Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Mortgage-backed securities	$ 3,615,393	$ 4,018,161
Mortgage loans held for investment, net	41,454	55,423
Cash and cash equivalents	56,639	69,330
Restricted cash	32,755	13,385
Derivative assets	7,297	18,488
Receivable for securities sold	16,321	0
Principal receivable on investments	11,124	12,999
Accrued interest receivable	20,986	21,703
Other assets, net	11,542	7,648
Total assets	3,813,511	4,217,137
Liabilities:
Repurchase agreements	3,150,254	3,580,754
Payable for unsettled mortgage-backed securities	0	10,358
Non recourse collateralized financing	11,194	12,914
Derivative Liabilities	18,058	6,681
Accrued interest payable	1,492	2,548
Accrued dividends payable	15,621	16,601
Other liabilities	2,845	1,405
Total liabilities	3,199,464	3,631,261
Shareholders’ equity:
Common stock, par value $.01 per share, 200,000,000 shares authorized; 54,734,817 and 54,310,484 shares issued and outstanding, respectively	547	543
Additional paid-in capital	763,228	761,550
Accumulated other comprehensive income (loss)	16,462	(33,816)
Accumulated deficit	(275,848)	(252,059)
Total shareholders' equity	614,047	585,876
Total liabilities and shareholders’ equity	3,813,511	4,217,137
Series A Preferred Stock [Member]
Shareholders’ equity:
Preferred Stock, par value $.01 per share, 8.5% Series A Cumulative Redeemable; 8,000,000 shares authorized; 2,300,000 shares issued and outstanding ($57,500 aggregate liquidation preference)	55,407	55,407
Preferred Stock, par value $.01 per share, 7.625% Series B Cumulative Redeemable; 7,000,000 shares authorized 2,250,000 shares issued and outstanding ($56,250 aggregate liquidation preference)	55,407	55,407
Series B Preferred Stock [Member]
Shareholders’ equity:
Preferred Stock, par value $.01 per share, 8.5% Series A Cumulative Redeemable; 8,000,000 shares authorized; 2,300,000 shares issued and outstanding ($57,500 aggregate liquidation preference)	54,251	54,251
Preferred Stock, par value $.01 per share, 7.625% Series B Cumulative Redeemable; 7,000,000 shares authorized 2,250,000 shares issued and outstanding ($56,250 aggregate liquidation preference)	$ 54,251	$ 54,251