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Repurchase Agreements and Other Advances (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Sep. 30, 2016
Repurchase Agreements      
Unamortized debt issuance expense $ 210 $ 1,300  
Total repurchase agreements less debt issuance costs $ 8,472,268    
Repurchase agreements      
Repurchase Agreements      
Weighted average remaining term-to-interest rate reset of borrowings under repurchase agreements 19 days 21 days  
Effective repricing period 12 months 18 months  
Repurchase agreements $ 8,472,478 $ 7,888,902 $ 8,472,478
Unamortized debt issuance expense 210 1,280  
Total repurchase agreements less debt issuance costs $ 8,472,268 $ 7,887,622  
Weighted Average Interest Rate 1.79% 1.48%  
Repurchase agreements | Within 30 days      
Repurchase Agreements      
Repurchase agreements $ 7,284,062 $ 7,054,483  
Weighted Average Interest Rate 1.77% 1.44%  
Repurchase agreements | Over 30 days to 3 months      
Repurchase Agreements      
Repurchase agreements $ 1,188,416 $ 734,955  
Weighted Average Interest Rate 1.91% 1.79%  
Repurchase agreements | Over 3 months to 12 months      
Repurchase Agreements      
Repurchase agreements $ 0 $ 99,464  
Weighted Average Interest Rate 0.00% 2.36%  
Repurchase agreements | Agency MBS      
Repurchase Agreements      
Repurchase agreements $ 3,095,020 $ 2,727,542 3,095,020
Fair Value of assets pledged as collateral under repurchase agreements $ 3,280,689 $ 2,881,049  
Weighted average haircut rate 4.67% 4.67%  
Repurchase agreements | Non-Agency MBS      
Repurchase Agreements      
Repurchase agreements $ 1,690,937 $ 1,960,222 1,690,937
Fair Value of assets pledged as collateral under repurchase agreements $ 2,317,708 $ 2,818,968  
Weighted average haircut rate 24.01% 25.84%  
Non-Agency MBS acquired from consolidated VIEs $ 172,400 $ 570,500  
Repurchase agreements | 3 Year Step-up securities      
Repurchase Agreements      
Repurchase agreements 2,078,684 2,080,163 2,078,684
Fair Value of assets pledged as collateral under repurchase agreements $ 2,660,491 $ 2,625,866  
Weighted average haircut rate 22.28% 21.05%  
Repurchase agreements | U.S. Treasuries      
Repurchase Agreements      
Repurchase agreements $ 504,572 $ 504,760 504,572
Fair Value of assets pledged as collateral under repurchase agreements $ 510,767 $ 507,443  
Weighted average haircut rate 1.60% 1.60%  
Repurchase agreements | CRT securities      
Repurchase Agreements      
Repurchase agreements $ 271,205 $ 128,465 271,205
Fair Value of assets pledged as collateral under repurchase agreements $ 357,488 $ 170,352  
Weighted average haircut rate 23.22% 25.04%  
Repurchase agreements | Residential whole loans      
Repurchase Agreements      
Repurchase agreements $ 832,060 $ 487,750 $ 832,060
Fair Value of assets pledged as collateral under repurchase agreements $ 1,175,088 $ 684,136  
Weighted average haircut rate 25.03% 27.69%