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Non-Agency Securities, Trading (Tables)
 3 Months Ended
Mar. 31, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]  
Trading Securities
The components of the carrying value of our Non-Agency Securities at March 31, 2016 are presented in the table below. 
 
 
Non-Agency Securities
March 31, 2016
 
Fair Value
 
Amortized
 Cost
 
Principal
Amount
 
Weighted
Average
Coupon
Credit risk transfer
 
$
285,696

 
$
281,550

 
$
291,718

 
5.11
%
Total Non-Agency Securities
 
$
285,696

 
$
281,550

 
$
291,718

 
 
Investments Classified by Contractual Maturity Date
The following table summarizes the weighted average lives of our Agency Securities at March 31, 2016 and December 31, 2015.
 
 
March 31, 2016
 
December 31, 2015
Weighted Average Life of all Agency Securities
 
Fair Value
 
Amortized
Cost 
 
Fair Value
 
Amortized
Cost 
Less than one year
 
$
16

 
$
16

 
$
19

 
$
19

Greater than or equal to one year and less than three years
 
67,434

 
67,080

 
30,189

 
30,375

Greater than or equal to three years and less than five years
 
7,452,538

 
7,396,947

 
6,037,851

 
6,039,218

Greater than or equal to five years
 
2,954,022

 
2,887,248

 
6,393,497

 
6,459,246

Total Agency Securities
 
$
10,474,010

 
$
10,351,291

 
$
12,461,556

 
$
12,528,858
Trading Securities, Continuous Unrealized Loss Position, Fair Value
The following table presents the unrealized losses and estimated fair value of our Non-Agency Securities by length of time that such securities have been in a continuous unrealized loss position at March 31, 2016.
 
 
Unrealized Loss Position For:
 
 
Less than 12 Months
 
12 Months or More
 
Total
As of
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
March 31, 2016
 
$
103,211

 
$
(430
)
 
$
—

 
$
—

 
$
103,211

 
$
(430
)
Trading Securities  
Schedule of Trading Securities and Other Trading Assets [Line Items]  
Investments Classified by Contractual Maturity Date
The following table summarizes the weighted average lives of our Non-Agency Securities at March 31, 2016
 
 
March 31, 2016
Weighted Average Life of all Non-Agency Securities
 
Fair Value
 
Amortized Cost
Less than one year
 
$
—

 
$
—

Greater than or equal to one year and less than three years
 
12,909

 
12,745

Greater than or equal to three years and less than five years
 
56,427

 
55,399

Greater than or equal to five years
 
216,360

 
213,406

Total Non-Agency Securities
 
$
285,696

 
$
281,550