Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (4,591,000)	$ 5,509,000
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Stock based compensation and equity plan amortization	268,000	223,000
Realized and unrealized (gains) losses on mortgage-backed securities	(8,029,000)	(6,288,000)
Realized and unrealized loss on interest rate swaption	(36,000)	1,091,000
Unrealized (gains) losses on interest rate swaps	(21,000)	0
Gains On TBA Securities	1,125,000	(57,000)
Changes in operating assets and liabilities
Accrued interest receivable	184,000	(565,000)
Other assets	(350,000)	(444,000)
Accrued interest payable	32,000	(260,000)
Other liabilities	(498,000)	(1,690,000)
Due to affiliates	(26,000)	56,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(11,900,000)	(2,425,000)
From mortgage-backed securities investments
Purchases	(715,281,000)	(125,348,000)
Sales	741,114,000	40,255,000
Principal repayments	51,909,000	43,011,000
Proceeds From Sale Of Federal Home Loan Bank Stock	3,750,000	0
Increase in restricted cash	(5,048,000)	(473,000)
Proceeds From Net TBA Settlements	(942,000)	(35,000)
Purchase of interest rate swaptions, net of margin cash received	(705,000)	(207,000)
NET CASH USED IN INVESTING ACTIVITIES	76,207,000	(42,383,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	6,234,852,000	3,251,722,000
Principal payments on repurchase agreements	(6,094,176,000)	(3,228,882,000)
Payments For Federal Home Loan Bank Advances	187,500,000	0
Cash dividends	(9,154,000)	(9,239,000)
Stock Issued During Period, Value, New Issues	0	(16,175,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES	(55,978,000)	29,776,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	8,329,000	(15,032,000)
CASH AND CASH EQUIVALENTS, beginning of the period	57,229,000	93,137,000
CASH AND CASH EQUIVALENTS, end of the period	65,558,000	78,105,000
Cash paid during the period for:
Interest	3,288,000	1,556,000
SUPPLEMENTAL DISCLOSURES OF NONCASH FINANCING ACTIVITIES:
Securities acquired settled in later period	21,486,000	79,186,000
Securities sold settled in later period	$ 132,174,000	$ 0