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Mortgage Backed Securities Mortgage backed securities designated as AFS (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 2,073,287   $ 2,073,287   $ 2,422,883
Available-for-sale MBS, Net Premium (Discount) 791,190   791,190   822,084
Available-for-sale MBS, Amortized Cost 2,864,477   2,864,477   3,244,967
Available-for-sale MBS, Gross Unrealized Gain 23,431   23,431   19,643
Available-for-sale MBS, Gross Unrealized Loss (23,882)   (23,882)   (52,526)
Available-for-sale MBS, Fair Value 2,864,026   2,864,026   3,212,084
Available-for-sale MBS, Sale Proceeds 342,310 $ 10,287 399,474 $ 87,818  
Available-for-sale MBS, Gross Realized Gain (Loss) 3,709 (297) (5,417) (4,238)  
CMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 1,357,116   1,357,116   1,232,053
Available-for-sale MBS, Net Premium (Discount) 9,255   9,255   7,150
Available-for-sale MBS, Amortized Cost 1,366,371   1,366,371   1,239,203
Available-for-sale MBS, Gross Unrealized Gain 9,306   9,306   11,676
Available-for-sale MBS, Gross Unrealized Loss (15,492)   (15,492)   (28,108)
Available-for-sale MBS, Fair Value 1,360,185   1,360,185   1,222,771
CMBS IO          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 0   0   0
Available-for-sale MBS, Net Premium (Discount) 752,861   752,861   757,892
Available-for-sale MBS, Amortized Cost 752,861   752,861   757,892
Available-for-sale MBS, Gross Unrealized Gain 12,120   12,120   5,071
Available-for-sale MBS, Gross Unrealized Loss (900)   (900)   (8,417)
Available-for-sale MBS, Fair Value 764,081   764,081   754,546
RMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 716,171   716,171   1,190,830
Available-for-sale MBS, Net Premium (Discount) 29,074   29,074   57,042
Available-for-sale MBS, Amortized Cost 745,245   745,245   1,247,872
Available-for-sale MBS, Gross Unrealized Gain 2,005   2,005   2,896
Available-for-sale MBS, Gross Unrealized Loss (7,490)   (7,490)   (16,001)
Available-for-sale MBS, Fair Value 739,760   739,760   1,234,767
Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Fair Value 1,254,502   1,254,502   1,738,094
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (20,694)   $ (20,694)   $ (38,469)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 101   101   133
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 186,382   $ 186,382   $ 427,405
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (2,584)   $ (2,584)   $ (8,952)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 28   28   72
Agency MBS | CMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 1,315,974   $ 1,315,974   $ 1,152,586
Available-for-sale MBS, Net Premium (Discount) 14,110   14,110   13,868
Available-for-sale MBS, Amortized Cost 1,330,084   1,330,084   1,166,454
Available-for-sale MBS, Gross Unrealized Gain 6,026   6,026   6,209
Available-for-sale MBS, Gross Unrealized Loss (15,492)   (15,492)   (28,108)
Available-for-sale MBS, Fair Value $ 1,320,618   $ 1,320,618   $ 1,144,555
Available-for-sale MBS, Weighted Average Coupon [1] 3.04%   3.04%   3.12%
Available-for-sale MBS, Sale Proceeds $ 24,305   $ 24,305    
Available-for-sale Securities MBS, Gross Realized Gains     574    
Agency MBS | CMBS IO          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 0 [2]   0 [2]   $ 0 [3]
Available-for-sale MBS, Net Premium (Discount) 413,368   413,368   411,737
Available-for-sale MBS, Amortized Cost 413,368   413,368   411,737
Available-for-sale MBS, Gross Unrealized Gain 6,719   6,719   3,523
Available-for-sale MBS, Gross Unrealized Loss (322)   (322)   (3,362)
Available-for-sale MBS, Fair Value $ 419,765   $ 419,765   $ 411,898
Available-for-sale MBS, Weighted Average Coupon [1] 0.63%   0.63%   0.67%
Notional balance for interest only securities $ 14,248,128   $ 14,248,128   $ 13,106,912
