Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Mortgage-backed securities	$ 98,936	$ 102,881	$ 123,629
Mortgage loans held for investment	1,308	2,763	3,503
Total interest income	100,244	105,644	127,132
Interest expense:
Repurchase agreements and FHLB advances	22,507	25,821	38,102
Non-recourse collateralized financing	98	94	926
Total interest expense	22,605	25,915	39,028
Net interest income	77,639	79,729	88,104
Loss on derivative instruments, net	(43,128)	(53,393)	(10,076)
(Loss) gain on sale of investments, net	(978)	16,223	3,354
Fair value adjustments, net	69	208	(652)
Equity in income of limited partnership	835	0	0
Other (expense) income, net	(225)	1,046	397
General and administrative expenses:
Compensation and benefits	(9,103)	(9,509)	(7,004)
Other general and administrative	(8,565)	(6,498)	(6,054)
Net income	16,544	27,806	68,069
Preferred stock dividends	(9,176)	(9,176)	(7,902)
Net income to common shareholders	7,368	18,630	60,167
Change in net unrealized gain on available-for-sale investments	(38,561)	64,567	(113,343)
Reclassification adjustment for loss (gain) on sale of investments, net	978	(16,223)	(3,354)
Change in fair value of cash flow hedges	0	0	16,381
Reclassification adjustment for de-designated cash flow hedges	3,499	6,788	13,989
Total other comprehensive (loss) income	(34,084)	55,132	(86,327)
Comprehensive (loss) income to common shareholders	$ (26,716)	$ 73,762	$ (26,160)
Net income per common share - basic and diluted	$ 0.14	$ 0.34	$ 1.10
Weighted average common shares - basic and diluted	52,847	54,701	54,648