Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities:
Net Loss	$ (279,475,000)	$ (125,469,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Net amortization of premium on Agency Securities	21,395,000	26,983,000
Accretion of net discount on Non-Agency Securities	181,000	0
Realized gain on sale of Agency Securities	(1,891,000)	(6,544,000)
Gain on Non-Agency Securities	(4,122,000)	0
Stock based compensation	221,000	255,000
Changes in operating assets and liabilities:
Decrease in accrued interest receivable	5,617,000	240,000
Increase in prepaid and other assets	79,000	40,000
Decrease in derivatives, at fair value	64,718,000	194,956,000
Decrease in accrued interest payable- repurchase agreements	(1,469,000)	(1,514,000)
Decrease in accounts payable and other accrued expenses	(13,960,000)	(15,849,000)
Net cash provided by (used in) operating activities	(208,706,000)	73,098,000
Cash Flows From Investing Activities:
Purchases of Agency Securities	0	(1,982,478,000)
Purchases of Non-Agency Securities	(266,800,000)	0
Principal repayments of Agency Securities	368,885,000	481,387,000
Proceeds from sales of Agency Securities	1,789,215,000	1,626,904,000
Increase in cash collateral	(42,305,000)	(193,343,000)
Net cash provided by (used in) investing activities	1,848,995,000	(67,530,000)
Cash Flows From Financing Activities:
Issuance of common stock, net of expenses	0	43,000
Proceeds from repurchase agreements	40,339,908,000	20,966,843,000
Principal repayments on repurchase agreements	(41,986,530,000)	(20,943,994,000)
Common stock dividends paid	(36,393,000)	(42,486,000)
Common stock repurchased	0	(2,804,000)
Net cash used in financing activities	(1,686,920,000)	(26,303,000)
Net decrease in cash	(46,631,000)	(20,735,000)
Cash - beginning of period	289,925,000	494,561,000
Cash - end of period	243,294,000	473,826,000
Supplemental Disclosure:
Cash paid during the period for interest	67,668,000	93,160,000
Non-Cash Investing and Financing Activities:
Payable for unsettled purchases	14,955,000	0
Net unrealized gain on available for sale Agency Securities	191,912,000	89,731,000
Series A Preferred Stock
Cash Flows From Financing Activities:
Preferred dividends paid	(1,124,400)	(1,124,000)
Series B Preferred Stock
Cash Flows From Financing Activities:
Preferred dividends paid	$ (2,781,000)	$ (2,781,000)