Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income	$ (52,214)	$ 44,307
Adjustments to reconcile net income to cash provided by operating activities:
(Increase) decrease in accrued interest receivable	(5,056)	(3,094)
Increase (decrease) in accrued interest payable	2,631	1,389
Loss (gain) on derivative instruments, net	61,697	(38,354)
Loss on sale of investments, net	0	(3,775)
Fair value adjustments, net	13	(29)
Amortization of investment premiums, net	31,083	35,769
Other amortization and depreciation, net	222	312
Stock-based compensation expense	298	335
Change in other assets and liabilities, net	1,625	(2,514)
Net cash and cash equivalents provided by operating activities	40,299	41,896
Investing activities:
Purchase of investments	(1,019,100)	(321,348)
Principal payments received on investments	73,817	51,972
Proceeds from sales of investments	0	154,613
Principal payments received on mortgage loans held for investment, net	646	649
Net receipts on derivatives, including terminations	(62,382)	36,271
Other investing activities	(102)	(67)
Net cash and cash equivalents (used in) provided by investing activities	(1,007,121)	(77,910)
Financing activities:
Borrowings under repurchase agreements	32,608,826	27,508,732
Repayments of repurchase agreement borrowings	(31,623,917)	(27,460,742)
Principal payments on non-recourse collateralized financing	(242)	(234)
Proceeds from issuance of preferred stock	5,015	494
Proceeds from issuance of common stock	53,872	294
Cash paid for stock issuance costs	(185)	0
Payments related to tax withholding for stock-based compensation	(296)	(364)
Dividends paid	(22,292)	(12,982)
Net cash and cash equivalents provided by (used in) financing activities	1,020,781	35,198
Net increase (decrease) in cash, cash equivalents, and restricted cash	53,959	(816)
Cash, cash equivalents, and restricted cash at beginning of period	88,704	87,200
Cash, cash equivalents, and restricted cash at end of period	142,663	86,384
Supplemental Disclosure of Cash Activity:
Cash paid for interest	$ 23,807	$ 10,251