Repurchase Agreements (Tables)

9 Months Ended

Sep. 30, 2012

REPURCHASE AGREEMENTS [Abstract]

Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block]

The following tables present the components of the Company’s repurchase agreements as of September 30, 2012 and December 31, 2011 by the fair value and type of securities pledged as collateral to the repurchase agreements:

	September 30, 2012
Collateral Type	Balance			Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	2,560,779		0.41	%	$	2,665,860
Agency CMBS and CMBS IOs	634,327			0.93	%	789,792
Non-Agency RMBS	11,042			1.82	%	12,761
Non-Agency CMBS and CMBS IOs	431,039			1.39	%	540,332
Securitization financing bonds	34,549			1.67	%	36,342
Deferred fees	(764		)	n/a		n/a
	$	3,670,972		0.63	%	$	4,045,087

	December 31, 2011
Collateral Type	Balance		Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	1,447,508	0.38	%	$	1,521,107
Agency CMBS and CMBS IOs	290,362		0.59	%	329,612
Non-Agency RMBS	12,195		1.85	%	13,597
Non-Agency CMBS and CMBS IOs	283,266		1.54	%	336,124
Securitization financing bonds	60,462		1.65	%	67,872
	$	2,093,793	0.61	%	$	2,268,312

Repurchase Agreements, Original Maturity Schedule [Table Text Block]

 The following table provides a summary of the original maturities as of September 30, 2012 and December 31, 2011:

Original Maturity	September 30, 2012		December 31, 2011
30 days or less	$	1,663,679	$	180,387
31 to 60 days	898,021		880,491
61 to 90 days	472,705		496,509
Greater than 90 days	636,567		536,406
	$	3,670,972	$	2,093,793