$efc 2020 Q1 10-K

Concept	2020 Q1	2019 Q4	2019
Revenue	$52.11M	$45.35M	$159.9M
YoY Change	44.67%	23.07%	18.44%
Cost Of Revenue	$24.53M	$25.85M	$90.10M
YoY Change	26.84%	32.77%	35.29%
Gross Profit	$27.58M	$19.50M	$69.80M
YoY Change	65.35%	12.2%	2.05%
Gross Profit Margin	52.93%	43.0%	43.65%
Selling, General & Admin	$4.600M	$7.140M	$27.10M
YoY Change	-38.58%	-0.28%	7.11%
% of Gross Profit	16.68%	36.62%	38.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$10.21M	$11.78M	$38.74M
YoY Change	10.89%	-55.76%	-57.86%
Operating Profit	$17.37M	$7.717M	$31.06M
YoY Change	132.51%	-24.45%	-27.97%
Interest Expense	$22.09M	$21.21M	$78.48M
YoY Change	25.38%	31.85%	38.39%
% of Operating Profit	127.2%	274.78%	252.64%
Other Income/Expense, Net	$1.752M	$1.160M	$4.354M
YoY Change	77.87%	-1550.0%	129.4%
Pretax Income	-$128.3M	$14.32M	$63.18M
YoY Change	-878.4%	-1438.41%	26.61%
Income Tax	-$547.0K	$1.180M	$1.558M
% Of Pretax Income		8.24%	2.47%
Net Earnings	-$129.4M	$11.12M	$56.47M
YoY Change	-939.81%	-601.67%	20.98%
Net Earnings / Revenue	-248.32%	24.52%	35.31%
Basic Earnings Per Share	-$3.04		$1.76
Diluted Earnings Per Share	-$3.04	$254.6K	$1.76
COMMON SHARES
Basic Shares Outstanding	44.07M shares	33.77M shares
Diluted Shares Outstanding

Concept	2020 Q1	2019 Q4	2019
SHORT-TERM ASSETS
Cash & Short-Term Investments	$136.7M	$72.30M	$72.30M
YoY Change	144.54%	61.74%	61.74%
Cash & Equivalents	$136.7M	$72.30M	$72.30M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$166.5M	$79.80M	$79.80M
Other Receivables	$408.3M	$123.1M	$123.1M
Total Short-Term Assets	$711.5M	$275.2M	$275.2M
YoY Change	269.99%	-70.57%	-70.57%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$3.004B	$4.008B	$4.008B
YoY Change	14.29%	33.57%	33.57%
Other Assets	$200.0K	$200.0K	$200.0K
YoY Change	0.0%	-50.0%	-50.0%
Total Long-Term Assets	$3.066B	$4.063B	$4.063B
YoY Change	14.48%	33.81%	33.81%
TOTAL ASSETS
Total Short-Term Assets	$711.5M	$275.2M	$275.2M
Total Long-Term Assets	$3.066B	$4.063B	$4.063B
Total Assets	$3.778B	$4.338B	$4.338B
YoY Change	31.6%	9.23%	9.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$36.30M	$68.30M	$68.30M
YoY Change	-79.02%	-86.17%	-86.17%
Accrued Expenses	$13.30M	$15.10M	$15.10M
YoY Change	166.0%	109.72%	109.72%
Deferred Revenue
YoY Change
Short-Term Debt	$2.034B	$2.445B	$2.445B
YoY Change	31.24%	63.15%	63.15%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$2.094B	$2.539B	$2.539B
YoY Change	20.77%	26.82%	26.82%
LONG-TERM LIABILITIES
Long-Term Debt	$812.9M	$830.0M	$830.0M
YoY Change	67.78%	66.97%	66.97%
Other Long-Term Liabilities	$61.10M	$101.0M	$101.0M
YoY Change	14.42%	-88.41%	-88.41%
Total Long-Term Liabilities	$874.0M	$931.0M	$931.0M
YoY Change	62.48%	-31.99%	-31.99%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.094B	$2.539B	$2.539B
Total Long-Term Liabilities	$874.0M	$931.0M	$931.0M
Total Liabilities	$2.968B	$3.470B	$3.509B
YoY Change	30.29%	2.76%	2.97%
SHAREHOLDERS EQUITY
Retained Earnings	-$252.7M	-$103.6M
YoY Change	146.6%
Common Stock	$44.00K	$39.00K
YoY Change	46.67%	-99.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$774.4M	$829.3M	$829.3M
YoY Change
Total Liabilities & Shareholders Equity	$3.778B	$4.338B	$4.338B
YoY Change	31.6%	9.23%	9.23%

Concept	2020 Q1	2019 Q4	2019
OPERATING ACTIVITIES
Net Income	-$129.4M	$11.12M	$56.47M
YoY Change	-939.81%	-601.67%	20.98%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	$28.87M	$23.10M	$79.25M
YoY Change	37.51%	-131.6%	-116.04%
INVESTING ACTIVITIES
Capital Expenditures	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$428.5M	-$951.2M	-$1.665B
YoY Change	-763.31%
Cash From Investing Activities	$428.5M	-$951.2M	-$1.665B
YoY Change	-763.7%
FINANCING ACTIVITIES
Cash Dividend Paid	$21.02M		$54.31M
YoY Change	68.23%		7.12%
Common Stock Issuance & Retirement, Net	-$92.50M		-$156.0M
YoY Change	-11928.9%		-774.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$392.9M	967.2M	$1.613B
YoY Change	-820.45%	1406.54%	228.04%
NET CHANGE
Cash From Operating Activities	$28.87M	23.10M	$79.25M
Cash From Investing Activities	$428.5M	-951.2M	-$1.665B
Cash From Financing Activities	-$392.9M	967.2M	$1.613B
Net Change In Cash	$64.44M	39.10M	$27.40M
YoY Change	487.4%	-539.33%	-1163.1%
FREE CASH FLOW
Cash From Operating Activities	$28.87M	$23.10M	$79.25M
Capital Expenditures	$0.00
Free Cash Flow	$28.87M
YoY Change

