 31, 2019 . (In thousands) Year Ended Security Type Proceeds (1) Gross Realized Gains Gross Realized Losses Net Realized Gain (Loss) Agency RMBS $ 1,010,251 $ 9,006 $ (4,924 ) $ 4,082 Non-Agency RMBS and CMBS 184,725 12,552 (7,348 ) 5,204 CLOs 62,063 1,286 (19,464 ) (18,178 ) Other securities (2) 636,886 1,113 (4,863 ) (3,750 ) Total $ 1,893,925 $ 23,957 $ (36,599 ) $ (12,642 ) (1) Includes proceeds on sales of securities not yet settled as of period end. (2) Other securities includes ABS backed by consumer loans, corporate debt and equity, exchange-traded equity, and U.S. Treasury securities. The following table presents the fair value and gross unrealized losses of our long securities by length of time that such securities have been in an unrealized loss position at December 31, 2019 . (In thousands) Less than 12 Months Greater than 12 Months Total Security Type Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Agency RMBS $ 328,968 $ (1,503 ) $ 125,095 $ (1,999 ) $ 454,063 $ (3,502 ) Non-Agency RMBS and CMBS 88,495 (880 ) 27,218 (699 ) 115,713 (1,579 ) CLOs 37,354 (1,911 ) 9,245 (1,103 ) 46,599 (3,014 ) Other securities (1) 16,562 (852 ) 1,380 (60 ) 17,942 (912 ) Total $ 471,379 $ (5,146 ) $ 162,938 $ (3,861 ) $ 634,317 $ (9,007 ) (1) Other securities includes ABS backed by consumer loans, corporate debt and equity, and U.S. Treasury securities. As described in Note 2, the Company evaluates the cost basis of its securities for impairment on at least a quarterly basis. For the year ended December 31, 2019 , the Company recognized an impairment charge of $28.7 million , on the cost basis of its securities, which is included in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. For each of the remaining securities in a loss position at December 31, 2019

Investment in Loans

Investment in Loans	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Investment in Loans	Investment in Loans The Company invests in various types of loans, such as residential mortgage, commercial mortgage, consumer, and corporate loans. As discussed in Note 2, the Company has elected the FVO for its investments in loans. The following table is a summary of the Company's investments in loans as of December 31, 2019 : Loan Type Unpaid Principal Balance Fair Value (In thousands) Residential mortgage loans $ 911,705 $ 932,203 Commercial mortgage loans 277,870 274,759 Consumer loans 179,743 186,954 Corporate loans 18,415 18,510 Total $ 1,387,733 $ 1,412,426 The Company is subject to credit risk in connection with its investments in loans. The two primary components of credit risk are default risk, which is the risk that a borrower fails to make scheduled principal and interest payments, and severity risk, which is the risk of loss upon a borrower default on a mortgage loan or other secured or unsecured loan. Severity risk includes the risk of loss of value of the property or other asset, if any, securing the loan, as well as the risk of loss associated with taking over the property or other asset, if any, including foreclosure costs. The following table provides details, by accrual status, for loans that are 90 days or more past due as of December 31, 2019 : (In thousands) Unpaid Principal Balance Fair Value 90 days or more past due—non-accrual status Residential mortgage loans $ 22,092 $ 19,401 Commercial mortgage loans 28,936 26,545 Consumer loans 5,633 5,225 Residential Mortgage Loans The table below details certain information regarding the Company's residential mortgage loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon Yield Life (Years) (1) Residential mortgage loans, held-for-investment (2) $ 911,705 $ 9,354 $ 921,059 $ 13,082 $ (1,938 ) $ 932,203 6.44 % 5.79 % 1.90 (1) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. (2) Includes $628.4 million of non-QM loans that have been securitized and are held in consolidated securitization trusts; see Note 10. The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance California 46.6 % Florida 11.9 % Texas 11.9 % Colorado 3.2 % Massachusetts 2.9 % Arizona 2.4 % Oregon 2.2 % Utah 1.9 % Illinois 1.7 % Nevada 1.6 % Washington 1.6 % New York 1.3 % Maryland 1.1 % New Jersey 1.1 % Other 8.6 % 100.0 % The following table presents information on the Company's residential mortgage loans by re-performing or non-performing status, as of December 31, 2019 . (In thousands) Unpaid Principal Balance Fair Value Re-performing $ 27,663 $ 25,323 Non-performing 17,757 15,580 As described in Note 2, the Company evaluates the cost basis of its residential mortgage loans for impairment on at least a quarterly basis. For the year ended December 31, 2019 , the Company recognized an impairment charge of $0.9 million on the cost basis of its residential mortgage loans, which is included in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. As of December 31, 2019 , the Company had residential mortgage loans that were in the process of foreclosure with a fair value of $10.9 million . Commercial Mortgage Loans The table below details certain information regarding the Company's commercial mortgage loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon Yield (1) Life (Years) (2) Commercial mortgage loans, held-for-investment $ 277,870 $ (3,302 ) $ 274,568 $ 253 $ (62 ) $ 274,759 7.65 % 8.58 % 1.07 (1) Excludes commercial mortgage loans, held at par in non-accrual status, with a fair value of $10.7 million . (2) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance Florida 31.7 % New York 17.7 % New Jersey 13.3 % Connecticut 8.2 % Virginia 6.8 % Massachusetts 4.7 % Missouri 4.6 % Arizona 3.8 % Indiana 2.1 % North Carolina 1.8 % Nevada 1.5 % Tennessee 1.5 % Illinois 1.2 % Other 1.1 % 100.0 % As of December 31, 2019 , the Company had three non-performing commercial mortgage loans with an unpaid principal balance and fair value of $28.9 million and $26.5 million , respectively. The Company evaluates the cost basis of its commercial mortgage loans for impairment on at least a quarterly basis. As of December 31, 2019 , the Company had two commercial mortgage loans with a fair value of $16.0 million that were in the process of foreclosure. Consumer Loans The table below details certain information regarding the Company's consumer loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value (1) Life (Years) (2) Delinquency (Days) Consumer loans, held-for-investment $ 179,743 $ 5,027 $ 184,770 $ 2,561 $ (377 ) $ 186,954 0.82 4 (1) Includes $0.6 million of charged-off loans for which the Company has determined that it is probable the servicer will be able to collect principal and interest. (2) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. The table below provides details on the delinquency status of the Company's consumer loans, which the Company uses as an indicator of credit quality, as of December 31, 2019 : Days Past Due Delinquency Status (1) Current 95.3 % 30-59 Days 2.1 % 60-89 Days 1.4 % 90-119 Days 1.2 % 100.0 % (1) As a percentage of total unpaid principal balance. During the year ended December 31, 2019 , the Company charged off $19.0 million of unpaid principal balance of consumer loans that were greater than 120 days delinquent. As of December 31, 2019 , the Company held charged-off consumer loans with an aggregate fair value of $0.6 million for which the Company has determined that it is probable the servicer will be able to collect principal and interest. As described in Note 2, the Company evaluates the cost basis of its pools of consumer loans for impairments on at least a quarterly basis. For the year ended December 31, 2019 , the Company recognized an impairment charge of $6.3 million on the cost basis of its consumer loan pools, which is included in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. Corporate Loans The table below details certain information regarding the Company's corporate loans as of December 31, 2019 : Weighted Average ($ in thousands) Unpaid Principal Balance Fair Value Rate Remaining Term (Years) Corporate loans, held-for-investment (1)(2) $ 18,415 $ 18,510 17.62 % 0.87 (1) See Note 13 for further details on the Company's transactions involving a loan originator in which the Company also holds an equity investment. (2) See Note 21 for further details on the Company's unfunded commitments related to certain of its corporate loans.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of December 31, 2019 the Company had various equity investments in entities where the Company has the ability to exert significant influence over such entity, but does not control such entity. In these cases the criteria for consolidation have not been met and the Company is required to account for such investments under ASC 323-10; the Company has elected the FVO for its investments in unconsolidated entities. As of December 31, 2019 , the Company's investments in unconsolidated entities had an aggregate fair value of $71.9 million , which is included on the Consolidated Balance Sheet in Investments in unconsolidated entities, at fair value. For the year ended December 31, 2019 , the Company recognized $10.2 million in Earnings from investments in unconsolidated entities, on its Consolidated Statement of Operations. Certain of the entities that the Company accounts for under ASC 323-10 are deemed to be VIEs, and the maximum amount at risk is generally limited to the Company's investment in the VIE. As of December 31, 2019 , the fair value of the Company's investments in unconsolidated entities that have been deemed to be VIEs was $28.5 million . The following table provides details about the Company's investments in unconsolidated entities as of December 31, 2019 : Investment in Unconsolidated Entity Form of Investment Percentage Ownership of Unconsolidated Entity Longbridge Financial, LLC (1) Preferred shares 49.7% LendSure Mortgage Corp. (1) Common shares 49.9% Jepson Holdings Limited (1)(2) Membership Interest 30.1% Elizon AFG 2018-1 LLC (1)(2) Membership Interest 13.4% Elizon DB 2015-1 LLC (1)(2) Membership Interest 3.5% Other Various 7.7%–51.0% (1) See Note 13 for additional details on the Company's related party transactions. (2) The Company has evaluated this entity and determined that it meets the definition of a VIE. The Company evaluated its interest in the VIE and determined that the Company does not have the power to direct the activities of the VIE and does not have control of the underlying assets, where applicable. As a result, the Company determined that it is not the primary beneficiary of this VIE and therefore has not consolidated the VIE. The following table provides a summary of the combined financial position of the unconsolidated entities as of December 31, 2019, in which the Company has an investment: December 31, 2019 (In thousands) Assets Investments in securities, loans, MSRs, and REO (1) $ 560,949 Other assets 65,580 Total assets $ 626,529 Liabilities Borrowings $ 387,910 Other liabilities 28,134 Total liabilities 416,044 Equity 210,485 Total liabilities and equity $ 626,529 (1) Includes investments carried as the lower of cost or fair value as well as investments where the unconsolidated entity has elected the FVO. The following table provides a summary of the combined results of operations of the unconsolidated entities as of December 31, 2019, in which the Company has an investment: Year Ended December 31, 2019 (In thousands) Net Interest Income Interest income $ 30,587 Interest expense (13,316 ) Total net interest income 17,271 Other Income (Loss) Realized and unrealized gains (losses) on securities, loans, MSRs, and REO, net 40,901 Other, net 31,848 Total other income (loss) 72,749 Total expenses 58,018 Net income (loss) before income tax expense 32,002 Income tax expense (benefit) 979 Net Income (Loss) $ 31,023

Real Estate Owned

Real Estate Owned	12 Months Ended
	Dec. 31, 2019
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Real Estate Owned	Real Estate Owned As discussed in Note 2, the Company obtains possession of REO as a result of foreclosures on the associated mortgage loans. The following table details activity in the Company's carrying value of REO for the year ended December 31, 2019 . Year Ended December 31, 2019 Number of Properties Carrying Value (In thousands) Beginning Balance (January 1, 2019) 20 $ 30,778 Transfers from mortgage loans 8 22,577 Capital expenditures and other adjustments to cost 240 Adjustments to record at the lower of cost or fair value (1,002 ) Disposals (13 ) (22,009 ) Ending Balance (December 31, 2019) 15 $ 30,584 During the year ended December 31, 2019 , the Company sold 13 REO properties, realizing a net gain (loss) of approximately $2.3 million . Such realized gains (losses) are included in R ealized gains (losses) on real estate owned, net, on the Company's Consolidated Statement of Operations. As of December 31, 2019 all of the Company's REO had been obtained as a result of obtaining physical possession through foreclosure. As of December 31, 2019 , the Company had REO measured at fair value on a non-recurring basis of $19.4 million .

To Be Announced RMBS

To Be Announced RMBS	12 Months Ended
	Dec. 31, 2019
To Be Announced RMBS [Abstract]
To Be Announced RMBS	To Be Announced RMBS In addition to investing in pools of Agency RMBS, the Company transacts in the forward settling TBA market. Pursuant to these TBA transactions, the Company agrees to purchase or sell, for future delivery, Agency RMBS with certain principal and interest terms and certain types of underlying collateral, but the particular Agency RMBS to be delivered is not identified until shortly before the TBA settlement date. TBAs are liquid and have quoted market prices and represent the most actively traded class of MBS. The Company accounts for its TBAs as purchases and sales and uses TBAs primarily for hedging purposes, typically in the form of short positions. However, the Company may also invest in TBAs for speculative purposes, including holding long positions. Overall, the Company typically holds a net short position. The Company does not generally take delivery of TBAs; rather, it settles the associated receivable and payable with its trading counterparties on a net basis. Transactions with the same counterparty for the same TBA that result in a reduction of the position are treated as extinguished. The fair value of the Company's long positions in TBA contracts are reflected on the Consolidated Condensed Schedule of Investments under TBA–Fixed-Rate Agency Securities and the fair value of the Company's positions in TBA contracts sold short are reflected on the Consolidated Condensed Schedule of Investments under TBA–Fixed-Rate Agency Securities Sold Short. The payables and receivables related to the Company's TBA securities are included on the Consolidated Statement of Assets, Liabilities, and Equity in Payable for securities purchased and Receivable for securities sold, respectively. The below table details TBA assets, liabilities, and the respective related payables and receivables as of December 31, 2018: (In thousands) As of December 31, 2018 Assets: TBA securities, at fair value (Current principal: $460,037) $ 474,860 Receivable for securities sold relating to unsettled TBA sales 766,574 Liabilities: TBA securities sold short, at fair value (Current principal: -$753,697) $ (772,964 ) Payable for securities purchased relating to unsettled TBA purchases (473,386 ) Net short TBA securities, at fair value (298,104 )

Financial Derivatives

Financial Derivatives	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivatives	Financial Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company manages certain risks associated with its investments and borrowings, including interest rate, credit, liquidity, and foreign exchange rate risk primarily by managing the amount, sources, and duration of its investments and borrowings, and through the use of derivative financial instruments. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of its known or expected cash receipts and its known or expected cash payments principally related to its investments and borrowings. The following table details the fair value of the Company's holdings of financial derivatives as of December 31, 2019 : December 31, 2019 (In thousands) Financial derivatives–assets, at fair value: TBA securities purchase contracts $ 90 TBA securities sale contracts 506 Fixed payer interest rate swaps 3,914 Fixed receiver interest rate swaps 1,554 Credit default swaps on asset-backed securities 993 Credit default swaps on asset-backed indices 3,319 Credit default swaps on corporate bonds 2 Credit default swaps on corporate bond indices 5,599 Total return swaps 620 Futures 148 Forwards 43 Total financial derivatives–assets, at fair value 16,788 Financial derivatives–liabilities, at fair value: TBA securities sale contracts (1,012 ) Fixed payer interest rate swaps (8,513 ) Fixed receiver interest rate swaps (206 ) Credit default swaps on asset-backed indices (250 ) Credit default swaps on corporate bonds (1,693 ) Credit default swaps on corporate bond indices (14,524 ) Total return swaps (1,209 ) Futures (45 ) Forwards (169 ) Total financial derivatives–liabilities, at fair value (27,621 ) Total $ (10,833 ) Interest Rate Swaps The following table provides information about the Company's fixed payer interest rate swaps as of December 31, 2019 : Weighted Average Maturity Notional Amount (1) Fair Value (1) Pay Rate (2)(3) Receive Rate (2) Remaining Years to Maturity (4) (In thousands) 2020 $ 68,607 $ (234 ) 1.74 % 1.93 % 0.24 2021 268,929 (419 ) 1.73 1.95 1.64 2022 31,350 9 1.65 1.93 2.14 2023 101,012 (1,265 ) 2.06 1.91 3.29 2024 13,000 99 1.56 1.89 4.90 2025 12,800 (24 ) n/a n/a 5.22 2026 59,902 1,946 1.24 1.94 6.50 2028 32,942 (1,634 ) 2.40 1.93 8.34 2029 136,838 (2,018 ) 2.02 1.96 9.61 2030 685 (32 ) 2.38 1.90 10.90 2036 1,100 87 1.45 1.94 16.14 2049 5,796 (1,114 ) 2.89 2.09 29.03 Total $ 732,961 $ (4,599 ) 1.83 % 1.94 % 4.31 (1) Includes forward-starting interest rate swaps with a notional amount of $ 20.9 million and fair value of $(41) thousand . (2) Excludes forward-starting interest rate swaps. (3) Including forward-starting interest rate swaps the total weighted average pay rate was 1.83% . (4) Includes forward-starting interest rate swaps, all of which start within six months of period end. The following table provides information about the Company's fixed receiver interest rate swaps as of December 31, 2019 : Weighted Average Maturity Notional Amount Fair Value Pay Rate Receive Rate Remaining Years to Maturity (In thousands) 2021 $ 181,950 $ (49 ) 1.89 % 1.67 % 1.84 2022 53,974 441 1.91 1.85 2.17 2023 48,657 709 1.92 2.00 3.26 2024 11,342 306 2.09 2.33 4.23 2029 9,800 (59 ) 1.91 1.78 9.77 Total $ 305,723 $ 1,348 1.91 % 1.78 % 2.47 Credit Default Swaps The following table provides information about the Company's credit default swaps as of December 31, 2019 : Type (1) Notional Fair Value Weighted Average Remaining Term (Years) (In thousands) Asset: Long: Credit default swaps on asset-backed indices $ 695 $ 10 23.80 Credit default swaps on corporate bonds 430 2 0.47 Credit default swaps on corporate bond indices 130,707 5,547 2.42 Short: Credit default swaps on asset-backed securities (2,640 ) 993 15.63 Credit default swaps on asset-backed indices (63,515 ) 3,309 38.40 Credit default swaps on corporate bond indices (1,997 ) 52 3.97 Liability: Long: Credit default swaps on asset-backed indices 344 (145 ) 29.35 Short: Credit default swaps on asset-backed indices (4,501 ) (105 ) 40.31 Credit default swaps on corporate bonds (10,800 ) (1,693 ) 3.92 Credit default swaps on corporate bond indices (250,088 ) (14,524 ) 2.51 $ (201,365 ) $ (6,554 ) 14.88 (1) Long notional represents contracts where the Company has written protection and short notional represents contracts where the Company has purchased protection. Futures The following table provides information about the Company's short positions in futures as of December 31, 2019 : Description Notional Amount Fair Value Remaining Months to Expiration (In thousands) U.S. Treasury futures $ (16,000 ) $ 148 2.77 Eurodollar futures (14,000 ) (45 ) 4.05 Total $ (30,000 ) $ 103 3.37 TBAs The Company transacts in the forward settling TBA market. Pursuant to these TBA transactions, the Company agrees to purchase or sell, for future delivery, Agency RMBS with certain principal and interest terms and certain types of underlying collateral, but the particular Agency RMBS to be delivered is not identified until shortly before the TBA settlement date. TBAs are generally liquid, have quoted market prices, and represent the most actively traded class of MBS. The Company uses TBAs to mitigate interest rate risk, usually by taking short positions. The Company also invests in TBAs as a means of acquiring additional exposure to Agency RMBS, or for speculative purposes, including holding long positions. The Company does not generally take delivery of TBAs; rather, it settles the associated receivable and payable with its trading counterparties on a net basis. Transactions with the same counterparty for the same TBA that result in a reduction of the position are treated as extinguished. As of December 31, 2019 , the Company had outstanding TBA purchase and sale contracts as follows: TBA Securities Notional Amount (1) Cost Basis (2) Market Value (3) Net Carrying Value (4) (In thousands) Purchase contracts: Assets $ 40,100 $ 40,585 $ 40,675 $ 90 40,100 40,585 40,675 90 Sale contracts: Assets (319,981 ) (332,080 ) (331,574 ) 506 Liabilities (773,749 ) (806,568 ) (807,580 ) (1,012 ) (1,093,730 ) (1,138,648 ) (1,139,154 ) (506 ) Total TBA securities, net $ (1,053,630 ) $ (1,098,063 ) $ (1,098,479 ) $ (416 ) (1) Notional amount represents the principal balance of the underlying Agency RMBS. (2) Cost basis represents the forward price to be paid (received) for the underlying Agency RMBS. (3) Market value represents the current market value of the underlying Agency RMBS (on a forward delivery basis) as of period end. (4) Net carrying value represents the difference between the market value of the TBA contract as of period end and the cost basis, and is reported in Financial derivatives-assets, at fair value and Financial derivatives-liabilities, at fair value on the Consolidated Balance Sheet. Gains and losses on the Company's derivative contracts for the year ended December 31, 2019 are summarized in the table below: Derivative Type Primary Risk Exposure Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps Net Realized Gains (Losses) on Financial Derivatives Other Than Periodic Settlements of Interest Rate Swaps (1) Net Realized Gains (Losses) on Financial Derivatives (1) Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps Change in Net Unrealized Gains (Losses) on Financial Derivatives Other Than on Accrued Periodic Settlements of Interest Rate Swaps (2) Change in Net Unrealized Gains (Losses) on Financial Derivatives (2) (In thousands) Interest rate swaps Interest Rate $ 1,695 $ (876 ) $ 819 $ (764 ) $ (5,778 ) $ (6,542 ) Credit default swaps on asset-backed securities Credit 528 528 (479 ) (479 ) Credit default swaps on asset-backed indices Credit (1,883 ) (1,883 ) (1,848 ) (1,848 ) Credit default swaps on corporate bond indices Credit (5,262 ) (5,262 ) (1,364 ) (1,364 ) Credit default swaps on corporate bonds Credit (708 ) (708 ) 1,007 1,007 Total return swaps Equity Market/Credit (1,460 ) (1,460 ) (584 ) (584 ) TBAs Interest Rate (15,755 ) (15,755 ) 4,026 4,026 Futures Interest Rate/Currency (7,924 ) (7,924 ) 458 458 Forwards Currency 813 813 (12 ) (12 ) Options Interest Rate (35 ) (35 ) 1 1 Total $ 1,695 $ (32,562 ) $ (30,867 ) $ (764 ) $ (4,573 ) $ (5,337 ) (1) Includes gain/(loss) on foreign currency transactions on financial derivatives in the amount of $45 thousand for the year ended December 31, 2019 , which is included on the Consolidated Statement of Operations in Other, net. (2) Includes foreign currency remeasurement on financial derivatives in the amount of $1 thousand for the year ended December 31, 2019 , which is included on the Consolidated Statement of Operations in Other, net. The table below details the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the year ended December 31, 2019 : Derivative Type Year Ended (In thousands) Interest rate swaps $ 731,941 TBAs 973,331 Credit default swaps 399,316 Total return swaps 39,434 Futures 167,708 Options 19,825 Forwards 30,930 Warrants 2,222 From time to time the Company enters into credit derivative contracts for which the Company sells credit protection ("written credit derivatives"). As of December 31, 2019 , all of the Company's open written credit derivatives were credit default swaps on either mortgage/asset-backed indices (ABX and CMBX indices) or corporate bond indices (CDX), collectively referred to as credit indices, or on individual corporate bonds, for which the Company receives periodic payments at fixed rates from credit protection buyers, and is obligated to make payments to the credit protection buyer upon the occurrence of a "credit event" with respect to underlying reference assets. Written credit derivatives held by the Company at December 31, 2019 are summarized below: Credit Derivatives December 31, 2019 (In thousands) Fair Value of Written Credit Derivatives, Net $ 5,414 Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (3,248 ) Notional Value of Written Credit Derivatives (2) 132,176 Notional Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (81,637 ) (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive, upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional value of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional value of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty. A credit default swap on a credit index or a corporate bond typically terminates at the stated maturity date in the case of corporate indices or bonds, or, in the case of ABX and CMBX indices, the date that all of the reference assets underlying the index are paid off in full, retired, or otherwise cease to exist. Implied credit spreads may be used to determine the market value of such contracts and are reflective of the cost of buying/selling credit protection. Higher spreads would indicate a greater likelihood that a seller will be obligated to perform ( i.e. , make protection payments) under the contract. In situations where the credit quality of the underlying reference assets has deteriorated, the percentage of notional values that would be paid up front to enter into a new such contract ("points up front") is frequently used as an indication of credit risk. Credit protection sellers entering the market in such situations would expect to be paid points up front corresponding to the approximate fair value of the contract. For the Company's written credit derivatives that were outstanding at December 31, 2019 , implied credit spreads on such contracts ranged between 10.9 and 440.0 basis points. Excluded from these spread ranges are contracts outstanding for which the individual spread is greater than 2,000 basis points. The Company believes that these contracts would be quoted based on estimated points up front. The total fair value of contracts with individual implied credit spreads in excess of 2,000 basis points was $(0.1) million as of December 31, 2019 . Estimated points up front on these contracts as of December 31, 2019 was 57.0. Total net up-front payments (paid) or received relating to written credit derivatives outstanding at December 31, 2019 were $(3.3) million . Gains and losses on the Company's derivative contracts for the year ended December 31, 2018 are summarized in the table below: Year Ended December 31, 2018 Derivative Type Primary Risk Exposure Net Realized (1) Change in Net Unrealized Gain/(Loss) (2) (In thousands) Credit default swaps on asset-backed securities Credit $ (687 ) $ 715 Credit default swaps on asset-backed indices Credit (2,293 ) 2,013 Credit default swaps on corporate bond indices Credit (1,983 ) 3,540 Credit default swaps on corporate bonds Credit 2,993 (2,648 ) Total return swaps Equity Market/Credit 3,844 (5 ) Interest rate swaps Interest Rate (985 ) 3,648 Futures Interest Rate/Currency 162 108 Forwards Currency 923 359 Options Interest Rate/ Equity Market (63 ) 77 Total $ 1,911 $ 7,807 (1) Includes gain/(loss) on foreign currency transactions on derivatives in the amount of $0.1 million for the year ended December 31, 2018, which is included on the Consolidated Statement of Operations in Realized gain (loss) on foreign currency transactions. (2) Includes foreign currency translation on derivatives in the amount of $0.1 million for the year ended December 31, 2018, which is included on the Consolidated Statement of Operations in Change in net unrealized gain (loss) on foreign currency translation. The table below details the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the year ended December 31, 2018: Derivative Type Year Ended (In thousands) Interest rate swaps $ 1,059,756 Credit default swaps 566,805 Total return swaps 53,603 Futures 201,295 Options 99,891 Forwards 45,522 From time to time the Company enters into credit derivative contracts for which the Company sells credit protection ("written credit derivatives"). As of December 31, 2018 all of the Company's open written credit derivatives were credit default swaps on either mortgage/asset-backed indices (ABX and CMBX indices) or corporate bond indices (CDX), collectively referred to as credit indices, or on individual corporate bonds, for which the Company receives periodic payments at fixed rates from credit protection buyers, and is obligated to make payments to the credit protection buyer upon the occurrence of a "credit event" with respect to underlying reference assets. Written credit derivatives held by the Company at December 31, 2018 are summarized below: Credit Derivatives December 31, 2018 (In thousands) Fair Value of Written Credit Derivatives, Net $ (4,339 ) Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (284 ) Notional Value of Written Credit Derivatives (2) 98,586 Notional Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (41,134 ) (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive, upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional value of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional value of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty. A credit default swap on a credit index or a corporate bond typically terminates at the stated maturity date in the case of corporate indices or bonds, or, in the case of ABX and CMBX indices, the date that all of the reference assets underlying the index are paid off in full, retired, or otherwise cease to exist. Implied credit spreads may be used to determine the market value of such contracts and are reflective of the cost of buying/selling credit protection. Higher spreads would indicate a greater likelihood that a seller will be obligated to perform ( i.e. , make protection payments) under the contract. In situations where the credit quality of the underlying reference assets has deteriorated, the percentage of notional values that would be paid up front to enter into a new such contract ("points up front") is frequently used as an indication of credit risk. Credit protection sellers entering the market in such situations would expect to be paid points up front corresponding to the approximate fair value of the contract. For the Company's written credit derivatives that were outstanding at December 31, 2018, implied credit spreads on such contracts ranged between 42.6 and 815.1 basis points. Excluded from this spread range are contracts outstanding for which the individual spread is greater than 2,000 basis points. The Company believes that these contracts would be quoted based on estimated points up front. The total fair value of contracts with individual implied credit spreads in excess of 2,000 basis points was $(1.0) million as of December 31, 2018. Estimated points up front on these contracts as of December 31, 2018 ranged between 36.9 and 75.2 points. Total net up-front payments (paid) or received relating to written credit derivatives outstanding at December 31, 2018 were $(2.0) million .

Consolidated VIEs

Consolidated VIEs	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated VIEs	Consolidated VIEs As discussed in Note 2, the Company has interests in entities that it has determined to be VIEs. The following table summarizes the assets and liabilities of the Company's consolidated VIEs that are included on the Company's Consolidated Balance Sheet as of December 31, 2019 . (In thousands) December 31, 2019 (1) Assets Cash and cash equivalents $ 6,016 Restricted cash 175 Securities, at fair value 47,923 Loans, at fair value 1,393,916 Investments in unconsolidated entities, at fair value 5,641 Real estate owned 30,584 Due from brokers — Investment related receivables 28,668 Other assets 6,191 Total Assets $ 1,519,114 Liabilities Repurchase agreements $ 302,791 Investment related payables 3,275 Other secured borrowings 150,334 Other secured borrowings, at fair value 594,396 Interest payable 1,247 Accrued expenses and other liabilities 2,279 Total Liabilities 1,054,322 Total Stockholders' Equity 440,394 Non-controlling interests 24,400 Total Equity 464,794 Total Liabilities and Equity $ 1,519,116 (1) See Note 10 and Note 13 for additional information on the Company's consolidated VIEs.

Securitization Transactions

Securitization Transactions	12 Months Ended
	Dec. 31, 2019
Securitization Transactions [Abstract]
Securitization Transactions	Securitization Transactions Participation in Multi-Seller Consumer Loan Securitization In August 2016, the Company participated in a securitization transaction whereby the Company, together with another entity managed by Ellington (the "co-participant"), sold consumer loans with an aggregate unpaid principal balance of approximately $124 million to a newly formed securitization trust (the "Issuer"). Of the $124 million in loans sold to the Issuer, the Company's share was 51% while the co-participant's share was 49% . The transfer was accounted for as a sale in accordance with ASC 860-10. Pursuant to the securitization, the Issuer issued senior and subordinated notes in the principal amount of $87.0 million and $18.7 million , respectively. Trust certificates representing beneficial ownership of the Issuer were also issued. In connection with the transaction, and through a jointly owned newly formed entity (the "Acquiror"), the Company and the co-participant acquired all of the subordinated notes as well as the trust certificates in the Issuer. The Company and the co-participant acquired 51% and 49% , respectively, of the interests in the Acquiror. Subsequently, at the direction of the Company and the co-participant, the Acquiror sold the subordinated notes to a third party; such sales occurred prior to January 1, 2019. As of December 31, 2019 , the Company's total interest in the Acquiror was approximately 51.0% . The Company's interest in the Acquiror, for which the Company has elected the FVO, is included on the Consolidated Balance Sheet in Investments in unconsolidated entities, at fair value. The notes and trust certificates issued by the Issuer are backed by the cash flows from the underlying consumer loans. If there are breaches of representations and warranties with respect to any underlying consumer loans, the Company could, under certain circumstances, be required to repurchase or replace such loans. Absent such breaches, the Company has no obligation to repurchase or replace any underlying consumer loans that become delinquent or otherwise default. Cash flows collected on the underlying consumer loans are distributed to service providers to the trust, noteholders, and trust certificate holders in accordance with the contractual priority of payments. In addition, another affiliate of Ellington (the "Administrator"), acts as the administrator for the securitization and is paid a monthly fee for its services. The Issuer and the Acquiror are each deemed to be a VIE. The Company has evaluated its interest in the Issuer under ASC 810, and while the Company retains credit risk in the securitization trust through its beneficial ownership of most of the subordinated interests of the securitization trust, which are the first to absorb credit losses on the securitized assets, the Company does not retain control of these assets or the power to direct the activities of the Issuer that most significantly impact the Issuer's economic performance. As a result the Company determined that neither the Company nor the Acquiror is the primary beneficiary of the Issuer, and therefore the Company has not consolidated the Issuer. Additionally, the Company evaluated its interest in the Acquiror and determined that is does not have the power to direct the activities of the Acquiror that most significantly impact the Acquiror's economic performance. As a result, the Company determined that it is not the primary beneficiary of the Acquiror, and therefore the Company has not consolidated the Acquiror. The maximum amount at risk related to the Company's investment in the Acquiror is limited to the fair value of such investment, which was $3.2 million as of December 31, 2019 . Participation in CLO Transactions Since June 2017, an affiliate of Ellington has sponsored four CLO securitization transactions (the "CLO I Securitization," the "CLO II Securitization," the "CLO III Securitization," and the "CLO IV Securitization"; collectively, the "Ellington-sponsored CLO Securitizations"), collateralized by corporate loans and managed by an affiliate of Ellington (the "CLO Manager"). Ellington, the Company, several other affiliates of Ellington, and in the case of the CLO II Securitization, the CLO III Securitization, and the CLO IV Securitization, several third parties, participated in the Ellington-sponsored CLO Securitizations (collectively, the "CLO Co-Participants"). Pursuant to each Ellington-sponsored CLO Securitization, a newly formed securitization trust (the "CLO I Issuer," the "CLO II Issuer," the "CLO III Issuer," and the "CLO IV Issuer"; collectively, the "CLO Issuers") issued various classes of notes, which were in turn sold to unrelated third parties and the applicable CLO Co-Participants. The notes issued by each CLO Issuer are backed by the cash flows from the underlying corporate loans (including loans to be purchased during a reinvestment period), which are applied in accordance with the contractual priority of payments. For each of the Ellington-sponsored CLO Securitizations, with the exception of the CLO I Securitization, the Company, along with certain other CLO Co-Participants, advanced funds in the form of loans (the "Advances") to the applicable CLO Issuers prior to the CLO pricing date to enable it to establish warehouse facilities for the purpose of acquiring the assets to be securitized. Pursuant to their terms, the Advances are required to be repaid at the closing of the respective securitization. In each Ellington-sponsored CLO Securitization, the Company and each of the applicable CLO Co-Participants purchased various classes of notes issued by the corresponding CLO Issuer. In accordance with the Company's accounting policy for recording certain investment transactions on trade date, these purchases were recorded on the CLO pricing date rather than on the CLO closing date. The CLO Issuers are each deemed to be a VIE. The Company evaluates its interests in the CLO Issuers under ASC 810, and while the Company retains credit risk in each of the securitization trusts through its beneficial ownership of a portion of the subordinated interests of each of the securitization trusts, which are the first to absorb credit losses on the securitized assets, the Company does not retain control of these assets or the power to direct the activities of the CLO Issuers that most significantly impact the CLO Issuers' economic performance. As a result, the Company determined that it is not the primary beneficiary of the CLO Issuers, and therefore the Company has not consolidated the CLO Issuers. The Company's maximum amount at risk is limited to the Company's investment in each of the CLO Issuers. As of December 31, 2019, the fair value of the Company's investment in the notes issued by the CLO Issuers was $39.7 million . The following table provides details of the Ellington-sponsored CLO Securitizations and the Company's initial investments in notes issued by the Ellington-sponsored CLO Securitizations: CLO Issuer (1) CLO Pricing Date CLO Closing Date Total Face Amount of Notes Issued Notes Initially Purchased by the Company Securitization Transaction Face Amount Aggregate Purchase Price (In thousands) CLO I Securitization CLO I Issuer 8/18 8/18 $ 461,840 $ 36,579 (2) $ 25,622 CLO II Securitization CLO II Issuer 12/17 1/18 452,800 18,223 (3) 16,621 CLO III Securitization CLO III Issuer 6/18 7/18 407,100 35,480 (3) 32,394 CLO IV Securitization CLO IV Issuer 2/19 3/19 478,488 12,700 (3) 10,618 (1) The Company is not deemed to be the primary beneficiary of the CLO Issuers, which are deemed to be VIEs, as discussed above. (2) The Company purchased secured and unsecured subordinated notes. (3) The Company purchased secured senior and secured and unsecured subordinated notes. See Note 13 for further details on the Company's participation in CLO transactions. Residential Mortgage Loan Securitizations Since November 2017, the Company, through certain wholly owned subsidiaries (each, a "Sponsor"), has sponsored several securitizations of non-QM loans. In each case, the applicable Sponsor transferred a pool of non-QM loans (each, a Collateral Pool") to a wholly owned entity (each, a "Depositor") and on the closing date such loans were deposited into newly created securitization trusts (collectively, the "Issuing Entities"). Pursuant to the securitizations, the Issuing Entities issued various classes of mortgage pass-through certificates (the "Certificates") which are backed by the cash flows from the underlying non-QM loans. Under the Dodd-Frank Act, sponsors of securitizations are generally required to retain at least 5% of the economic interest in the credit risk of the securitized assets (the "Risk Retention Rules"). In order to comply with the Risk Retention Rules, in each securitization, the applicable Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates. The applicable Sponsor also purchased the Certificates entitled to excess servicing fees in each securitization, while the remaining classes of Certificates were purchased by unrelated parties. Notwithstanding that the Certificates carry final scheduled distribution dates of October 25, 2047 or later, the applicable Depositor may, at its sole option, purchase all of the outstanding Certificates (an "Optional Redemption") following the earlier of (1) the applicable anniversary of the closing date (typically two or three years) of the respective securitization or (2) the date on which the aggregate unpaid principal balance of the applicable Collateral Pool has declined below 30% of the aggregate unpaid principal balance of the applicable Collateral Pool as of the date as of which such loans were originally transferred to the applicable Issuing Entity. The purchase price that the Depositor is required to pay in connection with an Optional Redemption is equal to the sum of the unpaid principal balance of each class of Certificates as of the redemption date and any accrued and unpaid interest thereon. In light of these Optional Redemption rights held by the applicable Depositor, the transfers of non-QM loans to each of the Issuing Entities do not qualify as sales under ASC 860-10. In the event that certain breaches of representations or warranties are discovered with respect to any underlying non-QM loans, the Company could be required to repurchase or replace such loans. Each Sponsor also serves as the servicing administrator of its respective securitization, for which it is entitled to receive a monthly fee equal to one-twelfth of the product of (a) 0.03% and (b) the unpaid principal balance of the underlying non-QM loans as of the first day of the related due period. Each Sponsor in its role as servicing administrator provides direction and consent for certain loss mitigation activities to the third-party servicer of the underlying non-QM loans. In certain circumstances, the servicing administrator will be required to reimburse the servicer for principal and interest advances and servicing advances made by the servicer. In light of the Company's retained interests in each of the securitizations, together with the Optional Redemption rights and the Company's ability to direct the third-party servicer regarding certain loss mitigation activities, the Company is deemed to be the primary beneficiary of the Issuing Entities, which are VIEs, and has consolidated the Issuing Entities. Interest income from these loans and the expenses related to the servicing of these loans are included in Interest income and Investment related expenses—Servicing expense, respectively, on the Consolidated Statement of Operations. The Issuing Entities each meet the definition of a CFE as defined in Note 2, and as a result the assets of each of the Issuing Entities have been valued using the fair value of the liabilities of the respective Issuing Entity, as such liabilities have been assessed to be more observable than such assets. The debt of the Issuing Entities is included in Other secured borrowings, at fair value, on the Consolidated Balance Sheet and is shown net of the Certificates held by the Company. In November 2019, the Company exercised its Optional Redemption right with respect to Ellington Financial Mortgage Trust 2017-1. The following table details the Company's outstanding consolidated residential mortgage loan securitizations: Issuing Entity Closing Date Principal Balance of Loans Transferred to the Depositor Total Face Amount of Certificates Issued (In thousands) Ellington Financial Mortgage Trust 2018-1 11/18 $ 232,518 $ 232,518 (1) Ellington Financial Mortgage Trust 2019-1 6/19 226,913 226,913 (2) Ellington Financial Mortgage Trust 2019-2 11/19 267,255 267,255 (3) (1) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.7% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.3 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. (2) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 6.1% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.2 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. (3) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 6.4% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.7 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. The following table details the assets and liabilities of the consolidated securitization trusts included in the Company's Consolidated Balance Sheet as of December 31, 2019 : (In thousands) December 31, 2019 Assets: Loans, at fair value $ 628,415 Real estate owned 658 Investment related receivables 10,409 Liabilities: Other secured borrowings, at fair value 594,396 Participation in Multi-Seller Consumer Loan Securitization In August 2016, the Company participated in a securitization transaction whereby the Company, together with another entity managed by Ellington (the "co-participant"), sold consumer loans with an aggregate unpaid principal balance of approximately $124 million to a newly formed securitization trust (the "Issuer"). Of the $124 million in loans sold to the Issuer, the Company's share was 51% while the co-participant's share was 49% . The transfer was accounted for as a sale in accordance with ASC 860-10. As a result of the sale the Company recognized a realized loss in the amount of $(0.1) million . Pursuant to the securitization, the Issuer issued senior and subordinated notes in the principal amount of $87 million and $18.7 million , respectively. Trust certificates representing beneficial ownership of the Issuer were also issued. In connection with the transaction, and through a jointly owned newly formed entity (the "Acquiror"), the Company and the co-participant acquired all of the subordinated notes as well as the trust certificates in the Issuer. The Company and the co-participant acquired 51% and 49% , respectively, of the interests in the Acquiror. During 2017, at the co-participant's direction, the Acquiror sold the portion of the subordinated notes beneficially owned by the co-participant, and in 2018, the Acquiror sold the remaining portion of the subordinated notes which were beneficially owned by the Company, and as a result as of December 31, 2018, the Company's total interest in the Acquiror was approximately 62% . The Company's interest in the Acquiror is accounted for as a beneficial interest and is included on the Consolidated Condensed Schedule of Investments in Corporate Equity Investments . The notes and trust certificates issued by the Issuer are backed by the cash flows from the underlying consumer loans. If there are breaches of representations and warranties with respect to any underlying consumer loans, the Company could, under certain circumstances, be required to purchase or replace such loans. Absent such breaches, the Company has no obligation to repurchase or replace any underlying consumer loans that become delinquent or otherwise default. Cash flows collected on the underlying consumer loans are distributed to service providers to the trust, noteholders, and trust certificate holders in accordance with the contractual priority of payments. In addition, another affiliate of Ellington (the "Administrator"), acts as the administrator for the securitization and is paid a monthly fee for its services. While the Company retains credit risk in the securitization trust through its beneficial ownership of the most subordinated interests of the securitization trust, which are the first to absorb credit losses on the securitized assets, the Company does not retain control of these assets or the power to direct the activities of the Issuer that most significantly impact the Issuer's economic performance. See Note 9 for further details on the Company's participation in the multi-seller consumer loan securitization. Participation in CLO Transactions Since June 2017, an affiliate of Ellington sponsored three CLO securitization transactions (the "CLO I Securitization," the "CLO II Securitization," and the "CLO III Securitization"; collectively, the "Ellington-sponsored CLO Securitizations"), collateralized by corporate loans and managed by an affiliate of Ellington (the "CLO Manager"). Ellington, the Company, several other affiliates of Ellington, and, in the case of the CLO II Securitization and the CLO III Securitization, several third parties, participated in the Ellington-sponsored CLO Securitizations (collectively, the "CLO Co-Participants"). Pursuant to each Ellington-sponsored CLO Securitization, a newly formed securitization trust (the "CLO I Issuer," the "CLO II Issuer," and the "CLO III Issuer"; collectively, the "CLO Issuers") issued various classes of notes, which were in turn sold to unrelated third parties and the applicable CLO Co-Participants. The notes issued by each CLO Issuer are backed by the cash flows from the underlying corporate loans (including loans to be purchased during a reinvestment period); these cash flows are applied in accordance with the contractual priority of payments. In the case of the CLO I Securitization, the Company and one CLO Co-Participant transferred corporate loans with a fair value of approximately $62.0 million and $141.7 million , respectively, to the CLO I Issuer in exchange for cash. The Company has no obligation to repurchase or replace securitized corporate loans that subsequently become delinquent or are otherwise in default, and the transfer by the Company was accounted for as a sale in accordance with ASC 860-10. As a result of the sale, the Company recognized a realized gain in the amount of $0.2 million . In the case of the CLO II Securitization and the CLO III Securitization, the Company, along with certain other CLO Co-Participants, advanced funds in the form of loans (the "Advances") to the applicable CLO Issuers prior to the CLO pricing date to enable it to establish warehouse facilities for the purpose of acquiring the assets to be securitized. Pursuant to their terms, the Advances are required to be repaid at the closing of the respective securitization. In each Ellington-sponsored CLO Securitization, the Company and each of the applicable CLO Co-Participants purchased various classes of notes issued by the corresponding CLO Issuer. In accordance with the Company's accounting policy for recording certain investment transactions on trade date, these purchases were recorded on the CLO pricing date rather than the CLO closing date. In addition, in the case of each of the CLO I Securitization and the CLO II Securitization, the Company and the CLO Co-Participants also funded a newly formed entity (the "CLO I Risk Retention Vehicle" and the "CLO II Risk Retention Vehicle") to purchase a sufficient portion of the unsecured subordinated notes issued by the applicable CLO Issuer so as to comply with risk retention rules (the "Risk Retention Rules") under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, as further described below. With respect to each Ellington-sponsored CLO Securitization, the Company subsequently sold a portion of the notes that it had originally purchased. As of December 31, 2018, the Company did not have an ownership interest in the CLO I Risk Retention Vehicle. Under the Risk Retention Rules, sponsors of securitizations are generally required to retain at least 5% of the economic interest in the credit risk of the securitized assets. However, in February 2018, the U.S. Court of Appeals for the District of Columbia Circuit, or the "Court of Appeals," ruled that open-market CLO securitizations are exempt from the Risk Retention Rules, as long as certain requirements are met, and in April 2018 the Court of Appeals gave effect to this ruling. As a result, Risk Retention Rules no longer apply to managers of open-market CLOs, and those managers are now permitted to sell the interests in existing open-market CLOs that were originally retained in order to comply with the Risk Retention Rules, as long as those securitizations meet the requirements for exemption. After the decision by the Court of Appeals, the CLO Manager determined that the CLO II Securitization met the requirements for exemption from the Risk Retention Rules and subsequently distributed, in-kind, the subordinated notes held in the CLO II Risk Retention Vehicle to the CLO Co-Participants pro rata based on each CLO Co-Participant's respective ownership percentage of the CLO II Risk Retention Vehicle. The subordinated notes distributed to the Company from the CLO II Risk Retention Vehicle had a face amount of $5.6 million . Such notes had a fair value of $4.3 million as of December 31, 2018 and are included on the Company's Consolidated Condensed Schedule of Investments in Collateralized Loan Obligations and in the table below. The Manager of CLO III Securitization was not required to establish a risk retention vehicle because the transaction closed subsequent to the effectiveness of the ruling by the Court of Appeals. In August 2018, the CLO I Issuer optionally redeemed all of the notes issued by the CLO I Securitization. Simultaneously with this optional redemption, the CLO I Issuer issued various classes of new notes, which were in turn sold to unrelated third parties and to the applicable CLO Co-Participants ("the Reset CLO I Securitization"). These new notes are backed by the cash flows from the underlying corporate loans (including loans to be purchased during a reinvestment period); these cash flows are applied in accordance with the contractual priority of payments. The CLO Manager determined that the Reset CLO I Securitization met the requirements for exemption from the Risk Retention Rules. As a result, the CLO Manager commenced liquidation of the CLO I Risk Retention Vehicle, and all of the liquidation proceeds have been distributed to the applicable CLO Co-Participants. As of December 31, 2018, the Company has received $5.7 million in liquidation proceeds from the CLO I Risk Retention Vehicle. While the Company retains credit risk in each of the Ellington-sponsored CLO Securitizations through its beneficial ownership of the most subordinated interests of each of the securitization trusts, which are the first to absorb credit losses on the securitized assets, the Company does not retain control of these assets nor does it have the power to direct the activities of the CLO Issuers that most significantly impact the CLO Issuers' economic performance. The following table details the Company's investments in notes issued by the Ellington-sponsored CLO Securitizations: CLO Issuer (1) CLO Pricing Date CLO Closing Date Total Face Amount of Notes Issued Face Amount of Notes Initially Purchased Aggregate Purchase Price Notes Held (2) as of December 31, 2018 ($ in thousands) CLO I Issuer (3)(4) 5/17 6/17 $ 373,550 $ 36,606 (5) $ 35,926 $ — CLO I Issuer (4) 8/18 8/18 461,840 36,579 (5) 25,622 16,973 (6) CLO II Issuer 12/17 1/18 452,800 18,223 (7) 16,621 14,721 (6) CLO III Issuer 6/18 7/18 407,100 35,480 (7) 32,394 19,071 (8) (1) The Company does not have the power to direct the activities of the CLO Issuers that most significantly impact their economic performance. (2) Included on the Company's Consolidated Condensed Schedule of Investments in Collateralized Loan Obligations. (3) Excludes the Company's equity investment in the CLO I Risk Retention Vehicle, as discussed above. (4) In August 2018, the notes originally issued by the CLO I Issuer in 2017 were fully redeemed, and the CLO I Issuer simultaneously issued new notes in conjunction with this full redemption. (5) The Company purchased secured and unsecured subordinated notes. (6) Includes secured and unsecured subordinated notes. (7) The Company purchased secured senior and secured and unsecured subordinated notes. (8) Includes secured senior and secured and unsecured subordinated notes. See Note 9 for further details on the Company's participation in CLO transactions. Residential Mortgage Loan Securitizations Since November 2017, the Company, through its wholly owned subsidiary, Ellington Financial REIT TRS LLC (the "Sponsor"), has sponsored two securitizations of non-QM loans. In each case, the Sponsor transferred non-QM loans to a wholly owned, newly created entity (the "Depositor") and on the closing date such loans were deposited into newly created securitization trusts (Ellington Financial Mortgage Trust 2017-1 and Ellington Financial Mortgage Trust 2018-1, collectively the "Issuing Entities"). Pursuant to the securitizations, the Issuing Entities issued various classes of mortgage pass-through certificates (the "Certificates") which are backed by the cash flows from the underlying non-QM loans. As detailed further in the table below, in order to comply with the Risk Retention Rules, in each securitization the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates. The Sponsor also purchased the Certificates entitled to excess servicing fees in each securitization, while the remaining classes of Certificates were purchased by unrelated parties. The Certificates issued in November 2017 and 2018 have final scheduled distribution dates of October 25, 2047 and October 25, 2058, respectively. However, the Depositor may, with respect to each securitization, at its sole option, purchase all of the outstanding Certificates (an "Optional Redemption") following the earlier of (1) the two year anniversary of the closing date of such securitization or (2) the date on which the aggregate unpaid principal balance of the underlying non-QM loans has declined below 30% of the aggregate unpaid principal balance of the underlying non-QM loans as of the date as of which such loans were originally transferred to the applicable Issuing Entity. The purchase price that the Depositor is required to pay in connection with an Optional Redemption is equal to the sum of the unpaid principal balance of each class of Certificates as of the redemption date and any accrued and unpaid interest thereon. In light of these Optional Redemption rights held by the Depositor, the transfers of non-QM loans to each of the Issuing Entities do not qualify as sales under ASC 860, Transfers and Servicing. In the event that certain breaches of representations or warranties are discovered with respect to any underlying non-QM loans, the Company could be required to repurchase or replace such loans. The Sponsor also serves as the servicing administrator of each securitization and as such, is entitled to receive a monthly fee equal to one-twelfth of the product of (a) 0.03% and (b) the unpaid principal balance of the underlying non-QM loans as of the first day of the related due period. The Sponsor in its role as servicing administrator provides direction and consent for certain loss mitigation activities to the third-party servicer of the underlying non-QM loans. In certain circumstances, the servicing administrator will be required to reimburse the servicer for principal and interest advances and servicing advances made by the servicer. In light of the Company's retained interests in each of the securitizations, together with the Optional Redemption rights and the Company's ability to direct the third-party servicer regarding certain loss mitigation activities, the Issuing Entities are deemed to be an extension of the Company's business. The non-QM loans held by the Issuing Entities are included on the Consolidated Condensed Schedule of Investments in Mortgage Loans. Interest income from these loans and the expenses related to the servicing of these loans are included in Interest income and Other investment related expenses—Servicing expense, respectively, on the Consolidated Statement of Operations. The Issuing Entities each meet the definition of a CFE as defined in Note 2, and as a result the assets of the Issuing Entities have been valued using the fair value of the liabilities of the Issuing Entities, as such liabilities have been assessed to be more observable than such assets. The debt of the Issuing Entities is included in Other secured borrowings, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity and is shown net of the Certificates held by the Company. The following table details the residential mortgage loan securitizations: Issuing Entity Closing Date Principal Balance of Loans Transferred to the Depositor Total Face Amount of Certificates Issued (In thousands) Ellington Financial Mortgage Trust 2017-1 11/15/2017 $ 141,233 $ 141,233 (1) Ellington Financial Mortgage Trust 2018-1 11/13/2018 232,518 232,518 (2) (1) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.1% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $0.7 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. (2) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.7% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.3 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. The following table details the assets and liabilities of the consolidated securitization trusts included in the Company's Consolidated Statement of Assets, Liabilities, and Equity as of December 31, 2018: As of (In thousands) December 31, 2018 Assets: Investments, at fair value $ 314,202 Interest and dividends receivable 3,527 Liabilities: Interest and dividends payable 103 Other secured borrowings, at fair value 297,948

