CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Interest Income:
Agency MBS	$ 53,300	$ 60,175
Non-Agency MBS	25,794	22,894
Non-Agency MBS transferred to consolidated VIEs	44,410	26,755
Cash and cash equivalent investments	19	54
Interest Income	123,523	109,878
Interest Expense:
Repurchase agreements	36,070	33,054
Securitized debt	4,057	1,599
Total Interest Expense	40,127	34,653
Net Interest Income	83,396	75,225
Other-Than-Temporary Impairments:
Total other-than-temporary impairment losses	(879)
Portion of loss reclassed from other comprehensive income	(41)
Net Impairment Losses Recognized in Earnings	(920)
Other Income:
Unrealized net gains and net interest income from Linked Transactions	7,699	14,850
Gain on sales of MBS	2,953
Revenue from operations of real estate held-for-sale		381
Other Income	10,652	15,231
Operating and Other Expense:
Compensation and benefits	5,612	5,123
Other general and administrative expense	2,803	2,161
Real estate held-for-sale operating expense		307
Operating and Other Expense	8,415	7,591
Net Income	84,713	82,865
Less: Preferred Stock Dividends	2,040	2,040
Net Income Available to Common Stock and Participating Securities	$ 82,673	$ 80,825
Earnings per Common Share - Basic and Diluted (in dollars per share)	$ 0.23	$ 0.27
Dividends Declared per Share of Common Stock (in dollars per share)	$ 0.240	$ 0.235