CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net (loss) income	$ (68,010)	$ 41,088
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Amortization of investment premiums	55,210	88,293
Amortization of equity-based awards	2,048	1,477
Amortization of unrealized gain on de-designated hedges	(12,854)
Loss on sale of mortgage investments	1,365
Loss on derivative instruments (net)	124,539
Other depreciation and amortization	81	79
Net change in receivables, other assets, accounts payable and accrued expenses	12,193	6,461
Net cash provided by operating activities	114,572	137,398
Investing activities:
Purchases of residential mortgage investments	(2,306,131)	(2,158,970)
Proceeds from sales of residential mortgage investments	303,991
Interest receivable acquired with the purchase of residential mortgage investments	(4,695)	(4,167)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	2,744,563	2,739,267
Redemption of lending counterparty investments	5,000
Net cash provided by investing activities	742,728	576,130
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	104,814,630	137,810,441
Principal payments on repurchase arrangements and similar borrowings	(105,501,068)	(138,521,532)
(Increase) decrease in cash collateral receivable from derivative counterparties	(51,714)	16,213
Net (payments on) proceeds from derivative settlements	(147,791)	10,906
Common stock repurchases		(41,313)
Issuance of common stock	75,195
Other capital stock transactions	(106)	(72)
Dividends paid	(38,531)	(60,353)
Net cash used in financing activities	(849,385)	(785,710)
Net change in cash and cash equivalents	7,915	(72,182)
Cash and cash equivalents at beginning of period	60,289	103,907
Cash and cash equivalents at end of period	$ 68,204	$ 31,725