Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash	$ 181,395	$ 221,668
Cash collateral posted to counterparties	91,771	10,531
Agency Securities (including pledged securities of $11,188,502 at December 31, 2019 and $6,743,689 at December 31, 2018)	11,941,766	7,051,954
Securities, trading, at fair value	883,601	939,184
Derivatives, at fair value	24,751	111,913
Accrued interest receivable	35,085	22,505
Prepaid and other	9,051	1,855
Subordinated loan to BUCKLER	105,000	105,000
Total Assets	13,272,420	8,464,610
Liabilities:
Repurchase agreements	11,354,547	7,037,651
Cash collateral posted by counterparties	14,958	97,213
Payable for unsettled purchases	358,712	166,052
Derivatives, at fair value	71,974	24,505
Accrued interest payable- repurchase agreements	31,932	10,268
Accounts payable and other accrued expenses	3,590	3,608
Total Liabilities	11,835,713	7,339,297
Commitments and contingencies (Note 9)
Preferred stock, $0.001 par value, 50,000 shares authorized;
Common stock, $0.001 par value, 125,000 shares authorized, 58,877 and 43,702 shares issued and outstanding at December 31, 2019 and December 31, 2018	59	44
Additional paid-in capital	3,054,604	2,752,376
Accumulated deficit	(1,973,437)	(1,583,245)
Accumulated other comprehensive income (loss)	355,473	(43,870)
Total Stockholders’ Equity	1,436,707	1,125,313
Total Liabilities and Stockholders’ Equity	13,272,420	8,464,610
Series A Preferred Stock
Preferred stock, $0.001 par value, 50,000 shares authorized;
Preferred stock	0	2
Series B Preferred Stock
Preferred stock, $0.001 par value, 50,000 shares authorized;
Preferred stock	8	6
Credit Risk and Non-Agency Securities
Assets
Securities, trading, at fair value	883,601	819,915
Interest-Only Securities
Assets
Securities, trading, at fair value	0	20,623
U.S. Treasury Securities
Assets
Securities, trading, at fair value	$ 0	$ 98,646