Ellington Financial (EFC) 10-Q7 Aug 152015 Q2 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	Ellington Financial LLC
Entity Central Index Key	1,411,342
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,449,678

Consolidated Statement Of Asset

Consolidated Statement Of Assets, Liabilities And Equity - USD ($) $ in Thousands		Dec. 31, 2014	Jun. 30, 2015
ASSETS
Cash and cash equivalents		$ 114,140	$ 123,856
Investments, financial derivatives, and repurchase agreements:
Investments, at fair value (Cost – $1,844,920 and $2,122,326)		2,172,082	1,870,251
Financial derivatives–assets, at fair value (Net cost – $87,291 and $61,560)	[1]	80,029	91,665
Repurchase agreements (Cost – $53,799 and $172,001)	[1]	172,001	53,788
Total investments, financial derivatives, and repurchase agreements		2,424,112	2,015,704
Due from brokers		146,965	122,255
Receivable for securities sold		1,237,592	1,197,613
Interest and principal receivable		20,611	12,096
Other assets		1,935	3,344
Total Assets		3,945,355	3,474,868
Investments and financial derivatives:
Investments sold short, at fair value (Proceeds – $1,185,455 and $1,290,091)		1,291,370	1,183,384
Financial derivatives–liabilities, at fair value (Net proceeds – $35,500 and $33,555)	[1]	66,116	45,565
Total investments and financial derivatives		1,357,486	1,228,949
Reverse repurchase agreements	[1]	1,669,433	1,360,408
Due to brokers		22,224	36,673
Payable for securities purchased		98,747	63,200
Securitized debt (Proceeds – $649 and $749)		774	655
Accounts payable and accrued expenses		2,798	2,676
Base management fee payable		2,963	2,919
Interest and dividends payable		2,386	2,293
Other Liabilities		0	13
Total Liabilities		3,156,811	2,697,786
Total Equity		788,544	777,082
TOTAL LIABILITIES AND EQUITY		3,945,355	3,474,868
ANALYSIS OF EQUITY:
Common shares, no par value, 100,000,000 shares authorized; (33,449,678 and 33,449,678 shares issued and outstanding)		772,811	761,181
Additional paid-in capital – LTIP units		9,344	9,538
Total Shareholders' Equity		782,155	770,719
Non-controlling interests		6,389	6,363
Total Equity		$ 788,544	$ 777,082
PER SHARE INFORMATION:
Common shares (in usd per share)		$ 23.38	$ 23.04	[2]

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	If all LTIP units and OP Units previously issued were vested and exchanged for common shares as of June 30, 2015 and 2014, shareholders' equity per share would be $22.75 and $24.14, respectively.

Consolidated Statement Of Asse3

Consolidated Statement Of Assets, Liabilities And Equity (Parenthetical) - USD ($) $ in Thousands, None in scaling factor is -9223372036854775296	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Investments at value, cost	$ 1,844,920	$ 2,122,326
Financial derivatives–assets, at fair value Net cost	87,291	61,560
Repurchase agreements, cost	53,799	172,001
Investments sold short at value, proceeds	(1,185,455)	(1,290,091)
Financial derivatives-liabilities, at fair value Net proceeds	(35,500)	(33,555)
Securitized debt proceeds	$ (649)	$ (749)
Common stock, par value
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	33,449,678	33,449,678
Common stock, shares outstanding	33,449,678	33,449,678

Consolidated Condensed Schedule

Consolidated Condensed Schedule Of Investments (Long Investments) - Major Types of Debt and Equity Securities [Domain] - Fair Value by Asset Class [Domain] - USD ($) shares in Thousands		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Schedule of Investments [Line Items]
Fair Value		$ 1,870,251,000		$ 2,172,082,000
Investment Owned, at Cost		$ 1,844,920,000		$ 2,122,326,000
Percentage collaterallized by GNRCMO certificates		100.00%		100.00%
Fair value of loans held in related party trust		$ 2,300,000
Non-performing loans, maturity date not applicable		$ 11,400,000		$ 11,300,000
Unrated But Agency-Guaranteed [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity		147.91%		163.60%
Long Investment A Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity		0.35%		0.98%
Long Investment BBB Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity		2.23%		5.62%
Long Investment BB Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity		53.46%		80.65%
Long Investment Unrated Rating [Member]
Schedule of Investments [Line Items]
Long investment holdings as a percentage of stockholders' equity		36.72%		24.61%
Principal And Interest - Fixed Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		138.00%	[1],[2],[3],[4]	147.82%	[5],[6],[7],[8],[9]
