CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities		$ 10,277,990	$ 11,356,643
Securities obtained and pledged as collateral, at fair value		506,182	507,443
Residential whole loans, at carrying value ($273,419 and $93,692 pledged as collateral, respectively)		550,623	271,845
Residential whole loans, at fair value ($618,416 and $585,971 pledged as collateral, respectively)		797,191	623,276
Cash and cash equivalents		288,698	165,007
Restricted cash		122,656	71,538
Other assets		208,049	166,799
Total Assets		12,751,389	13,162,551
Liabilities:
Repurchase agreements and other advances		8,697,756	9,387,622
Obligation to return securities obtained as collateral, at fair value		506,182	507,443
8% Senior Notes due 2042 (“Senior Notes”)		96,724	96,697
Payable for unsettled residential whole loans purchases		203,960	0
Other liabilities	[1]	213,329	203,528
Total Liabilities		9,717,951	10,195,290
Commitments and contingencies (See Note 11)
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; 371,083 and 370,584 shares issued and outstanding, respectively		3,711	3,706
Additional paid-in capital, in excess of par		3,023,033	3,019,956
Accumulated deficit		(566,917)	(572,332)
Accumulated other comprehensive income		573,531	515,851
Total Stockholders’ Equity		3,033,438	2,967,261
Total Liabilities and Stockholders’ Equity		12,751,389	13,162,551
Securitized debt		0	21,868
Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities		4,021,535	4,752,244
Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities		5,908,815	6,420,817
Non-Agency MBS | Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities		5,721,796	5,822,519
Non-Agency MBS | Non-Agency MBS Transferred to Consolidated VIEs
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities	[2]	187,019	598,298
CRT securities
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Mortgage-backed securities and credit risk transfer securities		$ 347,640	$ 183,582

[1] Other liabilities includes $21.9 million of Securitized debt at December 31, 2015. 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 16 for further discussion.)

[2] 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.