Agency MBS | RMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 715,015   715,015   1,157,258
Available-for-sale MBS, Net Premium (Discount) 29,074   29,074   57,066
Available-for-sale MBS, Amortized Cost 744,089   744,089   1,214,324
Available-for-sale MBS, Gross Unrealized Gain 1,959   1,959   2,832
Available-for-sale MBS, Gross Unrealized Loss (7,464)   (7,464)   (15,951)
Available-for-sale MBS, Fair Value $ 738,584   $ 738,584   $ 1,201,205
Available-for-sale MBS, Weighted Average Coupon [1] 2.98%   2.98%   3.05%
Available-for-sale MBS, Sale Proceeds $ 265,893 10,287 $ 323,057 54,178  
Available-for-sale MBS, Gross Realized Losses (5,524) $ (297) (7,232) (3,010)  
Non-Agency MBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Fair Value 19,542   19,542   $ 205,484
Available-for-sale MBS, Continuous Unrealized Loss Position for less than 12 months, Accumulated Loss $ (154)   $ (154)   $ (2,773)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for less than 12 months 3   3   48
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Fair Value $ 40,122   $ 40,122   $ 81,660
Available-for-sale MBS, Continuous Unrealized Loss Position for 12 months or longer, Accumulated Loss $ (450)   $ (450)   $ (2,332)
Available-for-sale MBS, Number of Securities in Continuous Unrealized Loss Position for 12 months or longer 16   16   26
Non-Agency MBS | CMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance $ 41,142   $ 41,142   $ 79,467
Available-for-sale MBS, Net Premium (Discount) (4,855)   (4,855)   (6,718)
Available-for-sale MBS, Amortized Cost 36,287   36,287   72,749
Available-for-sale MBS, Gross Unrealized Gain 3,280   3,280   5,467
Available-for-sale MBS, Gross Unrealized Loss 0   0   0
Available-for-sale MBS, Fair Value $ 39,567   $ 39,567   $ 78,216
Available-for-sale MBS, Weighted Average Coupon [1] 5.53%   5.53%   4.72%
Available-for-sale MBS, Sale Proceeds $ 35,705   $ 35,705 33,640  
Available-for-sale MBS, Gross Realized Losses       $ (1,228)  
Available-for-sale Securities MBS, Gross Realized Gains 1,199   1,199    
Non-Agency MBS | CMBS IO          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance [2] 0   0    
Available-for-sale MBS, Net Premium (Discount) 339,493   339,493   $ 346,155
Available-for-sale MBS, Amortized Cost 339,493   339,493   346,155
Available-for-sale MBS, Gross Unrealized Gain 5,401   5,401   1,548
Available-for-sale MBS, Gross Unrealized Loss (578)   (578)   (5,055)
Available-for-sale MBS, Fair Value $ 344,316   $ 344,316   $ 342,648
Available-for-sale MBS, Weighted Average Coupon [1] 0.62%   0.62%   0.61%
Notional balance for interest only securities $ 11,126,737   $ 11,126,737   $ 10,884,964
Non-Agency MBS | RMBS          
Schedule of Available-for-sale Securities [Line Items]          
Available-for-sale MBS, Par Balance 1,156   1,156   33,572
Available-for-sale MBS, Net Premium (Discount) 0   0   (24)
Available-for-sale MBS, Amortized Cost 1,156   1,156   33,548
Available-for-sale MBS, Gross Unrealized Gain 46   46   64
Available-for-sale MBS, Gross Unrealized Loss (26)   (26)   (50)
Available-for-sale MBS, Fair Value $ 1,176   $ 1,176   $ 33,562
Available-for-sale MBS, Weighted Average Coupon [1] 6.75%   6.75%   3.58%
Available-for-sale MBS, Sale Proceeds $ 16,407   $ 16,407    
Available-for-sale Securities MBS, Gross Realized Gains $ 42   $ 42    
[1] The weighted average coupon ("WAC") is the gross interest rate of the pool of mortgages underlying the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
[2] The notional balance for Agency CMBS IO and non-Agency CMBS IO was $14,248,128 and $11,126,737, respectively, as of June 30, 2017.
[3] The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $13,106,912 and $10,884,964, respectively, as of December 31, 2016.