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Borrowings	360 Days 140,306 5.15 % 636 Total Credit Assets 581,314 3.98 % 240 U.S. Treasury Securities: 30 Days or Less 273 3.10 % 2 Total U.S. Treasury Securities 273 3.10 % 2 Total $ 1,498,849 3.13 % 122 Reverse repurchase agreements involving underlying investments that the Company sold prior to period end, for settlement following period end, are shown using their original maturity dates even though such reverse repurchase agreements may be expected to be terminated early upon settlement of the sale of the underlying investment. As of December 31, 2018, the fair value of investments transferred as collateral under outstanding borrowings under reverse repurchase agreements was $1.79 billion . Collateral transferred under outstanding borrowings as of December 31, 2018 include investments in the amount of $86.7 million that were sold prior to period end but for which such sale had not yet settled. In addition the Company posted net cash collateral of $17.0 million and additional securities with a fair value of $0.2 million as of December 31, 2018 to its counterparties. As of December 31, 2018, there were no counterparties for which the amount at risk relating to our repurchase agreements was greater than 10% of total equity. Other Secured Borrowings In February 2018, the Company entered into agreements to finance a portfolio of unsecured loans through a recourse secured borrowing facility. The facility includes a one year revolving period (or earlier following an early amortization event or event of default), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. After the revolving period ends, the facility has a two-year term ending in February 2021. The facility accrues interest on a floating rate basis. As of December 31, 2018, the Company had outstanding borrowings under this facility in the amount of $13.2 million which is included under the caption Other secured borrowings, on the Company's Consolidated Statement of Assets, Liabilities, and Equity, and the effective interest rate, inclusive of related deferred financing costs, was 4.72% . As of December 31, 2018, the fair value of unsecured loans collateralizing this borrowing was $20.3 million . In December 2017, the Company amended its non-recourse secured borrowing facility that is used to finance a portfolio of unsecured loans. The facility includes a reinvestment period ending in December 2019 (or earlier following an early amortization event), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. Following the reinvestment period, the facility will begin to amortize based on the collections from the underlying loans. The facility accrues interest on a floating rate basis. As of December 31, 2018 the Company had outstanding borrowings under this facility in the amount of $101.0 million which is included under the caption Other secured borrowings, on the Company's Consolidated Statement of Assets, Liabilities, and Equity, and the effective interest rate on this facility, inclusive of related deferred financing costs, was 4.68% as of December 31, 2018. As of December 31, 2018 the fair value of unsecured loans collateralizing this borrowing was $149.0 million . The Company has completed securitization transactions, as discussed in Note 6, whereby it financed portfolios of non-QM loans. As of December 31, 2018 the fair value of the Company's outstanding liabilities associated with these securitization transactions were $297.9 million , representing the fair value of the securitization trust certificates held by third parties as of such date, and is included on Company's Consolidated Statement of Assets, Liabilities, and Equity in Other Secured Borrowings, at fair value. The weighted average coupon on the Certificates held by third parties was 3.72% as of December 31, 2018. As of December 31, 2018 the fair value of non-QM loans held in the securitization trusts were $314.2 million . Unsecured Borrowings Senior Notes On August 18, 2017, the Company issued $86.0 million in aggregate principal amount of Senior Notes. The total net proceeds to the Company from the issuance of the Senior Notes was approximately $84.7 million , after deducting debt issuance costs. The Senior Notes bear an interest rate of 5.25% , subject to adjustment based on changes in the ratings, if any, of the Senior Notes. Interest on the Senior notes is payable semi-annually in arrears on March 1 and September 1 of each year. The Senior Notes mature on September 1, 2022 . The Company may redeem the Senior Notes, at its option, in whole or in part, prior to March 1, 2022 at a price equal to 100% of the principal amount thereof, plus the applicable "make-whole" premium as of the applicable date of redemption. At any time on or after March 1, 2022, the Company may redeem the Senior Notes, in whole or in part, at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest. The Senior Notes are carried at amortized cost. There are a number of covenants, including several financial covenants, associated with the Senior Notes. As of December 31, 2018 the Company was in compliance with all of its covenants. The Company amortizes debt issuance costs over the life of the associated debt; the amortized portion of debt issuance costs is included in Interest expense on the Consolidated Statement of Operations. The Senior Notes have an effective interest rate of 5.55% , inclusive of debt issuance costs. The Senior Notes are unsecured and are effectively subordinated to secured indebtedness of the Company, to the extent of the value of the collateral securing such indebtedness. Schedule of Principal Repayments The following table details the Company's principal repayment schedule for outstanding borrowings as of December 31, 2018: Year Reverse Repurchase Agreements (1) Other Secured Borrowings (2) Senior Notes (1) Total (In thousands) 2019 $ 1,358,542 $ 194,135 $ — $ 1,552,677 2020 78,530 205,198 — 283,728 2021 61,776 13,150 — 74,926 2022 — — 86,000 86,000 2023 — — — — Total $ 1,498,848 $ 412,483 $ 86,000 $ 1,997,331 (1) Reflects the Company's contractual principal repayment dates. (2) Reflects the Company's expected principal repayment dates." id="sjs-B4">Borrowings Secured Borrowings The Company's secured borrowings consist of repurchase agreements, Other secured borrowings, and Other secured borrowings, at fair value. As of December 31, 2019 , the Company's total secured borrowings were $3.2 billion . Repurchase Agreements The Company enters into repurchase agreements. A repurchase agreement involves the sale of an asset to a counterparty together with a simultaneous agreement to repurchase the transferred asset or similar asset from such counterparty at a future date. The Company accounts for its repurchase agreements as collateralized borrowings, with the transferred assets effectively serving as collateral for the related borrowing. The Company's repurchase agreements typically range in term from 30 to 180 days, although the Company also has repurchase agreements that provide for longer or shorter terms. The principal economic terms of each repurchase agreement—such as loan amount, interest rate, and maturity date—are typically negotiated on a transaction-by-transaction basis. Other terms and conditions, such as those relating to events of default, are typically governed under the Company's master repurchase agreements. Absent an event of default, the Company maintains beneficial ownership of the transferred securities during the term of the repurchase agreement and receives the related principal and interest payments. Interest rates on these borrowings are generally fixed based on prevailing rates corresponding to the terms of the borrowings, and for most repurchase agreements, interest is generally paid at the termination of the repurchase agreement, at which time the Company may enter into a new repurchase agreement at prevailing market rates with the same counterparty, repay that counterparty and possibly negotiate financing terms with a different counterparty, or choose to no longer finance the related asset. Some repurchase agreements provide for periodic payments of interest, such as monthly payments. In response to a decline in the fair value of the transferred securities, whether as a result of changes in market conditions, security paydowns, or other factors, repurchase agreement counterparties will typically make a margin call, whereby the Company will be required to post additional securities and/or cash as collateral with the counterparty in order to re-establish the agreed-upon collateralization requirements. In the event of increases in fair value of the transferred securities, the Company can generally require the counterparty to post collateral with it in the form of cash or securities. The Company is generally permitted to sell or re-pledge any securities posted by the counterparty as collateral; however, upon termination of the repurchase agreement, or other circumstance in which the counterparty is no longer required to post such margin, the Company must return to the counterparty the same security that had been posted. At any given time, the Company seeks to have its outstanding borrowings under repurchase agreements with several different counterparties in order to reduce the exposure to any single counterparty. The Company had outstanding borrowings under repurchase agreements with 28 counterparties as of December 31, 2019 . As of December 31, 2019 remaining days to maturity on the Company's open repurchase agreements ranged from 2 days to 882 days . Interest rates on the Company's open repurchase agreements ranged from 0.15% to 5.20% as of December 31, 2019 . The following table details the Company's outstanding borrowings under repurchase agreements for Agency RMBS and credit assets (which include non-Agency RMBS, CMBS, CLOs, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), by remaining maturity as of December 31, 2019 : (In thousands) December 31, 2019 Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Agency RMBS: 30 Days or Less $ 511,996 2.08 % 17 31-60 Days 744,387 1.93 % 47 61-90 Days 594,738 1.96 % 76 91-120 Days 10,270 2.24 % 93 151-180 Days 3,082 2.67 % 171 Total Agency RMBS 1,864,473 1.98 % 48 Credit: 30 Days or Less 16,549 3.38 % 25 31-60 Days 104,491 3.14 % 48 61-90 Days 138,837 3.03 % 73 121-150 Days 7,460 3.89 % 123 151-180 Days 31,498 3.87 % 173 181-360 Days 186,661 3.80 % 250 > 360 Days 95,331 4.52 % 678 Total Credit Assets 580,827 3.61 % 229 Total $ 2,445,300 2.37 % 91 Repurchase agreements involving underlying investments that the Company sold prior to period end, for settlement following period end, are shown using their original maturity dates even though such repurchase agreements may be expected to be terminated early upon settlement of the sale of the underlying investment. As of December 31, 2019 , the fair value of investments transferred as collateral under outstanding borrowings under repurchase agreements was $2.763 billion . Collateral transferred under outstanding borrowings under repurchase agreements as of December 31, 2019 include investments in the amount of $64.7 million that were sold prior to period end but for which such sale had not yet settled. In addition the Company posted net cash collateral of $31.0 million and additional securities with a fair value of $0.2 million as of December 31, 2019 to its counterparties. As of December 31, 2019 , there were no counterparties for which the amount at risk relating to our repurchase agreements was greater than 10% of total equity. Other Secured Borrowings In February 2018, the Company entered into agreements to finance a portfolio of unsecured loans through a recourse secured borrowing facility. The facility has a term ending in February 2021. The facility accrues interest on a floating-rate basis. As of December 31, 2019 , the Company had outstanding borrowings under this facility in the amount of $16.0 million which is included under the caption Other secured borrowings, on the Company's Consolidated Balance Sheet, and the effective interest rate, inclusive of related deferred financing costs, was 3.85% . As of December 31, 2019 , the fair value of unsecured loans collateralizing this borrowing was $22.3 million . In November 2019, the Company amended its non-recourse secured borrowing facility that is used to finance a portfolio of unsecured loans. The facility includes a reinvestment period ending in December 2020 (or earlier following an early amortization event), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. Following the reinvestment period, the facility will begin to amortize based on the collections from the underlying loans. The facility accrues interest on a floating rate basis. As of December 31, 2019 , the Company had outstanding borrowings under this facility in the amount of $102.5 million , which is included under the caption Other secured borrowings, on the Company's Consolidated Balance Sheet, and the effective interest rate on this facility, inclusive of related deferred financing costs, was 4.01% . As of December 31, 2019 , the fair value of unsecured loans collateralizing this borrowing was $144.1 million . In December 2019, the Company entered into an agreement to finance a portfolio of ABS backed by consumer loans through a recourse secured borrowing facility. The facility includes a revolving borrowing period ending in June 2021 (or earlier following a trigger event), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. Following the revolving borrowing period, the facility amortizes, with a final termination date in June 2023. The facility accrues interest on a floating rate basis. As of December 31, 2019 , the Company had outstanding borrowings under this facility in the amount of $31.8 million , which is included under the caption Other secured borrowings, on the Company's Consolidated Balance Sheet, and the effective interest rate on this facility, inclusive of related deferred financing costs, was 5.23% . As of December 31, 2019 , the fair value of ABS backed by consumer loans collateralizing this borrowing was $47.9 million . The Company has completed securitization transactions, as discussed in Note 10, whereby it financed portfolios of non-QM loans. As of December 31, 2019 , the fair value of the Company's outstanding liabilities associated with these securitization transactions was $594.4 million , representing the fair value of the securitization trust certificates held by third parties as of such date, and is included on the Company's Consolidated Balance Sheet in Other secured borrowings, at fair value. The weighted average coupon of the Certificates held by third parties was 3.19% as of December 31, 2019 . As of December 31, 2019 , the fair value of non-QM loans and the carrying value of REO held in the consolidated securitization trusts was $629.1 million . Unsecured Borrowings Senior Notes On August 18, 2017, the Company issued $86.0 million in aggregate principal amount of unsecured senior notes (the "Old Senior Notes"). The total net proceeds to the Company from the issuance of the Old Senior Notes was approximately $84.7 million , after deducting debt issuance costs. The Old Senior Notes had an interest rate of 5.25% , subject to adjustment based on changes in the ratings, if any, of the Old Senior Notes. On February 13, 2019, in connection with the REIT Election, the Company exchanged all $86.0 million in principal amount of the Old Senior Notes for new unsecured long-term debt jointly and severally co-issued by certain of its consolidated subsidiaries and fully guaranteed by the Company (the "Senior Notes"). At any time, the Company is permitted to add others of its consolidated subsidiaries as co-issuers of the Senior Notes. The Senior Notes bear interest at a rate of 5.50% , subject to adjustment based on changes, if any, in the ratings of the Senior Notes. Interest on the Senior Notes is payable semi-annually in arrears on March 1 and September 1 of each year. The Senior Notes mature on September 1, 2022 . The Company may redeem the Senior Notes, at its option, in whole or in part, prior to March 1, 2022 at a price equal to 100% of the principal amount thereof, plus the applicable "make-whole" premium as of the applicable date of redemption. At any time on or after March 1, 2022, the Company may redeem the Senior Notes, in whole or in part, at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest. The Senior Notes are carried at amortized cost. There are a number of covenants, including several financial covenants, associated with the Senior Notes. As of December 31, 2019 , the Company was in compliance with all of its covenants. The Company amortizes debt issuance costs over the life of the associated debt; the amortized portion of debt issuance costs is included in Interest expense on the Consolidated Statement of Operations. The Senior Notes have an effective interest rate of 5.80% , inclusive of debt issuance costs. The Senior Notes are unsecured and are effectively subordinated to secured indebtedness of the Company, to the extent of the value of the collateral securing such indebtedness. Schedule of Principal Repayments The following table details the Company's principal repayment schedule for outstanding borrowings as of December 31, 2019 : Year Repurchase Agreements (1) Other Secured Borrowings (2) Senior Notes (1) Total (In thousands) 2020 $ 2,349,969 $ 291,364 $ — $ 2,641,333 2021 38,516 243,856 — 282,372 2022 56,815 203,039 86,000 345,854 2023 — — — — 2024 — — — — Total $ 2,445,300 $ 738,259 $ 86,000 $ 3,269,559 (1) Reflects the Company's contractual principal repayment dates. (2) Reflects the Company's expected principal repayment dates, which may be prior to the stated contractual maturities. Secured Borrowings The Company's secured borrowings consist of reverse repurchase agreements, Other secured borrowings, and Other secured borrowings, at fair value. As of December 31, 2018 the Company's total secured borrowings were $1.911 billion . Reverse Repurchase Agreements The Company enters into reverse repurchase agreements. A reverse repurchase agreement involves the sale of an asset to a counterparty together with a simultaneous agreement to repurchase the transferred asset or similar asset from such counterparty at a future date. The Company accounts for its reverse repurchase agreements as collateralized borrowings, with the transferred assets effectively serving as collateral for the related borrowing. The Company's reverse repurchase agreements typically range in term from 30 to 180 days, although the Company also has reverse repurchase agreements that provide for longer or shorter terms. The principal economic terms of each reverse repurchase agreement—such as loan amount, interest rate, and maturity date—are typically negotiated on a transaction-by-transaction basis. Other terms and conditions, such as those relating to events of default, are typically governed under the Company's master repurchase agreements. Absent an event of default, the Company maintains beneficial ownership of the transferred securities during the term of the reverse repurchase agreement and receives the related principal and interest payments. Interest rates on these borrowings are generally fixed based on prevailing rates corresponding to the terms of the borrowings, and for most reverse repurchase agreements, interest is generally paid at the termination of the reverse repurchase agreement, at which time the Company may enter into a new reverse repurchase agreement at prevailing market rates with the same counterparty, repay that counterparty and possibly negotiate financing terms with a different counterparty, or choose to no longer finance the related asset. Some reverse repurchase agreements provide for periodic payments of interest, such as monthly payments. In response to a decline in the fair value of the transferred securities, whether as a result of changes in market conditions, security paydowns, or other factors, reverse repurchase agreement counterparties will typically make a margin call, whereby the Company will be required to post additional securities and/or cash as collateral with the counterparty in order to re-establish the agreed-upon collateralization requirements. In the event of increases in fair value of the transferred securities, the Company can generally require the counterparty to post collateral with it in the form of cash or securities. The Company is generally permitted to sell or re-pledge any securities posted by the counterparty as collateral; however, upon termination of the reverse repurchase agreement, or other circumstance in which the counterparty is no longer required to post such margin, the Company must return to the counterparty the same security that had been posted. At any given time, the Company seeks to have its outstanding borrowings under reverse repurchase agreements with several different counterparties in order to reduce the exposure to any single counterparty. The Company had outstanding borrowings under reverse repurchase agreements with 23 counterparties as of December 31, 2018. At December 31, 2018, approximately 21% of open reverse repurchase agreements were with one counterparty. As of December 31, 2018 remaining days to maturity on the Company's open reverse repurchase agreements ranged from 2 days to 871 days. Interest rates on the Company's open reverse repurchase agreements ranged from 0.23% to 6.07% as of December 31, 2018. The following table details the Company's outstanding borrowings under reverse repurchase agreements for Agency RMBS, credit assets (which include non-Agency MBS, CLOs, consumer loans, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), and U.S. Treasury securities, by remaining maturity as of December 31, 2018: (In thousands) December 31, 2018 Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Agency RMBS: 30 Days or Less $ 245,956 2.46 % 17 31-60 Days 415,379 2.58 % 46 61-90 Days 255,421 2.74 % 76 91-120 Days 506 3.31 % 91 Total Agency RMBS 917,262 2.59 % 47 Credit: 30 Days or Less 30,426 2.55 % 22 31-60 Days 189,937 3.32 % 48 61-90 Days 93,202 3.21 % 74 121-150 Days 26,222 4.60 % 123 151-180 Days 9,491 4.64 % 166 181-360 Days 91,730 4.54 % 316 > 360 Days 140,306 5.15 % 636 Total Credit Assets 581,314 3.98 % 240 U.S. Treasury Securities: 30 Days or Less 273 3.10 % 2 Total U.S. Treasury Securities 273 3.10 % 2 Total $ 1,498,849 3.13 % 122 Reverse repurchase agreements involving underlying investments that the Company sold prior to period end, for settlement following period end, are shown using their original maturity dates even though such reverse repurchase agreements may be expected to be terminated early upon settlement of the sale of the underlying investment. As of December 31, 2018, the fair value of investments transferred as collateral under outstanding borrowings under reverse repurchase agreements was $1.79 billion . Collateral transferred under outstanding borrowings as of December 31, 2018 include investments in the amount of $86.7 million that were sold prior to period end but for which such sale had not yet settled. In addition the Company posted net cash collateral of $17.0 million and additional securities with a fair value of $0.2 million as of December 31, 2018 to its counterparties. As of December 31, 2018, there were no counterparties for which the amount at risk relating to our repurchase agreements was greater than 10% of total equity. Other Secured Borrowings In February 2018, the Company entered into agreements to finance a portfolio of unsecured loans through a recourse secured borrowing facility. The facility includes a one year revolving period (or earlier following an early amortization event or event of default), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. After the revolving period ends, the facility has a two-year term ending in February 2021. The facility accrues interest on a floating rate basis. As of December 31, 2018, the Company had outstanding borrowings under this facility in the amount of $13.2 million which is included under the caption Other secured borrowings, on the Company's Consolidated Statement of Assets, Liabilities, and Equity, and the effective interest rate, inclusive of related deferred financing costs, was 4.72% . As of December 31, 2018, the fair value of unsecured loans collateralizing this borrowing was $20.3 million . In December 2017, the Company amended its non-recourse secured borrowing facility that is used to finance a portfolio of unsecured loans. The facility includes a reinvestment period ending in December 2019 (or earlier following an early amortization event), whereby the Company can vary its borrowings based on the size of its portfolio, subject to certain maximum limits. Following the reinvestment period, the facility will begin to amortize based on the collections from the underlying loans. The facility accrues interest on a floating rate basis. As of December 31, 2018 the Company had outstanding borrowings under this facility in the amount of $101.0 million which is included under the caption Other secured borrowings, on the Company's Consolidated Statement of Assets, Liabilities, and Equity, and the effective interest rate on this facility, inclusive of related deferred financing costs, was 4.68% as of December 31, 2018. As of December 31, 2018 the fair value of unsecured loans collateralizing this borrowing was $149.0 million . The Company has completed securitization transactions, as discussed in Note 6, whereby it financed portfolios of non-QM loans. As of December 31, 2018 the fair value of the Company's outstanding liabilities associated with these securitization transactions were $297.9 million , representing the fair value of the securitization trust certificates held by third parties as of such date, and is included on Company's Consolidated Statement of Assets, Liabilities, and Equity in Other Secured Borrowings, at fair value. The weighted average coupon on the Certificates held by third parties was 3.72% as of December 31, 2018. As of December 31, 2018 the fair value of non-QM loans held in the securitization trusts were $314.2 million . Unsecured Borrowings Senior Notes On August 18, 2017, the Company issued $86.0 million in aggregate principal amount of Senior Notes. The total net proceeds to the Company from the issuance of the Senior Notes was approximately $84.7 million , after deducting debt issuance costs. The Senior Notes bear an interest rate of 5.25% , subject to adjustment based on changes in the ratings, if any, of the Senior Notes. Interest on the Senior notes is payable semi-annually in arrears on March 1 and September 1 of each year. The Senior Notes mature on September 1, 2022 . The Company may redeem the Senior Notes, at its option, in whole or in part, prior to March 1, 2022 at a price equal to 100% of the principal amount thereof, plus the applicable "make-whole" premium as of the applicable date of redemption. At any time on or after March 1, 2022, the Company may redeem the Senior Notes, in whole or in part, at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest. The Senior Notes are carried at amortized cost. There are a number of covenants, including several financial covenants, associated with the Senior Notes. As of December 31, 2018 the Company was in compliance with all of its covenants. The Company amortizes debt issuance costs over the life of the associated debt; the amortized portion of debt issuance costs is included in Interest expense on the Consolidated Statement of Operations. The Senior Notes have an effective interest rate of 5.55% , inclusive of debt issuance costs. The Senior Notes are unsecured and are effectively subordinated to secured indebtedness of the Company, to the extent of the value of the collateral securing such indebtedness. Schedule of Principal Repayments The following table details the Company's principal repayment schedule for outstanding borrowings as of December 31, 2018: Year Reverse Repurchase Agreements (1) Other Secured Borrowings (2) Senior Notes (1) Total (In thousands) 2019 $ 1,358,542 $ 194,135 $ — $ 1,552,677 2020 78,530 205,198 — 283,728 2021 61,776 13,150 — 74,926 2022 — — 86,000 86,000 2023 — — — — Total $ 1,498,848 $ 412,483 $ 86,000 $ 1,997,331 (1) Reflects the Company's contractual principal repayment dates. (2) Reflects the Company's expected principal repayment dates.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax [Abstract]
Income Taxes	Income Taxes The Company believes that, commencing on January 1, 2019, it was organized in conformity with the requirements for qualification and taxation as a REIT under the U.S. federal income tax laws and that its manner of operation enables it to meet the requirements for qualification and taxation as a REIT. A REIT is generally not subject to U.S. federal, state, and local income tax on the portion of its income that is distributed to its owners if it distributes at least 90% of its REIT taxable income within the prescribed time frames, determined without regard to the deduction for dividends paid and excluding any net capital gains. The Company intends to operate in a manner which will allow it to continue to meet the requirements for qualification as a REIT. Accordingly, Ellington Financial Inc. does not believe that it will be subject to U.S. federal, state, and local income tax on the portion of its net taxable income that is distributed to its stockholders as long as certain asset, income, and share ownership tests are met. Cash dividends declared by the Company that do not exceed its current or accumulated earnings and profits will be considered ordinary income to stockholders for income tax purposes unless all or a portion of a dividend is designated by the Company as a capital gain dividend. Distributions in excess of the Company's current and accumulated earnings and profits will be characterized as return of capital or capital gains. The following table details the tax characteristics of the Company's dividends declared on its shares of common and preferred stock for the year ended December 31, 2019. Tax Characteristic Year Ended Ordinary income 85.0 % Return of capital 9.4 % Capital gains 5.6 % 100.0 % Certain foreign and domestic subsidiaries of the Company have elected to be treated as TRSs and therefore are taxed as corporations for U.S. federal, state, and local income tax purposes. To the extent that those entities incur U.S. federal, state, or local income taxes, or foreign income taxes, such taxes are recorded in the Company's consolidated financial statements. For the year ended December 31, 2019, the Company recorded income tax expense of $1.6 million , of which $1.1 million related to a net deferred tax liability. The Company accounts for income taxes in accordance with ASC 740, Income Taxes . Deferred income taxes reflect the net tax effects of temporary differences that may exist between the carrying amounts of assets and liabilities under U.S. GAAP and the carrying amounts used for income tax purposes. Taxable income can differ from net income (loss) principally due to differences in the timing of recognition of interest, taxes, depreciation, and amortization of assets. The following table summarizes the Company's income tax provision for the year ended December 31, 2019. (In thousands) Year Ended Current income tax provision Federal $ 185 State 293 Total current income tax provision, net 478 Deferred income tax provision Federal 1,080 State — Total deferred income tax provision, net 1,080 Total income tax provision $ 1,558 The following table details the components of the Company's net deferred tax asset (liability) at December 31, 2019. (In thousands) Year Ended Deferred tax asset Net operating loss available for carry-back and carry-forward $ 3,907 Basis difference for investments 669 Valuation allowance (157 ) Deferred tax asset 4,419 Deferred tax liability Basis difference for investments (5,484 ) Deferred tax liability (5,484 ) Net deferred tax asset (liability) $ (1,065 ) The following table details the reconciliation between the Company's U.S. federal and state statutory income tax rate and the effective tax rate for the year ended December 31, 2019. Year Ended Federal statutory rate 21.00 % State statutory rate, net of federal benefit 0.45 % Income attributable to non-controlling interests (1.28 )% REIT earnings not subject to corporate taxes (17.76 )% Effective tax rate 2.41 % The Company has certain subsidiaries that have elected to be treated as corporations for U.S. federal, state, and local income tax purposes. The Company accounts for income taxes in accordance with ASC 740, Income Taxes . Deferred income taxes reflect the net tax effects of temporary differences that may exist between the carrying amounts of assets and liabilities under U.S. GAAP and the amounts used for income tax purposes. As of December 31, 2018, one of the Company's domestic TRS's had a net operating loss carry-forward, resulting in a gross deferred tax asset, which has been fully reserved through a valuation allowance.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company is party to the Management Agreement (which may be amended from time to time), pursuant to which the Manager manages the assets, operations, and affairs of the Company, in consideration of which the Company pays the Manager management and incentive fees. The descriptions of the Base Management Fees and Incentive Fees are detailed below. Base Management Fees The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges. Pursuant to the Management Agreement, if the Company invests at issuance in the equity of any collateralized debt obligation that is managed, structured, or originated by Ellington or one of its affiliates, or if the Company invests in any other investment fund or other investment for which Ellington or one of its affiliates receives management, origination, or structuring fees, then, unless agreed otherwise by a majority of the Company's independent directors, the base management and incentive fees payable by the Company to its Manager will be reduced by an amount equal to the applicable portion (as described in the Management Agreement) of any such management, origination, or structuring fees. For the year ended December 31, 2019 , the total base management fee incurred was $8.0 million , consisting of $10.0 million of total gross base management fee incurred, less $2.0 million of management fee rebates. See "— Participation in CLO Transactions " below for details on management fee rebates. Incentive Fees The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of December 31, 2019 , there was no Loss Carryforward. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common stock and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares of common stock and OP Units issued in such issuance and the number of days that such issued shares of common stock and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting ( i.e. attributing any share of common stock and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to shares of common stock and OP Units at the beginning of such fiscal quarter by (II) the average number of shares of common stock and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of (x) the average number of shares of common stock and long term incentive plan units of the Company outstanding for each day during such fiscal quarter, and (y) the average number of Convertible Non-controlling Interests outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common stock, and Convertible Non-controlling Interests (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of shares of common stock and cash, provided that at least 10% of any quarterly payment will be made in shares of common stock. Total incentive fee incurred for the year ended December 31, 2019 was $0.1 million . Termination Fees The Management Agreement requires the Company to pay a termination fee to the Manager in the event of (1) the Company's termination or non-renewal of the Management Agreement without cause or (2) the Company's termination of the Management Agreement based on unsatisfactory performance by the Manager that is materially detrimental to the Company or (3) the Manager's termination of the Management Agreement upon a default by the Company in the performance of any material term of the Management Agreement. Such termination fee will be equal to the amount of three times the sum of (i) the average annual quarterly base management fee amounts paid or payable with respect to the two 12 -month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal and (ii) the average annual quarterly incentive fee amounts paid or payable with respect to the two 12 -month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal. Expense Reimbursement Under the terms of the Management Agreement the Company is required to reimburse the Manager for operating expenses related to the Company that are incurred by the Manager, including expenses relating to legal, accounting, due diligence, other services, and all other costs and expenses. The Company's reimbursement obligation is not subject to any dollar limitation. Expenses will be reimbursed in cash within 60 days following delivery of the expense statement by the Manager; provided, however, that such reimbursement may be offset by the Manager against amounts due to the Company from the Manager. The Company will not reimburse the Manager for the salaries and other compensation of the Manager's personnel except that the Company will be responsible for expenses incurred by the Manager in employing certain dedicated or partially dedicated personnel as further described below. The Company reimburses the Manager for the allocable share of the compensation, including, without limitation, wages, salaries, and employee benefits paid or reimbursed, as approved by the Compensation Committee of the Board of Directors to certain dedicated or partially dedicated personnel who spend all or a portion of their time managing the Company's affairs, based upon the percentage of time devoted by such personnel to the Company's affairs. In their capacities as officers or personnel of the Manager or its affiliates, such personnel will devote such portion of their time to the Company's affairs as is necessary to enable the Company to operate its business. For the year ended December 31, 2019 , the Company reimbursed the Manager $10.9 million for previously incurred operating expenses. As of December 31, 2019 , the outstanding payable to the Manager for operating expenses was $2.0 million , which are included in Accrued expenses and other liabilities on the Consolidated Balance Sheet. Transactions Involving Certain Loan Originators As of December 31, 2019 , the loan originators in which the Company holds equity investments represent related parties. Transactions that have been entered into with these related party mortgage originators are summarized below. The Company is a party to a mortgage loan purchase and sale flow agreement, with a mortgage originator in which the Company holds an investment in common stock, whereby the Company purchases residential mortgage loans that satisfy certain specified criteria. The Company has also provided a $5.0 million line of credit to the mortgage originator. Under the terms of this line of credit, the Company has agreed to make advances to the mortgage originator solely for the purpose of funding specifically identified residential mortgage loans designated for sale to the Company. To the extent the advances are drawn by the mortgage originator, it must pay interest, at a rate of 15% per annum, on the outstanding balance of each advance from the date the advance is made until such advance is repaid in full. The mortgage originator is required to repay advances in full no later than two business days following the date that the Company purchases the related residential mortgage loans from the mortgage originator. As of December 31, 2019 , there were no advances outstanding. The Company has also entered into two agreements whereby it guarantees the performance of such mortgage originator under third-party master repurchase agreements. See Note 21, Commitments and Contingencies, for further information on the Company's guarantees of the third-party borrowing arrangements. The Company, through a related party of Ellington, or the "Loan Purchaser," is a party to a consumer loan purchase and sale flow agreement with a consumer loan originator in which the Company holds an investment in preferred stock and warrants to purchase additional preferred stock, whereby the Loan Purchaser purchases consumer loans that satisfy certain specified criteria. The Company has investments in participation certificates related to consumer loans titled in the name of the Loan Purchaser. Through its participation certificates, the Company has beneficial interests in the loan cash flows, net of servicing-related fees and expenses. The total fair value of the Company's participation certificates was $47.9 million as of December 31, 2019 . In May 2019 the Company entered into a note purchase agreement whereby it agreed to lend up to $5.0 million to a mortgage originator ("the Initial Note") in which the Company also holds an equity investment. The Initial Note carries an interest rate of 15% per annum on the outstanding balance. In July and December 2019, the Company amended the note purchase agreement whereby it agreed to lend an additional $5.0 million and $2.5 million , respectively, (the "Additional Notes") to the mortgage originator. The Additional Notes each carry an interest rate of 18% per annum. As of December 31, 2019 , the aggregate outstanding balance on the Initial Note and the Additional Note was $12.5 million . The Initial Note and the Additional Notes are classified as Corporate loans and included in Loans, at fair value on the Consolidated Balance Sheet. Consumer, Residential, and Commercial Loan Transactions with Affiliates The Company purchases certain of its consumer loans through an affiliate, or the "Purchasing Entity." The Purchasing Entity has entered into purchase agreements, open-ended in duration, with third party consumer loan originators whereby it has agreed to purchase eligible consumer loans. The amount of loans purchased under these purchase agreements is dependent on, among other factors, the amount of loans originated in any given period by the selling originators. The Company and other affiliates of Ellington have entered into agreements with the Purchasing Entity whereby the Company and each of the affiliates of Ellington have agreed to purchase their allocated portion (subject to monthly determination based on available capital and other factors) of the eligible loans acquired by the Purchasing Entity under each purchase agreement. Immediately after the Purchasing Entity purchases beneficial interests in the loans, the Company and other affiliates of Ellington purchase such beneficial interests from the Purchasing Entity, at the same price paid by the Purchasing Entity. During the year ended December 31, 2019 , the Company purchased loans under these agreements with an aggregate principal balance of $134.4 million . As of December 31, 2019 , the estimated remaining contingent purchase obligations of the Company under these purchase agreements was approximately $287.1 million in principal balance. The Company's beneficial interests in the consumer loans purchased through the Purchasing Entity are evidenced by participation certificates issued by trusts that hold legal title to the loans. These trusts are owned by a related party of Ellington and were established to hold such loans. Through its participation certificates, the Company participates in the cash flows of the underlying loans held by each trust. The total amount of consumer loans underlying the Company's participation certificates and held in the related party trusts was $185.4 million as of December 31, 2019 . The Company has beneficial interests in residential mortgage loans and REO held in a trust owned by a related party of Ellington. Through these beneficial interests, the Company participates in the cash flows of the underlying loans held by such trust. The total amount of residential mortgage loans and REO underlying the Company's beneficial interests and held in the related party trust was $304.8 million as of December 31, 2019 . The Company is a co-investor in certain small balance commercial mortgage loans with several other investors, including an unrelated third party and various affiliates of Ellington. These loans are beneficially owned by a consolidated subsidiary of the Company. As of December 31, 2019 , the aggregate fair value of the small balance commercial loans was $29.5 million . The non-controlling interests held by the unrelated third party and the Ellington affiliates were $3.6 million and $7.0 million , respectively. As of December 31, 2019, the Company had a payable to an Ellington affiliate in the amount of $0.7 million , which is included in Accrued expenses and other liabilities on the Consolidated Balance Sheet. The Company is also a co-investor in certain small balance commercial mortgage loans with other investors, including various unrelated third parties and various affiliates of Ellington. Each co-investor in a particular loan has an interest in the limited liability company that owns such loan. As of December 31, 2019 , the aggregate fair value of the Company's investments in the jointly owned limited liability companies was approximately $17.3 million . Such investments are included in Investments in unconsolidated entities, on the Consolidated Balance Sheet. The consumer, residential mortgage, and certain commercial mortgage loans that are the subject of the foregoing loan transactions are held in trusts, each of which the Company has determined to be a VIE. The Company has evaluated each of these VIEs and determined that the Company has the power to direct the activities of each VIE that most significantly impact such VIE's economic performance and the Company has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result the Company has determined it is the primary beneficiary of each of these VIEs and has consolidated each VIE. Equity Investment in Unconsolidated Entity The Company was a co-investor, together with other affiliates of Ellington, in Jepson Holdings Limited, the parent of an entity (the "Right Holder Entity") that held a call right (the "Call Right") to a European mortgage loan securitization (the "Initial Securitization"). The Right Holder Entity issued notes (the "Right Holder Notes") to the Company and its affiliates, and to an unrelated third party. In March 2019, the Right Holder Entity assigned the Call Right to a newly formed entity, which exercised the Call Right and re-securitized the underlying European mortgage loan assets of the Initial Securitization through a new securitization trust (the "New Securitization"). In exchange for assigning the Call Right, the Right Holder Entity received a combination of (i) cash and (ii) certain notes issued by the New Securitization (the "New Securitization Notes"). The Right Holder Entity fully repaid the unrelated third party's Right Holder Note with a combination of cash and New Securitization Notes. The Right Holder Notes held by the Company and its affiliates were also fully repaid with cash and New Securitization Notes. Certain of the New Securitization Notes were distributed to the Company and its affiliates on a pro rata basis. The Right Holder Entity is expected to continue to hold certain of the New Securitization Notes in order to comply with European risk retention rules. As of December 31, 2019 , the Company's equity investment in Jepson Holdings Limited had a fair value of $1.9 million . See Note 6 for additional details on this equity investment. Participation in Multi-Borrower Financing Facilities The Company is a co-participant with certain other entities managed by Ellington or its affiliates (the "Affiliated Entities") in various entities (each, a "Joint Entity"), which were formed in order to facilitate the financing of small balance commercial mortgage loans, residential mortgage loans, and REO (collectively, the "Mortgage Loan and REO Assets"), through repurchase agreements. Each Joint Entity has a master repurchase agreement with a particular financing counterparty. In connection with the financing of the Mortgage Loan and REO Assets under repurchase agreements, each of the Company and the Affiliated Entities transferred certain of their respective Mortgage Loan and REO Assets to one of the Joint Entities in exchange for its pro rata share of the financing proceeds that the respective Joint Entity received from the financing counterparty. While the Company's Mortgage Loan and REO Assets were transferred to the Joint Entity, the Company's Mortgage Loan and REO Assets and the related debt were not derecognized for financial reporting purposes, in accordance with ASC 860-10, because the Company continued to retain the risks and rewards of ownership of its Mortgage Loan and REO Assets. As of December 31, 2019 , the Joint Entities had aggregate outstanding issued debt under the repurchase agreements in the amount of $350.6 million . The Company's segregated portion of this debt as of December 31, 2019 , was $174.4 million , and is included under the caption Repurchase agreements on the Company's Consolidated Balance Sheet. To the extent that there is a default under the repurchase agreements, all of the assets of each respective Joint Entity, including those beneficially owned by any non-defaulting owners of such Joint Entity, could be used to satisfy the outstanding obligations under such repurchase agreement. As of December 31, 2019 , no party to any of the repurchase agreements was in default. Each of the Joint Entities has been determined to be a VIE. The Company has evaluated each of these VIEs and determined that it continued to retain the risks and rewards of ownership of its Mortgage Loan and REO Assets. Such Mortgage Loan and REO Assets and the related debt are segregated for the Company and each of the Affiliated Entities. On account of the segregation of each of the co-participant's assets and liabilities within each of the Joint Entities, as well as the retention by each co-participant of control over its specific Mortgage Loan and REO Assets within the Joint Entities, the Company has determined that it is the primary beneficiary of, and has consolidated its segregated portion of assets and liabilities within, each of the Joint Entities. See Note 9 and Note 11 for additional information. Participation in CLO Transactions As discussed in Note 10, the Company participated in a number of CLO securitization transactions, all managed by the CLO Manager. The CLO Manager is entitled to receive management and incentive fees in accordance with the respective management agreements between the CLO Manager and the respective CLO Issuers. In accordance with the Management Agreement, the Manager rebates to the Company the portion of the management fees payable by each CLO Issuer to the CLO Manager that are allocable to the Company's participating interest in the unsecured subordinated notes issued by such CLO Issuer. For the year ended December 31, 2019 , the amount of such management fee rebates was $2.0 million . In addition, from time to time, the Company along with various other affiliates of Ellington, and in certain cases various third parties, advance funds in the form of loans ("Initial Funding Loans") to securitization vehicles to enable them to establish warehouse facilities for the purpose of acquiring the assets to be securitized. Pursuant to the terms of the warehouse facilities and the Initial Funding Loans, the applicable securitization trust is required, at the closing of each respective CLO securitization, first to repay the warehouse facility, then to repay the Initial Funding Loans, and then to distribute interest earned, net of any necessary reserves and/or interest expense, and the aggregate realized or unrealized gains, if any, on assets purchased into the warehouse facility. In the event that such CLO securitization fails to close, the assets held by the respective securitization vehicle would, subject to a cure period, be liquidated. As of December 31, 2019 , the Company's investments in such warehouse facilities was $8.1 million , which are included on the Consolidated Balance Sheet in Investments in unconsolidated entities. During the year ended December 31, 2019 , the Company purchased various underperforming corporate debt and equity securities from certain of the Ellington-sponsored CLO Securitizations at market prices determined through the procedures set forth in the indentures of the respective Ellington-sponsored CLO Securitization. The total amount of such debt and equity securities purchased was $8.8 million The Company is party to a Management Agreement (which may be amended from time to time), pursuant to which the Manager manages the assets, operations, and affairs of the Company, in consideration of which the Company pays the Manager management and incentive fees. Effective March 13, 2018, the Board of Directors approved a Seventh Amended and Restated Management Agreement between the Company and the Manager. The descriptions of the Base Management Fees and Incentive Fees are detailed below. Base Management Fees The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges. Pursuant to the Company's management agreement, if the Company invests at issuance in the equity of any collateralized debt obligation that is managed, structured, or originated by Ellington or one of its affiliates, or if the Company invests in any other investment fund or other investment for which Ellington or one of its affiliates receives management, origination, or structuring fees, then, unless agreed otherwise by a majority of the Company's independent directors, the base management and incentive fees payable by the Company to its Manager will be reduced by an amount equal to the applicable portion (as described in the management agreement) of any such management, origination, or structuring fees. Summary information —For the year ended December 31, 2018 the total base management fee incurred, net of fee rebates, was $7.6 million . Incentive Fees The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of December 31, 2018, there was a Loss Carryforward of $2.1 million . For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP Units issued in such issuance and the number of days that such issued shares and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting ( i.e. attributing any share and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP Units at the beginning of such fiscal quarter by (II) the average number of common shares and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of (x) the average number of common shares and LTIP Units outstanding for each day during such fiscal quarter, and (y) the average number of OP Units and OP LTIP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares, OP LTIP Units, and OP Units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares. Summary information —Total incentive fee incurred for the year ended December 31, 2018 was $0.7 million . Termination Fees The Management Agreement requires the Company to pay a termination fee to the Manager in the event of (1) the Company's termination or non-renewal of the Management Agreement without cause or (2) the Company's termination of the Management Agreement based on unsatisfactory performance by the Manager that is materially detrimental to the Company or (3) the Manager's termination of the Management Agreement upon a default by the Company in the performance of any material term of the Management Agreement. Such termination fee will be equal to the amount of three times the sum of (i) the average annual Quarterly Base Management Fee Amounts paid or payable with respect to the two 12 -month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal and (ii) the average annual Quarterly Incentive Fee Amounts paid or payable with respect to the two 12 -month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal. Expense Reimbursement Under the terms of the Management Agreement the Company is required to reimburse the Manager for operating expenses related to the Company that are incurred by the Manager, including expenses relating to legal, accounting, due diligence, other services, and all other costs and expenses. The Company's reimbursement obligation is not subject to any dollar limitation. Expenses will be reimbursed in cash within 60 days following delivery of the expense statement by the Manager; provided, however, that such reimbursement may be offset by the Manager against amounts due to the Company from the Manager. The Company will not reimburse the Manager for the salaries and other compensation of the Manager's personnel except that the Company will be responsible for expenses incurred by the Manager in employing certain dedicated or partially dedicated personnel as further described below. The Company reimburses the Manager for the allocable share of the compensation, including, without limitation, wages, salaries, and employee benefits paid or reimbursed, as approved by the Compensation Committee of the Board of Directors to certain dedicated or partially dedicated personnel who spend all or a portion of their time managing the Company's affairs, based upon the percentage of time devoted by such personnel to the Company's affairs. In their capacities as officers or personnel of the Manager or its affiliates, such personnel will devote such portion of their time to the Company's affairs as is necessary to enable the Company to operate its business. For the year ended December 31, 2018 the Company reimbursed the Manager $6.5 million for previously incurred operating and compensation expenses. Equity Investments in Certain Mortgage Originators As of December 31, 2018, the mortgage originators in which the Company holds equity investments represent related parties. Transactions that have been entered into with these related party mortgage originators are summarized below. The Company is a party to a mortgage loan purchase and sale flow agreement, with a mortgage originator in which the Company holds an investment in common stock, whereby the Company purchases residential mortgage loans that satisfy certain specified criteria. The Company has also provided a $5.0 million line of credit to the mortgage originator. Under the terms of this line of credit, the Company has agreed to make advances to the mortgage originator solely for the purpose of funding specifically identified residential mortgage loans designated for sale to the Company. To the extent the advances are drawn by the mortgage originator, it must pay interest, at a rate of 15% per annum, on the outstanding balance of each advance from the date the advance is made until such advance is repaid in full. The mortgage originator is required to repay advances in full no later than two business days following the date the Company purchases the related residential mortgage loans from the mortgage originator. As of December 31, 2018, there were no advances outstanding. The Company has also entered into two agreements whereby it guarantees the performance of such mortgage originator under third-party borrowing arrangements. See Note 17,

Long-Term Incentive Plan Units

Long-Term Incentive Plan Units	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Long-Term Incentive Plan Units	Long-Term Incentive Plan Units OP LTIP Units subject to the Company's incentive plans are generally exercisable by the holder at any time after vesting. Each OP LTIP Unit is convertible into an OP Unit on a one-for-one basis. Subject to certain conditions, the OP Units are redeemable by the holder for an equivalent number of shares of common stock of the Company or for the cash value of such shares of common stock, at the Company's election. Costs associated with the OP LTIP Units issued under the Company's incentive plans are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with OP LTIP Units issued under the Company's incentive plans for the year ended December 31, 2019 was $0.5 million . On September 11, 2019, the Company's Board of Directors authorized the issuance of 14,552 OP LTIP Units to certain of its directors pursuant to the Company's 2017 Equity Incentive Plan. On September 12, 2019, certain of the Company's independent directors converted 3,610 OP LTIP Units into shares of common stock. On November 14, 2019 and November 29, 2019, certain current and former Ellington employees converted 7,608 and 1,874 OP LTIP Units, respectively, into shares of common stock. On December 13, 2019, the Company's Board of Directors authorized the issuance of 22,885 OP LTIP Units to certain of its partially dedicated employees pursuant to the Company's 2017 Equity Incentive Plan. The below table details unvested OP LTIP Units as of December 31, 2019 : Grant Recipient Number of OP LTIP Units Granted Grant Date Vesting Date (1) Directors: 14,552 September 11, 2019 September 10, 2020 Partially dedicated employees: 12,818 December 13, 2019 December 13, 2020 10,067 December 13, 2019 December 13, 2021 8,691 December 11, 2018 December 11, 2020 Total unvested OP LTIP Units at December 31, 2019 46,128 (1) Date at which such OP LTIP Units will vest and become non-forfeitable. The following table summarizes issuance and exercise activity of OP LTIP Units for the year ended December 31, 2019 : Year Ended December 31, 2019 Manager Director/ Employee Total OP LTIP Units Outstanding (January 1, 2019) 375,000 146,371 521,371 Granted — 37,437 37,437 Exercised (9,482 ) (3,610 ) (13,092 ) OP LTIP Units Outstanding (December 31, 2019) 365,518 180,198 545,716 OP LTIP Units Unvested and Outstanding (December 31, 2019) — 46,128 46,128 OP LTIP Units Vested and Outstanding (December 31, 2019) 365,518 134,070 499,588 As of December 31, 2019 , there were an aggregate of 1,832,309 shares of common stock of the Company underlying awards, including OP LTIP Units, available for future issuance under the Company's 2017 Equity Incentive Plan. LTIP Units and OP LTIP Units held pursuant to the Company's incentive plans are generally exercisable by the holder at any time after vesting. Each LTIP Unit is convertible into one common share. Each OP LTIP Unit is convertible into an OP Unit on a one-for-one basis. Subject to certain conditions, the OP Units are redeemable by the holder for an equivalent number of common shares of the Company or for the cash value of such common shares, at the Company's election. Costs associated with the LTIP Units and the OP LTIP Units issued under the Company's incentive plans are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with LTIP Units and OP LTIP Units issued under the Company's incentive plans for the year ended December 31, 2018 was $0.4 million . On March 7, 2018, the Company's Board of Directors authorized the issuance of 1,723 LTIP Units to certain of its partially dedicated employees pursuant to the Company's 2017 Equity Incentive Plan. These LTIP Units will vest and become non-forfeitable on March 7, 2019. On September 12, 2018, the Company's Board of Directors authorized the issuance of 14,440 LTIP Units to certain of its directors pursuant to the Company's 2017 Equity Incentive Plan. These LTIP Units will vest and become non-forfeitable on September 11, 2019. On December 11, 2018, the Company's Board of Directors authorized the issuance of 17,383 OP LTIP Units to certain of its partially dedicated employees pursuant to the Company's 2017 Equity Incentive Plan. These OP LTIP Units will vest and become non-forfeitable on December 11, 2019 with respect to 8,692 OP LTIP Units and December 11, 2020 with respect to 8,691 OP LTIP Units. On December 31, 2018, the Company redeemed all 503,988 outstanding LTIP Units which it had originally issued under its incentive plans, with each LTIP unitholder receiving in exchange an equal number of OP LTIP Units (the "Redemption Transaction"). The below table details unvested OP LTIP Units as of December 31, 2018: Grant Recipient Number of OP LTIP Units Grant Date Vesting Date (1) Directors: 14,440 September 12, 2018 September 11, 2019 Partially dedicated employees: 8,692 December 11, 2018 December 11, 2019 8,691 December 11, 2018 December 11, 2020 1,723 March 7, 2018 March 7, 2019 5,886 December 12, 2017 December 12, 2019 Total unvested OP LTIP Units at December 31, 2018 39,432 (1) Date at which such OP LTIP Units will vest and become non-forfeitable. The following table summarizes issuance and exercise activity of LTIP Units and OP LTIP Units for the year ended December 31, 2018: Year Ended December 31, 2018 Manager Director/ Employee Total LTIP Units and OP LTIP Units Outstanding (December 31, 2017) 375,000 116,159 491,159 Granted — 33,546 33,546 Exercised — (3,334 ) (3,334 ) LTIP Units and OP LTIP Units Outstanding (December 31, 2018) 375,000 146,371 521,371 LTIP Units and OP LTIP Units Vested and Outstanding (December 31, 2018) 375,000 106,939 481,939 As of December 31, 2018, there were an aggregate of 1,874,223 common shares underlying awards, including OP LTIP Units, available for future issuance under the Company's 2017 Equity Incentive Plan.

Non-controlling Interests

Non-controlling Interests	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests Operating Partnership Non-controlling interests include the Convertible Non-controlling Interests in the Operating Partnership owned by an affiliate of our Manager, our directors, and certain current and former Ellington employees and their related parties. On December 31, 2018, the Company redeemed 503,988 outstanding long term incentive plan units of the Company and exchanged them on a one-for-one basis for OP LTIP Units. Income allocated to Convertible Non-controlling Interests is based on the non-controlling interest owners' ownership percentage of the Operating Partnership during the period, calculated using a daily weighted average of all shares of common stock of the Company and Convertible Non-controlling Interests outstanding during the period. Holders of Convertible Non-controlling Interests are entitled to receive the same distributions that holders of shares of common stock of the Company receive. Convertible Non-controlling Interests are non-voting with respect to matters as to which holders of common stock of the Company are entitled to vote. On November 14, 2019 and November 29, 2019, certain current and former Ellington employees converted 29,762 and 4,313 OP Units, respectively, into shares of common stock. As December 31, 2019 , the Convertible Non-controlling Interests consisted of the outstanding 545,716 OP LTIP Units and 177,925 OP Units, and represented an interest of approximately 1.6% in the Operating Partnership. As of December 31, 2019 , non-controlling interests related to all outstanding Convertible Non-controlling Interests was $13.4 million . Joint Venture Interests Non-controlling interests also include the interests of joint venture partners in various consolidated subsidiaries of the Company. These subsidiaries hold the Company's investments in certain commercial mortgage loans and REO. The joint venture partners participate in the income, expense, gains and losses of such subsidiaries as set forth in the related operating agreements of the subsidiaries. The joint venture partners make capital contributions to the subsidiaries as new approved investments are purchased by the subsidiaries, and are generally entitled to distributions when investments are sold or otherwise disposed of. As of December 31, 2019 , the joint venture partners' interests in subsidiaries of the Company were $25.9 million . The joint venture partners' interests are not convertible into shares of common stock of the Company or OP Units, nor are the joint venture partners entitled to receive distributions that holders of shares of common stock of the Company receive. Operating Partnership Non-controlling interests include the Convertible Non-controlling Interests in the Operating Partnership owned by an affiliate of our Manager, our directors, and certain current and former Ellington employees and their related parties. These interests consist of OP Units and OP LTIP Units. On January 1, 2013, 212,000 OP Units were purchased by the initial non-controlling interest member. On December 11, 2018, the Company issued 17,383 OP LTIP Units to certain officers of the Company. On December 31, 2018, the Company redeemed 503,988 LTIP Units and distributed 503,988 OP LTIP Units to non-controlling interest members pursuant to the Redemption Transaction. Income allocated to these non-controlling interests is based on the non-controlling interest owners' ownership percentage of the Operating Partnership during the quarter, calculated using a daily weighted average of all common shares and convertible units outstanding during the quarter. Holders of OP Units and OP LTIP Units are entitled to receive the same distributions that holders of common shares receive, and OP Units are convertible into common shares on a one-for-one basis, subject to specified limitations. Each OP LTIP Unit is convertible into an OP Unit on a one-for-one basis. OP Units and OP LTIP Units are non-voting with respect to matters as to which common shareholders are entitled to vote. As December 31, 2018, the Convertible Non-controlling Interests consisted of the outstanding 521,371 OP LTIP Units and 212,000 OP Units, and represented an interest of approximately 2.4% in the Operating Partnership. As of December 31, 2018 non-controlling interests related to the outstanding 521,371 OP LTIP Units and the outstanding 212,000 OP Units was $13.9 million . Joint Venture Interests Non-controlling interests also include the interests of joint venture partners in various consolidated subsidiaries of the Company. The subsidiaries hold the Company's investments in certain commercial mortgage loans and REO. These joint venture partners participate in the income, expense, gains and losses of such subsidiaries as set forth in the related operating agreements of the subsidiaries. These joint venture partners make capital contributions to the subsidiaries as new approved investments are purchased by the subsidiaries, and are generally entitled to distributions when investments are sold or otherwise disposed of. As of December 31, 2018 these joint venture partners' interests in subsidiaries of the Company were $17.3 million . These joint venture partners' interests are not convertible into common shares of the Company or OP Units, nor are these joint venture partners entitled to receive distributions that holders of common shares of the Company receive.

