CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Operating activities:
Net income	$ 74,955	$ 64,812
Noncash items:
Amortization of investment premiums	47,429	62,041
Amortization of equity-based awards	1,373	1,078
Other depreciation and amortization	70	86
Change in measureable hedge ineffectiveness related to interest rate swap agreements designated as cash flow hedges	55	(146)
Net change in receivables, other assets, accounts payable and accrued expenses	2,018	(1,162)
Net cash provided by operating activities	125,900	126,709
Investing activities:
Purchases of residential mortgage investments	(1,552,525)	(1,833,514)
Interest receivable acquired with the purchase of residential mortgage investments	(2,449)	(3,137)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	1,288,207	1,735,407
Net cash used in investing activities	(266,767)	(101,244)
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	67,456,237	70,818,365
Principal payments on repurchase arrangements and similar borrowings	(67,152,277)	(70,978,025)
(Increase) decrease in cash collateral receivable from interest rate swap counterparties	(20,089)	33,658
Increase in cash collateral payable to interest rate swap counterparties	0	750
Cash paid to redeem Series A & B preferred shares	0	(207,033)
Common share repurchases	0	(7,292)
Proceeds from issuance of preferred shares	13,838	164,310
Other capital stock transactions	(512)	(522)
Dividends paid	(68,786)	(67,690)
Net cash provided by (used in) financing activities	228,411	(243,479)
Net change in cash and cash equivalents	87,544	(218,014)
Cash and cash equivalents at beginning of period	413,356	425,445
Cash and cash equivalents at end of period	$ 500,900	$ 207,431