CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities:
Net income	$ 78,070	$ 82,173
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of MBS	(9,745)	(6,435)
(Gain)/loss on sales of real estate owned	509	(26)
Other-than-temporary impairment charges	0	407
Accretion of purchase discounts on MBS and CRT securities and residential whole loans	(22,083)	(25,254)
Amortization of purchase premiums on MBS	8,143	9,122
Depreciation and amortization on real estate, fixed assets and other assets	272	115
Equity-based compensation expense	1,134	912
Unrealized gain on residential whole loans at fair value	(6,226)	(602)
Increase in other assets	(6,259)	(13,910)
(Decrease)/increase in other liabilities	(3,798)	4,693
Net cash provided by operating activities	38,999	51,247
Cash Flows From Investing Activities:
Principal payments on MBS and CRT securities	807,349	588,088
Proceeds from sales of MBS	32,034	10,845
Purchases of MBS and CRT securities	(375,404)	(518,127)
Purchases of residential whole loans and capitalized advances	(165,510)	(40,168)
Principal payments on residential whole loans	21,666	6,260
Proceeds from sales of real estate owned	6,157	581
Redemption of Federal Home Loan Bank stock	10,475	0
Additions to leasehold improvements, furniture and fixtures	(56)	(158)
Net cash provided by investing activities	336,711	47,321
Cash Flows From Financing Activities:
Principal payments on repurchase agreements and other advances	(19,776,510)	(23,325,613)
Proceeds from borrowings under repurchase agreements and other advances	19,532,131	23,348,218
Principal payments on securitized debt	(10,133)	(19,186)
Payments made for margin calls on repurchase agreements and interest rate swap agreements (“Swaps”)	(117,800)	(98,000)
Proceeds from reverse margin calls on repurchase agreements and Swaps	55,700	60,000
Proceeds from issuances of common stock	306	312
Dividends paid on preferred stock	(3,750)	(3,750)
Dividends paid on common stock and dividend equivalents	(74,425)	(74,269)
Net cash used in financing activities	(394,481)	(112,288)
Net decrease in cash and cash equivalents	(18,771)	(13,720)
Cash and cash equivalents at beginning of period	165,007	182,437
Cash and cash equivalents at end of period	146,236	168,717
Non-cash Investing and Financing Activities:
MBS and CRT securities recorded upon adoption of revised accounting standard for repurchase agreement financing	0	1,917,813
Repurchase agreements recorded upon adoption of revised accounting standard for repurchase agreement financing	0	1,519,593
Net (decrease)/increase in securities obtained as collateral/obligation to return securities obtained as collateral	(5,175)	20,990
Transfer from residential whole loans to real estate owned	22,280	3,448
Dividends and dividend equivalents declared and unpaid	$ 74,583	$ 74,581