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2019	dei	Amendment Flag AmendmentFlag	false
CY2019	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2019	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2019	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2019
CY2019	dei	Entity Central Index Key EntityCentralIndexKey	0001411342
CY2018Q4	efc	Derivatives Cost DerivativesCost	22526000	USD
CY2018Q4	efc	Derivatives Proceeds DerivativesProceeds	19019000	USD
CY2019Q1	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	447000	USD
CY2019Q2	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	508000	USD
CY2019Q3	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	503000	USD
CY2019Q4	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	509000	USD
CY2018Q4	efc	Othersecuredfinancingatfairvalue Proceeds OthersecuredfinancingatfairvalueProceeds	298706000	USD
CY2018Q4	efc	Othersecuredfinancingproceeds Othersecuredfinancingproceeds	114100000	USD
CY2018Q4	efc	Repurchase Agreements Cost RepurchaseAgreementsCost	61274000	USD
CY2018	efc	Termination Fee Description TerminationFeeDescription	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.
CY2019Q4	efc	Upfrontpointsonwrittencreditderivative Upfrontpointsonwrittencreditderivative	57.0
CY2018Q4	efc	Writtencreditderivativespreadthreshold Writtencreditderivativespreadthreshold	0.20000
CY2019Q4	efc	Writtencreditderivativespreadthreshold Writtencreditderivativespreadthreshold	0.20000
CY2018Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2018Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	29796601	shares
CY2019Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	38647943	shares
CY2019Q1	us-gaap	Dividend Payable Date To Be Paid Day Month And Year DividendPayableDateToBePaidDayMonthAndYear	2019-03-15
CY2019Q1	us-gaap	Dividend Payable Date To Be Paid Day Month And Year DividendPayableDateToBePaidDayMonthAndYear	2019-04-25
CY2019Q1	us-gaap	Dividends Payable Date Declared Day Month And Year DividendsPayableDateDeclaredDayMonthAndYear	2019-02-14
CY2019Q1	us-gaap	Dividends Payable Date Declared Day Month And Year DividendsPayableDateDeclaredDayMonthAndYear	2019-03-11
CY2019Q1	us-gaap	Dividends Payable Date Of Record Day Month And Year DividendsPayableDateOfRecordDayMonthAndYear	2019-03-01
CY2019Q1	us-gaap	Dividends Payable Date Of Record Day Month And Year DividendsPayableDateOfRecordDayMonthAndYear	2019-03-29
CY2018	us-gaap	Incentive Fee Description IncentiveFeeDescription	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.
CY2018	us-gaap	Investment Company Contractual Fee Waived InvestmentCompanyContractualFeeWaived	1380000	USD
CY2018Q4	us-gaap	Investment Owned At Cost InvestmentOwnedAtCost	2970306000	USD
CY2018	us-gaap	Investment Sold Not Yet Purchased Sale Proceeds InvestmentSoldNotYetPurchasedSaleProceeds	844604000	USD
CY2018	us-gaap	Management Fee Description ManagementFeeDescription	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.
CY2019	us-gaap	Preferred Stock Dividend Rate Percentage PreferredStockDividendRatePercentage	0.0675
CY2019Q4	us-gaap	Preferred Stock Liquidation Preference Value PreferredStockLiquidationPreferenceValue	115000	USD
CY2019Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	4600000	shares
CY2019	dei	Document Type DocumentType	10-K
CY2019	dei	Document Annual Report DocumentAnnualReport	true
CY2019	dei	Document Period End Date DocumentPeriodEndDate	2019-12-31
CY2019	dei	Document Transition Report DocumentTransitionReport	false
CY2019	dei	Entity File Number EntityFileNumber	001-34569
CY2019	dei	Entity Registrant Name EntityRegistrantName	Ellington Financial Inc.
CY2019	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2019	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	26-0489289
CY2019	dei	Entity Address Address Line1 EntityAddressAddressLine1	53 Forest Avenue
CY2019	dei	Entity Address City Or Town EntityAddressCityOrTown	Old Greenwich
CY2019	dei	Entity Address State Or Province EntityAddressStateOrProvince	CT
CY2019	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	06870
CY2019	dei	City Area Code CityAreaCode	203
CY2019	dei	Local Phone Number LocalPhoneNumber	698-1200
CY2019	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2019	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2019	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2019	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2019	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2019	dei	Entity Small Business EntitySmallBusiness	true
CY2019	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2019	dei	Entity Shell Company EntityShellCompany	false
CY2019Q2	dei	Entity Public Float EntityPublicFloat	477738614	USD
CY2020Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	44068096	shares
CY2019Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	72302000	USD
CY2019Q4	us-gaap	Restricted Cash RestrictedCash	175000	USD
CY2019Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	2449941000	USD
CY2019Q4	efc	Investmentinloans Investmentinloans	1412426000	USD
CY2019Q4	us-gaap	Equity Method Investments Fair Value Disclosure EquityMethodInvestmentsFairValueDisclosure	71850000	USD
CY2019Q4	us-gaap	Real Estate Acquired Through Foreclosure RealEstateAcquiredThroughForeclosure	30584000	USD
CY2019Q4	us-gaap	Derivative Assets DerivativeAssets	16788000	USD
CY2019Q4	us-gaap	Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement	73639000	USD
CY2019Q4	us-gaap	Deposits Assets DepositsAssets	79829000	USD
CY2019Q4	efc	Receivables From Securities Sold Financial Derivatives Interestand Principal ReceivablesFromSecuritiesSoldFinancialDerivativesInterestandPrincipal	123120000	USD
CY2019Q4	us-gaap	Other Assets OtherAssets	7563000	USD
CY2019Q4	us-gaap	Assets Assets	4338217000	USD
CY2019Q4	us-gaap	Financial Instruments Sold Not Yet Purchased At Fair Value FinancialInstrumentsSoldNotYetPurchasedAtFairValue	73409000	USD
CY2019Q4	us-gaap	Assets Sold Under Agreements To Repurchase Repurchase Liability AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability	2445300000	USD
CY2019Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	27621000	USD
CY2019Q4	us-gaap	Other Payables To Broker Dealers And Clearing Organizations OtherPayablesToBrokerDealersAndClearingOrganizations	2197000	USD
CY2019Q4	srt	Payables To Broker Dealers And Clearing Organizations PayablesToBrokerDealersAndClearingOrganizations	66133000	USD
CY2019Q4	us-gaap	Other Secured Financings OtherSecuredFinancings	150334000	USD
CY2019Q4	efc	Othersecuredborrowingsatfairvalue Othersecuredborrowingsatfairvalue	594396000	USD
CY2019Q4	us-gaap	Long Term Debt LongTermDebt	85298000	USD
CY2019Q4	us-gaap	Management Fee Payable ManagementFeePayable	2663000	USD
CY2019Q4	efc	Accrued Incentive Fee AccruedIncentiveFee	116000	USD
CY2019Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	6978000	USD
CY2019Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	7320000	USD
CY2019Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	7753000	USD
CY2019Q4	us-gaap	Liabilities Liabilities	3469518000	USD
CY2019Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2019Q4	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	111034000	USD
CY2019Q4	us-gaap	Common Stock Value CommonStockValue	39000	USD
CY2019Q4	us-gaap	Other Additional Capital OtherAdditionalCapital	821747000	USD
CY2019Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-103555000	USD
CY2019Q4	us-gaap	Stockholders Equity StockholdersEquity	829265000	USD
CY2019Q4	us-gaap	Minority Interest MinorityInterest	39434000	USD
CY2019Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	868699000	USD
CY2019Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	4338217000	USD
CY2019	us-gaap	Interest Income Operating InterestIncomeOperating	159901000	USD
CY2019	us-gaap	Interest Expense InterestExpense	78479000	USD
CY2019	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	81422000	USD
CY2019	efc	Securities And Loans Realized Gains Losses SecuritiesAndLoansRealizedGainsLosses	-12785000	USD
CY2019	efc	Net Realized Gain Loss On Derivatives NetRealizedGainLossOnDerivatives	-30912000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Realized Gains Losses On Disposal RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal	2327000	USD
CY2019	efc	Securities And Loans Unrealized Gains Losses SecuritiesAndLoansUnrealizedGainsLosses	54478000	USD
CY2019	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-5338000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Unrealized Gains Losses RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses	-1279000	USD
CY2019	us-gaap	Noninterest Income Other Operating Income NoninterestIncomeOtherOperatingIncome	5350000	USD
CY2019	us-gaap	Noninterest Income NoninterestIncome	11841000	USD
CY2019	us-gaap	Management Fee Expense ManagementFeeExpense	7988000	USD
CY2019	us-gaap	Incentive Fee Expense IncentiveFeeExpense	116000	USD
CY2019	efc	Otherinvestmentrelatedexpenses Servicingexpense OtherinvestmentrelatedexpensesServicingexpense	8632000	USD
CY2019	efc	Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	3536000	USD
CY2019	efc	Otherinvestmentrelatedexpense Other OtherinvestmentrelatedexpenseOther	5609000	USD
CY2019	us-gaap	Professional Fees ProfessionalFees	4853000	USD
CY2019	us-gaap	Salaries And Wages SalariesAndWages	3649000	USD
CY2019	us-gaap	Other Expenses OtherExpenses	4354000	USD
CY2019	us-gaap	Operating Expenses OperatingExpenses	38737000	USD
CY2019	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	54526000	USD
CY2019	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1558000	USD
CY2019	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	10209000	USD
CY2019	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	63177000	USD
CY2019	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	5244000	USD
CY2019	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1466000	USD
CY2019	us-gaap	Net Income Loss NetIncomeLoss	56467000	USD
CY2019	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	1.76
CY2018Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	595170000	USD
CY2019	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	63177000	USD
CY2019	us-gaap	Noncontrolling Interest Increase From Sale Of Parent Equity Interest NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest	27650000	USD
CY2019	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	59824000	USD
CY2019	us-gaap	Dividends Preferred Stock Cash DividendsPreferredStockCash	1466000	USD
CY2019	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	23063000	USD
CY2019	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	782000	USD
CY2019	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	475000	USD
CY2019Q4	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	111034000	USD
CY2019Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	868699000	USD
CY2019	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	1.81
CY2019	us-gaap	Preferred Stock Dividends Per Share Declared PreferredStockDividendsPerShareDeclared	0.45938
CY2019	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	63177000	USD
CY2019	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-48132000	USD
CY2019	efc	Securities And Loans Realized Gains Losses SecuritiesAndLoansRealizedGainsLosses	-12785000	USD
CY2019	efc	Net Realized Gain Loss On Derivatives NetRealizedGainLossOnDerivatives	-30912000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Realized Gains Losses On Disposal RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal	2327000	USD
CY2019	efc	Securities And Loans Unrealized Gains Losses SecuritiesAndLoansUnrealizedGainsLosses	54478000	USD
CY2019	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-5338000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Unrealized Gains Losses RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses	-1279000	USD
CY2019	efc	Unrealizedgainslossesothernet Unrealizedgainslossesothernet	-645000	USD
CY2019	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-2392000	USD
CY2019	efc	Foreign Currency Translation Gain Loss Unrealized ForeignCurrencyTranslationGainLossUnrealized	-3310000	USD
CY2019	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	263000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	475000	USD
CY2019	efc	Interestincomerelatedtoconsolidatedsecuritizationtrust Interestincomerelatedtoconsolidatedsecuritizationtrust	-16034000	USD
CY2019	efc	Interestexpenserelatedtoconsolidatedsecuritizationtrust Interestexpenserelatedtoconsolidatedsecuritizationtrust	15136000	USD
CY2019	efc	Cashoutflowfordebtissuancecostsrelatedto Othersecuredborrowingsatfairvalue CashoutflowfordebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	1381000	USD
CY2019	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	10209000	USD
CY2019	efc	Increasedecreaseininterestandprincipalreceivable Increasedecreaseininterestandprincipalreceivable	15449000	USD
CY2019	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	3663000	USD
CY2019	efc	Increasedecreaseinaccruedmanagementfee Increasedecreaseinaccruedmanagementfee	919000	USD
CY2019	efc	Increase Decreasein Accrued Incentive Fee IncreaseDecreaseinAccruedIncentiveFee	116000	USD
CY2019	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	161000	USD
CY2019	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	1607000	USD
CY2019	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	79248000	USD
CY2019	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	3057372000	USD
CY2019	us-gaap	Payments To Acquire Loans Receivable PaymentsToAcquireLoansReceivable	1040006000	USD
CY2019	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	240000	USD
CY2019	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	1838182000	USD
CY2019	us-gaap	Proceeds From Sale Of Loans Receivable ProceedsFromSaleOfLoansReceivable	28878000	USD
CY2019	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	42124000	USD
CY2019	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	49758000	USD
CY2019	efc	Proceeds From Dispositionof Real Estate Owned ProceedsFromDispositionofRealEstateOwned	24059000	USD
CY2019	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	275221000	USD
CY2019	us-gaap	Proceeds From Collection Of Loans Receivable ProceedsFromCollectionOfLoansReceivable	304953000	USD
CY2019	efc	Proceeds From Investments Sold Short ProceedsFromInvestmentsSoldShort	645553000	USD
CY2019	efc	Repurchase Of Securities Sold Short Investing Activities RepurchaseOfSecuritiesSoldShortInvestingActivities	650576000	USD
CY2019	us-gaap	Payments For Derivative Instrument Investing Activities PaymentsForDerivativeInstrumentInvestingActivities	90057000	USD
CY2019	us-gaap	Proceeds From Derivative Instrument Investing Activities ProceedsFromDerivativeInstrumentInvestingActivities	58578000	USD
CY2019	us-gaap	Payments For Securities Purchased Under Agreements To Resell PaymentsForSecuritiesPurchasedUnderAgreementsToResell	7050581000	USD
CY2019	us-gaap	Proceeds From Securities Purchased Under Agreements To Resell ProceedsFromSecuritiesPurchasedUnderAgreementsToResell	7038216000	USD
CY2019	efc	Proceeds From Brokers Investing Activities ProceedsFromBrokersInvestingActivities	6483000	USD
CY2019	efc	Payments To Brokers Investing Activities PaymentsToBrokersInvestingActivities	3458000	USD
CY2019	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1664533000	USD
CY2019	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	156742000	USD
CY2019	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	111378000	USD
CY2019	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	712000	USD
CY2019	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	782000	USD
CY2019	us-gaap	Payments Of Dividends PaymentsOfDividends	54312000	USD
CY2019	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	27650000	USD
CY2019	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	23063000	USD
CY2019	efc	Proceedsfromissuanceofsecuritizeddebt Proceedsfromissuanceofsecuritizeddebt	97642000	USD
CY2019	efc	Principal Payment On Securitized Debt PrincipalPaymentOnSecuritizedDebt	61408000	USD
CY2019	efc	Borrowingsunder Reverse Repurchase Agreements BorrowingsunderReverseRepurchaseAgreements	9047746000	USD
CY2019	efc	Repaymentsof Reverse Repurchase Agreements RepaymentsofReverseRepurchaseAgreements	7862227000	USD
CY2019	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	250666000	USD
CY2019	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	62608000	USD
CY2019	efc	Proceeds From Brokers Financing Activities ProceedsFromBrokersFinancingActivities	-13676000	USD
CY2019	efc	Payments To Brokers Financing Activities PaymentsToBrokersFinancingActivities	355000	USD
CY2019	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1612681000	USD
CY2019	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	27396000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	45081000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	72477000	USD
CY2019	us-gaap	Interest Paid Net InterestPaidNet	78754000	USD
CY2019	us-gaap	Income Taxes Paid IncomeTaxesPaid	189000	USD
CY2019Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	6978000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	475000	USD
CY2019	efc	Purchaseof Investments Non Cash PurchaseofInvestmentsNonCash	2975000	USD
CY2019	efc	Distributionsfrominvestmentsinunconsolidatedentities Distributionsfrominvestmentsinunconsolidatedentities	2975000	USD
CY2019	us-gaap	Transfer To Other Real Estate TransferToOtherRealEstate	22577000	USD
CY2019	efc	Proceedsfromprincipalpaymentsofinvestmentsnoncash Proceedsfromprincipalpaymentsofinvestmentsnoncash	119683000	USD
CY2019	efc	Proceedsreceivedfrom Othersecuredborrowingsatfairvaluenoncash ProceedsreceivedfromOthersecuredborrowingsatfairvaluenoncash	227428000	USD
CY2019	efc	Principalpaymentson Othersecuredborrowingsatfairvaluenoncash PrincipalpaymentsonOthersecuredborrowingsatfairvaluenoncash	119683000	USD
CY2019	efc	Repaymentsofrepurchaseagreementnoncash Repaymentsofrepurchaseagreementnoncash	-226945000	USD
CY2019	us-gaap	Notes Reduction NotesReduction	86000000	USD
CY2019	us-gaap	Notes Issued1 NotesIssued1	86000000	USD
CY2019Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2019	us-gaap	Comparability Of Prior Year Financial Data ComparabilityOfPriorYearFinancialData	<div style="line-height:174%;padding-top:6px;text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassification and Presentation</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investments in securities are now accounted for in accordance with ASC 320, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Investments—Debt and Equity Securities</span><span style="font-family:inherit;font-size:10pt;"> ("ASC 320");</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company elected not to designate its financial derivatives as hedging instruments in accordance with ASC 815, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging</span><span style="font-family:inherit;font-size:10pt;"> ("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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is required to account for certain of its equity investments under ASC 323-10, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Investments—Equity Method and Joint Ventures</span><span style="font-family:inherit;font-size:10pt;"> ("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.</span></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Statement of Assets, Liabilities, and Equity has been changed to a Consolidated Balance Sheet;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Condensed Schedule of Investments has been removed;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Statement of Cash Flows has been changed, and now includes a section for investing activities;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain footnotes have been changed to reflect conformity with applicable U.S. GAAP for operating companies;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation </span><span style="font-family:inherit;font-size:10pt;">("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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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";</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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</span></div></td></tr></table><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The financial highlights disclosures, which are not required under U.S. GAAP for operating companies, have been removed.</span></div>
CY2019	us-gaap	Revenue Recognition Interest RevenueRecognitionInterest	Interest Income<span style="font-family:inherit;font-size:10pt;">: 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. </span><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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. </span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span><span style="font-family:inherit;font-size:10pt;"><span>90</span></span><span style="font-family:inherit;font-size:10pt;"> 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).</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div>
CY2019	efc	Numberofdaystodeterminenonperformanceofloan Numberofdaystodeterminenonperformanceofloan	P90D
CY2019Q4	us-gaap	Investment Owned Underlying Face Amount At Market Value InvestmentOwnedUnderlyingFaceAmountAtMarketValue	2282149000	USD
CY2019Q4	us-gaap	Debt Instrument Unamortized Discount Premium Net DebtInstrumentUnamortizedDiscountPremiumNet	-150821000	USD
CY2019Q4	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	2342369000	USD
CY2019Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	43801000	USD
CY2019Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	9638000	USD
CY2019Q4	efc	Investment Owned At Fair Value Net InvestmentOwnedAtFairValueNet	2376532000	USD
CY2019	efc	Catchup Premium Amortization Adjustment CatchupPremiumAmortizationAdjustment	-4700000	USD
CY2019	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	1893925000	USD
CY2019	us-gaap	Available For Sale Securities Gross Realized Gains AvailableForSaleSecuritiesGrossRealizedGains	23957000	USD
CY2019	us-gaap	Available For Sale Securities Gross Realized Losses AvailableForSaleSecuritiesGrossRealizedLosses	36599000	USD
CY2019	us-gaap	Available For Sale Securities Gross Realized Gain Loss Net AvailableForSaleSecuritiesGrossRealizedGainLossNet	-12642000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months	471379000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss	5146000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger	162938000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss	3861000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Unrealized Loss Position DebtSecuritiesAvailableForSaleUnrealizedLossPosition	634317000	USD
CY2019Q4	us-gaap	Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss	9007000	USD
CY2019	us-gaap	Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities	28700000	USD
CY2019Q4	us-gaap	Investment Owned Balance Principal Amount InvestmentOwnedBalancePrincipalAmount	1387733000	USD
CY2019Q4	efc	Investmentinloans Investmentinloans	1412426000	USD
CY2019Q4	us-gaap	Equity Method Investments Fair Value Disclosure EquityMethodInvestmentsFairValueDisclosure	71900000	USD
CY2019	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	10200000	USD
CY2019Q4	efc	Equity Method Investments Summarized Financial Information Investments EquityMethodInvestmentsSummarizedFinancialInformationInvestments	560949000	USD
CY2019Q4	efc	Equity Method Investments Summarized Financial Information Otherassets EquityMethodInvestmentsSummarizedFinancialInformationOtherassets	65580000	USD
CY2019Q4	us-gaap	Equity Method Investment Summarized Financial Information Assets EquityMethodInvestmentSummarizedFinancialInformationAssets	626529000	USD
CY2019Q4	efc	Equity Method Investment Summarized Financial Information Borrowings EquityMethodInvestmentSummarizedFinancialInformationBorrowings	387910000	USD
CY2019Q4	efc	Equity Method Investment Summarized Financial Information Otherliabilities EquityMethodInvestmentSummarizedFinancialInformationOtherliabilities	28134000	USD
CY2019Q4	us-gaap	Equity Method Investment Summarized Financial Information Liabilities EquityMethodInvestmentSummarizedFinancialInformationLiabilities	416044000	USD
CY2019Q4	us-gaap	Equity Method Investment Summarized Financial Information Equity EquityMethodInvestmentSummarizedFinancialInformationEquity	210485000	USD
CY2019Q4	us-gaap	Equity Method Investment Summarized Financial Information Liabilities And Equity EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity	626529000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Interest Income EquityMethodInvestmentSummarizedFinancialInformationInterestIncome	30587000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Interestexpense EquityMethodInvestmentSummarizedFinancialInformationInterestexpense	-13316000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Netinterestincome EquityMethodInvestmentSummarizedFinancialInformationNetinterestincome	17271000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Realizedandunrealizedgainlossoninvestments EquityMethodInvestmentSummarizedFinancialInformationRealizedandunrealizedgainlossoninvestments	40901000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Othernet EquityMethodInvestmentSummarizedFinancialInformationOthernet	31848000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Totalotherincomeloss EquityMethodInvestmentSummarizedFinancialInformationTotalotherincomeloss	72749000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Expenses EquityMethodInvestmentSummarizedFinancialInformationExpenses	58018000	USD
CY2019	efc	Net Realized Gains Losseson Periodic Settlementsof Interest Rate Swaps NetRealizedGainsLossesonPeriodicSettlementsofInterestRateSwaps	1695000	USD
CY2018Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	20	property
CY2019	efc	Equity Method Investment Summarized Financial Information Netincomelossbeforeincometax EquityMethodInvestmentSummarizedFinancialInformationNetincomelossbeforeincometax	32002000	USD
CY2019	efc	Equity Method Investment Summarized Financial Information Taxexpensebenefit EquityMethodInvestmentSummarizedFinancialInformationTaxexpensebenefit	979000	USD
CY2019	us-gaap	Equity Method Investment Summarized Financial Information Net Income Loss EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss	31023000	USD
CY2018Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	30778000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Transfer From Mortgage Loans Number Of Properties RealEstateAcquiredThroughForeclosureTransferFromMortgageLoansNumberOfProperties	8	property
CY2019	us-gaap	Transfer To Other Real Estate TransferToOtherRealEstate	22577000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Capital Expenditures And Other Adjustments RealEstateAcquiredThroughForeclosureCapitalExpendituresAndOtherAdjustments	240000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Adjustmenttorecordatlowerofcostorfairvalue RealEstateAcquiredThroughForeclosureAdjustmenttorecordatlowerofcostorfairvalue	1002000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Disposals Number Of Properties RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties	13	property
