Condensed Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Assets
Cash	$ 28,060	$ 36,316
Cash collateral posted	547	273
Agency Securities, available for sale, at fair value (including pledged assets of $1,059,756 and $1,087,452)	1,078,281	1,112,358
Non-Agency Securities, trading, at fair value (including pledged assets of $136,752 and $129,946)	136,752	129,946
Derivatives, at fair value	7,666	4,940
Accrued interest receivable	2,713	2,759
Prepaid and other assets	324	171
Total Assets	1,254,343	1,286,763
Liabilities and Stockholders’ Equity
Repurchase agreements	1,108,942	1,135,830
Cash collateral held	5,782	1,426
Accrued interest payable	736	844
Derivatives, at fair value	597	365
Accounts payable and accrued expenses	278	251
Total Liabilities	1,116,335	1,138,716
Preferred stock, $0.001 par value, 25,000 shares authorized and none issued and outstanding at March 31, 2013 and December 31, 2012	0
Common stock, $0.001 par value, 250,000 shares authorized, 7,500 shares issued and outstanding at March 31, 2013 and December 31, 2012	8	8
Additional paid-in capital	149,993	149,993
Retained Earnings	8,449	2,648
Accumulated other comprehensive loss	(20,442)	(4,602)
Total Stockholders’ Equity	138,008	148,047
Total Liabilities and Stockholders’ Equity	$ 1,254,343	$ 1,286,763