Fair Value		$ 1,072,400,000	[1],[3],[4]	$ 1,165,642,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 192,676,000	[1],[3],[4]	$ 191,734,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Fair Value		$ 205,465,000	[1],[3],[4]	$ 206,080,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2042-08	[1],[3],[4]	2042-04	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-07	[1],[3],[4]	2045-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 168,762,000	[1],[3],[4]	$ 176,029,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Fair Value		$ 179,647,000	[1],[3],[4]	$ 188,912,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2042-09	[1],[3],[4]	2042-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-05	[1],[3],[4]	2045-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 143,326,000	[1],[3],[4]	$ 171,291,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Fair Value		$ 156,617,000	[1],[3],[4]	$ 187,748,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2041-10	[1],[3],[4]	2041-10	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 4.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-04	[1],[3],[4]	2045-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 95,861,000	[1],[3],[4]	$ 63,040,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Fair Value		$ 99,100,000	[1],[3],[4]	$ 65,989,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2042-10	[1],[3],[4]	2042-10	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-06	[1],[3],[4]	2044-11	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 69,642,000	[1],[3],[4]	$ 71,332,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Fair Value		$ 76,219,000	[1],[3],[4]	$ 78,285,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-09	[1],[3],[4]	2043-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 4.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-06	[1],[3],[4]	2044-12	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 62,254,000	[1],[3],[4]	$ 93,720,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		5.00%	[1],[3],[4]	5.00%	[5],[7],[8],[9]
Fair Value		$ 69,261,000	[1],[3],[4]	$ 104,347,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 5.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2035-10	[1],[3],[4]	2035-10	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 5.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2044-12	[1],[3],[4]	2044-12	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 53,392,000	[1],[3],[4]	$ 53,456,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Fair Value		$ 55,143,000	[1],[3],[4]	$ 55,840,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2042-01	[1],[3],[4]	2042-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-06	[1],[3],[4]	2045-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 41,201,000	[1],[3],[4]	$ 84,478,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (15 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (15 Year)	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Fair Value		$ 43,742,000	[1],[3],[4]	$ 89,707,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2028-03	[1],[3],[4]	2028-03	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2030-06	[1],[3],[4]	2029-12	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 19,974,000	[1],[3],[4]	$ 21,139,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (15 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (15 Year)	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Fair Value		$ 21,221,000	[1],[3],[4]	$ 22,410,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2028-09	[1],[3],[4]	2028-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2029-09	[1],[3],[4]	2029-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 12,689,000	[1],[3],[4]	$ 14,283,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (15 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (15 Year)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Fair Value		$ 13,416,000	[1],[3],[4]	$ 15,211,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 4.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2026-06	[1],[3],[4]	2026-06	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 4.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2029-12	[1],[3],[4]	2029-12	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 9,397,000
Investment Owned Description	[1],[3],[4]	Federal National Mortgage Association Pools (15 Year)
Rate	[1],[3],[4]	3.00%
Fair Value	[1],[3],[4]	$ 9,782,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[1],[3],[4]	2030-04
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 3.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[1],[3],[4]	2030-06
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 9,421,000	[1],[3],[4]	$ 10,130,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		3.00%	[1],[3],[4]	3.00%	[5],[7],[8],[9]
