CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Mortgage-backed securities (“MBS”):
Mortgage-backed securities	$ 10,937,502		$ 11,371,358
Securities obtained and pledged as collateral, at fair value	442,370		383,743
Cash and cash equivalents	423,891		565,370
Restricted cash	43,751		37,520
Interest receivable	32,499		35,828
Derivative instruments:
MBS linked transactions, net (“Linked Transactions”), at fair value	190,681		28,181
Interest rate swap agreements (“Swaps”), at fair value	4,322		13,000
Goodwill	7,189		7,189
Prepaid and other assets (See Notes 2(d) and 15)	160,572		29,719
Total Assets	12,242,777		12,471,908
Liabilities:
Repurchase agreements	8,125,723	[1]	8,339,297	[1]
Securitized debt	156,276	[2]	366,205	[2]
Obligation to return securities obtained as collateral, at fair value	442,370		383,743
8% Senior Notes due 2042 (“Senior Notes”)	100,000		100,000
Accrued interest payable	12,172		14,726
Swaps, at fair value	35,493	[3]	28,217	[3]
Dividends and dividend equivalents rights (“DERs”) payable	74,126		73,643
Accrued expenses and other liabilities	42,873		23,826
Total Liabilities	8,989,033		9,329,657
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $.01 par value; 7.50% Series B cumulative redeemable; 8,050 shares authorized; 8,000 shares issued and outstanding ($200,000 aggregate liquidation preference)	80		80
Common stock, $.01 par value; 886,950 shares authorized; 368,721 and 365,125 shares issued and outstanding, respectively	3,687		3,651
Additional paid-in capital, in excess of par	3,002,549		2,972,369
Accumulated deficit	(570,106)		(571,544)
Accumulated other comprehensive income	817,534		737,695
Total Stockholders’ Equity	3,253,744		3,142,251
Total Liabilities and Stockholders’ Equity	12,242,777		12,471,908
Agency Mortgage Backed Securities
Mortgage-backed securities (“MBS”):
Mortgage-backed securities	6,174,176		6,519,221
Non-Agency Mortgage Backed Securities
Mortgage-backed securities (“MBS”):
Mortgage-backed securities	4,763,326		4,852,137
Interest receivable	17,127		18,917
Non-Agency Mortgage Backed Securities | Non-Agency MBS
Mortgage-backed securities (“MBS”):
Mortgage-backed securities	3,311,062		2,569,766
Non-Agency Mortgage Backed Securities | Non-Agency MBS Transferred to Consolidated VIEs
Mortgage-backed securities (“MBS”):
Mortgage-backed securities	$ 1,452,264	[4]	$ 2,282,371	[4]

[1] The fair value of securities pledged against the Company’s repurchase agreements was $9.595 billion and $10.116 billion at September 30, 2014 and December 31, 2013, respectively.

[2] Securitized Debt represents third-party liabilities of consolidated VIEs and excludes liabilities of the VIEs acquired by the Company that eliminate on 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.)

[3] The fair value of securities pledged against the Company’s Swaps was $67.4 million and $73.9 million at September 30, 2014 and December 31, 2013, respectively.

[4] 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.