CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Residential mortgage investments ($12.59 and $12.98 billion pledged at March 31, 2018 and December 31, 2017, respectively)	$ 13,052,071	$ 13,454,098
Cash collateral receivable from interest rate swap counterparties	36,586	42,506
Interest rate swap agreements at fair value	387
Cash and cash equivalents	89,915	103,907
Receivables and other assets	113,565	132,938
Total assets	13,292,524	13,733,449
Liabilities
Secured borrowings	11,944,841	12,331,060
Interest rate swap agreements at fair value	18,265	23,772
Unsecured borrowings	98,216	98,191
Common stock dividend payable	15,069	18,487
Accounts payable and accrued expenses	23,905	23,063
Total liabilities	12,100,296	12,494,573
Stockholders’ equity
Preferred stock - $0.10 par value; 100,000 shares authorized: 7.50% Cumulative Redeemable Preferred Stock, Series E, 10,329 shares issued and outstanding ($258,226 aggregate liquidation preference) at March 31, 2018 and December 31, 2017	250,946	250,946
Common stock - $0.01 par value; 250,000 shares authorized: 92,494 and 95,698 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	925	957
Paid-in capital	1,242,573	1,271,425
Accumulated deficit	(346,570)	(346,570)
Accumulated other comprehensive income	44,354	62,118
Total stockholders' equity	1,192,228	1,238,876
Total liabilities and equity	$ 13,292,524	$ 13,733,449