Fair Value		$ 9,410,000	[1],[3],[4]	$ 10,271,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-01	[1],[3],[4]	2043-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 3.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-04	[1],[3],[4]	2043-04	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Other) 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 8,094,000	[1],[3],[4]	$ 8,424,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (Other)	[1],[3],[4]	Federal National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		5.00%	[1],[3],[4]	5.00%	[5],[7],[8],[9]
Fair Value		$ 9,125,000	[1],[3],[4]	$ 9,497,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Other) 5.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-09	[1],[3],[4]	2043-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Other) 5.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2044-01	[1],[3],[4]	2044-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.56% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 8,138,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association Pools (Other)
Rate	[1],[3],[4]	4.56%
Maturity	[1],[3],[4]	2065-01
Fair Value	[1],[3],[4]	$ 9,100,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 8,345,000	[1],[3],[4]	$ 7,402,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (Other)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (Other)	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Fair Value		$ 8,632,000	[1],[3],[4]	$ 7,678,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 3.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2030-02	[1],[3],[4]	2043-04	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 3.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-06	[1],[3],[4]	2043-06	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.61% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,676,000	[1],[3],[4]	$ 6,883,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.61%	[1],[3],[4]	4.61%	[5],[7],[8],[9]
Fair Value		$ 7,465,000	[1],[3],[4]	$ 7,738,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.61% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2064-06	[1],[3],[4]	2064-06	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.61% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2064-11	[1],[3],[4]	2064-11	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (20 Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,414,000	[1],[3],[4]	$ 6,663,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (20 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (20 Year)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Fair Value		$ 6,890,000	[1],[3],[4]	$ 7,213,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (20 Year) 4.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2033-11	[1],[3],[4]	2033-11	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (20 Year) 4.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2033-12	[1],[3],[4]	2033-12	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.59% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,063,000	[1],[3],[4]	$ 5,945,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.59%	[1],[3],[4]	4.59%	[5],[7],[8],[9]
Maturity		2064-11	[1],[3],[4]	2064-11	[5],[7],[8],[9]
Fair Value		$ 6,788,000	[1],[3],[4]	$ 6,695,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,801,000	[1],[3],[4]	$ 20,140,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		3.00%	[1],[3],[4]	3.00%	[5],[7],[8],[9]
Fair Value		$ 6,781,000	[1],[3],[4]	$ 20,425,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-01	[1],[3],[4]	2043-01	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 3.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-02	[1],[3],[4]	2043-05	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,400,000	[1],[3],[4]	$ 2,990,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (15 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (15 Year)	[5],[7],[8],[9]
Rate		3.00%	[1],[3],[4]	3.00%	[5],[7],[8],[9]
Maturity	[5],[7],[8],[9]			2028-03
Fair Value		$ 6,657,000	[1],[3],[4]	$ 3,114,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[1],[3],[4]	2028-03
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 3.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[1],[3],[4]	2030-04
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Other) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 5,339,000	[1],[3],[4]	$ 5,526,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (Other)	[1],[3],[4]	Federal National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Maturity		2044-02	[1],[3],[4]	2044-02	[5],[7],[8],[9]
Fair Value		$ 5,908,000	[1],[3],[4]	$ 6,108,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (30 Year) 5.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 5,083,000	[1],[3],[4]	$ 5,131,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		5.50%	[1],[3],[4]	5.50%	[5],[7],[8],[9]