Equity

Equity	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Common Stock Capitalization	Preferred Stock The Company has authorized 100,000,000 shares of preferred stock, $0.001 par value per share. As of December 31, 2019 , there were 4,600,000 shares of preferred stock outstanding. On October 22, 2019, the Company issued 4,600,000 shares of 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.001 par value per share ("Series A Preferred Stock"), of which 600,000 shares were issued pursuant to the exercise of the underwriters' over-allotment option. The issuance and sale of the 4,600,000 shares of Series A Preferred Stock resulted in total net proceeds to the Company of approximately $111.0 million , after underwriters' discount and offering costs. The Company's Series A Preferred Stock ranks senior to its common stock and Convertible Non-controlling Interests with respect to the payment of dividends and the distribution of assets upon a voluntary or involuntary liquidation, dissolution or winding up of the Company. Additionally, the Company's Series A Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption. The Series A Preferred Stock is not redeemable by the Company prior to October 30, 2024, except under circumstances where it is necessary to allow the Company to qualify and maintain its qualification as a REIT for U.S. federal income tax purposes and except in certain instances upon the occurrence of a change of control. Holders of the Company's Series A Preferred Stock generally do not have any voting rights. Holders of the Series A Preferred Stock are entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, October 30, 2024, at a fixed rate equal to 6.750% per annum of the $25.00 per share liquidation preference and (ii) from and including October 30, 2024, at a floating rate equal to three-month LIBOR plus a spread of 5.196% per annum of the $25.00 per share liquidation preference. Dividends are payable quarterly in arrears on or about the 30th day of each January, April, July, and October, commencing with the first dividend payment on January 30, 2020, which the Board of Directors declared in December 2019. As of December 31, 2019, the total amount of cumulative preferred dividends in arrears was $1.5 million . Common Stock The Company has authorized 100,000,000 shares of common stock, $0.001 par value per share. The Board of Directors may authorize the issuance of additional shares, subject to the approval of the holders of at least a majority of the shares of common stock then outstanding present in person or represented by proxy at a meeting of the stockholders. As of December 31, 2019 , there were 38,647,943 shares of common stock outstanding. On July 22, 2019, the Company completed a follow-on offering of 3,500,000 shares of its common stock, which generated net proceeds, after underwriters' discount and offering costs, of $60.7 million . On July 25, 2019, the Company issued an additional 525,000 shares of its common stock in connection with the exercise of the underwriters' option granted in the initial offering. The exercise of the underwriters' option resulted in net proceeds to the Company of an additional $9.1 million , after underwriters' discount and offering costs. On September 12, 2019, certain of the Company's independent directors converted 3,610 OP LTIP Units into shares of common stock. On November 14, 2019, certain current and former Ellington employees converted 29,762 OP Units and 7,608 OP LTIP Units into shares of common stock. On November 29, 2019, certain current and former Ellington employees converted 4,313 OP Units and 1,874 OP LTIP Units into shares of common stock. On November 21, 2019, the Company completed a follow-on offering of 4,200,000 shares of its common stock, which generated net proceeds, after underwriters' discount and offering costs, of $75.3 million . On December 3, 2019, the Company issued an additional 630,000 shares of its common stock in connection with the exercise of the underwriters' option granted in the initial offering. The exercise of the underwriters' option resulted in net proceeds to the Company of an additional $11.2 million , after underwriters' discount and offering costs. The following table summarizes issuance, repurchase, and other activity with respect to the Company's common stock for the year ended December 31, 2019 : Year Ended Shares of Common Stock Outstanding (January 1, 2019) 29,796,601 Share Activity: Shares of common stock issued 8,855,000 Shares of common stock repurchased (50,825 ) OP LTIP Units exercised 13,092 OP Units exercised 34,075 Shares of Common Stock Outstanding (December 31, 2019) 38,647,943 If all Convertible Non-controlling Interests that have been previously issued were to become fully vested and exchanged for shares of common stock as of December 31, 2019 , the Company's issued and outstanding shares of common stock would increase to 39,371,584 shares. On June 13, 2018, the Board of Directors approved the adoption of a share repurchase program under which the Company is authorized to repurchase up to 1.55 million shares of common stock. The program, which is open-ended in duration, allows the Company to make repurchases from time to time on the open market or in negotiated transactions, including under Rule 10b5-1 plans. Repurchases are at the Company's discretion, subject to applicable law, share availability, price and financial performance, among other considerations. During the year ended December 31, 2019 , the Company repurchased 50,825 shares at an average price per share of $15.39 and a total cost of $0.8 million . From inception of the current repurchase plan through December 31, 2019 , the Company repurchased 411,915 shares at an average price per share of $15.34 and a total cost of $6.3 million . During the year ended December 31, 2018 the Board of Directors authorized dividends totaling $1.64 per share. Total dividends paid during the year ended December 31, 2018 were $50.7 million , respectively. The following table summarizes issuance, repurchase, and other activity with respect to the Company's common shares for the year ended December 31, 2018: Year Ended Common Shares Outstanding (December 31, 2017) 31,335,938 Share Activity: Shares repurchased (1,547,148 ) Director LTIP Units exercised 3,334 Shares issued in connection with incentive fee payment 4,477 Common Shares Outstanding (December 31, 2018) 29,796,601 If all LTIP Units, OP LTIP Units, and OP Units that have been previously issued were to become fully vested and exchanged for common shares as of December 31, 2018 the Company's issued and outstanding common shares would increase to 30,529,972 . On June 13, 2018, the Company's Board of Directors approved the adoption of a share repurchase program under which the Company is authorized to repurchase up to 1.55 million common shares. The program, which is open-ended in duration, allows the Company to make repurchases from time to time on the open market or in negotiated transactions, including under Rule 10b5-1 plans. Repurchases are at the Company's discretion, subject to applicable law, share availability, price and its financial performance, among other considerations. This program superseded the program that was previously adopted on February 6, 2018. During the year ended December 31, 2018, the Company repurchased 1,547,148 common shares at an average price per share of $14.95 and a total cost of $23.1 million . As of December 31, 2018, the Company had repurchased 361,090 common shares at an average price per share of $15.34 and a total cost of $5.5 million under the current share repurchase program.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The components of the computation of basic and diluted EPS are as follows: Year Ended (In thousands except share amounts) Net income (loss) attributable to common stockholders $ 56,467 Add: Net income (loss) attributable to Convertible Non-controlling Interests (1) 1,305 Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests 57,772 Dividends Paid: Common stockholders (58,499 ) Convertible Non-controlling Interests (1,325 ) Total dividends paid to common stockholders and Convertible Non-controlling Interests (59,824 ) Undistributed (Distributed in excess of) earnings: Common stockholders (2,032 ) Convertible Non-controlling Interests (20 ) Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests $ (2,052 ) Weighted average shares outstanding (basic and diluted): Weighted average shares of common stock outstanding 32,067,768 Weighted average Convertible Non-controlling Interest Units outstanding 732,456 Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding 32,800,224 Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: Distributed $ 1.81 Undistributed (Distributed in excess of) (0.05 ) $ 1.76 Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: Distributed $ 1.81 Undistributed (Distributed in excess of) (0.05 ) $ 1.76 (1) For the year ended December 31, 2019 , excludes net income (loss) of $3.9 million attributable to joint venture partners, which have non-participating interests as described in Note 15. The components of the computation of basic and diluted EPS were as follows: Year Ended December 31, 2018 (In thousands except share amounts) Net increase (decrease) in shareholders' equity resulting from operations $ 46,676 Add: Net increase (decrease) in equity resulting from operations attributable to participating non-controlling interests (1) 319 Net increase (decrease) in equity resulting from operations related to common shares, LTIP Unit holders, and participating non-controlling interests 46,995 Net increase (decrease) in shareholders' equity resulting from operations available to common share and LTIP Unit holders: Net increase (decrease) in shareholders' equity resulting from operations–common shares 45,922 Net increase (decrease) in shareholders' equity resulting from operations–LTIP Units 753 Dividends Paid: Common shareholders (49,576 ) LTIP Unit holders (812 ) Non-controlling interests (348 ) Total dividends paid to common shareholders, LTIP Unit holders, and non-controlling interests (50,736 ) Undistributed (Distributed in excess of) earnings: Common shareholders (3,653 ) LTIP Unit holders (59 ) Non-controlling interests (29 ) Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP Unit holders, and non-controlling interests $ (3,741 ) Weighted average shares outstanding (basic and diluted): Weighted average common shares outstanding 30,297,401 Weighted average participating LTIP Units 496,962 Weighted average non-controlling interest units 212,000 Basic earnings per common share: Distributed $ 1.64 Undistributed (Distributed in excess of) (0.12 ) $ 1.52 Diluted earnings per common share: Distributed $ 1.64 Undistributed (Distributed in excess of) (0.12 ) $ 1.52 (1) For the year ended December 31, 2018, excludes net increase (decrease) in equity resulting from operations of $2.9 million attributable to joint venture partners, which have non-participating interests as described in Note 11.

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2019
Restricted Cash and Investments [Abstract]
Restricted Cash	Restricted Cash The Company is required to maintain a specific cash balance in a segregated account pursuant to a flow consumer loan purchase and sale agreement. As of December 31, 2019 , the Company's restricted cash balance related to the flow consumer loan purchase and sale agreement was $0.2 million . The Company is required to maintain certain cash balances with counterparties and/or unrelated third parties for various activities and transactions. The Company is required to maintain a specific cash balance in a segregated account pursuant to a flow consumer loan purchase and sale agreement. The Company is also required to maintain a specific minimum cash balance in connection with its subsidiary that holds various state mortgage origination licenses. The below table details the Company's restricted cash balances included in Restricted cash on the Consolidated Statement of Assets, Liabilities, and Equity as of December 31, 2018. December 31, 2018 (In thousands) Restricted cash balance related to: Minimum account balance required for regulatory purposes $ 250 Flow consumer loan purchase and sale agreement 175 Total $ 425

Offsetting of Assets and Liabil

Offsetting of Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Offsetting of Assets and Liabilities [Abstract]
Offsetting of Assets and Liabilities	Offsetting of Assets and Liabilities The Company generally records financial instruments at fair value as described in Note 2. All financial instruments are recorded on a gross basis on the Consolidated Balance Sheet. In connection with the vast majority of its derivative, reverse repurchase and repurchase agreements, and the related trading agreements, the Company and its counterparties are required to pledge collateral. Cash or other collateral is exchanged as required with each of the Company's counterparties in connection with open derivative positions, and reverse repurchase and repurchase agreements. The following table presents information about certain assets and liabilities representing financial instruments as of December 31, 2019 . The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's reverse repurchase and repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. December 31, 2019 : Description Amount of Assets (Liabilities) Presented in the Consolidated Balance Sheet (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 16,788 $ (12,755 ) $ — $ (807 ) $ 3,226 Reverse repurchase agreements 73,639 (73,639 ) — — — Liabilities Financial derivatives–liabilities (27,621 ) 12,755 — 12,233 (2,633 ) Repurchase agreements (2,445,300 ) 73,639 2,340,656 31,005 — (1) In the Company's Consolidated Balance Sheet, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of December 31, 2019 was $2.8 billion . As of December 31, 2019 , total cash collateral on financial derivative assets and liabilities excludes excess net cash collateral pledged of $4.3 million and $23.4 million , respectively. (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a particular asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows. The Company records financial instruments at fair value as described in Note 2. All financial instruments are recorded on a gross basis on the Consolidated Statement of Assets, Liabilities, and Equity. In connection with the vast majority of its derivative, repurchase and reverse repurchase agreements, and the related trading agreements, the Company and its counterparties are required to pledge collateral. Cash or other collateral is exchanged as required with each of the Company's counterparties in connection with open derivative positions, and repurchase and reverse repurchase agreements. The following tables present information about certain assets and liabilities representing financial instruments as of December 31, 2018. The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's repurchase and reverse repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. December 31, 2018: Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 20,001 $ (10,910 ) $ — $ (2,514 ) $ 6,577 Repurchase agreements 61,274 (61,274 ) — — — Liabilities Financial derivatives–liabilities (20,806 ) 10,910 — 9,896 — Reverse repurchase agreements (1,498,849 ) 61,274 1,420,601 16,974 — (1) In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of December 31, 2018 were $1.79 billion . As of December 31, 2018 total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $0.1 million . As of December 31, 2018 total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $16.4 million . (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Counterparty Risk

Counterparty Risk	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Counterparty Risk	Counterparty Risk The Company is exposed to concentrations of counterparty risk. It seeks to mitigate such risk by diversifying its exposure among various counterparties, when appropriate. The following table summarizes the Company's exposure to counterparty risk as of December 31, 2019 . Amount of Exposure Number of Counterparties with Exposure Maximum Percentage of Exposure to a Single Counterparty (1) (In thousands) Cash and cash equivalents $ 72,302 11 42.2 % Collateral on repurchase agreements held by dealers (2) 2,793,696 28 13.8 % Due from brokers 79,829 24 30.9 % Receivable for securities sold (3) 69,995 5 62.3 % (1) Each counterparty is a large creditworthy financial institution. (2) Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements. (3) Included in Investment related receivables on the Consolidated Balance Sheet. As of December 31, 2018, investments with an aggregate value of approximately $1.79 billion were held with dealers as collateral for various reverse repurchase agreements. The investments held as collateral include securities in the amount of $86.7 million that were sold prior to period end but for which such sale had not yet settled as of December 31, 2018. The following table details the percentage of such collateral held by counterparties who hold greater than 15% of the aggregate $1.79 billion in collateral for various reverse repurchase agreements as of December 31, 2018. In addition to the below, unencumbered investments, on a settlement date basis, of approximately $13.3 million were held in custody at the Bank of New York Mellon Corporation as of December 31, 2018. Dealer % of Total Collateral on Reverse Repurchase Agreements Royal Bank of Canada 19% The following table details the percentage of collateral amounts held by dealers who hold greater than 15% of the Company's Due from Brokers, included as of December 31, 2018: Dealer % of Total Due from Brokers Morgan Stanley 37% J.P. Morgan Securities LLC 30% The following table details the percentage of amounts held by dealers who hold greater than 15% of the Company's Receivable for securities sold as of December 31, 2018: Dealer % of Total Receivable for Securities Sold J.P. Morgan Securities LLC 25% Bank of America Securities 26% CS First Boston Limited 34% In addition, the Company held cash and cash equivalents of $44.7 million as of December 31, 2018. The below table details the concentration of cash and cash equivalents held by each counterparty: Counterparty As of December 31, 2018 Bank of New York Mellon Corporation 64% Deutsche Bank Securities 5% Bank of America Securities 2% Morgan Stanley Institutional Liquidity Fund—Government Portfolio 10% BlackRock Liquidity Funds FedFund Portfolio 9% Goldman Sachs Financial Square Funds—Government Fund 9% Lakeland Bank Inc. 1%

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Commitments and Contingencies The Company provides current directors and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Company. In the normal course of business the Company may also enter into contracts that contain a variety of representations, warranties, and general indemnifications. The Company's maximum exposure under these arrangements, including future claims that may be made against the Company that have not yet occurred, is unknown. The Company has not incurred any costs to defend lawsuits or settle claims related to these indemnification agreements. As of December 31, 2019 the Company has no liabilities recorded for these agreements. The Company's maximum risk of loss from credit events on its securities (excluding Agency securities, which are guaranteed by the issuing government agency or government-sponsored enterprise), loans, and investments in unconsolidated entities is limited to the amount paid for such investment. Commitments and Contingencies Related to Investments in Residential Mortgage Loans In connection with certain of the Company's investments in residential mortgage loans, the Company has unfunded commitments in the amount of $5.2 million as of December 31, 2019 . Commitments and Contingencies Related to Investments in Mortgage Loan Originators In connection with certain of its investments in mortgage loan originators, the Company has outstanding commitments and contingencies as described below. As described in Note 13, the Company is party to a flow mortgage loan purchase and sale agreement with a mortgage loan originator. The Company has entered into two agreements whereby it guarantees the performance of this mortgage loan originator under master repurchase agreements. The Company's maximum guarantees are capped at $25.0 million . As of December 31, 2019 the mortgage loan originator had $0.4 million of outstanding borrowings under the agreements guaranteed by the Company. The Company's obligations under these arrangements are deemed to be guarantees under ASC 460-10. The Company has elected the FVO for its guarantees, which are included in Accrued expenses and other liabilities on the Consolidated Balance Sheet. As of December 31, 2019 , the estimated fair value of such guarantees was insignificant. Commitments and Contingencies Related to Corporate Loans The Company has investments in certain corporate loans whereby the borrowers can request additional funds under the respective agreements. As of December 31, 2019 the Company had unfunded commitments related to such investments in the amount of $1.9 million . The Company provides current directors and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Company. In the normal course of business the Company may also enter into contracts that contain a variety of representations, warranties, and general indemnifications. The Company's maximum exposure under these arrangements, including future claims that may be made against the Company that have not yet occurred, is unknown. The Company has not incurred any costs to defend lawsuits or settle claims related to these indemnification agreements. As of December 31, 2018, the Company has no liabilities recorded for these agreements. Commitments and Contingencies Related to Investments in Residential Mortgage Loans In connection with certain of the Company's investments in residential mortgage loans, the Company has unfunded commitments in the amount of $1.0 million as of December 31, 2018. Commitments and Contingencies Related to Investments in Mortgage Originators In connection with certain of its investments in mortgage originators, the Company has outstanding commitments and contingencies as described below. As described in Note 9, Related Party Transactions, the Company is party to a flow mortgage loan purchase and sale agreement with a mortgage originator. The Company has entered into two agreements whereby it guarantees the performance of this mortgage originator under master repurchase agreements. The Company's maximum guarantees are capped at $25.0 million . As of December 31, 2018 the mortgage originator had $2.9 million outstanding borrowings under these agreements guaranteed by the Company. The Company's obligation under these arrangements are deemed to be guarantees under ASC 460-10 and are carried at fair value and included in Other Liabilities on the Consolidated Statement of Assets, Liabilities, and Equity. As of December 31, 2018 the estimated fair value of such guarantees was zero

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2019
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Financial Highlights Results of Operations for a Share Outstanding Throughout the Periods: Year Ended December 31, 2018 Beginning Shareholders' Equity Per Share (December 31, 2017) $ 19.15 Net Investment Income 1.42 Net Realized/Unrealized Gains (Losses) 0.23 Results of Operations Attributable to Equity 1.65 Less: Results of Operations Attributable to Non-controlling Interests (0.11 ) Results of Operations Attributable to Shareholders' Equity (1) 1.54 Dividends Paid to Common Shareholders (1.64 ) Weighted Average Share Impact on Dividends Paid (2) (0.03 ) Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest (0.10 ) Ending Shareholders' Equity Per Share (December 31, 2018) (3) $ 18.92 Shares Outstanding, end of period 29,796,601 (1) Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 13). (2) Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders. (3) If all LTIP Units and OP Units previously issued were vested and exchanged for common shares as of December 31, 2018 shareholders' equity per share would be $18.92 . Total Return: The Company calculates its total return two ways, one based on its reported net asset value and the other based on its publicly traded share price. The following table illustrates the Company's total return for the periods presented based on net asset value: Net Asset Value Based Total Return for a Shareholder: (1) Year Ended December 31, 2018 (2) Total Return 7.38% (1) Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period. (2) The Company redeemed all 503,988 of its outstanding LTIP Units which it had originally issued under its incentive plans, with each LTIP unitholder receiving in exchange an equal number of OP LTIP Units. While this activity did not affect fully diluted net asset value per common share, it did cause a 1.66% decline in net asset value per common share. The Company's total return for the year ended December 31, 2018 before the effect of this activity was 9.19%. Market Based Total Return for a Shareholder: For the year ended December 31, 2018 the Company's market based total return based on the closing price as reported by the New York Stock Exchange was 17.30% . Calculation of market based total return assumes the reinvestment of dividends at the closing price as reported by the New York Stock Exchange as of the ex-date. Net Investment Income Ratio to Average Equity: (1) Year Ended December 31, 2018 Net Investment Income 7.04% (1) Average equity is calculated using month end values. Expense Ratios to Average Equity: (1) Year Ended December 31, 2018 Operating expenses, before interest expense and other investment related expenses (2.86)% Incentive fee (0.12)% Interest expense and other investment related expenses (12.03)% Total Expenses (15.01)% (1) Average equity is calculated using month end values.

