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Mortgage Backed Securities Mortgage backed securities designated as AFS (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 2,841,948   $ 2,841,948   $ 2,621,540
Available-for-sale MBS, Unamortized Premium (Discount) 862,045   862,045   868,984
Available-for-sale MBS, Amortized Cost 3,703,993   3,703,993   3,490,524
Available-for-sale MBS, Gross Unrealized Gain 50,699   50,699   48,868
Available-for-sale MBS, Gross Unrealized Loss (16,963)   (16,963)   (23,153)
Available-for-sale MBS, Fair Value 3,737,729   3,737,729   3,516,239
Available-for-sale MBS, Sale Proceeds 9,525 $ 287,609 339,332 $ 387,325  
Available-for-sale MBS, Gross Realized Gains 185 10,579 3,281 11,269  
Available-for-sale MBS, Gross Realized Losses (72) (1,522) (3,351) (5,996)  
Available-for-sale MBS, Gross Realized Gain (Loss) 113 $ 9,057 (70) $ 5,273  
RMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 1,702,814   1,702,814   2,109,239
Available-for-sale MBS, Unamortized Premium (Discount) 83,407   83,407   113,618
Available-for-sale MBS, Amortized Cost 1,786,221   1,786,221   2,222,857
Available-for-sale MBS, Gross Unrealized Gain 8,468   8,468   8,580
Available-for-sale MBS, Gross Unrealized Loss (13,174)   (13,174)   (22,289)
Available-for-sale MBS, Fair Value 1,781,515   1,781,515   2,209,148
CMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 1,139,134   1,139,134   512,301
Available-for-sale MBS, Unamortized Premium (Discount) 6,673   6,673   9,522
Available-for-sale MBS, Amortized Cost 1,145,807   1,145,807   521,823
Available-for-sale MBS, Gross Unrealized Gain 26,277   26,277   21,967
Available-for-sale MBS, Gross Unrealized Loss (2,642)   (2,642)   (555)
Available-for-sale MBS, Fair Value 1,169,442   1,169,442   543,235
CMBS IO [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 0   0   0
Available-for-sale MBS, Unamortized Premium (Discount) 771,965   771,965   745,844
Available-for-sale MBS, Amortized Cost 771,965   771,965   745,844
Available-for-sale MBS, Gross Unrealized Gain 15,954   15,954   18,321
Available-for-sale MBS, Gross Unrealized Loss (1,147)   (1,147)   (309)
Available-for-sale MBS, Fair Value 786,772   786,772   763,856
Agency MBS [Member] | RMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 1,631,942   1,631,942   2,086,807
Available-for-sale MBS, Unamortized Premium (Discount) 83,461   83,461   113,635
Available-for-sale MBS, Amortized Cost 1,715,403   1,715,403   2,200,442
Available-for-sale MBS, Gross Unrealized Gain 8,373   8,373   8,473
Available-for-sale MBS, Gross Unrealized Loss (12,903)   (12,903)   (22,215)
Available-for-sale MBS, Fair Value $ 1,710,873   $ 1,710,873   $ 2,186,700
Available-for-sale MBS, Weighted Average Coupon 3.04% [1]   3.04% [1]   3.09%
Agency MBS [Member] | CMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 943,934   $ 943,934   $ 301,943
Available-for-sale MBS, Unamortized Premium (Discount) 14,983   14,983   18,042
Available-for-sale MBS, Amortized Cost 958,917   958,917   319,985
Available-for-sale MBS, Gross Unrealized Gain 18,260   18,260   15,288
Available-for-sale MBS, Gross Unrealized Loss (1,674)   (1,674)   (76)
Available-for-sale MBS, Fair Value $ 975,503   $ 975,503   $ 335,197
Available-for-sale MBS, Weighted Average Coupon 3.44% [1]   3.44% [1]   5.21%
Agency MBS [Member] | CMBS IO [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 0 [2]   $ 0 [2]   $ 0
Available-for-sale MBS, Unamortized Premium (Discount) 409,627   409,627   426,564
Available-for-sale MBS, Amortized Cost 409,627   409,627   426,564
Available-for-sale MBS, Gross Unrealized Gain 11,593   11,593   12,252
Available-for-sale MBS, Gross Unrealized Loss (94)   (94)   (79)
Available-for-sale MBS, Fair Value $ 421,126   $ 421,126   $ 438,737
Available-for-sale MBS, Weighted Average Coupon 0.69% [1]   0.69% [1]   0.80%
Notional balance for interest only securities $ 11,452,515   $ 11,452,515   $ 10,460,113
Non-Agency MBS [Member] | RMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 70,872   70,872   22,432
Available-for-sale MBS, Unamortized Premium (Discount) (54)   (54)   (17)
Available-for-sale MBS, Amortized Cost 70,818   70,818   22,415
Available-for-sale MBS, Gross Unrealized Gain 95   95   107
Available-for-sale MBS, Gross Unrealized Loss (271)   (271)   (74)
Available-for-sale MBS, Fair Value $ 70,642   $ 70,642   $ 22,448
Available-for-sale MBS, Weighted Average Coupon 3.62% [1]   3.62% [1]   3.83%
Non-Agency MBS [Member] | CMBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 195,200   $ 195,200   $ 210,358
Available-for-sale MBS, Unamortized Premium (Discount) (8,310)   (8,310)   (8,520)
Available-for-sale MBS, Amortized Cost 186,890   186,890   201,838
Available-for-sale MBS, Gross Unrealized Gain 8,017   8,017   6,679
Available-for-sale MBS, Gross Unrealized Loss (968)   (968)   (479)
Available-for-sale MBS, Fair Value $ 193,939   $ 193,939   $ 208,038
Available-for-sale MBS, Weighted Average Coupon 3.88% [1]   3.88% [1]   4.33%
Non-Agency MBS [Member] | CMBS IO [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance [2] $ 0   $ 0    
Available-for-sale MBS, Unamortized Premium (Discount) 362,338   362,338   $ 319,280
Available-for-sale MBS, Amortized Cost 362,338   362,338   319,280
Available-for-sale MBS, Gross Unrealized Gain 4,361   4,361   6,069
Available-for-sale MBS, Gross Unrealized Loss (1,053)   (1,053)   (230)
Available-for-sale MBS, Fair Value $ 365,646   $ 365,646   $ 325,119
Available-for-sale MBS, Weighted Average Coupon 0.62% [1]   0.62% [1]   0.72%
Notional balance for interest only securities $ 10,150,326   $ 10,150,326   $ 7,868,896
Agency MBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Fair Value 513,689   513,689   322,741
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (2,460)   $ (2,460)   $ (879)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 32   32   24
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 831,652   $ 831,652   $ 1,321,323
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (12,212)   $ (12,212)   $ (21,491)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 73   73   113
Non-Agency MBS [Member]          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Fair Value $ 233,058   $ 233,058   $ 111,778
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (1,740)   $ (1,740)   $ (625)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 43   43   24
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 29,539   $ 29,539   $ 18,037
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (552)   $ (552)   $ (159)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 11   11   5
[1] The current weighted average coupon ("WAC") is the gross interest rate of the pool of mortgages underlying the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
[2] The notional balance for Agency CMBS IO and non-Agency CMBS IO was $11,452,515 and $10,150,326, respectively, as of September 30, 2015.