Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Carrying Values and Fair Values of All Financial Instruments

The carrying values and fair values of all financial instruments as of March 31, 2013 and December 31, 2012 were as follows:

	March 31, 2013				December 31, 2012
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Assets
Mortgage-backed securities	$	25,162,730	$	25,162,730	$	23,919,251	$	23,919,251
Cash and cash equivalents		315,253		315,253		168,424		168,424
Restricted cash		239,417		239,417		281,021		281,021
Unsettled purchased mortgage backed securities		113,171		113,171		138,338		138,338
Receivable for securities sold		—		—		1,587,535		1,587,535
Accrued interest receivable		74,691		74,691		77,113		77,113
Principal payments receivable		151,200		151,200		190,832		190,832
Debt security		15,000		14,014		15,000		13,981
Short term investment*		20,151		20,151		20,187		20,187
Forward purchase commitments*		6,476		6,476		5,452		5,452
Futures contracts*		51		51		—		—
Liabilities
Repurchase agreements	$	22,586,932	$	22,586,932	$	22,866,429	$	22,866,429
Payable for unsettled securities		138,688		138,688		137,121		137,121
Accrued interest payable		5,040		5,040		7,592		7,592
Interest rate hedge liability		220,040		220,040		243,945		243,945

* These lines are included in Other assets on the balance sheets