CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities		$ 12,342,274	$ 10,762,622
Securities obtained and pledged as collateral, at fair value		498,336	512,105
Residential whole loans, at carrying value ($66,279 and $67,536 pledged as collateral, respectively)		245,402	207,923
Residential whole loans, at fair value ($131,065 and $143,072 pledged as collateral, respectively)		183,861	143,472
Cash and cash equivalents		218,492	182,437
Restricted cash		68,057	67,255
Interest receivable		31,263	32,581
Derivative instruments:
MBS linked transactions, net (“Linked Transactions”), at fair value		0	398,336
Interest rate swap agreements (“Swaps”), at fair value		849	3,136
Goodwill		7,189	7,189
Prepaid and other assets		59,160	37,688
Total Assets		13,654,883	12,354,744
Liabilities:
Repurchase agreements		9,635,036	8,267,388
Securitized debt	[1]	62,320	110,574
Obligation to return securities obtained as collateral, at fair value		498,336	512,105
8% Senior Notes due 2042 (“Senior Notes”)		100,000	100,000
Accrued interest payable		13,759	13,095
Swaps, at fair value		65,420	62,198
Dividends and dividend equivalents payable		74,584	74,529
Accrued expenses and other liabilities		59,759	11,583
Total Liabilities		$ 10,509,214	$ 9,151,472
Commitments and contingencies (See Note 12)
Stockholders’ Equity:
Preferred stock, $.01 par value; 7.50% Series B cumulative redeemable; 8,050 shares authorized; 8,000 shares issued and outstanding ($200,000 aggregate liquidation preference)		$ 80	$ 80
Common stock, $.01 par value; 886,950 shares authorized; 370,196 and 370,084 shares issued and outstanding, respectively		3,702	3,701
Additional paid-in capital, in excess of par		3,016,362	3,013,634
Accumulated deficit		(569,055)	(568,596)
Accumulated other comprehensive income		694,580	754,453
Total Stockholders’ Equity		3,145,669	3,203,272
Total Liabilities and Stockholders’ Equity		13,654,883	12,354,744
Agency Mortgage Backed Securities
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities		5,331,211	5,904,207
Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities		6,882,153	4,755,432
Non-Agency MBS | Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities		6,222,676	3,358,426
Non-Agency MBS | Non-Agency MBS Transferred to Consolidated VIEs
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities	[2]	659,477	1,397,006
CRT securities
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk securities		$ 128,910	$ 102,983

[1] Securitized debt represents third-party liabilities of consolidated VIEs and excludes liabilities of the VIEs acquired by the Company that eliminate on consolidation. The third-party beneficial interest holders in the VIEs have no recourse to the general credit of the Company. (See Notes 12 and 17 for further discussion.)

[2] Non-Agency MBS transferred to consolidated VIEs represent assets of the consolidated VIEs that can be used only to settle the obligations of each respective VIE.