CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Mortgage-backed securities (“MBS”):
Agency MBS, at fair value ($6,282,729 and $6,747,299 pledged as collateral, respectively)	$ 6,697,689		$ 7,225,460
Non-Agency MBS, at fair value ($1,837,996 and $1,602,953 pledged as collateral, respectively)	2,632,659		2,762,006
Non-Agency MBS transferred to consolidated variable interest entities (VIEs)	2,340,719	[1]	2,620,159	[1]
Securities obtained and pledged as collateral, at fair value	252,796		408,833
Cash and cash equivalents	503,852		401,293
Restricted cash	59,275		5,016
Interest receivable	37,804		44,033
Derivative Instruments:
MBS linked transactions, net (“Linked Transactions”), at fair value	23,940		12,704
Other derivative instruments, at fair value	4,629		203
Goodwill	7,189		7,189
Prepaid and other assets	38,002		30,654
Total Assets	12,598,554		13,517,550
Liabilities:
Repurchase agreements	8,568,171	[2]	8,752,472	[2]
Securitized debt	419,693	[3]	646,816	[3]
Obligation to return securities obtained as collateral, at fair value	252,796		508,827
8% Senior Notes due 2042 (“Senior Notes”)	100,000		100,000
Accrued interest payable	13,601		16,104
Other derivative instruments, at fair value	65,253		63,034
Dividends and dividend equivalents rights (“DERs”) payable	81,171		72,222
Payable for unsettled purchases	0		33,479
Excise tax and interest payable	6,208		7,500
Accrued expenses and other liabilities	18,136		6,090
Total Liabilities	9,525,029		10,206,544
Commitments and contingencies
Stockholders’ Equity:
Common stock, $.01 par value; 886,950 and 895,000 shares authorized; 365,833 and 357,546 shares issued and outstanding, respectively	3,658		3,575
Additional paid-in capital, in excess of par	2,977,190		2,805,724
Accumulated deficit	(573,065)		(260,308)
Accumulated other comprehensive income	665,662		761,977
Total Stockholders’ Equity	3,073,525		3,311,006
Total Liabilities and Stockholders’ Equity	12,598,554		13,517,550
Series A
Stockholders’ Equity:
Preferred stock, $.01 par value	0		38
Series B
Stockholders’ Equity:
Preferred stock, $.01 par value	$ 80		$ 0

[1] Non-Agency MBS transferred to consolidated VIEs represent assets of the consolidated VIEs that can be used only to settle the obligations of each respective VIE.

[2] The fair value of securities pledged against the Company’s repurchase agreements was $10.189 billion and $10.550 billion at September 30, 2013 and December 31, 2012, respectively.

[3] Securitized Debt represents third-party liabilities of consolidated VIEs and excludes liabilities of the VIEs acquired by the Company that eliminate in consolidation. The third-party beneficial interest holders in the VIEs have no recourse to the general credit of the Company. (See Notes 10 and 15 for further discussion.)