CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Assets:
Cash and cash equivalents	$ 458,107	$ 206,299	[1]
Agency RMBS, at fair value	1,997,211	3,144,531	[1]
Accrued interest receivable	17,767	22,709	[1]
Other assets	13,319	1,403	[1]
Subtotal	3,141,282	4,193,555	[1]
Total assets	7,538,992	7,747,135	[1]
Liabilities:
Repurchase agreements, Agency RMBS ($1.7 billion and $2.8 billion pledged as collateral, respectively)	1,658,906	2,672,989	[1]
Accrued interest payable	2,434	3,294	[1]
Dividends payable	92,416	112,937	[1]
Accounts payable and other liabilities	1,289	1,687	[1]
Investment management fees and expenses payable to affiliate	11,531	12,958	[1]
Interest rate swaps, at fair value	59,073	44,467	[1]
Subtotal	1,825,649	2,848,332	[1]
Total liabilities	4,120,803	4,699,516	[1]
Commitments and Contingencies (See Note 15)			[1]
Stockholders' Equity:
Preferred Stock: par value $0.01 per share; 100,000,000 shares authorized, 0 shares issued and outstanding, respectively			[1]
Common stock: par value $0.01 per share; 1,500,000,000 shares authorized, 1,027,505,028 and 1,027,467,089 shares issued and outstanding, respectively	10,268	10,267	[1]
Additional paid-in-capital	3,604,097	3,603,739	[1]
Accumulated other comprehensive income (loss)	852,357	433,453	[1]
Retained earnings (accumulated deficit)	(1,048,533)	(999,840)	[1]
Total stockholders' equity	3,418,189	3,047,619	[1]
Total liabilities and stockholders' equity	7,538,992	7,747,135	[1]
Variable Interest Entities, Primary Beneficiary, Aggregated Disclosure [Member]
Assets:
Non-Agency RMBS transferred to consolidated variable interest entities ("VIEs"), at fair value	3,235,572	3,270,332	[1]
Securitized loans held for investment, net of allowance for loan losses of $11.3 million and $13.9 million, respectively	1,136,923	256,632	[1]
Accrued interest receivable	25,215	26,616	[1]
Subtotal	4,397,710	3,553,580	[1]
Liabilities:
Securitized debt, collateralized by Non-Agency RMBS ($3.2 billion and $3.3 billion pledged as collateral, respectively)	1,252,752	1,630,276	[1]
Securitized debt, collateralized by loans held for investment ($1.2 billion and $238.0 million pledged as collateral, respectively)	1,033,925	212,778	[1]
Accrued interest payable	8,477	8,130	[1]
Subtotal	2,295,154	1,851,184	[1]
Non-Agency RMBS [Member]
Assets:
Senior	82	1,020	[1]
Senior interest-only	128,868	188,679	[1]
Subordinated	509,061	606,895	[1]
Subordinated interest-only	$ 16,867	$ 22,019	[1]

[1] Derived from the audited consolidated financial statements.