Consolidated Statements of Cash Flows $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)
Operating activities
Net income (loss)	$ (83,892)	$ (93,871)	$ 82,212
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net amortization of premium related to mortgage-backed securities		92,760	76,374
Reclassification of deferred swap loss		28,150	67,413
Amortization related to interest rate swap agreements		51	184
Share-based compensation expense	966	3,045	2,592
Net realized gain on sale of mortgage-backed securities	(1,216)	(17,360)	(3,089)
Net unrealized loss on mortgage-backed securities	912	912
Net unrealized loss on MSR		539
Net unrealized gain on mortgage loans held for investment		(687)
Net unrealized gain on mortgage loans held for sale		(64)
Purchase of mortgage loans held for sale		(27,408)
Sale of mortgage loans held for sale		22,192
Net loss on derivative instruments	130,301	252,501	61,445
Changes in operating assets and liabilities:
Decrease in accrued interest receivable		6,711	2,399
Increase in other assets		(15,881)	(13,211)
Decrease in accrued interest payable		(4,435)	(5,438)
Increase (decrease) in accounts payable and other liabilities		15,490	(814)
Net cash provided by operating activities		262,645	270,067
Investing activities
Purchases of mortgage-backed securities		(2,371,473)	(3,541,220)
Principal repayments on mortgage-backed securities		3,038,059	2,559,882
Sales of mortgage-backed securities		1,281,541	1,942,004
Purchases of mortgage loans held for investment		(259,752)
Principal repayments on mortgage loans held for investment		26,618
Purchases of mortgage servicing rights		(170,952)
Acquisition of Pingora, net of cash acquired		(21,473)
Net payments on derivative instruments		(58,055)	(46,532)
Purchase of equity investment			(6,000)
Purchase of broker/dealer			(1,349)
Net cash provided by investing activities		1,464,513	906,785
Financing activities
Repurchase of common stock		(6,280)	(1,912)
Cash dividends paid		(161,618)	(161,258)
Proceeds from borrowings		123,004,256	122,704,915
Principal repayments on borrowings		(124,479,963)	(123,913,639)
Proceeds from dollar roll financing			241,121
Repayments on dollar roll financing			(592,947)
Net cash used in financing activities		(1,643,605)	(1,723,720)
Net decrease in cash and cash equivalents		83,553	(546,868)
Cash and cash equivalents, beginning of period		627,595	988,705
Cash and cash equivalents, end of period	711,148	711,148	441,837
Supplemental disclosure of cash flow information
Cash paid for interest		85,827	131,614
Supplemental schedule of non-cash investing and financing activities
Obligation to brokers for purchase of unsettled mortgage-backed securities		66,266	45,571
Receivable for securities sold		51,729
Dividends accrued not yet paid	48,175	48,175
Redeemable Preferred Stock
Supplemental schedule of non-cash investing and financing activities
Dividends accrued not yet paid	4,628	4,628	4,628
Common Stock
Supplemental schedule of non-cash investing and financing activities
Dividends accrued not yet paid	$ 43,547	$ 43,547	$ 48,360