CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011
Cash Flows From Operating Activities:
Net income (loss)	$ 249,082		$ 94,581
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Accretion) amortization of investment discounts/premiums, net	(44,745)		(43,420)
Amortization of deferred financing costs	6,480		1,294
Accretion (amortization) of securitized debt discounts/premiums, net	3,469		9,452
Net unrealized losses (gains) on interest rate swaps	14,607		34,981
Net unrealized losses (gains) on interest-only RMBS	(22)		1,611
Net realized losses (gains) on sales of investments	(85,165)		(1,787)
Net other-than-temporary credit impairment losses	124,065		245,913
Provision for loan losses, net	(396)		1,442
Equity-based compensation expense	242		360
Changes in operating assets:
Decrease (increase) in accrued interest receivable, net	5,459		(6,591)
Decrease (increase) in other assets	952		790
Changes in operating liabilities:
Increase (decrease) in accounts payable and other liabilities	(398)		1,190
Increase (decrease) in investment management fees and expenses payable to affiliate	(1,427)		995
Increase (decrease) in accrued interest payable, net	(513)		(103)
Net cash provided by (used in) operating activities	271,690		340,708
Cash Flows From Investing Activities:
Net cash provided by (used in) investing activities	880,299		(1,978,925)
Cash Flows From Financing Activities:
Proceeds from repurchase agreements	5,114,759		12,863,367
Payments on repurchase agreements	(6,128,842)		(10,500,974)
Net proceeds from common stock offerings			7
Payment of deferred financing costs	(8,073)
Proceeds from securitized debt borrowings, collateralized by loans held for investment	1,113,154
Payments on securitized debt borrowings, collateralized by loans held for investment	(292,568)		(61,054)
Proceeds from securitized debt borrowings, collateralized by Non-Agency RMBS			311,012
Payments on securitized debt borrowings, collateralized by Non-Agency RMBS	(380,432)		(520,730)
Net proceeds from direct purchase and dividend reinvestment	117		786
Common dividends paid	(318,296)		(451,546)
Net cash provided by (used in) financing activities	(900,181)		1,640,868
Net increase (decrease) in cash and cash equivalents	251,808		2,651
Cash and cash equivalents at beginning of period	206,299	[1]	7,173
Cash and cash equivalents at end of period	458,107		9,824
Supplemental disclosure of cash flow information:
Interest received	417,513		485,314
Interest paid	89,717		93,952
Taxes paid			3
Management fees and expenses paid to affiliate	40,290		38,640
Non-cash investing activities:
Net change in unrealized gain (loss) on available-for sale securities	418,904		(14,127)
Non-cash financing activities:
Common dividends declared, not yet paid	92,416		133,443
Residential Mortgage Backed Securities [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net realized losses (gains) on sales of investments	(85,165)		(1,787)
Cash Flows From Investing Activities:
Purchases	(119,429)		(3,664,513)
Sales	943,350		670,863
Principal payments	549,478		408,030
Residential Mortgage Backed Securities transferred to consolidated VIEs [Member]
Cash Flows From Investing Activities:
Principal payments	394,641		541,348
Securitized Loans [Member]
Cash Flows From Investing Activities:
Purchases	(1,185,664)
Principal payments	$ 297,923		$ 65,347

[1] Derived from the audited consolidated financial statements.