Maturity		2039-10	[1],[3],[4]	2039-10	[5],[7],[8],[9]
Fair Value		$ 5,718,000	[1],[3],[4]	$ 5,741,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (15 Year) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 5,198,000	[1],[3],[4]	$ 5,916,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (15 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (15 Year)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Maturity		2026-04	[1],[3],[4]	2026-04	[5],[7],[8],[9]
Fair Value		$ 5,428,000	[1],[3],[4]	$ 6,232,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.68% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 4,121,000	[1],[3],[4]	$ 4,131,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.68%	[1],[3],[4]	4.68%	[5],[7],[8],[9]
Maturity		2064-09	[1],[3],[4]	2064-09	[5],[7],[8],[9]
Fair Value		$ 4,616,000	[1],[3],[4]	$ 4,647,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.75% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 4,021,000	[1],[3],[4]	$ 4,181,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.75%	[1],[3],[4]	4.75%	[5],[7],[8],[9]
Maturity		2061-01	[1],[3],[4]	2061-01	[5],[7],[8],[9]
Fair Value		$ 4,249,000	[1],[3],[4]	$ 4,457,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.63% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,729,000	[1],[3],[4]	$ 3,809,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.63%	[1],[3],[4]	4.63%	[5],[7],[8],[9]
Maturity		2064-10	[1],[3],[4]	2064-10	[5],[7],[8],[9]
Fair Value		$ 4,181,000	[1],[3],[4]	$ 4,295,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.80% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,456,000	[1],[3],[4]	$ 3,680,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.80%	[1],[3],[4]	4.80%	[5],[7],[8],[9]
Maturity		2061-02	[1],[3],[4]	2061-02	[5],[7],[8],[9]
Fair Value		$ 3,683,000	[1],[3],[4]	$ 3,933,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.49% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,260,000	[1],[3],[4]	$ 3,300,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.49%	[1],[3],[4]	4.49%	[5],[7],[8],[9]
Maturity		2064-11	[1],[3],[4]	2064-11	[5],[7],[8],[9]
Fair Value		$ 3,620,000	[1],[3],[4]	$ 3,698,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Thirty Year) 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 3,434,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association Pools (30 Year)
Rate	[1],[3],[4]	3.50%
Maturity	[1],[3],[4]	2045-04
Fair Value	[1],[3],[4]	$ 3,574,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pool (Other) 5.49% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,274,000	[1],[3],[4]	$ 3,487,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		5.49%	[1],[3],[4]	5.49%	[5],[7],[8],[9]
Maturity		2060-04	[1],[3],[4]	2060-04	[5],[7],[8],[9]
Fair Value		$ 3,559,000	[1],[3],[4]	$ 3,811,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,808,000	[1],[3],[4]	$ 2,836,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (Other)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (Other)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Maturity		2044-05	[1],[3],[4]	2044-05	[5],[7],[8],[9]
Fair Value		$ 3,106,000	[1],[3],[4]	$ 3,131,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,925,000	[1],[3],[4]	$ 3,027,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (Other)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (Other)	[5],[7],[8],[9]
Rate		3.00%	[1],[3],[4]	3.00%	[5],[7],[8],[9]
Maturity		2028-06	[1],[3],[4]	2028-06	[5],[7],[8],[9]
Fair Value		$ 3,034,000	[1],[3],[4]	$ 3,139,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Thirty Year) 6.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,664,000	[1],[3],[4]	$ 2,794,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (30 Year)	[1],[3],[4]	Federal National Mortgage Association Pools (30 Year)	[5],[7],[8],[9]
Rate		6.00%	[1],[3],[4]	6.00%	[5],[7],[8],[9]
Fair Value		$ 3,034,000	[1],[3],[4]	$ 3,164,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Thirty Year) 6.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2039-09	[1],[3],[4]	2039-09	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Thirty Year) 6.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2040-02	[1],[3],[4]	2040-02	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.64% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 2,620,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association Pools (Other)
Rate	[1],[3],[4]	4.64%
Maturity	[1],[3],[4]	2065-03
Fair Value	[1],[3],[4]	$ 2,947,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 5.54% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,700,000	[1],[3],[4]	$ 2,931,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		5.54%	[1],[3],[4]	5.54%	[5],[7],[8],[9]
Maturity		2060-02	[1],[3],[4]	2060-02	[5],[7],[8],[9]
