Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income:
Mortgage-backed securities	$ 25,765	$ 25,207	$ 73,688	$ 79,104
Mortgage loans held for investment	331	793	1,034	2,255
Total interest income	26,096	26,000	74,722	81,359
Interest expense:
Repurchase agreements and FHLB advances	5,841	6,028	16,693	20,187
Non recourse collateralized financing	18	30	79	76
Total interest expense	5,859	6,058	16,772	20,263
Net interest income	20,237	19,942	57,950	61,096
(Loss) gain on derivative instruments, net	(52,749)	4,842	(60,982)	(31,654)
Gain (loss) on sale of investments, net	113	9,057	(70)	5,273
Fair value adjustments, net	16	42	75	162
Equity in (loss) income of limited partnership	(2)	0	731	0
Other (expense) income, net	(213)	897	(301)	1,108
General and administrative expenses:
Compensation and benefits	(2,327)	(2,351)	(6,794)	(7,232)
Other general and administrative	(2,052)	(1,563)	(6,596)	(4,620)
Net (loss) income	(36,977)	30,866	(15,987)	24,133
Preferred stock dividends	(2,294)	(2,294)	(6,882)	(6,882)
Net (loss) income to common shareholders	(39,271)	28,572	(22,869)	17,251
Change in net unrealized gain on available-for-sale investments	26,674	(6,867)	7,951	50,212
Reclassification adjustment for (gain) loss on sale of investments, net	(113)	(9,057)	70	(5,273)
Reclassification adjustment for de-designated cash flow hedges	857	1,442	2,772	5,339
Total other comprehensive income (loss)	27,418	(14,482)	10,793	50,278
Comprehensive (loss) income to common shareholders	$ (11,853)	$ 14,090	$ (12,076)	$ 67,529
Weighted average common shares - basic and diluted	52,777	54,731	54,043	54,690
Net (loss) income per common share - basic and diluted	$ (0.74)	$ 0.52	$ (0.42)	$ 0.32