Consolidated Statements of Income (USD $) In Thousands, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Interest income:
Agency MBS	$ 15,244	$ 4,610	$ 26,762	$ 9,478
Non-Agency MBS	3,830	3,741	7,521	6,241
Securitized mortgage loans	1,961	3,355	4,180	6,978
Other investments	29	32	62	64
Cash and cash equivalents	1	2	5	5
Total interest income	21,065	11,740	38,530	22,766
Interest expense:
Repurchase agreements	4,760	1,362	8,188	2,625
Non recourse collateralized financing	1,272	2,446	2,578	5,013
Total interest expense	6,032	3,808	10,766	7,638
Net interest income	15,033	7,932	27,764	15,128
Provision for loan losses	(200)	(150)	(450)	(559)
Net interest income after provision for loan losses	14,833	7,782	27,314	14,569
Gain on sale of investments, net	742	716	742	794
Fair value adjustments, net	131	71	5	153
Other income, net	143	555	186	1,224
General and administrative expenses:
Compensation and benefits	(1,209)	(870)	(2,341)	(1,842)
Other general and administrative	(1,046)	(987)	(2,032)	(2,094)
Net income	13,594	7,267	23,874	12,804
Preferred stock dividends	0	(1,003)	0	(2,005)
Net income to common shareholders	$ 13,594	$ 6,264	$ 23,874	$ 10,799
Weighted average common shares:
Basic	40,333	15,122	36,763	14,668
Diluted	40,334	19,347	36,765	18,893
Net income per common share:
Basic	$ 0.34	$ 0.41	$ 0.65	$ 0.74
Diluted	$ 0.34	$ 0.38	$ 0.65	$ 0.68
Dividends declared per common share	$ 0.27	$ 0.23	$ 0.54	$ 0.46