Fair Value		$ 2,907,000	[1],[3],[4]	$ 3,177,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 5.51% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,472,000	[1],[3],[4]	$ 2,668,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools (Other)	[1],[3],[4]	Government National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		5.51%	[1],[3],[4]	5.51%	[5],[7],[8],[9]
Maturity		2060-02	[1],[3],[4]	2060-02	[5],[7],[8],[9]
Fair Value		$ 2,693,000	[1],[3],[4]	$ 2,919,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (15 Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,204,000	[1],[3],[4]	$ 2,561,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (15 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (15 Year)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Maturity		2029-02	[1],[3],[4]	2029-02	[5],[7],[8],[9]
Fair Value		$ 2,332,000	[1],[3],[4]	$ 2,728,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 6.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1,730,000	[1],[3],[4]	$ 1,849,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		6.00%	[1],[3],[4]	6.00%	[5],[7],[8],[9]
Fair Value		$ 1,963,000	[1],[3],[4]	$ 2,084,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 6.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2039-04	[1],[3],[4]	2039-04	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 6.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2040-05	[1],[3],[4]	2040-05	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Thirty Year) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 1,556,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association Pools (30 Year)
Rate	[1],[3],[4]	4.00%
Maturity	[1],[3],[4]	2045-04
Fair Value	[1],[3],[4]	$ 1,659,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (20 Year) 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1,483,000	[1],[3],[4]	$ 1,510,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (20 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (20 Year)	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Maturity		2033-12	[1],[3],[4]	2033-12	[5],[7],[8],[9]
Fair Value		$ 1,621,000	[1],[3],[4]	$ 1,652,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 886,000	[1],[3],[4]	$ 1,298,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		5.00%	[1],[3],[4]	5.00%	[5],[7],[8],[9]
Maturity		2044-07	[1],[3],[4]	2044-07	[5],[7],[8],[9]
Fair Value		$ 972,000	[1],[3],[4]	$ 1,444,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (30 Year) 5.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 803,000	[1],[3],[4]	$ 851,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools (30 Year)	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools (30 Year)	[5],[7],[8],[9]
Rate		5.50%	[1],[3],[4]	5.50%	[5],[7],[8],[9]
Maturity		2033-08	[1],[3],[4]	2033-08	[5],[7],[8],[9]
Fair Value		$ 904,000	[1],[3],[4]	$ 954,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association Pools (Other) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 222,000	[1],[3],[4]	$ 245,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools (Other)	[1],[3],[4]	Federal National Mortgage Association Pools (Other)	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Maturity		2037-06	[1],[3],[4]	2037-06	[5],[7],[8],[9]
Fair Value		$ 231,000	[1],[3],[4]	$ 260,000	[5],[7],[8],[9]
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.66% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 3,458,000
Investment Owned Description	[5],[7],[8],[9]			Government National Mortgage Association Pools (Other)
Rate	[5],[7],[8],[9]			4.66%
Maturity	[5],[7],[8],[9]			2063-01
Fair Value	[5],[7],[8],[9]			$ 3,792,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.67% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 3,290,000
Investment Owned Description	[5],[7],[8],[9]			Government National Mortgage Association Pools (Other)
Rate	[5],[7],[8],[9]			4.67%
Maturity	[5],[7],[8],[9]			2061-10
Fair Value	[5],[7],[8],[9]			$ 3,551,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 2,238,000
Investment Owned Description	[5],[7],[8],[9]			Federal Home Loan Mortgage Corporation Pools (Other)
Rate	[5],[7],[8],[9]			4.00%
Fair Value	[5],[7],[8],[9]			$ 2,398,000
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 4.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[5],[7],[8],[9]			2043-07
Principal And Interest - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools (Other) 4.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity	[5],[7],[8],[9]			2044-10
Principal And Interest - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association Pools (Other) 4.65% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 1,079,000
