Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Mortgage-backed securities (including pledged of $3,264,828 and $3,361,635, respectively)	$ 3,328,752	$ 3,493,701
Mortgage loans held for investment, net	23,271	24,145
Investment in limited partnership	98	10,835
Investment in FHLB stock	11,475	11,475
Cash and cash equivalents	82,940	33,935
Restricted cash	86,864	51,190
Derivative assets	14,845	7,835
Principal receivable on investments	6,382	6,193
Accrued interest receivable	22,151	22,764
Other assets, net	7,310	7,975
Total assets	3,584,088	3,670,048
Liabilities:
Repurchase agreements	2,722,019	2,589,420
FHLB advances	263,000	520,000
Non-recourse collateralized financing	8,140	8,442
Derivative liabilities	90,487	41,205
Accrued interest payable	2,243	1,743
Accrued dividends payable	12,247	13,709
Other liabilities	2,153	3,504
Total liabilities	3,100,289	3,178,023
Shareholders’ equity:
Common stock, par value $.01 per share, 200,000,000 shares authorized; 49,095,797 and 49,047,335 shares issued and outstanding, respectively	491	490
Additional paid-in capital	725,438	725,358
Accumulated other comprehensive income (loss)	28,960	(12,768)
Accumulated deficit	(380,748)	(330,713)
Total shareholders' equity	483,799	492,025
Total liabilities and shareholders’ equity	3,584,088	3,670,048
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