Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net loss	$ (25,962)	$ (15,987)
Adjustments to reconcile net loss to cash provided by operating activities:
Decrease in accrued interest receivable	3,263	241
Increase (decrease) in accrued interest payable	420	(409)
Loss on derivative instruments, net	62,153	60,982
Loss on sale of investments, net	4,238	70
Fair value adjustments, net	(86)	(75)
Amortization of investment premiums, net	112,418	114,398
Other amortization and depreciation, net	1,186	4,143
Stock-based compensation expense	2,066	2,220
Other operating activities	(2,060)	(3,064)
Net cash and cash equivalents provided by operating activities	157,636	162,519
Investing activities:
Purchase of investments	(96,816)	(1,066,461)
Principal payments received on investments	337,719	384,063
Proceeds from sales of investments	94,033	339,332
Principal payments received on mortgage loans held for investment, net	3,709	12,241
Payment to acquire interest in limited partnership	0	(6,000)
Distributions received from limited partnership	10,835	0
Net payments on derivatives, including terminations	(24,483)	(37,502)
Other investing activities	(105)	(134)
Net cash and cash equivalents provided by (used in) investing activities	324,892	(374,461)
Financing activities:
Borrowings under repurchase agreements and FHLB advances	19,293,243	17,329,870
Repayments of repurchase agreement borrowings and FHLB advances	(19,661,384)	(17,032,911)
Principal payments on non-recourse collateralized financing	(1,443)	(2,249)
Increase in restricted cash	(33,495)	(35,916)
Proceeds from issuance of common stock	102	129
Payments related to tax withholding for stock-based compensation	(310)	(31,051)
Payments related to tax withholding for stock-based compensation	(485)	(556)
Dividends paid	(39,285)	(46,682)
Net cash and cash equivalents (used in) provided by financing activities	(443,057)	180,634
Net increase in cash and cash equivalents	39,471	(31,308)
Cash and cash equivalents at beginning of period	33,935	43,944
Cash and cash equivalents at end of period	73,406	12,636
Supplemental Disclosure of Cash Activity:
Cash paid for interest	$ 18,185	$ 14,366