Investment Owned Description	[5],[7],[8],[9]			Government National Mortgage Association Pools (Other)
Rate	[5],[7],[8],[9]			4.65%
Maturity	[5],[7],[8],[9]			2061-11
Fair Value	[5],[7],[8],[9]			$ 1,167,000
Interest Only - Fixed Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		1.32%	[1],[2],[3],[4]	1.20%	[5],[6],[7],[8],[9]
Fair Value		$ 10,235,000	[1],[3],[4]	$ 9,441,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 4.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 17,154,000	[1],[3],[4]	$ 30,581,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Rate		4.50%	[1],[3],[4]	4.50%	[5],[7],[8],[9]
Fair Value		$ 2,433,000	[1],[3],[4]	$ 3,946,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 4.50% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2020-12	[1],[3],[4]	2020-12	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 4.50% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2043-05	[1],[3],[4]	2043-06	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 14,231,000	[1],[3],[4]	$ 17,397,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Rate		5.00%	[1],[3],[4]	5.00%	[5],[7],[8],[9]
Fair Value		$ 2,071,000	[1],[3],[4]	$ 1,899,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 5.00% [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2036-01	[1],[3],[4]	2036-01	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 5.00% [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2040-05	[1],[3],[4]	2040-05	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association 5.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 9,988,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association
Rate	[1],[3],[4]	5.50%
Maturity	[1],[3],[4]	2043-11
Fair Value	[1],[3],[4]	$ 1,888,000
Interest Only - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation 3.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,499,000	[1],[3],[4]	$ 6,935,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation	[1],[3],[4]	Federal Home Loan Mortgage Corporation	[5],[7],[8],[9]
Rate		3.50%	[1],[3],[4]	3.50%	[5],[7],[8],[9]
Maturity		2032-12	[1],[3],[4]	2032-12	[5],[7],[8],[9]
Fair Value		$ 919,000	[1],[3],[4]	$ 1,001,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 6,150,000	[1],[3],[4]	$ 7,621,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation	[1],[3],[4]	Federal Home Loan Mortgage Corporation	[5],[7],[8],[9]
Rate		5.00%	[1],[3],[4]	5.00%	[5],[7],[8],[9]
Maturity		2040-03	[1],[3],[4]	2040-03	[5],[7],[8],[9]
Fair Value		$ 757,000	[1],[3],[4]	$ 815,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 3.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 4,311,000	[1],[3],[4]	$ 4,691,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Rate		3.00%	[1],[3],[4]	3.00%	[5],[7],[8],[9]
Maturity		2041-09	[1],[3],[4]	2041-09	[5],[7],[8],[9]
Fair Value		$ 517,000	[1],[3],[4]	$ 554,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association 5.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 4,652,000
Investment Owned Description	[1],[3],[4]	Government National Mortgage Association
Rate	[1],[3],[4]	5.00%
Maturity	[1],[3],[4]	2037-05
Fair Value	[1],[3],[4]	$ 462,000
Interest Only - Fixed Rate Agency Securities [Member] \| Government National Mortgage Association 4.75% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,142,000	[1],[3],[4]	$ 2,142,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association	[1],[3],[4]	Government National Mortgage Association	[5],[7],[8],[9]
Rate		4.75%	[1],[3],[4]	4.75%	[5],[7],[8],[9]
Maturity		2040-07	[1],[3],[4]	2040-07	[5],[7],[8],[9]
Fair Value		$ 460,000	[1],[3],[4]	$ 461,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 5.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1,925,000	[1],[3],[4]	$ 2,242,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Rate		5.50%	[1],[3],[4]	5.50%	[5],[7],[8],[9]
Maturity		2040-10	[1],[3],[4]	2040-10	[5],[7],[8],[9]
Fair Value		$ 293,000	[1],[3],[4]	$ 285,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association 4.00% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1,529,000	[1],[3],[4]	$ 1,826,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Rate		4.00%	[1],[3],[4]	4.00%	[5],[7],[8],[9]
Maturity		2039-05	[1],[3],[4]	2039-05	[5],[7],[8],[9]
Fair Value		$ 267,000	[1],[3],[4]	$ 287,000	[5],[7],[8],[9]
Interest Only - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation 5.50% [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1,342,000	[1],[3],[4]	$ 1,609,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation	[1],[3],[4]	Federal Home Loan Mortgage Corporation	[5],[7],[8],[9]
Rate		5.50%	[1],[3],[4]	5.50%	[5],[7],[8],[9]
Maturity		2039-01	[1],[3],[4]	2039-01	[5],[7],[8],[9]
Fair Value		$ 168,000	[1],[3],[4]	$ 193,000	[5],[7],[8],[9]
