Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Interest income:
Agency MBS	$ 16,926	$ 11,518
Non-Agency MBS	7,537	3,691
Securitized mortgage loans	1,504	2,219
Other investments	305	33
Cash and cash equivalents	0	4
Total interest income	26,272	17,465
Interest expense:
Repurchase agreements	6,644	3,428
Non recourse collateralized financing	481	1,306
Total interest expense	7,125	4,734
Net interest income	19,147	12,731
Provision for loan losses	(60)	(250)
Interest Income (Expense), after Provision for Loan Loss	19,087	12,481
Gain on sale of investments, net	351	0
Fair value adjustments, net	(210)	(126)
Other income, net	369	43
General and administrative expenses:
Compensation and benefits	(1,798)	(1,132)
Other general and administrative	(1,323)	(986)
Net income	$ 16,476	$ 10,280
Weighted average common shares:
Basic	49,480	33,153
Diluted	49,481	33,157
Net income per common share:
Basic	$ 0.33	$ 0.31
Diluted	$ 0.33	$ 0.31
Dividends declared per common share	$ 0.28	$ 0.27