CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Interest Income:
Agency MBS	$ 49,550	$ 65,982	$ 102,850	$ 126,157
Non-Agency MBS	32,674	28,825	58,468	51,719
Non-Agency MBS transferred to consolidated VIEs	43,280	37,275	87,690	64,030
Cash and cash equivalent investments	27	27	46	81
Interest Income	125,531	132,109	249,054	241,987
Interest Expense:
Repurchase agreements	36,252	34,535	72,322	67,589
Securitized debt	4,652	2,660	8,709	4,259
Senior Notes	1,784		1,784
Interest Expense	42,688	37,195	82,815	71,848
Net Interest Income	82,843	94,914	166,239	170,139
Other-Than-Temporary Impairments:
Total other-than-temporary impairment losses		(637)	(879)	(637)
Portion of loss reclassified from other comprehensive income	(280)	(1,755)	(321)	(1,755)
Net Impairment Losses Recognized in Earnings	(280)	(2,392)	(1,200)	(2,392)
Other Income/(Loss), net:
Unrealized net gains/(losses) and net interest income from Linked Transactions	568	(5,613)	8,267	9,237
Gains on sales of MBS			2,953
Revenue from operations of real estate held-for-sale		375		756
Other, net	1	12	1	12
Other Income/(Loss), net	569	(5,226)	11,221	10,005
Operating and Other Expense:
Compensation and benefits	5,156	4,991	10,768	10,114
Other general and administrative expense	3,210	2,789	6,013	4,950
Real estate held-for-sale operating expense		230		537
Operating and Other Expense	8,366	8,010	16,781	15,601
Net Income	74,766	79,286	159,479	162,151
Less: Preferred Stock Dividends	2,040	2,040	4,080	4,080
Net Income Available to Common Stock and Participating Securities	$ 72,726	$ 77,246	$ 155,399	$ 158,071
Earnings per Common Share - Basic and Diluted (in dollars per share)	$ 0.20	$ 0.22	$ 0.43	$ 0.48
Dividends Declared per share of Common Stock (in dollars per share)	$ 0.23	$ 0.25	$ 0.47	$ 0.49