TBA - Fixed Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		3.21%	[1],[2],[3],[4]	9.18%	[5],[6],[7],[8],[9]
Current Principal/Notional Amount		$ 25,090,000		$ 71,598,000
Fair Value		24,933,000	[1],[3],[4]	72,410,000	[5],[7],[8],[9]
TBA - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 3.00%[Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[1],[3],[4]	$ 25,090,000
Investment Owned Description	[1],[3],[4]	Federal Home Loan Mortgage Corporation (30 Year)
Rate	[1],[3],[4]	3.00%
Maturity	[1],[3],[4]	2015-07
Fair Value	[1],[3],[4]	$ 24,933,000
TBA - Fixed Rate Agency Securities [Member] \| Federal National Mortgage Association (30 Year) [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 44,478,000
Investment Owned Description	[5],[7],[8],[9]			Federal National Mortgage Association (30 Year)
Rate	[5],[7],[8],[9]			3.00%
Maturity	[5],[7],[8],[9]			2015-01
Fair Value	[5],[7],[8],[9]			$ 45,015,000
TBA - Fixed Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation (30 Year) [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[5],[7],[8],[9]			$ 27,120,000
Investment Owned Description	[5],[7],[8],[9]			Federal Home Loan Mortgage Corporation (30 Year)
Rate	[5],[7],[8],[9]			3.00%
Maturity	[5],[7],[8],[9]			2015-01
Fair Value	[5],[7],[8],[9]			$ 27,395,000
Fixed Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		142.53%	[1],[2],[3],[4]	158.20%	[5],[6],[7],[8],[9]
Fair Value		$ 1,107,568,000	[1],[3],[4]	$ 1,247,493,000	[5],[7],[8],[9]
Investment Owned, at Cost		$ 1,100,124,000	[1],[3],[4]	$ 1,230,414,000	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		2.79%	[1],[2],[3],[4]	2.62%	[5],[6],[7],[8],[9]
Fair Value		$ 21,687,000	[1],[3],[4]	$ 20,647,000	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 9,144,000	[1],[3],[4]	$ 9,737,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation Pools	[1],[3],[4]	Federal Home Loan Mortgage Corporation Pools	[5],[7],[8],[9]
Fair Value		$ 9,698,000	[1],[3],[4]	$ 10,282,000	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		2.36%	[1],[3],[4]	2.36%	[5],[7],[8],[9]
Maturity		2037-06	[1],[3],[4]	2037-06	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation Pools [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		5.94%	[1],[3],[4]	5.94%	[5],[7],[8],[9]
Maturity		2044-05	[1],[3],[4]	2044-05	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association Pools [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 8,689,000	[1],[3],[4]	$ 6,265,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association Pools	[1],[3],[4]	Federal National Mortgage Association Pools	[5],[7],[8],[9]
Fair Value		$ 9,184,000	[1],[3],[4]	$ 6,692,000	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association Pools [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		2.75%	[1],[3],[4]	5.04%	[5],[7],[8],[9]
Maturity		2035-09	[1],[3],[4]	2035-09	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association Pools [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		6.05%	[1],[3],[4]	6.05%	[5],[7],[8],[9]
Maturity		2045-05	[1],[3],[4]	2037-09	[5],[7],[8],[9]
Principal And Interest - Floating Rate Agency Securities [Member] \| Government National Mortgage Association Pools [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,587,000	[1],[3],[4]	$ 3,404,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association Pools	[1],[3],[4]	Government National Mortgage Association Pool	[5],[7],[8],[9]
Rate		2.53%	[1],[3],[4]	2.47%	[5],[7],[8],[9]
Maturity		2064-11	[1],[3],[4]	2064-11	[5],[7],[8],[9]
Fair Value		$ 2,805,000	[1],[3],[4]	$ 3,673,000	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		2.59%	[1],[2],[3],[4]	2.78%	[5],[6],[7],[8],[9]
Fair Value		$ 20,150,000	[1],[3],[4]	$ 21,944,000	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Government National Mortgage Association [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 208,688,000	[1],[3],[4]	$ 183,794,000	[5],[7],[8],[9]
Investment Owned Description		Government National Mortgage Association	[1],[3],[4]	Government National Mortgage Association	[5],[7],[8],[9]
Fair Value		$ 14,047,000	[1],[3],[4]	$ 13,591,000	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Government National Mortgage Association [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		0.40%	[1],[3],[4]	0.40%	[5],[7],[8],[9]
Maturity		2042-11	[1],[3],[4]	2042-11	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Government National Mortgage Association [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		6.56%	[1],[3],[4]	6.58%	[5],[7],[8],[9]
Maturity		2063-10	[1],[3],[4]	2063-10	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 18,745,000	[1],[3],[4]	$ 28,251,000	[5],[7],[8],[9]
Investment Owned Description		Federal National Mortgage Association	[1],[3],[4]	Federal National Mortgage Association	[5],[7],[8],[9]
