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Mortgage Backed Securities Mortgage backed securities (Tables)
 3 Months Ended
Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Securities [Table Text Block]
The following table presents the components and weighted average coupon ("WAC") for the portion of the Company’s MBS designated as AFS as of March 31, 2014 and December 31, 2013:
 
March 31, 2014
 
Par
 
Net Premium (Discount)
 
Amortized Cost
 
Gross Unrealized Gain
 
Gross Unrealized Loss
 
Fair Value
 
WAC
Agency:
 
 
 
 
 
 
 
 
 
 
 
 
 
RMBS
$
2,438,133

 
$
139,899

 
$
2,578,032

 
$
6,708

 
$
(45,438
)
 
$
2,539,302

 
3.20
%
CMBS
286,931

 
19,838

 
306,769

 
11,384

 
(509
)
 
317,644

 
5.23
%
CMBS IO (1)
—

 
461,523

 
461,523

 
11,581

 
(1,859
)
 
471,245

 
0.94
%
Total Agency AFS:
2,725,064

 
621,260

 
3,346,324

 
29,673

 
(47,806
)
 
3,328,191

 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Agency:
 
 
 
 
 
 
 
 
 
 
 
 
 
RMBS
15,454

 
(7
)
 
15,447

 
209

 
(86
)
 
15,570

 
4.42
%
CMBS
375,209

 
(17,819
)
 
357,390

 
19,448

 
(842
)
 
375,996

 
5.05
%
CMBS IO (1)
—

 
209,301

 
209,301

 
3,374

 
(1,148
)
 
211,527

 
0.80
%
Total non-Agency AFS:
390,663

 
191,475

 
582,138

 
23,031

 
(2,076
)
 
603,093

 


 
 
 
 
 
 
 
 
 
 
 
 
 


Total AFS securities
$
3,115,727

 
$
812,735

 
$
3,928,462

 
$
52,704

 
$
(49,882
)
 
$
3,931,284

 
 
(1)
The notional balance for Agency CMBS IO and non-Agency CMBS IO was $10,582,484 and $5,053,884, respectively, as of March 31, 2014.

 
December 31, 2013
 
Par
 
Net Premium (Discount)
 
Amortized Cost
 
Gross Unrealized Gain
 
Gross Unrealized Loss
 
Fair Value
 
WAC
Agency:
 
 
 
 
 
 
 
 
 
 
 
 
 
RMBS
$
2,591,568

 
$
154,220

 
$
2,745,788

 
$
6,104

 
$
(59,742
)
 
$
2,692,150

 
3.22
%
CMBS
273,830

 
19,061

 
292,891

 
10,793

 
(900
)
 
302,784

 
5.07
%
CMBS IO (1)
—

 
453,766

 
453,766

 
9,895

 
(3,334
)
 
460,327

 
0.83
%
Total Agency AFS:
2,865,398

 
627,047

 
3,492,445

 
26,792

 
(63,976
)
 
3,455,261

 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Agency:
 
 
 
 
 
 
 
 
 
 
 
 
 
RMBS
13,845

 
(338
)
 
13,507

 
338

 
(80
)
 
13,765

 
4.61
%
CMBS
375,703

 
(18,277
)
 
357,426

 
15,366

 
(3,511
)
 
369,281

 
5.10
%
CMBS IO (1)
—

 
150,518

 
150,518

 
2,618

 
(1,999
)
 
151,137

 
0.66
%
Total non-Agency AFS:
389,548

 
131,903

 
521,451

 
18,322

 
(5,590
)
 
534,183

 


 
 
 
 
 
 
 
 
 
 
 
 
 


Total AFS securities
$
3,254,946

 
$
758,950

 
$
4,013,896

 
$
45,114

 
$
(69,566
)
 
$
3,989,444

 
 
(1)
The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $10,160,502 and $4,274,957, respectively, as of December 31, 2013.
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, 2014 and December 31, 2013:
 
March 31, 2014
 
December 31, 2013
 
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
$
1,563,078

 
$
(29,207
)
 
120

 
$
1,912,937

 
$
(43,543
)
 
150
Non-Agency MBS
126,578

 
(1,990
)
 
23

 
162,558

 
(5,435
)
 
39
 
 
 
 
 
 
 
 
 
 
 
 
Continuous unrealized loss position for 12 months or longer:
 
 
 
 
 
 
 
 
 
 
 
Agency MBS
$
767,744

 
$
(18,600
)
 
80

 
$
670,402

 
$
(20,433
)
 
67
Non-Agency MBS
1,676

 
(86
)
 
5

 
6,310

 
(155
)
 
6