Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net Interest Income:
Interest income	[1]	$ 201,194	$ 243,145
Interest expense	[2]	62,981	60,456
Net interest income		138,213	182,689
Other-than-temporary impairments:
Total other-than-temporary impairment losses		(4,423)	(1,052)
Portion of loss recognized in other comprehensive income		(6,255)	(6,763)
Net other-than-temporary credit impairment losses		(10,678)	(7,815)
Other investment gains (losses):
Net unrealized gains (losses) on derivatives		(101,110)	4,055
Realized gains (losses) on terminations of interest rate swaps		(458)	(68,579)
Net realized gains (losses) on derivatives		(34,969)	(42,086)
Net gains (losses) on derivatives		(136,537)	(106,610)
Net unrealized gains (losses) on financial instruments at fair value		16,871	(10,425)
Net realized gains (losses) on sales of investments		(2,674)	29,565
Gains (losses) on Extinguishment of Debt		(1,766)
Total other gains (losses)		(124,106)	(87,470)
Other income:
Other income		95,000
Total other income		95,000
Other expenses:
Management fees			10,326
Expense recoveries from Manager			(1,113)
Net management fees			9,213
Compensation and benefits		5,222	471
General and administrative expenses		4,503	4,290
Servicing Fees of consolidated VIEs		5,577	6,388
Total other expenses		15,302	20,362
Income (loss) before income taxes		83,127	67,042
Income taxes		29	1
Net income (loss)		$ 83,098	$ 67,041
Net income (loss) per share available to common shareholders:
Basic		$ 0.44	$ 0.33
Diluted		$ 0.44	$ 0.33
Weighted average number of common shares outstanding:
Basic		187,723,472	205,527,476
Diluted		187,840,182	205,566,956
Comprehensive income (loss):
Net income (loss)		$ 83,098	$ 67,041
Other comprehensive income:
Unrealized gains (losses) on available-for-sale securities, net		59,408	(19,912)
Reclassification adjustment for net losses included in net income for other-than-temporary credit impairment losses		10,678	7,815
Reclassification adjustment for net realized losses (gains) included in net income		(1,612)	(29,076)
Other comprehensive income (loss)		68,474	(41,173)
Comprehensive income (loss)		$ 151,572	$ 25,868

[1] Includes interest income of consolidated VIEs of $131,980 and $150,618 for the quarters ended March 31, 2016 and 2015 respectively. See Note 8 for further discussion.

[2] Includes interest expense of consolidated VIEs of $39,250 and $46,753 for the quarters ended March 31, 2016 and 2015 respectively. See Note 8 for further discussion.