Condensed Quarterly Financial D

Condensed Quarterly Financial Data (Unaudited) (Notes)	12 Months Ended
	Dec. 31, 2019
Condensed Quarterly Financial Data (Unaudited) [Abstract]
Quarterly Financial Information [Text Block]	Condensed Quarterly Financial Data (Unaudited) Detailed below is unaudited quarterly financial data for the year ended December 31, 2019. Three Month Period Ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 (In thousands except per share amounts) Net Interest Income Interest income $ 36,016 $ 38,547 $ 39,985 $ 45,353 Interest expense (17,618 ) (19,702 ) (19,954 ) (21,205 ) Total net interest income 18,398 18,845 20,031 24,148 Other Income (Loss) Realized gains (losses) on securities and loans, financial derivatives, and real estate owned, net (16,950 ) (12,327 ) (4,827 ) (7,266 ) Unrealized gains (losses) on securities and loans, financial derivatives, and real estate owned, net 20,452 13,300 7,970 6,139 Other, net 2,002 1,808 539 1,001 Total other income (loss) 5,504 2,781 3,682 (126 ) Expenses Base management fee to affiliate (Net of fee rebates of $447, $508, $503, and $509, respectively) (1) 1,722 1,661 1,942 2,663 Incentive fee to affiliate — — — 116 Investment related expenses: Servicing expense 2,393 2,244 1,940 2,055 Debt issuance costs related to Other secured borrowings, at fair value — 1,671 — 1,865 Other 1,083 1,238 1,347 1,941 Professional fees 1,956 1,178 698 1,021 Compensation expense 1,072 903 712 962 Other expenses 985 1,053 1,156 1,160 Total expenses 9,211 9,948 7,795 11,783 Net Income (Loss) before Income Tax Expense and Earnings from Investments in Unconsolidated Entities 14,691 11,678 15,918 12,239 Income tax expense (benefit) — 376 2 1,180 Earnings from investments in unconsolidated entities 1,797 2,354 2,796 3,262 Net Income (Loss) 16,488 13,656 18,712 14,321 Net income (loss) attributable to non-controlling interests 1,080 1,012 1,419 1,733 Dividends on preferred stock — — — 1,466 Net Income (Loss) Attributable to Common Stockholders $ 15,408 $ 12,644 $ 17,293 $ 11,122 Net Income (Loss) per Share of Common Stock: Basic and Diluted (2) $ 0.52 $ 0.43 $ 0.53 $ 0.31 (1) See Note 13 for further details on management fee rebates. (2) For the year ended December 31, 2019 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 17) as a result of changes in the number of shares of common stock outstanding during the year due to issuances of shares of common stock, as EPS is calculated using average shares of common stock outstanding during the period. Detailed below is unaudited quarterly financial data for the year ended December 31, 2018. Three Month Period Ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 (In thousands except per share amounts) INVESTMENT INCOME Interest income (1) $ 28,092 $ 31,941 $ 35,300 $ 35,694 Other income 716 1,094 1,046 1,157 Total investment income 28,808 33,035 36,346 36,851 EXPENSES Base management fee to affiliate (2) 1,978 2,021 1,830 1,744 Incentive fee to affiliate — 291 424 — Interest expense (1) 11,562 13,383 15,678 16,083 Other investment related expenses 2,952 3,771 4,384 4,201 Other operating expenses 2,074 2,578 2,352 4,609 Total expenses 18,566 22,044 24,668 26,637 NET INVESTMENT INCOME 10,242 10,991 11,678 10,214 NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions 13,051 (1,343 ) 10,102 9,578 Change in net unrealized gain (loss) on investments, other secured borrowings, financial derivatives, and foreign currency translation (1,969 ) 12,536 (14,306 ) (20,862 ) NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY 11,082 11,193 (4,204 ) (11,284 ) NET INCREASE (DECREASE) IN EQUITY RESULTING FROM OPERATIONS 21,324 22,184 7,474 (1,070 ) LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 285 991 813 1,147 NET INCREASE (DECREASE) IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS $ 21,039 $ 21,193 $ 6,661 $ (2,217 ) NET INCREASE (DECREASE) IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE: Basic and Diluted (3) $ 0.67 $ 0.69 $ 0.22 $ (0.07 ) (1) Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.9 million , respectively, for the three-month period ended March 31, 2018. Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.8 million , respectively, for the three-month period ended June 30, 2018. Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.7 million , respectively, for the three-month period ended September 30, 2018. Includes interest income and interest expense of a consolidated securitization trust of $2.1 million and $1.2 million , respectively, for the three-month period ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trusts. (2) Net of management fee rebate of $0.3 million , $0.3 million , $0.4 million , and $0.4 million , for the each of the three-month periods ended March 31, 2018, June 30, 2018, September 30, 2018, and December 31, 2018, respectively. See Note 9 for further details on management fee rebates. (3) For the year ended December 31, 2018 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 13) as a result of changes in shares during the year due to repurchases of common shares, as EPS is calculated using average shares outstanding during the period.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 8, 2020 , the Board of Directors approved a dividend in the amount of $0.15 per share of common stock payable on February 25, 2020 to stockholders of record as of January 31, 2020 . On January 24, 2020, the Company completed a follow-on offering of 5,290,000 shares of its common stock, of which 690,000 shares were issued pursuant to the exercise of the underwriters' option. The issuance and sale of 5,290,000 shares of common stock generated net proceeds, after underwriters' discount and offering costs, of $95.3 million . On February 7, 2020 , the Board of Directors approved a dividend in the amount of $0.15 per share of common stock payable on March 25, 2020 to stockholders of record as of February 28, 2020 . On March 6, 2020 , the Board of Directors approved a dividend in the amount of $0.15 per share of common stock payable on April 27, 2020 to stockholders of record as of March 31, 2020 . On February 13, 2019, the Company announced that it will elect to be taxed as a REIT for U.S. federal income tax purposes for the taxable year ending December 31, 2019. To facilitate this planned election, it has elected to be taxed as a corporation for U.S. federal income tax purposes effective January 1, 2019. Also on February 13, 2019, the Company exchanged $86 million of 5.50% Senior Notes due 2022 (the "New Senior Notes") for its existing 5.25% senior notes due 2022 (the "Existing Senior Notes"). The New Senior Notes were jointly and severally issued by two of the Company's subsidiaries and fully guaranteed by the Company. The indenture governing the New Senior Notes contains a number of covenants, including several financial covenants. On February 14, 2019, the Company's Board of Directors approved a dividend in the amount of $0.41 per share payable on March 15, 2019 to shareholders of record as of March 1, 2019. On February 28, 2019, the Company filed a certificate of conversion with the Secretary of State of the State of Delaware (the "Secretary of State") to convert from a Delaware limited liability company to a Delaware corporation (the "Conversion") and change its name to Ellington Financial Inc. (the "Corporation"). The Conversion became effective on March 1, 2019, and upon effectiveness, each of the Company's existing common shares representing limited liability company interests, no par value, converted into one issued and outstanding, fully paid and nonassessable share of common stock, $0.001 par value per share, of the Corporation. In connection with the Conversion, the Board approved the Company's Certificate of Incorporation, which the Company also filed with the Secretary of State, and the Company's Bylaws. On March 11, 2019, the Company's Board of Directors approved a dividend in the amount of $0.14 per share payable on April 25, 2019 to stockholders of record as of March 29, 2019. In connection with the Conversion and the Company's plan to qualify as a REIT for the year ending December 31, 2019, effective January 1, 2019 the Company no longer qualifies for investment company accounting in accordance with ASC 946 and will discontinue its use prospectively. The Company will continue to measure its qualifying assets and liabilities at fair value by electing the fair value option where applicable.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Assets Sold under Agreements to Repurchase [Line Items]
Basis of Presentation	Basis of Presentation : The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, or "U.S. GAAP," and Regulation S-X. The consolidated financial statements include the accounts of the Company, the Operating Partnership, its subsidiaries, and variable interest entities, or "VIEs," for which the Company is deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and those differences could be material. The Company adopted ASC 946, Financial Services—Investment Companies ("ASC 946") upon its commencement of operations in August 2007, and applied U.S. GAAP for investment companies. In connection with the Company's internal restructuring and the Company's intention to qualify as a REIT for the year ended December 31, 2019, the Company determined that, effective January 1, 2019, it no longer qualified for investment company accounting in accordance with ASC 946-10-25, and has prospectively discontinued its use. The Company elected the fair value option, or "FVO," for, and therefore the Company will continue to measure at fair value, those of its assets and liabilities it had previously measured at fair value and for which such election is permitted, as provided for under ASC 825, Financial Instruments ("ASC 825"). Due to the prospective application of a change in accounting as required under ASC 946-10-25-2, the Company determined that the presentation of its consolidated financial statements for periods beginning after December 31, 2018 are not comparable to the consolidated financial statements previously prepared for prior periods for which the Company applied ASC 946. As a result, the Company has provided separate consolidated financial statements for applicable prior periods in Item 8 of this Annual Report on Form 10-K. : The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, or "U.S. GAAP," for investment companies, ASC 946, Financial Services—Investment Companies ("ASC 946"). The Company has determined that it meets the definition of an investment company under ASC 946 . ASC 946 requires, among other things, that investments be reported at fair value in the financial statements. Additionally under ASC 946 the Company generally will not consolidate its interest in any company other than in its subsidiaries that qualify as investment companies under ASC 946. The consolidated financial statements include the accounts of the Company, the Operating Partnership, and its subsidiaries. They also include certain securitization trusts which are designed to facilitate specific financing activities of the Company and represent a direct extension of the Company's business activities. All intercompany balances and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and those differences could be material.
Reclassification and Presentation	Reclassification and Presentation Effective January 1, 2019, the Company prospectively discontinued its application of ASC 946. Upon its change in status, the following significant changes and elections were made: • Investments in securities are now accounted for in accordance with ASC 320, Investments—Debt and Equity Securities ("ASC 320"); • The Company elected the FVO as provided for under ASC 825-10-25-4 for all eligible financial instruments for which the Company had previously measured at fair value, including investments in securities, loans, financial derivatives, and certain of the Company's secured borrowings. As a result, all changes in the fair value of such financial instruments will continue to be recorded in earnings on the Company's Consolidated Statement of Operations; • Real estate owned, or "REO," is not eligible for the FVO election. As a result, REO is carried at the lower of cost or fair value. The Company's cost basis in any REO that was previously measured at fair value under ASC 946 was adjusted on January 1, 2019 to equal the fair value of such investment as of December 31, 2018; • The Company elected not to designate its financial derivatives as hedging instruments in accordance with ASC 815, Derivatives and Hedging ("ASC 815"). As a result, all changes in the fair value of financial derivatives will continue to be recorded in earnings on the Company's Consolidated Statement of Operations; • Forward settling to-be-announced mortgage-backed-securities, or "TBAs," are no longer classified as investments. TBAs will be classified as financial derivatives, with the difference between the forward contract price and the market value of the TBA position as of the reporting date included in Unrealized gains (losses) on financial derivatives, net, on the Consolidated Statement of Operations; and • The Company is required to account for certain of its equity investments under ASC 323-10, Investments—Equity Method and Joint Ventures ("ASC 323-10"). The Company has elected the FVO for such equity investments and changes in fair value will be reported in Earnings from investments in unconsolidated entities, on the Consolidated Statement of Operations. The discontinuation of the Company's application of ASC 946 prospectively changed the presentation of the Company's consolidated financial statements. The most significant changes are: • The Consolidated Statement of Assets, Liabilities, and Equity has been changed to a Consolidated Balance Sheet; • The Consolidated Condensed Schedule of Investments has been removed; • The Consolidated Statement of Operations is no longer presented in the format required under ASC 946. The Company will present the Consolidated Statement of Operations as required under U.S. GAAP for operating companies. A Consolidated Statement of Other Comprehensive Income (Loss) will be presented, if and when applicable; • The Consolidated Statement of Cash Flows has been changed, and now includes a section for investing activities; • Certain footnotes have been changed to reflect conformity with applicable U.S. GAAP for operating companies; • The Company re-evaluated its interests in all entities to determine whether they are variable interests, and re-evaluated its investments, including it investments in partially owned entities, to determine if they are VIEs, as required under ASC 810, Consolidation ("ASC 810"). The Company also re-evaluated consolidation considerations for all of its investments in VIEs and partially owned entities, as required under ASC 810. Applicable disclosures related to VIEs have been included in these notes to consolidated financial statements; • Securities/loans sold under agreements to be repurchased at an agreed-upon price and date, which were formerly referred to as "reverse repurchase agreements," are now referred to as "repurchase agreements"; • Securities/loans purchased under agreements to resell at an agreed-upon price and date, which were formerly referred to as "repurchase agreements," are now referred to as "reverse repurchase agreements"; and • The financial highlights disclosures, which are not required under U.S. GAAP for operating companies, have been removed.
Valuation	Valuation : The Company applies ASC 820-10, Fair Value Measurement ("ASC 820") to its holdings of financial instruments. ASC 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1—inputs to the valuation methodology are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Currently, the types of financial instruments the Company generally includes in this category are listed equities and exchange-traded derivatives; • Level 2—inputs to the valuation methodology other than quoted prices included in Level 1 are observable for the asset or liability, either directly or indirectly. Currently, the types of financial instruments that the Company generally includes in this category are RMBS for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored entity, or "Agency RMBS," U.S. Treasury securities and sovereign debt, certain non-Agency RMBS, CMBS, CLOs, corporate debt, and actively traded derivatives such as interest rate swaps, foreign currency forwards, and other over-the-counter derivatives; and • Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement. The types of financial instruments that the Company generally includes in this category are certain RMBS, CMBS, CLOs, ABS, credit default swaps, or "CDS," on individual ABS, and total return swaps on distressed corporate debt, in each case where there is less price transparency. Also included in this category are residential and commercial mortgage loans, consumer loans, and private corporate debt and equity investments. For certain financial instruments, the various inputs that management uses to measure fair value may fall into different levels of the fair value hierarchy. For each such financial instrument, the determination of which category within the fair value hierarchy is appropriate is based on the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the various inputs that management uses to measure fair value, with the highest priority given to inputs that are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets (Level 1), and the lowest priority given to inputs that are unobservable and significant to the fair value measurement (Level 3). The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company may use valuation techniques consistent with the market and income approaches to measure the fair value of its financial instruments. The market approach uses third-party valuations and information obtained from market transactions involving identical or similar financial instruments. The income approach uses projections of the future economic benefit of an instrument to determine its fair value, such as in the discounted cash flow methodology. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in these financial instruments. The leveling of each financial instrument is reassessed at the end of each period. Transfers between levels of the fair value hierarchy are assumed to occur at the end of the reporting period. Summary Valuation Techniques For financial instruments that are traded in an "active market," the best measure of fair value is the quoted market price. However, many of the Company's financial instruments are not traded in an active market. Therefore, management generally uses third-party valuations when available. If third-party valuations are not available, management uses other valuation techniques, such as the discounted cash flow methodology. The following are summary descriptions, for various categories of financial instruments, of the valuation methodologies management uses in determining fair value of the Company's financial instruments in such categories. Management utilizes such methodologies to assign a fair value (the estimated price that, in an orderly transaction at the valuation date, would be received to sell an asset, or paid to transfer a liability, as the case may be) to each such financial instrument. For mortgage-backed securities, or "MBS," TBAs, CLOs, and corporate debt and equity, management seeks to obtain at least one third-party valuation, and often obtains multiple valuations when available. Management has been able to obtain third-party valuations on the vast majority of these instruments and expects to continue to solicit third-party valuations in the future. Management generally values each financial instrument at the average of third-party valuations received and not rejected as described below. Third-party valuations are not binding, management may adjust the valuations it receives (e.g., downward adjustments for odd lots), and management may challenge or reject a valuation when, based on its validation criteria, management determines that such valuation is unreasonable or erroneous. Furthermore, based on its validation criteria, management may determine that the average of the third-party valuations received for a given financial instrument does not result in what management believes to be the fair value of such instrument, and in such circumstances management may override this average with its own good faith valuation. The validation criteria may take into account output from management's own models, recent trading activity in the same or similar instruments, and valuations received from third parties. The use of proprietary models requires the use of a significant amount of judgment and the application of various assumptions including, but not limited to, assumptions concerning future prepayment rates and default rates. Given their relatively high level of price transparency, Agency RMBS pass-throughs are typically classified as Level 2. Non-Agency RMBS, CMBS, Agency interest only and inverse interest only RMBS, CLOs, and corporate bonds are generally classified as either Level 2 or Level 3 based on analysis of available market data and/or third-party valuations. The Company's investments in distressed corporate debt can be in the form of loans as well as total return swaps on loans. These investments, as well as related non-listed equity investments, are generally designated as Level 3 assets. Valuations for total return swaps are typically based on prices of the underlying loans received from third-party pricing services. Private equity investments are generally classified as Level 3. Furthermore, the methodology used by the third-party valuation providers is reviewed at least annually by management, so as to ascertain whether such providers are utilizing observable market data to determine the valuations that they provide. For residential and commercial mortgage loans and consumer loans, management determines fair value by taking into account both external pricing data, which includes third-party valuations, and internal pricing models. Management has obtained third-party valuations on the majority of these investments and expects to continue to solicit third-party valuations in the future. In determining fair value for non-performing mortgage loans, management evaluates third-party valuations, if applicable, as well as management's estimates of the value of the underlying real estate, using information including general economic data, broker price opinions, or "BPOs," recent sales, property appraisals, and bids. In determining fair value for performing mortgage loans and consumer loans, management evaluates third-party valuations, if applicable, as well as discounted cash flows of the loans based on market assumptions. Cash flow assumptions typically include projected default and prepayment rates and loss severities, and may include adjustments based on appraisals and BPOs. Mortgage and consumer loans are classified as Level 3. The Company has securitized certain mortgage loans that are not deemed "qualified mortgage," or "QM," loans under the rules of the Consumer Financial Protection Bureau, or "non-QM loans." The Company's securitized non-QM loans are held as part of a collateralized financing entity, or "CFE." A CFE is a VIE that holds financial assets, issues beneficial interests in those assets, and has no more than nominal equity, and for which the issued beneficial interests have contractual recourse only to the related assets of the CFE. ASC 810 allows the Company to elect to measure both the financial assets and financial liabilities of the CFE using the more observable of the fair value of the financial assets and the fair value of the financial liabilities of the CFE. The Company has elected the FVO for initial and subsequent recognition of the debt issued by its consolidated securitization trusts and has determined that each consolidated securitization trust meets the definition of a CFE; see Note 10 " Securitization Transactions — Residential Mortgage Loan Securitizations " for further discussion on the Company's securitization trusts. The Company has determined the inputs to the fair value measurement of the financial liabilities of each of its CFEs to be more observable than those of the financial assets and, as a result, has used the fair value of the financial liabilities of each of the CFEs to measure the fair value of the financial assets of each of the CFEs. The fair value of the debt issued by each CFE is typically valued using discounted cash flows and other market data. The securitized non-QM loans, which are assets of the CFEs, are included in Loans, at fair value, on the Company's Consolidated Balance Sheet. The debt issued by the CFEs is included in Other secured borrowings, at fair value, on the Company's Consolidated Balance Sheet. Unrealized gains (losses) from changes in fair value of Other secured borrowings, at fair value, are included in Other, net, on the Company's Consolidated Statement of Operations. The securitized non-QM loans and the debt issued by the Company's CFEs are both classified as Level 3. For financial derivatives with greater price transparency, such as CDS on asset-backed indices, CDS on corporate indices, certain options on the foregoing, and total return swaps on publicly traded equities or indices, market-standard pricing sources are used to obtain valuations; these financial derivatives are generally classified as Level 2. Interest rate swaps, swaptions, and foreign currency forwards are typically valued based on internal models that use observable market data, including applicable interest rates and foreign currency rates in effect as of the measurement date; the model-generated valuations are then typically compared to counterparty valuations for reasonableness. These financial derivatives are also generally classified as Level 2. Financial derivatives with less price transparency, such as CDS on individual ABS, are generally valued based on internal models, and are classified as Level 3. In the case of CDS on individual ABS, the valuation process typically starts with an estimation of the value of the underlying ABS. In valuing its financial derivatives, the Company also considers the creditworthiness of both the Company and its counterparties, along with collateral provisions contained in each financial derivative agreement. Investments in private operating entities, such as loan originators, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results, and independent third party valuation estimates. These investments are classified as Level 3. The Company's repurchase and reverse repurchase agreements are carried at cost, which approximates fair value. Repurchase and reverse repurchase agreements are classified as Level 2, based on the adequacy of the collateral and their short term nature. The Company's valuation process, including the application of validation criteria, is overseen by the Manager's Valuation Committee (the "Valuation Committee"). The Valuation Committee includes senior level executives from various departments within the Manager, and each quarter, the Valuation Committee reviews and approves the valuations of the Company's financial instruments. The valuation process also includes a monthly review by the Company's third-party administrator. The goal of this review is to replicate various aspects of the Company's valuation process based on the Company's documented procedures. Because of the inherent uncertainty of valuation, the estimated fair value of the Company's financial instruments may differ significantly from the values that would have been used had a ready market for the financial instruments existed, and the differences could be material to the Company's consolidated financial statements. : The Company applies ASC 820-10, Fair Value Measurement ("ASC 820-10"), to its holdings of financial instruments. ASC 820-10 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1—inputs to the valuation methodology are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Currently, the types of financial instruments the Company generally includes in this category are listed equities, exchange-traded derivatives, and cash equivalents; • Level 2—inputs to the valuation methodology other than quoted prices included in Level 1 are observable for the asset or liability, either directly or indirectly. Currently, the types of financial instruments that the Company generally includes in this category are Agency RMBS, U.S. Treasury securities and sovereign debt, certain non-Agency RMBS and CMBS, CLOs, and corporate debt, and actively traded derivatives, such as interest rate swaps and foreign currency forwards, and certain other over-the-counter derivatives; and • Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement. The types of financial instruments that the Company generally includes in this category are certain RMBS, CMBS, and CLOs, ABS, credit default swaps, or "CDS," on individual ABS, distressed corporate debt, and total return swaps on distressed corporate debt, in each case where there is less price transparency. Also included in this category are residential and commercial mortgage loans, consumer loans, non-listed equities, private corporate debt and equity investments, secured notes, and Other secured borrowings, at fair value. For certain financial instruments, the various inputs that management uses to measure fair value for such financial instrument may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for such financial instrument is based on the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the various inputs that management uses to measure fair value with the highest priority to inputs that are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets (Level 1) and the lowest priority to inputs that are unobservable and significant to the fair value measurement (Level 3). The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company may use valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. The market approach uses third-party valuations and information obtained from market transactions involving identical or similar assets or liabilities. The income approach uses projections of the future economic benefit of an instrument to determine its fair value, such as in the discounted cash flow methodology. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in these financial instruments. The leveling of each financial instrument is reassessed at the end of each period. Summary Valuation Techniques For financial instruments that are traded in an "active market," the best measure of fair value is the quoted market price. However, many of the Company's financial instruments are not traded in an active market. Therefore, management generally uses third-party valuations when available. If third-party valuations are not available, management uses other valuation techniques, such as the discounted cash flow methodology. The following are summary descriptions, for various categories of financial instruments, of the valuation methodologies management uses in determining fair value of the Company's financial instruments in such categories. Management utilizes such methodologies to assign a good faith fair value (the estimated price that, in an orderly transaction at the valuation date, would be received to sell an asset, or paid to transfer a liability, as the case may be) to each such financial instrument. For mortgage-backed securities, or "MBS," including To Be Announced MBS, or "TBAs," CLOs, and distressed and non-distressed corporate debt and equity, management seeks to obtain at least one third-party valuation, and often obtains multiple valuations when available. Management has been able to obtain third-party valuations on the vast majority of these instruments and expects to continue to solicit third-party valuations in the future. Management generally values each financial instrument at the average of third-party valuations received and not rejected as described below. Third-party valuations are not binding, and while management generally does not adjust the valuations it receives, management may challenge or reject a valuation when, based on its validation criteria, management determines that such valuation is unreasonable or erroneous. Furthermore, based on its validation criteria, management may determine that the average of the third-party valuations received for a given instrument does not result in what management believes to be the fair value of such instrument, and in such circumstances management may override this average with its own good faith valuation. The validation criteria may take into account output from management's own models, recent trading activity in the same or similar instruments, and valuations received from third parties. The use of proprietary models requires the use of a significant amount of judgment and the application of various assumptions including, but not limited to, assumptions concerning future prepayment rates and default rates. Valuations for fixed-rate RMBS pass-throughs issued by a U.S. government agency or government-sponsored enterprise are typically based on observable pay-up data (pay-ups are price premiums for specified categories of fixed-rate pools relative to their TBA counterparts) or models that use observable market data, such as interest rates and historical prepayment speeds, and are validated against third-party valuations. Given their relatively high level of price transparency, Agency RMBS pass-throughs are typically designated as Level 2 assets. Non-Agency MBS, Agency interest only and inverse interest only RMBS, and CLOs are generally classified as either Level 2 or Level 3 based on analysis of available market data and/or third-party valuations. The Company's investments in distressed corporate debt can be in the form of loans as well as total return swaps on loans. These investments, as well as related non-listed equity investments, are generally designated as Level 3 assets. Valuations for total return swaps are typically based on prices of the underlying loans received from widely used third-party pricing services. Investments in non-distressed corporate bonds are generally also valued based on prices received from third-party pricing services, and many of these bonds, because they are very liquid with readily observable data, are generally classified as Level 2 holdings. Furthermore, the methodology used by the third-party valuation providers is reviewed at least annually by management, so as to ascertain whether such providers are utilizing observable market data to determine the valuations that they provide. For residential and commercial mortgage loans, consumer loans, and real estate owned properties, or "REO," management determines fair value by taking into account both external pricing data, when available, and internal pricing models. Non-performing mortgage loans and REO are typically valued based on management's estimates of the value of the underlying real estate, using information including general economic data, broker price opinions, or "BPOs," recent sales, property appraisals, and bids. Performing mortgage loans and consumer loans are typically valued using discounted cash flows based on market assumptions. Cash flow assumptions typically include projected default and prepayment rates and loss severities, and may include adjustments based on appraisals and BPOs. Mortgage and consumer loans and REO properties are classified as Level 3 assets. Securitized mortgage loans that are not deemed "qualified mortgage," or "QM," loans under the rules of the Consumer Financial Protection Bureau, or "non-QM loans," are held as part of a collateralized financing entity, or "CFE." A CFE is a variable interest entity, or "VIE," that holds financial assets, issues beneficial interests in those assets, and has no more than nominal equity, and for which the issued beneficial interests have contractual recourse only to the related assets of the CFE. ASC 810, Consolidation ("ASC 810"), allows the Company to elect to measure both the financial assets and financial liabilities of the CFE using the more observable of the fair value of the financial assets and the fair value of the financial liabilities of the CFE. The Company has elected the fair value option for initial and subsequent recognition of the debt issued by its consolidated securitization trust and has determined such trust meets the definition of a CFE; see Note 6 for further discussion on the Company's securitization trusts. The Company has determined the inputs to the fair value measurement of the financial liabilities of its CFE to be more observable than those of the financial assets and, as a result, has used the fair value of the financial liabilities of the CFE to measure the fair value of the financial assets of the CFE. The fair value of the debt issued by the CFE is typically valued using discounted cash flows and other market data. The securitized non-QM loans, which are assets of the CFE, are included in Investments, at fair value on the Company's Consolidated Statement of Assets, Liabilities, and Equity. The debt issued by the CFE is included in Other secured borrowings, at fair value, on the Company's Consolidated Statement of Assets, Liabilities, and Equity. The securitized non-QM loans and the debt issued by the Company's CFE are both designated as Level 3 financial instruments. For financial derivatives with greater price transparency, such as CDS on asset-backed indices, CDS on corporate indices, certain options on the foregoing, and total return swaps on publicly traded equities, market-standard pricing sources are used to obtain valuations; these financial derivatives are generally designated as Level 2 instruments. Interest rate swaps, swaptions, and foreign currency forwards are typically valued based on internal models that use observable market data, including applicable interest rates and foreign currency rates in effect as of the measurement date; the model-generated valuations are then typically compared to counterparty valuations for reasonableness. These financial derivatives are also generally designated as Level 2 instruments. Financial derivatives with less price transparency, such as CDS on individual ABS, are generally valued based on internal models, and are typically designated as Level 3 instruments. In the case of CDS on individual ABS, the valuation process typically starts with an estimation of the value of the underlying ABS. In valuing its derivatives, the Company also considers the creditworthiness of both the Company and its counterparties, along with collateral provisions contained in each derivative agreement. Investments in private operating entities, such as loan originators, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results and independent third party valuation estimates. These investments are designated as Level 3 assets. The Company's repurchase agreements are carried at fair value based on their contractual amounts as the debt is short-term in nature. The Company's reverse repurchase agreements are carried at cost, which approximates fair value. Repurchase and reverse repurchase agreements are classified as Level 2 assets and liabilities based on the adequacy of the collateral and their short term nature. The Company's valuation process, including the application of validation criteria, is overseen by the Manager's Valuation Committee ("Valuation Committee"). The Valuation Committee includes senior level executives from various departments within the Manager, and each quarter, the Valuation Committee reviews and approves the valuations of the Company's investments. The valuation process also includes a monthly review by the Company's third-party administrator. The goal of this review is to replicate various aspects of the Company's valuation process based on the Company's documented procedures.
Accounting for Securities	Accounting for Securities : Purchases and sales of investments in securities are generally recorded on trade date, and realized and unrealized gains and losses are calculated based on identified cost. Investments in securities are recorded in accordance with ASC 320 or ASC 325-40, Beneficial Interests in Securitized Financial Assets ("ASC 325-40"). The Company generally classifies its securities as available-for-sale. The Company has chosen to elect the FVO pursuant to ASC 825 for its investments in securities. Electing the FVO allows the Company to record changes in fair value in the Consolidated Statement of Operations, as a component of Unrealized gains (losses) on securities and loans, net, which, in management's view, more appropriately reflects the results of operations for a particular reporting period as all investment activities will be recorded in a similar manner. Many of the Company's investments in securities, such as MBS and CLOs, are issued by entities that are deemed to be VIEs. For the majority of such investments, the Company has determined it is not the primary beneficiary of such VIEs and therefore has not consolidated such VIEs. The Company's maximum risk of loss in these unconsolidated VIEs is generally limited to the fair value of the Company's investment in the VIE. The Company evaluates its investments in interest only securities to determine whether they meet the requirements for classification as financial derivatives under ASC 815. For interest only securities, where the holder is entitled only to a portion of the interest payments made on the mortgages underlying certain MBS, and inverse interest only securities, which are interest only securities whose coupon has an inverse relationship to its benchmark rate, such as LIBOR, the Company has determined that such investments do not meet the requirements for treatment as financial derivatives and are classified as securities. The Company evaluates the cost basis of its investments in securities for other-than-temporary impairment, or "OTTI," on at least a quarterly basis. The determination of whether a security is other-than-temporarily impaired requires judgments, estimates, and assumptions based on subjective and objective factors. As a result, the timing and amount of an OTTI constitutes an accounting estimate that may change materially over time. When the fair value of a security is less than its amortized cost basis as of the balance sheet date, the security's cost basis is considered impaired, and the impairment is designated as either temporary or other-than-temporary. When a security's cost basis is impaired, an OTTI is considered to have occurred if (i) the Company intends to sell the security (i.e., a decision has been made as of the reporting date), (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the security's amortized cost basis, even if the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security. Additionally, for securities accounted for under ASC 325-40, an impairment of the cost basis is recorded when there is an adverse change in the expected cash flows to be received and the fair value of the security is less than its carrying amount. In determining whether an adverse change in cash flows has occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), is compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflect those that a "market participant" would use and include observations of current information and events, and assumptions related to fluctuations in interest rates, prepayment speeds and the timing and amount of potential credit losses. Cash flows are discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments made to the cost basis of the security are reflected in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations.
Accounting for Loans	Accounting for Loans : The Company's loan portfolio generally consists of residential mortgage, commercial mortgage, and consumer loans. The Company's loans are accounted for under ASC 310-10, Receivables , and are classified as held-for-investment when the Company has the intent and ability to hold such loans for the foreseeable future or to maturity/payoff. When the Company has the intent to sell loans, such loans will be classified as held-for-sale. Mortgage loans held-for-sale are accounted for under ASC 948-310, Financial services—mortgage banking. The Company may aggregate its loans into pools based on common risk characteristics at purchase. Once a pool of loans is assembled, its composition is maintained. The Company has chosen to elect the FVO pursuant to ASC 825 for its loan portfolios. Loans are recorded at fair value on the Consolidated Balance Sheet and changes in fair value are recorded in earnings on the Consolidated Statement of Operations as a component of Unrealized gains (losses) on securities and loans, net. The Company generates income from fees on certain loans, generally commercial mortgage loans, that it originates and holds for investment, including origination and exit fees. Such fee income is recorded when earned and included in Other, net on the Consolidated Statement of Operations. Transfers between held-for-investment and held-for-sale occur once the Company's intent to sell the loans changes. For residential and commercial mortgage loans, the Company generally accrues interest payments. Such loans are typically moved to non-accrual status if the loan becomes 90 days or more delinquent. The Company does not accrue interest payments on its consumer loans; interest payments are recorded upon receipt. Once consumer loans are more than 120 days past due, the Company will generally charge off such loans. The Company evaluates its charged-off loans and determines collectibility, if any, on such loans. The Company evaluates the collectibility of both interest and principal on each of its loan investments and whether the cost basis of the loan is impaired. A loan's cost basis is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan's cost basis is impaired, the Company does not record an allowance for loan loss as it has elected the FVO on all of its loan investments. The Company will recognize impairments through an adjustment to the amortized cost basis and recognize a realized loss in the period such adjustment was made, which is included in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations.
Interest Income	Interest Income : The Company amortizes premiums and accretes discounts on its debt securities. Coupon interest income on fixed-income investments is generally accrued based on the outstanding principal balance or notional value and the current coupon interest rate. For debt securities that are deemed to be of high credit quality at the time of purchase (generally Agency RMBS, exclusive of interest only securities), premiums and discounts are amortized/accreted into interest income over the life of such securities using the effective interest method. For such securities whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment, or "Catch-up Premium Amortization Adjustment," is made to amortization to reflect the cumulative impact of the change in effective yield. For debt securities (generally non-Agency RMBS, CMBS, ABS, CLOs, and interest only securities) that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. When the fair value of a debt security is less than its amortized cost basis as of the balance sheet date, the security's cost basis is considered impaired. The Company will adjust such impaired cost basis to the present value of the estimated future cash flows. This adjustment to the cost basis is reported in Realized gains (losses) on securities and loans, net, on the Consolidated Statement of Operations. For purposes of estimating the future expected cash flows, management uses assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Changes in projected cash flows will result in prospective changes in the yield/interest income recognized on such securities based on the updated expected future cash flows. For each loan purchased with the expectation that both interest and principal will be paid in full, the Company generally amortizes or accretes any premium or discount over the life of the loan utilizing the effective interest method. However, based on current information and events, the Company re-assesses the collectibility of interest and principal, and generally designates a loan as in non-accrual status either when any payments have become 90 or more days past due, or when, in the opinion of management, it is probable that the Company will be unable to collect either interest or principal in full. Once a loan is designated as in non-accrual status, as long as principal is still expected to be collectible in full, interest payments are recorded as interest income only when received (i.e., under the cash basis method); accruals of interest income are only resumed when the loan becomes contractually current and performance is demonstrated to be resumed. However, if principal is not expected to be collectible in full, the cost recovery method is used (i.e., no interest income is recognized, and all payments received—whether contractually interest or principal—are applied to cost). For each loan purchased with evidence of credit deterioration since origination and the expectation that either principal or interest will not be paid in full, interest income is generally recognized using the effective interest method for as long as the cash flows can be reasonably estimated. Here, instead of amortizing the purchase discount (i.e., the excess of the unpaid principal balance over the purchase price) over the life of the loan, the Company effectively amortizes the accretable yield (i.e., the excess of the Company's estimate of the total cash flows to be collected over the life of the loan over the purchase price). Not less than quarterly, the Company updates its estimate of the cash flows expected to be collected over the life of the loan, and revised yields are prospectively applied. For certain groups of consumer loans that the Company considers as having sufficiently homogeneous characteristics, the Company aggregates such loans into pools, and accounts for each such pool as a single unit of account. The pool is then treated analogously to a debt security deemed not to be of high credit quality, in that (i) the aggregate premium or discount for the pool is amortized or accreted into interest income based on the pool's effective interest rate; (ii) the effective interest rate is determined based on the net expected cash flows of the pool, taking into account estimates of prepayments, defaults, and loss severities; and (iii) estimates are updated not less than quarterly and revised yields are prospectively applied. In estimating future cash flows on the Company's debt securities, there are a number of assumptions that will be subject to significant uncertainties and contingencies, including, in the case of MBS, assumptions relating to prepayment rates, default rates, loan loss severities, and loan repurchases. These estimates require the use of a significant amount of judgment.
Securities Transactions And Investment Income Policy [Policy Text Block]	Purchase and Sales of Investments and Investment Income : Purchases and sales of investments are generally recorded on trade date, and realized and unrealized gains and losses are calculated based on identified cost. The Company amortizes premiums and accretes discounts on its debt investments. Coupon interest income on fixed-income investments is generally accrued based on the outstanding principal balance or notional value and the current coupon interest rate. For Agency RMBS and debt securities that are deemed to be of high credit quality at the time of purchase, premiums and discounts are amortized into interest income over the life of such securities using the effective interest method. For securities whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment is made to amortization to reflect the cumulative impact of the change in effective yield. For debt securities (including non-Agency MBS) that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. For purposes of determining the effective interest rate, management estimates the future expected cash flows of its investment holdings based on assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Principal write-offs are generally treated as realized losses. Changes in projected cash flows, as applied to the current amortized cost of the security, may result in a prospective change in the yield/interest income recognized on such securities. For each loan purchased with the expectation that both interest and principal will be paid in full, the Company generally amortizes or accretes any premium or discount over the life of the loan utilizing the effective interest method. However, on at least a quarterly basis based on current information and events, the Company re-assesses the collectibility of interest and principal, and designates a loan as impaired either when any payments have become 90 or more days past due, or when, in the opinion of management, it is probable that the Company will be unable to collect either interest or principal in full. Once a loan is designated as impaired, as long as principal is still expected to be collectible in full, interest payments are recorded as interest income only when received (i.e., under the cash basis method); accruals of interest income are only resumed when the loan becomes contractually current and performance is demonstrated to be resumed. However, if principal is not expected to be collectible in full, the cost recovery method is used (i.e., no interest income is recognized, and all payments received—whether contractually interest or principal—are applied to cost). For each loan purchased with evidence of credit deterioration since origination and the expectation that either principal or interest will not be paid in full, interest income is generally recognized using the effective interest method for as long as the cash flows can be reasonably estimated. Here, instead of amortizing the purchase discount (i.e., the excess of the unpaid principal balance over the purchase price) over the life of the loan, the Company effectively amortizes the accretable yield (i.e., the excess of the Company's estimate of the total cash flows to be collected over the life of the loan over the purchase price). Not less than quarterly, the Company updates its estimate of the cash flows expected to be collected over the life of the loan, and revised yields are prospectively applied. To the extent that cash flows cannot be reasonably estimated, these loans are generally accounted for under the cost recovery method. For certain groups of consumer loans that the Company considers as having sufficiently homogeneous characteristics, the Company aggregates such loans into pools, and accounts for each such pool as a single asset. The pool is then treated analogously to a debt security deemed not to be of high credit quality, in that (i) the aggregate premium or discount for the pool is amortized or accreted into interest income based on the pool's effective interest rate; (ii) the effective interest rate is determined based on the net expected cash flows of the pool, taking into account estimates of prepayments, defaults, and loss severities; and (iii) estimates are updated not less than quarterly and revised yields are prospectively applied. In estimating future cash flows on the Company's debt investments, there are a number of assumptions that will be subject to significant uncertainties and contingencies, including, in the case of MBS, assumptions relating to prepayment rates, default rates, loan loss severities, and loan repurchases. These estimates require the use of a significant amount of judgment. The Company receives dividend income on certain of its equity investments and rental income on certain of its REO properties. These items of income are included on the Consolidated Statement of Operations in, "Other income."
Investments in Unconsolidated Entities	Investments in unconsolidated entities: The Company has made and may in the future make non-controlling equity investments in various entities, such as loan originators. Such investments are generally in the form of preferred and/or common equity, or membership interests. In certain cases, the Company can exercise significant influence over the entity (e.g. by having representation on the entity's board of directors) but the requirements for consolidation under ASC 810 are not met; in such cases the Company is required to account for such equity investments under ASC 323-10. The Company has chosen to elect the FVO pursuant to ASC 825 for its investments in unconsolidated entities, which, in management's view, more appropriately reflects the results of operations for a particular reporting period, as all investment activities will be recorded in a similar manner. The period change in fair value of the Company's investments in unconsolidated entities is recorded on the Consolidated Statement of Operations in Earnings from investments in unconsolidated entities.
REO	REO : When the Company obtains possession of real property in connection with a foreclosure or similar action, the Company de-recognizes the associated mortgage loan according to ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure ("ASU 2014-04"). Under the provisions of ASU 2014-04, the Company is deemed to have received physical possession of real estate property collateralizing a mortgage loan when it obtains legal title to the property upon completion of a foreclosure or when the borrower conveys all interest in the property to it through a deed in lieu of foreclosure or similar legal agreement. The Company's cost basis in REO is equal to the fair value of the associated mortgage loan at the time the Company obtains possession. REO valuations are reflected at the lower of cost or fair value. The fair value of such REO is typically based on management's estimates which generally use information including general economic data, BPOs, recent sales, property appraisals, and bids, and takes into account the expected costs to sell the property. REO recorded at fair value on a non-recurring basis are classified as Level 3. : When the Company obtains possession of real property in connection with a foreclosure or similar action, the Company de-recognizes the associated mortgage loan according to ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure ("ASU 2014-04"). Under the provisions of ASU 2014-04, the Company is deemed to have received physical possession of real estate property collateralizing a mortgage loan when it obtains legal title to the property upon completion of a foreclosure or when the borrower conveys all interest in the property to it through a deed in lieu of foreclosure or similar legal agreement. The Company holds all REO at fair value.
Securities Sold Short	Securities Sold Short : The Company may purchase or engage in short sales of U.S. Treasury securities and sovereign debt to mitigate the potential impact of changes in interest rates and/or foreign exchange rates on the performance of its portfolio. When the Company sells securities short, it typically satisfies its security delivery settlement obligation by borrowing or purchasing the security sold short from the same or a different counterparty. When borrowing a security sold short from a counterparty, the Company generally is required to deliver cash or securities to such counterparty as collateral for the Company's obligation to return the borrowed security. The Company has chosen to elect the FVO pursuant to ASC 825 for its securities sold short. Electing the FVO allows the Company to record changes in fair value in the Consolidated Statement of Operations, which, in management's view, more appropriately reflects the results of operations for a particular reporting period as all securities activities will be recorded in a similar manner. As such, securities sold short are recorded at fair value on the Consolidated Balance Sheet and the period change in fair value is recorded in current period earnings on the Consolidated Statement of Operations as a component of Unrealized gains (losses) on securities and loans, net. A realized gain or loss will be recognized upon the termination of a short sale if the market price is less or greater than the original sale price. Such realized gain or loss is recorded on the Company's Consolidated Statement of Operations in Realized gains (losses) on securities and loans, net. : When the Company sells securities short, it typically satisfies its security delivery settlement obligation by obtaining the security sold short from the same or a different counterparty. The Company generally is required to deliver cash or securities as collateral to the counterparty for the Company's obligation to return the borrowed security. The amount by which the market value of the obligation falls short of or exceeds the proceeds from the short sale is treated as an unrealized gain or loss, respectively. A realized gain or loss will be recognized upon the termination of a short sale if the market price is less or greater than the proceeds originally received.
Financial Derivatives	Financial Derivatives : The Company enters into various types of financial derivatives subject to its investment guidelines, which include restrictions associated with qualifying and maintaining qualification as a REIT. The Company's financial derivatives are predominantly subject to bilateral collateral arrangements or clearing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or the "Dodd-Frank Act." The Company may be required to deliver or receive cash or securities as collateral upon entering into derivative transactions. In addition, changes in the relative value of derivative transactions may require the Company or the counterparty to post or receive additional collateral. In the case of cleared derivatives, the clearinghouse becomes the Company's counterparty and a futures commission merchant acts as an intermediary between the Company and the clearinghouse with respect to all facets of the related transaction, including the posting and receipt of required collateral. Cash collateral received by the Company is included in Due to brokers, on the Consolidated Balance Sheet. Conversely, cash collateral posted by the Company is included in Due from brokers, on the Consolidated Balance Sheet. The types of derivatives primarily utilized by the Company are swaps, TBAs, futures, options, and forwards. Swaps : The Company may enter into various types of swaps, including interest rate swaps, credit default swaps, and total return swaps. The primary risk associated with the Company's interest rate swap activity is interest rate risk. The primary risk associated with the Company's credit default swaps and total return swaps is credit risk. The Company is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Primarily to help mitigate interest rate risk, the Company enters into interest rate swaps. Interest rate swaps are contractual agreements whereby one party pays a floating interest rate on a notional principal amount and receives a fixed-rate payment on the same notional principal, or vice versa, for a fixed period of time. Interest rate swaps change in value with movements in interest rates. The Company also enters into interest rate swaps whereby the Company pays one floating rate and receives a different floating rate, or "basis swaps." The Company enters into credit default swaps. A credit default swap is a contract under which one party agrees to compensate another party for the financial loss associated with the occurrence of a "credit event" in relation to a "reference amount" or notional value of a "reference asset" (usually a bond, loan, or an index or basket of bonds or loans). The definition of a credit event may vary from contract to contract. A credit event may occur (i) when the reference asset (or underlying asset, in the case of a reference asset that is an index or basket) fails to make scheduled principal or interest payments to its holders, (ii) with respect to credit default swaps referencing mortgage/asset-backed securities and indices, when the reference asset (or underlying asset, in the case of a reference asset that is an index or basket) is downgraded below a certain rating level, or (iii) with respect to credit default swaps referencing corporate entities and indices, upon the bankruptcy of the obligor of the reference asset (or underlying obligor, in the case of a reference asset that is an index). The Company typically writes (sells) protection to take a "long" position with respect to the underlying reference assets, or purchases (buys) protection to take a "short" position with respect to the underlying reference assets or to hedge exposure to other investment holdings. The Company enters into total return swaps in order to take a "long" or "short" position with respect to an underlying reference asset. The Company is subject to market price volatility of the underlying reference asset. A total return swap involves commitments to pay interest in exchange for a market-linked return based on a notional value. To the extent that the total return of the corporate debt, security, group of securities or index underlying the transaction exceeds or falls short of the offsetting interest obligation, the Company will receive a payment from or make a payment to the counterparty. Swaps change in value with movements in interest rates, credit quality, or total return of the reference securities. During the term of swap contracts, changes in value are recognized as unrealized gains or losses on the Consolidated Statement of Operations. When a contract is terminated, the Company realizes a gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Company's basis in the contract, if any. Periodic payments or receipts required by swap agreements are recorded as unrealized gains or losses when accrued and realized gains or losses when received or paid. Upfront payments paid and/or received by the Company to open swap contracts are recorded as an asset and/or liability on the Consolidated Balance Sheet and are recorded as a realized gain or loss on the termination date. TBA Securities : The Company transacts in the forward settling TBA market. A TBA position is a forward contract for the purchase ("long position") or sale ("short position") of Agency RMBS at a predetermined price, face amount, issuer, coupon, and maturity on an agreed-upon future delivery date. For each TBA contract and delivery month, a uniform settlement date for all market participants is determined by the Securities Industry and Financial Markets Association. The specific Agency RMBS to be delivered into the contract at the settlement date are not known at the time of the transaction. The Company typically does not take delivery of TBAs, but rather enters into offsetting transactions and settles the associated receivable and payable balances with its counterparties. The Company uses TBAs to mitigate interest rate risk, usually by taking short positions. The Company also invests in TBAs as a means of acquiring additional exposure to Agency RMBS, or for speculative purposes, including holding long positions. TBAs are accounted for by the Company as financial derivatives. The difference between the forward contract price and the market value of the TBA position as of the reporting date is included in Unrealized gains (losses) on financial derivatives, net, on the Consolidated Statement of Operations. Futures Contracts : A futures contract is an exchange-traded agreement to buy or sell an asset for a set price on a future date. The Company enters into Eurodollar and/or U.S. Treasury security futures contracts to hedge its interest rate risk. The Company may also enter into various other futures contracts, including equity index futures and foreign currency futures. Initial margin deposits are made upon entering into futures contracts and can generally be either in the form of cash or securities. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by marking-to-market to reflect the current market value of the contract. Variation margin payments are made or received periodically, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Options : The Company may purchase or write put or call options contracts or enter into swaptions. The Company enters into options contracts typically to help mitigate overall market, credit, or interest rate risk depending on the type of options contract. However, the Company also enters into options contracts from time to time for speculative purposes. When the Company purchases an options contract, the option asset is initially recorded at an amount equal to the premium paid, if any, and is subsequently marked-to-market. Premiums paid for purchasing options contracts that expire unexercised are recognized on the expiration date as realized losses. If an options contract is exercised, the premium paid is subtracted from the proceeds of the sale or added to the cost of the purchase to determine whether the Company has realized a gain or loss on the related transaction. When the Company writes an options contract, the option liability is initially recorded at an amount equal to the premium received, if any, and is subsequently marked-to-market. Premiums received for writing options contracts that expire unexercised are recognized on the expiration date as realized gains. If an options contract is exercised, the premium received is subtracted from the cost of the purchase or added to the proceeds of the sale to determine whether the Company has realized a gain or loss on the related investment transaction. When the Company enters into a closing transaction, the Company will realize a gain or loss depending upon whether the amount from the closing transaction is greater or less than the premiums paid or received. The Company may also enter into options contracts that contain forward-settling premiums. In this case, no money is exchanged upfront. Instead, the agreed-upon premium is paid by the buyer upon expiration of the option, regardless of whether or not the option is exercised. Forward Currency Contracts : A forward currency contract is an agreement between two parties to purchase or sell a specific quantity of currency with the delivery and settlement at a specific future date and exchange rate. During the period the forward currency contract is open, changes in the value of the contract are recognized as unrealized gains or losses. When the contract is settled, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. : The Company enters into various types of financial derivatives. The Company's financial derivatives are predominantly subject to bilateral collateral arrangements or clearing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Company may be required to deliver or receive cash or securities as collateral upon entering into derivative transactions. In addition, changes in the relative value of derivative transactions may require the Company or the counterparty to post or receive additional collateral. In the case of cleared derivatives, the clearinghouse becomes the Company's counterparty and a futures commission merchant acts as an intermediary between the Company and the clearinghouse with respect to all facets of the related transaction, including the posting and receipt of required collateral. Cash collateral received by the Company is reflected on the Consolidated Statement of Assets, Liabilities, and Equity as "Due to Brokers." Conversely, cash collateral posted by the Company is reflected as "Due from Brokers" on the Consolidated Statement of Assets, Liabilities, and Equity. The major types of derivatives utilized by the Company are swaps, futures, options, and forwards. Swaps : The Company may enter into various types of swaps, including interest rate swaps, credit default swaps, and total return swaps. The primary risk associated with the Company's interest rate swap activity is interest rate risk. The primary risk associated with the Company's credit default swaps is credit risk and the primary risks associated with the Company's total return swap activity are equity market risk and credit risk. The Company is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Primarily to help mitigate interest rate risk, the Company enters into interest rate swaps. Interest rate swaps are contractual agreements whereby one party pays a floating interest rate on a notional principal amount and receives a fixed-rate payment on the same notional principal, or vice versa, for a fixed period of time. Interest rate swaps change in value with movements in interest rates. The Company enters into credit default swaps. A credit default swap is a contract under which one party agrees to compensate another party for the financial loss associated with the occurrence of a "credit event" in relation to a "reference amount" or notional value of a credit obligation (usually a bond, loan, or a basket of bonds or loans). The definition of a credit event may vary from contract to contract. A credit event may occur (i) when the underlying reference asset(s) fails to make scheduled principal or interest payments to its holders, (ii) with respect to credit default swaps referencing mortgage/asset-backed securities and indices, when the underlying reference obligation is downgraded below a certain rating level, or (iii) with respect to credit default swaps referencing corporate entities and indices, upon the bankruptcy of the underlying reference obligor. The Company typically writes (sells) protection to take a "long" position or purchases (buys) protection to take a "short" position with respect to underlying reference assets or to hedge exposure to other investment holdings. The Company enters into total return swaps in order to take a "long" or "short" position with respect to an underlying reference asset. The Company is subject to market price volatility of the underlying reference asset. A total return swap involves commitments to pay interest in exchange for a market-linked return based on a notional value. To the extent that the total return of the corporate debt, security, group of securities or index underlying the transaction exceeds or falls short of the offsetting interest obligation, the Company will receive a payment from or make a payment to the counterparty. Swaps change in value with movements in interest rates, credit quality, or total return of the reference securities. During the term of swap contracts, changes in value are recognized as unrealized gains or losses. When a contract is terminated, the Company realizes a gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Company's basis in the contract, if any. Periodic payments or receipts required by swap agreements are recorded as unrealized gains or losses when accrued and realized gains or losses when received or paid. Upfront payments paid and/or received by the Company to open swap contracts are recorded as an asset and/or liability on the Consolidated Statement of Assets, Liabilities, and Equity and are recorded as a realized gain or loss on the termination date. Futures Contracts : A futures contract is an exchange-traded agreement to buy or sell an asset for a set price on a future date. The Company enters into Eurodollar and/or U.S. Treasury security futures contracts to hedge its interest rate risk. The Company may also enter into various other futures contracts, including equity index futures and foreign currency futures. Initial margin deposits are made upon entering into futures contracts and can generally be either in the form of cash or securities. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by marking-to-market to reflect the current market value of the contract. Variation margin payments are made or received periodically, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Options : The Company may purchase or write put or call options contracts or enter into swaptions. The Company enters into options contracts typically to help mitigate overall market, credit, or interest rate risk depending on the type of options contract. However, the Company also enters into options contracts from time to time for speculative purposes. When the Company purchases an options contract, the option asset is initially recorded at an amount equal to the premium paid, if any, and is subsequently marked-to-market. Premiums paid for purchasing options contracts that expire unexercised are recognized on the expiration date as realized losses. If an options contract is exercised, the premium paid is subtracted from the proceeds of the sale or added to the cost of the purchase to determine whether the Company has realized a gain or loss on the related transaction. When the Company writes an options contract, the option liability is initially recorded at an amount equal to the premium received, if any, and is subsequently marked-to-market. Premiums received for writing options contracts that expire unexercised are recognized on the expiration date as realized gains. If an options contract is exercised, the premium received is subtracted from the cost of the purchase or added to the proceeds of the sale to determine whether the Company has realized a gain or loss on the related investment transaction. When the Company enters into a closing transaction, the Company will realize a gain or loss depending upon whether the amount from the closing transaction is greater or less than the premiums paid or received. The Company may also enter into options contracts that contain forward-settling premiums. In this case, no money is exchanged upfront. Instead the agreed-upon premium is paid by the buyer upon expiration of the option, regardless of whether or not the option is exercised. Forward Currency Contracts : A forward currency contract is an agreement between two parties to purchase or sell a specific quantity of currency with the delivery and settlement at a specific future date and exchange rate. During the period the forward currency contract is open, changes in the value of the contract are recognized as unrealized gains or losses. When the contract is settled, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Commitments to Purchase Residential Mortgage Loans : The Company has entered into forward purchase commitments under flow agreements, whereby the Company commits to purchasing the loans based on pre-defined underwriting guidelines and at stated interest rates. Actual loan purchases are contingent upon successful loan closings. These commitments to purchase mortgage loans are classified as derivatives on the Company's Consolidated Statement of Assets, Liabilities, and Equity and are, therefore, recorded as assets or liabilities measured at fair value. Until the purchase commitment expires or the underlying loan closes, changes in the estimated fair value of such commitments are recognized as unrealized gains or losses in the Consolidated Statement of Operations. Financial derivatives disclosed on the Consolidated Condensed Schedule of Investments include: credit default swaps on asset-backed securities, credit default swaps on asset-backed indices, credit default swaps on corporate bond indices, credit default swaps on corporate bonds, interest rate swaps, total return swaps, futures contracts, foreign currency forwards, options contracts. Financial derivative assets are included in Financial derivatives—assets, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. Financial derivative liabilities are included in Financial derivatives—liabilities, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. In addition, financial derivative contracts are summarized by type on the Consolidated Condensed Schedule of Investments.
Cash and Cash Equivalents	Cash and Cash Equivalents : Cash and cash equivalents include cash and short term investments with original maturities of three months or less at the date of acquisition. Cash and cash equivalents typically include amounts held in interest bearing overnight accounts and amounts held in money market funds, and these balances generally exceed insured limits. The Company holds its cash at institutions that it believes to be highly creditworthy. Restricted cash represents cash that the Company can use only for specific purposes. See Note 18 for further discussion of restricted cash balances. : Cash and cash equivalents include cash and short term investments with original maturities of three months or less at the date of acquisition. Cash and cash equivalents typically include amounts held in an interest bearing overnight account and amounts held in money market funds, and these balances generally exceed insured limits. The Company holds its cash at institutions that it believes to be highly creditworthy. Restricted cash represents cash that the Company can use only for specific purposes. The Company's investments in money market funds are included in the Consolidated Condensed Schedule of Investments. See Note 15 for further discussion of restricted cash balances.
Transfers of Financial Assets	Transfers of Financial Assets : The Company enters into transactions whereby it transfers financial assets to third parties. Upon such a transfer of financial assets, the Company will sometimes retain or acquire interests in the related assets. The Company evaluates transferred assets pursuant to ASC 860-10, Transfers of Financial Assets , or "ASC 860-10," which requires that a determination be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor's continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. When a transfer of financial assets does not qualify as a sale, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral. ASC 860-10 is a standard that requires the Company to exercise significant judgment in determining whether a transaction should be recorded as a "sale" or a "financing." : The Company enters into transactions whereby it transfers financial assets to third parties. Upon such a transfer of financial assets, the Company will sometimes retain or acquire interests in the related assets. The Company evaluates transferred assets pursuant to ASC 860-10, Transfers of Financial Assets , or "ASC 860-10," which requires that a determination be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor's continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. When a transfer of financial assets does not qualify as a sale, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral. ASC 860-10 is a standard that requires the Company to exercise significant judgment in determining whether a transaction should be recorded as a "sale" or a "financing."
Variable Interest Entities	Variable Interest Entities : VIEs are entities in which: (i) the equity investors do not have the characteristics of a controlling financial interest, or (ii) there is insufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties. Consolidation of a VIE is required by the entity that is deemed to be the primary beneficiary of the VIE. The Company evaluates all of its interests in VIEs for consolidation under ASC 810. The primary beneficiary is generally the party with both (i) the power to direct the activities of the VIE that most significantly impact its economic performance, and (ii) the obligation to absorb losses and the right to receive benefits from the VIE which could be potentially significant to the VIE. When the Company has an interest in an entity that has been determined to be a VIE, the Company assesses whether it is deemed to be the primary beneficiary of the VIE. The Company will only consolidate a VIE for which it has concluded it is the primary beneficiary. To assess whether the Company has the power to direct the activities of a VIE that most significantly impact the VIE's economic performance, the Company considers all facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes (i) identifying the activities that most significantly impact the VIE's economic performance; and (ii) identifying which party, if any, has power over those activities. To assess whether the Company has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, it considers all of its economic interests, including debt and/or equity investments, as well as other arrangements deemed to be variable interests in the VIE. These assessments to determine whether the Company is the primary beneficiary require significant judgment. In instances where the Company and its related parties have interests in a VIE, the Company considers whether there is a single party in the related party group that meets the criteria to be deemed the primary beneficiary. If one party within the related party group meets such criteria, that reporting entity would be deemed to be the primary beneficiary of the VIE and no further analysis is needed. If no party within the related party group on its own meets the criteria to be deemed the primary beneficiary, but the related party group as a whole meets such criteria, the determination of the primary beneficiary within the related party group requires significant judgment. The Company performs analysis which is based upon qualitative as well as quantitative factors, such as the relationship of the VIE to each of the members of the related party group, as well as the significance of the VIE's activities to those members, with the objective of determining which party is most closely associated with the VIE. The Company performs ongoing reassessments of (i) whether any entities previously evaluated have become VIEs, based on certain events, and therefore subject to assessment to determine whether consolidation is appropriate, and (ii) whether changes in the facts and circumstances regarding the Company's involvement with a VIE causes its consolidation conclusion regarding the VIE to change. See Note 9 and Note 13 for further information on the Company's consolidated VIEs. The Company's maximum amount at risk is generally limited to the Company's investment in the VIE. The Company is generally not contractually required to provide and has not provided any form of financial support to the VIEs. The Company holds beneficial interests in certain securitization trusts that are considered VIEs. The beneficial interests in these securitization trusts are represented by certificates issued by the trusts. The securitization trusts have been structured as pass-through entities that receive principal and interest payments on the underlying collateral and distribute those payments to the certificate holders, which include both third-party investors and the Company. The certificates held by the Company typically include some or all of the most subordinated tranches. The assets held by the trusts are restricted in that they can only be used to fulfill the obligations of the related trust. In certain cases, the design and structure of the securitization trust is such that the Company effectively retains control of the assets as well as the activities that most significantly impact the economic performance of the trust. In such cases, the Company is determined to be the primary beneficiary, and the Company consolidates the trust and all intercompany transactions are eliminated in consolidation. In cases where the Company does not effectively retain control of the assets of, or have the power to direct the activities that most significantly impact the economic performance of, the related trust, it does not consolidate the trust. See Note 10 for further discussion of the Company's securitization trusts. : VIEs are entities in which: (i) the equity investors do not have the characteristics of a controlling financial interest, or (ii) there is insufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties. The Company holds beneficial interests in securitization trusts that are considered VIEs. The beneficial interests in these securitization trusts are represented by certificates issued by the trusts. The securitization trusts have been structured as pass-through entities that receive principal and interest payments on the underlying collateral and distribute those payments to the certificate holders, which include both third-party investors and the Company. The certificates held by the Company typically include some or all of the most subordinated tranches. The assets held by the trusts are restricted in that they can only be used to fulfill the obligations of the related trust. In certain cases the design and structure of the securitization trust is such that the Company effectively retains control of the assets as well as the activities that most significantly impact the economic performance of the trust; in such cases the trust is considered a direct extension of the Company's business, and the Company consolidates the trust. In cases where the Company does not effectively retain control of the assets of, or the activities that most significantly impact the economic performance of, the related trust, it does not consolidate the trust. See Note 6 for further discussion of the Company's securitization trusts.
When-Issued/Delayed Delivery Securities	When-Issued/Delayed Delivery Securities : The Company may purchase or sell securities on a when-issued or delayed delivery basis. Securities purchased or sold on a when-issued basis are traded for delivery beyond the normal settlement date at a stated price or yield, and no income accrues to the purchaser prior to settlement. Purchasing or selling securities on a when-issued or delayed delivery basis involves the risk that the market price or yield at the time of settlement may be lower or higher than the agreed-upon price or yield, in which case a realized loss may be incurred.
Investments in Operating Entities	Investments in Operating Entities : The Company has made and may in the future make non-controlling investments in operating entities such as loan originators. Investments in such operating entities may be in the form of preferred and/or common equity, debt, or some other form of investment. The Company carries its investments in such entities at fair value. In cases where the operating entity provides services to the Company, the Company is required to use the equity method of accounting.
Offering Costs/Underwriters' Discount	Offering Costs/Underwriters' Discount : :
Debt Issuance Costs	Debt Issuance Costs : Debt issuance costs associated with debt for which the Company has elected the FVO are expensed at the issuance of the debt, and are included in Investment related expenses—Other on the Consolidated Statement of Operations. Costs associated with the issuance of debt for which the Company has not elected the FVO are deferred and amortized over the life of the debt, which approximates the effective interest rate method, and are included in Interest expense on the Consolidated Statement of Operations. Deferred debt issuance costs are presented on the Consolidated Balance Sheet as a direct deduction from the related debt liability, unless such deferred debt issuance costs are associated with borrowing facilities that are expected to have a future benefit, such as giving the Company the ability to access additional borrowings over the contractual term of the debt, in which case such deferred debt issuance costs are included in Other assets on the Consolidated Balance Sheet. Debt issuance costs include legal and accounting fees, purchasers' or underwriters' discount, as well as other fees associated with the cost of the issuance of the related debt. : Debt issuance costs associated with debt for which the Company has elected the fair value option are expensed at the issuance of the debt, and are included in Other investment related expenses on the Consolidated Statement of Operations. Costs associated with the issuance of debt for which the Company has not elected the fair value option are amortized over the life of the debt, which approximates the effective interest rate method, and are included in Interest expense on the Consolidated Statement of Operations. Deferred debt issuance costs are presented on the Consolidated Statement of Assets, Liabilities, and Equity as a direct deduction from the related debt liability, unless such deferred debt issuance costs are associated with borrowing facilities that are expected to have a future benefit, such as giving the Company the ability to access additional borrowings over the contractual term of the debt, in which case such deferred debt issuance costs are included in Other Assets on Consolidated Statement of Assets, Liabilities, and Equity. Debt issuance costs include legal and accounting fees, purchasers' or underwriters' discount, as well as other fees associated with the cost of the issuance of the related debt.
Expenses	Expenses : Expenses are recognized as incurred on the Consolidated Statement of Operations. : Expenses are recognized as incurred on the Consolidated Statement of Operations.
Investment Related Expenses	Investment Related Expenses : Investment related expenses consist of expenses directly related to specific financial instruments. Such expenses generally include dividend expense on common stock sold short, servicing fees and corporate and escrow advances on mortgage and consumer loans, and various other expenses and fees related directly to the Company's financial instruments. The Company has elected the FVO for its investments, and as a result all investment related expenses are expensed as incurred and included in Investment related expenses on the Consolidated Statement of Operations. : Other investment related expenses consist of expenses directly related to specific financial instruments. Such expenses generally include dividend expense on common stock sold short, servicing fees and corporate and escrow advances on mortgage and consumer loans, and various other expenses and fees related directly to the Company's financial instruments. Other investment related expenses are recognized as incurred on the Consolidated Statement of Operations; dividend expense on common stock sold short is recognized on the ex-dividend date.
LTIP Units	Long Term Incentive Plan Units : Long term incentive plan units of the Operating Partnership ("OP LTIP Units") have been issued to the Company's dedicated or partially dedicated personnel and certain of its directors as well as the Manager. Costs associated with OP LTIP Units issued to dedicated or partially dedicated personnel, or to the Company's directors, are measured as of the grant date based on the Company's closing stock price on the New York Stock Exchange and are amortized over the vesting period in accordance with ASC 718-10, Compensation—Stock Compensation . The vesting periods for OP LTIP Units are typically one year from issuance for non-executive directors, and are typically one year to two years from issuance for dedicated or partially dedicated personnel. : Long term incentive plan units of the Company ("LTIP Units") and long term incentive plan units of the Operating Partnership ("OP LTIP Units") have been issued to the Company's dedicated or partially dedicated personnel and certain of its directors as well as the Manager. Costs associated with LTIP Units and OP LTIP Units issued to dedicated or partially dedicated personnel, or to its directors, are measured as of the grant date based on the closing stock price on the New York Stock Exchange and are amortized over the vesting period in accordance with ASC 718-10, Compensation—Stock Compensation . The vesting periods for LTIP Units and OP LTIP Units are typically one year from issuance for directors, and are typically one year to two years from issuance for dedicated or partially dedicated personnel.
Non-controlling interest	Non-controlling interests : Non-controlling interests include interests in the Operating Partnership represented by units convertible into shares of the Company's common stock ("Convertible Non-controlling Interests"). Convertible Non-controlling Interests include both the OP LTIP Units and those common units ("OP Units") of the Operating Partnership not held by the Company (collectively, the "Convertible Non-controlling Interest Units"). Non-controlling interests also include the interests of joint venture partners in certain of our consolidated subsidiaries. The joint venture partners' interests are not convertible into shares of the Company's common stock. The Company adjusts the Convertible Non-controlling Interests to align their carrying value with their share of total outstanding Operating Partnership units, including both the OP Units held by the Company and the Convertible Non-controlling Interests. Any such adjustments are reflected in Adjustment to non-controlling interests, on the Consolidated Statement of Changes in Equity. See Note 15 for further discussion of non-controlling interests. Non-controlling interests : Non-controlling interests include interests in the Operating Partnership represented by units convertible into the Company's common shares ("Convertible Non-controlling Interests"). Convertible Non-controlling Interests include both the OP LTIP Units and those common units ("OP Units") of the Operating Partnership not held by the Company. Non-controlling interests also include the interests of joint venture partners in certain of our consolidated subsidiaries. The joint venture partners' interests are not convertible into the Company's common shares. The Company adjusts the Convertible Non-controlling Interests to align their carrying value with their share of total outstanding Operating Partnership units, including both the OP Units held by the Company and the Convertible Non-controlling Interests. Any such adjustments are reflected in "Adjustment to non-controlling interest" on the Consolidated Statement of Changes in Equity. See Note 11 for further discussion of non-controlling interests.
Dividends	Dividends : Dividends payable on shares of common stock and Convertible Non-controlling Interest Units are recorded on the declaration date. : Dividends payable by the Company are recorded on the ex-dividend date. Dividends are typically declared and paid on a quarterly basis in arrears.
Shares Repurchased	Shares Repurchased : Shares of common stock that are repurchased by the Company subsequent to issuance are immediately retired upon settlement and decrease the total number of shares of common stock issued and outstanding. The cost of such repurchases is charged against Additional paid-in-capital on the Company's Consolidated Balance Sheet. : Common shares that are repurchased by the Company subsequent to issuance are immediately retired upon settlement and decrease the total number of shares outstanding and issued.
Earnings Per Share ("EPS")	Earnings Per Share ("EPS") : Basic EPS is computed using the two class method by dividing net income (loss) after adjusting for the impact of Convertible Non-controlling Interests which are participating securities, by the weighted average number of shares of common stock outstanding calculated including Convertible Non-controlling Interests. Because the Company's Convertible Non-controlling Interests are participating securities, they are included in the calculation of both basic and diluted EPS. : Basic EPS is computed using the two class method by dividing net increase (decrease) in shareholders' equity resulting from operations after adjusting for the impact of LTIP Units which are participating securities, by the weighted average number of common shares outstanding calculated including LTIP Units. Because the Company's LTIP Units are participating securities, they are included in the calculation of basic and diluted EPS. Convertible Non-controlling Interests are also participating securities and, accordingly, are included in the calculation of both basic and diluted EPS.
Foreign Currency	Foreign Currency : The functional currency of the Company is U.S. dollars. Assets and liabilities denominated in foreign currencies are remeasured into U.S. dollars at current exchange rates at the following dates: (i) assets, liabilities, and unrealized gains/losses—at the valuation date; and (ii) income, expenses, and realized gains/losses—at the accrual/transaction date. The Company isolates the portion of realized and change in unrealized gain (loss) resulting from changes in foreign currency exchange rates on investments and financial derivatives from the fluctuations arising from changes in fair value of investments and financial derivatives held. Changes in realized and change in unrealized gain (loss) due to foreign currency are included in Other, net, on the Consolidated Statement of Operations. The Company's reporting currency is U.S. Dollars. If the Company has investments in unconsolidated entities that have a functional currency other than U.S. Dollars, the fair value is translated to U.S. dollars using the current exchange rate at the valuation date. The cumulative translation adjustment, if any, associated with the Company's investments in unconsolidated entities is recorded in accumulated other comprehensive income (loss), a component of consolidated stockholders' equity. : Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at current exchange rates at the following dates: (i) assets, liabilities, and unrealized gains/losses—at the valuation date; and (ii) income, expenses, and realized gains/losses—at the accrual/transaction date. The Company isolates the portion of realized and change in unrealized gain (loss) resulting from changes in foreign currency exchange rates on investments and financial derivatives from the fluctuations arising from changes in fair value of investments and financial derivatives held. Changes in realized and change in unrealized gain (loss) due to foreign currency are included in Foreign currency transactions and Foreign currency translation, respectively, on the Consolidated Statement of Operations.
Income Taxes	Income Taxes : The Company will elect to be taxed as a REIT under Sections 856 through 860 of the Code. As a REIT, the Company is generally not subject to corporate-level federal and state income tax on net income it distributes to its stockholders within the prescribed timeframes. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including distributing at least 90% of its annual taxable income to stockholders. Even if the Company qualifies as a REIT, it may be subject to certain federal, state, local and foreign taxes on its income and property, and to federal income and excise taxes on its undistributed taxable income. If the Company fails to qualify as a REIT, and does not qualify for certain statutory relief provisions, it will be subject to U.S. federal, state, and local income taxes and may be precluded from qualifying as a REIT for the four taxable years following the year in which the Company fails to qualify as a REIT. The Company believes that commencing on January 1, 2019, the Company was organized in conformity with the requirements for qualification and taxation as a REIT under the U.S. federal income tax laws and that its manner of operation enables it to meet the requirements for qualification and taxation as a REIT. As a result of Ellington Financial Inc.'s expected REIT qualification and expected distributions, it does not generally expect to pay federal or state corporate income taxes. Many of the REIT requirements, however, are highly technical and complex. As a REIT, if the Company fails to distribute in any calendar year (subject to specific timing rules for certain dividends paid in January) at least the sum of (i) 85% of its ordinary income for such year, (ii) 95% of its capital gain net income for such year, and (iii) any undistributed taxable income from the prior year, the Company would be subject to a non-deductible 4% excise tax on the excess of such required distribution over the sum of (i) the amounts actually distributed and (ii) the amounts of income retained and on which the Company has paid corporate income tax. The Company elected to treat certain domestic and foreign subsidiaries as TRSs, and may in the future elect to treat other current or future subsidiaries as TRSs. In general, a TRS may hold assets and engage in activities that the Company cannot hold or engage in directly and generally may engage in any real estate or non-real estate-related business. A domestic TRS may, but is not required to, declare dividends to the Company; such dividends will be included in the Company's taxable income/(loss) and may necessitate a distribution to the Company's stockholders. Conversely, if the Company retains earnings at the level of a domestic TRS, such earnings will increase the book equity of the consolidated entity. A domestic TRS is subject to U.S. federal, state, and local corporate income taxes. The Company has elected and may elect in the future to treat certain of its foreign corporate subsidiaries as TRSs and, accordingly, taxable income generated by these TRSs may not be subject to U.S. federal, state, and local corporate income taxation, but generally will be included in the Company's income on a current basis as Subpart F income, whether or not distributed. However, certain of the Company's foreign subsidiaries may be subject to income taxes in the relevant foreign jurisdictions. The Company's financial results are generally not expected to reflect provisions for current or deferred income taxes, except for any activities conducted through one or more TRSs that are subject to corporate income taxation. : The Company is treated as a partnership for U.S. federal income tax purposes. Certain of the Company's subsidiaries are not consolidated for U.S. federal income tax purposes, but are also treated as partnerships. In general, partnerships are not subject to entity-level tax on their income, but the income of a partnership is taxable to its owners on a flow-through basis. In addition, certain subsidiaries of the Company have elected to be treated as corporations for U.S. federal income tax purposes, and one has elected to be taxed as a real estate investment trust, or "REIT." The Company follows the authoritative guidance on accounting for and disclosure of uncertainty on tax positions, which requires management to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For uncertain tax positions, the tax benefit to be recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company did not have any additions to unrecognized tax benefits resulting from tax positions related either to the current period or to 2017, 2016, or 2015 (its open tax years), and no reductions resulting from tax positions of prior years or due to settlements, and thus had no unrecognized tax benefits or reductions since inception. The Company does not expect any change in unrecognized tax benefits within the next fiscal year. There were no amounts accrued for tax penalties or interest as of or during the periods presented in these consolidated financial statements. The Company may take positions with respect to certain tax issues which depend on legal interpretation of facts or applicable tax regulations. Should the relevant tax regulators successfully challenge any of such positions, the Company might be found to have a tax liability that has not been recorded in the accompanying consolidated financial statements. Also, management's conclusions regarding ASC 740-10 may be subject to review and adjustment at a later date based on factors including, but not limited to, further implementation guidance from the Financial Accounting Standards Board, or "FASB," and ongoing analyses of tax laws, regulations and interpretations thereof.
Recent Accounting Pronouncements	Recent Accounting Pronouncements : In August 2018, the Financial Accounting Standards Board, or "FASB," issued ASU 2018-13, Fair Value Measurement—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). This amends ASC 820 to remove or modify various current disclosure requirements related to fair value measurement. Additionally, ASU 2018-13 requires certain additional disclosures around fair value measurement. ASU 2018-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those years, with early adoption permitted. Entities are permitted to early adopt any removed or modified disclosures and delay adoption of the additional disclosures until their effective date. The Company has elected to early adopt the removal and modification of various disclosure requirements in accordance with ASU 2018-13; early adoption has not had a material impact on the Company's consolidated financial statements. The Company has elected not to early adopt the additional disclosure requirements. The adoption of the additional disclosure requirements, as required under ASU 2018-13, is not expected to have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses : In August 2018, the Financial Accounting Standards Board, or "FASB," issued ASU 2018-13, Fair Value Measurement—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). This amends ASC 820, Fair Value Measurement , to remove or modify various current disclosure requirements related to fair value measurement. Additionally ASU 2018-13 requires certain additional disclosures around fair value measurement. ASU 2018-13 is effective for annual periods beginning after December 15, 2019 and interim periods within those years, with early adoption permitted. Entities are permitted to early adopt any removed or modified disclosures and delay adoption of the additional disclosures until their effective date. The Company has elected to early adopt the removal and modification of various disclosure requirements in accordance with ASU 2018-13; early adoption has not had a material impact on the Company's consolidated financial statements. The Company has elected not to early adopt the additional disclosure requirements. The adoption of additional disclosures, as required under ASU 2018-13, is not expected to have a material impact on the Company's consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation—Improvements to Nonemployee Share-Based Payment Accounting ("ASU 2018-07"). This amends ASC 718, Compensation—Stock Compensation , to simplify several aspects of accounting for nonemployee share-based payment transactions. ASU 2018-07 is effective for annual periods beginning after December 15, 2019 and interim periods beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2018-07 is not expected to have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows—Restricted Cash ("ASU 2016-18"). This amends ASC 230, Statement of Cash Flows , to require that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash and restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 became effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The adoption of ASU 2016-18 did not have a material impact on the Company's consolidated financial statements.
Financial Assets Sold under Agreement to Repurchase [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase and Resale Agreements	Repurchase Agreements : The Company enters into repurchase agreements with third-party broker-dealers whereby it sells securities under agreements to be repurchased at an agreed-upon price and date. The Company accounts for repurchase agreements as collateralized borrowings, with the initial sale price representing the amount borrowed, and with the future repurchase price consisting of the amount borrowed plus interest, at the implied interest rate of the repurchase agreement, on the amount borrowed over the term of the repurchase agreement. The interest rate on a repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. When the Company enters into a repurchase agreement, the lender establishes and maintains an account containing cash and/or securities having a value not less than the repurchase price, including accrued interest, of the repurchase agreement. Repurchase agreements are carried at their contractual amounts, which approximate fair value as the debt is short-term in nature. : The Company enters into reverse repurchase agreements with third-party broker-dealers whereby it sells securities under agreements to be repurchased at an agreed-upon price and date. The Company accounts for reverse repurchase agreements as collateralized borrowings, with the initial sale price representing the amount borrowed, and with the future repurchase price consisting of the amount borrowed plus interest, at the implied interest rate of the reverse repurchase agreement, on the amount borrowed over the term of the reverse repurchase agreement. The interest rate on a reverse repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. When the Company enters into a reverse repurchase agreement, the lender establishes and maintains an account containing cash and/or securities having a value not less than the repurchase price, including accrued interest, of the reverse repurchase agreement. Reverse repurchase agreements are carried at their contractual amounts, which approximate fair value as the debt is short-term in nature.
Securities Purchased under Agreements to Resell [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase and Resale Agreements	Reverse Repurchase Agreements : The Company enters into reverse repurchase agreement transactions whereby it purchases securities under agreements to resell at an agreed-upon price and date. In general, securities received pursuant to reverse repurchase agreements are delivered to counterparties of short sale transactions. The interest rate on a reverse repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. Assets held pursuant to reverse repurchase agreements are reflected as assets on the Consolidated Balance Sheet. Reverse repurchase agreements are carried at their contractual amounts, which approximates fair value due to their short-term nature. Repurchase and reverse repurchase agreements that are conducted with the same counterparty may be reported on a net basis if they meet the requirements of ASC 210-20, Balance Sheet Offsetting . There are no repurchase and reverse repurchase agreements reported on a net basis in the Company's consolidated financial statements. : The Company enters into repurchase agreement transactions whereby it purchases securities under agreements to resell at an agreed-upon price and date. In general, securities received pursuant to repurchase agreements are delivered to counterparties of short sale transactions. The interest rate on a repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. Assets held pursuant to repurchase agreements are reflected as assets on the Consolidated Statement of Assets, Liabilities, and Equity. Repurchase agreements are carried at fair value based on their contractual amounts as the debt is short-term in nature. Repurchase and reverse repurchase agreements that are conducted with the same counterparty may be reported on a net basis if they meet the requirements of ASC 210-20, Balance Sheet Offsetting . There are no repurchase and reverse repurchase agreements reported on a net basis in the Company's consolidated financial statements.

