CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Interest Income:
Agency MBS	$ 37,609		$ 38,037		$ 76,938		$ 80,824
Non-Agency MBS	43,473		43,997		86,628		85,044
Non-Agency MBS transferred to consolidated VIEs	37,543		38,601		76,207		77,469
Cash and cash equivalent investments	17		36		43		72
Interest Income	118,642		120,671		239,816		243,409
Interest Expense:
Repurchase agreements	36,690		33,397		73,419		68,072
Securitized debt	1,871		3,075		4,056		6,551
Senior Notes	2,008		2,006		4,015		4,013
Total Interest Expense	40,569		38,478		81,490		78,636
Net Interest Income	78,073		82,193		158,326		164,773
Other Income, net:
Unrealized net gains/(losses) and net interest income from Linked Transactions	3,776		(295)		7,027		1,241
Gain on sales of MBS and U.S. Treasury securities, net	7,852		4,365		11,423		5,998
Other, net	708		55		292		110
Other Income, net	12,336		4,125		18,742		7,349
Operating and Other Expense:
Compensation and benefits	5,901		5,284		12,408		10,557
Other general and administrative expense	4,546		3,561		8,510		6,741
Excise tax and interest	1,175		2,000		1,175		2,000
Other investment related operating expenses	61		0		61		0
Operating and Other Expense	11,683		10,845		22,154		19,298
Net Income	78,726		75,473		154,914		152,824
Less Preferred Stock Dividends	3,750		4,210		7,500		6,250
Less Issuance Costs of Redeemed Preferred Stock	0	[1]	3,947	[1]	0	[1]	3,947	[1]
Net Income Available to Common Stock and Participating Securities	$ 74,976		$ 67,316		$ 147,414		$ 142,627
Earnings per Common Share - Basic and Diluted (in dollars per share)	$ 0.20		$ 0.19		$ 0.40		$ 0.39
Dividends Declared per Share of Common Stock (in dollars per share)	$ 0.20		$ 0.22		$ 0.40		$ 0.94	[2]

[1] Issuance costs of redeemed preferred stock represent the original offering costs related to the Series A Preferred Stock, which was redeemed on May 16, 2013. (See Note 11)

[2] Includes a special dividend of $0.50 per share declared on March 4, 2013.