Mortgage Backed Securities Mortgage backed securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2013 and December 31, 2012:

	June 30, 2013
	Par		Net Premium (Discount)			Amortized Cost		Net Unrealized Gain (Loss)			Fair Value		Weighted average coupon
Agency:
RMBS	$	2,966,661	$	170,225		$	3,136,886	$	(52,519	)	$	3,084,367	3.34	%
CMBS	281,095		21,438			302,533		10,743			313,276		5.20	%
CMBS IO (1)	—		540,484			540,484		9,705			550,189		0.87	%
Total Agency AFS:	3,247,756		732,147			3,979,903		(32,071		)	3,947,832
Non-Agency:
RMBS	12,315		(352		)	11,963		101			12,064		4.64	%
CMBS	448,973		(18,436		)	430,537		9,238			439,775		5.33	%
CMBS IO (1)	—		128,428			128,428		2,190			130,618		0.87	%
Total non-Agency AFS:	461,288		109,640			570,928		11,529			582,457
Total AFS securities	$	3,709,044	$	841,787		$	4,550,831	$	(20,542	)	$	4,530,289

(1) The combined notional balance for Agency CMBS IO and non-Agency CMBS IO is $10,641,141 and $2,821,042, respectively, as of June 30, 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 June 30, 2013 and December 31, 2012:

	June 30, 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	$	2,687,758	$	(54,626	)	212	$	1,026,277	$	(6,552	)	83
Non-Agency MBS	148,060		(7,684		)	22	13,877		(76		)	3
Continuous unrealized loss position for 12 months or longer:
Agency MBS	$	255,924	$	(8,915	)	44	$	271,719	$	(5,797	)	34
Non-Agency MBS	1,996		(156		)	6	2,701		(198		)	8