CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating Activities:
Net income (loss)	$ 10,097	$ (1,361)	$ 25,498	$ (21,617)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation on rental properties	116	112	231	224
Impairment charge on Non-Agency MBS	905		1,637
Unrealized gain on Agency MBS held as trading investments	(4,100)		(4,200)
Gain on sales of residential mortgage loans		(33)	(378)	(33)
Amortization of restricted stock	20	79	41	158
Recovery on Non-Agency MBS	(1)	(1)	(1)	(2)
Periodic net settlements on interest rate swaps, net of amortization	(1,751)	(4,120)	(4,097)	(10,678)
(Gain) loss on interest rate swaps, net	5,960	16,089	5,487	66,308
(Gain) on derivatives	4,422	9,385	2,044	44,228
Changes in assets and liabilities:
(Increase) in interest receivable	(3,063)	2,007	(5,372)	443
(Increase) in prepaid expenses and other	8,549	64	17	(1,846)
Decrease in restricted cash	(1,590)	452	1,865	9,674
Increase in accrued interest payable	3,714	1,828	4,381	2,687
(Decrease) increase in accrued expenses	389	(4,158)	252	948
Net cash provided by operating activities	26,793	19,160	39,872	50,568
Investing Activities:
Proceeds from sales	27,466		35,679	314,129
Purchases	(568,505)		(683,966)	(19,834)
Principal payments	327,085	267,936	607,521	524,342
Residential properties purchases	(58)	(87)	(155)	(173)
Net cash (used in) provided by investing activities	(213,985)	294,726	(34,036)	845,593
Financing Activities:
Borrowings from repurchase agreements	5,748,475	6,694,763	11,201,207	14,657,028
Repayments on repurchase agreements	(5,611,339)	(6,980,309)	(11,209,769)	(15,497,111)
Settlements on terminated interest rate swaps		(8,594)		(14,756)
Proceeds from common stock issued (common stock repurchased), net	307	(4,044)	629	(13,242)
Preferred stock dividends paid	(1,755)	(1,636)	(3,415)	(3,272)
Common stock dividends paid	(14,337)	(14,539)	(28,695)	(29,401)
Net cash provided by (used in) financing activities	151,785	(305,386)	(20,234)	(880,868)
Net increase in cash and cash equivalents	(35,407)	8,500	(14,398)	15,293
Cash and cash equivalents at beginning of period	52,040	12,547	31,031	5,754
Cash and cash equivalents at end of period	16,633	21,047	16,633	21,047
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	12,104	12,979	26,894	32,585
Common stock repurchased		4,087		13,526
Change in payable for MBS purchased	(14,292)	3,827	340	3,827
Residential mortgage loans
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of premium (discount)	(27)	(105)	(95)	(219)
Investing Activities:
Proceeds from sales		26,653	6,806	26,653
Principal payments	27	224	79	476
Series C Preferred Stock
Financing Activities:
Proceeds on Series C Preferred Stock issued	(22,065)		(26,920)
Agency MBS
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of premium (discount)	8,811	16,322	17,178	23,751
Loss on sales of MBS	(176)		(108)	3,239
Unrealized gain on Agency MBS held as trading investments	(4,101)		(4,222)
Investing Activities:
Proceeds from sales				317,000
Non-Agency MBS
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of premium (discount)	479	(1,311)	1,001	(389)
Impairment charge on Non-Agency MBS	905		1,637
TBA Agency MBS
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
(Gain) on derivatives	(1,552)	(8,061)	(3,181)	(23,415)
Financing Activities:
Net settlements on TBA Agency MBS commitments	8,369	8,973	(7,111)	19,886
Eurodollar Future
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
(Gain) on derivatives	$ 14	$ 1,357	$ (262)	$ 1,335