Valuation (Tables)

Valuation (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments that are measured at fair value on a recurring basis as of December 31, 2019 : Description Level 1 Level 2 Level 3 Total (In thousands) Assets: Securities, at fair value: Agency RMBS $ — $ 1,917,059 $ 19,904 $ 1,936,963 Non-Agency RMBS — 76,969 89,581 166,550 CMBS — 95,063 29,805 124,868 CLOs — 125,464 44,979 170,443 Asset-backed securities, backed by consumer loans — — 48,610 48,610 Corporate debt securities — — 1,113 1,113 Corporate equity securities — — 1,394 1,394 Loans, at fair value: Residential mortgage loans — — 932,203 932,203 Commercial mortgage loans — — 274,759 274,759 Consumer loans — — 186,954 186,954 Corporate loans — — 18,510 18,510 Investment in unconsolidated entities, at fair value — — 71,850 71,850 Financial derivatives–assets, at fair value: Credit default swaps on asset-backed securities — — 993 993 Credit default swaps on asset-backed indices — 3,319 — 3,319 Credit default swaps on corporate bonds — 2 — 2 Credit default swaps on corporate bond indices — 5,599 — 5,599 Interest rate swaps — 5,468 — 5,468 TBAs — 596 — 596 Total return swaps — — 620 620 Futures 148 — — 148 Forwards — 43 — 43 Total assets $ 148 $ 2,229,582 $ 1,721,275 $ 3,951,005 Liabilities: Securities sold short, at fair value: Government debt $ — $ (72,938 ) $ — $ (72,938 ) Corporate debt securities — (471 ) — (471 ) Financial derivatives–liabilities, at fair value: Credit default swaps on asset-backed indices — (250 ) — (250 ) Credit default swaps on corporate bonds — (1,693 ) — (1,693 ) Credit default swaps on corporate bond indices — (14,524 ) — (14,524 ) Interest rate swaps — (8,719 ) — (8,719 ) TBAs — (1,012 ) — (1,012 ) Futures (45 ) — — (45 ) Forwards — (169 ) — (169 ) Total return swaps — (773 ) (436 ) (1,209 ) Other secured borrowings, at fair value — — (594,396 ) (594,396 ) Total liabilities $ (45 ) $ (100,549 ) $ (594,832 ) $ (695,426 ) The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at December 31, 2018: Description Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents $ 12,460 $ — $ — $ 12,460 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,442,924 $ 7,293 $ 1,450,217 U.S. Treasury securities — 76 — 76 Private label residential mortgage-backed securities — 211,348 91,291 302,639 Private label commercial mortgage-backed securities — 33,105 803 33,908 Commercial mortgage loans — — 211,185 211,185 Residential mortgage loans — — 496,830 496,830 Collateralized loan obligations — 108,978 14,915 123,893 Consumer loans and asset-backed securities backed by consumer loans — — 206,761 206,761 Corporate debt — 16,074 6,318 22,392 Secured notes — — 10,917 10,917 Real estate owned — — 34,500 34,500 Common stock 2,200 — — 2,200 Corporate equity investments — — 43,793 43,793 Total investments, at fair value 2,200 1,812,505 1,124,606 2,939,311 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 1,472 1,472 Credit default swaps on corporate bond indices — 733 — 733 Credit default swaps on corporate bonds — 2,473 — 2,473 Credit default swaps on asset-backed indices — 8,092 — 8,092 Total return swaps — 1 — 1 Interest rate swaps — 7,224 — 7,224 Forwards — 6 — 6 Total financial derivatives–assets, at fair value — 18,529 1,472 20,001 Repurchase agreements, at fair value — 61,274 — 61,274 Total investments, financial derivatives–assets, and repurchase agreements, at fair value $ 2,200 $ 1,892,308 $ 1,126,078 $ 3,020,586 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (772,964 ) $ — $ (772,964 ) Government debt — (54,151 ) — (54,151 ) Corporate debt — (6,529 ) — (6,529 ) Common stock (16,933 ) — — (16,933 ) Total investments sold short, at fair value (16,933 ) (833,644 ) — (850,577 ) Description Level 1 Level 2 Level 3 Total (continued) (In thousands) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices $ — $ (11,557 ) $ — $ (11,557 ) Credit default swaps on corporate bonds — (3,246 ) — (3,246 ) Credit default swaps on asset-backed indices — (2,125 ) — (2,125 ) Interest rate swaps — (3,397 ) — (3,397 ) Total return swaps — (6 ) — (6 ) Futures (355 ) — — (355 ) Forwards — (120 ) — (120 ) Total financial derivatives–liabilities, at fair value (355 ) (20,451 ) — (20,806 ) Other secured borrowings, at fair value — — (297,948 ) (297,948 ) Total investments sold short, financial derivatives–liabilities, and other secured borrowings, at fair value $ (17,288 ) $ (854,095 ) $ (297,948 ) $ (1,169,331 )
Schedule of Financial Instruments	The following table summarizes the estimated fair value of all other financial instruments not measured at fair value on a recurring basis as of December 31, 2019 : (In thousands) Fair Value Carrying Value Other financial instruments Assets: Cash and cash equivalents $ 72,302 $ 72,302 Restricted cash 175 175 Due from brokers 79,829 79,829 Reverse repurchase agreements 73,639 73,639 Liabilities: Repurchase agreements 2,445,300 2,445,300 Other secured borrowings 150,334 150,334 Senior notes, net 88,365 85,298 Due to brokers 2,197 2,197 Cash and cash equivalents generally includes cash held in interest bearing overnight accounts, for which fair value equals the carrying value, and investments which are liquid in nature, such as investments in money market accounts or U.S. Treasury Bills, for which fair value equals the carrying value; such assets are considered Level 1. Restricted cash includes cash held in a segregated account for which fair value equals the carrying value; such assets are considered Level 1. Due from brokers and Due to brokers include collateral transferred to or received from counterparties, along with receivables and payables for open and/or closed derivative positions. These receivables and payables are short term in nature and any collateral transferred consists primarily of cash; fair value of these items is approximated by carrying value and such items are considered Level 1. The Company's reverse repurchase agreements, repurchase agreements, and other secured borrowings are carried at cost, which approximates fair value due to their short term nature. Reverse repurchase agreements, repurchase agreements, and other secured borrowings are classified as Level 2 based on the adequacy of the collateral and their short term nature. The Senior notes are considered Level 3 liabilities given the relative unobservability of the most significant inputs to valuation estimation as well as the lack of trading activity of these instruments. As of December 31, 2019 , the estimated fair value of the Company's Senior notes was based on a third-party valuation.
Schedule of Significant Unobservable Inputs, Qualitative Information	The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2019 : Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Non-Agency RMBS $ 38,754 Market Quotes Non Binding Third-Party Valuation $ 6.68 $ 144.79 $ 86.21 CMBS 29,630 Market Quotes Non Binding Third-Party Valuation 5.08 80.72 64.73 CLOs 38,220 Market Quotes Non Binding Third-Party Valuation 40.00 96.00 73.98 Agency interest only RMBS 3,753 Market Quotes Non Binding Third-Party Valuation 1.36 16.61 5.11 Corporate loans 6,010 Market Quotes Non Binding Third-Party Valuation 100.00 100.00 100.00 ABS backed by consumer loans 139 Market Quotes Non Binding Third-Party Valuation 95.47 96.78 96.12 Non-Agency RMBS 50,827 Discounted Cash Flows Yield 3.3 % 60.9 % 10.0 % Projected Collateral Prepayments 0.8 % 72.0 % 49.3 % Projected Collateral Losses 0.0 % 22.7 % 6.6 % Projected Collateral Recoveries 0.0 % 32.4 % 6.9 % Projected Collateral Scheduled Amortization 16.9 % 92.9 % 37.2 % 100.0 % Non-Agency CMBS 175 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % Projected Collateral Prepayments 100.0 % 100.0 % 100.0 % 100.0 % Corporate debt and equity 2,507 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % CLOs 6,759 Discounted Cash Flows Yield 14.0 % 41.9 % 26.2 % Projected Collateral Prepayments 48.5 % 84.6 % 72.5 % Projected Collateral Losses 11.7 % 36.4 % 19.9 % Projected Collateral Recoveries 3.7 % 15.1 % 7.6 % 100.0 % ABS backed by consumer loans 48,471 Discounted Cash Flows Yield 12.0 % 20.2 % 12.1 % Projected Collateral Prepayments 0.0 % 11.2 % 9.7 % Projected Collateral Losses 0.6 % 18.0 % 15.4 % Projected Collateral Scheduled Amortization 71.3 % 99.4 % 74.9 % 100.0 % (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Consumer loans $ 186,954 Discounted Cash Flows Yield 7.0 % 10.0 % 8.1 % Projected Collateral Prepayments 0.0 % 44.2 % 16.0 % Projected Collateral Losses 3.0 % 84.5 % 8.6 % Projected Collateral Scheduled Amortization 15.5 % 95.8 % 75.4 % 100.0 % Corporate loans 12,500 Discounted Cash Flows Yield 15.0 % 18.0 % 16.8 % Performing commercial mortgage loans 248,214 Discounted Cash Flows Yield 7.7 % 16.6 % 8.8 % Non-performing commercial mortgage loans 26,545 Discounted Cash Flows Yield 9.8 % 14.7 % 12.4 % Months to Resolution 1.1 23.0 11.4 Performing and re-performing residential mortgage loans 289,672 Discounted Cash Flows Yield 1.6 % 19.5 % 6.2 % Securitized residential mortgage loans (1)(2) 628,415 Discounted Cash Flows Yield 3.2 % 4.3 % 3.6 % Non-performing residential mortgage loans 14,116 Discounted Cash Flows Yield 1.0 % 26.6 % 9.1 % Months to Resolution 1.1 165.4 54.6 Total return swaps—asset 620 Discounted Cash Flows Yield 8.5 % 27.7 % 11.5 % Credit default swaps on asset-backed securities 993 Net Discounted Cash Flows Projected Collateral Prepayments 35.4 % 42.0 % 37.3 % Projected Collateral Losses 4.2 % 12.4 % 10.2 % Projected Collateral Recoveries 10.0 % 18.2 % 15.3 % Projected Collateral Scheduled Amortization 36.2 % 41.5 % 37.2 % 100.0 % Agency interest only RMBS 16,151 Option Adjusted Spread ("OAS") LIBOR OAS (3) 93 3,527 701 Projected Collateral Prepayments 12.3 % 100.0 % 72.3 % Projected Collateral Scheduled Amortization 0.0 % 87.7 % 27.7 % 100.0 % Investment in unconsolidated entities 41,392 Enterprise Value Equity Price-to-Book (4) 1.0x 4.7x 1.7x Investment in unconsolidated entities 30,458 Discounted Cash Flows Yield (5) 3.7% 14.8% 9.9% Other secured borrowings, at fair value (1) (594,396 ) Discounted Cash Flows Yield 2.9% 4.0% 3.3% Total return swaps—liability (436 ) Discounted Cash Flows Yield 27.7% 27.7% 27.7% (1) Securitized residential mortgage loans and Other secured borrowings, at fair value, represent financial assets and liabilities of the Company's CFEs as discussed in Note 2. (2) Includes $1.5 million of non-performing securitized residential mortgage loans. (3) Shown in basis points. (4) Represent an estimation of where market participants might value an enterprise on a price-to-book basis. (5) Represents the significant unobservable inputs used to fair value the financial instruments of the unconsolidated entity. The fair value of such financial instruments is the largest component of the valuation of such entity as a whole. The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2018: Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities $ 36,945 Market Quotes Non Binding Third-Party Valuation $ 17.42 $ 178.00 $ 78.31 Collateralized loan obligations 5,828 Market Quotes Non Binding Third-Party Valuation 2.64 375.00 167.78 Corporate debt, non-exchange traded corporate equity, and secured notes 13,976 Market Quotes Non Binding Third-Party Valuation 9.69 91.00 59.18 Private label commercial mortgage-backed securities 576 Market Quotes Non Binding Third-Party Valuation 5.93 6.36 6.14 Agency interest only residential mortgage-backed securities 744 Market Quotes Non Binding Third-Party Valuation 1.70 9.12 5.64 Private label residential mortgage-backed securities 54,346 Discounted Cash Flows Yield 3.5 % 66.1 % 10.7 % Projected Collateral Prepayments 16.0 % 92.1 % 50.4 % Projected Collateral Losses 0.0 % 23.1 % 8.7 % Projected Collateral Recoveries 1.5 % 14.6 % 7.3 % Projected Collateral Scheduled Amortization 6.1 % 61.8 % 33.6 % 100.0 % Private label commercial mortgage-backed securities 227 Discounted Cash Flows Yield 3.4 % 3.4 % 3.4 % Projected Collateral Losses 2.0 % 2.0 % 2.0 % Projected Collateral Recoveries 6.6 % 6.6 % 6.6 % Projected Collateral Scheduled Amortization 91.4 % 91.4 % 91.4 % 100.0 % Corporate debt and non-exchange traded corporate equity 4,793 Discounted Cash Flows Yield 17.5 % 17.5 % 17.5 % (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Collateralized loan obligations $ 9,087 Discounted Cash Flows Yield 12.6 % 103.1 % 26.7 % Projected Collateral Prepayments 8.1 % 88.4 % 65.2 % Projected Collateral Losses 3.7 % 40.8 % 13.5 % Projected Collateral Recoveries 4.2 % 38.0 % 11.9 % Projected Collateral Scheduled Amortization 3.5 % 13.5 % 9.4 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans 206,761 Discounted Cash Flows Yield 7.0 % 18.3 % 8.5 % Projected Collateral Prepayments 0.0 % 45.9 % 33.5 % Projected Collateral Losses 2.6 % 84.8 % 9.1 % Projected Collateral Scheduled Amortization 15.2 % 96.6 % 57.4 % 100.0 % Performing commercial mortgage loans 163,876 Discounted Cash Flows Yield 8.0 % 22.5 % 9.6 % Non-performing commercial mortgage loans and commercial real estate owned 80,513 Discounted Cash Flows Yield 9.6 % 27.4 % 13.2 % Months to Resolution 3.0 16.0 7.9 Performing residential mortgage loans 171,367 Discounted Cash Flows Yield 2.7 % 12.9 % 6.0 % Securitized residential mortgage loans (1) 314,202 Discounted Cash Flows Yield 4.3 % 4.6 % 4.6 % Non-performing residential mortgage loans and residential real estate owned 12,557 Discounted Cash Flows Yield 4.3 % 25.1 % 11.3 % Months to Resolution (2) 1.9 42.2 27.8 Credit default swaps on asset-backed securities 1,472 Net Discounted Cash Flows Projected Collateral Prepayments 33.6 % 42.0 % 36.5 % Projected Collateral Losses 11.1 % 15.6 % 12.8 % Projected Collateral Recoveries 10.3 % 18.7 % 15.8 % Projected Collateral Scheduled Amortization 32.0 % 36.5 % 34.9 % 100.0 % Agency interest only residential mortgage-backed securities 6,549 Option Adjusted Spread ("OAS") LIBOR OAS (3) 211 3,521 677 Projected Collateral Prepayments 37.7 % 100.0 % 66.2 % Projected Collateral Scheduled Amortization 0.0 % 62.3 % 33.8 % 100.0 % Non-exchange traded common equity investment in mortgage-related entity 6,750 Enterprise Value Equity Price-to-Book (4) 3.3x 3.3x 3.3x Non-exchange traded preferred equity investment in mortgage-related entity 27,317 Enterprise Value Equity Price-to-Book (4) 1.1x 1.1x 1.1x Non-exchange traded preferred equity investment in loan origination entity 3,000 Recent Transactions Transaction Price N/A N/A N/A Non-controlling equity interest in limited liability company 5,192 Discounted Cash Flows Yield (5) 12.9% 16.1% 15.4% Other secured borrowings, at fair value (1) (297,948 ) Discounted Cash Flows Yield 3.9% 4.4% 4.3% (1) Securitized residential mortgage loans and Other secured borrowings, at fair value, represent financial assets and liabilities of the Company's CFE as discussed in Note 2. (2) Excludes certain loans that are re-performing. (3) Shown in basis points. (4) Represent an estimation of where market participants might value an enterprise on a price-to-book basis. (5) Represents the significant unobservable inputs used to fair value the financial instruments of the limited liability company. The fair value of such financial instruments is the largest component of the valuation of the limited liability company as a whole.
Fair Value Measurement Using Significant Unobservable Inputs	The table below includes a roll-forward of the Company's financial instruments for the year ended December 31, 2019 (including the change in fair value), for financial instruments classified by the Company within Level 3 of the valuation hierarchy. Year Ended December 31, 2019 (In thousands) Beginning Balance as of Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/Payments (1) Sales/Issuances (2) Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of December 31, 2019 Assets: Securities, at fair value: Agency RMBS $ 7,293 $ (3,464 ) $ (1,787 ) $ 808 $ 13,818 $ (1,306 ) $ 5,370 $ (828 ) $ 19,904 Non-Agency RMBS 91,291 270 5,636 (3,654 ) 21,512 (33,664 ) 15,354 (7,164 ) 89,581 CMBS 803 16 180 (246 ) 31,464 (5,271 ) 2,859 — 29,805 CLOs 14,915 (268 ) (3,190 ) 2,329 25,531 (5,112 ) 11,984 (1,210 ) 44,979 Asset-backed securities backed by consumer loans 22,800 (2,520 ) (891 ) 873 42,137 (13,789 ) — — 48,610 Corporate debt securities 6,318 22 (1,341 ) 188 11,024 (15,098 ) — — 1,113 Corporate equity securities 1,534 — (1,807 ) 205 1,462 — — — 1,394 Loans, at fair value: Residential mortgage loans 496,830 (6,081 ) 1,466 8,800 661,813 (230,625 ) — — 932,203 Commercial mortgage loans 195,301 (282 ) 2,412 (2,083 ) 175,689 (96,278 ) — — 274,759 Consumer loans 183,961 (28,521 ) (6,291 ) 3,000 183,994 (149,189 ) — — 186,954 Corporate loan — 36 — (36 ) 18,510 — — — 18,510 Investments in unconsolidated entities, at fair value 72,298 — 1,545 8,664 42,173 (52,830 ) — — 71,850 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 1,472 — 528 (479 ) 33 (561 ) — — 993 Total return swaps — — 160 620 — (160 ) — — 620 Total assets, at fair value $ 1,094,816 $ (40,792 ) $ (3,380 ) $ 18,989 $ 1,229,160 $ (603,883 ) $ 35,567 $ (9,202 ) $ 1,721,275 Liabilities: Financial derivatives–assets, at fair value- Total return swaps $ — $ — $ (15 ) $ (436 ) $ 15 $ — $ — $ — $ (436 ) Other secured borrowings, at fair value (297,948 ) — — (502 ) 182,291 (478,237 ) — — (594,396 ) Total liabilities, at fair value $ (297,948 ) $ — $ (15 ) $ (938 ) $ 182,306 $ (478,237 ) $ — $ — $ (594,832 ) (1) For Investments in unconsolidated entities, at fair value, amount represents contributions to investments in unconsolidated entities. (2) For Investments in unconsolidated entities, at fair value, amount represents distributions from investments in unconsolidated entities. All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at December 31, 2019 , as well as Level 3 financial instruments disposed of by the Company during the year ended December 31, 2019 . For Level 3 financial instruments held by the Company at December 31, 2019 , change in net unrealized gain (loss) of $2.4 million , $11.5 million , $5.2 million , $0.1 million , $(0.4) million , and $0.1 million , for the year ended December 31, 2019 relate to securities, loans, investments in unconsolidated entities, financial derivatives–assets, financial derivatives–liabilities, and other secured borrowings, at fair value, respectively. At December 31, 2019 , the Company transferred $9.2 million of assets from Level 3 to Level 2 and $35.6 million from Level 2 to Level 3. Transfers between these hierarchy levels were based on the availability of sufficient observable inputs to meet Level 2 versus Level 3 criteria. The leveling of each financial instrument is reassessed at the end of each period, and is based on pricing information received from third-party pricing sources. The tables below include a roll-forward of the Company's financial instruments for the year ended December 31, 2018 (including the change in fair value), for financial instruments classified by the Company within Level 3 of the valuation hierarchy. Level 3—Fair Value Measurement Using Significant Unobservable Inputs: Year Ended December 31, 2018 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Sales/ Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of December 31, 2018 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 6,173 $ (2,233 ) $ (10 ) $ 175 $ 2,753 $ (1,169 ) $ 2,616 $ (1,012 ) $ 7,293 Private label residential mortgage-backed securities 101,297 383 1,838 (2,135 ) 75,685 (78,487 ) 7,074 (14,364 ) 91,291 Private label commercial mortgage-backed securities 12,347 (243 ) 2,229 2,120 1,481 (16,896 ) — (235 ) 803 Commercial mortgage loans 108,301 790 1,146 1,944 149,053 (50,049 ) — — 211,185 Residential mortgage loans 182,472 (1,965 ) 1,011 (34 ) 402,235 (86,889 ) — — 496,830 Collateralized loan obligations 24,911 (351 ) 317 (2,268 ) 33,549 (33,115 ) 3,959 (12,087 ) 14,915 Consumer loans and asset-backed securities backed by consumer loans 135,258 (29,320 ) 8,415 (1,092 ) 228,354 (134,854 ) — — 206,761 Corporate debt 23,947 56 241 (964 ) 7,665 (17,688 ) — (6,939 ) 6,318 Secured notes — 870 — (1,221 ) 11,268 — — — 10,917 Real estate owned 26,277 — (653 ) (1,003 ) 12,793 (2,914 ) — — 34,500 Corporate equity investments 37,465 — 1,671 8,299 12,708 (16,350 ) — — 43,793 Total investments, at fair value 658,448 (32,013 ) 16,205 3,821 937,544 (438,411 ) 13,649 (34,637 ) 1,124,606 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 3,140 — (687 ) 715 102 (1,798 ) — — 1,472 Total financial derivatives– assets, at fair value 3,140 — (687 ) 715 102 (1,798 ) — — 1,472 Total investments and financial derivatives–assets, at fair value $ 661,588 $ (32,013 ) $ 15,518 $ 4,536 $ 937,646 $ (440,209 ) $ 13,649 $ (34,637 ) $ 1,126,078 Liabilities: Other secured borrowings, at fair value $ (125,105 ) $ — $ — $ 758 $ 49,731 $ (223,332 ) $ — $ — $ (297,948 ) Total other secured borrowings, at fair value $ (125,105 ) $ — $ — $ 758 $ 49,731 $ (223,332 ) $ — $ — $ (297,948 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at December 31, 2018, as well as Level 3 financial instruments disposed of by the Company during the year ended December 31, 2018. For Level 3 financial instruments held by the Company at December 31, 2018, change in net unrealized gain (loss) of $5.3 million , $(0.6) million , and $0.8 million , for the year ended December 31, 2018 relate to investments, financial derivatives–assets, and other secured borrowings, at fair value, respectively. At December 31, 2018, the Company transferred $34.6 million of securities from Level 3 to Level 2 and $13.6 million from Level 2 to Level 3. Transfers between these hierarchy levels were based on the availability of sufficient observable inputs to meet Level 2 versus Level 3 criteria. The leveling of each financial instrument is reassessed at the end of each period, and is based on pricing information received from third-party pricing sources.

Investment in Securities (Table

Investment in Securities (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Investment Holdings	The following table details the Company's investment in securities as of December 31, 2019 . Gross Unrealized Weighted Average ($ in thousands) Current Principal Unamortized Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon (1) Yield Life (Years) (2) Long: Agency RMBS: 15-year fixed-rate mortgages $ 314,636 $ 6,369 $ 321,005 $ 2,604 $ (203 ) $ 323,406 3.05 % 2.28 % 3.05 20-year fixed-rate mortgages 804 49 853 24 — 877 4.62 % 2.99 % 4.80 30-year fixed-rate mortgages 1,358,762 64,846 1,423,608 13,821 (2,830 ) 1,434,599 4.20 % 2.95 % 6.63 Adjustable rate mortgages 9,651 315 9,966 90 (54 ) 10,002 3.99 % 2.03 % 4.09 Reverse mortgages 122,670 8,133 130,803 2,023 (26 ) 132,800 4.43 % 2.78 % 6.67 Interest only securities n/a n/a 34,044 1,624 (389 ) 35,279 2.81 % 9.27 % 3.86 Non-Agency RMBS 274,353 (122,685 ) 151,668 12,549 (1,081 ) 163,136 3.41 % 7.25 % 5.31 CMBS 185,417 (67,961 ) 117,456 2,990 (480 ) 119,966 3.31 % 6.62 % 8.94 Non-Agency interest only securities n/a n/a 6,517 1,817 (18 ) 8,316 1.10 % 8.18 % 4.14 CLOs n/a n/a 169,238 4,219 (3,014 ) 170,443 5.05 % 9.62 % 4.75 ABS backed by consumer loans 67,080 (19,154 ) 47,926 1,596 (912 ) 48,610 12.17 % 14.00 % 1.22 Corporate debt 22,125 (21,241 ) 884 229 — 1,113 — % — % 0.33 Corporate equity n/a n/a 1,242 152 — 1,394 n/a n/a n/a Total Long 2,355,498 (151,329 ) 2,415,210 43,738 (9,007 ) 2,449,941 4.15 % 4.09 % 5.88 Short: Corporate debt (450 ) (6 ) (456 ) — (15 ) (471 ) 5.44 % 5.21 % 4.90 U.S. Treasury securities (63,140 ) 381 (62,759 ) 63 (298 ) (62,994 ) 1.76 % 1.87 % 6.11 European sovereign bonds (9,759 ) 133 (9,626 ) — (318 ) (9,944 ) 0.77 % 0.12 % 1.58 Total Short (73,349 ) 508 (72,841 ) 63 (631 ) (73,409 ) 1.65 % 1.66 % 5.49 Total $ 2,282,149 $ (150,821 ) $ 2,342,369 $ 43,801 $ (9,638 ) $ 2,376,532 4.23 % 4.01 % 5.90 (1) Weighted average coupon represents the weighted average coupons of the securities, rather than, in the case of collateralized securities, the coupon rates or loan rates on the underlying collateral. (2) Average lives of MBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal.
Securities by Weighted Average Life	The following table details weighted average life of the Company's Agency RMBS as of December 31, 2019 . ($ in thousands) Agency RMBS Agency Interest Only Securities Estimated Weighted Average Life (1) Fair Value Amortized Cost Weighted Average Coupon (2) Fair Value Amortized Cost Weighted Average Coupon (2) Less than three years $ 188,593 $ 187,099 3.39 % $ 9,011 $ 8,611 3.35 % Greater than three years and less than seven years 961,839 953,031 4.25 % 25,334 24,512 2.66 % Greater than seven years and less than eleven years 713,862 708,805 3.89 % 934 921 1.90 % Greater than eleven years 37,390 37,300 3.51 % — — — % Total $ 1,901,684 $ 1,886,235 4.02 % $ 35,279 $ 34,044 2.81 % (1) Average lives of RMBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal. (2) Weighted average coupon represents the weighted average coupons of the securities, rather than the coupon rates or loan rates on the underlying collateral. The following table details weighted average life of the Company's long non-Agency RMBS, CMBS, and CLOs and other securities as of December 31, 2019 . ($ in thousands) Non-Agency RMBS and CMBS Non-Agency IOs CLOs and Other Securities (2) Estimated Weighted Average Life (1) Fair Value Amortized Cost Weighted Average Coupon (3) Fair Value Amortized Cost Weighted Average Coupon (3) Fair Value Amortized Cost Weighted Average Coupon (3) Less than three years $ 50,120 $ 48,213 2.73 % $ 439 $ 401 1.37 % $ 54,446 $ 54,090 11.11 % Greater than three years and less than seven years 87,436 79,326 4.42 % 7,877 6,116 1.08 % 157,384 155,651 5.38 % Greater than seven years and less than eleven years 127,533 123,924 3.31 % — — — % 8,336 8,307 — % Greater than eleven years 18,013 17,661 0.81 % — — — % — — — % Total $ 283,102 $ 269,124 3.37 % $ 8,316 $ 6,517 1.10 % $ 220,166 $ 218,048 6.60 % (1) Average lives of MBS are generally shorter than stated contractual maturities. Average lives are affected by the contractual maturities of the underlying mortgages, scheduled periodic payments of principal, and unscheduled prepayments of principal. (2) Other Securities includes asset-backed securities, backed by consumer loans, corporate debt, and U.S. Treasury securities. (3) Weighted average coupon represents the weighted average coupons of the securities, rather than the coupon rates or loan rates on the underlying collateral.
Investment Income	The following table details the components of interest income by security type for the year ended December 31, 2019 : (In thousands) Year Ended December 31, 2019 Security Type Coupon Interest Net Amortization Interest Income Agency RMBS $ 62,103 $ (24,731 ) $ 37,372 Non-Agency RMBS and CMBS 13,855 2,782 16,637 CLOs 15,857 (1,599 ) 14,258 Other securities (1) 7,157 (2,468 ) 4,689 Total $ 98,972 $ (26,016 ) $ 72,956 (1) Other securities includes ABS backed by consumer loans, corporate debt securities, and U.S. Treasury securities.
Schedule of Realized Gain (Loss)	The following table presents proceeds from sales and the resulting realized gains and (losses) of the Company's securities for the year ended December 31, 2019 . (In thousands) Year Ended Security Type Proceeds (1) Gross Realized Gains Gross Realized Losses Net Realized Gain (Loss) Agency RMBS $ 1,010,251 $ 9,006 $ (4,924 ) $ 4,082 Non-Agency RMBS and CMBS 184,725 12,552 (7,348 ) 5,204 CLOs 62,063 1,286 (19,464 ) (18,178 ) Other securities (2) 636,886 1,113 (4,863 ) (3,750 ) Total $ 1,893,925 $ 23,957 $ (36,599 ) $ (12,642 ) (1) Includes proceeds on sales of securities not yet settled as of period end. (2) Other securities includes ABS backed by consumer loans, corporate debt and equity, exchange-traded equity, and U.S. Treasury securities.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table presents the fair value and gross unrealized losses of our long securities by length of time that such securities have been in an unrealized loss position at December 31, 2019 . (In thousands) Less than 12 Months Greater than 12 Months Total Security Type Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Agency RMBS $ 328,968 $ (1,503 ) $ 125,095 $ (1,999 ) $ 454,063 $ (3,502 ) Non-Agency RMBS and CMBS 88,495 (880 ) 27,218 (699 ) 115,713 (1,579 ) CLOs 37,354 (1,911 ) 9,245 (1,103 ) 46,599 (3,014 ) Other securities (1) 16,562 (852 ) 1,380 (60 ) 17,942 (912 ) Total $ 471,379 $ (5,146 ) $ 162,938 $ (3,861 ) $ 634,317 $ (9,007 ) (1) Other securities includes ABS backed by consumer loans, corporate debt and equity, and U.S. Treasury securities.

Investment in Loans (Tables)

Investment in Loans (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Summary of Investments in Loans	The table below details certain information regarding the Company's consumer loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value (1) Life (Years) (2) Delinquency (Days) Consumer loans, held-for-investment $ 179,743 $ 5,027 $ 184,770 $ 2,561 $ (377 ) $ 186,954 0.82 4 (1) Includes $0.6 million of charged-off loans for which the Company has determined that it is probable the servicer will be able to collect principal and interest. (2) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. The table below details certain information regarding the Company's commercial mortgage loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon Yield (1) Life (Years) (2) Commercial mortgage loans, held-for-investment $ 277,870 $ (3,302 ) $ 274,568 $ 253 $ (62 ) $ 274,759 7.65 % 8.58 % 1.07 (1) Excludes commercial mortgage loans, held at par in non-accrual status, with a fair value of $10.7 million . (2) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. The table below details certain information regarding the Company's corporate loans as of December 31, 2019 : Weighted Average ($ in thousands) Unpaid Principal Balance Fair Value Rate Remaining Term (Years) Corporate loans, held-for-investment (1)(2) $ 18,415 $ 18,510 17.62 % 0.87 (1) See Note 13 for further details on the Company's transactions involving a loan originator in which the Company also holds an equity investment. (2) See Note 21 for further details on the Company's unfunded commitments related to certain of its corporate loans. The table below details certain information regarding the Company's residential mortgage loans as of December 31, 2019 : Gross Unrealized Weighted Average ($ in thousands) Unpaid Principal Balance Premium (Discount) Amortized Cost Gains Losses Fair Value Coupon Yield Life (Years) (1) Residential mortgage loans, held-for-investment (2) $ 911,705 $ 9,354 $ 921,059 $ 13,082 $ (1,938 ) $ 932,203 6.44 % 5.79 % 1.90 (1) Average lives of loans are generally shorter than stated contractual maturities. Average lives are affected by scheduled periodic payments of principal and unscheduled prepayments of principal. (2) Includes $628.4 million of non-QM loans that have been securitized and are held in consolidated securitization trusts; see Note 10. December 31, 2019 : Loan Type Unpaid Principal Balance Fair Value (In thousands) Residential mortgage loans $ 911,705 $ 932,203 Commercial mortgage loans 277,870 274,759 Consumer loans 179,743 186,954 Corporate loans 18,415 18,510 Total $ 1,387,733 $ 1,412,426
Financing Receivable, Past Due [Table Text Block]	The following table provides details, by accrual status, for loans that are 90 days or more past due as of December 31, 2019 : (In thousands) Unpaid Principal Balance Fair Value 90 days or more past due—non-accrual status Residential mortgage loans $ 22,092 $ 19,401 Commercial mortgage loans 28,936 26,545 Consumer loans 5,633 5,225
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance Florida 31.7 % New York 17.7 % New Jersey 13.3 % Connecticut 8.2 % Virginia 6.8 % Massachusetts 4.7 % Missouri 4.6 % Arizona 3.8 % Indiana 2.1 % North Carolina 1.8 % Nevada 1.5 % Tennessee 1.5 % Illinois 1.2 % Other 1.1 % 100.0 % The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance California 46.6 % Florida 11.9 % Texas 11.9 % Colorado 3.2 % Massachusetts 2.9 % Arizona 2.4 % Oregon 2.2 % Utah 1.9 % Illinois 1.7 % Nevada 1.6 % Washington 1.6 % New York 1.3 % Maryland 1.1 % New Jersey 1.1 % Other 8.6 % 100.0 % December 31, 2019 . Amount of Exposure Number of Counterparties with Exposure Maximum Percentage of Exposure to a Single Counterparty (1) (In thousands) Cash and cash equivalents $ 72,302 11 42.2 % Collateral on repurchase agreements held by dealers (2) 2,793,696 28 13.8 % Due from brokers 79,829 24 30.9 % Receivable for securities sold (3) 69,995 5 62.3 % (1) Each counterparty is a large creditworthy financial institution. (2) Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements. (3) Included in Investment related receivables on the Consolidated Balance Sheet.
Financing Receivable Credit Quality Indicators [Table Text Block]	The following table presents information on the Company's residential mortgage loans by re-performing or non-performing status, as of December 31, 2019 . (In thousands) Unpaid Principal Balance Fair Value Re-performing $ 27,663 $ 25,323 Non-performing 17,757 15,580
Consumer Loans, Delinquency Status [Table Text Block]	The table below provides details on the delinquency status of the Company's consumer loans, which the Company uses as an indicator of credit quality, as of December 31, 2019 : Days Past Due Delinquency Status (1) Current 95.3 % 30-59 Days 2.1 % 60-89 Days 1.4 % 90-119 Days 1.2 % 100.0 % (1) As a percentage of total unpaid principal balance.

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Entities	The following table provides details about the Company's investments in unconsolidated entities as of December 31, 2019 : Investment in Unconsolidated Entity Form of Investment Percentage Ownership of Unconsolidated Entity Longbridge Financial, LLC (1) Preferred shares 49.7% LendSure Mortgage Corp. (1) Common shares 49.9% Jepson Holdings Limited (1)(2) Membership Interest 30.1% Elizon AFG 2018-1 LLC (1)(2) Membership Interest 13.4% Elizon DB 2015-1 LLC (1)(2) Membership Interest 3.5% Other Various 7.7%–51.0% (1) See Note 13 for additional details on the Company's related party transactions. (2) The Company has evaluated this entity and determined that it meets the definition of a VIE. The Company evaluated its interest in the VIE and determined that the Company does not have the power to direct the activities of the VIE and does not have control of the underlying assets, where applicable. As a result, the Company determined that it is not the primary beneficiary of this VIE and therefore has not consolidated the VIE. The following table provides a summary of the combined financial position of the unconsolidated entities as of December 31, 2019, in which the Company has an investment: December 31, 2019 (In thousands) Assets Investments in securities, loans, MSRs, and REO (1) $ 560,949 Other assets 65,580 Total assets $ 626,529 Liabilities Borrowings $ 387,910 Other liabilities 28,134 Total liabilities 416,044 Equity 210,485 Total liabilities and equity $ 626,529 (1) Includes investments carried as the lower of cost or fair value as well as investments where the unconsolidated entity has elected the FVO. The following table provides a summary of the combined results of operations of the unconsolidated entities as of December 31, 2019, in which the Company has an investment: Year Ended December 31, 2019 (In thousands) Net Interest Income Interest income $ 30,587 Interest expense (13,316 ) Total net interest income 17,271 Other Income (Loss) Realized and unrealized gains (losses) on securities, loans, MSRs, and REO, net 40,901 Other, net 31,848 Total other income (loss) 72,749 Total expenses 58,018 Net income (loss) before income tax expense 32,002 Income tax expense (benefit) 979 Net Income (Loss) $ 31,023

Real Estate Owned (Tables)

Real Estate Owned (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Schedule of Real Estate Owned	The following table details activity in the Company's carrying value of REO for the year ended December 31, 2019 . Year Ended December 31, 2019 Number of Properties Carrying Value (In thousands) Beginning Balance (January 1, 2019) 20 $ 30,778 Transfers from mortgage loans 8 22,577 Capital expenditures and other adjustments to cost 240 Adjustments to record at the lower of cost or fair value (1,002 ) Disposals (13 ) (22,009 ) Ending Balance (December 31, 2019) 15 $ 30,584

To Be Announced RMBS (Tables)

To Be Announced RMBS (Tables)	12 Months Ended
	Dec. 31, 2019
To Be Announced RMBS [Abstract]
To Be Announced RMBS	The below table details TBA assets, liabilities, and the respective related payables and receivables as of December 31, 2018: (In thousands) As of December 31, 2018 Assets: TBA securities, at fair value (Current principal: $460,037) $ 474,860 Receivable for securities sold relating to unsettled TBA sales 766,574 Liabilities: TBA securities sold short, at fair value (Current principal: -$753,697) $ (772,964 ) Payable for securities purchased relating to unsettled TBA purchases (473,386 ) Net short TBA securities, at fair value (298,104 )

Financial Derivatives (Tables)

Financial Derivatives (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table details the fair value of the Company's holdings of financial derivatives as of December 31, 2019 : December 31, 2019 (In thousands) Financial derivatives–assets, at fair value: TBA securities purchase contracts $ 90 TBA securities sale contracts 506 Fixed payer interest rate swaps 3,914 Fixed receiver interest rate swaps 1,554 Credit default swaps on asset-backed securities 993 Credit default swaps on asset-backed indices 3,319 Credit default swaps on corporate bonds 2 Credit default swaps on corporate bond indices 5,599 Total return swaps 620 Futures 148 Forwards 43 Total financial derivatives–assets, at fair value 16,788 Financial derivatives–liabilities, at fair value: TBA securities sale contracts (1,012 ) Fixed payer interest rate swaps (8,513 ) Fixed receiver interest rate swaps (206 ) Credit default swaps on asset-backed indices (250 ) Credit default swaps on corporate bonds (1,693 ) Credit default swaps on corporate bond indices (14,524 ) Total return swaps (1,209 ) Futures (45 ) Forwards (169 ) Total financial derivatives–liabilities, at fair value (27,621 ) Total $ (10,833 )
Schedule of Interest Rate Derivatives [Table Text Block]	The following table provides information about the Company's fixed payer interest rate swaps as of December 31, 2019 : Weighted Average Maturity Notional Amount (1) Fair Value (1) Pay Rate (2)(3) Receive Rate (2) Remaining Years to Maturity (4) (In thousands) 2020 $ 68,607 $ (234 ) 1.74 % 1.93 % 0.24 2021 268,929 (419 ) 1.73 1.95 1.64 2022 31,350 9 1.65 1.93 2.14 2023 101,012 (1,265 ) 2.06 1.91 3.29 2024 13,000 99 1.56 1.89 4.90 2025 12,800 (24 ) n/a n/a 5.22 2026 59,902 1,946 1.24 1.94 6.50 2028 32,942 (1,634 ) 2.40 1.93 8.34 2029 136,838 (2,018 ) 2.02 1.96 9.61 2030 685 (32 ) 2.38 1.90 10.90 2036 1,100 87 1.45 1.94 16.14 2049 5,796 (1,114 ) 2.89 2.09 29.03 Total $ 732,961 $ (4,599 ) 1.83 % 1.94 % 4.31 (1) Includes forward-starting interest rate swaps with a notional amount of $ 20.9 million and fair value of $(41) thousand . (2) Excludes forward-starting interest rate swaps. (3) Including forward-starting interest rate swaps the total weighted average pay rate was 1.83% . (4) Includes forward-starting interest rate swaps, all of which start within six months of period end. The following table provides information about the Company's fixed receiver interest rate swaps as of December 31, 2019 : Weighted Average Maturity Notional Amount Fair Value Pay Rate Receive Rate Remaining Years to Maturity (In thousands) 2021 $ 181,950 $ (49 ) 1.89 % 1.67 % 1.84 2022 53,974 441 1.91 1.85 2.17 2023 48,657 709 1.92 2.00 3.26 2024 11,342 306 2.09 2.33 4.23 2029 9,800 (59 ) 1.91 1.78 9.77 Total $ 305,723 $ 1,348 1.91 % 1.78 % 2.47
Schedule of Credit Default Swaps [Table Text Block]	The following table provides information about the Company's credit default swaps as of December 31, 2019 : Type (1) Notional Fair Value Weighted Average Remaining Term (Years) (In thousands) Asset: Long: Credit default swaps on asset-backed indices $ 695 $ 10 23.80 Credit default swaps on corporate bonds 430 2 0.47 Credit default swaps on corporate bond indices 130,707 5,547 2.42 Short: Credit default swaps on asset-backed securities (2,640 ) 993 15.63 Credit default swaps on asset-backed indices (63,515 ) 3,309 38.40 Credit default swaps on corporate bond indices (1,997 ) 52 3.97 Liability: Long: Credit default swaps on asset-backed indices 344 (145 ) 29.35 Short: Credit default swaps on asset-backed indices (4,501 ) (105 ) 40.31 Credit default swaps on corporate bonds (10,800 ) (1,693 ) 3.92 Credit default swaps on corporate bond indices (250,088 ) (14,524 ) 2.51 $ (201,365 ) $ (6,554 ) 14.88 (1) Long notional represents contracts where the Company has written protection and short notional represents contracts where the Company has purchased protection.
Schedule of Futures Contracts [Table Text Block]	The following table provides information about the Company's short positions in futures as of December 31, 2019 : Description Notional Amount Fair Value Remaining Months to Expiration (In thousands) U.S. Treasury futures $ (16,000 ) $ 148 2.77 Eurodollar futures (14,000 ) (45 ) 4.05 Total $ (30,000 ) $ 103 3.37
Schedule of TBA securities [Table Text Block]	As of December 31, 2019 , the Company had outstanding TBA purchase and sale contracts as follows: TBA Securities Notional Amount (1) Cost Basis (2) Market Value (3) Net Carrying Value (4) (In thousands) Purchase contracts: Assets $ 40,100 $ 40,585 $ 40,675 $ 90 40,100 40,585 40,675 90 Sale contracts: Assets (319,981 ) (332,080 ) (331,574 ) 506 Liabilities (773,749 ) (806,568 ) (807,580 ) (1,012 ) (1,093,730 ) (1,138,648 ) (1,139,154 ) (506 ) Total TBA securities, net $ (1,053,630 ) $ (1,098,063 ) $ (1,098,479 ) $ (416 ) (1) Notional amount represents the principal balance of the underlying Agency RMBS. (2) Cost basis represents the forward price to be paid (received) for the underlying Agency RMBS. (3) Market value represents the current market value of the underlying Agency RMBS (on a forward delivery basis) as of period end. (4) Net carrying value represents the difference between the market value of the TBA contract as of period end and the cost basis, and is reported in Financial derivatives-assets, at fair value and Financial derivatives-liabilities, at fair value on the Consolidated Balance Sheet.
Schedule of Gains and Losses on Derivative Contracts	Gains and losses on the Company's derivative contracts for the year ended December 31, 2019 are summarized in the table below: Derivative Type Primary Risk Exposure Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps Net Realized Gains (Losses) on Financial Derivatives Other Than Periodic Settlements of Interest Rate Swaps (1) Net Realized Gains (Losses) on Financial Derivatives (1) Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps Change in Net Unrealized Gains (Losses) on Financial Derivatives Other Than on Accrued Periodic Settlements of Interest Rate Swaps (2) Change in Net Unrealized Gains (Losses) on Financial Derivatives (2) (In thousands) Interest rate swaps Interest Rate $ 1,695 $ (876 ) $ 819 $ (764 ) $ (5,778 ) $ (6,542 ) Credit default swaps on asset-backed securities Credit 528 528 (479 ) (479 ) Credit default swaps on asset-backed indices Credit (1,883 ) (1,883 ) (1,848 ) (1,848 ) Credit default swaps on corporate bond indices Credit (5,262 ) (5,262 ) (1,364 ) (1,364 ) Credit default swaps on corporate bonds Credit (708 ) (708 ) 1,007 1,007 Total return swaps Equity Market/Credit (1,460 ) (1,460 ) (584 ) (584 ) TBAs Interest Rate (15,755 ) (15,755 ) 4,026 4,026 Futures Interest Rate/Currency (7,924 ) (7,924 ) 458 458 Forwards Currency 813 813 (12 ) (12 ) Options Interest Rate (35 ) (35 ) 1 1 Total $ 1,695 $ (32,562 ) $ (30,867 ) $ (764 ) $ (4,573 ) $ (5,337 ) (1) Includes gain/(loss) on foreign currency transactions on financial derivatives in the amount of $45 thousand for the year ended December 31, 2019 , which is included on the Consolidated Statement of Operations in Other, net. (2) Includes foreign currency remeasurement on financial derivatives in the amount of $1 thousand for the year ended December 31, 2019 , which is included on the Consolidated Statement of Operations in Other, net. Gains and losses on the Company's derivative contracts for the year ended December 31, 2018 are summarized in the table below: Year Ended December 31, 2018 Derivative Type Primary Risk Exposure Net Realized (1) Change in Net Unrealized Gain/(Loss) (2) (In thousands) Credit default swaps on asset-backed securities Credit $ (687 ) $ 715 Credit default swaps on asset-backed indices Credit (2,293 ) 2,013 Credit default swaps on corporate bond indices Credit (1,983 ) 3,540 Credit default swaps on corporate bonds Credit 2,993 (2,648 ) Total return swaps Equity Market/Credit 3,844 (5 ) Interest rate swaps Interest Rate (985 ) 3,648 Futures Interest Rate/Currency 162 108 Forwards Currency 923 359 Options Interest Rate/ Equity Market (63 ) 77 Total $ 1,911 $ 7,807 (1) Includes gain/(loss) on foreign currency transactions on derivatives in the amount of $0.1 million for the year ended December 31, 2018, which is included on the Consolidated Statement of Operations in Realized gain (loss) on foreign currency transactions. (2) Includes foreign currency translation on derivatives in the amount of $0.1 million for the year ended December 31, 2018, which is included on the Consolidated Statement of Operations in Change in net unrealized gain (loss) on foreign currency translation.
Derivative activity, volume	The table below details the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the year ended December 31, 2019 : Derivative Type Year Ended (In thousands) Interest rate swaps $ 731,941 TBAs 973,331 Credit default swaps 399,316 Total return swaps 39,434 Futures 167,708 Options 19,825 Forwards 30,930 Warrants 2,222 The table below details the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the year ended December 31, 2018: Derivative Type Year Ended (In thousands) Interest rate swaps $ 1,059,756 Credit default swaps 566,805 Total return swaps 53,603 Futures 201,295 Options 99,891 Forwards 45,522
Schedule of Credit Derivatives	Written credit derivatives held by the Company at December 31, 2019 are summarized below: Credit Derivatives December 31, 2019 (In thousands) Fair Value of Written Credit Derivatives, Net $ 5,414 Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (3,248 ) Notional Value of Written Credit Derivatives (2) 132,176 Notional Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (81,637 ) (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive, upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional value of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional value of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty. Written credit derivatives held by the Company at December 31, 2018 are summarized below: Credit Derivatives December 31, 2018 (In thousands) Fair Value of Written Credit Derivatives, Net $ (4,339 ) Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (284 ) Notional Value of Written Credit Derivatives (2) 98,586 Notional Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) (41,134 ) (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive, upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional value of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional value of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty.

Consolidated VIEs (Tables)

Consolidated VIEs (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Consolidated VIEs	The following table summarizes the assets and liabilities of the Company's consolidated VIEs that are included on the Company's Consolidated Balance Sheet as of December 31, 2019 . (In thousands) December 31, 2019 (1) Assets Cash and cash equivalents $ 6,016 Restricted cash 175 Securities, at fair value 47,923 Loans, at fair value 1,393,916 Investments in unconsolidated entities, at fair value 5,641 Real estate owned 30,584 Due from brokers — Investment related receivables 28,668 Other assets 6,191 Total Assets $ 1,519,114 Liabilities Repurchase agreements $ 302,791 Investment related payables 3,275 Other secured borrowings 150,334 Other secured borrowings, at fair value 594,396 Interest payable 1,247 Accrued expenses and other liabilities 2,279 Total Liabilities 1,054,322 Total Stockholders' Equity 440,394 Non-controlling interests 24,400 Total Equity 464,794 Total Liabilities and Equity $ 1,519,116 (1) See Note 10 and Note 13 for additional information on the Company's consolidated VIEs.

Securitization Transactions (Ta

Securitization Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Securitization Transactions [Abstract]
Securitization Transactions	The following table provides details of the Ellington-sponsored CLO Securitizations and the Company's initial investments in notes issued by the Ellington-sponsored CLO Securitizations: CLO Issuer (1) CLO Pricing Date CLO Closing Date Total Face Amount of Notes Issued Notes Initially Purchased by the Company Securitization Transaction Face Amount Aggregate Purchase Price (In thousands) CLO I Securitization CLO I Issuer 8/18 8/18 $ 461,840 $ 36,579 (2) $ 25,622 CLO II Securitization CLO II Issuer 12/17 1/18 452,800 18,223 (3) 16,621 CLO III Securitization CLO III Issuer 6/18 7/18 407,100 35,480 (3) 32,394 CLO IV Securitization CLO IV Issuer 2/19 3/19 478,488 12,700 (3) 10,618 (1) The Company is not deemed to be the primary beneficiary of the CLO Issuers, which are deemed to be VIEs, as discussed above. (2) The Company purchased secured and unsecured subordinated notes. (3) The Company purchased secured senior and secured and unsecured subordinated notes. The following table details the Company's investments in notes issued by the Ellington-sponsored CLO Securitizations: CLO Issuer (1) CLO Pricing Date CLO Closing Date Total Face Amount of Notes Issued Face Amount of Notes Initially Purchased Aggregate Purchase Price Notes Held (2) as of December 31, 2018 ($ in thousands) CLO I Issuer (3)(4) 5/17 6/17 $ 373,550 $ 36,606 (5) $ 35,926 $ — CLO I Issuer (4) 8/18 8/18 461,840 36,579 (5) 25,622 16,973 (6) CLO II Issuer 12/17 1/18 452,800 18,223 (7) 16,621 14,721 (6) CLO III Issuer 6/18 7/18 407,100 35,480 (7) 32,394 19,071 (8) (1) The Company does not have the power to direct the activities of the CLO Issuers that most significantly impact their economic performance. (2) Included on the Company's Consolidated Condensed Schedule of Investments in Collateralized Loan Obligations. (3) Excludes the Company's equity investment in the CLO I Risk Retention Vehicle, as discussed above. (4) In August 2018, the notes originally issued by the CLO I Issuer in 2017 were fully redeemed, and the CLO I Issuer simultaneously issued new notes in conjunction with this full redemption. (5) The Company purchased secured and unsecured subordinated notes. (6) Includes secured and unsecured subordinated notes. (7) The Company purchased secured senior and secured and unsecured subordinated notes. (8) Includes secured senior and secured and unsecured subordinated notes.
Schedule of Residential Loan Securitizations	The following table details the Company's outstanding consolidated residential mortgage loan securitizations: Issuing Entity Closing Date Principal Balance of Loans Transferred to the Depositor Total Face Amount of Certificates Issued (In thousands) Ellington Financial Mortgage Trust 2018-1 11/18 $ 232,518 $ 232,518 (1) Ellington Financial Mortgage Trust 2019-1 6/19 226,913 226,913 (2) Ellington Financial Mortgage Trust 2019-2 11/19 267,255 267,255 (3) (1) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.7% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.3 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. (2) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 6.1% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.2 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. The following table details the residential mortgage loan securitizations: Issuing Entity Closing Date Principal Balance of Loans Transferred to the Depositor Total Face Amount of Certificates Issued (In thousands) Ellington Financial Mortgage Trust 2017-1 11/15/2017 $ 141,233 $ 141,233 (1) Ellington Financial Mortgage Trust 2018-1 11/13/2018 232,518 232,518 (2) (1) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.1% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $0.7 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties. (2) In order to comply with the Risk Retention Rules, the Sponsor purchased the two most subordinated classes of Certificates and the excess cash flow certificates, with an aggregate value equal to 5.7% of the fair value of all Certificates issued. The Sponsor also purchased, for an aggregate purchase price of $1.3 million , the Certificates entitled to excess servicing fees, while the remaining classes of Certificates were purchased by unrelated third parties.
Schedule of Assets and Liabilities of Consolidated Securitization Trusts	The following table details the assets and liabilities of the consolidated securitization trusts included in the Company's Consolidated Balance Sheet as of December 31, 2019 : (In thousands) December 31, 2019 Assets: Loans, at fair value $ 628,415 Real estate owned 658 Investment related receivables 10,409 Liabilities: Other secured borrowings, at fair value 594,396 The following table details the assets and liabilities of the consolidated securitization trusts included in the Company's Consolidated Statement of Assets, Liabilities, and Equity as of December 31, 2018: As of (In thousands) December 31, 2018 Assets: Investments, at fair value $ 314,202 Interest and dividends receivable 3,527 Liabilities: Interest and dividends payable 103 Other secured borrowings, at fair value 297,948

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Repurchase Agreements [Table Text Block]	The following table details the Company's outstanding borrowings under repurchase agreements for Agency RMBS and credit assets (which include non-Agency RMBS, CMBS, CLOs, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), by remaining maturity as of December 31, 2019 : (In thousands) December 31, 2019 Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Agency RMBS: 30 Days or Less $ 511,996 2.08 % 17 31-60 Days 744,387 1.93 % 47 61-90 Days 594,738 1.96 % 76 91-120 Days 10,270 2.24 % 93 151-180 Days 3,082 2.67 % 171 Total Agency RMBS 1,864,473 1.98 % 48 Credit: 30 Days or Less 16,549 3.38 % 25 31-60 Days 104,491 3.14 % 48 61-90 Days 138,837 3.03 % 73 121-150 Days 7,460 3.89 % 123 151-180 Days 31,498 3.87 % 173 181-360 Days 186,661 3.80 % 250 > 360 Days 95,331 4.52 % 678 Total Credit Assets 580,827 3.61 % 229 Total $ 2,445,300 2.37 % 91 The following table details the Company's outstanding borrowings under reverse repurchase agreements for Agency RMBS, credit assets (which include non-Agency MBS, CLOs, consumer loans, corporate debt, residential mortgage loans, and commercial mortgage loans and REO), and U.S. Treasury securities, by remaining maturity as of December 31, 2018: (In thousands) December 31, 2018 Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Agency RMBS: 30 Days or Less $ 245,956 2.46 % 17 31-60 Days 415,379 2.58 % 46 61-90 Days 255,421 2.74 % 76 91-120 Days 506 3.31 % 91 Total Agency RMBS 917,262 2.59 % 47 Credit: 30 Days or Less 30,426 2.55 % 22 31-60 Days 189,937 3.32 % 48 61-90 Days 93,202 3.21 % 74 121-150 Days 26,222 4.60 % 123 151-180 Days 9,491 4.64 % 166 181-360 Days 91,730 4.54 % 316 > 360 Days 140,306 5.15 % 636 Total Credit Assets 581,314 3.98 % 240 U.S. Treasury Securities: 30 Days or Less 273 3.10 % 2 Total U.S. Treasury Securities 273 3.10 % 2 Total $ 1,498,849 3.13 % 122
Schedule of Maturities of Long-term Debt [Table Text Block]	Schedule of Principal Repayments The following table details the Company's principal repayment schedule for outstanding borrowings as of December 31, 2019 : Year Repurchase Agreements (1) Other Secured Borrowings (2) Senior Notes (1) Total (In thousands) 2020 $ 2,349,969 $ 291,364 $ — $ 2,641,333 2021 38,516 243,856 — 282,372 2022 56,815 203,039 86,000 345,854 2023 — — — — 2024 — — — — Total $ 2,445,300 $ 738,259 $ 86,000 $ 3,269,559 (1) Reflects the Company's contractual principal repayment dates. (2) Reflects the Company's expected principal repayment dates, which may be prior to the stated contractual maturities. The following table details the Company's principal repayment schedule for outstanding borrowings as of December 31, 2018: Year Reverse Repurchase Agreements (1) Other Secured Borrowings (2) Senior Notes (1) Total (In thousands) 2019 $ 1,358,542 $ 194,135 $ — $ 1,552,677 2020 78,530 205,198 — 283,728 2021 61,776 13,150 — 74,926 2022 — — 86,000 86,000 2023 — — — — Total $ 1,498,848 $ 412,483 $ 86,000 $ 1,997,331 (1) Reflects the Company's contractual principal repayment dates. (2) Reflects the Company's expected principal repayment dates.

