CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Net Income	$ 316,414	$ 269,762	$ 268,189
Other Comprehensive (Loss)/Income:
Unrealized gain/(loss) on Agency MBS, net	61,149	(59,644)	210,774
Unrealized (loss)/gain on Non-Agency MBS, net	(381,410)	167,732	222,959
Reclassification adjustment for MBS sales	(7,500)	(41,459)	(3,352)
Reclassification adjustment for net losses included in net income for other-than-temporary impairments	(10,570)	(12,277)	(17,928)
Unrealized gain on derivative hedging instruments, net	24,948	13,321	84,828
Other Comprehensive (Loss)/Income	(313,383)	67,673	497,281
Comprehensive Income before preferred stock dividends	3,031	337,435	765,470
Dividends declared on preferred stock	(8,160)	(8,160)	(8,160)
Comprehensive (Loss)/Income Available to Common Stock and Participating Securities	$ (5,129)	$ 329,275	$ 757,310