CY2019	efc	Real Estate Acquired Through Foreclosure Disposals RealEstateAcquiredThroughForeclosureDisposals	22009000	USD
CY2019Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	15	property
CY2019Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	30584000	USD
CY2019	efc	Real Estate Acquired Through Foreclosure Disposals Number Of Properties RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties	13	property
CY2019	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	2300000	USD
CY2019Q4	efc	Real Estate Owned Acquired Through Foreclosure Fair Value RealEstateOwnedAcquiredThroughForeclosureFairValue	19400000	USD
CY2019Q4	us-gaap	Derivative Assets DerivativeAssets	16788000	USD
CY2019Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	27621000	USD
CY2019Q4	us-gaap	Derivative Assets Liabilities At Fair Value Net DerivativeAssetsLiabilitiesAtFairValueNet	-10833000	USD
CY2019	efc	Net Realized Gains Losseson Periodic Settlements NetRealizedGainsLossesonPeriodicSettlements	-32562000	USD
CY2019	efc	Net Realized Gain Losson Derivativesincludinggainlossonforeigncurrencytransactions NetRealizedGainLossonDerivativesincludinggainlossonforeigncurrencytransactions	-30867000	USD
CY2019	efc	Changein Net Unrealized Gains Losseson Accrued Periodic Settlementsof Interest Rate Swaps ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlementsofInterestRateSwaps	-764000	USD
CY2019	efc	Changein Net Unrealized Gains Losseson Accrued Periodic Settlements ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlements	-4573000	USD
CY2019	efc	Unrealized Gain Losson Derivatives Including Gain Lossfrom Foreign Currency Remeasurement UnrealizedGainLossonDerivativesIncludingGainLossfromForeignCurrencyRemeasurement	-5337000	USD
CY2019Q4	efc	Totalsecuredborrowings Totalsecuredborrowings	3200000000	USD
CY2019Q4	efc	Numberof Counterpartieswith Outstanding Reverse Repurchase Agreements NumberofCounterpartieswithOutstandingReverseRepurchaseAgreements	28	counterparty
CY2019	us-gaap	Schedule Of Repurchase Agreements ScheduleOfRepurchaseAgreements	<div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:62%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:9%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Maturity</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Outstanding</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrowings</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Days to Maturity</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Agency RMBS:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>511,996</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.08</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>744,387</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.93</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>594,738</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.96</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">91-120 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,270</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.24</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>93</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,082</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.67</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>171</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Agency RMBS</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,864,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.98</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Credit:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,549</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.38</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>104,491</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.14</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>138,837</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.03</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>73</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121-150 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,460</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.89</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>123</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,498</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.87</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>173</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">181-360 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>186,661</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.80</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>250</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">> 360 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>95,331</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.52</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>678</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Credit Assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>580,827</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.61</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,445,300</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.37</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:62%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:9%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2018</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Maturity</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Outstanding</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrowings</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Days to Maturity</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Agency RMBS:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245,956</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.46</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>415,379</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.58</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>255,421</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.74</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">91-120 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>506</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.31</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Agency RMBS</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>917,262</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.59</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Credit:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,426</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.55</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,937</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.32</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>93,202</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.21</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>74</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121-150 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26,222</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.60</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>123</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,491</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.64</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>166</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">181-360 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91,730</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.54</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>316</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">> 360 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>140,306</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.15</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>636</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Credit Assets</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>581,314</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.98</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>240</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S. Treasury Securities:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.10</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total U.S. Treasury Securities</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>273</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.10</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,498,849</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.13</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>122</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>
CY2019Q4	us-gaap	Assets Sold Under Agreements To Repurchase Repurchase Liability AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability	2445300000	USD
CY2019Q4	us-gaap	Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements	2763000000	USD
CY2019Q4	efc	Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements Unsettled PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreementsUnsettled	64700000	USD
CY2019Q4	efc	Repurchase Agreementsamountatriskthreshold RepurchaseAgreementsamountatriskthreshold	0.10
CY2019	efc	Ordinaryincome Ordinaryincome	0.850
CY2019	efc	Returnofcapital Returnofcapital	0.094
CY2019	efc	Capitalgain Capitalgain	0.056
CY2019	efc	Totalpercentageofdividendswithtaxcharacteristic Totalpercentageofdividendswithtaxcharacteristic	1.000
CY2019	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1600000	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	1100000	USD
CY2019	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	185000	USD
CY2019	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	293000	USD
CY2019	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	478000	USD
CY2019	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	1080000	USD
CY2019	us-gaap	Deferred Federal State And Local Tax Expense Benefit DeferredFederalStateAndLocalTaxExpenseBenefit	0	USD
CY2019	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	1080000	USD
CY2019	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1558000	USD
CY2019Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	3907000	USD
CY2019Q4	us-gaap	Deferred Tax Assets Investments DeferredTaxAssetsInvestments	669000	USD
CY2019Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	157000	USD
CY2019Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	4419000	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities Investments DeferredTaxLiabilitiesInvestments	5484000	USD
CY2019Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	5484000	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities DeferredTaxLiabilities	1065000	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.2100
CY2019	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.0045
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Minority Interest Income Expense EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense	-0.0128
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Tax Exempt Income EffectiveIncomeTaxRateReconciliationTaxExemptIncome	0.1776
CY2019	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.0241
CY2019	efc	Annual Base Management Fee Percentage AnnualBaseManagementFeePercentage	0.0150
CY2019	us-gaap	Management Fee Expense ManagementFeeExpense	8000000.0	USD
CY2019	efc	Management Fee Expense Gross ManagementFeeExpenseGross	10000000.0	USD
CY2019	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	2000000.0	USD
CY2019	efc	Incentive Fee Rate IncentiveFeeRate	0.25
CY2019Q4	efc	Incentive Fee Loss Carryforward IncentiveFeeLossCarryforward	0	USD
CY2019	efc	Incentive Fee Hurdle Rate Fixed IncentiveFeeHurdleRateFixed	0.09
CY2019	efc	Incentive Fee Hurdle Rate Floating IncentiveFeeHurdleRateFloating	0.03
CY2019	efc	Minimum Percentage Of Incentive Fee To Be Paid In Share MinimumPercentageOfIncentiveFeeToBePaidInShare	0.10
CY2019	us-gaap	Incentive Fee Expense IncentiveFeeExpense	100000	USD
CY2019	efc	Termination Fee Number Of Periods TerminationFeeNumberOfPeriods	2	period
CY2019	efc	Termination Fee Period TerminationFeePeriod	P12M
CY2019	efc	Termination Fee Number Of Periods TerminationFeeNumberOfPeriods	2	period
CY2019	efc	Termination Fee Period TerminationFeePeriod	P12M
CY2019	efc	Expense Reimbursement Period ExpenseReimbursementPeriod	P60D
CY2019	efc	Expense Reimbursement Manager ExpenseReimbursementManager	10900000	USD
CY2019	efc	Management Fee Expense Rebates ManagementFeeExpenseRebates	2000000.0	USD
CY2019	us-gaap	Related Party Transaction Purchases From Related Party RelatedPartyTransactionPurchasesFromRelatedParty	8800000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	500000	USD
CY2019Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	1832309	shares
CY2019Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000	shares
CY2019Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2019Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	4600000	shares
CY2019Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	4600000	shares
CY2019Q4	us-gaap	Preferred Stock Dividend Rate Percentage PreferredStockDividendRatePercentage	0.06750
CY2019Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2019Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	4600000	shares
CY2019Q4	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	111000000.0	USD
CY2019	us-gaap	Preferred Stock Dividend Rate Percentage PreferredStockDividendRatePercentage	0.06750
CY2019Q4	us-gaap	Preferred Stock Liquidation Preference PreferredStockLiquidationPreference	25.00
CY2019	efc	Preferred Stock Dividend Rate Variable Rate Spread PreferredStockDividendRateVariableRateSpread	0.05196
CY2019Q4	us-gaap	Preferred Stock Liquidation Preference PreferredStockLiquidationPreference	25.00
CY2019	us-gaap	Preferred Stock Amount Of Preferred Dividends In Arrears PreferredStockAmountOfPreferredDividendsInArrears	1500000	USD
CY2019Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2019Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2019Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	38647943	shares
CY2019Q3	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	3500000	shares
CY2019Q3	efc	Proceedsfromissuanceofsharesnet Proceedsfromissuanceofsharesnet	60700000	USD
CY2019Q3	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	525000	shares
CY2019Q3	efc	Proceedsfromissuanceofsharesnet Proceedsfromissuanceofsharesnet	9100000	USD
CY2019Q4	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	4200000	shares
CY2019Q4	efc	Proceedsfromissuanceofsharesnet Proceedsfromissuanceofsharesnet	75300000	USD
CY2019Q4	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	630000	shares
CY2019Q4	efc	Proceedsfromissuanceofsharesnet Proceedsfromissuanceofsharesnet	11200000	USD
CY2018Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	29796601	shares
CY2019	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	8855000	shares
CY2019	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	50825	shares
CY2019Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	38647943	shares
CY2019Q4	efc	Common Shares Issued And Outstanding Upon Conversion Of All Convertible Securities CommonSharesIssuedAndOutstandingUponConversionOfAllConvertibleSecurities	39371584	shares
CY2018Q2	us-gaap	Stock Repurchase Program Number Of Shares Authorized To Be Repurchased StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased	1550000	shares
CY2019	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	50825	shares
CY2019	efc	Stock Repurchases Average Price Per Share StockRepurchasesAveragePricePerShare	15.39
CY2019	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	800000	USD
	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	411915	shares
	efc	Stock Repurchases Average Price Per Share StockRepurchasesAveragePricePerShare	15.34
	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	6300000	USD
CY2019	us-gaap	Net Income Loss NetIncomeLoss	56467000	USD
CY2019	efc	Net Income Loss Attributableto Participating Noncontrolling Interest NetIncomeLossAttributabletoParticipatingNoncontrollingInterest	1305000	USD
CY2019	efc	Netincomelossattributabletoparentandparticipatingnoncontrollinginterest Netincomelossattributabletoparentandparticipatingnoncontrollinginterest	57772000	USD
CY2019	us-gaap	Dividends Dividends	59824000	USD
CY2019	us-gaap	Undistributed Earnings UndistributedEarnings	-2052000	USD
CY2019	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	32800224	shares
CY2019	us-gaap	Earnings Per Share Basic Distributed EarningsPerShareBasicDistributed	1.81
CY2019	us-gaap	Earnings Per Share Basic Undistributed EarningsPerShareBasicUndistributed	-0.05
CY2019	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.76
CY2019	us-gaap	Earnings Per Share Diluted Distributed EarningsPerShareDilutedDistributed	1.81
CY2019	us-gaap	Earnings Per Share Diluted Undistributed EarningsPerShareDilutedUndistributed	-0.05
CY2019	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.76
CY2019	efc	Net Income Loss Attributableto Non Participating Noncontrolling Interest NetIncomeLossAttributabletoNonParticipatingNoncontrollingInterest	3900000	USD
CY2019Q4	us-gaap	Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction	73639000	USD
CY2019Q4	us-gaap	Derivative Assets DerivativeAssets	16788000	USD
CY2019Q4	us-gaap	Derivative Liability Not Offset Policy Election Deduction DerivativeLiabilityNotOffsetPolicyElectionDeduction	12755000	USD
CY2019Q4	us-gaap	Derivative Collateral Obligation To Return Cash DerivativeCollateralObligationToReturnCash	807000	USD
CY2019Q4	us-gaap	Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	3226000	USD
CY2019Q4	us-gaap	Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement	73639000	USD
CY2019Q4	us-gaap	Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction	73639000	USD
CY2019Q4	us-gaap	Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash	0	USD
CY2019Q4	us-gaap	Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	0	USD
CY2019Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	27621000	USD
CY2019Q4	us-gaap	Derivative Asset Not Offset Policy Election Deduction DerivativeAssetNotOffsetPolicyElectionDeduction	12755000	USD
CY2019Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	12233000	USD
CY2019Q4	us-gaap	Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	2633000	USD
CY2019Q4	us-gaap	Securities Sold Under Agreements To Repurchase SecuritiesSoldUnderAgreementsToRepurchase	2445300000	USD
CY2019Q4	us-gaap	Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash	31005000	USD
CY2019Q4	us-gaap	Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	0	USD
CY2019Q4	us-gaap	Securities Sold Under Agreements To Repurchase Fair Value Of Collateral SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral	2800000000	USD
CY2019Q4	us-gaap	Guarantee Obligations Current Carrying Value GuaranteeObligationsCurrentCarryingValue	5200000	USD
CY2019Q1	us-gaap	Interest Income Operating InterestIncomeOperating	36016000	USD
CY2019Q2	us-gaap	Interest Income Operating InterestIncomeOperating	38547000	USD
CY2019Q3	us-gaap	Interest Income Operating InterestIncomeOperating	39985000	USD
CY2019Q4	us-gaap	Interest Income Operating InterestIncomeOperating	45353000	USD
CY2019Q1	us-gaap	Interest Expense InterestExpense	17618000	USD
CY2019Q2	us-gaap	Interest Expense InterestExpense	19702000	USD
CY2019Q3	us-gaap	Interest Expense InterestExpense	19954000	USD
CY2019Q4	us-gaap	Interest Expense InterestExpense	21205000	USD
CY2019Q1	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	18398000	USD
CY2019Q2	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	18845000	USD
CY2019Q3	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	20031000	USD
CY2019Q4	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	24148000	USD
CY2019Q1	efc	Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	-16950000	USD
CY2019Q2	efc	Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	-12327000	USD
CY2019Q3	efc	Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	-4827000	USD
CY2019Q4	efc	Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	-7266000	USD
CY2019Q1	efc	Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	20452000	USD
CY2019Q2	efc	Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	13300000	USD
CY2019Q3	efc	Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	7970000	USD
CY2019Q4	efc	Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet	6139000	USD
CY2019Q1	us-gaap	Noninterest Income Other Operating Income NoninterestIncomeOtherOperatingIncome	2002000	USD
CY2019Q2	us-gaap	Noninterest Income Other Operating Income NoninterestIncomeOtherOperatingIncome	1808000	USD
CY2019Q3	us-gaap	Noninterest Income Other Operating Income NoninterestIncomeOtherOperatingIncome	539000	USD
CY2019Q4	us-gaap	Noninterest Income Other Operating Income NoninterestIncomeOtherOperatingIncome	1001000	USD
CY2019Q1	us-gaap	Noninterest Income NoninterestIncome	5504000	USD
CY2019Q2	us-gaap	Noninterest Income NoninterestIncome	2781000	USD
CY2019Q3	us-gaap	Noninterest Income NoninterestIncome	3682000	USD
CY2019Q4	us-gaap	Noninterest Income NoninterestIncome	-126000	USD
CY2019Q1	us-gaap	Management Fee Expense ManagementFeeExpense	1722000	USD
CY2019Q2	us-gaap	Management Fee Expense ManagementFeeExpense	1661000	USD
CY2019Q3	us-gaap	Management Fee Expense ManagementFeeExpense	1942000	USD
CY2019Q4	us-gaap	Management Fee Expense ManagementFeeExpense	2663000	USD
CY2019Q1	us-gaap	Incentive Fee Expense IncentiveFeeExpense	0	USD
CY2019Q2	us-gaap	Incentive Fee Expense IncentiveFeeExpense	0	USD
CY2019Q3	us-gaap	Incentive Fee Expense IncentiveFeeExpense	0	USD
CY2019Q4	us-gaap	Incentive Fee Expense IncentiveFeeExpense	116000	USD
CY2019Q1	efc	Otherinvestmentrelatedexpenses Servicingexpense OtherinvestmentrelatedexpensesServicingexpense	2393000	USD
CY2019Q2	efc	Otherinvestmentrelatedexpenses Servicingexpense OtherinvestmentrelatedexpensesServicingexpense	2244000	USD
CY2019Q3	efc	Otherinvestmentrelatedexpenses Servicingexpense OtherinvestmentrelatedexpensesServicingexpense	1940000	USD
CY2019Q4	efc	Otherinvestmentrelatedexpenses Servicingexpense OtherinvestmentrelatedexpensesServicingexpense	2055000	USD
CY2019Q1	efc	Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	0	USD
CY2019Q2	efc	Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	1671000	USD
CY2019Q3	efc	Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	0	USD
CY2019Q4	efc	Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue	1865000	USD
CY2019Q1	efc	Otherinvestmentrelatedexpense Other OtherinvestmentrelatedexpenseOther	1083000	USD
CY2019Q2	efc	Otherinvestmentrelatedexpense Other OtherinvestmentrelatedexpenseOther	1238000	USD
CY2019Q3	efc	Otherinvestmentrelatedexpense Other OtherinvestmentrelatedexpenseOther	1347000	USD
CY2019Q4	efc	Otherinvestmentrelatedexpense Other OtherinvestmentrelatedexpenseOther	1941000	USD
CY2019Q1	us-gaap	Professional Fees ProfessionalFees	1956000	USD
CY2019Q2	us-gaap	Professional Fees ProfessionalFees	1178000	USD
CY2019Q3	us-gaap	Professional Fees ProfessionalFees	698000	USD
CY2019Q4	us-gaap	Professional Fees ProfessionalFees	1021000	USD
CY2019Q1	us-gaap	Salaries And Wages SalariesAndWages	1072000	USD
CY2019Q2	us-gaap	Salaries And Wages SalariesAndWages	903000	USD
CY2019Q3	us-gaap	Salaries And Wages SalariesAndWages	712000	USD
CY2019Q4	us-gaap	Salaries And Wages SalariesAndWages	962000	USD
CY2019Q1	us-gaap	Other Expenses OtherExpenses	985000	USD
CY2019Q2	us-gaap	Other Expenses OtherExpenses	1053000	USD
CY2019Q3	us-gaap	Other Expenses OtherExpenses	1156000	USD
CY2019Q4	us-gaap	Other Expenses OtherExpenses	1160000	USD
CY2019Q1	us-gaap	Operating Expenses OperatingExpenses	9211000	USD
CY2019Q2	us-gaap	Operating Expenses OperatingExpenses	9948000	USD
CY2019Q3	us-gaap	Operating Expenses OperatingExpenses	7795000	USD
CY2019Q4	us-gaap	Operating Expenses OperatingExpenses	11783000	USD
CY2019Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	14691000	USD
CY2019Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	11678000	USD
CY2019Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	15918000	USD
CY2019Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	12239000	USD
CY2019Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2019Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	376000	USD
CY2019Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	2000	USD
CY2019Q4	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1180000	USD
CY2019Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	1797000	USD
CY2019Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2354000	USD
CY2019Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2796000	USD
CY2019Q4	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	3262000	USD
CY2019Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	16488000	USD
CY2019Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	13656000	USD
CY2019Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	18712000	USD
CY2019Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	14321000	USD
CY2019Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1080000	USD
CY2019Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1012000	USD
CY2019Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1419000	USD
CY2019Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1733000	USD
CY2019Q1	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
CY2019Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
CY2019Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
CY2019Q4	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1466000	USD
CY2019Q1	us-gaap	Net Income Loss NetIncomeLoss	15408000	USD
CY2019Q2	us-gaap	Net Income Loss NetIncomeLoss	12644000	USD
CY2019Q3	us-gaap	Net Income Loss NetIncomeLoss	17293000	USD
CY2019Q4	us-gaap	Net Income Loss NetIncomeLoss	11122000	USD
CY2019Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.52
CY2019Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.43
CY2019Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.53
CY2019Q4	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.31
CY2018Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	44656000	USD
CY2018Q4	us-gaap	Restricted Cash RestrictedCash	425000	USD
CY2018Q4	us-gaap	Investment Owned At Fair Value InvestmentOwnedAtFairValue	2939311000	USD
CY2018Q4	us-gaap	Derivative Assets DerivativeAssets	20001000	USD
CY2018Q4	us-gaap	Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement	61274000	USD
CY2018Q4	efc	Total Investments And Financial Derivatives TotalInvestmentsAndFinancialDerivatives	3020586000	USD
CY2018Q4	us-gaap	Deposits Assets DepositsAssets	71794000	USD
CY2018Q4	us-gaap	Receivables From Brokers Dealers And Clearing Organizations ReceivablesFromBrokersDealersAndClearingOrganizations	780826000	USD
CY2018Q4	us-gaap	Interest Receivable InterestReceivable	37676000	USD
CY2018Q4	us-gaap	Other Assets OtherAssets	15536000	USD

