Consolidated Statements of Comprehensive Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Interest income:
Mortgage-backed securities	$ 26,902	$ 32,039
Mortgage loans held for investment	738	943
Total interest income	27,640	32,982
Interest expense:
Repurchase agreements	7,611	10,218
Non recourse collateralized financing	22	238
Total interest expense	7,633	10,456
Net interest income	20,007	22,526
Provision for loan losses	0	(261)
Loss on derivative instruments, net	(13,422)	(17)
Gain on sale of investments, net	(3,307)	1,391
Fair value adjustments, net	32	(140)
Other income, net	75	(88)
General and administrative expenses:
Compensation and benefits	(2,552)	(2,358)
Other general and administrative	(1,567)	(1,450)
Net (loss) income	(734)	19,603
Preferred Stock Dividends	(2,294)	(1,222)
Net (loss) income to common shareholders	(3,028)	18,381
Change in fair value of available-for-sale securities	23,965	5,897
Reclassification adjustment for (loss) gain on sale of investments, net	(3,307)	1,391
Change in fair value of cash flow hedges	0	437
Reclassification adjustment for cash flow hedges (including de-designated hedges)	(2,288)	(4,103)
Other comprehensive income	29,560	9,046
Comprehensive income to common shareholders	$ 26,532	$ 27,427
Weighted average common shares:
Basic and diluted	54,625,601	54,300,020
Net income per common share:
Net (loss) income per common share - basic and diluted	$ (0.06)	$ 0.34