CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $) Share data in Thousands, except Per Share data, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Interest income:
Residential mortgage investments	$ 46,643,000		$ 63,463,000		$ 156,683,000		$ 194,983,000
Other	48,000		154,000		267,000		480,000
Interest income	46,691,000		63,617,000		156,950,000		195,463,000
Interest expense:
Repurchase arrangements and similar borrowings	(15,759,000)		(17,875,000)		(50,976,000)		(48,429,000)
Unsecured borrowings	(2,186,000)		(2,186,000)		(6,560,000)		(6,560,000)
Interest expense	(17,945,000)		(20,061,000)		(57,536,000)		(54,989,000)
Net interest income (expense)	28,746,000		43,556,000		99,414,000		140,474,000
Other revenue (expense):
Miscellaneous other revenue (expense)	(86,000)		9,000		(251,000)		(147,000)
Incentive compensation	(1,130,000)		(781,000)		(1,604,000)		(3,614,000)
Salaries and benefits	(1,689,000)		(1,696,000)		(4,857,000)		(5,205,000)
Other general and administrative expense	(1,203,000)		(1,115,000)		(3,382,000)		(3,160,000)
Operating expenses	(4,108,000)		(3,583,000)		(10,094,000)		(12,126,000)
Income before equity in earnings of unconsolidated affiliates	24,638,000		39,973,000		89,320,000		128,348,000
Equity in earnings of unconsolidated affiliates	64,000		64,000		194,000		194,000
Net income	24,702,000		40,037,000		89,514,000		128,542,000
Net income available to common stockholders:
Net income	24,702,000		40,037,000		89,514,000		128,542,000
Less dividends on preferred shares	(3,188,000)		(5,270,000)		(14,325,000)		(15,751,000)
Less redemption preference premiums paid	0	[1]	0	[1]	(19,924,000)	[1]	0	[1]
Net income (loss) available to common stockholders, basic, total	$ 21,514,000		$ 34,767,000		$ 55,265,000		$ 112,791,000
Net income per common share:
Basic (in dollars per share)	$ 0.23		$ 0.35		$ 0.58		$ 1.20
Diluted (in dollars per share)	$ 0.23		$ 0.35		$ 0.58		$ 1.20
Weighted average common shares outstanding:
Basic (in dollars per share)	95,268		98,071		95,139		93,808
Diluted (in dollars per share)	95,416		98,512		95,373		94,236
Cash dividends declared per share:
Common (in dollars per share)	$ 0.310		$ 0.360		$ 0.930		$ 1.190
Cumulative Preferred Stock, Series A [Member]
Cash dividends declared per share:
Preferred stock Dividend (in dollars per share)	$ 0		$ 0.400		$ 0.717		$ 1.200
Cumulative Convertible Preferred Stock, Series B [Member]
Cash dividends declared per share:
Preferred stock Dividend (in dollars per share)	$ 0		$ 0.315		$ 0.567		$ 0.945
Cumulative Redeemable Preferred Stock, Series E [Member]
Cash dividends declared per share:
Preferred stock Dividend (in dollars per share)	$ 0.469		$ 0		$ 0.792		$ 0

[1] The Series A and Series B preferred shares were redeemed on June 13, 2013 – See NOTE 9.