CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities:
Net (loss) income	$ (71,206)	$ 32,408
Noncash items:
Amortization of investment premiums	36,399	55,939
Amortization of equity-based awards	1,779	842
Amortization of unrealized gain on de-designated hedges	(9,735)
Realized loss on sale of mortgage investments	1,365
Unrealized loss on derivative instruments (net)	85,625
Other depreciation and amortization	54	53
Net change in receivables, other assets, accounts payable and accrued expenses	16,608	(6,082)
Net cash provided by operating activities	60,889	83,160
Investing activities:
Purchases of residential mortgage investments	(1,538,636)	(1,415,579)
Proceeds from sales of residential mortgage investments	303,991
Interest receivable acquired with the purchase of residential mortgage investments	(3,293)	(2,704)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	1,705,959	1,721,856
Redemption of lending counterparty investments	5,000
Net cash provided by investing activities	473,021	303,573
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	71,904,683	96,246,580
Principal payments on repurchase arrangements and similar borrowings	(72,141,471)	(96,640,768)
(Decrease) increase in cash collateral receivable from interest rate swap counterparties	(39,076)	8,876
Net (payments on) proceeds from interest rate swap settlements	(115,279)	24,222
Common stock repurchases		(29,472)
Other capital stock transactions	(106)	(72)
Dividends paid	(23,472)	(42,603)
Net cash used in financing activities	(414,721)	(433,237)
Net change in cash and cash equivalents	119,189	(46,504)
Cash and cash equivalents at beginning of period	60,289	103,907
Cash and cash equivalents at end of period	$ 179,478	$ 57,403