Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Securities	$ 67,705	$ 86,362
Mortgage loans	1,149	467
Mortgage loans in securitization trusts	1,819
Short-term cash investments	464	288
Total interest income	71,137	87,117
Interest expense:
Repurchase agreements	22,088	27,314
Warehouse lines	252
Collateralized borrowings in securitization trusts	406
Total interest expense	22,746	27,314
Net interest margin	48,391	59,803
Other income (loss):
Servicing income	18,882
Management fee income	1,400
Net realized gain on sale of securities	4,287	16,453
Net gain on mortgage loans	2,607	244
Net loss on mortgage servicing rights	(38,111)
Net loss on derivative instruments	(92,494)	(102,785)
Net miscellaneous gains and losses	1,315
Total other loss	(102,114)	(86,088)
Expenses:
Management fee	3,982	4,095
Share-based compensation	1,293	1,045
Servicing expenses	2,665
General and administrative	9,430	3,110
Securitization deal costs	72
Total expenses	17,442	8,250
Net loss	(71,165)	(34,535)
Dividends on preferred stock	5,480	5,481
Net loss available to common shareholders	$ (76,645)	$ (40,016)
Loss per share - common stock, basic	$ (0.81)	$ (0.41)
Loss per share - common stock, diluted	(0.81)	(0.41)
Dividends per share of common stock	$ 0.45	$ 0.50
Weighted average common shares outstanding, basic	94,850,791	96,783,199
Weighted average common shares outstanding, diluted	94,850,791	96,783,199