Mortgage backed securities Mortgage backed securities (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Available-for-sale Securities [Line Items]

Available-for-sale Securities [Table Text Block]

The following table presents the components of the Company’s MBS designated as AFS as of March 31, 2013 and December 31, 2012 and includes MBS pending settlement:

	March 31, 2013
	Par		Net Premium (Discount)			Amortized Cost		Net Unrealized Gain (Loss)		Fair Value		Weighted average coupon
Agency:
RMBS (including pending settlements)	$	2,732,173	$	158,205		$	2,890,378	$	4,643	$	2,895,021	3.56	%
CMBS	280,842		21,562			302,404		19,812		322,216		5.18	%
CMBS IO (1)	—		576,161			576,161		25,228		601,389		1.02	%
Total Agency AFS:	3,013,015		755,928			3,768,943		49,683		3,818,626
Non-Agency:
RMBS	10,053		(758		)	9,295		285		9,580		4.20	%
CMBS	472,650		(16,685		)	455,965		40,310		496,275		5.40	%
CMBS IO (1)	—		104,930			104,930		6,476		111,406		0.93	%
Total non-Agency AFS:	482,703		87,487			570,190		47,071		617,261
Total AFS securities (including pending settlements)	$	3,495,718	$	843,415		$	4,339,133	$	96,754	$	4,435,887

(1) The combined notional balance for Agency CMBS IO and non-Agency CMBS IO is $10,873,160 and $2,385,979, respectively, as of March 31, 2013.

	December 31, 2012
	Par		Net Premium (Discount)			Amortized Cost		Net Unrealized Gain (Loss)		Fair Value		Weighted average coupon
Agency:
RMBS	$	2,425,826	$	137,168		$	2,562,994	$	8,343	$	2,571,337	3.67	%
CMBS	280,602		21,907			302,509		21,564		324,073		5.19	%
CMBS IO (1)	—		550,171			550,171		17,009		567,180		0.95	%
Total Agency AFS:	2,706,428		709,246			3,415,674		46,916		3,462,590
Non-Agency:
RMBS	11,411		(781		)	10,630		408		11,038		4.28	%
CMBS	463,747		(17,313		)	446,434		39,908		486,342		5.31	%
CMBS IO (1)	—		108,928			108,928		5,014		113,942		0.86	%
Total non-Agency AFS:	475,158		90,834			565,992		45,330		611,322
Total AFS securities	$	3,181,586	$	800,080		$	3,981,666	$	92,246	$	4,073,912

(1) The combined notional balance for the Agency CMBS IO and non-Agency CMBS IO is $10,059,495 and $2,393,614, respectively, as of December 31, 2012.

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

The following table presents certain information for those Agency MBS in an unrealized loss position as of March 31, 2013 and December 31, 2012:

	March 31, 2013						December 31, 2012
	Fair Value		Gross Unrealized Losses			# of Securities	Fair Value		Gross Unrealized Losses			# of Securities
Continuous unrealized loss position for less than 12 months:
Agency MBS	$	1,034,706	$	(8,997	)	87	$	1,026,277	$	(6,552	)	83
Non-Agency MBS	4,480		(314		)	2	13,877		(76		)	3
Continuous unrealized loss position for 12 months or longer:
Agency MBS	$	251,664	$	(6,415	)	35	$	271,719	$	(5,797	)	34
Non-Agency MBS	2,188		(161		)	6	2,701		(198		)	8