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Fair Value of Financial Instruments (Details) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Jun. 30, 2012
Level 3 [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Level 3 [Member]
Non-Agency CMBS [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Derivative liabilities [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Derivative liabilities [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Derivative liabilities [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Repurchase agreements [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Repurchase agreements [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Repurchase agreements [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Repurchase agreements [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-recourse collateralized financing [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-recourse collateralized financing [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-recourse collateralized financing [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-recourse collateralized financing [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Agency MBS [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Agency MBS [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Agency MBS [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Agency MBS [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-Agency CMBS and CMBS IOs [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-Agency CMBS and CMBS IOs [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-Agency CMBS and CMBS IOs [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-Agency CMBS and CMBS IOs [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-Agency RMBS [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-Agency RMBS [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Non-Agency RMBS [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Non-Agency RMBS [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Other Investments [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Other Investments [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Other Investments [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Other Investments [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Securitized mortgage loans, net [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Securitized mortgage loans, net [Member]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Securitized mortgage loans, net [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Dec. 31, 2011
Fair Value, Measurements, Recurring [Member]
Securitized mortgage loans, net [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Agency MBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Non-Agency CMBS and CMBS IOs [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Estimate of Fair Value, Fair Value Disclosure [Member]
Other Investments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Derivative liabilities [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Agency MBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Non-Agency CMBS and CMBS IOs [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
Other Investments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Derivative liabilities [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Agency MBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Non-Agency CMBS and CMBS IOs [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
Other Investments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Derivative liabilities [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Agency MBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Non-Agency CMBS and CMBS IOs [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Non-Agency RMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Other Investments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Other financial instruments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Other financial instruments [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Non-Agency CMBS [Member]
Jun. 30, 2012
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
Non-Agency CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]                                                                                                                                
Financial Instruments, Owned, Mortgages, Mortgage-backed and Asset-backed Securities, at Fair Value $ (558,966) $ (421,096)                           $ (2,979,039) $ (1,965,159) $ (2,979,039) $ (1,965,159) $ (540,858) $ (405,826) $ (540,858) $ (405,826) $ (18,108) $ (15,270) $ (18,108) $ (15,270)                   $ (2,979,039) $ (540,858) $ (18,108)       $ 0 $ 0 $ 0       $ (2,979,039) $ (436,343) $ (5,451)         $ 0 $ (104,515) $ (12,657) $ (12,657)          
Other investments                                                       933 1,018 990 892                 25           0           0               25        
Assets, Fair Value Disclosure                                                                       3,538,030         0           3,420,833           117,197 117,197                    
Derivative liabilities 39,267 27,997     27,997 39,267 27,997                                                                     0           39,267             0                  
Liabilities, Fair Value Disclosure                                                                       39,267         0           39,267           0 0                    
Securitized mortgage loans, net 89,225 113,703                                                           89,225 113,703 81,932 101,116                                                          
Repurchase agreements               3,111,924 2,093,793 3,111,924 2,093,793                                                                                                          
Non recourse collateralized financing                       31,561 70,895 30,689 69,752                                                                                                  
Fair Value Inputs, Quantitative Information [Abstract]                                                                                                                                
Fair Value Inputs, Prepayment Rate     5.00% [1] 19.00% [1]                                                                                                                        
Fair Value Inputs, Probability of Default     0.50% [1] 2.40% [1]                                                                                                                        
Fair Value Inputs, Loss Severity     9.80% [1] 33.50% [1]                                                                                                                        
Fair Value Inputs, Discount Rate     5.80% [1] 4.60% [1]                                                                                                                        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]                                                                                                                                
Balance as of March 31, 2012                                                                                                         124,482 134,024       8,627 10,296   25 25 115,830 123,703
Purchases                                                                                                         7,500 7,500       7,500 7,500   0 0 0 0
Transfers out to Level 2                                                                                                         (4,670) (4,670)       0 0   0 0 (4,670) (4,670)
Included in other comprehensive income                                                                                                         (1,439) (1,946)       48 78   0 0 (1,487) (2,024)
Principal payments                                                                                                         (8,538) (17,456)       (3,534) (5,241)   0 0 (5,004) (12,215)
Amortization                                                                                                         (138) (255)       16 24   0 0 (154) (279)
Balance as of June 30, 2012                                                                                                         $ 117,197 $ 117,197       $ 12,657 $ 12,657   $ 25 $ 25 $ 104,515 $ 104,515
[1] Data presented are weighted averages.