Mortgage Backed Securities Mortgage backed securities (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Available-for-sale Securities [Line Items]

Available-for-sale Securities [Table Text Block]

The following table presents the components of the Company’s MBS designated as AFS as of September 30, 2013 and December 31, 2012:

	September 30, 2013
	Par		Net Premium (Discount)			Amortized Cost		Net Unrealized Gain (Loss)			Fair Value		Weighted average coupon
Agency:
RMBS	$	2,723,084	$	162,370		$	2,885,454	$	(56,407	)	$	2,829,047	3.26	%
CMBS	261,440		19,844			281,284		11,941			293,225		4.82	%
CMBS IO (1)	—		466,494			466,494		9,114			475,608		0.89	%
Total Agency AFS:	2,984,524		648,708			3,633,232		(35,352		)	3,597,880
Non-Agency:
RMBS	14,972		(351		)	14,621		(33		)	14,588		4.58	%
CMBS	381,342		(17,213		)	364,129		10,620			374,749		5.52	%
CMBS IO (1)	—		123,172			123,172		2,377			125,549		0.87	%
Total non-Agency AFS:	396,314		105,608			501,922		12,964			514,886
Total AFS securities	$	3,380,838	$	754,316		$	4,135,154	$	(22,388	)	$	4,112,766

(1) The notional balance for Agency CMBS IO and non-Agency CMBS IO is $9,682,065 and $2,857,343, respectively, as of September 30, 2013.

	December 31, 2012
	Par		Net Premium (Discount)			Amortized Cost		Net Unrealized Gain (Loss)		Fair Value		Weighted average coupon
Agency:
RMBS	$	2,425,826	$	137,168		$	2,562,994	$	8,343	$	2,571,337	3.67	%
CMBS	280,602		21,907			302,509		21,564		324,073		5.19	%
CMBS IO (1)	—		550,171			550,171		17,009		567,180		0.95	%
Total Agency AFS:	2,706,428		709,246			3,415,674		46,916		3,462,590
Non-Agency:
RMBS	11,411		(781		)	10,630		408		11,038		4.28	%
CMBS	463,747		(17,313		)	446,434		39,908		486,342		5.31	%
CMBS IO (1)	—		108,928			108,928		5,014		113,942		0.86	%
Total non-Agency AFS:	475,158		90,834			565,992		45,330		611,322
Total AFS securities	$	3,181,586	$	800,080		$	3,981,666	$	92,246	$	4,073,912

(1) The notional balance for the Agency CMBS IO and non-Agency CMBS IO is $10,059,495 and $2,393,614, respectively, as of December 31, 2012.

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

The following table presents certain information for those Agency MBS in an unrealized loss position as of September 30, 2013 and December 31, 2012:

	September 30, 2013						December 31, 2012
	Fair Value		Gross Unrealized Losses			# of Securities	Fair Value		Gross Unrealized Losses			# of Securities
Continuous unrealized loss position for less than 12 months:
Agency MBS	$	2,129,694	$	(48,337	)	164	$	1,026,277	$	(6,552	)	83
Non-Agency MBS	126,846		(5,902		)	23	13,877		(76		)	3
Continuous unrealized loss position for 12 months or longer:
Agency MBS	$	558,070	$	(17,718	)	67	$	271,719	$	(5,797	)	34
Non-Agency MBS	1,820		(100		)	6	2,701		(198		)	8