CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013		Dec. 31, 2012
Mortgage-backed securities ("MBS"):
Agency MBS, at fair value ($6,739,499 and $6,747,299 pledged as collateral, respectively)	$ 7,153,905		$ 7,225,460
Non-Agency MBS, at fair value ($1,851,879 and $1,602,953 pledged as collateral, respectively)	2,795,645		2,762,006
Non-Agency MBS transferred to consolidated variable interest entities ("VIEs")	2,592,632	[1]	2,620,159	[1]
Securities obtained and pledged as collateral, at fair value	408,118		408,833
Cash and cash equivalents	601,570		401,293
Restricted cash	5,017		5,016
MBS linked transactions, net ("Linked Transactions"), at fair value	12,572		12,704
Interest receivable	42,106		44,033
Derivative hedging instruments, at fair value	324		203
Goodwill	7,189		7,189
Prepaid and other assets	33,674		30,654
Total Assets	13,652,752		13,517,550
Liabilities:
Repurchase agreements	8,902,827		8,752,472
Securitized debt	542,014	[2]	646,816	[2]
Obligation to return securities obtained as collateral, at fair value	508,187		508,827
8% Senior Notes due 2042 ("Senior Notes")	100,000		100,000
Accrued interest payable	12,867		16,104
Derivative hedging instruments, at fair value	50,839		63,034
Dividends and dividend equivalents rights ("DERs") payable	259,607		72,222
Payable for unsettled purchases			33,479
Excise tax and interest payable	5,000		7,500
Accrued expenses and other liabilities	5,863		6,090
Total Liabilities	10,387,204		10,206,544
Commitments and contingencies (Note 10)
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 shares authorized; 358,419 and 357,546 issued and outstanding, respectively	3,584		3,575
Additional paid-in capital, in excess of par	2,813,878		2,805,724
Accumulated deficit	(444,324)		(260,308)
Accumulated other comprehensive income	892,372		761,977
Total Stockholders' Equity	3,265,548		3,311,006
Total Liabilities and Stockholders' Equity	$ 13,652,752		$ 13,517,550

[1] Non-Agency MBS transferred to consolidated VIEs represent assets of the consolidated VIEs that can be used only to settle the obligations of each respective VIE.

[2] Securitized Debt represents third-party liabilities of consolidated VIEs and excludes liabilities of the VIEs acquired by the Company that eliminate in consolidation. The third-party beneficial interest holders in the VIEs have no recourse to the general credit of the Company. (See Notes 9 and 15 for further discussion.)