CY2019

dei

Amendment Flag

AmendmentFlag

false

CY2019

dei

Current Fiscal Year End Date

CurrentFiscalYearEndDate

--12-31

CY2019

dei

Document Fiscal Period Focus

DocumentFiscalPeriodFocus

FY

CY2019

dei

Document Fiscal Year Focus

DocumentFiscalYearFocus

2019

CY2019

dei

Entity Central Index Key

EntityCentralIndexKey

0001411342

CY2018Q4

efc

Derivatives Cost

DerivativesCost

22526000

USD

CY2018Q4

efc

Derivatives Proceeds

DerivativesProceeds

19019000

USD

CY2019Q1

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

447000

USD

CY2019Q2

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

508000

USD

CY2019Q3

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

503000

USD

CY2019Q4

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

509000

USD

CY2018Q4

efc

Othersecuredfinancingatfairvalue Proceeds

OthersecuredfinancingatfairvalueProceeds

298706000

USD

CY2018Q4

efc

Othersecuredfinancingproceeds

114100000

USD

CY2018Q4

efc

Repurchase Agreements Cost

RepurchaseAgreementsCost

61274000

USD

CY2018

efc

Termination Fee Description

TerminationFeeDescription

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.

CY2019Q4

efc

Upfrontpointsonwrittencreditderivative

57.0

CY2018Q4

efc

Writtencreditderivativespreadthreshold

0.20000

CY2019Q4

efc

Writtencreditderivativespreadthreshold

0.20000

CY2018Q4

us-gaap

Common Stock Shares Authorized

CommonStockSharesAuthorized

100000000

shares

CY2018Q4

us-gaap

Common Stock Shares Issued

CommonStockSharesIssued

29796601

shares

CY2019Q4

us-gaap

Common Stock Shares Issued

CommonStockSharesIssued

38647943

shares

CY2019Q1

us-gaap

Dividend Payable Date To Be Paid Day Month And Year

DividendPayableDateToBePaidDayMonthAndYear

2019-03-15

CY2019Q1

us-gaap

Dividend Payable Date To Be Paid Day Month And Year

DividendPayableDateToBePaidDayMonthAndYear

2019-04-25

CY2019Q1

us-gaap

Dividends Payable Date Declared Day Month And Year

DividendsPayableDateDeclaredDayMonthAndYear

2019-02-14

CY2019Q1

us-gaap

Dividends Payable Date Declared Day Month And Year

DividendsPayableDateDeclaredDayMonthAndYear

2019-03-11

CY2019Q1

us-gaap

Dividends Payable Date Of Record Day Month And Year

DividendsPayableDateOfRecordDayMonthAndYear

2019-03-01

CY2019Q1

us-gaap

Dividends Payable Date Of Record Day Month And Year

DividendsPayableDateOfRecordDayMonthAndYear

2019-03-29

CY2018

us-gaap

Incentive Fee Description

IncentiveFeeDescription

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.

CY2018

us-gaap

Investment Company Contractual Fee Waived

InvestmentCompanyContractualFeeWaived

1380000

USD

CY2018Q4

us-gaap

Investment Owned At Cost

InvestmentOwnedAtCost

2970306000

USD

CY2018

us-gaap

Investment Sold Not Yet Purchased Sale Proceeds

InvestmentSoldNotYetPurchasedSaleProceeds

844604000

USD

CY2018

us-gaap

Management Fee Description

ManagementFeeDescription

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.

CY2019

us-gaap

Preferred Stock Dividend Rate Percentage

PreferredStockDividendRatePercentage

0.0675

CY2019Q4

us-gaap

Preferred Stock Liquidation Preference Value

PreferredStockLiquidationPreferenceValue

115000

USD

CY2019Q4

us-gaap

Preferred Stock Shares Issued

PreferredStockSharesIssued

4600000

shares

CY2019

dei

Document Type

DocumentType

10-K

CY2019

dei

Document Annual Report

DocumentAnnualReport

true

CY2019

dei

Document Period End Date

DocumentPeriodEndDate

2019-12-31

CY2019

dei

Document Transition Report

DocumentTransitionReport

false

CY2019

dei

Entity File Number

EntityFileNumber

001-34569

CY2019

dei

Entity Registrant Name

EntityRegistrantName

Ellington Financial Inc.

CY2019

dei

Entity Incorporation State Country Code

EntityIncorporationStateCountryCode

DE

CY2019

dei

Entity Tax Identification Number

EntityTaxIdentificationNumber

26-0489289

CY2019

dei

Entity Address Address Line1

EntityAddressAddressLine1

53 Forest Avenue

CY2019

dei

Entity Address City Or Town

EntityAddressCityOrTown

Old Greenwich

CY2019

dei

Entity Address State Or Province

EntityAddressStateOrProvince

CT

CY2019

dei

Entity Address Postal Zip Code

EntityAddressPostalZipCode

06870

CY2019

dei

City Area Code

CityAreaCode

203

CY2019

dei

Local Phone Number

LocalPhoneNumber

698-1200

CY2019

dei

Entity Well Known Seasoned Issuer

EntityWellKnownSeasonedIssuer

Yes

CY2019

dei

Entity Voluntary Filers

EntityVoluntaryFilers

No

CY2019

dei

Entity Current Reporting Status

EntityCurrentReportingStatus

Yes

CY2019

dei

Entity Interactive Data Current

EntityInteractiveDataCurrent

Yes

CY2019

dei

Entity Filer Category

EntityFilerCategory

Accelerated Filer

CY2019

dei

Entity Small Business

EntitySmallBusiness

true

CY2019

dei

Entity Emerging Growth Company

EntityEmergingGrowthCompany

false

CY2019

dei

Entity Shell Company

EntityShellCompany

false

CY2019Q2

dei

Entity Public Float

EntityPublicFloat

477738614

USD

CY2020Q1

dei

Entity Common Stock Shares Outstanding

EntityCommonStockSharesOutstanding

44068096

shares

CY2019Q4

us-gaap

Cash And Cash Equivalents At Carrying Value

CashAndCashEquivalentsAtCarryingValue

72302000

USD

CY2019Q4

us-gaap

Restricted Cash

RestrictedCash

175000

USD

CY2019Q4

us-gaap

Available For Sale Securities Debt Securities

AvailableForSaleSecuritiesDebtSecurities

2449941000

USD

CY2019Q4

efc

Investmentinloans

1412426000

USD

CY2019Q4

us-gaap

Equity Method Investments Fair Value Disclosure

EquityMethodInvestmentsFairValueDisclosure

71850000

USD

CY2019Q4

us-gaap

Real Estate Acquired Through Foreclosure

RealEstateAcquiredThroughForeclosure

30584000

USD

CY2019Q4

us-gaap

Derivative Assets

DerivativeAssets

16788000

USD

CY2019Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement

SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement

73639000

USD

CY2019Q4

us-gaap

Deposits Assets

DepositsAssets

79829000

USD

CY2019Q4

efc

Receivables From Securities Sold Financial Derivatives Interestand Principal

ReceivablesFromSecuritiesSoldFinancialDerivativesInterestandPrincipal

123120000

USD

CY2019Q4

us-gaap

Other Assets

OtherAssets

7563000

USD

CY2019Q4

us-gaap

Assets

4338217000

USD

CY2019Q4

us-gaap

Financial Instruments Sold Not Yet Purchased At Fair Value

FinancialInstrumentsSoldNotYetPurchasedAtFairValue

73409000

USD

CY2019Q4

us-gaap

Assets Sold Under Agreements To Repurchase Repurchase Liability

AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability

2445300000

USD

CY2019Q4

us-gaap

Derivative Liabilities

DerivativeLiabilities

27621000

USD

CY2019Q4

us-gaap

Other Payables To Broker Dealers And Clearing Organizations

OtherPayablesToBrokerDealersAndClearingOrganizations

2197000

USD

CY2019Q4

srt

Payables To Broker Dealers And Clearing Organizations

PayablesToBrokerDealersAndClearingOrganizations

66133000

USD

CY2019Q4

us-gaap

Other Secured Financings

OtherSecuredFinancings

150334000

USD

CY2019Q4

efc

Othersecuredborrowingsatfairvalue

594396000

USD

CY2019Q4

us-gaap

Long Term Debt

LongTermDebt

85298000

USD

CY2019Q4

us-gaap

Management Fee Payable

ManagementFeePayable

2663000

USD

CY2019Q4

efc

Accrued Incentive Fee

AccruedIncentiveFee

116000

USD

CY2019Q4

us-gaap

Dividends Payable Current And Noncurrent

DividendsPayableCurrentAndNoncurrent

6978000

USD

CY2019Q4

us-gaap

Interest Payable Current And Noncurrent

InterestPayableCurrentAndNoncurrent

7320000

USD

CY2019Q4

us-gaap

Accrued Liabilities And Other Liabilities

AccruedLiabilitiesAndOtherLiabilities

7753000

USD

CY2019Q4

us-gaap

Liabilities

3469518000

USD

CY2019Q4

us-gaap

Commitments And Contingencies

CommitmentsAndContingencies

USD

CY2019Q4

us-gaap

Preferred Stock Value Outstanding

PreferredStockValueOutstanding

111034000

USD

CY2019Q4

us-gaap

Common Stock Value

CommonStockValue

39000

USD

CY2019Q4

us-gaap

Other Additional Capital

OtherAdditionalCapital

821747000

USD

CY2019Q4

us-gaap

Retained Earnings Accumulated Deficit

RetainedEarningsAccumulatedDeficit

-103555000

USD

CY2019Q4

us-gaap

Stockholders Equity

StockholdersEquity

829265000

USD

CY2019Q4

us-gaap

Minority Interest

MinorityInterest

39434000

USD

CY2019Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

868699000

USD

CY2019Q4

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

4338217000

USD

CY2019

us-gaap

Interest Income Operating

InterestIncomeOperating

159901000

USD

CY2019

us-gaap

Interest Expense

InterestExpense

78479000

USD

CY2019

us-gaap

Interest Income Expense Net

InterestIncomeExpenseNet

81422000

USD

CY2019

efc

Securities And Loans Realized Gains Losses

SecuritiesAndLoansRealizedGainsLosses

-12785000

USD

CY2019

efc

Net Realized Gain Loss On Derivatives

NetRealizedGainLossOnDerivatives

-30912000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Realized Gains Losses On Disposal

RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal

2327000

USD

CY2019

efc

Securities And Loans Unrealized Gains Losses

SecuritiesAndLoansUnrealizedGainsLosses

54478000

USD

CY2019

us-gaap

Unrealized Gain Loss On Derivatives

UnrealizedGainLossOnDerivatives

-5338000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Unrealized Gains Losses

RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses

-1279000

USD

CY2019

us-gaap

Noninterest Income Other Operating Income

NoninterestIncomeOtherOperatingIncome

5350000

USD

CY2019

us-gaap

Noninterest Income

NoninterestIncome

11841000

USD

CY2019

us-gaap

Management Fee Expense

ManagementFeeExpense

7988000

USD

CY2019

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

116000

USD

CY2019

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

8632000

USD

CY2019

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

3536000

USD

CY2019

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

5609000

USD

CY2019

us-gaap

Professional Fees

ProfessionalFees

4853000

USD

CY2019

us-gaap

Salaries And Wages

SalariesAndWages

3649000

USD

CY2019

us-gaap

Other Expenses

OtherExpenses

4354000

USD

CY2019

us-gaap

Operating Expenses

OperatingExpenses

38737000

USD

CY2019

us-gaap

Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments

IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

54526000

USD

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

1558000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

10209000

USD

CY2019

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

63177000

USD

CY2019

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

5244000

USD

CY2019

us-gaap

Preferred Stock Dividends Income Statement Impact

PreferredStockDividendsIncomeStatementImpact

1466000

USD

CY2019

us-gaap

Net Income Loss

NetIncomeLoss

56467000

USD

CY2019

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

1.76

CY2018Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

595170000

USD

CY2019

us-gaap

Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest

IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest

63177000

USD

CY2019

us-gaap

Noncontrolling Interest Increase From Sale Of Parent Equity Interest

NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest

27650000

USD

CY2019

us-gaap

Dividends Common Stock Cash

DividendsCommonStockCash

59824000

USD

CY2019

us-gaap

Dividends Preferred Stock Cash

DividendsPreferredStockCash

1466000

USD

CY2019

us-gaap

Minority Interest Decrease From Distributions To Noncontrolling Interest Holders

MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders

23063000

USD

CY2019

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

782000

USD

CY2019

us-gaap

Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value

AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue

475000

USD

CY2019Q4

us-gaap

Preferred Stock Value Outstanding

PreferredStockValueOutstanding

111034000

USD

CY2019Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

868699000

USD

CY2019

us-gaap

Common Stock Dividends Per Share Declared

CommonStockDividendsPerShareDeclared

1.81

CY2019

us-gaap

Preferred Stock Dividends Per Share Declared

PreferredStockDividendsPerShareDeclared

0.45938

CY2019

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

63177000

USD

CY2019

us-gaap

Accretion Amortization Of Discounts And Premiums Investments

AccretionAmortizationOfDiscountsAndPremiumsInvestments

-48132000

USD

CY2019

efc

Securities And Loans Realized Gains Losses

SecuritiesAndLoansRealizedGainsLosses

-12785000

USD

CY2019

efc

Net Realized Gain Loss On Derivatives

NetRealizedGainLossOnDerivatives

-30912000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Realized Gains Losses On Disposal

RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal

2327000

USD

CY2019

efc

Securities And Loans Unrealized Gains Losses

SecuritiesAndLoansUnrealizedGainsLosses

54478000

USD

CY2019

us-gaap

Unrealized Gain Loss On Derivatives

UnrealizedGainLossOnDerivatives

-5338000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Unrealized Gains Losses

RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses

-1279000

USD

CY2019

efc

Unrealizedgainslossesothernet

-645000

USD

CY2019

us-gaap

Foreign Currency Transaction Gain Loss Realized

ForeignCurrencyTransactionGainLossRealized

-2392000

USD

CY2019

efc

Foreign Currency Translation Gain Loss Unrealized

ForeignCurrencyTranslationGainLossUnrealized

-3310000

USD

CY2019

us-gaap

Amortization Of Financing Costs

AmortizationOfFinancingCosts

263000

USD

CY2019

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

475000

USD

CY2019

efc

Interestincomerelatedtoconsolidatedsecuritizationtrust

-16034000

USD

CY2019

efc

Interestexpenserelatedtoconsolidatedsecuritizationtrust

15136000

USD

CY2019

efc

Cashoutflowfordebtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

CashoutflowfordebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

1381000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

10209000

USD

CY2019

efc

Increasedecreaseininterestandprincipalreceivable

15449000

USD

CY2019

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

3663000

USD

CY2019

efc

Increasedecreaseinaccruedmanagementfee

919000

USD

CY2019

efc

Increase Decreasein Accrued Incentive Fee

IncreaseDecreaseinAccruedIncentiveFee

116000

USD

CY2019

us-gaap

Increase Decrease In Interest Payable Net

IncreaseDecreaseInInterestPayableNet

161000

USD

CY2019

us-gaap

Increase Decrease In Other Accounts Payable And Accrued Liabilities

IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities

1607000

USD

CY2019

us-gaap

Net Cash Provided By Used In Operating Activities

NetCashProvidedByUsedInOperatingActivities

79248000

USD

CY2019

us-gaap

Payments To Acquire Available For Sale Securities Debt

PaymentsToAcquireAvailableForSaleSecuritiesDebt

3057372000

USD

CY2019

us-gaap

Payments To Acquire Loans Receivable

PaymentsToAcquireLoansReceivable

1040006000

USD

CY2019

us-gaap

Payments For Capital Improvements

PaymentsForCapitalImprovements

240000

USD

CY2019

us-gaap

Proceeds From Sale Of Available For Sale Securities Debt

ProceedsFromSaleOfAvailableForSaleSecuritiesDebt

1838182000

USD

CY2019

us-gaap

Proceeds From Sale Of Loans Receivable

ProceedsFromSaleOfLoansReceivable

28878000

USD

CY2019

us-gaap

Payments To Acquire Equity Method Investments

PaymentsToAcquireEquityMethodInvestments

42124000

USD

CY2019

us-gaap

Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital

ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital

49758000

USD

CY2019

efc

Proceeds From Dispositionof Real Estate Owned

ProceedsFromDispositionofRealEstateOwned

24059000

USD

CY2019

us-gaap

Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities

ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities

275221000

USD

CY2019

us-gaap

Proceeds From Collection Of Loans Receivable

ProceedsFromCollectionOfLoansReceivable

304953000

USD

CY2019

efc

Proceeds From Investments Sold Short

ProceedsFromInvestmentsSoldShort

645553000

USD

CY2019

efc

Repurchase Of Securities Sold Short Investing Activities

RepurchaseOfSecuritiesSoldShortInvestingActivities

650576000

USD

CY2019

us-gaap

Payments For Derivative Instrument Investing Activities

PaymentsForDerivativeInstrumentInvestingActivities

90057000

USD

CY2019

us-gaap

Proceeds From Derivative Instrument Investing Activities

ProceedsFromDerivativeInstrumentInvestingActivities

58578000

USD

CY2019

us-gaap

Payments For Securities Purchased Under Agreements To Resell

PaymentsForSecuritiesPurchasedUnderAgreementsToResell

7050581000

USD

CY2019

us-gaap

Proceeds From Securities Purchased Under Agreements To Resell

ProceedsFromSecuritiesPurchasedUnderAgreementsToResell

7038216000

USD

CY2019

efc

Proceeds From Brokers Investing Activities

ProceedsFromBrokersInvestingActivities

6483000

USD

CY2019

efc

Payments To Brokers Investing Activities

PaymentsToBrokersInvestingActivities

3458000

USD

CY2019

us-gaap

Net Cash Provided By Used In Investing Activities

NetCashProvidedByUsedInInvestingActivities

-1664533000

USD

CY2019

us-gaap

Proceeds From Issuance Of Common Stock

ProceedsFromIssuanceOfCommonStock

156742000

USD

CY2019

us-gaap

Proceeds From Issuance Of Preferred Stock And Preference Stock

ProceedsFromIssuanceOfPreferredStockAndPreferenceStock

111378000

USD

CY2019

us-gaap

Payments Of Stock Issuance Costs

PaymentsOfStockIssuanceCosts

712000

USD

CY2019

us-gaap

Payments For Repurchase Of Common Stock

PaymentsForRepurchaseOfCommonStock

782000

USD

CY2019

us-gaap

Payments Of Dividends

PaymentsOfDividends

54312000

USD

CY2019

us-gaap

Proceeds From Minority Shareholders

ProceedsFromMinorityShareholders

27650000

USD

CY2019

us-gaap

Payments To Minority Shareholders

PaymentsToMinorityShareholders

23063000

USD

CY2019

efc

Proceedsfromissuanceofsecuritizeddebt

97642000

USD

CY2019

efc

Principal Payment On Securitized Debt

PrincipalPaymentOnSecuritizedDebt

61408000

USD

CY2019

efc

Borrowingsunder Reverse Repurchase Agreements

BorrowingsunderReverseRepurchaseAgreements

9047746000

USD

CY2019

efc

Repaymentsof Reverse Repurchase Agreements

RepaymentsofReverseRepurchaseAgreements

7862227000

USD

CY2019

us-gaap

Proceeds From Issuance Of Secured Debt

ProceedsFromIssuanceOfSecuredDebt

250666000

USD

CY2019

us-gaap

Repayments Of Secured Debt

RepaymentsOfSecuredDebt

62608000

USD

CY2019

efc

Proceeds From Brokers Financing Activities

ProceedsFromBrokersFinancingActivities

-13676000

USD

CY2019

efc

Payments To Brokers Financing Activities

PaymentsToBrokersFinancingActivities

355000

USD

CY2019

us-gaap

Net Cash Provided By Used In Financing Activities

NetCashProvidedByUsedInFinancingActivities

1612681000

USD

CY2019

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect

27396000

USD

CY2018Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

45081000

USD

CY2019Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

72477000

USD

CY2019

us-gaap

Interest Paid Net

InterestPaidNet

78754000

USD

CY2019

us-gaap

Income Taxes Paid

IncomeTaxesPaid

189000

USD

CY2019Q4

us-gaap

Dividends Payable Current And Noncurrent

DividendsPayableCurrentAndNoncurrent

6978000

USD

CY2019

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

475000

USD

CY2019

efc

Purchaseof Investments Non Cash

PurchaseofInvestmentsNonCash

2975000

USD

CY2019

efc

Distributionsfrominvestmentsinunconsolidatedentities

2975000

USD

CY2019

us-gaap

Transfer To Other Real Estate

TransferToOtherRealEstate

22577000

USD

CY2019

efc

Proceedsfromprincipalpaymentsofinvestmentsnoncash

119683000

USD

CY2019

efc

Proceedsreceivedfrom Othersecuredborrowingsatfairvaluenoncash

ProceedsreceivedfromOthersecuredborrowingsatfairvaluenoncash

227428000

USD

CY2019

efc

Principalpaymentson Othersecuredborrowingsatfairvaluenoncash

PrincipalpaymentsonOthersecuredborrowingsatfairvaluenoncash

119683000

USD

CY2019

efc

Repaymentsofrepurchaseagreementnoncash

-226945000

USD

CY2019

us-gaap

Notes Reduction

NotesReduction

86000000

USD

CY2019

us-gaap

Notes Issued1

NotesIssued1

86000000

USD

CY2019Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.001

CY2019

us-gaap

Comparability Of Prior Year Financial Data

ComparabilityOfPriorYearFinancialData

<div style="line-height:174%;padding-top:6px;text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassification and Presentation</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investments in securities are now accounted for in accordance with ASC 320, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Investments—Debt and Equity Securities</span><span style="font-family:inherit;font-size:10pt;"> ("ASC 320");</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company elected not to designate its financial derivatives as hedging instruments in accordance with ASC 815, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging</span><span style="font-family:inherit;font-size:10pt;"> ("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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is required to account for certain of its equity investments under ASC 323-10, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Investments—Equity Method and Joint Ventures</span><span style="font-family:inherit;font-size:10pt;"> ("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.</span></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Statement of Assets, Liabilities, and Equity has been changed to a Consolidated Balance Sheet;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Condensed Schedule of Investments has been removed;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Consolidated Statement of Cash Flows has been changed, and now includes a section for investing activities;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain footnotes have been changed to reflect conformity with applicable U.S. GAAP for operating companies;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation </span><span style="font-family:inherit;font-size:10pt;">("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;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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";</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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</span></div></td></tr></table><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">•</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The financial highlights disclosures, which are not required under U.S. GAAP for operating companies, have been removed.</span></div>

CY2019

us-gaap

Revenue Recognition Interest

RevenueRecognitionInterest

Interest Income<span style="font-family:inherit;font-size:10pt;">: 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. </span><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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. </span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span><span style="font-family:inherit;font-size:10pt;"><span>90</span></span><span style="font-family:inherit;font-size:10pt;"> 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).</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div>

CY2019

efc

Numberofdaystodeterminenonperformanceofloan

P90D

CY2019Q4

us-gaap

Investment Owned Underlying Face Amount At Market Value

InvestmentOwnedUnderlyingFaceAmountAtMarketValue

2282149000

USD

CY2019Q4

us-gaap

Debt Instrument Unamortized Discount Premium Net

DebtInstrumentUnamortizedDiscountPremiumNet

-150821000

USD

CY2019Q4

us-gaap

Available For Sale Securities Amortized Cost

AvailableForSaleSecuritiesAmortizedCost

2342369000

USD

CY2019Q4

us-gaap

Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax

AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax

43801000

USD

CY2019Q4

us-gaap

Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax

AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax

9638000

USD

CY2019Q4

efc

Investment Owned At Fair Value Net

InvestmentOwnedAtFairValueNet

2376532000

USD

CY2019

efc

Catchup Premium Amortization Adjustment

CatchupPremiumAmortizationAdjustment

-4700000

USD

CY2019

us-gaap

Proceeds From Sale Of Available For Sale Securities

ProceedsFromSaleOfAvailableForSaleSecurities

1893925000

USD

CY2019

us-gaap

Available For Sale Securities Gross Realized Gains

AvailableForSaleSecuritiesGrossRealizedGains

23957000

USD

CY2019

us-gaap

Available For Sale Securities Gross Realized Losses

AvailableForSaleSecuritiesGrossRealizedLosses

36599000

USD

CY2019

us-gaap

Available For Sale Securities Gross Realized Gain Loss Net

AvailableForSaleSecuritiesGrossRealizedGainLossNet

-12642000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months

DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months

471379000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss

DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss

5146000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer

DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger

162938000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss

DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss

3861000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Unrealized Loss Position

DebtSecuritiesAvailableForSaleUnrealizedLossPosition

634317000

USD

CY2019Q4

us-gaap

Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss

DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss

9007000

USD

CY2019

us-gaap

Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities

OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities

28700000

USD

CY2019Q4

us-gaap

Investment Owned Balance Principal Amount

InvestmentOwnedBalancePrincipalAmount

1387733000

USD

CY2019Q4

efc

Investmentinloans

1412426000

USD

CY2019Q4

us-gaap

Equity Method Investments Fair Value Disclosure

EquityMethodInvestmentsFairValueDisclosure

71900000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

10200000

USD

CY2019Q4

efc

Equity Method Investments Summarized Financial Information Investments

EquityMethodInvestmentsSummarizedFinancialInformationInvestments

560949000

USD

CY2019Q4

efc

Equity Method Investments Summarized Financial Information Otherassets

EquityMethodInvestmentsSummarizedFinancialInformationOtherassets

65580000

USD

CY2019Q4

us-gaap

Equity Method Investment Summarized Financial Information Assets

EquityMethodInvestmentSummarizedFinancialInformationAssets

626529000

USD

CY2019Q4

efc

Equity Method Investment Summarized Financial Information Borrowings

EquityMethodInvestmentSummarizedFinancialInformationBorrowings

387910000

USD

CY2019Q4

efc

Equity Method Investment Summarized Financial Information Otherliabilities

EquityMethodInvestmentSummarizedFinancialInformationOtherliabilities

28134000

USD

CY2019Q4

us-gaap

Equity Method Investment Summarized Financial Information Liabilities

EquityMethodInvestmentSummarizedFinancialInformationLiabilities

416044000

USD

CY2019Q4

us-gaap

Equity Method Investment Summarized Financial Information Equity

EquityMethodInvestmentSummarizedFinancialInformationEquity

210485000

USD

CY2019Q4

us-gaap

Equity Method Investment Summarized Financial Information Liabilities And Equity

EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity

626529000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Interest Income

EquityMethodInvestmentSummarizedFinancialInformationInterestIncome

30587000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Interestexpense

EquityMethodInvestmentSummarizedFinancialInformationInterestexpense

-13316000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Netinterestincome

EquityMethodInvestmentSummarizedFinancialInformationNetinterestincome

17271000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Realizedandunrealizedgainlossoninvestments

EquityMethodInvestmentSummarizedFinancialInformationRealizedandunrealizedgainlossoninvestments

40901000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Othernet

EquityMethodInvestmentSummarizedFinancialInformationOthernet

31848000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Totalotherincomeloss

EquityMethodInvestmentSummarizedFinancialInformationTotalotherincomeloss

72749000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Expenses

EquityMethodInvestmentSummarizedFinancialInformationExpenses

58018000

USD

CY2019

efc

Net Realized Gains Losseson Periodic Settlementsof Interest Rate Swaps

NetRealizedGainsLossesonPeriodicSettlementsofInterestRateSwaps

1695000

USD

CY2018Q4

us-gaap

Number Of Real Estate Properties

NumberOfRealEstateProperties

20

property

CY2019

efc

Equity Method Investment Summarized Financial Information Netincomelossbeforeincometax

EquityMethodInvestmentSummarizedFinancialInformationNetincomelossbeforeincometax

32002000

USD

CY2019

efc

Equity Method Investment Summarized Financial Information Taxexpensebenefit

EquityMethodInvestmentSummarizedFinancialInformationTaxexpensebenefit

979000

USD

CY2019

us-gaap

Equity Method Investment Summarized Financial Information Net Income Loss

EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss

31023000

USD

CY2018Q4

us-gaap

Real Estate Heldforsale

RealEstateHeldforsale

30778000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Transfer From Mortgage Loans Number Of Properties

RealEstateAcquiredThroughForeclosureTransferFromMortgageLoansNumberOfProperties

8

property

CY2019

us-gaap

Transfer To Other Real Estate

TransferToOtherRealEstate

22577000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Capital Expenditures And Other Adjustments

RealEstateAcquiredThroughForeclosureCapitalExpendituresAndOtherAdjustments

240000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Adjustmenttorecordatlowerofcostorfairvalue

RealEstateAcquiredThroughForeclosureAdjustmenttorecordatlowerofcostorfairvalue

1002000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Disposals Number Of Properties

RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties

13

property

CY2019

efc

Real Estate Acquired Through Foreclosure Disposals

RealEstateAcquiredThroughForeclosureDisposals

22009000

USD

CY2019Q4

us-gaap

Number Of Real Estate Properties

NumberOfRealEstateProperties

15

property

CY2019Q4

us-gaap

Real Estate Heldforsale

RealEstateHeldforsale

30584000

USD

CY2019

efc

Real Estate Acquired Through Foreclosure Disposals Number Of Properties

RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties

13

property

CY2019

us-gaap

Gain Loss On Sale Of Properties

GainLossOnSaleOfProperties

2300000

USD

CY2019Q4

efc

Real Estate Owned Acquired Through Foreclosure Fair Value

RealEstateOwnedAcquiredThroughForeclosureFairValue

19400000

USD

CY2019Q4

us-gaap

Derivative Assets

DerivativeAssets

16788000

USD

CY2019Q4

us-gaap

Derivative Liabilities

DerivativeLiabilities

27621000

USD

CY2019Q4

us-gaap

Derivative Assets Liabilities At Fair Value Net

DerivativeAssetsLiabilitiesAtFairValueNet

-10833000

USD

CY2019

efc

Net Realized Gains Losseson Periodic Settlements

NetRealizedGainsLossesonPeriodicSettlements

-32562000

USD

CY2019

efc

Net Realized Gain Losson Derivativesincludinggainlossonforeigncurrencytransactions

NetRealizedGainLossonDerivativesincludinggainlossonforeigncurrencytransactions

-30867000

USD

CY2019

efc

Changein Net Unrealized Gains Losseson Accrued Periodic Settlementsof Interest Rate Swaps

ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlementsofInterestRateSwaps

-764000

USD

CY2019

efc

Changein Net Unrealized Gains Losseson Accrued Periodic Settlements

ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlements

-4573000

USD

CY2019

efc

Unrealized Gain Losson Derivatives Including Gain Lossfrom Foreign Currency Remeasurement

UnrealizedGainLossonDerivativesIncludingGainLossfromForeignCurrencyRemeasurement

-5337000

USD

CY2019Q4

efc

Totalsecuredborrowings

3200000000

USD

CY2019Q4

efc

Numberof Counterpartieswith Outstanding Reverse Repurchase Agreements

NumberofCounterpartieswithOutstandingReverseRepurchaseAgreements

28

counterparty

CY2019

us-gaap

Schedule Of Repurchase Agreements

ScheduleOfRepurchaseAgreements

<div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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 </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:62%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:9%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Maturity</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Outstanding</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrowings</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Days to Maturity</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Agency RMBS:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>511,996</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.08</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>744,387</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.93</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>594,738</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.96</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">91-120 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,270</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.24</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>93</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,082</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.67</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>171</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Agency RMBS</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,864,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1.98</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Credit:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,549</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.38</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>104,491</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.14</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>138,837</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.03</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>73</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121-150 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,460</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.89</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>123</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,498</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.87</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>173</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">181-360 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>186,661</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.80</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>250</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">> 360 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>95,331</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.52</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>678</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Credit Assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>580,827</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.61</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,445,300</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.37</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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:</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:62%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:9%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2018</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Maturity</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Outstanding</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrowings</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Days to Maturity</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Agency RMBS:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245,956</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.46</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>415,379</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.58</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>255,421</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.74</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">91-120 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>506</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.31</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Agency RMBS</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>917,262</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.59</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Credit:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,426</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.55</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31-60 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,937</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.32</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61-90 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>93,202</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.21</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>74</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121-150 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26,222</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.60</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>123</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">151-180 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,491</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.64</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>166</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">181-360 Days</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91,730</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.54</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>316</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">> 360 Days</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>140,306</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.15</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>636</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Credit Assets</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>581,314</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.98</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>240</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S. Treasury Securities:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30 Days or Less</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.10</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total U.S. Treasury Securities</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>273</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.10</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,498,849</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.13</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>122</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>

CY2019Q4

us-gaap

Assets Sold Under Agreements To Repurchase Repurchase Liability

AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability

2445300000

USD

CY2019Q4

us-gaap

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements

2763000000

USD

CY2019Q4

efc

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements Unsettled

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreementsUnsettled

64700000

USD

CY2019Q4

efc

Repurchase Agreementsamountatriskthreshold

RepurchaseAgreementsamountatriskthreshold

0.10

CY2019

efc

Ordinaryincome

0.850

CY2019

efc

Returnofcapital

0.094

CY2019

efc

Capitalgain

0.056

CY2019

efc

Totalpercentageofdividendswithtaxcharacteristic

1.000

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

1600000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities

DeferredTaxLiabilities

1100000

USD

CY2019

us-gaap

Current Federal Tax Expense Benefit

CurrentFederalTaxExpenseBenefit

185000

USD

CY2019

us-gaap

Current State And Local Tax Expense Benefit

CurrentStateAndLocalTaxExpenseBenefit

293000

USD

CY2019

us-gaap

Current Income Tax Expense Benefit

CurrentIncomeTaxExpenseBenefit

478000

USD

CY2019

us-gaap

Deferred Federal Income Tax Expense Benefit

DeferredFederalIncomeTaxExpenseBenefit

1080000

USD

CY2019

us-gaap

Deferred Federal State And Local Tax Expense Benefit

DeferredFederalStateAndLocalTaxExpenseBenefit

0

USD

CY2019

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

1080000

USD

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

1558000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Operating Loss Carryforwards

