Consolidated Statements of Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Interest income:
Interest income on mortgage-backed securities	$ 80,969	$ 107,040	$ 266,734	$ 346,396
Interest income on short-term cash investments	330	303	959	1,104
Total interest income	81,299	107,343	267,693	347,500
Interest expense	31,950	51,599	105,529	156,955
Net interest margin	49,349	55,744	162,164	190,545
Operating expenses:
Management fee	4,122	4,522	12,420	13,956
Share based compensation	890	637	2,592	1,893
General and administrative	2,113	1,538	6,584	4,509
Total operating expenses	7,125	6,697	21,596	20,358
Other income (loss):
Net realized gain (loss) on sale of mortgage-backed securities	237	(225,635)	3,089	(214,333)
Impairment of mortgage-backed securities		(8,102)		(8,102)
Gain (loss) on derivative instruments, net	35,430	(77,456)	(61,445)	(71,920)
Total other income (loss)	35,667	(311,193)	(58,356)	(294,355)
Net income (loss)	77,891	(262,146)	82,212	(124,168)
Dividends on preferred stock	5,480	5,481	16,441	16,441
Net income (loss) available to common shareholders	$ 72,411	$ (267,627)	$ 65,771	$ (140,609)
Earnings (loss) per share - common stock, basic	$ 0.75	$ (2.72)	$ 0.68	$ (1.43)
Earnings (loss) per share - common stock, diluted	$ 0.75	$ (2.72)	$ 0.68	$ (1.43)
Dividends per share of common stock	$ 0.50	$ 0.55	$ 1.50	$ 1.95
Weighted average common shares outstanding, basic	96,563,132	98,318,205	96,561,446	98,656,750
Weighted average common shares outstanding, diluted	96,563,132	98,318,205	96,561,446	98,656,750