CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income
Residential mortgage investments	$ 215,989	$ 226,749	$ 215,137
Other	341	315	322
Interest Income	216,330	227,064	215,459
Interest expense
Secured borrowings	(85,521)	(65,155)	(66,368)
Unsecured borrowings	(8,454)	(8,488)	(8,736)
Interest expense	(93,975)	(73,643)	(75,104)
Net interest income (expense)	122,355	153,421	140,355
Other revenue (expense)
Salaries and benefits	(4,392)	(4,112)	(3,962)
Short-term incentive compensation	(4,112)	(2,115)	(3,565)
Long term incentive compensation	(1,696)	(2,075)	(1,814)
Other general and administrative expense	(4,798)	(4,157)	(4,476)
Miscellaneous other revenue (expense)	968	(142)	(300)
Operating expenses	(14,030)	(12,601)	(14,117)
Income before equity in earnings of unconsolidated affiliates	108,325	140,820	126,238
Equity in earnings of unconsolidated affiliates	0	0	249
Net income	108,325	140,820	126,487
Net income available to common stockholders
Net income	108,325	140,820	126,487
Less preferred stock dividends	(15,160)	(13,781)	(17,536)
Less redemption preference premiums paid	0	0	(19,924)
Net income (loss) available to common stockholders, basic, total	$ 93,165	$ 127,039	$ 89,027
Basic and diluted net income per common share (in dollars per share)	$ 0.97	$ 1.33	$ 0.93