CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2018	Dec. 31, 2017
ASSETS
Agency MBS at fair value (including $3,691,061 and $4,073,852 pledged to counterparties at June 30, 2018 and December 31, 2017, respectively)		$ 3,834,344	$ 4,278,797
Non-Agency MBS at fair value (including $686,962 and $661,445 pledged to counterparties at June 30, 2018 and December 31, 2017, respectively)		779,995	760,825
Residential mortgage loans held-for-investment	[1]	585,020	639,351
Residential real estate		13,987	14,143
Cash and cash equivalents		12,593	12,273
Restricted cash			11,157
Interest and dividends receivable		17,272	18,091
Derivative instruments at fair value		69,639	27,793
Prepaid expenses and other		6,100	3,111
Total Assets		5,318,950	5,765,541
Liabilities:
Accrued interest payable		21,881	15,835
Repurchase agreements		4,018,480	4,365,695
Asset-backed securities issued by securitization trusts	[1]	575,653	629,984
Junior subordinated notes.		37,380	37,380
Derivative instruments at fair value		652	1,335
Accrued expenses and other		7,548	897
Total Liabilities		4,677,649	5,068,119
Series B Cumulative Convertible Preferred Stock: par value $0.01 per share; liquidating preference $25.00 per share ($19,494 and $14,494, respectively); 780 and 780 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively		19,455	19,455
Stockholders' Equity:
Common Stock: par value $0.01 per share; authorized 200,000 shares, 98,304 shares issued and outstanding at June 30, 2018 and 98,137 shares issued and outstanding at December 31, 2017, respectively		983	981
Additional paid-in capital		981,087	980,243
Accumulated other comprehensive income consisting of unrealized gains and losses		(19,460)	17,021
Accumulated deficit		(436,245)	(415,235)
Total Stockholders' Equity		621,846	677,967
Total Liabilities and Stockholders' Equity		5,318,950	5,765,541
Series A Preferred Stock
Stockholders' Equity:
Cumulative Preferred Stock		46,537	46,537
Total Stockholders' Equity		46,537	46,537
Series C Preferred Stock
Stockholders' Equity:
Cumulative Preferred Stock		48,944	48,420
Total Stockholders' Equity		48,944	48,420
Preferred Stock
Liabilities:
Dividends payable on stock		2,292	2,272
Common Stock
Liabilities:
Dividends payable on stock		13,763	14,721
Stockholders' Equity:
Total Stockholders' Equity		$ 983	$ 981

[1] The consolidated balance sheets include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations and liabilities of the VIEs for which creditors do not have recourse to the Company. At June 30, 2018 and December 31, 2017, total assets of the consolidated VIEs were $587 million and $641 million (including accrued interest receivable of $1.9 million and $2.1 million), respectively (which is recorded above in the line item entitled “Interest and dividends receivable”), and total liabilities were $578 million and $632 million (including accrued interest payable of $1.9 million and $2.0 million), respectively (which is recorded in the line item above entitled “Accrued interest payable”). Please refer to Note 4, “Variable Interest Entities,” for further discussion.