CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Interest Income:
Agency MBS	$ 59,957	$ 60,390	$ 186,114	$ 193,598
Non-Agency MBS	24,379	36,906	76,098	99,857
Non-Agency MBS transferred to consolidated VIEs	46,405		110,435
Cash and cash equivalent investments	25	121	106	286
Interest Income	130,766	97,417	372,753	293,741
Interest Expense:
Repurchase agreements	34,924	35,464	102,513	109,656
Securitized debt	3,828		8,087
Total Interest Expense	38,752	35,464	110,600	109,656
Net Interest Income	92,014	61,953	262,153	184,085
Other-Than-Temporary Impairments:
Total other-than-temporary impairment losses	(14,913)		(15,550)	(184)
Portion of loss recognized in/(reclassified from) other comprehensive income	10,922		9,167	(5,228)
Net Impairment Losses Recognized in Earnings	(3,991)		(6,383)	(5,412)
Other Income, net:
Unrealized net gains and net interest income from Linked Transactions	733	21,307	9,970	41,304
Gains on sale of MBS	4,196		4,196	33,739
Revenue from operations of real estate held-for-sale	390	369	1,146	1,100
Loss on termination of repurchase agreements				(26,815)
Other, net	(898)		(886)
Other Income, net	4,421	21,676	14,426	49,328
Operating and Other Expense:
Compensation and benefits	5,477	4,106	15,591	12,527
Other general and administrative expense	3,031	2,003	7,981	5,995
Real estate held-for-sale operating expense, mortgage interest and prepayment penalty	237	306	774	1,298
Operating and Other Expense	8,745	6,415	24,346	19,820
Net Income	83,699	77,214	245,850	208,181
Less: Preferred Stock Dividends	2,040	2,040	6,120	6,120
Net Income Available to Common Stock and Participating Securities	$ 81,659	$ 75,174	$ 239,730	$ 202,061
Earnings per Common Share - Basic and Diluted (in dollars per share)	$ 0.23	$ 0.27	$ 0.71	$ 0.72
Dividends Declared per share of Common Stock (in dollars per share)	$ 0.25	$ 0.19	$ 0.74	$ 0.43	[1]

[1] A dividend of $0.225 per share for the quarter ended September 30, 2010 was declared on October 1, 2010. See Note 10.