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Cash Dividends, Tax Characteristic [Table Text Block]					The following table details the tax characteristics of the Company's dividends declared on its shares of common and preferred stock for the year ended December 31, 2019. Tax Characteristic Year Ended Ordinary income 85.0 % Return of capital 9.4 % Capital gains 5.6 % 100.0 %
Income Tax Expense (Benefit)	$ 1,180	$ 2	$ 376	$ 0	$ 1,558
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]					The following table details the reconciliation between the Company's U.S. federal and state statutory income tax rate and the effective tax rate for the year ended December 31, 2019. Year Ended Federal statutory rate 21.00 % State statutory rate, net of federal benefit 0.45 % Income attributable to non-controlling interests (1.28 )% REIT earnings not subject to corporate taxes (17.76 )% Effective tax rate 2.41 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]					The following table details the components of the Company's net deferred tax asset (liability) at December 31, 2019. (In thousands) Year Ended Deferred tax asset Net operating loss available for carry-back and carry-forward $ 3,907 Basis difference for investments 669 Valuation allowance (157 ) Deferred tax asset 4,419 Deferred tax liability Basis difference for investments (5,484 ) Deferred tax liability (5,484 ) Net deferred tax asset (liability) $ (1,065 )

Long-Term Incentive Plan Units

Long-Term Incentive Plan Units (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Unvested LTIP Units	The below table details unvested OP LTIP Units as of December 31, 2019 : Grant Recipient Number of OP LTIP Units Granted Grant Date Vesting Date (1) Directors: 14,552 September 11, 2019 September 10, 2020 Partially dedicated employees: 12,818 December 13, 2019 December 13, 2020 10,067 December 13, 2019 December 13, 2021 8,691 December 11, 2018 December 11, 2020 Total unvested OP LTIP Units at December 31, 2019 46,128 (1) Date at which such OP LTIP Units will vest and become non-forfeitable. The below table details unvested OP LTIP Units as of December 31, 2018: Grant Recipient Number of OP LTIP Units Grant Date Vesting Date (1) Directors: 14,440 September 12, 2018 September 11, 2019 Partially dedicated employees: 8,692 December 11, 2018 December 11, 2019 8,691 December 11, 2018 December 11, 2020 1,723 March 7, 2018 March 7, 2019 5,886 December 12, 2017 December 12, 2019 Total unvested OP LTIP Units at December 31, 2018 39,432 (1) Date at which such OP LTIP Units will vest and become non-forfeitable.
Roll-Forward of Company's LTIP Units Outstanding	The following table summarizes issuance and exercise activity of OP LTIP Units for the year ended December 31, 2019 : Year Ended December 31, 2019 Manager Director/ Employee Total OP LTIP Units Outstanding (January 1, 2019) 375,000 146,371 521,371 Granted — 37,437 37,437 Exercised (9,482 ) (3,610 ) (13,092 ) OP LTIP Units Outstanding (December 31, 2019) 365,518 180,198 545,716 OP LTIP Units Unvested and Outstanding (December 31, 2019) — 46,128 46,128 OP LTIP Units Vested and Outstanding (December 31, 2019) 365,518 134,070 499,588 The following table summarizes issuance and exercise activity of LTIP Units and OP LTIP Units for the year ended December 31, 2018: Year Ended December 31, 2018 Manager Director/ Employee Total LTIP Units and OP LTIP Units Outstanding (December 31, 2017) 375,000 116,159 491,159 Granted — 33,546 33,546 Exercised — (3,334 ) (3,334 ) LTIP Units and OP LTIP Units Outstanding (December 31, 2018) 375,000 146,371 521,371 LTIP Units and OP LTIP Units Vested and Outstanding (December 31, 2018) 375,000 106,939 481,939

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Summary of Common Shares Outstanding	The following table summarizes issuance, repurchase, and other activity with respect to the Company's common stock for the year ended December 31, 2019 : Year Ended Shares of Common Stock Outstanding (January 1, 2019) 29,796,601 Share Activity: Shares of common stock issued 8,855,000 Shares of common stock repurchased (50,825 ) OP LTIP Units exercised 13,092 OP Units exercised 34,075 Shares of Common Stock Outstanding (December 31, 2019) 38,647,943 The following table summarizes issuance, repurchase, and other activity with respect to the Company's common shares for the year ended December 31, 2018: Year Ended Common Shares Outstanding (December 31, 2017) 31,335,938 Share Activity: Shares repurchased (1,547,148 ) Director LTIP Units exercised 3,334 Shares issued in connection with incentive fee payment 4,477 Common Shares Outstanding (December 31, 2018) 29,796,601

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Computation Of Basic And Diluted EPS	The components of the computation of basic and diluted EPS are as follows: Year Ended (In thousands except share amounts) Net income (loss) attributable to common stockholders $ 56,467 Add: Net income (loss) attributable to Convertible Non-controlling Interests (1) 1,305 Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests 57,772 Dividends Paid: Common stockholders (58,499 ) Convertible Non-controlling Interests (1,325 ) Total dividends paid to common stockholders and Convertible Non-controlling Interests (59,824 ) Undistributed (Distributed in excess of) earnings: Common stockholders (2,032 ) Convertible Non-controlling Interests (20 ) Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests $ (2,052 ) Weighted average shares outstanding (basic and diluted): Weighted average shares of common stock outstanding 32,067,768 Weighted average Convertible Non-controlling Interest Units outstanding 732,456 Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding 32,800,224 Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: Distributed $ 1.81 Undistributed (Distributed in excess of) (0.05 ) $ 1.76 Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: Distributed $ 1.81 Undistributed (Distributed in excess of) (0.05 ) $ 1.76 (1) For the year ended December 31, 2019 , excludes net income (loss) of $3.9 million attributable to joint venture partners, which have non-participating interests as described in Note 15. The components of the computation of basic and diluted EPS were as follows: Year Ended December 31, 2018 (In thousands except share amounts) Net increase (decrease) in shareholders' equity resulting from operations $ 46,676 Add: Net increase (decrease) in equity resulting from operations attributable to participating non-controlling interests (1) 319 Net increase (decrease) in equity resulting from operations related to common shares, LTIP Unit holders, and participating non-controlling interests 46,995 Net increase (decrease) in shareholders' equity resulting from operations available to common share and LTIP Unit holders: Net increase (decrease) in shareholders' equity resulting from operations–common shares 45,922 Net increase (decrease) in shareholders' equity resulting from operations–LTIP Units 753 Dividends Paid: Common shareholders (49,576 ) LTIP Unit holders (812 ) Non-controlling interests (348 ) Total dividends paid to common shareholders, LTIP Unit holders, and non-controlling interests (50,736 ) Undistributed (Distributed in excess of) earnings: Common shareholders (3,653 ) LTIP Unit holders (59 ) Non-controlling interests (29 ) Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP Unit holders, and non-controlling interests $ (3,741 ) Weighted average shares outstanding (basic and diluted): Weighted average common shares outstanding 30,297,401 Weighted average participating LTIP Units 496,962 Weighted average non-controlling interest units 212,000 Basic earnings per common share: Distributed $ 1.64 Undistributed (Distributed in excess of) (0.12 ) $ 1.52 Diluted earnings per common share: Distributed $ 1.64 Undistributed (Distributed in excess of) (0.12 ) $ 1.52 (1) For the year ended December 31, 2018, excludes net increase (decrease) in equity resulting from operations of $2.9 million attributable to joint venture partners, which have non-participating interests as described in Note 11.

Restricted Cash (Tables)

Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2019
Restricted Cash and Investments [Abstract]
Restrictions on Cash and Cash Equivalents	The below table details the Company's restricted cash balances included in Restricted cash on the Consolidated Statement of Assets, Liabilities, and Equity as of December 31, 2018. December 31, 2018 (In thousands) Restricted cash balance related to: Minimum account balance required for regulatory purposes $ 250 Flow consumer loan purchase and sale agreement 175 Total $ 425

Offsetting of Assets and Liab_2

Offsetting of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Offsetting of Assets and Liabilities [Abstract]
Schedule of Offsetting of Assets and Liabilities	The following table presents information about certain assets and liabilities representing financial instruments as of December 31, 2019 . The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's reverse repurchase and repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. December 31, 2019 : Description Amount of Assets (Liabilities) Presented in the Consolidated Balance Sheet (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 16,788 $ (12,755 ) $ — $ (807 ) $ 3,226 Reverse repurchase agreements 73,639 (73,639 ) — — — Liabilities Financial derivatives–liabilities (27,621 ) 12,755 — 12,233 (2,633 ) Repurchase agreements (2,445,300 ) 73,639 2,340,656 31,005 — (1) In the Company's Consolidated Balance Sheet, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of December 31, 2019 was $2.8 billion . As of December 31, 2019 , total cash collateral on financial derivative assets and liabilities excludes excess net cash collateral pledged of $4.3 million and $23.4 million , respectively. (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a particular asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows. The following tables present information about certain assets and liabilities representing financial instruments as of December 31, 2018. The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's repurchase and reverse repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. December 31, 2018: Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 20,001 $ (10,910 ) $ — $ (2,514 ) $ 6,577 Repurchase agreements 61,274 (61,274 ) — — — Liabilities Financial derivatives–liabilities (20,806 ) 10,910 — 9,896 — Reverse repurchase agreements (1,498,849 ) 61,274 1,420,601 16,974 — (1) In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of December 31, 2018 were $1.79 billion . As of December 31, 2018 total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $0.1 million . As of December 31, 2018 total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $16.4 million . (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Counterparty Risk (Tables)

Counterparty Risk (Tables)	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Schedules of Exposure to Counterparty Risk	The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance Florida 31.7 % New York 17.7 % New Jersey 13.3 % Connecticut 8.2 % Virginia 6.8 % Massachusetts 4.7 % Missouri 4.6 % Arizona 3.8 % Indiana 2.1 % North Carolina 1.8 % Nevada 1.5 % Tennessee 1.5 % Illinois 1.2 % Other 1.1 % 100.0 % The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as of December 31, 2019 : Property Location by U.S. State Percentage of Total Outstanding Unpaid Principal Balance California 46.6 % Florida 11.9 % Texas 11.9 % Colorado 3.2 % Massachusetts 2.9 % Arizona 2.4 % Oregon 2.2 % Utah 1.9 % Illinois 1.7 % Nevada 1.6 % Washington 1.6 % New York 1.3 % Maryland 1.1 % New Jersey 1.1 % Other 8.6 % 100.0 % December 31, 2019 . Amount of Exposure Number of Counterparties with Exposure Maximum Percentage of Exposure to a Single Counterparty (1) (In thousands) Cash and cash equivalents $ 72,302 11 42.2 % Collateral on repurchase agreements held by dealers (2) 2,793,696 28 13.8 % Due from brokers 79,829 24 30.9 % Receivable for securities sold (3) 69,995 5 62.3 % (1) Each counterparty is a large creditworthy financial institution. (2) Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements. (3) Included in Investment related receivables on the Consolidated Balance Sheet.
Schedule Of Percentage Of Total Collateral On Reverse Repurchase Agreements [Table Text Block]	The following table details the percentage of such collateral held by counterparties who hold greater than 15% of the aggregate $1.79 billion in collateral for various reverse repurchase agreements as of December 31, 2018. In addition to the below, unencumbered investments, on a settlement date basis, of approximately $13.3 million were held in custody at the Bank of New York Mellon Corporation as of December 31, 2018. Dealer % of Total Collateral on Reverse Repurchase Agreements Royal Bank of Canada 19%
% Of Total Deposits With Dealers Held As Collateral	The following table details the percentage of collateral amounts held by dealers who hold greater than 15% of the Company's Due from Brokers, included as of December 31, 2018: Dealer % of Total Due from Brokers Morgan Stanley 37% J.P. Morgan Securities LLC 30%
% Of Total Receivable For Securities Sold	The following table details the percentage of amounts held by dealers who hold greater than 15% of the Company's Receivable for securities sold as of December 31, 2018: Dealer % of Total Receivable for Securities Sold J.P. Morgan Securities LLC 25% Bank of America Securities 26% CS First Boston Limited 34%
Schedule of Cash and Cash Equivalents	In addition, the Company held cash and cash equivalents of $44.7 million as of December 31, 2018. The below table details the concentration of cash and cash equivalents held by each counterparty: Counterparty As of December 31, 2018 Bank of New York Mellon Corporation 64% Deutsche Bank Securities 5% Bank of America Securities 2% Morgan Stanley Institutional Liquidity Fund—Government Portfolio 10% BlackRock Liquidity Funds FedFund Portfolio 9% Goldman Sachs Financial Square Funds—Government Fund 9% Lakeland Bank Inc. 1%

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2019
Investment Company, Financial Highlights [Abstract]
Results of Operations For a Share Outstanding	Results of Operations for a Share Outstanding Throughout the Periods: Year Ended December 31, 2018 Beginning Shareholders' Equity Per Share (December 31, 2017) $ 19.15 Net Investment Income 1.42 Net Realized/Unrealized Gains (Losses) 0.23 Results of Operations Attributable to Equity 1.65 Less: Results of Operations Attributable to Non-controlling Interests (0.11 ) Results of Operations Attributable to Shareholders' Equity (1) 1.54 Dividends Paid to Common Shareholders (1.64 ) Weighted Average Share Impact on Dividends Paid (2) (0.03 ) Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest (0.10 ) Ending Shareholders' Equity Per Share (December 31, 2018) (3) $ 18.92 Shares Outstanding, end of period 29,796,601 (1) Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 13). (2) Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders. (3) If all LTIP Units and OP Units previously issued were vested and exchanged for common shares as of December 31, 2018 shareholders' equity per share would be $18.92 .
Net Asset Value Based Total Return For a Shareholder	The following table illustrates the Company's total return for the periods presented based on net asset value: Net Asset Value Based Total Return for a Shareholder: (1) Year Ended December 31, 2018 (2) Total Return 7.38% (1) Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period.
Net Investment Income Ratio to Average Equity	Net Investment Income Ratio to Average Equity: (1) Year Ended December 31, 2018 Net Investment Income 7.04% (1) Average equity is calculated using month end values.
Expense Ratios to Average Equity	Expense Ratios to Average Equity: (1) Year Ended December 31, 2018 Operating expenses, before interest expense and other investment related expenses (2.86)% Incentive fee (0.12)% Interest expense and other investment related expenses (12.03)% Total Expenses (15.01)% (1) Average equity is calculated using month end values.

Condensed Quarterly Financial_2

Condensed Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Quarterly Financial Data (Unaudited) [Abstract]
Quarterly Financial Information [Table Text Block]	Detailed below is unaudited quarterly financial data for the year ended December 31, 2019. Three Month Period Ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 (In thousands except per share amounts) Net Interest Income Interest income $ 36,016 $ 38,547 $ 39,985 $ 45,353 Interest expense (17,618 ) (19,702 ) (19,954 ) (21,205 ) Total net interest income 18,398 18,845 20,031 24,148 Other Income (Loss) Realized gains (losses) on securities and loans, financial derivatives, and real estate owned, net (16,950 ) (12,327 ) (4,827 ) (7,266 ) Unrealized gains (losses) on securities and loans, financial derivatives, and real estate owned, net 20,452 13,300 7,970 6,139 Other, net 2,002 1,808 539 1,001 Total other income (loss) 5,504 2,781 3,682 (126 ) Expenses Base management fee to affiliate (Net of fee rebates of $447, $508, $503, and $509, respectively) (1) 1,722 1,661 1,942 2,663 Incentive fee to affiliate — — — 116 Investment related expenses: Servicing expense 2,393 2,244 1,940 2,055 Debt issuance costs related to Other secured borrowings, at fair value — 1,671 — 1,865 Other 1,083 1,238 1,347 1,941 Professional fees 1,956 1,178 698 1,021 Compensation expense 1,072 903 712 962 Other expenses 985 1,053 1,156 1,160 Total expenses 9,211 9,948 7,795 11,783 Net Income (Loss) before Income Tax Expense and Earnings from Investments in Unconsolidated Entities 14,691 11,678 15,918 12,239 Income tax expense (benefit) — 376 2 1,180 Earnings from investments in unconsolidated entities 1,797 2,354 2,796 3,262 Net Income (Loss) 16,488 13,656 18,712 14,321 Net income (loss) attributable to non-controlling interests 1,080 1,012 1,419 1,733 Dividends on preferred stock — — — 1,466 Net Income (Loss) Attributable to Common Stockholders $ 15,408 $ 12,644 $ 17,293 $ 11,122 Net Income (Loss) per Share of Common Stock: Basic and Diluted (2) $ 0.52 $ 0.43 $ 0.53 $ 0.31 (1) See Note 13 for further details on management fee rebates. (2) For the year ended December 31, 2019 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 17) as a result of changes in the number of shares of common stock outstanding during the year due to issuances of shares of common stock, as EPS is calculated using average shares of common stock outstanding during the period. Detailed below is unaudited quarterly financial data for the year ended December 31, 2018. Three Month Period Ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 (In thousands except per share amounts) INVESTMENT INCOME Interest income (1) $ 28,092 $ 31,941 $ 35,300 $ 35,694 Other income 716 1,094 1,046 1,157 Total investment income 28,808 33,035 36,346 36,851 EXPENSES Base management fee to affiliate (2) 1,978 2,021 1,830 1,744 Incentive fee to affiliate — 291 424 — Interest expense (1) 11,562 13,383 15,678 16,083 Other investment related expenses 2,952 3,771 4,384 4,201 Other operating expenses 2,074 2,578 2,352 4,609 Total expenses 18,566 22,044 24,668 26,637 NET INVESTMENT INCOME 10,242 10,991 11,678 10,214 NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions 13,051 (1,343 ) 10,102 9,578 Change in net unrealized gain (loss) on investments, other secured borrowings, financial derivatives, and foreign currency translation (1,969 ) 12,536 (14,306 ) (20,862 ) NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY 11,082 11,193 (4,204 ) (11,284 ) NET INCREASE (DECREASE) IN EQUITY RESULTING FROM OPERATIONS 21,324 22,184 7,474 (1,070 ) LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 285 991 813 1,147 NET INCREASE (DECREASE) IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS $ 21,039 $ 21,193 $ 6,661 $ (2,217 ) NET INCREASE (DECREASE) IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE: Basic and Diluted (3) $ 0.67 $ 0.69 $ 0.22 $ (0.07 ) (1) Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.9 million , respectively, for the three-month period ended March 31, 2018. Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.8 million , respectively, for the three-month period ended June 30, 2018. Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.7 million , respectively, for the three-month period ended September 30, 2018. Includes interest income and interest expense of a consolidated securitization trust of $2.1 million and $1.2 million , respectively, for the three-month period ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trusts. (2) Net of management fee rebate of $0.3 million , $0.3 million , $0.4 million , and $0.4 million , for the each of the three-month periods ended March 31, 2018, June 30, 2018, September 30, 2018, and December 31, 2018, respectively. See Note 9 for further details on management fee rebates. (3) For the year ended December 31, 2018 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 13) as a result of changes in shares during the year due to repurchases of common shares, as EPS is calculated using average shares outstanding during the period.

Organization and Investment O_2

Organization and Investment Objective (Details) - $ / shares	Dec. 31, 2019	Feb. 28, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common shares	$ 0.001	$ 0.001
Ellington Financial Operating Partnership LLC [Member] | Total Stockholders' Equity
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership Percentage	98.40%		97.60%

Significant Accounting Polici_3

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Number of days to determine non-performance of loan	90 days	90 days
Long-Term Incentive Plan Units [Member] | Director [Member]
Significant Accounting Policies [Line Items]
Vesting period	1 year	1 year
Minimum | Long-Term Incentive Plan Units [Member] | Dedicated or partially dedicated personnel [Member]
Significant Accounting Policies [Line Items]
Vesting period	1 year	1 year
Maximum | Long-Term Incentive Plan Units [Member] | Dedicated or partially dedicated personnel [Member]
Significant Accounting Policies [Line Items]
Vesting period	2 years	2 years

Valuation (Schedule of Financia

Valuation (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)	[1]	$ 2,449,941
Investment in unconsolidated entities, at fair value	[1]	71,850
Financial derivatives–assets, at fair value-		16,788		$ 20,001
Repurchase agreements, at fair value		73,639		61,274
Investments sold short, at fair value-		(73,409)		(850,577)
Financial derivatives–liabilities, at fair value-		(27,621)		(20,806)
Other secured borrowings, at fair value		(594,396)	[1]	(297,948)
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in unconsolidated entities, at fair value		71,850
Total assets		3,951,005		3,020,586
Other secured borrowings, at fair value		(594,396)
Total liabilities		(695,426)		(1,169,331)
Fair Value, Measurements, Recurring | Investments Sold Short
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(850,577)
Fair Value, Measurements, Recurring | Investments Sold Short | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(772,964)
Fair Value, Measurements, Recurring | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(471)
Fair Value, Measurements, Recurring | Investments Sold Short | Government debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(72,938)		(54,151)
Fair Value, Measurements, Recurring | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(6,529)
Fair Value, Measurements, Recurring | Investments Sold Short | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(16,933)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-				(20,806)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(14,524)		(11,557)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,693)		(3,246)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(250)		(2,125)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(8,719)		(3,397)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,012)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(45)		(355)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(169)		(120)
Fair Value, Measurements, Recurring | Financial Derivatives - Liabilities | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,209)		(6)
Fair Value, Measurements, Recurring | Other secured borrowings, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other secured borrowings, at fair value				(297,948)
Fair Value, Measurements, Recurring | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				12,460
Fair Value, Measurements, Recurring | Securities | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,936,963
Fair Value, Measurements, Recurring | Securities | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		166,550
Fair Value, Measurements, Recurring | Securities | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		124,868
Fair Value, Measurements, Recurring | Securities | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		170,443
Fair Value, Measurements, Recurring | Securities | Asset-backed securities, backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		48,610
Fair Value, Measurements, Recurring | Securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,113
Fair Value, Measurements, Recurring | Securities | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,394
Fair Value, Measurements, Recurring | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				2,939,311
Fair Value, Measurements, Recurring | Investments | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,450,217
Fair Value, Measurements, Recurring | Investments | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				302,639
Fair Value, Measurements, Recurring | Investments | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				33,908
Fair Value, Measurements, Recurring | Investments | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				123,893
Fair Value, Measurements, Recurring | Investments | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				22,392
Fair Value, Measurements, Recurring | Investments | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				43,793
Fair Value, Measurements, Recurring | Investments | Secured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				10,917
Fair Value, Measurements, Recurring | Investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				76
Fair Value, Measurements, Recurring | Investments | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				496,830
Fair Value, Measurements, Recurring | Investments | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				211,185
Fair Value, Measurements, Recurring | Investments | Consumer loans and asset-backed securities backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				206,761
Fair Value, Measurements, Recurring | Investments | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				34,500
Fair Value, Measurements, Recurring | Investments | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				2,200
Fair Value, Measurements, Recurring | Loans | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		932,203
Fair Value, Measurements, Recurring | Loans | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		274,759
Fair Value, Measurements, Recurring | Loans | Consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		186,954
Fair Value, Measurements, Recurring | Loans | Corporate loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		18,510
Fair Value, Measurements, Recurring | Financial Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-				20,001
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		993		1,472
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		5,599		733
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		2		2,473
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		3,319		8,092
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		5,468		7,224
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		596
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		148
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		43		6
Fair Value, Measurements, Recurring | Financial Derivatives - Assets | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		620		1
Fair Value, Measurements, Recurring | Repurchase Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreements, at fair value				61,274
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in unconsolidated entities, at fair value		0
Total assets		148		2,200
Other secured borrowings, at fair value		0
Total liabilities		(45)		(17,288)
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(16,933)
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Government debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments Sold Short | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(16,933)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-				(355)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(45)		(355)
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Liabilities | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Other secured borrowings, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other secured borrowings, at fair value				0
Fair Value, Measurements, Recurring | Level 1 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				12,460
Fair Value, Measurements, Recurring | Level 1 | Securities | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | Asset-backed securities, backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Securities | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 1 | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				2,200
Fair Value, Measurements, Recurring | Level 1 | Investments | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Secured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Consumer loans and asset-backed securities backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Investments | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				2,200
Fair Value, Measurements, Recurring | Level 1 | Loans | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Loans | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Loans | Consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Loans | Corporate loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-				0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		148
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Financial Derivatives - Assets | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 1 | Repurchase Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreements, at fair value				0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in unconsolidated entities, at fair value		0
Total assets		2,229,582		1,892,308
Other secured borrowings, at fair value		0
Total liabilities		(100,549)		(854,095)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(833,644)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(772,964)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(471)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Government debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(72,938)		(54,151)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(6,529)
Fair Value, Measurements, Recurring | Level 2 | Investments Sold Short | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-				(20,451)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(14,524)		(11,557)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,693)		(3,246)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(250)		(2,125)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(8,719)		(3,397)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,012)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(169)		(120)
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Liabilities | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(773)		(6)
Fair Value, Measurements, Recurring | Level 2 | Other secured borrowings, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other secured borrowings, at fair value				0
Fair Value, Measurements, Recurring | Level 2 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				0
Fair Value, Measurements, Recurring | Level 2 | Securities | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,917,059
Fair Value, Measurements, Recurring | Level 2 | Securities | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		76,969
Fair Value, Measurements, Recurring | Level 2 | Securities | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		95,063
Fair Value, Measurements, Recurring | Level 2 | Securities | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		125,464
Fair Value, Measurements, Recurring | Level 2 | Securities | Asset-backed securities, backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 2 | Securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 2 | Securities | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		0
Fair Value, Measurements, Recurring | Level 2 | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,812,505
Fair Value, Measurements, Recurring | Level 2 | Investments | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,442,924
Fair Value, Measurements, Recurring | Level 2 | Investments | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				211,348
Fair Value, Measurements, Recurring | Level 2 | Investments | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				33,105
Fair Value, Measurements, Recurring | Level 2 | Investments | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				108,978
Fair Value, Measurements, Recurring | Level 2 | Investments | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				16,074
Fair Value, Measurements, Recurring | Level 2 | Investments | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | Secured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				76
Fair Value, Measurements, Recurring | Level 2 | Investments | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | Consumer loans and asset-backed securities backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Investments | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 2 | Loans | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 2 | Loans | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 2 | Loans | Consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 2 | Loans | Corporate loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-				18,529
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		5,599		733
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		2		2,473
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		3,319		8,092
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		5,468		7,224
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		596
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		43		6
Fair Value, Measurements, Recurring | Level 2 | Financial Derivatives - Assets | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		1
Fair Value, Measurements, Recurring | Level 2 | Repurchase Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreements, at fair value				61,274
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in unconsolidated entities, at fair value		71,850
Total assets		1,721,275		1,126,078
Other secured borrowings, at fair value		(594,396)
Total liabilities		(594,832)		(297,948)
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Government debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Investments Sold Short | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Liabilities | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(436)		0
Fair Value, Measurements, Recurring | Level 3 | Other secured borrowings, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other secured borrowings, at fair value				(297,948)
Fair Value, Measurements, Recurring | Level 3 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				0
Fair Value, Measurements, Recurring | Level 3 | Securities | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		19,904
Fair Value, Measurements, Recurring | Level 3 | Securities | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		89,581
Fair Value, Measurements, Recurring | Level 3 | Securities | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		29,805
Fair Value, Measurements, Recurring | Level 3 | Securities | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		44,979
Fair Value, Measurements, Recurring | Level 3 | Securities | Asset-backed securities, backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		48,610
Fair Value, Measurements, Recurring | Level 3 | Securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,113
Fair Value, Measurements, Recurring | Level 3 | Securities | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities, at fair value(1)		1,394
Fair Value, Measurements, Recurring | Level 3 | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,124,606
Fair Value, Measurements, Recurring | Level 3 | Investments | Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				7,293
Fair Value, Measurements, Recurring | Level 3 | Investments | Non-Agency RMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				91,291
Fair Value, Measurements, Recurring | Level 3 | Investments | CMBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				803
Fair Value, Measurements, Recurring | Level 3 | Investments | CLOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				14,915
Fair Value, Measurements, Recurring | Level 3 | Investments | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				6,318
Fair Value, Measurements, Recurring | Level 3 | Investments | Corporate equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				43,793
Fair Value, Measurements, Recurring | Level 3 | Investments | Secured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				10,917
Fair Value, Measurements, Recurring | Level 3 | Investments | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Investments | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				496,830
Fair Value, Measurements, Recurring | Level 3 | Investments | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				211,185
Fair Value, Measurements, Recurring | Level 3 | Investments | Consumer loans and asset-backed securities backed by consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				206,761
Fair Value, Measurements, Recurring | Level 3 | Investments | Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				34,500
Fair Value, Measurements, Recurring | Level 3 | Investments | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Fair Value, Measurements, Recurring | Level 3 | Loans | Residential mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		932,203
Fair Value, Measurements, Recurring | Level 3 | Loans | Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		274,759
Fair Value, Measurements, Recurring | Level 3 | Loans | Consumer loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		186,954
Fair Value, Measurements, Recurring | Level 3 | Loans | Corporate loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, at fair value		18,510
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-				1,472
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		993		1,472
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on corporate bond indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Credit default swaps on asset-backed indices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | TBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Futures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Forwards
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Fair Value, Measurements, Recurring | Level 3 | Financial Derivatives - Assets | Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		$ 620		0
Fair Value, Measurements, Recurring | Level 3 | Repurchase Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreements, at fair value				$ 0
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Valuation (Schedule of Signific

Valuation (Schedule of Significant Unobservable Inputs, Qualitative Information) (Details) - Level 3	12 Months Ended
	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)
Corporate equity securities | Non-exchange traded preferred equity investment in loan origination entity
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 3,000,000
Total return swaps | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.085
Derivative Liability, Measurement Input	0.277
Total return swaps | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.277
Derivative Liability, Measurement Input	0.277
Total return swaps | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.115
Derivative Liability, Measurement Input	0.277
Valuation, Market Approach | Non-Agency RMBS
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 38,754,000	$ 36,945,000
Valuation, Market Approach | Non-Agency RMBS | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		17.42
Securities, measurement input | $ / shares	6.68
Valuation, Market Approach | Non-Agency RMBS | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		178
Securities, measurement input | $ / shares	144.79
Valuation, Market Approach | Non-Agency RMBS | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		78.31
Securities, measurement input | $ / shares	86.21
Valuation, Market Approach | CMBS
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 29,630,000	$ 576,000
Valuation, Market Approach | CMBS | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		5.93
Securities, measurement input | $ / shares	5.08
Valuation, Market Approach | CMBS | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		6.36
Securities, measurement input | $ / shares	80.72
Valuation, Market Approach | CMBS | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		6.14
Securities, measurement input | $ / shares	64.73
Valuation, Market Approach | Agency RMBS | Interest only securities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 3,753,000	$ 744,000
Valuation, Market Approach | Agency RMBS | Interest only securities | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		1.70
Securities, measurement input | $ / shares	1.36
Valuation, Market Approach | Agency RMBS | Interest only securities | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		9.12
Securities, measurement input | $ / shares	16.61
Valuation, Market Approach | Agency RMBS | Interest only securities | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		5.64
Securities, measurement input | $ / shares	5.11
Valuation, Market Approach | CLOs
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 38,220,000	$ 5,828,000
Valuation, Market Approach | CLOs | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		2.64
Securities, measurement input | $ / shares	40
Valuation, Market Approach | CLOs | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		375
Securities, measurement input | $ / shares	96
Valuation, Market Approach | CLOs | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		167.78
Securities, measurement input | $ / shares	73.98
Valuation, Market Approach | Corporate debt, non-exchange traded corporate equity, and secured notes [Member]
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 13,976,000
Valuation, Market Approach | Corporate debt, non-exchange traded corporate equity, and secured notes [Member] | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		9.69
Valuation, Market Approach | Corporate debt, non-exchange traded corporate equity, and secured notes [Member] | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		91
Valuation, Market Approach | Corporate debt, non-exchange traded corporate equity, and secured notes [Member] | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		59.18
Valuation, Market Approach | Asset-backed securities, backed by consumer loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 139,000
Valuation, Market Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	95.47
Valuation, Market Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	96.78
Valuation, Market Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	96.12
Valuation, Market Approach | Corporate loan [Member]
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 6,010,000
Valuation, Market Approach | Corporate loan [Member] | Measurement Input, Quoted Price | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	100
Valuation, Market Approach | Corporate loan [Member] | Measurement Input, Quoted Price | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	100
Valuation, Market Approach | Corporate loan [Member] | Measurement Input, Quoted Price | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input | $ / shares	100
Valuation, Income Approach | Non-Agency RMBS
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 50,827,000	$ 54,346,000
Valuation, Income Approach | Non-Agency RMBS | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%	100.00%
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.50%
Securities, measurement input	0.033
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		66.10%
Securities, measurement input	0.609
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		10.70%
Securities, measurement input	0.100
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		16.00%
Securities, measurement input	0.008
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		92.10%
Securities, measurement input	0.720
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		50.40%
Securities, measurement input	0.493
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		0.00%
Securities, measurement input	0
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		23.10%
Securities, measurement input	0.227
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		8.70%
Securities, measurement input	0.066
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Projected Collateral Recoveries | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		1.50%
Securities, measurement input	0
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Projected Collateral Recoveries | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		14.60%
Securities, measurement input	0.324
Valuation, Income Approach | Non-Agency RMBS | Measurement Input, Projected Collateral Recoveries | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		7.30%
Securities, measurement input	0.069
Valuation, Income Approach | Non-Agency RMBS | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.10%
Securities, measurement input	0.169
Valuation, Income Approach | Non-Agency RMBS | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		61.80%
Securities, measurement input	0.929
Valuation, Income Approach | Non-Agency RMBS | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		33.60%
Securities, measurement input	0.372
Valuation, Income Approach | CMBS
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 175,000	$ 227,000
Valuation, Income Approach | CMBS | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%	100.00%
Valuation, Income Approach | CMBS | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.40%
Securities, measurement input	0.100
Valuation, Income Approach | CMBS | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.40%
Securities, measurement input	0.100
Valuation, Income Approach | CMBS | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.40%
Securities, measurement input	0.100
Valuation, Income Approach | CMBS | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	1
Valuation, Income Approach | CMBS | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	1
Valuation, Income Approach | CMBS | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	1
Valuation, Income Approach | CMBS | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.00%
Valuation, Income Approach | CMBS | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.00%
Valuation, Income Approach | CMBS | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.00%
Valuation, Income Approach | CMBS | Measurement Input, Projected Collateral Recoveries | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.60%
Valuation, Income Approach | CMBS | Measurement Input, Projected Collateral Recoveries | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.60%
Valuation, Income Approach | CMBS | Measurement Input, Projected Collateral Recoveries | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.60%
Valuation, Income Approach | CMBS | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		91.40%
Valuation, Income Approach | CMBS | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		91.40%
Valuation, Income Approach | CMBS | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		91.40%
Valuation, Income Approach | Agency RMBS | Interest only securities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 16,151,000	$ 6,549,000
Valuation, Income Approach | Agency RMBS | Interest only securities | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.11%
Valuation, Income Approach | Agency RMBS | Interest only securities | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		35.21%
Valuation, Income Approach | Agency RMBS | Interest only securities | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.77%
Total outstanding collateral	100.00%	100.00%
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, LIBOR OAS | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.0093
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, LIBOR OAS | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.3527
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, LIBOR OAS | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.0701
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		37.70%
Securities, measurement input	0.123
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		100.00%
Securities, measurement input	1
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		66.20%
Securities, measurement input	0.723
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		0.00%
Securities, measurement input	0
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		62.30%
Securities, measurement input	0.877
Valuation, Income Approach | Agency RMBS | Interest only securities | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		33.80%
Securities, measurement input	0.277
Valuation, Income Approach | Corporate Debt and non-exchange traded corporate equity [Member]
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 4,793,000
Valuation, Income Approach | Corporate Debt and non-exchange traded corporate equity [Member] | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		17.50%
Valuation, Income Approach | Corporate Debt and non-exchange traded corporate equity [Member] | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		17.50%
Valuation, Income Approach | Corporate Debt and non-exchange traded corporate equity [Member] | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		17.50%
Valuation, Income Approach | Corporate debt and equity
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 2,507,000
Valuation, Income Approach | Corporate debt and equity | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.100
Valuation, Income Approach | Corporate debt and equity | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.100
Valuation, Income Approach | Corporate debt and equity | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.100
Valuation, Income Approach | Investment in unconsolidated entities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 30,458,000
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	0.037
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	0.148
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	0.099
Valuation, Income Approach | CLOs
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 6,759,000	$ 9,087,000
Valuation, Income Approach | CLOs | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%	100.00%
Valuation, Income Approach | CLOs | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		12.60%
Securities, measurement input	0.140
Valuation, Income Approach | CLOs | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		103.10%
Securities, measurement input	0.419
Valuation, Income Approach | CLOs | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		26.70%
Securities, measurement input	0.262
Valuation, Income Approach | CLOs | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		8.10%
Securities, measurement input	0.485
Valuation, Income Approach | CLOs | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		88.40%
Securities, measurement input	0.846
Valuation, Income Approach | CLOs | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		65.20%
Securities, measurement input	0.725
Valuation, Income Approach | CLOs | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.70%
Securities, measurement input	0.117
Valuation, Income Approach | CLOs | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		40.80%
Securities, measurement input	0.364
Valuation, Income Approach | CLOs | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		13.50%
Securities, measurement input	0.199
Valuation, Income Approach | CLOs | Measurement Input, Projected Collateral Recoveries | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		4.20%
Securities, measurement input	0.037
Valuation, Income Approach | CLOs | Measurement Input, Projected Collateral Recoveries | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		38.00%
Securities, measurement input	0.151
Valuation, Income Approach | CLOs | Measurement Input, Projected Collateral Recoveries | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		11.90%
Securities, measurement input	0.076
Valuation, Income Approach | CLOs | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		3.50%
Valuation, Income Approach | CLOs | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		13.50%
Valuation, Income Approach | CLOs | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		9.40%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 206,761,000
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral		100.00%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		7.00%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		18.30%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		8.50%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		0.00%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		45.90%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		33.50%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.60%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		84.80%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		9.10%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		15.20%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		96.60%
Valuation, Income Approach | Consumer loans and asset-backed securities backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		57.40%
Valuation, Income Approach | Asset-backed securities, backed by consumer loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 48,471,000
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.120
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.202
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.121
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.112
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.097
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.006
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.180
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.154
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.713
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.994
Valuation, Income Approach | Asset-backed securities, backed by consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.749
Valuation, Income Approach | Consumer loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 186,954,000
Valuation, Income Approach | Consumer loans | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%
Valuation, Income Approach | Consumer loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.070
Valuation, Income Approach | Consumer loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.100
Valuation, Income Approach | Consumer loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.081
Valuation, Income Approach | Consumer loans | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0
Valuation, Income Approach | Consumer loans | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.442
Valuation, Income Approach | Consumer loans | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.160
Valuation, Income Approach | Consumer loans | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.030
Valuation, Income Approach | Consumer loans | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.845
Valuation, Income Approach | Consumer loans | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.086
Valuation, Income Approach | Consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.155
Valuation, Income Approach | Consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.958
Valuation, Income Approach | Consumer loans | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.754
Valuation, Income Approach | Corporate loan [Member]
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 12,500,000
Valuation, Income Approach | Corporate loan [Member] | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.150
Valuation, Income Approach | Corporate loan [Member] | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.180
Valuation, Income Approach | Corporate loan [Member] | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.168
Valuation, Income Approach | Performing commercial mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 163,876,000
Valuation, Income Approach | Performing commercial mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		8.00%
Valuation, Income Approach | Performing commercial mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		22.50%
Valuation, Income Approach | Performing commercial mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		9.60%
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 80,513,000
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		3 months
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		16 months
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		7 months 27 days
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		9.60%
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		27.40%
Valuation, Income Approach | Non-performing commercial mortgage loans and commercial real estate owned | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		13.20%
Valuation, Income Approach | Performing residential mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 171,367,000
Valuation, Income Approach | Performing residential mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		2.70%
Valuation, Income Approach | Performing residential mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		12.90%
Valuation, Income Approach | Performing residential mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		6.00%
Valuation, Income Approach | Securitized residential mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 314,202,000
Valuation, Income Approach | Securitized residential mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		4.30%
Valuation, Income Approach | Securitized residential mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		4.60%
Valuation, Income Approach | Securitized residential mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		4.60%
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 12,557,000
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		1 month 27 days
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		42 months 6 days
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time		27 months 24 days
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		4.30%
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		25.10%
Valuation, Income Approach | Non-performing residential mortgage loans and residential real estate owned | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		11.30%
Valuation, Income Approach | Credit default swaps on asset-backed securities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 993,000	$ 1,472,000
Valuation, Income Approach | Credit default swaps on asset-backed securities | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Total outstanding collateral	100.00%	100.00%
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Prepayment Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		33.60%
Derivative asset, measurement input	0.354
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Prepayment Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		42.00%
Derivative asset, measurement input	0.420
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Prepayment Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		36.50%
Derivative asset, measurement input	0.373
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Default Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		11.10%
Derivative asset, measurement input	0.042
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Default Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		15.60%
Derivative asset, measurement input	0.124
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Default Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		12.80%
Derivative asset, measurement input	0.102
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Projected Collateral Recoveries | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		10.30%
Derivative asset, measurement input	0.100
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Projected Collateral Recoveries | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		18.70%
Derivative asset, measurement input	0.182
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement Input, Projected Collateral Recoveries | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		15.80%
Derivative asset, measurement input	0.153
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement input, Projected Collateral Scheduled Amortization | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		32.00%
Derivative asset, measurement input	0.362
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement input, Projected Collateral Scheduled Amortization | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		36.50%
Derivative asset, measurement input	0.415
Valuation, Income Approach | Credit default swaps on asset-backed securities | Measurement input, Projected Collateral Scheduled Amortization | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		34.90%
Derivative asset, measurement input	0.372
Valuation, Income Approach | Total return swaps
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 620,000
Fair value	(436,000)
Valuation, Income Approach | Investment in unconsolidated entities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 5,192,000
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		12.90%
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		16.10%
Valuation, Income Approach | Investment in unconsolidated entities | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, percent		15.40%
Valuation, Income Approach | Other secured borrowings, at fair value
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ (594,396,000)	$ (297,948,000)
Valuation, Income Approach | Other secured borrowings, at fair value | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Debt, measurement input		3.90%
Debt instrument, measurement input	0.029
Valuation, Income Approach | Other secured borrowings, at fair value | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Debt, measurement input		4.40%
Debt instrument, measurement input	0.040
Valuation, Income Approach | Other secured borrowings, at fair value | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Debt, measurement input		4.30%
Debt instrument, measurement input	0.033
Enterprise Value | Investment in unconsolidated entities
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 41,392,000
Enterprise Value | Investment in unconsolidated entities | Measurement Input, Equity Price-to-Book | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	1
Enterprise Value | Investment in unconsolidated entities | Measurement Input, Equity Price-to-Book | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	4.7
Enterprise Value | Investment in unconsolidated entities | Measurement Input, Equity Price-to-Book | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Equity method investment, measurement input	1.7
Enterprise Value | Corporate equity securities | Non-exchange traded common equity investment in mortgage-related entity
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 6,750,000
Enterprise Value | Corporate equity securities | Non-exchange traded common equity investment in mortgage-related entity | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		3.3
Enterprise Value | Corporate equity securities | Non-exchange traded common equity investment in mortgage-related entity | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		3.3
Enterprise Value | Corporate equity securities | Non-exchange traded common equity investment in mortgage-related entity | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		3.3
Enterprise Value | Corporate equity securities | Non-exchange traded preferred equity investment in mortgage-related entity
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value		$ 27,317,000
Enterprise Value | Corporate equity securities | Non-exchange traded preferred equity investment in mortgage-related entity | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		1.1
Enterprise Value | Corporate equity securities | Non-exchange traded preferred equity investment in mortgage-related entity | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		1.1
Enterprise Value | Corporate equity securities | Non-exchange traded preferred equity investment in mortgage-related entity | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input		1.1
Performing and/or Re-performing | Residential mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.016
Performing and/or Re-performing | Residential mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.195
Performing and/or Re-performing | Residential mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.062
Performing and/or Re-performing | Valuation, Income Approach | Commercial mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 248,214,000
Performing and/or Re-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.077
Performing and/or Re-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.166
Performing and/or Re-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.088
Performing and/or Re-performing | Valuation, Income Approach | Residential mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 289,672,000
Securitized loans [Member] | Valuation, Income Approach | Residential mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 628,415,000
Securitized loans [Member] | Valuation, Income Approach | Residential mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.032
Securitized loans [Member] | Valuation, Income Approach | Residential mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.043
Securitized loans [Member] | Valuation, Income Approach | Residential mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.036
Non-performing | Residential mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.010
Non-performing | Residential mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.266
Non-performing | Residential mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.091
Non-performing | Valuation, Income Approach | Commercial mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 26,545,000
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	1 month 3 days
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	23 months
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	11 months 12 days
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.098
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.147
Non-performing | Valuation, Income Approach | Commercial mortgage loans | Measurement Input, Discount Rate | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Loans, Measurement Input	0.124
Non-performing | Valuation, Income Approach | Residential mortgage loans
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Fair value	$ 14,116,000
Non-performing | Valuation, Income Approach | Residential mortgage loans | Minimum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	1 month 3 days
Non-performing | Valuation, Income Approach | Residential mortgage loans | Maximum
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	165 months 12 days
Non-performing | Valuation, Income Approach | Residential mortgage loans | Weighted Average
Fair Value Measurements Inputs and Valuation Techniques [Line Items]
Investment, measurement input, recovery time	54 months 18 days

Valuation (Significant Unobserv

Valuation (Significant Unobservable Inputs Rollforward) (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	$ 1,094,816
Assets, Accreted Discounts/Amortized Premiums	(40,792)
Assets, Realized Gain (Loss)	(3,380)
Assets, Change In Net Unrealized Gain/(Loss)	18,989
Assets, Purchases	1,229,160
Assets, Sales	(603,883)
Assets, Transfers into Level 3	35,567
Assets, Transfers out of Level 3	(9,202)
Assets, Ending Balance	1,721,275	$ 1,094,816
Liabilities, Begining Balance	(297,948)	(125,105)
Liabilities, Accreted Discounts/Amortized Premiums	0	0
Liabilities, Realized Gain/(Loss)	(15)	0
Liabilities, Change In Net Unrealized Gain/(Loss)	(938)	758
Liabilities Purchases/Payments	182,306	49,731
Liabilities, Sales/Issuance	(478,237)	223,332
Liabilities, Transfers into Level 3	0	0
Liabilities, Transfers out of Level 3	0	0
Liabilities, Ending Balance	(594,832)	(297,948)
Other secured borrowings, at fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	(297,948)	(125,105)
Liabilities, Accreted Discounts/Amortized Premiums	0	0
Liabilities, Realized Gain/(Loss)	0	0
Liabilities, Change In Net Unrealized Gain/(Loss)	(502)	758
Liabilities, Payments	182,291	49,731
Liabilities, Issuances	(478,237)	(223,332)
Liabilities, Transfers into Level 3	0	0
Liabilities, Transfers out of Level 3	0	0
Liabilities, Ending Balance	(594,396)	(297,948)
Change in unrealized gains (losses), liabilities	100	800
Financial Derivatives - Liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gains (losses), liabilities	(400)
Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gain (loss), assets	2,400
Securities | Agency RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	7,293
Assets, Accreted Discounts/Amortized Premiums	(3,464)
Assets, Realized Gain (Loss)	(1,787)
Assets, Change In Net Unrealized Gain/(Loss)	808
Assets, Purchases	13,818
Assets, Sales	(1,306)
Assets, Transfers into Level 3	5,370
Assets, Transfers out of Level 3	(828)
Assets, Ending Balance	19,904	7,293
Securities | Non-Agency RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	91,291
Assets, Accreted Discounts/Amortized Premiums	270
Assets, Realized Gain (Loss)	5,636
Assets, Change In Net Unrealized Gain/(Loss)	(3,654)
Assets, Purchases	21,512
Assets, Sales	(33,664)
Assets, Transfers into Level 3	15,354
Assets, Transfers out of Level 3	(7,164)
Assets, Ending Balance	89,581	91,291
Securities | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	803
Assets, Accreted Discounts/Amortized Premiums	16
Assets, Realized Gain (Loss)	180
Assets, Change In Net Unrealized Gain/(Loss)	(246)
Assets, Purchases	31,464
Assets, Sales	(5,271)
Assets, Transfers into Level 3	2,859
Assets, Transfers out of Level 3	0
Assets, Ending Balance	29,805	803
Securities | CLOs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	14,915
Assets, Accreted Discounts/Amortized Premiums	(268)
Assets, Realized Gain (Loss)	(3,190)
Assets, Change In Net Unrealized Gain/(Loss)	2,329
Assets, Purchases	25,531
Assets, Sales	(5,112)
Assets, Transfers into Level 3	11,984
Assets, Transfers out of Level 3	(1,210)
Assets, Ending Balance	44,979	14,915
Securities | Asset-backed securities, backed by consumer loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	22,800
Assets, Accreted Discounts/Amortized Premiums	(2,520)
Assets, Realized Gain (Loss)	(891)
Assets, Change In Net Unrealized Gain/(Loss)	873
Assets, Purchases	42,137
Assets, Sales	(13,789)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	48,610	22,800
Securities | Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	6,318
Assets, Accreted Discounts/Amortized Premiums	22
Assets, Realized Gain (Loss)	(1,341)
Assets, Change In Net Unrealized Gain/(Loss)	188
Assets, Purchases	11,024
Assets, Sales	(15,098)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	1,113	6,318
Securities | Corporate equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	1,534
Assets, Accreted Discounts/Amortized Premiums	0
Assets, Realized Gain (Loss)	(1,807)
Assets, Change In Net Unrealized Gain/(Loss)	205
Assets, Purchases	1,462
Assets, Sales	0
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	1,394	1,534
Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	1,124,606	658,448
Assets, Accreted Discounts/Amortized Premiums		(32,013)
Assets, Realized Gain (Loss)		16,205
Assets, Change In Net Unrealized Gain/(Loss)		3,821
Assets, Purchases		937,544
Assets, Sales		(438,411)
Assets, Transfers into Level 3		13,649
Assets, Transfers out of Level 3		(34,637)
Assets, Ending Balance		1,124,606
Change in unrealized gain (loss), assets		5,300
Investments | Agency RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	7,293	6,173
Assets, Accreted Discounts/Amortized Premiums		(2,233)
Assets, Realized Gain (Loss)		(10)
Assets, Change In Net Unrealized Gain/(Loss)		175
Assets, Purchases		2,753
Assets, Sales		(1,169)
Assets, Transfers into Level 3		2,616
Assets, Transfers out of Level 3		(1,012)
Assets, Ending Balance		7,293
Investments | Non-Agency RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	91,291	101,297
Assets, Accreted Discounts/Amortized Premiums		383
Assets, Realized Gain (Loss)		1,838
Assets, Change In Net Unrealized Gain/(Loss)		(2,135)
Assets, Purchases		75,685
Assets, Sales		(78,487)
Assets, Transfers into Level 3		7,074
Assets, Transfers out of Level 3		(14,364)
Assets, Ending Balance		91,291
Investments | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	803	12,347
Assets, Accreted Discounts/Amortized Premiums		(243)
Assets, Realized Gain (Loss)		2,229
Assets, Change In Net Unrealized Gain/(Loss)		2,120
Assets, Purchases		1,481
Assets, Sales		(16,896)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		(235)
Assets, Ending Balance		803
Investments | CLOs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	14,915	24,911
Assets, Accreted Discounts/Amortized Premiums		(351)
Assets, Realized Gain (Loss)		317
Assets, Change In Net Unrealized Gain/(Loss)		(2,268)
Assets, Purchases		33,549
Assets, Sales		(33,115)
Assets, Transfers into Level 3		3,959
Assets, Transfers out of Level 3		(12,087)
Assets, Ending Balance		14,915
Investments | Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	6,318	23,947
Assets, Accreted Discounts/Amortized Premiums		56
Assets, Realized Gain (Loss)		241
Assets, Change In Net Unrealized Gain/(Loss)		(964)
Assets, Purchases		7,665
Assets, Sales		(17,688)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		(6,939)
Assets, Ending Balance		6,318
Investments | Secured notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	10,917	0
Assets, Accreted Discounts/Amortized Premiums		870
Assets, Realized Gain (Loss)		0
Assets, Change In Net Unrealized Gain/(Loss)		(1,221)
Assets, Purchases		11,268
Assets, Sales		0
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		10,917
Investments | Corporate equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	43,793	37,465
Assets, Accreted Discounts/Amortized Premiums		0
Assets, Realized Gain (Loss)		1,671
Assets, Change In Net Unrealized Gain/(Loss)		8,299
Assets, Purchases		12,708
Assets, Sales		(16,350)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		43,793
Investments | Residential mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	496,830	182,472
Assets, Accreted Discounts/Amortized Premiums		(1,965)
Assets, Realized Gain (Loss)		1,011
Assets, Change In Net Unrealized Gain/(Loss)		(34)
Assets, Purchases		402,235
Assets, Sales		(86,889)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		496,830
Investments | Commercial mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance		108,301
Assets, Accreted Discounts/Amortized Premiums		790
Assets, Realized Gain (Loss)		1,146
Assets, Change In Net Unrealized Gain/(Loss)		1,944
Assets, Purchases		149,053
Assets, Sales		(50,049)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Investments | Consumer loans and asset-backed securities backed by consumer loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	206,761	135,258
Assets, Accreted Discounts/Amortized Premiums		(29,320)
Assets, Realized Gain (Loss)		8,415
Assets, Change In Net Unrealized Gain/(Loss)		(1,092)
Assets, Purchases		228,354
Assets, Sales		(134,854)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		206,761
Investments | Real estate owned
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	34,500	26,277
Assets, Accreted Discounts/Amortized Premiums		0
Assets, Realized Gain (Loss)		(653)
Assets, Change In Net Unrealized Gain/(Loss)		(1,003)
Assets, Purchases		12,793
Assets, Sales		(2,914)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		34,500
Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gain (loss), assets	11,500
Loans | Residential mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	496,830
Assets, Accreted Discounts/Amortized Premiums	(6,081)
Assets, Realized Gain (Loss)	1,466
Assets, Change In Net Unrealized Gain/(Loss)	8,800
Assets, Purchases	661,813
Assets, Sales	(230,625)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	932,203	496,830
Loans | Commercial mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	195,301
Assets, Accreted Discounts/Amortized Premiums	(282)
Assets, Realized Gain (Loss)	2,412
Assets, Change In Net Unrealized Gain/(Loss)	(2,083)
Assets, Purchases	175,689
Assets, Sales	(96,278)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	274,759	195,301
Loans | Consumer loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	183,961
Assets, Accreted Discounts/Amortized Premiums	(28,521)
Assets, Realized Gain (Loss)	(6,291)
Assets, Change In Net Unrealized Gain/(Loss)	3,000
Assets, Purchases	183,994
Assets, Sales	(149,189)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	186,954	183,961
Loans | Corporate loan [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	0
Assets, Accreted Discounts/Amortized Premiums	36
Assets, Realized Gain (Loss)	0
Assets, Change In Net Unrealized Gain/(Loss)	(36)
Assets, Purchases	18,510
Assets, Sales	0
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	18,510	0
Investment in unconsolidated entities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	72,298
Assets, Accreted Discounts/Amortized Premiums	0
Assets, Realized Gain (Loss)	1,545
Assets, Change In Net Unrealized Gain/(Loss)	8,664
Assets, Purchases	42,173
Assets, Sales	(52,830)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	71,850	72,298
Change in unrealized gain (loss), assets	5,200
Financial Derivatives - Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	1,472	3,140
Assets, Accreted Discounts/Amortized Premiums		0
Assets, Realized Gain (Loss)		(687)
Assets, Change In Net Unrealized Gain/(Loss)		715
Assets, Purchases		102
Assets, Sales		(1,798)
Assets, Transfers into Level 3		0
Assets, Transfers out of Level 3		0
Assets, Ending Balance		1,472
Change in unrealized gain (loss), assets	100	(600)
Financial Derivatives - Assets | Total return swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	0
Assets, Accreted Discounts/Amortized Premiums	0
Assets, Realized Gain (Loss)	160
Assets, Change In Net Unrealized Gain/(Loss)	620
Assets, Purchases	0
Assets, Sales	(160)
Assets, Transfers into Level 3	0
Assets, Transfers out of Level 3	0
Assets, Ending Balance	620	0
Financial Derivatives - Assets | Credit default swaps on asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	1,472	3,140
Assets, Accreted Discounts/Amortized Premiums	0	0
Assets, Realized Gain (Loss)	528	(687)
Assets, Change In Net Unrealized Gain/(Loss)	(479)	715
Assets, Purchases	33	102
Assets, Sales	(561)	(1,798)
Assets, Transfers into Level 3	0	0
Assets, Transfers out of Level 3	0	0
Assets, Ending Balance	993	1,472
Financial Derivatives - Liabilities | Total return swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	0
Liabilities, Accreted Discounts/Amortized Premiums	0
Liabilities, Realized Gain/(Loss)	(15)
Liabilities, Change In Net Unrealized Gain/(Loss)	(436)
Liabilities, Payments	15
Liabilities, Issuances	0
Liabilities, Transfers into Level 3	0
Liabilities, Transfers out of Level 3	0
Liabilities, Ending Balance	(436)	0
Previous Accounting Guidance [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	1,126,078	661,588
Assets, Accreted Discounts/Amortized Premiums		(32,013)
Assets, Realized Gain (Loss)		15,518
Assets, Change In Net Unrealized Gain/(Loss)		4,536
Assets, Purchases		937,646
Assets, Sales		(440,209)
Assets, Transfers into Level 3		13,649
Assets, Transfers out of Level 3		(34,637)
Assets, Ending Balance		1,126,078
Previous Accounting Guidance [Member] | Investments | Commercial mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	$ 211,185
Assets, Ending Balance		$ 211,185

