CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Income:
Residential whole loans held at carrying value		$ 16,036	$ 4,083	$ 0
Cash and cash equivalent investments		130	89	124
Interest Income		492,143	463,817	482,940
Interest Expense:
Repurchase agreements and other advances		166,918	145,244	143,885
Securitized debt		1,996	6,533	12,100
Senior Notes		8,034	8,031	8,028
Interest Expense		176,948	159,808	164,013
Net Interest Income		315,195	304,009	318,927
Other-Than-Temporary Impairments:
Total other-than-temporary impairment losses		(525)	0	0
Portion of loss reclassed from other comprehensive income		(180)	0	0
Net Impairment Losses Recognized in Earnings		(705)	0	0
Other Income, net:
Unrealized net gains and net interest income from Linked Transactions		0	17,092	3,225
Net gain on residential whole loans held at fair value		17,722	116	0
Losses on TBA short positions		0	0	(7,517)
Gain on sales of MBS and U.S. Treasury securities, net		34,900	37,497	25,825
Other, net		(1,457)	80	219
Other Income, net		51,165	54,785	21,752
Operating and Other Expense:
Compensation and benefits		26,293	25,581	20,328
Other general and administrative expense		15,752	15,164	13,361
Loan servicing and other related operating expenses		10,384	3,383	0
Excise tax and interest		0	1,162	2,250
Impairment of resecuritization related costs		0	0	2,031
Operating and Other Expense		52,429	45,290	37,970
Net Income		313,226	313,504	302,709
Less Preferred Stock Dividends		15,000	15,000	13,750
Less Issuance Costs of Redeemed Preferred Stock	[1]	0	0	3,947
Net Income Available to Common Stock and Participating Securities		$ 298,226	$ 298,504	$ 285,012
Earnings per Common Share - Basic and Diluted (in dollars per share)		$ 0.80	$ 0.81	$ 0.78
Agency MBS
Interest Income:
Mortgage backed securities		$ 105,835	$ 142,543	$ 156,046
Non-Agency MBS | Non-Agency MBS
Interest Income:
Mortgage backed securities		317,821	185,806	170,485
Non-Agency MBS | Non-Agency MBS Transfered to Consolidated VIEs
Interest Income:
Mortgage backed securities		45,749	130,524	156,285
CRT securities
Interest Income:
Mortgage backed securities		$ 6,572	$ 772	$ 0

[1] Issuance costs of redeemed preferred stock represent the original offering costs related to the Series A Preferred Stock, which was redeemed on May 16, 2013. (See Note 13)