Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash Flows from Operating Activities:
Net income	$ 94,907	$ 65,037
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of deferred financing costs	2,451	1,433
Accretion of net discount on mortgage-backed securities	(14,496)	(7,341)
Accretion of net deferred loan fees and discounts	(29,324)	(11,670)
Amortization of premium from collateralized debt obligations	(447)	(440)
Stock-based compensation	8,060	7,441
Incentive-fee compensation	1,387	547
Gain on sale of available-for-sale securities	(2,959)	(10,472)
Gain on sale of loans	(7,171)	(5,376)
Gain on sale of other investments		(27)
Gain on foreign currency remeasurement	(9,146)
Net change in unrealized (gains) losses on loans held-for-sale at fair value	5,760	(8,954)
Unrealized gains (losses) on interest rate hedges	(10,068)	4,230
Unrealized gains on credit hedges		(2,441)
Unrealized losses on currency hedges	5,147	6,029
Unrealized foreign currency remeasurement losses (gains)	4,355	(5,158)
OTTI	2,052	1,729
Changes in operating assets and liabilities:
Related-party payable	3,369	2,769
Accrued interest receivable, less purchased interest	(5,924)	(3,797)
Other assets	744	(10,402)
Accounts payable and accrued expenses	602	1,776
Other liabilities	9,419	13,136
Origination of held-for-sale loans		(270,066)
Proceeds from sale of held-for-sale loans	132,012	139,784
Net cash provided by (used in) operating activities	190,730	(92,233)
Cash Flows from Investing Activities:
Purchase of mortgage-backed securities	(479,871)	(92,589)
Proceeds from sale of mortgage-backed securities	46	283,778
Proceeds from mortgage-backed securities maturities		11,765
Mortgage-backed securities principal repayments	43,035	77,353
Origination and purchase of loans held for investment	(444,092)	(921,930)
Loan maturities	418,867	100,068
Proceeds from sale of loans held for investment	28,786
Loan investment principal amortization	15,281	9,386
Purchased interest on investments	(591)	(730)
Investments in other investments	(27,766)	(34,239)
Return of investment from other investments	594
Proceeds from sale of other investments		2,844
Return of investment basis in purchased derivative asset	1,922
Purchase of treasury securities		(112,619)
Proceeds from sale of treasury securities		112,741
Cash deposited as collateral under treasury securities loan agreement		(112,741)
Return of collateral under treasury securities loan agreement		112,741
Net cash used in investing activities	(443,789)	(564,172)
Cash Flows from Financing Activities:
Borrowings under secured financing agreements	798,052	778,825
Principal repayments on borrowings under secured financing arrangements	(836,181)	(631,796)
Payment of deferred financing costs	(3,452)	(540)
Proceeds from common stock offering	457,321	476,740
Payment of underwriting and offering costs	(642)	(28,075)
Payment of dividends	(82,870)	(59,620)
Distributions to non-controlling interest owners	(355)	(9,253)
Net cash provided by financing activities	331,873	526,281
Net increase (decrease) in cash and cash equivalents	78,814	(130,124)
Cash and cash equivalents, beginning of period	114,027	226,854
Cash and cash equivalents, end of period	192,841	96,730
Supplemental disclosure of cash flow information:
Cash paid for interest	23,535	14,920
Income taxes paid	689	858
Supplemental disclosure of non-cash financing activity:
Dividends declared, but not yet paid	$ 51,603	$ 41,678