DeferredTaxAssetsOperatingLossCarryforwards

3907000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Investments

DeferredTaxAssetsInvestments

669000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Valuation Allowance

DeferredTaxAssetsValuationAllowance

157000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Gross

DeferredTaxAssetsGross

4419000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities Investments

DeferredTaxLiabilitiesInvestments

5484000

USD

CY2019Q4

us-gaap

Deferred Income Tax Liabilities

DeferredIncomeTaxLiabilities

5484000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities

DeferredTaxLiabilities

1065000

USD

CY2019

us-gaap

Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate

EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate

0.2100

CY2019

us-gaap

Effective Income Tax Rate Reconciliation State And Local Income Taxes

EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes

0.0045

CY2019

us-gaap

Effective Income Tax Rate Reconciliation Minority Interest Income Expense

EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense

-0.0128

CY2019

us-gaap

Effective Income Tax Rate Reconciliation Tax Exempt Income

EffectiveIncomeTaxRateReconciliationTaxExemptIncome

0.1776

CY2019

us-gaap

Effective Income Tax Rate Continuing Operations

EffectiveIncomeTaxRateContinuingOperations

0.0241

CY2019

efc

Annual Base Management Fee Percentage

AnnualBaseManagementFeePercentage

0.0150

CY2019

us-gaap

Management Fee Expense

ManagementFeeExpense

8000000.0

USD

CY2019

efc

Management Fee Expense Gross

ManagementFeeExpenseGross

10000000.0

USD

CY2019

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

2000000.0

USD

CY2019

efc

Incentive Fee Rate

IncentiveFeeRate

0.25

CY2019Q4

efc

Incentive Fee Loss Carryforward

IncentiveFeeLossCarryforward

0

USD

CY2019

efc

Incentive Fee Hurdle Rate Fixed

IncentiveFeeHurdleRateFixed

0.09

CY2019

efc

Incentive Fee Hurdle Rate Floating

IncentiveFeeHurdleRateFloating

0.03

CY2019

efc

Minimum Percentage Of Incentive Fee To Be Paid In Share

MinimumPercentageOfIncentiveFeeToBePaidInShare

0.10

CY2019

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

100000

USD

CY2019

efc

Termination Fee Number Of Periods

TerminationFeeNumberOfPeriods

2

period

CY2019

efc

Termination Fee Period

TerminationFeePeriod

P12M

CY2019

efc

Termination Fee Number Of Periods

TerminationFeeNumberOfPeriods

2

period

CY2019

efc

Termination Fee Period

TerminationFeePeriod

P12M

CY2019

efc

Expense Reimbursement Period

ExpenseReimbursementPeriod

P60D

CY2019

efc

Expense Reimbursement Manager

ExpenseReimbursementManager

10900000

USD

CY2019

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

2000000.0

USD

CY2019

us-gaap

Related Party Transaction Purchases From Related Party

RelatedPartyTransactionPurchasesFromRelatedParty

8800000

USD

CY2019

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

500000

USD

CY2019Q4

us-gaap

Common Stock Capital Shares Reserved For Future Issuance

CommonStockCapitalSharesReservedForFutureIssuance

1832309

shares

CY2019Q4

us-gaap

Preferred Stock Shares Authorized

PreferredStockSharesAuthorized

100000000

shares

CY2019Q4

us-gaap

Preferred Stock Par Or Stated Value Per Share

PreferredStockParOrStatedValuePerShare

0.001

CY2019Q4

us-gaap

Preferred Stock Shares Outstanding

PreferredStockSharesOutstanding

4600000

shares

CY2019Q4

us-gaap

Preferred Stock Shares Issued

PreferredStockSharesIssued

4600000

shares

CY2019Q4

us-gaap

Preferred Stock Dividend Rate Percentage

PreferredStockDividendRatePercentage

0.06750

CY2019Q4

us-gaap

Preferred Stock Par Or Stated Value Per Share

PreferredStockParOrStatedValuePerShare

0.001

CY2019Q4

us-gaap

Preferred Stock Shares Issued

PreferredStockSharesIssued

4600000

shares

CY2019Q4

us-gaap

Proceeds From Issuance Of Preferred Stock And Preference Stock

ProceedsFromIssuanceOfPreferredStockAndPreferenceStock

111000000.0

USD

CY2019

us-gaap

Preferred Stock Dividend Rate Percentage

PreferredStockDividendRatePercentage

0.06750

CY2019Q4

us-gaap

Preferred Stock Liquidation Preference

PreferredStockLiquidationPreference

25.00

CY2019

efc

Preferred Stock Dividend Rate Variable Rate Spread

PreferredStockDividendRateVariableRateSpread

0.05196

CY2019Q4

us-gaap

Preferred Stock Liquidation Preference

PreferredStockLiquidationPreference

25.00

CY2019

us-gaap

Preferred Stock Amount Of Preferred Dividends In Arrears

PreferredStockAmountOfPreferredDividendsInArrears

1500000

USD

CY2019Q4

us-gaap

Common Stock Shares Authorized

CommonStockSharesAuthorized

100000000

shares

CY2019Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.001

CY2019Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

38647943

shares

CY2019Q3

us-gaap

Stock Issued During Period Shares New Issues

StockIssuedDuringPeriodSharesNewIssues

3500000

shares

CY2019Q3

efc

Proceedsfromissuanceofsharesnet

60700000

USD

CY2019Q3

us-gaap

Stock Issued During Period Shares New Issues

StockIssuedDuringPeriodSharesNewIssues

525000

shares

CY2019Q3

efc

Proceedsfromissuanceofsharesnet

9100000

USD

CY2019Q4

us-gaap

Stock Issued During Period Shares New Issues

StockIssuedDuringPeriodSharesNewIssues

4200000

shares

CY2019Q4

efc

Proceedsfromissuanceofsharesnet

75300000

USD

CY2019Q4

us-gaap

Stock Issued During Period Shares New Issues

StockIssuedDuringPeriodSharesNewIssues

630000

shares

CY2019Q4

efc

Proceedsfromissuanceofsharesnet

11200000

USD

CY2018Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

29796601

shares

CY2019

us-gaap

Stock Issued During Period Shares New Issues

StockIssuedDuringPeriodSharesNewIssues

8855000

shares

CY2019

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

50825

shares

CY2019Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

38647943

shares

CY2019Q4

efc

Common Shares Issued And Outstanding Upon Conversion Of All Convertible Securities

CommonSharesIssuedAndOutstandingUponConversionOfAllConvertibleSecurities

39371584

shares

CY2018Q2

us-gaap

Stock Repurchase Program Number Of Shares Authorized To Be Repurchased

StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased

1550000

shares

CY2019

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

50825

shares

CY2019

efc

Stock Repurchases Average Price Per Share

StockRepurchasesAveragePricePerShare

15.39

CY2019

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

800000

USD

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

411915

shares

efc

Stock Repurchases Average Price Per Share

StockRepurchasesAveragePricePerShare

15.34

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

6300000

USD

CY2019

us-gaap

Net Income Loss

NetIncomeLoss

56467000

USD

CY2019

efc

Net Income Loss Attributableto Participating Noncontrolling Interest

NetIncomeLossAttributabletoParticipatingNoncontrollingInterest

1305000

USD

CY2019

efc

Netincomelossattributabletoparentandparticipatingnoncontrollinginterest

57772000

USD

CY2019

us-gaap

Dividends

59824000

USD

CY2019

us-gaap

Undistributed Earnings

UndistributedEarnings

-2052000

USD

CY2019

us-gaap

Weighted Average Number Of Share Outstanding Basic And Diluted

WeightedAverageNumberOfShareOutstandingBasicAndDiluted

32800224

shares

CY2019

us-gaap

Earnings Per Share Basic Distributed

EarningsPerShareBasicDistributed

1.81

CY2019

us-gaap

Earnings Per Share Basic Undistributed

EarningsPerShareBasicUndistributed

-0.05

CY2019

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

1.76

CY2019

us-gaap

Earnings Per Share Diluted Distributed

EarningsPerShareDilutedDistributed

1.81

CY2019

us-gaap

Earnings Per Share Diluted Undistributed

EarningsPerShareDilutedUndistributed

-0.05

CY2019

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

1.76

CY2019

efc

Net Income Loss Attributableto Non Participating Noncontrolling Interest

NetIncomeLossAttributabletoNonParticipatingNoncontrollingInterest

3900000

USD

CY2019Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction

SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction

73639000

USD

CY2019Q4

us-gaap

Derivative Assets

DerivativeAssets

16788000

USD

CY2019Q4

us-gaap

Derivative Liability Not Offset Policy Election Deduction

DerivativeLiabilityNotOffsetPolicyElectionDeduction

12755000

USD

CY2019Q4

us-gaap

Derivative Collateral Obligation To Return Cash

DerivativeCollateralObligationToReturnCash

807000

USD

CY2019Q4

us-gaap

Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

3226000

USD

CY2019Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement

SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement

73639000

USD

CY2019Q4

us-gaap

Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction

SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction

73639000

USD

CY2019Q4

us-gaap

Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash

SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash

0

USD

CY2019Q4

us-gaap

Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

0

USD

CY2019Q4

us-gaap

Derivative Liabilities

DerivativeLiabilities

27621000

USD

CY2019Q4

us-gaap

Derivative Asset Not Offset Policy Election Deduction

DerivativeAssetNotOffsetPolicyElectionDeduction

12755000

USD

CY2019Q4

us-gaap

Derivative Collateral Right To Reclaim Cash

DerivativeCollateralRightToReclaimCash

12233000

USD

CY2019Q4

us-gaap

Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

2633000

USD

CY2019Q4

us-gaap

Securities Sold Under Agreements To Repurchase

SecuritiesSoldUnderAgreementsToRepurchase

2445300000

USD

CY2019Q4

us-gaap

Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash

SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash

31005000

USD

CY2019Q4

us-gaap

Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

0

USD

CY2019Q4

us-gaap

Securities Sold Under Agreements To Repurchase Fair Value Of Collateral

SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral

2800000000

USD

CY2019Q4

us-gaap

Guarantee Obligations Current Carrying Value

GuaranteeObligationsCurrentCarryingValue

5200000

USD

CY2019Q1

us-gaap

Interest Income Operating

InterestIncomeOperating

36016000

USD

CY2019Q2

us-gaap

Interest Income Operating

InterestIncomeOperating

38547000

USD

CY2019Q3

us-gaap

Interest Income Operating

InterestIncomeOperating

39985000

USD

CY2019Q4

us-gaap

Interest Income Operating

InterestIncomeOperating

45353000

USD

CY2019Q1

us-gaap

Interest Expense

InterestExpense

17618000

USD

CY2019Q2

us-gaap

Interest Expense

InterestExpense

19702000

USD

CY2019Q3

us-gaap

Interest Expense

InterestExpense

19954000

USD

CY2019Q4

us-gaap

Interest Expense

InterestExpense

21205000

USD

CY2019Q1

us-gaap

Interest Income Expense Net

InterestIncomeExpenseNet

18398000

USD

CY2019Q2

us-gaap

Interest Income Expense Net

InterestIncomeExpenseNet

18845000

USD

CY2019Q3

us-gaap

Interest Income Expense Net

InterestIncomeExpenseNet

20031000

USD

CY2019Q4

us-gaap

Interest Income Expense Net

InterestIncomeExpenseNet

24148000

USD

CY2019Q1

efc

Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

-16950000

USD

CY2019Q2

efc

Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

-12327000

USD

CY2019Q3

efc

Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

-4827000

USD

CY2019Q4

efc

Realizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

-7266000

USD

CY2019Q1

efc

Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

20452000

USD

CY2019Q2

efc

Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

13300000

USD

CY2019Q3

efc

Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

7970000

USD

CY2019Q4

efc

Unrealizedgainslossesonsecuritiesandloansfinancialderivativesandrealestateownednet

