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Mortgage Backed Securities Mortgage backed securities designated as AFS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance $ 2,635,705 $ 2,621,540  
Available-for-sale MBS, Unamortized Premium (Discount) 870,102 868,984  
Available-for-sale MBS, Amortized Cost 3,505,807 3,490,524  
Available-for-sale MBS, Gross Unrealized Gain 29,927 48,868  
Available-for-sale MBS, Gross Unrealized Loss (42,033) (23,153)  
Available-for-sale MBS, Fair Value 3,493,701 3,516,239  
Available-for-sale MBS, Sale Proceeds 449,921 503,918 $ 357,892
Available-for-sale MBS, Gross Realized Gains 3,552 22,492 8,670
Available-for-sale MBS, Gross Realized Losses (4,530) (6,269) (5,316)
Available-for-sale MBS, Gross Realized Gain (Loss) (978) 16,223 $ 3,354
RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance 1,602,736 2,109,239  
Available-for-sale MBS, Unamortized Premium (Discount) 77,572 113,618  
Available-for-sale MBS, Amortized Cost 1,680,308 2,222,857  
Available-for-sale MBS, Gross Unrealized Gain 4,432 8,580  
Available-for-sale MBS, Gross Unrealized Loss (21,008) (22,289)  
Available-for-sale MBS, Fair Value 1,663,732 2,209,148  
CMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance 1,032,969 512,301  
Available-for-sale MBS, Unamortized Premium (Discount) 5,119 9,522  
Available-for-sale MBS, Amortized Cost 1,038,088 521,823  
Available-for-sale MBS, Gross Unrealized Gain 17,581 21,967  
Available-for-sale MBS, Gross Unrealized Loss (15,555) (555)  
Available-for-sale MBS, Fair Value 1,040,114 543,235  
CMBS IO [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance 0 0  
Available-for-sale MBS, Unamortized Premium (Discount) 787,411 745,844  
Available-for-sale MBS, Amortized Cost 787,411 745,844  
Available-for-sale MBS, Gross Unrealized Gain 7,914 18,321  
Available-for-sale MBS, Gross Unrealized Loss (5,470) (309)  
Available-for-sale MBS, Fair Value 789,855 763,856  
Agency MBS [Member] | RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance 1,536,733 2,086,807  
Available-for-sale MBS, Unamortized Premium (Discount) 77,617 113,635  
Available-for-sale MBS, Amortized Cost 1,614,350 2,200,442  
Available-for-sale MBS, Gross Unrealized Gain 4,362 8,473  
Available-for-sale MBS, Gross Unrealized Loss (20,190) (22,215)  
Available-for-sale MBS, Fair Value $ 1,598,522 $ 2,186,700  
Available-for-sale MBS, Weighted Average Coupon 3.03% [1] 3.09%  
Agency MBS [Member] | CMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance $ 876,751 $ 301,943  
Available-for-sale MBS, Unamortized Premium (Discount) 13,252 18,042  
Available-for-sale MBS, Amortized Cost 890,003 319,985  
Available-for-sale MBS, Gross Unrealized Gain 10,542 15,288  
Available-for-sale MBS, Gross Unrealized Loss (14,614) (76)  
Available-for-sale MBS, Fair Value $ 885,931 $ 335,197  
Available-for-sale MBS, Weighted Average Coupon 3.45% [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  
Available-for-sale MBS, Unamortized Premium (Discount) 421,857 426,564  
Available-for-sale MBS, Amortized Cost 421,857 426,564  
Available-for-sale MBS, Gross Unrealized Gain 5,922 12,252  
Available-for-sale MBS, Gross Unrealized Loss (1,651) (79)  
Available-for-sale MBS, Fair Value $ 426,128 $ 438,737  
Available-for-sale MBS, Weighted Average Coupon 0.80% [1] 0.80%  
Notional balance for interest only securities $ 12,180,291 $ 10,460,113  
Non-Agency MBS [Member] | RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance 66,003 22,432  
Available-for-sale MBS, Unamortized Premium (Discount) (45) (17)  
Available-for-sale MBS, Amortized Cost 65,958 22,415  
Available-for-sale MBS, Gross Unrealized Gain 70 107  
Available-for-sale MBS, Gross Unrealized Loss (818) (74)  
Available-for-sale MBS, Fair Value $ 65,210 $ 22,448  
Available-for-sale MBS, Weighted Average Coupon 3.25% [1] 3.83%  
Non-Agency MBS [Member] | CMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Available-for-sale MBS, Par Balance $ 156,218 $ 210,358  
Available-for-sale MBS, Unamortized Premium (Discount) (8,133) (8,520)  
Available-for-sale MBS, Amortized Cost 148,085 201,838  
Available-for-sale MBS, Gross Unrealized Gain 7,039 6,679  
Available-for-sale MBS, Gross Unrealized Loss (941) (479)  
Available-for-sale MBS, Fair Value $ 154,183 $ 208,038  
Available-for-sale MBS, Weighted Average Coupon 4.29% [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    
Available-for-sale MBS, Unamortized Premium (Discount) 365,554 $ 319,280  
Available-for-sale MBS, Amortized Cost 365,554 319,280  
Available-for-sale MBS, Gross Unrealized Gain 1,992 6,069  
Available-for-sale MBS, Gross Unrealized Loss (3,819) (230)  
Available-for-sale MBS, Fair Value $ 363,727 $ 325,119  
Available-for-sale MBS, Weighted Average Coupon 0.71% [1] 0.72%  
Notional balance for interest only securities $ 10,328,628 $ 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 1,332,849 322,741  
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (19,062) $ (879)  
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 109 24  
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 775,484 $ 1,321,323  
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (17,393) $ (21,491)  
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 72 113  
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 $ 351,650 $ 111,778  
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (5,347) $ (625)  
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 72 24  
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 8,306 $ 18,037  
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (231) $ (159)  
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 7 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 $12,180,291 and $10,328,628, respectively, as of December 31, 2015.