Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net loss	$ (37,431)	$ (9,472)
Adjustments to reconcile net income to cash provided by operating activities:
Decrease (increase) in accrued interest receivable	613	(1,699)
Increase in accrued interest payable	500	313
Loss on derivative instruments, net	48,264	25,323
Loss (gain) on sale of investments, net	3,941	(1,308)
Fair value adjustments, net	(24)	(39)
Amortization of investment premiums, net	37,547	36,640
Other amortization and depreciation	477	1,521
Stock-based compensation expense	829	693
Other operating activities	(1,103)	(1,014)
Net cash and cash equivalents provided by operating activities	53,613	50,958
Investing activities:
Purchase of investments	(4,970)	(386,660)
Principal payments received on investments	92,420	102,033
Proceeds from sales of investments	77,530	102,923
Principal payments received on mortgage loans held for investment, net	899	6,984
Payment to acquire interest in limited partnership	0	(6,000)
Distributions received from limited partnership	10,737	0
Net payments on derivatives, including terminations	(5,992)	(6,405)
Other investing activities	(38)	(75)
Net cash and cash equivalents provided by (used in) investing activities	170,586	(187,200)
Financing activities:
Borrowings under repurchase agreements and FHLB advances	5,403,089	4,219,094
Repayments of repurchase agreement borrowings and FHLB advances	(5,527,490)	(4,046,361)
Principal payments on non-recourse collateralized financing	(305)	(603)
Increase in restricted cash	(35,674)	(24,704)
Proceeds from issuance of common stock, net of issuance costs	47	30
Cash paid for repurchases of common stock	(310)	(131)
Payments related to tax withholding for stock-based compensation	(485)	(545)
Dividends paid	(14,066)	(15,978)
Net cash and cash equivalents (used in) provided by financing activities	(175,194)	130,802
Net increase (decrease) in cash and cash equivalents	49,005	(5,440)
Cash and cash equivalents at beginning of period	33,935	43,944
Cash and cash equivalents at end of period	82,940	38,504
Supplemental Disclosure of Cash Activities:
Cash paid for interest	$ 5,781	$ 3,989