Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Net income (loss)	$ 9,051	$ (37,431)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
(Increase) decrease in accrued interest receivable	(2,453)	613
(Decrease) increase in accrued interest payable	(528)	500
(Gain) loss on derivative instruments, net	(175)	48,264
Loss on sale of investments, net	(1,708)	(3,941)
Fair value adjustments, net	(10)	(24)
Amortization of investment premiums, net	39,862	37,547
Other amortization and depreciation, net	325	477
Stock-based compensation expense	538	829
Decrease in other assets and liabilities, net	(1,210)	(1,112)
Net cash and cash equivalents provided by operating activities	47,108	53,604
Investing activities:
Purchase of investments	(141,436)	(4,970)
Principal payments received on investments	95,546	92,420
Proceeds from sales of investments	57,173	77,530
Principal payments received on mortgage loans held for investment, net	987	899
Distributions received from limited partnership	0	10,737
Net payments on derivatives, including terminations	21,573	(5,992)
Other investing activities	(146)	(38)
Net cash and cash equivalents provided by investing activities	33,697	170,586
Financing activities:
Borrowings under repurchase agreements	21,748,733	5,403,089
Repayments of repurchase agreement borrowings and FHLB advances	(21,821,740)	(5,527,490)
Principal payments on non-recourse collateralized financing	(370)	(305)
Increase in Restricted Cash	10,053	35,674
Proceeds from issuance of preferred stock	7,504	0
Proceeds from issuance of common stock	127	56
Cash paid for stock issuance costs	(36)	0
Payments related to tax withholding for stock-based compensation	0	(310)
Payments related to tax withholding for stock-based compensation	(521)	(485)
Dividends paid	(12,626)	(14,066)
Net cash and cash equivalents used in financing activities	(88,982)	(175,185)
Net increase in cash and cash equivalents	(8,177)	49,005
Cash and cash equivalents at beginning of period	74,120	33,935
Cash and cash equivalents at end of period	65,943	82,940
Supplemental Disclosure of Cash Activity:
Cash paid for interest	$ 8,141	$ 5,781