CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011		Dec. 31, 2010
Mortgage-backed securities ("MBS"):
Agency MBS, at fair value ($6,666,963 and $5,519,879 pledged as collateral, respectively)	$ 7,137,531		$ 5,980,623
Non-Agency MBS, at fair value ($692,534 and $867,655 pledged as collateral, respectively)	1,492,376		1,372,383
Non-Agency MBS transferred to consolidated variable interest entities ("VIEs")	2,283,070	[1]	705,704	[1]
Securities obtained and pledged as collateral, at fair value	306,401
Cash and cash equivalents	394,022		345,243
Restricted cash	15,502		41,927
MBS linked transactions, net ("Linked Transactions"), at fair value	55,801		179,915
Interest receivable	42,837		38,215
Derivative hedging instruments, at fair value	26
Real estate, net			10,732
Goodwill	7,189		7,189
Prepaid and other assets	15,879		5,476
Total Assets	11,750,634		8,687,407
Liabilities:
Repurchase agreements	7,813,159		5,992,269
Securitized debt	875,520	[2]	220,933	[2]
Obligation to return securities obtained as collateral, at fair value	306,401
Accrued interest payable	9,112		8,007
Derivative hedging instruments, at fair value	114,220		139,142
Dividends and dividend equivalents rights ("DERs") payable	97,525		67,040
Accrued expenses and other liabilities	36,937		9,569
Total Liabilities	9,252,874		6,436,960
Commitments and contingencies (Note 9)
Stockholders' Equity:
Preferred stock, $.01 par value; Series A 8.50% cumulative redeemable; 5,000 shares authorized; 3,840 shares issued and outstanding ($96,000 aggregate liquidation preference)	38		38
Common stock, $.01 par value; 895,000 and 370,000 shares authorized; 356,112 and 280,481 issued and outstanding, respectively	3,561		2,805
Additional paid-in capital, in excess of par	2,795,925		2,184,493
Accumulated deficit	(243,061)		(191,569)
Accumulated other comprehensive (loss)/income	(58,703)		254,680
Total Stockholders' Equity	2,497,760		2,250,447
Total Liabilities and Stockholders' Equity	$ 11,750,634		$ 8,687,407

[1] Non-Agency MBS transferred to consolidated VIEs included in the consolidated balance sheet at December 31, 2011 and December 31, 2010 represent assets of consolidated VIEs that can be used only to settle the obligations of each respective VIE.

[2] Securitized Debt included in the consolidated balance sheet at December 31, 2011 and December 31, 2010, 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 9 and 14 for further discussion.)