Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Operating activities:
Net (loss) income	$ (6,733)	$ 51,136
Adjustments to reconcile net income to cash provided by operating activities:
Decrease (increase) in accrued interest receivable	774	1,231
(Decrease) increase in accrued interest payable	(778)	(1,234)
Provision for loan losses	0	261
Loss on derivative instruments, net	(36,496)	11,336
Loss (gain) on sale of investments, net	(3,784)	3,422
Fair value adjustments, net	119	(740)
Amortization and depreciation	71,705	66,751
Stock-based compensation expense	1,355	1,106
Other operating activities	(598)	782
Net cash and cash equivalents provided by operating activities	105,534	101,989
Investing activities:
Purchase of investments	298,699	1,310,794
Principal payments received on investments	253,263	481,072
Proceeds from sales of investments	95,932	164,916
Principal payments received on mortgage loans held for investment, net	2,889	8,495
Net payments on derivatives not designated as hedges	5,951	436
Other investing activities	5	(142)
Net cash and cash equivalents used in investing activities	47,429	(656,605)
Financing activities:
(Repayments of) borrowings under repurchase agreements, net	(133,912)	507,056
Principal payments on non-recourse collateralized financing	(858)	(5,940)
Increase in restricted cash	17,362	0
Proceeds from issuance of preferred stock	0	54,251
Proceeds from issuance of common stock	107	7,412
Payments Related to tax withholding for share-based compensation	505	545
Dividends paid	32,926	34,084
Net cash and cash equivalents provided by (used in) financing activities	(185,456)	528,150
Net increase (decrease) in cash and cash equivalents	(32,493)	(26,466)
Cash and cash equivalents at beginning of period	69,330	55,809
Cash and cash equivalents at end of period	36,837	29,343
Supplemental Disclosure of Cash Activities:
Cash paid for interest	$ 10,861	$ 22,065