Valuation (Narrative) (Details)

Valuation (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Fair Value		$ 86
Level 3 | Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	$ 2.4
Level 3 | Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	11.5
Level 3 | Investment in unconsolidated entities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	5.2
Level 3 | Financial Derivatives - Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	0.1	(0.6)
Level 3 | Other secured borrowings, at fair value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	0.1	$ 0.8
Level 3 | Financial Derivatives - Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in unrealized gains (losses)	$ (0.4)

Valuation (Fair Value of Other

Valuation (Fair Value of Other Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Dec. 31, 2018
Assets:
Cash and cash equivalents	$ 72,302	[1]	$ 44,656
Restricted cash			425
Due from brokers	79,829	[1]	71,794
Repurchase agreements, at fair value	73,639		61,274
Liabilities:
Repurchase agreements	2,445,300	[1]	1,498,849
Other secured borrowings	150,334	[1]	114,100
Senior notes, net	85,298		85,035
Due to brokers	2,197		$ 5,553
Fair Value
Assets:
Cash and cash equivalents	72,302
Restricted cash	175
Due from brokers	79,829
Repurchase agreements, at fair value	73,639
Liabilities:
Repurchase agreements	2,445,300
Other secured borrowings	150,334
Senior notes, net	88,365
Due to brokers	2,197
Carrying Value
Assets:
Cash and cash equivalents	72,302
Restricted cash	175
Due from brokers	79,829
Repurchase agreements, at fair value	73,639
Liabilities:
Repurchase agreements	2,445,300
Other secured borrowings	150,334
Senior notes, net	85,298
Due to brokers	$ 2,197
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Securities (Summa

Investment in Securities (Summary of Investment in Securities) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Securities, Available-for-sale [Line Items]
Current Principal		$ 2,282,149
Unamortized Premium (Discount)		(150,821)
Amortized Cost		2,342,369
Gross Unrealized Gains		43,801
Gross Unrealized Losses		(9,638)
Investment Owned At Fair Value, Net		2,376,532
Securities, at fair value(1)	[1]	2,449,941
Securities sold short, at fair value		$ (73,409)	$ (850,577)
Fair Value			$ 2,939,311
Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		4.23%
Weighted Average Yield		4.01%
Weighted average life		5 years 10 months 24 days
Long
Securities, Available-for-sale [Line Items]
Current Principal		$ 2,355,498
Unamortized Premium (Discount)		(151,329)
Amortized Cost		2,415,210
Gross Unrealized Gains		43,738
Gross Unrealized Losses		(9,007)
Securities, at fair value(1)		$ 2,449,941
Long | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		4.15%
Weighted Average Yield		4.09%
Weighted average life		5 years 10 months 17 days
Long | 15-year fixed-rate mortgages
Securities, Available-for-sale [Line Items]
Current Principal		$ 314,636
Unamortized Premium (Discount)		6,369
Amortized Cost		321,005
Gross Unrealized Gains		2,604
Gross Unrealized Losses		(203)
Securities, at fair value(1)		$ 323,406
Long | 15-year fixed-rate mortgages | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		3.05%
Weighted Average Yield		2.28%
Weighted average life		3 years 18 days
Long | 20-year fixed-rate mortgages
Securities, Available-for-sale [Line Items]
Current Principal		$ 804
Unamortized Premium (Discount)		49
Amortized Cost		853
Gross Unrealized Gains		24
Gross Unrealized Losses		0
Securities, at fair value(1)		$ 877
Long | 20-year fixed-rate mortgages | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		4.62%
Weighted Average Yield		2.99%
Weighted average life		4 years 9 months 18 days
Long | 30-year fixed-rate mortgages
Securities, Available-for-sale [Line Items]
Current Principal		$ 1,358,762
Unamortized Premium (Discount)		64,846
Amortized Cost		1,423,608
Gross Unrealized Gains		13,821
Gross Unrealized Losses		(2,830)
Securities, at fair value(1)		$ 1,434,599
Long | 30-year fixed-rate mortgages | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		4.20%
Weighted Average Yield		2.95%
Weighted average life		6 years 7 months 17 days
Long | Adjustable rate mortgages
Securities, Available-for-sale [Line Items]
Current Principal		$ 9,651
Unamortized Premium (Discount)		315
Amortized Cost		9,966
Gross Unrealized Gains		90
Gross Unrealized Losses		(54)
Securities, at fair value(1)		$ 10,002
Long | Adjustable rate mortgages | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		3.99%
Weighted Average Yield		2.03%
Weighted average life		4 years 1 month 2 days
Long | Reverse mortgages
Securities, Available-for-sale [Line Items]
Current Principal		$ 122,670
Unamortized Premium (Discount)		8,133
Amortized Cost		130,803
Gross Unrealized Gains		2,023
Gross Unrealized Losses		(26)
Securities, at fair value(1)		$ 132,800
Long | Reverse mortgages | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		4.43%
Weighted Average Yield		2.78%
Weighted average life		6 years 8 months 1 day
Long | Interest only securities
Securities, Available-for-sale [Line Items]
Amortized Cost		$ 34,044
Gross Unrealized Gains		1,624
Gross Unrealized Losses		(389)
Securities, at fair value(1)		$ 35,279
Long | Interest only securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		2.81%
Weighted Average Yield		9.27%
Weighted average life		3 years 10 months 9 days
Long | Non-Agency RMBS
Securities, Available-for-sale [Line Items]
Current Principal		$ 274,353
Unamortized Premium (Discount)		(122,685)
Amortized Cost		151,668
Gross Unrealized Gains		12,549
Gross Unrealized Losses		(1,081)
Securities, at fair value(1)		$ 163,136
Long | Non-Agency RMBS | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		3.41%
Weighted Average Yield		7.25%
Weighted average life		5 years 3 months 21 days
Long | CMBS
Securities, Available-for-sale [Line Items]
Current Principal		$ 185,417
Unamortized Premium (Discount)		(67,961)
Amortized Cost		117,456
Gross Unrealized Gains		2,990
Gross Unrealized Losses		(480)
Securities, at fair value(1)		$ 119,966
Long | CMBS | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		3.31%
Weighted Average Yield		6.62%
Weighted average life		8 years 11 months 8 days
Long | Non-Agency IOs
Securities, Available-for-sale [Line Items]
Amortized Cost		$ 6,517
Gross Unrealized Gains		1,817
Gross Unrealized Losses		(18)
Securities, at fair value(1)		$ 8,316
Long | Non-Agency IOs | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		1.10%
Weighted Average Yield		8.18%
Weighted average life		4 years 1 month 20 days
Long | CLOs
Securities, Available-for-sale [Line Items]
Amortized Cost		$ 169,238
Gross Unrealized Gains		4,219
Gross Unrealized Losses		(3,014)
Securities, at fair value(1)		$ 170,443
Long | CLOs | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		5.05%
Weighted Average Yield		9.62%
Weighted average life		4 years 9 months
Long | Asset-backed securities, backed by consumer loans
Securities, Available-for-sale [Line Items]
Current Principal		$ 67,080
Unamortized Premium (Discount)		(19,154)
Amortized Cost		47,926
Gross Unrealized Gains		1,596
Gross Unrealized Losses		(912)
Securities, at fair value(1)		$ 48,610
Long | Asset-backed securities, backed by consumer loans | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		12.17%
Weighted Average Yield		14.00%
Weighted average life		1 year 2 months 19 days
Long | Corporate debt securities
Securities, Available-for-sale [Line Items]
Current Principal		$ 22,125
Unamortized Premium (Discount)		(21,241)
Amortized Cost		884
Gross Unrealized Gains		229
Gross Unrealized Losses		0
Securities, at fair value(1)		$ 1,113
Long | Corporate debt securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		0.00%
Weighted Average Yield		0.00%
Weighted average life		3 months 29 days
Long | Corporate equity securities
Securities, Available-for-sale [Line Items]
Amortized Cost		$ 1,242
Securities, at fair value(1)		1,394
Corporate equity, gross unrealized gains		152
Corporate equity, gross unrealized losses		0
Short
Securities, Available-for-sale [Line Items]
Current Principal		(73,349)
Unamortized Premium (Discount)		508
Investment Sold, Not yet Purchased, Sale Proceeds		(72,841)
Gross Unrealized Gains		63
Gross Unrealized Losses		(631)
Securities sold short, at fair value		$ (73,409)
Short | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		1.65%
Weighted Average Yield		1.66%
Weighted average life		5 years 5 months 26 days
Short | Corporate debt securities
Securities, Available-for-sale [Line Items]
Current Principal		$ (450)
Unamortized Premium (Discount)		(6)
Investment Sold, Not yet Purchased, Sale Proceeds		(456)
Gross Unrealized Gains		0
Gross Unrealized Losses		(15)
Securities sold short, at fair value		$ (471)
Short | Corporate debt securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		5.44%
Weighted Average Yield		5.21%
Weighted average life		4 years 10 months 24 days
Short | U.S. Treasury securities
Securities, Available-for-sale [Line Items]
Current Principal		$ (63,140)
Unamortized Premium (Discount)		381
Investment Sold, Not yet Purchased, Sale Proceeds		(62,759)
Gross Unrealized Gains		63
Gross Unrealized Losses		(298)
Securities sold short, at fair value		$ (62,994)
Short | U.S. Treasury securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		1.76%
Weighted Average Yield		1.87%
Weighted average life		6 years 1 month 9 days
Short | European sovereign bonds
Securities, Available-for-sale [Line Items]
Current Principal		$ (9,759)
Unamortized Premium (Discount)		133
Investment Sold, Not yet Purchased, Sale Proceeds		(9,626)
Gross Unrealized Gains		0
Gross Unrealized Losses		(318)
Securities sold short, at fair value		$ (9,944)
Short | European sovereign bonds | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon		0.77%
Weighted Average Yield		0.12%
Weighted average life		1 year 6 months 29 days
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Securities (Matur

Investment in Securities (Maturities of Securities) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 2,449,941	[1]
Amortized Cost	$ 2,342,369
Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	4.23%
Long
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 2,449,941
Amortized Cost	$ 2,415,210
Long | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	4.15%
Long | Agency RMBS
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 1,901,684
Amortized Cost	$ 1,886,235
Long | Agency RMBS | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	4.02%
Long | Agency RMBS | Less than three years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 188,593
Amortized Cost	$ 187,099
Long | Agency RMBS | Less than three years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.39%
Long | Agency RMBS | Greater than three years less than seven years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 961,839
Amortized Cost	$ 953,031
Long | Agency RMBS | Greater than three years less than seven years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	4.25%
Long | Agency RMBS | Greater than seven years less than eleven [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 713,862
Amortized Cost	$ 708,805
Long | Agency RMBS | Greater than seven years less than eleven [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.89%
Long | Agency RMBS | Greater than eleven year [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 37,390
Amortized Cost	$ 37,300
Long | Agency RMBS | Greater than eleven year [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.51%
Long | Agency RMBS | Interest only securities
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 35,279
Amortized Cost	$ 34,044
Long | Agency RMBS | Interest only securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	2.81%
Long | Agency RMBS | Interest only securities | Less than three years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 9,011
Amortized Cost	$ 8,611
Long | Agency RMBS | Interest only securities | Less than three years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.35%
Long | Agency RMBS | Interest only securities | Greater than three years less than seven years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 25,334
Amortized Cost	$ 24,512
Long | Agency RMBS | Interest only securities | Greater than three years less than seven years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	2.66%
Long | Agency RMBS | Interest only securities | Greater than seven years less than eleven [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 934
Amortized Cost	$ 921
Long | Agency RMBS | Interest only securities | Greater than seven years less than eleven [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	1.90%
Long | Agency RMBS | Interest only securities | Greater than eleven year [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 0
Amortized Cost	$ 0
Long | Agency RMBS | Interest only securities | Greater than eleven year [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.00%
Long | Non-Agency RMBS and CMBS
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 283,102
Amortized Cost	$ 269,124
Long | Non-Agency RMBS and CMBS | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.37%
Long | Non-Agency RMBS and CMBS | Less than three years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 50,120
Amortized Cost	$ 48,213
Long | Non-Agency RMBS and CMBS | Less than three years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	2.73%
Long | Non-Agency RMBS and CMBS | Greater than three years less than seven years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 87,436
Amortized Cost	$ 79,326
Long | Non-Agency RMBS and CMBS | Greater than three years less than seven years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	4.42%
Long | Non-Agency RMBS and CMBS | Greater than seven years less than eleven [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 127,533
Amortized Cost	$ 123,924
Long | Non-Agency RMBS and CMBS | Greater than seven years less than eleven [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.31%
Long | Non-Agency RMBS and CMBS | Greater than eleven year [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 18,013
Amortized Cost	$ 17,661
Long | Non-Agency RMBS and CMBS | Greater than eleven year [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.81%
Long | Non-Agency RMBS
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 163,136
Amortized Cost	$ 151,668
Long | Non-Agency RMBS | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	3.41%
Long | Non-Agency RMBS | Interest only securities
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 8,316
Amortized Cost	$ 6,517
Long | Non-Agency RMBS | Interest only securities | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	1.10%
Long | Non-Agency RMBS | Interest only securities | Less than three years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 439
Amortized Cost	$ 401
Long | Non-Agency RMBS | Interest only securities | Less than three years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	1.37%
Long | Non-Agency RMBS | Interest only securities | Greater than three years less than seven years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 7,877
Amortized Cost	$ 6,116
Long | Non-Agency RMBS | Interest only securities | Greater than three years less than seven years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	1.08%
Long | Non-Agency RMBS | Interest only securities | Greater than seven years less than eleven [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 0
Amortized Cost	$ 0
Long | Non-Agency RMBS | Interest only securities | Greater than seven years less than eleven [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.00%
Long | Non-Agency RMBS | Interest only securities | Greater than eleven year [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 0
Amortized Cost	$ 0
Long | Non-Agency RMBS | Interest only securities | Greater than eleven year [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.00%
Long | CLOs And Other Securities [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 220,166
Amortized Cost	$ 218,048
Long | CLOs And Other Securities [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	6.60%
Long | CLOs And Other Securities [Member] | Less than three years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 54,446
Amortized Cost	$ 54,090
Long | CLOs And Other Securities [Member] | Less than three years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	11.11%
Long | CLOs And Other Securities [Member] | Greater than three years less than seven years [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 157,384
Amortized Cost	$ 155,651
Long | CLOs And Other Securities [Member] | Greater than three years less than seven years [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	5.38%
Long | CLOs And Other Securities [Member] | Greater than seven years less than eleven [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 8,336
Amortized Cost	$ 8,307
Long | CLOs And Other Securities [Member] | Greater than seven years less than eleven [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.00%
Long | CLOs And Other Securities [Member] | Greater than eleven year [Member]
Securities, Available-for-sale [Line Items]
Securities, at fair value(1)	$ 0
Amortized Cost	$ 0
Long | CLOs And Other Securities [Member] | Greater than eleven year [Member] | Weighted Average
Securities, Available-for-sale [Line Items]
Weighted Average Coupon	0.00%
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Securities (Sum_2

Investment in Securities (Summary of Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Securities, Available-for-sale [Line Items]
Net Amortization									$ (48,132)	$ (45,895)
Interest Income	$ 45,353	$ 39,985	$ 38,547	$ 36,016	$ 35,694	$ 35,300	$ 31,941	$ 28,092	159,901	$ 131,027	[1]
Agency RMBS
Securities, Available-for-sale [Line Items]
Coupon Interest									62,103
Net Amortization									(24,731)
Interest Income									37,372
Non-Agency RMBS and CMBS
Securities, Available-for-sale [Line Items]
Coupon Interest									13,855
Net Amortization									2,782
Interest Income									16,637
CLOs
Securities, Available-for-sale [Line Items]
Coupon Interest									15,857
Net Amortization									(1,599)
Interest Income									14,258
Other Securities
Securities, Available-for-sale [Line Items]
Coupon Interest									7,157
Net Amortization									(2,468)
Interest Income									4,689
Securities Investment [Member]
Securities, Available-for-sale [Line Items]
Coupon Interest									98,972
Net Amortization									(26,016)
Interest Income									$ 72,956
[1]	Includes interest income and interest expense of a consolidated securitization trust of $6.0 million and $3.6 million , respectively, for the year ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trust.

Investment in Securities (Proce

Investment in Securities (Proceeds, Realized Gains (Losses) on Sales) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Securities, Available-for-sale [Line Items]
Proceeds	$ 1,893,925
Available-for-sale Securities, Gross Realized Gains	23,957
Available-for-sale Securities, Gross Realized Losses	(36,599)
Available-for-sale Securities, Gross Realized Gain (Loss)	(12,642)
Agency RMBS
Securities, Available-for-sale [Line Items]
Proceeds	1,010,251
Available-for-sale Securities, Gross Realized Gains	9,006
Available-for-sale Securities, Gross Realized Losses	(4,924)
Available-for-sale Securities, Gross Realized Gain (Loss)	4,082
Non-Agency RMBS and CMBS
Securities, Available-for-sale [Line Items]
Proceeds	184,725
Available-for-sale Securities, Gross Realized Gains	12,552
Available-for-sale Securities, Gross Realized Losses	(7,348)
Available-for-sale Securities, Gross Realized Gain (Loss)	5,204
CLOs
Securities, Available-for-sale [Line Items]
Proceeds	62,063
Available-for-sale Securities, Gross Realized Gains	1,286
Available-for-sale Securities, Gross Realized Losses	(19,464)
Available-for-sale Securities, Gross Realized Gain (Loss)	(18,178)
Other Securities
Securities, Available-for-sale [Line Items]
Proceeds	636,886
Available-for-sale Securities, Gross Realized Gains	1,113
Available-for-sale Securities, Gross Realized Losses	(4,863)
Available-for-sale Securities, Gross Realized Gain (Loss)	$ (3,750)

Investment in Securities (Unrea

Investment in Securities (Unrealized Loss Positions Securities) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 471,379
Unrealized Losses, Less than 12 Months	(5,146)
Fair Value, Greater than 12 Months	162,938
Unrealized Losses, Greater than 12 Months	(3,861)
Fair Value, Total	634,317
Unrealized Loss, Total	(9,007)
Agency RMBS
Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	328,968
Unrealized Losses, Less than 12 Months	(1,503)
Fair Value, Greater than 12 Months	125,095
Unrealized Losses, Greater than 12 Months	(1,999)
Fair Value, Total	454,063
Unrealized Loss, Total	(3,502)
Non-Agency RMBS
Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	88,495
Unrealized Losses, Less than 12 Months	(880)
Fair Value, Greater than 12 Months	27,218
Unrealized Losses, Greater than 12 Months	(699)
Fair Value, Total	115,713
Unrealized Loss, Total	(1,579)
CLOs
Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	37,354
Unrealized Losses, Less than 12 Months	(1,911)
Fair Value, Greater than 12 Months	9,245
Unrealized Losses, Greater than 12 Months	(1,103)
Fair Value, Total	46,599
Unrealized Loss, Total	(3,014)
Other Securities
Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	16,562
Unrealized Losses, Less than 12 Months	(852)
Fair Value, Greater than 12 Months	1,380
Unrealized Losses, Greater than 12 Months	(60)
Fair Value, Total	17,942
Unrealized Loss, Total	$ (912)

Investment in Securities (Narra

Investment in Securities (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Investments, Debt and Equity Securities [Abstract]
Catch-up premium amortization adjustment	$ (4.7)
OTTI charge on securities	$ 28.7

Investment in Loans (Schedule o

Investment in Loans (Schedule of Investments in Loans) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Principal/Notional Amount	$ 1,387,733
Fair Value	1,412,426	[1]
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Principal/Notional Amount	911,705
Fair Value	932,203
Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Principal/Notional Amount	277,870
Fair Value	274,759
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Principal/Notional Amount	179,743
Fair Value	186,954
Corporate loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current Principal/Notional Amount	18,415
Fair Value	$ 18,510
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_2

Investment in Loans (Schedule of 90 Days or More Past Due) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 1,387,733
Loans, at fair value	1,412,426	[1]
Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	277,870
Loans, at fair value	274,759
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	911,705
Loans, at fair value	932,203
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	179,743
Loans, at fair value	186,954
Non-accrual status [Member] | Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, at fair value	10,700
Non-accrual status [Member] | Commercial mortgage loans | 90 Days or More Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	28,936
Loans, at fair value	26,545
Non-accrual status [Member] | Residential mortgage loans | 90 Days or More Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	22,092
Loans, at fair value	19,401
Non-accrual status [Member] | Consumer loans | 90 Days or More Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	5,633
Loans, at fair value	$ 5,225
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_3

Investment in Loans (Schedule of Residential Mortgage Loans) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 1,387,733
Unamortized Premium (Discount)		(150,821)
Amortized Cost			$ 2,970,306
Fair Value	[1]	$ 1,412,426
Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon		4.23%
Weighted Average Yield		4.01%
Weighted average life		5 years 10 months 24 days
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 911,705
Fair Value		932,203
Loans held-for-investment [Member] | Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		911,705
Unamortized Premium (Discount)		9,354
Amortized Cost		921,059
Gains		13,082
Losses		(1,938)
Fair Value		$ 932,203
Loans held-for-investment [Member] | Residential mortgage loans | Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon		6.44%
Weighted Average Yield		5.79%
Weighted average life		1 year 10 months 24 days
Non-QM loan securitization | Residential mortgage loans | Consolidated Entities [Member] | Securitized loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair Value		$ 628,415
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_4

Investment in Loans (Schedule of Residential Mortgage Loans: Geographic Distribution) (Details) - Financing Receivables, Unpaid Principal Balance [Member] - Residential mortgage loans - Geographic Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	100.00%
California [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	46.60%
Florida [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	11.90%
Texas [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	11.90%
Colorado [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	3.20%
MASSACHUSETTS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	2.90%
Arizona [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	2.40%
Nevada [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.60%
MASSACHUSETTS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.60%
OREGON
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	2.20%
UTAH
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.90%
Maryland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.10%
NEW JERSEY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.10%
ILLINOIS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.70%
NEW YORK
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.30%
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	8.60%

Investment in Loans Investment

Investment in Loans Investment in Loans (Schedule of Residential Mortgage Loans: Performance) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 1,387,733
Loans, at fair value	1,412,426	[1]
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	911,705
Loans, at fair value	932,203
Residential mortgage loans | Performing Financial Instruments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	27,663
Loans, at fair value	25,323
Residential mortgage loans | Non-performing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	17,757
Loans, at fair value	$ 15,580
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Narrative)

Investment in Loans (Narrative) (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans in Process of Foreclosure, Amount			$ 9,100
Unpaid Principal Balance		$ 1,387,733
Loans, at fair value	[1]	1,412,426
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment Losses, Recognized in Earnings		900
Mortgage Loans in Process of Foreclosure, Amount		10,900
Unpaid Principal Balance		911,705
Loans, at fair value		932,203
Residential mortgage loans | Non-performing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		17,757
Loans, at fair value		15,580
Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage Loans in Process of Foreclosure, Amount		16,000
Unpaid Principal Balance		277,870
Loans, at fair value		$ 274,759
Commercial mortgage loans | Non-performing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan		3
Unpaid Principal Balance		$ 28,900
Loans, at fair value		26,500
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans, charged off		19,000
Fair value of charged-off loans		600
Impairment Losses, Recognized in Earnings		6,300
Unpaid Principal Balance		179,743
Loans, at fair value		186,954
Corporate loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		18,415
Loans, at fair value		$ 18,510
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_5

Investment in Loans (Schedule of Commercial Mortgage Loans) (Details) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 1,387,733
Unamortized Premium (Discount)		(150,821)
Amortized Cost			$ 2,970,306
Loans, at fair value	[1]	$ 1,412,426
Mortgage Loans in Process of Foreclosure, Amount			$ 9,100
Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon		4.23%
Weighted Average Yield		4.01%
Weighted average life		5 years 10 months 24 days
Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 277,870
Unamortized Premium (Discount)		(3,302)
Amortized Cost		274,568
Gains		253
Losses		(62)
Loans, at fair value		$ 274,759
Number of mortgage loans in process of foreclosure		2
Mortgage Loans in Process of Foreclosure, Amount		$ 16,000
Commercial mortgage loans | Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon		7.65%
Weighted Average Yield		8.58%
Weighted average life		1 year 25 days
Non-accrual status [Member] | Commercial mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, at fair value		$ 10,700
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_6

Investment in Loans (Schedule of Commercial Loans: Geographic Distribution) (Details) - Financing Receivables, Unpaid Principal Balance [Member] - Geographic Concentration Risk [Member] - Commercial mortgage loans	12 Months Ended
	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	100.00%
Florida [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	31.70%
NEW YORK
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	17.70%
NEW JERSEY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	13.30%
CONNECTICUT
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	8.20%
Virginia [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	6.80%
MASSACHUSETTS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	4.70%
NORTH CAROLINA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	4.60%
Arizona [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	3.80%
Indiana [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	2.10%
PENNSYLVANIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.80%
Nevada [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.50%
Tennessee [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.50%
ILLINOIS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.20%
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total Outstanding Unpaid Principal Balance	1.10%

Investment in Loans (Schedule_7

Investment in Loans (Schedule of Consumer Mortgage Loans) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 1,387,733
Unamortized Premium (Discount)		(150,821)
Amortized Cost			$ 2,970,306
Loans, at fair value	[1]	$ 1,412,426
Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average life		5 years 10 months 24 days
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		$ 179,743
Unamortized Premium (Discount)		5,027
Amortized Cost		184,770
Gains		2,561
Losses		(377)
Loans, at fair value		$ 186,954
Consumer loans | Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average life		9 months 25 days
Delinquency (Days)		4 days
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investment in Loans (Schedule_8

Investment in Loans (Schedule of Consumer Loans: Delinquency Status) (Details) - Consumer loans	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Percent past due	100.00%
Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percent past due	95.30%
30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percent past due	2.10%
60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percent past due	1.40%
90-119 Days or More Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percent past due	1.20%

Investment in Loans Investmen_2

Investment in Loans Investment in Loans (Schedule of Corporate Loans) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 1,387,733
Loans, at fair value	1,412,426	[1]
Corporate loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	18,415
Loans, at fair value	$ 18,510
Weighted Average
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon	4.23%
Weighted average life	5 years 10 months 24 days
Weighted Average | Corporate loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Coupon	17.62%
Weighted average life	10 months 13 days
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investments in Unconsolidated_3

Investments in Unconsolidated Entities (Details) - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities, at fair value	[1]	$ 71,850				$ 71,850
Earnings from investments in unconsolidated entities		3,262	$ 2,796	$ 2,354	$ 1,797	10,209
Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities, at fair value		$ 28,500				$ 28,500
Longbridge Financial LLC
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		49.70%				49.70%
LendSure Mortgage Corp.
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		49.90%				49.90%
Jepson Holdings Limited
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities, at fair value		$ 1,900				$ 1,900
Percentage Ownership of Unconsolidated Entity		30.10%				30.10%
Elizon AFG 2018-1 LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		13.40%				13.40%
Elizon DB 2015-1 LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		3.50%				3.50%
Minimum | Other
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		7.70%				7.70%
Maximum | Other
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Unconsolidated Entity		51.00%				51.00%
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Investments in Unconsolidated_4

Investments in Unconsolidated Entities Summarized Financial Information Financial Condition (Details) $ in Thousands	Dec. 31, 2019USD ($)
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments, Summarized Financial Information, Investments	$ 560,949
Equity Method Investments, Summarized Financial Information, Other assets	65,580
Equity Method Investment, Summarized Financial Information, Assets	626,529
Equity Method Investment, Summarized Financial Information, Borrowings	387,910
Equity Method Investment, Summarized Financial Information, Other liabilities	28,134
Equity Method Investment, Summarized Financial Information, Liabilities	416,044
Equity Method Investment Summarized Financial Information, Equity	210,485
Equity Method Investment, Summarized Financial Information, Liabilities and Equity	$ 626,529

Investments in Unconsolidated_5

Investments in Unconsolidated Entities Summarized Financial Information Results of Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment, Summarized Financial Information, Interest Income	$ 30,587
Equity Method Investment, Summarized Financial Information, Interest expense	(13,316)
Equity Method Investment, Summarized Financial Information, Net interest income	17,271
Equity Method Investment, Summarized Financial Information, Realized and unrealized gain (loss) on investments	40,901
Equity Method Investment, Summarized Financial Information, Other, net	31,848
Equity Method Investment, Summarized Financial Information, Total other income (loss)	72,749
Equity Method Investment, Summarized Financial Information, Expenses	58,018
Equity Method Investment, Summarized Financial Information, Net income (loss) before income tax	32,002
Equity Method Investment, Summarized Financial Information, Tax expense (benefit)	979
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	$ 31,023

Real Estate Owned (Details)

Real Estate Owned (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)property
Number of Properties
Beginning Balance | property	20
Transfers from mortgage loans | property	8
Disposals | property	(13)
Ending Balance | property	15
Carrying Value
Beginning Balance	$ 30,778
Transfers from mortgage loans	22,577
Capital expenditures and other adjustments to cost	240
Adjustments to record at the lower of cost or fair value	(1,002)
Disposals	(22,009)
Ending Balance	30,584
Realized Gain (Loss) on Sale of Properties	2,300
REO, fair value	$ 19,400

To Be Announced RMBS (Details)

To Be Announced RMBS (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Dec. 31, 2018
To Be Announced Securities [Line Items]
Fair Value			$ 2,939,311
Unpaid Principal Balance	$ 1,387,733
Investments sold short, at fair value-	(73,409)		(850,577)
Payable for securities purchased relating to unsettled TBA purchases	(66,133)	[1]	(488,411)
Net short TBA securities, at fair value	$ (2,376,532)
To Be Announced Fixed Rate Agency Securities [Member]
To Be Announced Securities [Line Items]
Fair Value			474,860
Unpaid Principal Balance			460,037
Receivable for securities sold relating to unsettled TBA sales			766,574
TBA - Fixed Rate Agency Securities Sold Short [Member]
To Be Announced Securities [Line Items]
Investments sold short, at fair value-			(772,964)
Current Principal			(753,697)
Payable for securities purchased relating to unsettled TBA purchases			(473,386)
Net short TBA securities, at fair value			$ (298,104)
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Financial Derivatives (Schedule

Financial Derivatives (Schedule of Financial Derivatives) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	$ 16,788	$ 20,001
Financial derivatives–liabilities, at fair value-	(27,621)	$ (20,806)
Total	(10,833)
TBA Securities, Purchase Contracts [Member]
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	90
TBA Securities, Sale Contracts [Member]
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	506
Financial derivatives–liabilities, at fair value-	(1,012)
Interest rate swaps | Short
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	3,914
Financial derivatives–liabilities, at fair value-	(8,513)
Interest rate swaps | Long
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	1,554
Financial derivatives–liabilities, at fair value-	(206)
Credit default swaps on asset-backed securities
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	993
Credit default swaps on asset-backed indices
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	3,319
Financial derivatives–liabilities, at fair value-	(250)
Credit default swaps on corporate bonds
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	2
Financial derivatives–liabilities, at fair value-	(1,693)
Credit default swaps on corporate bond indices
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	5,599
Financial derivatives–liabilities, at fair value-	(14,524)
Total return swaps
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	620
Financial derivatives–liabilities, at fair value-	(1,209)
Futures
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	148
Financial derivatives–liabilities, at fair value-	(45)
Futures | Short
Derivatives, Fair Value [Line Items]
Total	103
Forwards
Derivatives, Fair Value [Line Items]
Financial derivatives–assets, at fair value-	43
Financial derivatives–liabilities, at fair value-	$ (169)

Financial Derivatives (Interest

Financial Derivatives (Interest Rate Swaps) (Details) - Interest rate swaps $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Long
Derivative [Line Items]
Notional Amount	$ 305,723
Fair Value	1,348
Long | 2021 [Member]
Derivative [Line Items]
Notional Amount	181,950
Fair Value	(49)
Long | 2022 [Member]
Derivative [Line Items]
Notional Amount	53,974
Fair Value	441
Long | 2023 [Member]
Derivative [Line Items]
Notional Amount	48,657
Fair Value	709
Long | 2024 [Member]
Derivative [Line Items]
Notional Amount	11,342
Fair Value	306
Long | 2029 [Member]
Derivative [Line Items]
Notional Amount	9,800
Fair Value	$ (59)
Long | Weighted Average
Derivative [Line Items]
Pay Rate	1.78%
Receive Rate	1.91%
Remaining Years to Maturity	2 years 5 months 19 days
Long | Weighted Average | 2021 [Member]
Derivative [Line Items]
Pay Rate	1.67%
Receive Rate	1.89%
Remaining Years to Maturity	1 year 10 months 2 days
Long | Weighted Average | 2022 [Member]
Derivative [Line Items]
Pay Rate	1.85%
Receive Rate	1.91%
Remaining Years to Maturity	2 years 2 months 1 day
Long | Weighted Average | 2023 [Member]
Derivative [Line Items]
Pay Rate	2.00%
Receive Rate	1.92%
Remaining Years to Maturity	3 years 3 months 3 days
Long | Weighted Average | 2024 [Member]
Derivative [Line Items]
Pay Rate	2.33%
Receive Rate	2.09%
Remaining Years to Maturity	4 years 2 months 23 days
Long | Weighted Average | 2029 [Member]
Derivative [Line Items]
Pay Rate	1.78%
Receive Rate	1.91%
Remaining Years to Maturity	9 years 9 months 7 days
Short
Derivative [Line Items]
Notional Amount	$ 732,961
Fair Value	(4,599)
Short | 2020 [Member]
Derivative [Line Items]
Notional Amount	68,607
Fair Value	(234)
Short | 2021 [Member]
Derivative [Line Items]
Notional Amount	268,929
Fair Value	(419)
Short | 2022 [Member]
Derivative [Line Items]
Notional Amount	31,350
Fair Value	9
Short | 2023 [Member]
Derivative [Line Items]
Notional Amount	101,012
Fair Value	(1,265)
Short | 2024 [Member]
Derivative [Line Items]
Notional Amount	13,000
Fair Value	99
Short | 2025 [Member]
Derivative [Line Items]
Notional Amount	12,800
Fair Value	(24)
Short | 2026 [Member]
Derivative [Line Items]
Notional Amount	59,902
Fair Value	1,946
Short | 2028 [Member]
Derivative [Line Items]
Notional Amount	32,942
Fair Value	(1,634)
Short | 2029 [Member]
Derivative [Line Items]
Notional Amount	136,838
Fair Value	(2,018)
Short | 2030 [Member]
Derivative [Line Items]
Notional Amount	685
Fair Value	(32)
Short | 2036 [Member]
Derivative [Line Items]
Notional Amount	1,100
Fair Value	87
Short | 2049 [Member]
Derivative [Line Items]
Notional Amount	5,796
Fair Value	$ (1,114)
Short | Weighted Average
Derivative [Line Items]
Pay Rate	1.83%
Receive Rate	1.94%
Remaining Years to Maturity	4 years 3 months 21 days
Short | Weighted Average | 2020 [Member]
Derivative [Line Items]
Pay Rate	1.74%
Receive Rate	1.93%
Remaining Years to Maturity	5 hours
Short | Weighted Average | 2021 [Member]
Derivative [Line Items]
Pay Rate	1.73%
Receive Rate	1.95%
Remaining Years to Maturity	1 year 7 months 20 days
Short | Weighted Average | 2022 [Member]
Derivative [Line Items]
Pay Rate	1.65%
Receive Rate	1.93%
Remaining Years to Maturity	2 years 1 month 20 days
Short | Weighted Average | 2023 [Member]
Derivative [Line Items]
Pay Rate	2.06%
Receive Rate	1.91%
Remaining Years to Maturity	3 years 3 months 14 days
Short | Weighted Average | 2024 [Member]
Derivative [Line Items]
Pay Rate	1.56%
Receive Rate	1.89%
Remaining Years to Maturity	4 years 10 months 24 days
Short | Weighted Average | 2025 [Member]
Derivative [Line Items]
Remaining Years to Maturity	5 years 2 months 19 days
Short | Weighted Average | 2026 [Member]
Derivative [Line Items]
Pay Rate	1.24%
Receive Rate	1.94%
Remaining Years to Maturity	6 years 6 months
Short | Weighted Average | 2028 [Member]
Derivative [Line Items]
Pay Rate	2.40%
Receive Rate	1.93%
Remaining Years to Maturity	8 years 4 months 2 days
Short | Weighted Average | 2029 [Member]
Derivative [Line Items]
Pay Rate	2.02%
Receive Rate	1.96%
Remaining Years to Maturity	9 years 7 months 9 days
Short | Weighted Average | 2030 [Member]
Derivative [Line Items]
Pay Rate	2.38%
Receive Rate	1.90%
Remaining Years to Maturity	10 years 10 months 24 days
Short | Weighted Average | 2036 [Member]
Derivative [Line Items]
Pay Rate	1.45%
Receive Rate	1.94%
Remaining Years to Maturity	16 years 1 month 20 days
Short | Weighted Average | 2049 [Member]
Derivative [Line Items]
Pay Rate	2.89%
Receive Rate	2.09%
Remaining Years to Maturity	29 years 10 days
Forward-starting interest rate swap [Member] | Short
Derivative [Line Items]
Notional Amount	$ 20,900
Fair Value	$ (41)
Derivative fixed interest rate including forward-starting swaps	1.83%

Financial Derivatives (Credit D

Financial Derivatives (Credit Default Swaps) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Financial derivatives–assets, at fair value-	$ 16,788	$ 20,001
Financial derivatives–liabilities, at fair value-	(27,621)	$ (20,806)
Fair Value	10,833
Credit default swaps on asset-backed indices
Derivative [Line Items]
Financial derivatives–assets, at fair value-	3,319
Financial derivatives–liabilities, at fair value-	(250)
Credit default swaps on asset-backed indices | Financial Derivatives - Assets | Long
Derivative [Line Items]
Notional Amount	695
Financial derivatives–assets, at fair value-	10
Credit default swaps on asset-backed indices | Financial Derivatives - Assets | Short
Derivative [Line Items]
Notional Amount	63,515
Financial derivatives–assets, at fair value-	3,309
Credit default swaps on asset-backed indices | Financial Derivatives - Liabilities | Long
Derivative [Line Items]
Notional Amount	344
Financial derivatives–liabilities, at fair value-	(145)
Credit default swaps on asset-backed indices | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Notional Amount	4,501
Financial derivatives–liabilities, at fair value-	(105)
Credit default swaps on asset-backed securities
Derivative [Line Items]
Financial derivatives–assets, at fair value-	993
Credit default swaps on asset-backed securities | Financial Derivatives - Assets | Short
Derivative [Line Items]
Notional Amount	2,640
Financial derivatives–assets, at fair value-	993
Credit default swaps on corporate bonds
Derivative [Line Items]
Financial derivatives–assets, at fair value-	2
Financial derivatives–liabilities, at fair value-	(1,693)
Credit default swaps on corporate bonds | Financial Derivatives - Assets | Long
Derivative [Line Items]
Notional Amount	430
Financial derivatives–assets, at fair value-	2
Credit default swaps on corporate bonds | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Notional Amount	10,800
Financial derivatives–liabilities, at fair value-	(1,693)
Credit default swaps on corporate bond indices
Derivative [Line Items]
Financial derivatives–assets, at fair value-	5,599
Financial derivatives–liabilities, at fair value-	(14,524)
Credit default swaps on corporate bond indices | Financial Derivatives - Assets | Long
Derivative [Line Items]
Notional Amount	130,707
Financial derivatives–assets, at fair value-	5,547
Credit default swaps on corporate bond indices | Financial Derivatives - Assets | Short
Derivative [Line Items]
Notional Amount	1,997
Financial derivatives–assets, at fair value-	52
Credit default swaps on corporate bond indices | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Notional Amount	250,088
Financial derivatives–liabilities, at fair value-	(14,524)
Credit default swaps
Derivative [Line Items]
Notional Amount	201,365
Fair Value	$ 6,554
Weighted Average | Credit default swaps on asset-backed indices | Financial Derivatives - Assets | Long
Derivative [Line Items]
Remaining Years to Maturity	23 years 9 months 18 days
Weighted Average | Credit default swaps on asset-backed indices | Financial Derivatives - Assets | Short
Derivative [Line Items]
Remaining Years to Maturity	38 years 4 months 24 days
Weighted Average | Credit default swaps on asset-backed indices | Financial Derivatives - Liabilities | Long
Derivative [Line Items]
Remaining Years to Maturity	29 years 4 months 6 days
Weighted Average | Credit default swaps on asset-backed indices | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Remaining Years to Maturity	40 years 3 months 21 days
Weighted Average | Credit default swaps on asset-backed securities | Financial Derivatives - Assets | Short
Derivative [Line Items]
Remaining Years to Maturity	15 years 7 months 17 days
Weighted Average | Credit default swaps on corporate bonds | Financial Derivatives - Assets | Long
Derivative [Line Items]
Remaining Years to Maturity	11 hours
Weighted Average | Credit default swaps on corporate bonds | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Remaining Years to Maturity	3 years 11 months 1 day
Weighted Average | Credit default swaps on corporate bond indices | Financial Derivatives - Assets | Long
Derivative [Line Items]
Remaining Years to Maturity	2 years 5 months 1 day
Weighted Average | Credit default swaps on corporate bond indices | Financial Derivatives - Assets | Short
Derivative [Line Items]
Remaining Years to Maturity	3 years 11 months 19 days
Weighted Average | Credit default swaps on corporate bond indices | Financial Derivatives - Liabilities | Short
Derivative [Line Items]
Remaining Years to Maturity	2 years 6 months 3 days
Weighted Average | Credit default swaps
Derivative [Line Items]
Remaining Years to Maturity	14 years 10 months 17 days

Financial Derivatives (Futures)

Financial Derivatives (Futures) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Derivative [Line Items]
Fair Value	$ (10,833)
Short | U.S. Treasury futures
Derivative [Line Items]
Notional Amount	(16,000)
Fair Value	$ 148
Remaining Years to Maturity	2 months 23 days
Short | Eurodollar futures
Derivative [Line Items]
Notional Amount	$ (14,000)
Fair Value	$ (45)
Remaining Years to Maturity	4 months 2 days
Short | Futures
Derivative [Line Items]
Notional Amount	$ (30,000)
Fair Value	$ 103
Remaining Years to Maturity	3 months 11 days

Financial Derivatives (TBAs) (D

Financial Derivatives (TBAs) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Financial derivatives–assets, at fair value-	$ 16,788	$ 20,001
Derivative Liability	27,621	$ 20,806
Derivative Assets (Liabilities), at Fair Value, Net	(10,833)
TBA securities
Derivative [Line Items]
Notional Amount	1,053,630
Derivative, Cost Basis	(1,098,063)
Market Value Underlying	(1,098,479)
Derivative Assets (Liabilities), at Fair Value, Net	(416)
TBA securities | Long
Derivative [Line Items]
Notional Amount	40,100
Derivative, Cost Basis	40,585
Market Value Underlying	40,675
Derivative Assets (Liabilities), at Fair Value, Net	90
TBA securities | Short
Derivative [Line Items]
Notional Amount	1,093,730
Derivative, Cost Basis	(1,138,648)
Market Value Underlying	(1,139,154)
Derivative Assets (Liabilities), at Fair Value, Net	(506)
Financial Derivatives - Assets | TBA securities | Long
Derivative [Line Items]
Notional Amount	40,100
Derivative, Cost Basis	40,585
Market Value Underlying	40,675
Financial derivatives–assets, at fair value-	90
Financial Derivatives - Assets | TBA securities | Short
Derivative [Line Items]
Notional Amount	319,981
Derivative, Cost Basis	(332,080)
Market Value Underlying	(331,574)
Financial derivatives–assets, at fair value-	506
Financial Derivatives - Liabilities | TBA securities | Short
Derivative [Line Items]
Notional Amount	773,749
Derivative, Cost Basis	(806,568)
Market Value Underlying	(807,580)
Derivative Liability	$ (1,012)

Financial Derivatives (Schedu_2

Financial Derivatives (Schedule of Gains and Losses on Derivative Contracts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	$ 1,695
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(32,562)
Realized gains (losses) on financial derivatives, net	(30,867)	$ 1,911
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	(764)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(4,573)
Unrealized gains (losses) on financial derivatives, net	(5,337)	7,807
Foreign currency transactions	(2,392)	4,131
Foreign currency translation		(7,071)
Derivative [Member]
Derivative [Line Items]
Foreign currency transactions	45	100
Foreign currency translation	1	100
Interest rate swaps | Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	1,695
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(876)
Realized gains (losses) on financial derivatives, net	819	(985)
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	(764)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(5,778)
Unrealized gains (losses) on financial derivatives, net	(6,542)	3,648
Credit default swaps on asset-backed securities | Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	528
Realized gains (losses) on financial derivatives, net	528	(687)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(479)
Unrealized gains (losses) on financial derivatives, net	(479)	715
Credit default swaps on asset-backed indices | Credit Risk [Member]
Derivative [Line Items]
Realized gains (losses) on financial derivatives, net		(2,293)
Unrealized gains (losses) on financial derivatives, net		2,013
Credit default swaps on corporate bond indices | Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(1,883)
Realized gains (losses) on financial derivatives, net	(1,883)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(1,848)
Unrealized gains (losses) on financial derivatives, net	(1,848)
Credit default swaps on corporate bond indices | Credit Risk [Member]
Derivative [Line Items]
Realized gains (losses) on financial derivatives, net		(1,983)
Unrealized gains (losses) on financial derivatives, net		3,540
Credit default swaps on corporate bond indices | Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(5,262)
Realized gains (losses) on financial derivatives, net	(5,262)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(1,364)
Unrealized gains (losses) on financial derivatives, net	(1,364)
Credit default swaps on corporate bonds | Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(708)
Realized gains (losses) on financial derivatives, net	(708)	2,993
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	1,007
Unrealized gains (losses) on financial derivatives, net	1,007	(2,648)
Total return swaps | Equity Market/Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(1,460)
Realized gains (losses) on financial derivatives, net	(1,460)	3,844
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(584)
Unrealized gains (losses) on financial derivatives, net	(584)	(5)
TBA securities | Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(15,755)
Realized gains (losses) on financial derivatives, net	(15,755)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	4,026
Unrealized gains (losses) on financial derivatives, net	4,026
Futures | Interest Rate/Currency Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(7,924)
Realized gains (losses) on financial derivatives, net	(7,924)	162
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	458
Unrealized gains (losses) on financial derivatives, net	458	108
Forwards | Currency risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	813
Realized gains (losses) on financial derivatives, net	813	923
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(12)
Unrealized gains (losses) on financial derivatives, net	(12)	359
Options | Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(35)
Realized gains (losses) on financial derivatives, net	(35)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	1
Unrealized gains (losses) on financial derivatives, net	$ 1
Options | Interest Rates/Equity Market Risk [Member]
Derivative [Line Items]
Realized gains (losses) on financial derivatives, net		(63)
Unrealized gains (losses) on financial derivatives, net		$ 77

Financial Derivatives (Schedu_3

Financial Derivatives (Schedule of Derivative Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest rate swaps
Derivative [Line Items]
Average Monthly Notional	$ 731,941	$ 1,059,756
TBA securities
Derivative [Line Items]
Average Monthly Notional	973,331
Credit default swaps
Derivative [Line Items]
Average Monthly Notional	399,316	566,805
Total return swaps
Derivative [Line Items]
Average Monthly Notional	39,434	53,603
Futures
Derivative [Line Items]
Average Monthly Notional	167,708	201,295
Options
Derivative [Line Items]
Average Monthly Notional	19,825	99,891
Forwards
Derivative [Line Items]
Average Monthly Notional	30,930	$ 45,522
Warrants
Derivative [Line Items]
Average Monthly Notional	$ 2,222

