CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities		$ 7,023,050	$ 9,828,183
Mortgage servicing rights (“MSR”) related assets ($482,158 and $226,780 pledged as collateral, respectively)		492,080	226,780
Residential whole loans, at carrying value ($448,689 and $427,880 pledged as collateral, respectively) (2)	[1]	908,516	590,540
Residential whole loans, at fair value ($996,226 and $734,331 pledged as collateral, respectively) (2)	[1]	1,325,115	814,682
Securities obtained and pledged as collateral, at fair value		504,062	510,767
Cash and cash equivalents		449,757	260,112
Restricted cash		13,307	58,463
Other assets		238,847	194,495
Total Assets		10,954,734	12,484,022
Liabilities:
Repurchase agreements and other advances		6,614,701	8,687,268
Obligation to return securities obtained as collateral, at fair value		504,062	510,767
Other liabilities		574,335	252,085
Total Liabilities		7,693,098	9,450,120
Commitments and contingencies (See Note 10)
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; 397,831 and 371,854 shares issued and outstanding, respectively		3,978	3,719
Additional paid-in capital, in excess of par		3,227,304	3,029,062
Accumulated deficit		(578,950)	(572,641)
Accumulated other comprehensive income		609,224	573,682
Total Stockholders’ Equity		3,261,636	3,033,902
Total Liabilities and Stockholders’ Equity		10,954,734	12,484,022
Non-Agency MBS Transfered to Consolidated VIEs
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
Residential whole loans, at carrying value ($448,689 and $427,880 pledged as collateral, respectively) (2)		183,200
Residential whole loans, at fair value ($996,226 and $734,331 pledged as collateral, respectively) (2)		289,300
Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities		2,824,681	3,738,497
Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities		3,533,966	5,684,836
Non-Agency MBS | Non-Agency MBS
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities	[2]	3,533,966	5,684,836
Non-Agency MBS | Non-Agency MBS Transfered to Consolidated VIEs
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities			174,400
CRT securities
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:
MBS and CRT securities		$ 664,403	$ 404,850

[1] Includes approximately $183.2 million of Residential whole loans, at carrying value and $289.3 million of Residential whole loans, at fair value transferred to consolidated VIEs at December 31, 2017. Such assets can be used only to settle the obligations of each respective VIE.

[2] Includes approximately $174.4 million of Non-Agency MBS transferred to consolidated variable interest entities (“VIEs”) at December 31, 2016. Such assets can be used only to settle the obligations of each respective VIE.