6139000

USD

CY2019Q1

us-gaap

Noninterest Income Other Operating Income

NoninterestIncomeOtherOperatingIncome

2002000

USD

CY2019Q2

us-gaap

Noninterest Income Other Operating Income

NoninterestIncomeOtherOperatingIncome

1808000

USD

CY2019Q3

us-gaap

Noninterest Income Other Operating Income

NoninterestIncomeOtherOperatingIncome

539000

USD

CY2019Q4

us-gaap

Noninterest Income Other Operating Income

NoninterestIncomeOtherOperatingIncome

1001000

USD

CY2019Q1

us-gaap

Noninterest Income

NoninterestIncome

5504000

USD

CY2019Q2

us-gaap

Noninterest Income

NoninterestIncome

2781000

USD

CY2019Q3

us-gaap

Noninterest Income

NoninterestIncome

3682000

USD

CY2019Q4

us-gaap

Noninterest Income

NoninterestIncome

-126000

USD

CY2019Q1

us-gaap

Management Fee Expense

ManagementFeeExpense

1722000

USD

CY2019Q2

us-gaap

Management Fee Expense

ManagementFeeExpense

1661000

USD

CY2019Q3

us-gaap

Management Fee Expense

ManagementFeeExpense

1942000

USD

CY2019Q4

us-gaap

Management Fee Expense

ManagementFeeExpense

2663000

USD

CY2019Q1

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

0

USD

CY2019Q2

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

0

USD

CY2019Q3

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

0

USD

CY2019Q4

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

116000

USD

CY2019Q1

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

2393000

USD

CY2019Q2

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

2244000

USD

CY2019Q3

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

1940000

USD

CY2019Q4

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

2055000

USD

CY2019Q1

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

0

USD

CY2019Q2

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

1671000

USD

CY2019Q3

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

0

USD

CY2019Q4

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

1865000

USD

CY2019Q1

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

1083000

USD

CY2019Q2

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

1238000

USD

CY2019Q3

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

1347000

USD

CY2019Q4

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

1941000

USD

CY2019Q1

us-gaap

Professional Fees

ProfessionalFees

1956000

USD

CY2019Q2

us-gaap

Professional Fees

ProfessionalFees

1178000

USD

CY2019Q3

us-gaap

Professional Fees

ProfessionalFees

698000

USD

CY2019Q4

us-gaap

Professional Fees

ProfessionalFees

1021000

USD

CY2019Q1

us-gaap

Salaries And Wages

SalariesAndWages

1072000

USD

CY2019Q2

us-gaap

Salaries And Wages

SalariesAndWages

903000

USD

CY2019Q3

us-gaap

Salaries And Wages

SalariesAndWages

712000

USD

CY2019Q4

us-gaap

Salaries And Wages

SalariesAndWages

962000

USD

CY2019Q1

us-gaap

Other Expenses

OtherExpenses

985000

USD

CY2019Q2

us-gaap

Other Expenses

OtherExpenses

1053000

USD

CY2019Q3

us-gaap

Other Expenses

OtherExpenses

1156000

USD

CY2019Q4

us-gaap

Other Expenses

OtherExpenses

1160000

USD

CY2019Q1

us-gaap

Operating Expenses

OperatingExpenses

9211000

USD

CY2019Q2

us-gaap

Operating Expenses

OperatingExpenses

9948000

USD

CY2019Q3

us-gaap

Operating Expenses

OperatingExpenses

7795000

USD

CY2019Q4

us-gaap

Operating Expenses

OperatingExpenses

11783000

USD

CY2019Q1

us-gaap

Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments

IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

14691000

USD

CY2019Q2

us-gaap

Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments

IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

11678000

USD

CY2019Q3

us-gaap

Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments

IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

15918000

USD

CY2019Q4

us-gaap

Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments

IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

12239000

USD

CY2019Q1

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

0

USD

CY2019Q2

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

376000

USD

CY2019Q3

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

2000

USD

CY2019Q4

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

1180000

USD

CY2019Q1

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

1797000

USD

CY2019Q2

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

2354000

USD

CY2019Q3

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

2796000

USD

CY2019Q4

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

3262000

USD

CY2019Q1

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

16488000

USD

CY2019Q2

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

13656000

USD

CY2019Q3

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

18712000

USD

CY2019Q4

us-gaap

Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest

IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

14321000

USD

CY2019Q1

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

1080000

USD

CY2019Q2

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

1012000

USD

CY2019Q3

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

1419000

USD

CY2019Q4

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

1733000

USD

CY2019Q1

us-gaap

Preferred Stock Dividends Income Statement Impact

PreferredStockDividendsIncomeStatementImpact

0

USD

CY2019Q2

us-gaap

Preferred Stock Dividends Income Statement Impact

PreferredStockDividendsIncomeStatementImpact

0

USD

CY2019Q3

us-gaap

Preferred Stock Dividends Income Statement Impact

PreferredStockDividendsIncomeStatementImpact

0

USD

CY2019Q4

us-gaap

Preferred Stock Dividends Income Statement Impact

PreferredStockDividendsIncomeStatementImpact

1466000

USD

CY2019Q1

us-gaap

Net Income Loss

NetIncomeLoss

15408000

USD

CY2019Q2

us-gaap

Net Income Loss

NetIncomeLoss

12644000

USD

CY2019Q3

us-gaap

Net Income Loss

NetIncomeLoss

17293000

USD

CY2019Q4

us-gaap

Net Income Loss

NetIncomeLoss

11122000

USD

CY2019Q1

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.52

CY2019Q2

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.43

CY2019Q3

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.53

CY2019Q4

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.31

CY2018Q4

us-gaap

Cash And Cash Equivalents At Carrying Value

CashAndCashEquivalentsAtCarryingValue

44656000

USD

CY2018Q4

us-gaap

Restricted Cash

RestrictedCash

425000

USD

CY2018Q4

us-gaap

Investment Owned At Fair Value

InvestmentOwnedAtFairValue

2939311000

USD

CY2018Q4

us-gaap

Derivative Assets

DerivativeAssets

20001000

USD

CY2018Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement

SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement

61274000

USD

CY2018Q4

efc

Total Investments And Financial Derivatives

TotalInvestmentsAndFinancialDerivatives

3020586000

USD

CY2018Q4

us-gaap

Deposits Assets

DepositsAssets

71794000

USD

CY2018Q4

us-gaap

Receivables From Brokers Dealers And Clearing Organizations

ReceivablesFromBrokersDealersAndClearingOrganizations

780826000

USD

CY2018Q4

us-gaap

Interest Receivable

InterestReceivable

37676000

USD

CY2018Q4

us-gaap

Other Assets

OtherAssets

15536000

USD

CY2018Q4

us-gaap

Assets

3971499000

USD

CY2018Q4

us-gaap

Financial Instruments Sold Not Yet Purchased At Fair Value

FinancialInstrumentsSoldNotYetPurchasedAtFairValue

850577000

USD

CY2018Q4

us-gaap

Derivative Liabilities

DerivativeLiabilities

20806000

USD

CY2018Q4

us-gaap

Investment Related Liabilities

InvestmentRelatedLiabilities

871383000

USD

CY2018Q4

us-gaap

Assets Sold Under Agreements To Repurchase Repurchase Liability

AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability

1498849000

USD

CY2018Q4

us-gaap

Other Payables To Broker Dealers And Clearing Organizations

OtherPayablesToBrokerDealersAndClearingOrganizations

5553000

USD

CY2018Q4

srt

Payables To Broker Dealers And Clearing Organizations

PayablesToBrokerDealersAndClearingOrganizations

488411000

USD

CY2018Q4

us-gaap

Other Secured Financings

OtherSecuredFinancings

114100000

USD

CY2018Q4

efc

Othersecuredborrowingsatfairvalue

297948000

USD

CY2018Q4

us-gaap

Long Term Debt

LongTermDebt

85035000

USD

CY2018Q4

us-gaap

Accounts Payable And Accrued Liabilities Current And Noncurrent

AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent

5723000

USD

CY2018Q4

us-gaap

Management Fee Payable

ManagementFeePayable

1744000

USD

CY2018Q4

us-gaap

Interest And Dividends Payable Current And Noncurrent

InterestAndDividendsPayableCurrentAndNoncurrent

7159000

USD

CY2018Q4

us-gaap

Other Liabilities

OtherLiabilities

424000

USD

CY2018Q4

us-gaap

Liabilities

3376329000

USD

CY2018Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

595170000

USD

CY2018Q4

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

3971499000

USD

CY2018Q4

us-gaap

Common Stock Value

CommonStockValue

563833000

USD

CY2018Q4

us-gaap

Other Additional Capital

OtherAdditionalCapital

0

USD

CY2018Q4

us-gaap

Stockholders Equity

StockholdersEquity

563833000

USD

CY2018Q4

us-gaap

Minority Interest

MinorityInterest

31337000

USD

CY2018Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

595170000

USD

CY2018Q4

us-gaap

Net Asset Value Per Share

NetAssetValuePerShare

18.92

CY2018Q4

efc

Percentagecollaterallizedbygnrcmocertificates

1

CY2018Q4

efc

Nonperformingloansmaturitydatenotapplicable

47300000

USD

CY2018Q4

us-gaap

Mortgage Loans In Process Of Foreclosure Amount

MortgageLoansInProcessOfForeclosureAmount

9100000

USD

CY2018

us-gaap

Interest Income Operating

InterestIncomeOperating

131027000

USD

CY2018

us-gaap

Other Operating Income

OtherOperatingIncome

4014000

USD

CY2018

us-gaap

Interest And Other Income

InterestAndOtherIncome

135041000

USD

CY2018

us-gaap

Management Fee Expense

ManagementFeeExpense

7573000

USD

CY2018

efc

Otherinvestmentrelatedexpenses Servicingexpense

OtherinvestmentrelatedexpensesServicingexpense

7715000

USD

CY2018

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

715000

USD

CY2018

us-gaap

Interest Expense

InterestExpense

56707000

USD

CY2018

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

1647000

USD

CY2018

efc

Otherinvestmentrelatedexpense Other

OtherinvestmentrelatedexpenseOther

7592000

USD

CY2018

us-gaap

Professional Fees

ProfessionalFees

3902000

USD

CY2018

efc

Administrationfeeexpense

734000

USD

CY2018

us-gaap

Salaries And Wages

SalariesAndWages

2233000

USD

CY2018

us-gaap

General Insurance Expense

GeneralInsuranceExpense

487000

USD

CY2018

us-gaap

Noninterest Expense Directors Fees

NoninterestExpenseDirectorsFees

298000

USD

CY2018

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

415000

USD

CY2018

us-gaap

Other Expenses

OtherExpenses

1898000

USD

CY2018

us-gaap

Operating Expenses

OperatingExpenses

91916000

USD

CY2018

us-gaap

Operating Income Loss

OperatingIncomeLoss

43125000

USD

CY2018

us-gaap

Realized Investment Gains Losses

RealizedInvestmentGainsLosses

25421000

USD

CY2018

efc

Net Realized Gain Losson Financial Derivativesexcludingcurrencyhedges

NetRealizedGainLossonFinancialDerivativesexcludingcurrencyhedges

-2639000

USD

CY2018

efc

Netrealizedgainlossoncurrencyhedges

4475000

USD

CY2018

us-gaap

Foreign Currency Transaction Gain Loss Realized

ForeignCurrencyTransactionGainLossRealized

4131000

USD

CY2018

efc

Totalnetrealizedgainloss

31388000

USD

CY2018

us-gaap

Unrealized Gain Loss On Investments

UnrealizedGainLossOnInvestments

-25947000

USD

CY2018

efc

Unrealized Gain Losson Other Secured Borrowings

UnrealizedGainLossonOtherSecuredBorrowings

758000

USD

CY2018

efc

Unrealized Gain Losson Financial Derivativesexcludingcurrencyhedges

UnrealizedGainLossonFinancialDerivativesexcludingcurrencyhedges

7093000

USD

CY2018

efc

Unrealized Gain Losson Financial Derivativescurrencyhedges

UnrealizedGainLossonFinancialDerivativescurrencyhedges

565000

USD

CY2018

us-gaap

Foreign Currency Transaction Gain Loss Unrealized

ForeignCurrencyTransactionGainLossUnrealized

-7071000

USD

CY2018

efc

Total Unrealized Gain Loss

TotalUnrealizedGainLoss

-24602000

USD

CY2018

us-gaap

Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency

InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency

6786000

USD

CY2018

us-gaap

Profit Loss

ProfitLoss

49911000

USD

CY2018

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

3235000

USD

CY2018

us-gaap

Net Income Loss

NetIncomeLoss

46676000

USD

CY2018

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

1.52

CY2017Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

620961000

USD

CY2018

us-gaap

Operating Income Loss

OperatingIncomeLoss

43125000

USD

CY2018

efc

Totalnetrealizedgainloss

31388000

USD

CY2018

efc

Total Unrealized Gain Loss

TotalUnrealizedGainLoss

-24602000

USD

CY2018

us-gaap

Profit Loss

ProfitLoss

49911000

USD

CY2018

efc

Shares Issued As Paymentof Incentive Fee

SharesIssuedAsPaymentofIncentiveFee

71000

USD

CY2018

us-gaap

Noncontrolling Interest Increase From Sale Of Parent Equity Interest

NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest

21532000

USD

CY2018

us-gaap

Dividends

50736000

USD

CY2018

us-gaap

Minority Interest Decrease From Distributions To Noncontrolling Interest Holders

MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders

23853000

USD

CY2018

efc

Adjustmentstononcontrollinginterests

0

USD

CY2018

efc

Sharebasedlongtermincentiveplanunitredemptionanddistribution

0

USD

CY2018

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

23131000

USD

CY2018

us-gaap

Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value

AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue

415000

USD

CY2018

efc

Net Increase Decrease In Equity From Transactions

NetIncreaseDecreaseInEquityFromTransactions

-75702000

USD

CY2018

us-gaap

Stockholders Equity Period Increase Decrease

StockholdersEquityPeriodIncreaseDecrease

-25791000

USD

CY2018Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

595170000

USD

CY2018

us-gaap

Common Stock Dividends Per Share Declared

CommonStockDividendsPerShareDeclared

1.64

CY2018

us-gaap

Profit Loss

ProfitLoss

49911000

USD

CY2018

efc

Realizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludes F Xoncash

RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash

25368000

USD

CY2018

efc

Total Net Unrealized Gain Loss On Investments Other Secured Borrowings Financial Derivativesand Foreign Currency Translationexcluding F Xoncash

TotalNetUnrealizedGainLossOnInvestmentsOtherSecuredBorrowingsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash

26318000

USD

CY2018

us-gaap

Accretion Amortization Of Discounts And Premiums Investments

AccretionAmortizationOfDiscountsAndPremiumsInvestments

-45895000

USD

CY2018

us-gaap

Payments To Acquire Investments

PaymentsToAcquireInvestments

3350398000

USD

CY2018

us-gaap

Payments For Proceeds From Investments

PaymentsForProceedsFromInvestments

-1868532000

USD

CY2018

efc

Proceeds From Principal Payments Of Investments

ProceedsFromPrincipalPaymentsOfInvestments

497858000

USD

CY2018

efc

Proceeds From Investments Sold Short

ProceedsFromInvestmentsSoldShort

2674841000

USD

CY2018

efc

Repurchase Of Investments Sold Short

RepurchaseOfInvestmentsSoldShort

2457148000

USD

CY2018

efc

Paymentsonfinancialderivatives

119490000

USD

CY2018

efc

Proceedsfromfinancialderivatives

121904000

USD

CY2018

us-gaap

Amortization Of Financing Costs

AmortizationOfFinancingCosts

263000

USD

CY2018

efc

Shares Issued In Connection With Incentive Fee Payment Non Cash

SharesIssuedInConnectionWithIncentiveFeePaymentNonCash

71000

USD

CY2018

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

415000

USD

CY2018

efc

Interestincomerelatedtoconsolidatedsecuritizationtrust

4697000

USD

CY2018

efc

Interestexpenserelatedtoconsolidatedsecuritizationtrust

4313000

USD

CY2018

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvalue

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvalue

1647000

USD

CY2018

efc

Increase Decrease In Repurchase Agreements

IncreaseDecreaseInRepurchaseAgreements

-94675000

USD

CY2018

efc

Increase Decrease In Receivable For Securities Sold

IncreaseDecreaseInReceivableForSecuritiesSold

304826000

USD

CY2018

us-gaap

Increase Decrease In Deposits Outstanding

IncreaseDecreaseInDepositsOutstanding

-68610000

USD

CY2018

us-gaap

Increase Decrease In Accrued Interest Receivable Net

IncreaseDecreaseInAccruedInterestReceivableNet

7988000

USD

CY2018

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

-28234000

USD

CY2018

efc

Increase Decrease In Due To Brokers Margin Accounts

IncreaseDecreaseInDueToBrokersMarginAccounts

3832000

USD

CY2018

efc

Increase Decrease In Payable For Securities Purchased

IncreaseDecreaseInPayableForSecuritiesPurchased

285708000

USD

CY2018

us-gaap

Increase Decrease In Accounts Payable And Accrued Liabilities

IncreaseDecreaseInAccountsPayableAndAccruedLiabilities

1838000

USD

CY2018

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

-17000

USD

CY2018

efc

Increase Decrease Interest And Dividends Payable

IncreaseDecreaseInterestAndDividendsPayable

1255000

USD

CY2018

efc

Increasedecreaseinaccruedmanagementfee

-369000

USD

CY2018

us-gaap

Net Cash Provided By Used In Operating Activities

NetCashProvidedByUsedInOperatingActivities

-494181000

USD

CY2018

us-gaap

Proceeds From Minority Shareholders

ProceedsFromMinorityShareholders

21532000

USD

CY2018

us-gaap

Payments For Repurchase Of Common Stock

PaymentsForRepurchaseOfCommonStock

23131000

USD

CY2018

us-gaap

Payments Of Dividends

PaymentsOfDividends

50736000

USD

CY2018

us-gaap

Payments To Minority Shareholders

PaymentsToMinorityShareholders

23853000

USD

CY2018

efc

Proceedsfromissuanceofsecuritizeddebt

100010000

USD

CY2018

efc

Principal Payment On Securitized Debt

PrincipalPaymentOnSecuritizedDebt

43819000

USD

CY2018

us-gaap

Proceeds From Issuance Of Secured Debt

ProceedsFromIssuanceOfSecuredDebt

102706000

USD

CY2018

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvaluefinancingactivities

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvaluefinancingactivities

-775000

USD

CY2018

efc

Borrowingsunder Reverse Repurchase Agreements

BorrowingsunderReverseRepurchaseAgreements

8078468000

USD

CY2018

efc

Repaymentsof Reverse Repurchase Agreements

RepaymentsofReverseRepurchaseAgreements

7668798000

USD

CY2018

us-gaap

Net Cash Provided By Used In Financing Activities

NetCashProvidedByUsedInFinancingActivities

491604000

USD

CY2018

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect

-2577000

USD

CY2017Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

47658000

USD

CY2018

efc

Shares Issued In Connection With Incentive Fee Payment Non Cash

SharesIssuedInConnectionWithIncentiveFeePaymentNonCash

71000

USD

CY2018

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

415000

USD

CY2018Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

45081000

USD

CY2018

us-gaap

Interest Paid Net

InterestPaidNet

55649000

USD

CY2018

efc

Aggregate To Be Announced Trade Activity Buys Sells Non Cash

AggregateToBeAnnouncedTradeActivityBuysSellsNonCash

29752907000

USD

CY2018

efc

Purchaseof Investments Non Cash

PurchaseofInvestmentsNonCash

-17424000

USD

CY2018

efc

Proceedsfromprincipalpaymentsofinvestmentsnoncash

49731000

USD

CY2018

efc

Proceedsfromthe Dispositionof Investments Non Cash

ProceedsfromtheDispositionofInvestmentsNonCash

17424000

USD

CY2018

efc

Proceedsreceivedfrom Othersecuredborrowingsatfairvaluenoncash

ProceedsreceivedfromOthersecuredborrowingsatfairvaluenoncash

120625000

USD

CY2018

efc

Principalpaymentson Othersecuredborrowingsatfairvaluenoncash

PrincipalpaymentsonOthersecuredborrowingsatfairvaluenoncash

49731000

USD

CY2018

efc

Repaymentsofreverserepurchaseagreementsnoncash

-120136000

USD

CY2018

efc

Debtissuancecostsrelatedto Othersecuredborrowingsatfairvaluenoncash

DebtissuancecostsrelatedtoOthersecuredborrowingsatfairvaluenoncash

-872000

USD

CY2018

efc

Sharebasedlongtermincentiveplanunitredemptionnoncash

-9537000

USD

CY2018

efc

Contributionfromnoncontrollinginterestnoncash

9537000

USD

CY2018

efc

Numberofdaystodeterminenonperformanceofloan

P90D

CY2018Q4

us-gaap

Long Term Debt Fair Value

LongTermDebtFairValue

86000000.0

USD

CY2018

efc

Net Realized Gain Losson Derivativesincludinggainlossonforeigncurrencytransactions

NetRealizedGainLossonDerivativesincludinggainlossonforeigncurrencytransactions

1911000

USD

CY2018

efc

Unrealized Gain Losson Derivatives Including Gain Lossfrom Foreign Currency Remeasurement

UnrealizedGainLossonDerivativesIncludingGainLossfromForeignCurrencyRemeasurement

7807000

USD

CY2018

efc

Minimumeconomicinterestrequiredtoberetained

0.05

CY2018

efc

Faceamountofnotesdistributedfrom Risk Retention Vehicle

FaceamountofnotesdistributedfromRiskRetentionVehicle

5600000

USD

CY2018

efc

Proceedsreceivedfromequityinvestmentinriskretentionvehicleliquidation

5700000

USD

CY2018Q4

efc

Totalsecuredborrowings

1911000000

USD

CY2018Q4

efc

Numberof Counterpartieswith Outstanding Reverse Repurchase Agreements

NumberofCounterpartieswithOutstandingReverseRepurchaseAgreements

23

counterparty

CY2018Q4

us-gaap

Assets Sold Under Agreements To Repurchase Repurchase Liability

AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability

1498849000

USD

CY2018Q4

us-gaap

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements

1790000000

USD

CY2018Q4

efc

Concentration Risk Reverse Repurchase Agreements

ConcentrationRiskReverseRepurchaseAgreements

0.21

CY2018Q4

efc

Number Counterparties With Concentration Risk Reverse Repurchase Agreements

NumberCounterpartiesWithConcentrationRiskReverseRepurchaseAgreements

1

counterparty

CY2018

efc

Incentive Fee Rate

IncentiveFeeRate

0.25

CY2018Q4

efc

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements Unsettled

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreementsUnsettled

86700000

USD

CY2018Q4

efc

Repurchase Agreementsamountatriskthreshold

RepurchaseAgreementsamountatriskthreshold

0.10

CY2018

efc

Annual Base Management Fee Percentage

AnnualBaseManagementFeePercentage

0.0150

CY2018

us-gaap

Management Fee Expense

ManagementFeeExpense

7600000

USD

CY2018Q4

efc

Incentive Fee Loss Carryforward

IncentiveFeeLossCarryforward

2100000

USD

CY2018

efc

Incentive Fee Hurdle Rate Fixed

IncentiveFeeHurdleRateFixed

0.09

CY2018

efc

Incentive Fee Hurdle Rate Floating

IncentiveFeeHurdleRateFloating

0.03

CY2018

efc

Minimum Percentage Of Incentive Fee To Be Paid In Share

MinimumPercentageOfIncentiveFeeToBePaidInShare

0.10

CY2018

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

700000

USD

CY2018

efc

Termination Fee Number Of Periods

TerminationFeeNumberOfPeriods

2

period

CY2018

efc

Termination Fee Period

TerminationFeePeriod

P12M

CY2018

efc

Termination Fee Number Of Periods

TerminationFeeNumberOfPeriods

2

period

CY2018

efc

Termination Fee Period

TerminationFeePeriod

P12M

CY2018

efc

Expense Reimbursement Period

ExpenseReimbursementPeriod

P60D

CY2018

efc

Expense Reimbursement Manager

ExpenseReimbursementManager

6500000

USD

CY2018

us-gaap

Investment Company Contractual Fee Waived

InvestmentCompanyContractualFeeWaived

1400000

USD

CY2018

efc

Faceamountofinvestmentspurchasedfromrelatedparty

2900000

USD

CY2018

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

400000

USD

CY2018Q4

us-gaap

Common Stock Capital Shares Reserved For Future Issuance

CommonStockCapitalSharesReservedForFutureIssuance

1874223

shares

CY2018

us-gaap

Common Stock Dividends Per Share Declared

CommonStockDividendsPerShareDeclared

1.64

CY2018

us-gaap

Payments Of Dividends

PaymentsOfDividends

50700000

USD

CY2017Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

31335938

shares

CY2018

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

1547148

shares

CY2018

us-gaap

Stock Issued During Period Shares Conversion Of Units

StockIssuedDuringPeriodSharesConversionOfUnits

3334

shares

CY2018

us-gaap

Stock Issued During Period Shares Issued For Services

StockIssuedDuringPeriodSharesIssuedForServices

4477

shares

CY2018Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

29796601

shares

CY2018Q4

efc

Common Shares Issued And Outstanding Upon Conversion Of All Convertible Securities

