CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (181,949)	$ (71,206)
Adjustments to reconcile net loss to cash provided by operating activities:
Amortization of investment premiums	36,079	36,399
Amortization of equity-based awards	1,767	1,779
Amortization of unrealized net loss (gain) on de-designated hedges	19	(9,735)
Loss on sale of mortgage investments	67,820	1,365
Loss on derivative instruments (net)	155,835	85,625
Other depreciation and amortization	59	54
Net change in receivables, other assets, accounts payable and accrued expenses	1,479	16,608
Net cash provided by operating activities	81,109	60,889
Investing activities:
Purchases of residential mortgage investments	(1,453,161)	(1,538,636)
Proceeds from sales of residential mortgage investments	2,558,871	303,991
Interest receivable acquired with the purchase of residential mortgage investments	(2,519)	(3,293)
Principal collections on residential mortgage investments, including changes in mortgage securities principal remittance receivable	1,753,877	1,705,959
Redemption of lending counterparty investments		5,000
Net cash provided by investing activities	2,857,068	473,021
Financing activities:
Proceeds from repurchase arrangements and similar borrowings	47,502,427	71,904,683
Principal payments on repurchase arrangements and similar borrowings	(50,202,545)	(72,141,471)
Decrease in cash collateral receivable from derivative counterparties	(38,141)	(39,076)
Net payments on derivative settlements	(157,773)	(115,279)
Issuance of common stock	12,882
Other capital stock transactions	(108)	(106)
Dividends paid	(38,325)	(23,472)
Net cash used in financing activities	(2,921,583)	(414,721)
Net change in cash and cash equivalents	16,594	119,189
Cash and cash equivalents at beginning of period	105,397	60,289
Cash and cash equivalents at end of period	$ 121,991	$ 179,478