CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net income	$ 57,002	$ 65,423
Noncash items:
Amortization of investment premiums	98,996	95,139
Amortization of equity-based awards	1,671	1,241
Other depreciation and amortization	89	97
Change in recorded measureable hedge ineffectiveness on interest rate swap agreements designated as cash flow hedges	36	506
Net change in receivables, other assets, accounts payable and accrued expenses	1,877	(953)
Net cash provided by operating activities	159,671	161,453
Investing activities:
Purchases of residential mortgage investments	(3,380,199)	(2,319,819)
Interest receivable acquired with the purchase of residential mortgage investments	(5,410)	(3,139)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	2,972,002	2,773,344
Redemptions of lending counterparty investments		50,000
Net cash (used in) provided by investing activities	(413,607)	500,386
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	126,991,975	94,430,910
Principal payments on repurchase arrangements and similar borrowings	(126,669,933)	(92,332,463)
Proceeds from other secured borrowings		1,175,000
Principal payments on other secured borrowings		(3,800,000)
Increase in cash collateral receivable from interest rate swap counterparties	(17,590)	(22,998)
Net proceeds from interest rate swap settlements	8,842
Proceeds from issuance of preferred shares	52,051	1,167
Other capital stock transactions	(261)	(57)
Dividends paid	(74,426)	(83,886)
Net cash provided by (used in) financing activities	290,658	(632,327)
Net change in cash and cash equivalents	36,722	29,512
Cash and cash equivalents at beginning of period	56,732	54,185
Cash and cash equivalents at end of period	$ 93,454	$ 83,697