CommonSharesIssuedAndOutstandingUponConversionOfAllConvertibleSecurities

30529972

shares

CY2018Q2

us-gaap

Stock Repurchase Program Number Of Shares Authorized To Be Repurchased

StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased

1550000

shares

CY2018

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

1547148

shares

CY2018

efc

Stock Repurchases Average Price Per Share

StockRepurchasesAveragePricePerShare

14.95

CY2018

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

23100000

USD

us-gaap

Stock Repurchased And Retired During Period Shares

StockRepurchasedAndRetiredDuringPeriodShares

361090

shares

efc

Stock Repurchases Average Price Per Share

StockRepurchasesAveragePricePerShare

15.34

us-gaap

Stock Repurchased And Retired During Period Value

StockRepurchasedAndRetiredDuringPeriodValue

5500000

USD

CY2018

us-gaap

Net Income Loss

NetIncomeLoss

46676000

USD

CY2018

efc

Net Income Loss Attributableto Participating Noncontrolling Interest

NetIncomeLossAttributabletoParticipatingNoncontrollingInterest

319000

USD

CY2018

efc

Netincomelossattributabletoparentandparticipatingnoncontrollinginterest

46995000

USD

CY2018

us-gaap

Dividends

50736000

USD

CY2018

us-gaap

Undistributed Earnings

UndistributedEarnings

-3741000

USD

CY2018

us-gaap

Earnings Per Share Basic Distributed

EarningsPerShareBasicDistributed

1.64

CY2018

us-gaap

Earnings Per Share Basic Undistributed

EarningsPerShareBasicUndistributed

-0.12

CY2018

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

1.52

CY2018Q4

us-gaap

Derivative Liability Not Offset Policy Election Deduction

DerivativeLiabilityNotOffsetPolicyElectionDeduction

10910000

USD

CY2018Q4

us-gaap

Derivative Collateral Obligation To Return Cash

DerivativeCollateralObligationToReturnCash

2514000

USD

CY2018

us-gaap

Earnings Per Share Diluted Distributed

EarningsPerShareDilutedDistributed

1.64

CY2018

us-gaap

Earnings Per Share Diluted Undistributed

EarningsPerShareDilutedUndistributed

-0.12

CY2018

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

1.52

CY2018

efc

Net Income Loss Attributableto Non Participating Noncontrolling Interest

NetIncomeLossAttributabletoNonParticipatingNoncontrollingInterest

2900000

USD

CY2018Q4

us-gaap

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements

1790000000

USD

CY2018Q4

efc

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements Unsettled

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreementsUnsettled

86700000

USD

CY2018

efc

Concentration Risk Treshold

ConcentrationRiskTreshold

0.15

CY2018Q4

us-gaap

Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements

PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements

1790000000

USD

CY2018Q4

efc

Unencumbered Investments Held In Custody

UnencumberedInvestmentsHeldInCustody

13300000

USD

CY2018

efc

Concentration Risk Treshold

ConcentrationRiskTreshold

0.15

CY2018

efc

Concentration Risk Treshold

ConcentrationRiskTreshold

0.15

CY2018Q4

us-gaap

Cash And Cash Equivalents At Carrying Value

CashAndCashEquivalentsAtCarryingValue

44700000

USD

CY2018Q4

us-gaap

Restricted Cash And Cash Equivalents

RestrictedCashAndCashEquivalents

425000

USD

CY2018Q4

us-gaap

Derivative Assets

DerivativeAssets

20001000

USD

CY2018Q4

us-gaap

Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

0

USD

CY2018Q4

us-gaap

Derivative Liabilities

DerivativeLiabilities

20806000

USD

CY2018Q4

us-gaap

Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash

SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash

0

USD

CY2018Q4

us-gaap

Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

6577000

USD

CY2018Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Subject To Master Netting Arrangement

SecuritiesPurchasedUnderAgreementsToResellNotSubjectToMasterNettingArrangement

61274000

USD

CY2018Q4

us-gaap

Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction

SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction

61274000

USD

CY2018Q4

us-gaap

Derivative Asset Not Offset Policy Election Deduction

DerivativeAssetNotOffsetPolicyElectionDeduction

10910000

USD

CY2018Q4

us-gaap

Derivative Collateral Right To Reclaim Cash

DerivativeCollateralRightToReclaimCash

9896000

USD

CY2018Q4

us-gaap

Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

0

USD

CY2018Q4

us-gaap

Securities Sold Under Agreements To Repurchase

SecuritiesSoldUnderAgreementsToRepurchase

1498849000

USD

CY2018Q4

us-gaap

Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction

SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction

61274000

USD

CY2018Q4

us-gaap

Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash

SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash

16974000

USD

CY2018Q4

us-gaap

Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election

SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection

0

USD

CY2018Q4

us-gaap

Securities Sold Under Agreements To Repurchase Fair Value Of Collateral

SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral

1790000000

USD

CY2018Q4

us-gaap

Guarantee Obligations Current Carrying Value

GuaranteeObligationsCurrentCarryingValue

1000000.0

USD

CY2017Q4

us-gaap

Net Asset Value Per Share

NetAssetValuePerShare

19.15

CY2018

us-gaap

Investment Company Investment Income Loss Per Share

InvestmentCompanyInvestmentIncomeLossPerShare

1.42

CY2018

us-gaap

Investment Company Gain Loss On Investment Per Share

InvestmentCompanyGainLossOnInvestmentPerShare

0.23

CY2018

us-gaap

Investment Company Investment Income Loss From Operations Per Share

InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare

1.65

CY2018

efc

Netincomelossattributabletononcontrollinginterestpershare

-0.11

CY2018

efc

Netincomelossattributabletoparentpershare

1.54

CY2018

efc

Divideds Paid Per Common Share

DividedsPaidPerCommonShare

1.64

CY2018

efc

Weighted Average Share Impact On Dividends Paid

WeightedAverageShareImpactOnDividendsPaid

-0.03

CY2018

efc

Accretive Dilutive Effectof Share Issuances Netof Offering Costs Share Repurchasesand Adjustmentsto Noncontrollinginterests

AccretiveDilutiveEffectofShareIssuancesNetofOfferingCostsShareRepurchasesandAdjustmentstoNoncontrollinginterests

-0.10

CY2018Q4

us-gaap

Net Asset Value Per Share

NetAssetValuePerShare

18.92

CY2018Q4

us-gaap

Common Stock Shares Outstanding

CommonStockSharesOutstanding

29796601

shares

CY2018Q4

efc

Shareholders Equity Per Share Upon Conversion Of All Convertible Units

ShareholdersEquityPerShareUponConversionOfAllConvertibleUnits

18.92

CY2018

us-gaap

Investment Company Total Return After Incentive Fees

InvestmentCompanyTotalReturnAfterIncentiveFees

0.0738

CY2018

efc

Market Based Total Return

MarketBasedTotalReturn

0.1730

CY2018

us-gaap

Investment Company Investment Income Loss Ratio

InvestmentCompanyInvestmentIncomeLossRatio

0.0704

CY2018

efc

Ratio Of Operating Expenses Before Incentive Fee Interest Expenseand Other Investment Related Expenses To Average Equity

RatioOfOperatingExpensesBeforeIncentiveFeeInterestExpenseandOtherInvestmentRelatedExpensesToAverageEquity

0.0286

CY2018

us-gaap

Investment Company Incentive Fee To Average Net Assets

InvestmentCompanyIncentiveFeeToAverageNetAssets

0.0012

CY2018

efc

Ratio Of Interestandotherinvestmentrelated Expenses To Average Equity

RatioOfInterestandotherinvestmentrelatedExpensesToAverageEquity

0.1203

CY2018

us-gaap

Investment Company Expense Ratio After Incentive Allocation

InvestmentCompanyExpenseRatioAfterIncentiveAllocation

0.1501

CY2018Q1

us-gaap

Interest Income Operating

InterestIncomeOperating

28092000

USD

CY2018Q2

us-gaap

Interest Income Operating

InterestIncomeOperating

31941000

USD

CY2018Q3

us-gaap

Interest Income Operating

InterestIncomeOperating

35300000

USD

CY2018Q4

us-gaap

Interest Income Operating

InterestIncomeOperating

35694000

USD

CY2018Q1

us-gaap

Other Operating Income

OtherOperatingIncome

716000

USD

CY2018Q2

us-gaap

Other Operating Income

OtherOperatingIncome

1094000

USD

CY2018Q3

us-gaap

Other Operating Income

OtherOperatingIncome

1046000

USD

CY2018Q4

us-gaap

Other Operating Income

OtherOperatingIncome

1157000

USD

CY2018Q1

us-gaap

Interest And Other Income

InterestAndOtherIncome

28808000

USD

CY2018Q2

us-gaap

Interest And Other Income

InterestAndOtherIncome

33035000

USD

CY2018Q3

us-gaap

Interest And Other Income

InterestAndOtherIncome

36346000

USD

CY2018Q4

us-gaap

Interest And Other Income

InterestAndOtherIncome

36851000

USD

CY2018Q1

us-gaap

Management Fee Expense

ManagementFeeExpense

1978000

USD

CY2018Q2

us-gaap

Management Fee Expense

ManagementFeeExpense

2021000

USD

CY2018Q3

us-gaap

Management Fee Expense

ManagementFeeExpense

1830000

USD

CY2018Q4

us-gaap

Management Fee Expense

ManagementFeeExpense

1744000

USD

CY2018Q1

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

0

USD

CY2018Q2

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

291000

USD

CY2018Q3

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

424000

USD

CY2018Q4

us-gaap

Incentive Fee Expense

IncentiveFeeExpense

0

USD

CY2018Q1

us-gaap

Interest Expense

InterestExpense

11562000

USD

CY2018Q2

us-gaap

Interest Expense

InterestExpense

13383000

USD

CY2018Q3

us-gaap

Interest Expense

InterestExpense

15678000

USD

CY2018Q4

us-gaap

Interest Expense

InterestExpense

16083000

USD

CY2018Q1

efc

Otherinvestmentrelatedexpenses

2952000

USD

CY2018Q2

efc

Otherinvestmentrelatedexpenses

3771000

USD

CY2018Q3

efc

Otheroperatingexpenses

2352000

USD

CY2018Q4

efc

Otheroperatingexpenses

4609000

USD

CY2018Q3

efc

Otherinvestmentrelatedexpenses

4384000

USD

CY2018Q4

efc

Otherinvestmentrelatedexpenses

4201000

USD

CY2018Q1

efc

Otheroperatingexpenses

2074000

USD

CY2018Q2

efc

Otheroperatingexpenses

2578000

USD

CY2018Q1

us-gaap

Operating Expenses

OperatingExpenses

18566000

USD

CY2018Q2

us-gaap

Operating Expenses

OperatingExpenses

22044000

USD

CY2018Q3

us-gaap

Operating Expenses

OperatingExpenses

24668000

USD

CY2018Q4

us-gaap

Operating Expenses

OperatingExpenses

26637000

USD

CY2018Q1

us-gaap

Operating Income Loss

OperatingIncomeLoss

10242000

USD

CY2018Q2

us-gaap

Operating Income Loss

OperatingIncomeLoss

10991000

USD

CY2018Q3

us-gaap

Operating Income Loss

OperatingIncomeLoss

11678000

USD

CY2018Q4

us-gaap

Operating Income Loss

OperatingIncomeLoss

10214000

USD

CY2018Q1

efc

Realizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludes F Xoncash

RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash

13051000

USD

CY2018Q2

efc

Realizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludes F Xoncash

RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash

-1343000

USD

CY2018Q3

efc

Realizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludes F Xoncash

RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash

10102000

USD

CY2018Q4

efc

Realizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludes F Xoncash

RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash

9578000

USD

CY2018Q1

efc

Total Net Unrealized Gain Loss On Investments Other Secured Borrowings Financial Derivativesand Foreign Currency Translationexcluding F Xoncash

TotalNetUnrealizedGainLossOnInvestmentsOtherSecuredBorrowingsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash

-1969000

USD

CY2018Q2

efc

Total Net Unrealized Gain Loss On Investments Other Secured Borrowings Financial Derivativesand Foreign Currency Translationexcluding F Xoncash

TotalNetUnrealizedGainLossOnInvestmentsOtherSecuredBorrowingsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash

12536000

USD

CY2018Q3

efc

Total Net Unrealized Gain Loss On Investments Other Secured Borrowings Financial Derivativesand Foreign Currency Translationexcluding F Xoncash

TotalNetUnrealizedGainLossOnInvestmentsOtherSecuredBorrowingsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash

-14306000

USD

CY2018Q4

efc

Total Net Unrealized Gain Loss On Investments Other Secured Borrowings Financial Derivativesand Foreign Currency Translationexcluding F Xoncash

TotalNetUnrealizedGainLossOnInvestmentsOtherSecuredBorrowingsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash

-20862000

USD

CY2018Q1

us-gaap

Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency

InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency

11082000

USD

CY2018Q2

us-gaap

Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency

InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency

11193000

USD

CY2018Q3

us-gaap

Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency

InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency

-4204000

USD

CY2018Q4

us-gaap

Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency

InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency

-11284000

USD

CY2018Q1

us-gaap

Profit Loss

ProfitLoss

21324000

USD

CY2018Q2

us-gaap

Profit Loss

ProfitLoss

22184000

USD

CY2018Q3

us-gaap

Profit Loss

ProfitLoss

7474000

USD

CY2018Q4

us-gaap

Profit Loss

ProfitLoss

-1070000

USD

CY2018Q1

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

285000

USD

CY2018Q2

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

991000

USD

CY2018Q3

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

813000

USD

CY2018Q4

us-gaap

Net Income Loss Attributable To Noncontrolling Interest

NetIncomeLossAttributableToNoncontrollingInterest

1147000

USD

CY2018Q1

us-gaap

Net Income Loss

NetIncomeLoss

21039000

USD

CY2018Q2

us-gaap

Net Income Loss

NetIncomeLoss

21193000

USD

CY2018Q3

us-gaap

Net Income Loss

NetIncomeLoss

6661000

USD

CY2018Q4

us-gaap

Net Income Loss

NetIncomeLoss

-2217000

USD

CY2018Q1

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.67

CY2018Q2

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.69

CY2018Q3

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

0.22

CY2018Q4

us-gaap

Earnings Per Share Basic And Diluted

EarningsPerShareBasicAndDiluted

-0.07

CY2018Q1

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

300000

USD

CY2018Q2

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

300000

USD

CY2019Q1

us-gaap

Dividends Payable Amount Per Share

DividendsPayableAmountPerShare

0.41

CY2019Q1

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.001

CY2019Q1

us-gaap

Dividends Payable Amount Per Share

DividendsPayableAmountPerShare

0.14

CY2018Q3

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

400000

USD

CY2018Q4

efc

Management Fee Expense Rebates

ManagementFeeExpenseRebates

400000

USD

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$EFC
Ellington Financial Inc. Stock $efc

2020 Q1 Form 10-K Financial Statement

#000141134220000030 Filed on March 13, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EFC Ellington Financial Inc. Stock $efc

2020 Q1 Form 10-K Financial Statement

#000141134220000030 Filed on March 13, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EFC
Ellington Financial Inc. Stock $efc