Financial Derivatives (Schedu_4

Financial Derivatives (Schedule of Credit Derivatives) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Credit Default Swap, Selling Protection [Member]
Credit Derivatives [Line Items]
Credit Risk Derivatives, at Fair Value, Net		$ 4,339
Fair Value	$ 5,414
Notional value	132,176
Derivative notional		(98,586)
Credit Default Swap, Buying Protection [Member]
Credit Derivatives [Line Items]
Credit Risk Derivatives, at Fair Value, Net		284
Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives	(3,248)
Notional value of purchased credit derivatives offsetting written credit derivatives	$ (81,637)
Derivative notional		$ (41,134)

Financial Derivatives (Narrativ

Financial Derivatives (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Written credit derivative spread threshold	20.00%	20.00%
Upfront points on written credit derivative in excess of threshold	57
Credit Default Swap, Selling Protection [Member]
Derivative [Line Items]
Credit risk derivative in excess of threshold, at fair value, net	$ (0.1)	$ (1)
Total net up-front payments received	$ (3.3)	$ (2)
Minimum
Derivative [Line Items]
Spread on written credit derivatives	1.09%	4.26%
Upfront points on written credit derivative in excess of threshold		36.9
Maximum
Derivative [Line Items]
Spread on written credit derivatives	44.00%	81.51%
Upfront points on written credit derivative in excess of threshold		75.2

Consolidated VIEs (Details)

Consolidated VIEs (Details) - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents		$ 72,302	[1]	$ 44,656
Restricted cash		175	[1]	425
Securities, at fair value(1)	[1]	2,449,941
Loans, at fair value	[1]	1,412,426
Investment in unconsolidated entities, at fair value	[1]	71,850
Real estate owned	[1]	30,584
Due from brokers		79,829	[1]	71,794
Investment related receivables	[1]	123,120
Other assets		7,563	[1]	15,536
Total Assets		4,338,217		3,971,499
Liabilities
Repurchase agreements		2,445,300	[1]	1,498,849
Investment related payables		66,133	[1]	488,411
Other secured borrowings		150,334	[1]	114,100
Other secured borrowings, at fair value		594,396	[1]	297,948
Accounts payable and accrued expenses				5,723
Interest payable	[1]	7,320
Accrued expenses and other liabilities	[1]	7,753
Total Liabilities		3,469,518		3,376,329
Total Stockholders' Equity		829,265		563,833
Non-controlling interests		39,434	[1]	31,337
Total Equity		868,699		595,170	$ 620,961
Total Liabilities and Equity		4,338,217		$ 3,971,499
Primary Beneficiary
Assets
Cash and cash equivalents		6,016
Restricted cash		175
Securities, at fair value(1)		47,923
Loans, at fair value		1,393,916
Investment in unconsolidated entities, at fair value		5,641
Real estate owned		30,584
Due from brokers		0
Investment related receivables		28,668
Other assets		6,191
Total Assets		1,519,114
Liabilities
Repurchase agreements		302,791
Investment related payables		3,275
Other secured borrowings		150,334
Other secured borrowings, at fair value		594,396
Interest payable		1,247
Accrued expenses and other liabilities		2,279
Total Liabilities		1,054,322
Total Stockholders' Equity		440,394
Non-controlling interests		24,400
Total Equity		464,794
Total Liabilities and Equity		$ 1,519,116
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Securitization Transactions Nar

Securitization Transactions Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2017	Aug. 31, 2016	Dec. 31, 2019	Dec. 31, 2018
Securitization Transactions [Line Items]
Face amount of notes distributed from Risk Retention Vehicle				$ 5,600
Proceeds received from equity investment in risk retention vehicle (liquidation)				$ 5,700
Minimum economic interest required to be retained				5.00%
Fair Value				$ 2,939,311
Participation in Multi-Seller Consumer Loan Securitization [Member]
Securitization Transactions [Line Items]
Aggregate unpaid principal balance of loans sold		$ 124,000
Company's share of loans sold		51.00%
Co-participants share of loans sold		49.00%
Loss on securitization of financial assets		$ (100)
Senior notes issued in securitization transaction		87,000
Subordinated notes issued in securitization transaction		$ 18,700
Company's initial percentage ownership of jointly owned entity		51.00%
Affiliated co-participants initial percentage ownership of jointly owned entity		49.00%
Company's current percentage ownership of jointly owned entity			51.00%	62.00%
Variable Interest Entity, Maximum Loss Exposure			$ 3,200
CLO I Securitization [Member]
Securitization Transactions [Line Items]
Loss on securitization of financial assets	$ 200
The Company [Member] | CLO I Securitization [Member]
Securitization Transactions [Line Items]
Corporate loans transferred into CLO securitization	62,000
Affiliated Entity [Member] | CLO I Securitization [Member]
Securitization Transactions [Line Items]
Corporate loans transferred into CLO securitization	$ 141,700
CLOs
Securitization Transactions [Line Items]
Fair Value				$ 123,893
CLOs | CLO I Securitization [Member]
Securitization Transactions [Line Items]
Fair Value				0
CLOs | Distributed from Risk Retention Vehicle [Member]
Securitization Transactions [Line Items]
Fair Value				$ 4,300
Non-QM loan securitization
Securitization Transactions [Line Items]
Threshold for exercising Optional Redemption			30.00%	30.00%
Percentage used to calculate servicing administrator fee			0.03%	0.03%

Securitization Transactions (Sc

Securitization Transactions (Schedule of CLO Securitization Transactions) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Securitization Transactions [Line Items]
Fair Value			$ 2,939,311
Securities, at fair value(1)	[1]	$ 2,449,941
CLO I Securitization [Member]
Securitization Transactions [Line Items]
CLO Pricing Date		2018-08	2017-05
CLO Closing Date		2018-08	2017-06
Total Face Amount of Notes Issued		$ 461,840	$ 373,550
Face Amount of Notes Initially Purchased		36,579	36,606
Aggregate Purchase Price of Notes Initially Purchased		$ 25,622	$ 35,926
Reset CLO I Securitization [Member]
Securitization Transactions [Line Items]
CLO Pricing Date			2018-08
CLO Closing Date			2018-08
Total Face Amount of Notes Issued			$ 461,840
Face Amount of Notes Initially Purchased			36,579
Aggregate Purchase Price of Notes Initially Purchased			$ 25,622
CLO II Securitization [Member]
Securitization Transactions [Line Items]
CLO Pricing Date		2017-12	2017-12
CLO Closing Date		2018-01	2018-01
Total Face Amount of Notes Issued		$ 452,800	$ 452,800
Face Amount of Notes Initially Purchased		18,223	18,223
Aggregate Purchase Price of Notes Initially Purchased		$ 16,621	$ 16,621
CLO III Securitization [Member]
Securitization Transactions [Line Items]
CLO Pricing Date		2018-06	2018-06
CLO Closing Date		2018-07	2018-07
Total Face Amount of Notes Issued		$ 407,100	$ 407,100
Face Amount of Notes Initially Purchased		35,480	35,480
Aggregate Purchase Price of Notes Initially Purchased		$ 32,394	32,394
CLO IV Securitization [Member]
Securitization Transactions [Line Items]
CLO Pricing Date		2019-02
CLO Closing Date		2019-03
Total Face Amount of Notes Issued		$ 478,488
Face Amount of Notes Initially Purchased		12,700
Aggregate Purchase Price of Notes Initially Purchased		10,618
CLOs
Securitization Transactions [Line Items]
Fair Value			123,893
CLOs | CLO I Securitization [Member]
Securitization Transactions [Line Items]
Fair Value			0
CLOs | Related Party CLO securitization [Member]
Securitization Transactions [Line Items]
Fair Value			50,800
Securities, at fair value(1)		$ 39,700
CLOs | Reset CLO I Securitization [Member]
Securitization Transactions [Line Items]
Fair Value			16,973
CLOs | CLO II Securitization [Member]
Securitization Transactions [Line Items]
Fair Value			14,721
CLOs | CLO III Securitization [Member]
Securitization Transactions [Line Items]
Fair Value			$ 19,071
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Securitization Transactions (_2

Securitization Transactions (Schedule of Residential Loan Securitizations) (Details) - Non-QM loan securitization - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
November 2017 [Member]
Securitization Transactions [Line Items]
Total Face Amount of Certificates Issued		$ 141,233
Economic interest retained		5.10%
Purchase of certificates		$ 700
November 2018 [Member]
Securitization Transactions [Line Items]
Total Face Amount of Certificates Issued	$ 232,518	$ 232,518
Economic interest retained	5.70%	5.70%
Purchase of certificates	$ 1,300	$ 1,300
June 2019 [Member]
Securitization Transactions [Line Items]
Total Face Amount of Certificates Issued	$ 226,913
Economic interest retained	6.10%
Purchase of certificates	$ 1,200
November 2019 [Member]
Securitization Transactions [Line Items]
Total Face Amount of Certificates Issued	$ 267,255
Economic interest retained	6.40%
Purchase of certificates	$ 1,700
The Company [Member] | November 2017 [Member]
Securitization Transactions [Line Items]
Principal Balance of Loans Transferred to the Depositor		141,233
The Company [Member] | November 2018 [Member]
Securitization Transactions [Line Items]
Principal Balance of Loans Transferred to the Depositor	232,518	$ 232,518
The Company [Member] | June 2019 [Member]
Securitization Transactions [Line Items]
Principal Balance of Loans Transferred to the Depositor	226,913
The Company [Member] | November 2019 [Member]
Securitization Transactions [Line Items]
Principal Balance of Loans Transferred to the Depositor	$ 267,255

Securitization Transactions (_3

Securitization Transactions (Schedule of Assets and Liabilities Attributable to Consolidated VIEs) (Details) - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018
Variable Interest Entity [Line Items]
Cash and cash equivalents		$ 72,302	[1]	$ 44,656
Loans, at fair value	[1]	1,412,426
Real estate owned	[1]	30,584
Fair Value				2,939,311
Investment related receivables	[1]	123,120
Interest payable	[1]	7,320
Other secured borrowings, at fair value		594,396	[1]	297,948
Interest and Dividends Payable				7,159
Consolidated Entities [Member]
Variable Interest Entity [Line Items]
Fair Value				314,202
Other secured borrowings, at fair value				297,948
Interest and Dividends Receivable				3,527
Interest and Dividends Payable				$ 103
Non-QM loan securitization | Consolidated Entities [Member]
Variable Interest Entity [Line Items]
Investment related receivables		10,409
Other secured borrowings, at fair value		594,396
Residential mortgage loans
Variable Interest Entity [Line Items]
Loans, at fair value		932,203
Securitized loans [Member] | Residential mortgage loans | Non-QM loan securitization | Consolidated Entities [Member]
Variable Interest Entity [Line Items]
Loans, at fair value		628,415
Real estate owned		$ 658
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

(Schedule of Reverse Repurchase

(Schedule of Reverse Repurchase Agreements by Maturity) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)counterparty		Dec. 31, 2018USD ($)counterparty
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	$ 2,445,300	[1]	$ 1,498,849
Number of Counterparties with Outstanding Reverse Repurchase Agreements | counterparty	28		23
Total secured borrowings	$ 3,200,000		$ 1,911,000
Agency RMBS
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	1,864,473		917,262
Agency RMBS | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	511,996		245,956
Agency RMBS | 31-60 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	744,387		415,379
Agency RMBS | 61-90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	594,738		255,421
Agency RMBS | 91-120 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	10,270		506
Agency RMBS | 181-360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	3,082
U.S. Treasury securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements			273
U.S. Treasury securities | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements			273
Credit
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	580,827
Credit | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	16,549		30,426
Credit | 31-60 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	104,491		189,937
Credit | 61-90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	138,837		93,202
Credit | 91-120 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements			26,222
Credit | 151-180 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	7,460		9,491
Credit | 181-360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	31,498		91,730
Credit | More Than 360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	186,661		140,306
Credit | Total Credit Assets
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	$ 95,331		$ 581,314
Minimum
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	0.15%		0.23%
Repurchase agreements, remaining days to maturity	2 days		2 days
Maximum
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	5.20%		6.07%
Repurchase agreements, remaining days to maturity	882 days		871 days
Weighted Average
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	2.37%		3.13%
Repurchase agreements, remaining days to maturity	91 days		122 days
Weighted Average | Agency RMBS
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	1.98%		2.59%
Repurchase agreements, remaining days to maturity	48 days		47 days
Weighted Average | Agency RMBS | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	2.08%		2.46%
Repurchase agreements, remaining days to maturity	17 days		17 days
Weighted Average | Agency RMBS | 31-60 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	1.93%		2.58%
Repurchase agreements, remaining days to maturity	47 days		46 days
Weighted Average | Agency RMBS | 61-90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	1.96%		2.74%
Repurchase agreements, remaining days to maturity	76 days		76 days
Weighted Average | Agency RMBS | 91-120 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	2.24%		3.31%
Repurchase agreements, remaining days to maturity	93 days		91 days
Weighted Average | Agency RMBS | 181-360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	2.67%
Repurchase agreements, remaining days to maturity	171 days
Weighted Average | U.S. Treasury securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate			3.10%
Repurchase agreements, remaining days to maturity			2 days
Weighted Average | U.S. Treasury securities | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate			3.10%
Repurchase agreements, remaining days to maturity			2 days
Weighted Average | Credit
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.61%
Repurchase agreements, remaining days to maturity	229 days
Weighted Average | Credit | 30 Days or Less
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.38%		2.55%
Repurchase agreements, remaining days to maturity	25 days		22 days
Weighted Average | Credit | 31-60 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.14%		3.32%
Repurchase agreements, remaining days to maturity	48 days		48 days
Weighted Average | Credit | 61-90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.03%		3.21%
Repurchase agreements, remaining days to maturity	73 days		74 days
Weighted Average | Credit | 91-120 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate			4.60%
Repurchase agreements, remaining days to maturity			123 days
Weighted Average | Credit | 151-180 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.89%		4.64%
Repurchase agreements, remaining days to maturity	123 days		166 days
Weighted Average | Credit | 181-360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.87%		4.54%
Repurchase agreements, remaining days to maturity	173 days		316 days
Weighted Average | Credit | More Than 360 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	3.80%		5.15%
Repurchase agreements, remaining days to maturity	250 days		636 days
Weighted Average | Credit | Total Credit Assets
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase Agreements Interest Rate	4.52%		3.98%
Repurchase agreements, remaining days to maturity	678 days		240 days
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Borrowings (Details)

Borrowings (Details) $ in Thousands	Feb. 13, 2019USD ($)	Aug. 18, 2017USD ($)	Dec. 31, 2019USD ($)counterparty		Dec. 31, 2018USD ($)counterparty
Borrowings [Line Items]
Total secured borrowings			$ 3,200,000		$ 1,911,000
Concentration Risk, Reverse Repurchase Agreements					21.00%
Number of Counterparties With Concentration Risk, Reverse Repurchase Agreements | counterparty					1
Number of Counterparties with Outstanding Reverse Repurchase Agreements | counterparty			28		23
Financial Instruments transferred as collateral for repurchase agreements			$ 2,763,000		$ 1,790,000
Financial Instruments transferred as collateral for repurchase agreements, Unsettled			$ 64,700		$ 86,700
Repurchase Agreements amount at risk threshold			10.00%		10.00%
Other secured borrowings			$ 150,334	[1]	$ 114,100
Minimum
Borrowings [Line Items]
Reverse Repurchase Agreements Maturity			30 days		30 days
Repurchase agreements, remaining days to maturity			2 days		2 days
Repurchase Agreements Interest Rate			0.15%		0.23%
Maximum
Borrowings [Line Items]
Reverse Repurchase Agreements Maturity			180 days		180 days
Repurchase agreements, remaining days to maturity			882 days		871 days
Repurchase Agreements Interest Rate			5.20%		6.07%
Reverse repurchase agreements
Borrowings [Line Items]
Cash collateral posted for securities sold under agreements to repurchase			$ 31,000		$ 17,000
Security Owned and Pledged as Collateral, Fair Value			200		200
Securitized residential mortgage loans
Borrowings [Line Items]
Fair Value of Assets Transfered and Accounted for as Secured Borrowings			629,100		314,200
Secured borrowing recourse facility collateralized by unsecured loan portfolio
Borrowings [Line Items]
Other secured borrowings			$ 16,000		$ 13,200
Debt Instrument, Interest Rate, Effective Rate			3.85%
Debt Instrument, Interest Rate, Stated Percentage					4.72%
Secured borrowing recourse facility collateralized by unsecured loan portfolio | Unsecured loans
Borrowings [Line Items]
Fair Value of Assets Transfered and Accounted for as Secured Borrowings			$ 22,300		$ 20,300
Non-QM loan securitization
Borrowings [Line Items]
Other secured borrowings			$ 594,400		$ 297,900
Debt Instrument, Interest Rate, Effective Rate			3.19%
Debt Instrument, Interest Rate, Stated Percentage					3.72%
Secured borrowing facility collateralized by unsecured loan portfolio
Borrowings [Line Items]
Other secured borrowings			$ 102,500		$ 101,000
Debt Instrument, Interest Rate, Effective Rate			4.01%
Debt Instrument, Interest Rate, Stated Percentage					4.68%
Secured borrowing facility collateralized by unsecured loan portfolio | Unsecured loans
Borrowings [Line Items]
Fair Value of Assets Transfered and Accounted for as Secured Borrowings			$ 144,100		$ 149,000
Secured borrowing facility collateralized by ABS backed by consumer loans [Member]
Borrowings [Line Items]
Other secured borrowings			$ 31,800
Debt Instrument, Interest Rate, Effective Rate			5.23%
Fair Value of Assets Transfered and Accounted for as Secured Borrowings			$ 47,900
Senior Notes
Borrowings [Line Items]
Debt Instrument, Interest Rate, Effective Rate			5.80%
Debt Instrument, Face Amount	$ 86,000	$ 86,000
Proceeds from Debt, Net of Issuance Costs		$ 84,700
Debt Instrument, Interest Rate, Stated Percentage	5.50%	5.25%			5.55%
Redemption percentage	100.00%	100.00%
Debt Instrument, Maturity Date		Sep. 1, 2022
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Borrowings (Schedule of Debt Re

Borrowings (Schedule of Debt Repayments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Repurchase Agreements
Debt Instrument [Line Items]
2019 Scheduled Repayment of Principal		$ 1,358,542
2020 Scheduled Repayment of Principal	$ 2,349,969	78,530
2021 Scheduled Repayment of Principal	38,516	61,776
2022 Scheduled Repayment of Principal	56,815	0
2023 Scheduled Repayment of Principal	0	0
Total Scheduled Repayment of Principal	2,445,300	1,498,848
Other Secured Borrowings
Debt Instrument [Line Items]
2019 Scheduled Repayment of Principal		194,135
2020 Scheduled Repayment of Principal	291,364	205,198
2021 Scheduled Repayment of Principal	243,856	13,150
2022 Scheduled Repayment of Principal	203,039	0
2023 Scheduled Repayment of Principal	0	0
Total Scheduled Repayment of Principal	738,259	412,483
Senior Notes
Debt Instrument [Line Items]
2019 Scheduled Repayment of Principal		0
2020 Scheduled Repayment of Principal	0	0
2021 Scheduled Repayment of Principal	0	0
2022 Scheduled Repayment of Principal	86,000	86,000
2023 Scheduled Repayment of Principal	0	0
Total Scheduled Repayment of Principal	86,000	86,000
Total
Debt Instrument [Line Items]
2019 Scheduled Repayment of Principal		1,552,677
2020 Scheduled Repayment of Principal	2,641,333	283,728
2021 Scheduled Repayment of Principal	282,372	74,926
2022 Scheduled Repayment of Principal	345,854	86,000
2023 Scheduled Repayment of Principal	0	0
Total Scheduled Repayment of Principal	$ 3,269,559	$ 1,997,331

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) $ in Thousands	Dec. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Deferred Tax Liabilities, Net	$ (1,065)

Income Taxes Schedule of Compon

Income Taxes Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current Federal Tax Expense (Benefit)					$ 185
Current State and Local Tax Expense (Benefit)					293
Current Income Tax Expense (Benefit)					478
Deferred Federal Income Tax Expense (Benefit)					1,080
Deferred Federal, State and Local, Tax Expense (Benefit)					0
Deferred Income Tax Expense (Benefit)					1,080
Income Tax Expense (Benefit)	$ 1,180	$ 2	$ 376	$ 0	$ 1,558

Income Taxes Schedule of Deferr

Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Operating Loss Carryforwards	$ 3,907
Deferred Tax Assets, Investments	669
Deferred Tax Assets, Valuation Allowance	(157)
Deferred Tax Assets, Gross	4,419
Deferred Tax Liabilities, Investments	(5,484)
Deferred Tax Liabilities, Gross	(5,484)
Deferred Tax Liabilities, Net	$ (1,065)

Income Taxes Reconciliation of

Income Taxes Reconciliation of Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	0.45%
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent	(1.28%)
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent	(17.76%)
Effective Income Tax Rate Reconciliation, Percent	2.41%

Income Taxes Schedule of Tax Ch

Income Taxes Schedule of Tax Characteristics of Distributions (Details)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Ordinary income	85.00%
Return of capital	9.40%
Capital gain	5.60%
Total, percentage of dividends with tax characteristic	100.00%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands		3 Months Ended												12 Months Ended
		Dec. 31, 2019USD ($)		Sep. 30, 2019USD ($)		Jun. 30, 2019USD ($)		Mar. 31, 2019USD ($)		Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)period		Dec. 31, 2018USD ($)period
Related Party Transaction [Line Items]
Annual base management fee percentage														1.50%		1.50%
Base management fee to affiliate		$ 2,663	[1]	$ 1,942	[1]	$ 1,661	[1]	$ 1,722	[1]	$ 1,744	$ 1,830	$ 2,021	$ 1,978	$ 7,988	[1]	$ 7,573	[2]
Base management fee, gross														10,000
Management Fee Expense, Rebates		509		503		508		447		400	400	300	300	$ 2,000	[1]
Incentive fee rate														25.00%		25.00%
Incentive Fee, Loss Carryforward		0								2,100				$ 0		$ 2,100
Incentive fee hurdle rate fixed														9.00%		9.00%
Incentive fee hurdle rate floating														3.00%		3.00%
Incentive Fee Expense		116		$ 0		$ 0		$ 0		0	$ 424	$ 291	$ 0	$ 116		$ 715
Minimum percentage of incentive fee to be paid in share														10.00%		10.00%
Termination Fee, Number Of Periods | period														2		2
Termination Fee, Period														12 months		12 months
Expense Reimbursement Period														60 days		60 days
Expense Reimbursement - Manager														$ 10,900		$ 6,500
Accounts payable and accrued expenses										5,723						5,723
Fair Value										2,939,311						2,939,311
Real estate owned	[3]	30,584												30,584
Investment in unconsolidated entities, at fair value	[3]	71,850												71,850
Securities, at fair value(1)	[3]	2,449,941												2,449,941
Non-controlling interests		39,434	[3]							31,337				39,434	[3]	31,337
Accrued expenses and other liabilities	[3]	7,753												7,753
Reverse repurchase agreements		2,445,300								1,498,849				2,445,300		1,498,849
Management fee rebate																1,380
Other assets		7,563	[3]							15,536				7,563	[3]	15,536
Face amount of investments purchased from related party																$ 2,900
Management Fee, description																The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges.
Incentive fee, description																The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of December 31, 2018, there was a Loss Carryforward of $2.1 million. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP Units issued in such issuance and the number of days that such issued shares and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting (i.e. attributing any share and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP Units at the beginning of such fiscal quarter by (II) the average number of common shares and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of (x) the average number of common shares and LTIP Units outstanding for each day during such fiscal quarter, and (y) the average number of OP Units and OP LTIP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares, OP LTIP Units, and OP Units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares.
Termination fee, description																The Management Agreement requires the Company to pay a termination fee to the Manager in the event of (1) the Company's termination or non-renewal of the Management Agreement without cause or (2) the Company's termination of the Management Agreement based on unsatisfactory performance by the Manager that is materially detrimental to the Company or (3) the Manager's termination of the Management Agreement upon a default by the Company in the performance of any material term of the Management Agreement. Such termination fee will be equal to the amount of three times the sum of (i) the average annual Quarterly Base Management Fee Amounts paid or payable with respect to the two 12-month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal and (ii) the average annual Quarterly Incentive Fee Amounts paid or payable with respect to the two 12-month periods ending on the last day of the latest fiscal quarter completed on or prior to the date of the notice of termination or non-renewal.
Unpaid Principal Balance		1,387,733												1,387,733
Related Party Transaction, Purchases from Related Party														8,800
Commercial mortgage loans and REO
Related Party Transaction [Line Items]
Fair Value		29,500								25,300				29,500		$ 25,300
Reverse repurchase agreements		174,400								77,000				174,400		77,000
Corporate equity securities
Related Party Transaction [Line Items]
Fair Value										43,793						43,793
Secured notes
Related Party Transaction [Line Items]
Fair Value										10,917						10,917
Corporate debt securities
Related Party Transaction [Line Items]
Fair Value										22,392						22,392
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Accounts payable and accrued expenses	[3]	2,000												2,000
Affiliated Entity [Member] | Commercial mortgage loans and REO
Related Party Transaction [Line Items]
Accrued expenses and other liabilities	[3]	700												700
Mortgage Originator
Related Party Transaction [Line Items]
Warehouse facility, monetary amount		$ 5,000								$ 5,000				$ 5,000		$ 5,000
Interest rate		15.00%								15.00%				15.00%		15.00%
Advances made under warehouse facility		$ 0								$ 0				$ 0		$ 0
Related Party-Consumer Loans Titled in Name of Related Party
Related Party Transaction [Line Items]
Fair value of loans held in related party trust		47,900								21,900				47,900		21,900
Purchasing Entity
Related Party Transaction [Line Items]
Fair value of loans held in related party trust		185,400								181,500				185,400		181,500
Consumer loans purchased through affiliate														134,400		166,300
Estimated remaining contingent purchase obligations		287,100								263,500				287,100		263,500
Related party trust - Residential Mortgage Loans and REO
Related Party Transaction [Line Items]
Fair value of loans held in related party trust		304,800								498,100				304,800		498,100
Non-controlling interest of joint venture partner | Unrelated third party joint venture interest | Commercial mortgage loans and REO
Related Party Transaction [Line Items]
Non-controlling interests		3,600								1,400				3,600		1,400
Non-controlling interest of joint venture partner | Related party joint venture interest | Commercial mortgage loans and REO
Related Party Transaction [Line Items]
Non-controlling interests		7,000								4,100				7,000		4,100
Mortgage-related Commercial | Corporate equity securities
Related Party Transaction [Line Items]
Fair Value		17,300								$ 1,100				17,300		$ 1,100
Ownership percentage of limited liability company held as investment										15.00%						15.00%
Jepson Holdings Limited
Related Party Transaction [Line Items]
Investment in unconsolidated entities, at fair value		1,900												1,900
Corporate loan [Member]
Related Party Transaction [Line Items]
Unpaid Principal Balance		18,415												18,415
Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Unpaid Principal Balance		12,500												12,500
Long
Related Party Transaction [Line Items]
Securities, at fair value(1)		2,449,941												2,449,941
Long | Non-Agency RMBS
Related Party Transaction [Line Items]
Securities, at fair value(1)		163,136												163,136
Loan receivable from affiliated entity related to warehouse facility
Related Party Transaction [Line Items]
Other assets		8,100								$ 11,600				8,100		$ 11,600
Participation in multi-borrower financing facility
Related Party Transaction [Line Items]
Outstanding debt of related party		$ 350,600								149,000				$ 350,600		149,000
Investment purchased from related party | Corporate debt securities
Related Party Transaction [Line Items]
Fair Value										$ 1,600						$ 1,600
Note Purchase Agreement May 2019 [Member] | Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Investment Interest Rate		15.00%												15.00%
Note Purchase Agreement May 2019 [Member] | Maximum | Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Note Agreement, Lending Amount Per Agreement		$ 5,000												$ 5,000
Note Purchase Agreement July 2019 [Member] | Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Investment Interest Rate		18.00%												18.00%
Note Purchase Agreement July 2019 [Member] | Maximum | Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Note Agreement, Lending Amount Per Agreement		$ 5,000												$ 5,000
Note Purchase Agreement December 2019 [Member] | Maximum | Corporate loan [Member] | Mortgage Originator
Related Party Transaction [Line Items]
Note Agreement, Lending Amount Per Agreement		$ 2,500												$ 2,500
[1]	See Note 13 for further details on management fee rebates.
[2]	See Note 9 for further details on management fee rebates.
[3]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Long-Term Incentive Plan Unit_2

Long-Term Incentive Plan Units (Narrative) (Details) - USD ($) $ in Thousands	Dec. 13, 2019	Nov. 29, 2019	Nov. 14, 2019	Sep. 12, 2019	Sep. 11, 2019	Dec. 12, 2018	Sep. 12, 2018	Mar. 07, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based long term incentive plan unit expense									$ 475	$ 415
Capital shares reserved for future issuance (in shares)									1,832,309	1,874,223
Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period									13,092	3,334
Grants in Period (in shares)									46,128	39,432
Non Manager [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LTIP Unit Grants in Period (in units)	22,885				14,552
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				3,610					3,610	3,334
Director [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LTIP Unit Grants in Period (in units)							14,440
Grants in Period (in shares)									14,552	14,440
Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
LTIP Unit Grants in Period (in units)						17,383		1,723
Manager [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		1,874	7,608						9,482	0
Vest December 13, 2020 [Member] | Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period (in shares)									12,818
Vest December 11, 2019 [Member] | Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period (in shares)										8,692
Vest December 12, 2019 [Member] | Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period (in shares)										5,886
Vest December 11, 2020 [Member] | Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period (in shares)									8,691	8,691
Vest December 13, 2021 [Member] | Dedicated or partially dedicated personnel [Member] | Long-Term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period (in shares)									10,067
Non-controlling interest in Operating Partnership [Member] | Non-controlling Interest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating Partnership LTIP Units Redeemed (in units)										503,988

Long-Term Incentive Plan Unit_3

Long-Term Incentive Plan Units Long-Term Incentive Plan Units (Unvested LTIP Units) (Details) - Long-Term Incentive Plan Units [Member] - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)	46,128	39,432
Director [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)	14,552	14,440
Grant Date	Sep. 11, 2019	Sep. 12, 2018
Vesting Date(1)	Sep. 10, 2020	Sep. 11, 2019
Vest December 13, 2020 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)	12,818
Grant Date	Dec. 13, 2019
Vesting Date(1)	Dec. 13, 2020
Vest December 13, 2021 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)	10,067
Grant Date	Dec. 13, 2019
Vesting Date(1)	Dec. 13, 2021
Vest December 11, 2019 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)		8,692
Grant Date		Dec. 11, 2018
Vesting Date(1)		Dec. 11, 2019
Vest December 11, 2020 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)	8,691	8,691
Grant Date	Dec. 11, 2018	Dec. 11, 2018
Vesting Date(1)	Dec. 11, 2020	Dec. 11, 2020
Vest March 7, 2019 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)		1,723
Grant Date		Mar. 7, 2018
Vesting Date(1)		Mar. 7, 2019
Vest December 12, 2019 [Member] | Dedicated or partially dedicated personnel [Member]
Schedule of Unvested LTIP Units [Line Items]
Number of OP LTIP Units (in units)		5,886
Grant Date		Dec. 12, 2017
Vesting Date(1)		Dec. 12, 2019

Long-Term Incentive Plan Unit_4

Long-Term Incentive Plan Units (Roll-Forward of Company's LTIP Units Outstanding) (Details) - Long-Term Incentive Plan Units [Member] - shares	Nov. 29, 2019	Nov. 14, 2019	Sep. 12, 2019	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding, beginning of period				521,371	491,159
Granted				37,437	33,546
Exercised				(13,092)	(3,334)
LTIP Units Outstanding, end of period				545,716	521,371
OP LTIP Units Unvested and Outstanding end of period				46,128
OP LTIP Units Vested and Outstanding end of period				499,588	481,939
Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding, beginning of period				375,000	375,000
Granted				0	0
Exercised	(1,874)	(7,608)		(9,482)	0
LTIP Units Outstanding, end of period				365,518	375,000
OP LTIP Units Unvested and Outstanding end of period				0
OP LTIP Units Vested and Outstanding end of period				365,518	375,000
Non-Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding, beginning of period				146,371	116,159
Granted				37,437	33,546
Exercised			(3,610)	(3,610)	(3,334)
LTIP Units Outstanding, end of period				180,198	146,371
OP LTIP Units Unvested and Outstanding end of period				46,128
OP LTIP Units Vested and Outstanding end of period				134,070	106,939

Non-controlling Interests (Deta

Non-controlling Interests (Details) - USD ($) $ in Thousands	Nov. 29, 2019	Nov. 14, 2019	Dec. 12, 2018	Jan. 02, 2013	Dec. 31, 2019		Dec. 31, 2018
Noncontrolling Interest [Line Items]
Non-controlling interests					$ 39,434	[1]	$ 31,337
Non-controlling interest in Operating Partnership [Member] | Non-controlling Interest
Noncontrolling Interest [Line Items]
Operating Partnership Units Issued				212,000
Operating Partnership LTIP Units Issued (in units)			17,383
Operating Partnership LTIP Units Redeemed (in units)							503,988
Operating Partnership LTIP Units Distributed (in units)							503,988
Operating Partnership LTIP Units (in units)					545,716		521,371
Operating Partnership Units (in units)					177,925		212,000
Ownership Percentage					1.60%		2.40%
Noncontrolling Interest in Operating Partnerships					$ 13,400		$ 13,900
Non-controlling interest of joint venture partner | Non-controlling Interest
Noncontrolling Interest [Line Items]
Non-controlling interests					$ 25,900		$ 17,300
Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Operating Partnership Units, converted during period	4,313	29,762
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 03, 2019	Nov. 29, 2019	Nov. 22, 2019	Nov. 14, 2019	Oct. 22, 2019	Sep. 12, 2019	Jul. 26, 2019	Jul. 23, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 02, 2019	Jul. 22, 2019	Feb. 28, 2019	Jun. 13, 2018	Dec. 31, 2017
Subsidiary, Sale of Stock [Line Items]
Preferred Stock, Shares Issued					4,600,000					4,600,000		4,600,000
Proceeds from Issuance of Preferred Stock and Preference Stock					$ 111,000					$ 111,378
Preferred Stock, Dividend Rate, Percentage					6.75%					6.75%
Preferred Stock, Shares Outstanding										4,600,000		4,600,000
Preferred Stock, Shares Authorized										100,000,000		100,000,000
Preferred Stock, Par or Stated Value Per Share					$ 0.001					$ 0.001		$ 0.001
Preferred Stock, Liquidation Preference Per Share										$ 25		$ 25
Preferred Stock, Amount of Preferred Dividends in Arrears										$ 1,500
Preferred Stock Dividend Rate Variable Rate Spread										5.196%
Common stock, shares authorized (in shares)									100,000,000	100,000,000	100,000,000	100,000,000
Common shares										$ 0.001		$ 0.001			$ 0.001
Common stock, shares outstanding									29,796,601	38,647,943	29,796,601	38,647,943					31,335,938
Dividends declared (in usd per share)										$ 1.81	$ 1.64
Dividends paid										$ (54,312)	$ (50,736)
Common shares issued and outstanding upon conversion of all convertible securities (in shares)									30,529,972	39,371,584	30,529,972	39,371,584
Number of shares authorized to be repurchased (in shares)																1,550,000
Shares repurchased (in shares)									361,090	50,825	1,547,148	411,915
Average price per share (USD per share)									$ 15.34	$ 15.39	$ 14.95	$ 15.34
Total cost									$ (5,500)	$ (782)	$ (23,131)	$ (6,300)
Stock Issued During Period, Shares, New Issues	630,000		4,200,000				525,000	3,500,000		8,855,000
Proceeds from issuance of shares, net			$ 75,300				$ 9,100						$ 11,200	$ 60,700
Stock issued during period, shares, conversion of units											3,334
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Preferred Stock, Shares Issued					600,000
OP LTIP Unit [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, shares, conversion of units		1,874		7,608		3,610				13,092
Operating Partnership Units [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, shares, conversion of units		4,313		29,762						34,075

Equity (Summary of Common Stock

Equity (Summary of Common Stock Outstanding) (Details) - shares	Dec. 03, 2019	Nov. 29, 2019	Nov. 22, 2019	Nov. 14, 2019	Sep. 12, 2019	Jul. 26, 2019	Jul. 23, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)									29,796,601	31,335,938
Stock Issued During Period, Shares, New Issues	630,000		4,200,000			525,000	3,500,000		8,855,000
Shares repurchased								(361,090)	(50,825)	(1,547,148)	(411,915)
Stock issued during period, shares, conversion of units										3,334
Shares issued in connection with incentive fee payment										4,477
Ending balance (in shares)								29,796,601	38,647,943	29,796,601	38,647,943
OP LTIP Unit [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued during period, shares, conversion of units		1,874		7,608	3,610				13,092
Operating Partnership Units [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued during period, shares, conversion of units		4,313		29,762					34,075

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net increase (decrease) in shareholders' equity resulting from operations
Net income (loss) attributable to common stockholders	$ 11,122	$ 17,293	$ 12,644	$ 15,408	$ (2,217)	$ 6,661	$ 21,193	$ 21,039	$ 56,467	$ 46,676
Add: Net income (loss) attributable to Convertible Non-controlling Interests									1,305	319
Net income (loss) related to common stockholders and Convertible Non-controlling Interests									57,772	46,995
Dividends Paid:
Dividends									(59,824)	(50,736)
Undistributed (Distributed in excess of) earnings:
Total undistributed (distributed in excess of) earnings									$ (2,052)	$ (3,741)
Weighted average shares outstanding (basic and diluted):
Weighted average shares outstanding (basic and diluted) (in shares)									32,800,224
Basic earnings per share of common stock:
Distributed (in usd per share)									$ 1.81	$ 1.64
Undistributed (Distributed in excess of) (in usd per share)									(0.05)	(0.12)
Basic earnings per common share (in usd per share)									1.76	1.52
Diluted earnings per share of common stock:
Distributed (in usd per share)									1.81	1.64
Undistributed (Distributed in excess of) (usd per share)									(0.05)	(0.12)
Diluted earnings per common share (in usd per share)									$ 1.76	$ 1.52
Net increase (decrease) in equity resulting from operations									$ 3,900	$ 2,900
Common Stock
Net increase (decrease) in shareholders' equity resulting from operations
Net income (loss) attributable to common stockholders										45,922
Dividends Paid:
Dividends									(58,499)	(49,576)
Undistributed (Distributed in excess of) earnings:
Total undistributed (distributed in excess of) earnings									$ (2,032)	$ (3,653)
Weighted average shares outstanding (basic and diluted):
Weighted average shares outstanding (basic and diluted) (in shares)									32,067,768	30,297,401
Long-Term Incentive Plan Units [Member]
Net increase (decrease) in shareholders' equity resulting from operations
Net income (loss) attributable to common stockholders										$ 753
Dividends Paid:
Dividends										(812)
Undistributed (Distributed in excess of) earnings:
Total undistributed (distributed in excess of) earnings										$ (59)
Weighted average shares outstanding (basic and diluted):
Weighted average shares outstanding (basic and diluted) (in shares)										496,962
Non-controlling Interest
Dividends Paid:
Dividends									$ (1,325)	$ (348)
Undistributed (Distributed in excess of) earnings:
Total undistributed (distributed in excess of) earnings									$ (20)	$ (29)
Weighted average shares outstanding (basic and diluted):
Weighted average shares outstanding (basic and diluted) (in shares)									732,456	212,000

(Schedule of Restricted Cash) (

(Schedule of Restricted Cash) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash [Line Items]
Restricted cash		$ 425
Minimum account balance required for regulatory purposes
Restricted Cash [Line Items]
Restricted cash		250
Flow consumer loan purchase and sale agreement
Restricted Cash [Line Items]
Restricted cash	$ 200	$ 175

Offsetting of Assets and Liab_3

Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial derivatives–assets
Financial derivatives–assets, at fair value-	$ 16,788	$ 20,001
Financial Instruments Available for Offset	(12,755)	(10,910)
Cash Collateral (Received) Pledged	(807)	(2,514)
Net Amount	3,226	6,577
Reverse repurchase agreements
Repurchase agreements, at fair value	73,639	61,274
Financial Instruments Available for Offset	(73,639)	(61,274)
Cash Collateral (Received) Pledged	0	0
Net Amount	0	0
Repurchase agreements
Reverse repurchase agreements	2,445,300	1,498,849
Financial Instruments Available for Offset	73,639	61,274
Cash Collateral (Received) Pledged	31,005	16,974
Net Amount	0	0
Financial derivatives–liabilities
Financial derivatives–liabilities, at fair value-	(27,621)	(20,806)
Financial Instruments Available for Offset	12,755	10,910
Cash Collateral (Received) Pledged	12,233	9,896
Net Amount	(2,633)	0
Securities Collateral relating to Reverse Repurchase Agreements	2,800,000	1,790,000
Financial Derivatives - Assets
Financial derivatives–assets
Financial derivatives–assets, at fair value-		20,001
Financial Instruments Transferred or Pledged as Collateral	0	0
Financial derivatives–liabilities
Excess cash collateral	4,300	100
Securities Purchased under Agreements to Resell [Member]
Financial derivatives–assets
Financial Instruments Transferred or Pledged as Collateral	0	0
Reverse repurchase agreements
Repurchase agreements, at fair value		61,274
Financial Derivatives - Liabilities
Financial derivatives–assets
Financial Instruments Transferred or Pledged as Collateral	0	0
Financial derivatives–liabilities
Financial derivatives–liabilities, at fair value-		20,806
Excess cash collateral	23,400	16,400
Reverse repurchase agreements
Financial derivatives–assets
Financial Instruments Transferred or Pledged as Collateral	$ 2,340,656	$ 1,420,601

Counterparty Risk (Exposure to

Counterparty Risk (Exposure to Counterparty Risk) (Details) - Counterparty Risk [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)counterparty
Cash and Cash Equivalents [Member]
Concentration Risk [Line Items]
Amount of Exposure | $	$ 72,302
Number of Counterparties with Exposure | counterparty	11
Percentage of Total Outstanding Unpaid Principal Balance	42.20%
Collateral On Repurchase Agreements Held By Dealers [Member]
Concentration Risk [Line Items]
Amount of Exposure | $	$ 2,793,696
Number of Counterparties with Exposure | counterparty	28
Percentage of Total Outstanding Unpaid Principal Balance	13.80%
Due From Broker [Member]
Concentration Risk [Line Items]
Amount of Exposure | $	$ 79,829
Number of Counterparties with Exposure | counterparty	24
Percentage of Total Outstanding Unpaid Principal Balance	30.90%
Receivable For Securities Sold [Member]
Concentration Risk [Line Items]
Amount of Exposure | $	$ 69,995
Number of Counterparties with Exposure | counterparty	5
Percentage of Total Outstanding Unpaid Principal Balance	62.30%

Counterparty Risk (Narrative) (

Counterparty Risk (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Financial Instruments transferred as collateral for repurchase agreements	$ 1,790,000	$ 2,763,000
Financial Instruments transferred as collateral for repurchase agreements, Unsettled	$ 86,700	64,700
Concentration risk threshold	15.00%
Unencumbered investments held in custody	$ 13,300
Cash and cash equivalents	$ 44,656	$ 72,302	[1]
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Counterparty Risk (% of Total C

Counterparty Risk (% of Total Collateral on Reverse Repurchase Agreements) (Details)	Dec. 31, 2018
Royal Bank of Canada [Member]
Concentration Risk [Line Items]
Percentage of Total Collateral On Reverse Repurchase Agreements	19.00%

Counterparty Risk (% of Due fro

Counterparty Risk (% of Due from Brokers) (Details)	Dec. 31, 2018
Morgan Stanley [Member]
Concentration Risk [Line Items]
% of Total Due from Brokers	37.00%
J.P. Morgan Securities LLC [Member]
Concentration Risk [Line Items]
% of Total Due from Brokers	30.00%

Counterparty Risk (% of Total R

Counterparty Risk (% of Total Receivable for Securities Sold) (Details)	Dec. 31, 2018
J.P. Morgan Securities LLC [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	25.00%
Bank of America Securities [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	26.00%
CS First Boston Limited [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	34.00%

Counterparty Risk (Cash and Cas

Counterparty Risk (Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	[1]	Dec. 31, 2018
Concentration Risk [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 72,302		$ 44,656
Bank of New York Mellon Corporation [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			64.00%
Deutsche Bank Securities [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			5.00%
Bank of America Securities [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			2.00%
Morgan Stanley Institutional Liquidity Fund - Government Portfolio [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			10.00%
BlackRock Liquidity Funds FedFund Portfolio, Institutional Class Shares [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			9.00%
Goldman Sachs Financial Square Funds - Government Fund [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			9.00%
US Bank N.A. [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents			1.00%
[1]	Ellington Financial Inc.'s Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Unfunded commitments	$ 5,200,000	$ 1,000,000
Related party mortgage originator (with flow mortgage loan purchase and sale agreement) [Member] | Non-Exchange Traded Equity Investment in Mortgage Originators [Member]
Other Commitments [Line Items]
Unfunded commitments		0
Maximum guarantees	25,000,000	25,000,000
Drawn down amount being guaranteed	400,000	$ 2,900,000
Corporate loan [Member]
Other Commitments [Line Items]
Unfunded commitment	$ 1,900,000

Financial Highlights (Narrative

Financial Highlights (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018
Investment Company, Financial Highlights [Abstract]
Market Based Total Return	17.30%

Financial Highlights (Results o

Financial Highlights (Results of Operations for a Share Outstanding) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2017
Increase (Decrease) Equity Per Share [Roll Forward]
Beginning Shareholders' Equity Per Share (December 31, 2017)	$ 19.15
Net Investment Income	1.42
Net Realized/Unrealized Gains (Losses)	0.23
Results of Operations Attributable to Equity	1.65
Less: Results of Operations Attributable to Non-controlling Interests	(0.11)
Results of Operations Attributable to Shareholders' Equity	1.54
Dividends Paid to Common Shareholders	(1.64)
Weighted Average Share Impact on Dividends Paid	(0.03)
Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest	(0.10)
Ending Shareholders' Equity Per Share (3/31/2018 and 3/31/2017, respectively)	$ 18.92
Shares Outstanding, end of period	29,796,601	38,647,943	31,335,938
Shareholders Equity Per Share Upon Conversion Of All Convertible Units (in usd per share)	$ 18.92

Financial Highlights (Net Asset

Financial Highlights (Net Asset Value Based Total Return for a Shareholder) (Details)	12 Months Ended
	Dec. 31, 2018
Investment Company, Financial Highlights [Abstract]
Total Return	7.38%

Financial Highlights (Net Inves

Financial Highlights (Net Investment Income Ratio to Average Equity) (Details)	12 Months Ended
	Dec. 31, 2018
Investment Company, Financial Highlights [Abstract]
Net Investment Income (Loss) Ratio	7.04%

Financial Highlights (Expense R

Financial Highlights (Expense Ratios to Average Equity) (Details)	12 Months Ended
	Dec. 31, 2018
Investment Company, Financial Highlights [Abstract]
Operating expenses, before interest expense and other investment related expenses	(2.86%)
Investment Company, Incentive Fee to Average Net Assets	(0.12%)
Interest expense and other investment related expenses	(12.03%)
Total Expenses	(15.01%)

Condensed Quarterly Financial_3

Condensed Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019		Dec. 31, 2018
Securitization Transactions [Line Items]
Interest income	$ 45,353		$ 39,985		$ 38,547		$ 36,016		$ 35,694	$ 35,300	$ 31,941	$ 28,092	$ 159,901		$ 131,027	[1]
Interest Expense	21,205		19,954		19,702		17,618		16,083	15,678	13,383	11,562	78,479		56,707
Interest income	45,353		39,985		38,547		36,016		35,694	35,300	31,941	28,092	159,901		131,027	[1]
Interest Expense	21,205		19,954		19,702		17,618		16,083	15,678	13,383	11,562	78,479		56,707
Interest Income (Expense), Net	24,148		20,031		18,845		18,398						81,422
Realized gains (losses) on securities and loans, financial derivatives, and real estate owned, net	(7,266)		(4,827)		(12,327)		(16,950)
Unrealized gains (losses) on securities and loans, financial derivatives, and real estate owned, net	6,139		7,970		13,300		20,452
Other, net	1,001		539		1,808		2,002						5,350
Noninterest Income	(126)		3,682		2,781		5,504						11,841
Base management fee to affiliate (Net of fee rebates)	2,663	[2]	1,942	[2]	1,661	[2]	1,722	[2]	1,744	1,830	2,021	1,978	7,988	[2]	7,573	[3]
Incentive Fee Expense	116		0		0		0		0	424	291	0	116		715
Debt issuance costs related to Other secured borrowings, at fair value	1,865		0		1,671		0						3,536		1,647
Other									4,201	4,384	3,771	2,952
Professional fees	1,021		698		1,178		1,956						4,853		3,902
Compensation expense	962		712		903		1,072						3,649		2,233
Other expenses									4,609	2,352	2,578	2,074
Operating Expenses	11,783		7,795		9,948		9,211		26,637	24,668	22,044	18,566	38,737		91,916
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	12,239		15,918		11,678		14,691						54,526
Income Tax Expense (Benefit)	1,180		2		376		0						1,558
Earnings from investments in unconsolidated entities	3,262		2,796		2,354		1,797						10,209
Net Income (Loss)	14,321		18,712		13,656		16,488						63,177
Net income (loss) attributable to non-controlling interests	1,733		1,419		1,012		1,080		1,147	813	991	285	5,244		3,235
Preferred Stock Dividends, Income Statement Impact	1,466		0		0		0						1,466
Net Income (Loss) Attributable to Common Stockholders	$ 11,122		$ 17,293		$ 12,644		$ 15,408		$ (2,217)	$ 6,661	$ 21,193	$ 21,039	$ 56,467		$ 46,676
Basic and Diluted (USD per share)	$ 0.31		$ 0.53		$ 0.43		$ 0.52		$ (0.07)	$ 0.22	$ 0.69	$ 0.67	$ 1.76		$ 1.52
Management Fee Expense, Rebates	$ 509		$ 503		$ 508		$ 447		$ 400	$ 400	$ 300	$ 300	$ 2,000	[2]
Other income									1,157	1,046	1,094	716			$ 4,014
Interest and Other Income									36,851	36,346	33,035	28,808			135,041
Operating Income (Loss)									10,214	11,678	10,991	10,242			43,125
Realized gain or loss on investments, financial derivatives, and foreign currency transactions (excludes FX on cash)									9,578	10,102	(1,343)	13,051			25,368
Total Net Unrealized Gain Loss On Investments, Other Secured Borrowings, Financial Derivatives, and Foreign Currency Translation (excluding FX on cash)									(20,862)	(14,306)	12,536	(1,969)			26,318
Investment Company, Realized and Unrealized Gain (Loss) on Investment and Foreign Currency									(11,284)	(4,204)	11,193	11,082			6,786
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS									(1,070)	7,474	22,184	21,324			49,911
Consolidated Entities [Member]
Securitization Transactions [Line Items]
Interest income									2,100	1,300	1,300	1,300			6,000
Interest Expense									1,200	700	800	900			3,600
Interest income									2,100	1,300	1,300	1,300			6,000
Interest Expense									$ 1,200	$ 700	$ 800	$ 900			$ 3,600
[1]	Includes interest income and interest expense of a consolidated securitization trust of $6.0 million and $3.6 million , respectively, for the year ended December 31, 2018. See Note 6 for further details on the Company's consolidated securitization trust.
[2]	See Note 13 for further details on management fee rebates.
[3]	See Note 9 for further details on management fee rebates.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions

Mar. 06, 2020

Feb. 07, 2020

Jan. 25, 2020

Jan. 08, 2020

Dec. 03, 2019

Nov. 22, 2019

Jul. 26, 2019

Jul. 23, 2019

Mar. 12, 2019

Feb. 15, 2019

Dec. 31, 2019

Jan. 24, 2020

Dec. 02, 2019

Jul. 22, 2019

Mar. 11, 2019

Feb. 28, 2019

Feb. 14, 2019

Subsequent Event [Line Items]

Dividend Per Share (USD per share)

$ 0.14

$ 0.41

Common shares

$ 0.001

$ 0.001

Declared date

Mar. 11, 2019

Feb. 14, 2019

Payment Date

Apr. 25, 2019

Mar. 15, 2019

Record Date

Mar. 29, 2019

Mar. 1, 2019

Stock Issued During Period, Shares, New Issues

630,000

4,200,000

525,000

3,500,000

8,855,000

Proceeds from issuance of shares, net

$ 75.3

$ 9.1

$ 11.2

$ 60.7

Subsequent Event [Member]

Subsequent Event [Line Items]

Dividend Per Share (USD per share)

$ 0.15

$ 0.15

$ 0.15

Declared date

Mar. 6, 2020

Feb. 7, 2020

Jan. 8, 2020

Payment Date

Apr. 27, 2020

Mar. 25, 2020

Feb. 25, 2020

Record Date

Mar. 31, 2020

Feb. 28, 2020

Jan. 31, 2020

Stock Issued During Period, Shares, New Issues

5,290,000

Proceeds from issuance of shares, net

$ 95.3

Over-Allotment Option [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues

690,000