Fair Value		$ 2,992,000	[1],[3],[4]	$ 4,508,000	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		5.50%	[1],[3],[4]	5.50%	[5],[7],[8],[9]
Maturity		2035-04	[1],[3],[4]	2035-04	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Federal National Mortgage Association [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		6.51%	[1],[3],[4]	6.58%	[5],[7],[8],[9]
Maturity		2041-12	[1],[3],[4]	2043-07	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Resecuritization of Government National Mortgage Association [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 22,292,000	[1],[3],[4],[10]	$ 21,145,000	[5],[7],[8],[9],[11]
Investment Owned Description		Resecuritization of Government National Mortgage Association (d)	[1],[3],[4],[10]	Resecuritization of Government National Mortgage Association (f)	[5],[7],[8],[9],[11]
Rate		4.31%	[1],[3],[4],[10]	4.34%	[5],[7],[8],[9],[11]
Maturity		2060-08	[1],[3],[4],[10]	2060-08	[5],[7],[8],[9],[11]
Fair Value		$ 1,853,000	[1],[3],[4],[10]	$ 1,973,000	[5],[7],[8],[9],[11]
Interest Only - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 7,286,000	[1],[3],[4]	$ 13,048,000	[5],[7],[8],[9]
Investment Owned Description		Federal Home Loan Mortgage Corporation	[1],[3],[4]	Federal Home Loan Mortgage Corporation	[5],[7],[8],[9]
Fair Value		$ 1,258,000	[1],[3],[4]	$ 1,872,000	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		5.81%	[1],[3],[4]	5.84%	[5],[7],[8],[9]
Maturity		2036-03	[1],[3],[4]	2036-03	[5],[7],[8],[9]
Interest Only - Floating Rate Agency Securities [Member] \| Federal Home Loan Mortgage Corporation [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		6.44%	[1],[3],[4]	6.47%	[5],[7],[8],[9]
Maturity		2039-08	[1],[3],[4]	2039-08	[5],[7],[8],[9]
Floating Rate Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		5.38%	[1],[2],[3],[4]	5.40%	[5],[6],[7],[8],[9]
Fair Value		$ 41,837,000	[1],[3],[4]	$ 42,591,000	[5],[7],[8],[9]
Investment Owned, at Cost		$ 40,564,000	[1],[3],[4]	$ 41,787,000	[5],[7],[8],[9]
Agency Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		147.91%	[1],[2],[3],[4]	163.60%	[5],[6],[7],[8],[9]
Fair Value		$ 1,149,405,000	[1],[3],[4]	$ 1,290,084,000	[5],[7],[8],[9]
Investment Owned, at Cost		$ 1,140,688,000	[1],[3],[4]	$ 1,272,201,000	[5],[7],[8],[9]
Principal And Interest - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		55.21%	[2],[3],[4]	76.95%	[6],[7],[8],[9]
Fair Value		$ 429,062,000	[3],[4]	$ 606,757,000	[7],[8],[9]
Investment Owned, at Cost		$ 406,774,000	[3],[4]	$ 571,834,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		49.19%	[2],[3],[4]	71.67%	[6],[7],[8],[9]
Fair Value		$ 382,248,000	[3],[4]	$ 565,117,000	[7],[8],[9]
Investment Owned, at Cost		$ 355,328,000	[3],[4]	$ 526,764,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		6.02%	[2],[3],[4]	5.28%	[6],[7],[8],[9]
Fair Value		$ 46,814,000	[3],[4]	$ 41,640,000	[7],[8],[9]
Investment Owned, at Cost		51,446,000	[3],[4]	45,070,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 123,882,000	[3],[4]	$ 117,877,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 36,606,000	[3],[4]	$ 39,240,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Commercial [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 15,986,000	[3],[4]	$ 12,784,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 11,263,000	[3],[4]	$ 12,837,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 541,110,000	[3],[4]	$ 799,083,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 345,642,000	[3],[4]	$ 525,877,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 38,129,000	[3],[4]	$ 33,294,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 35,551,000	[3],[4]	$ 28,803,000	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		3.00%	[3],[4]	3.00%	[7],[8],[9]
Maturity		2045-07	[3],[4]	2045-07	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Commercial [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Maturity		2015-07	[3],[4]	2015-07	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Maturity		2019-05	[3],[4]	2019-05	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4]	0.34%	[7],[8],[9]
Maturity		2025-06	[3],[4]	2038-08	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		5.40%	[3],[4]	5.40%	[7],[8],[9]
Maturity		2049-12	[3],[4]	2049-12	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Commercial [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		11.00%	[3],[4]	12.25%	[7],[8],[9]
Maturity		2019-06	[3],[4]	2024-03	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		9.35%	[3],[4]	9.35%	[7],[8],[9]
Maturity		2046-09	[3],[4]	2047-07	[7],[8],[9]
Principal And Interest - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		5.32%	[3],[4]	4.41%	[7],[8],[9]
Maturity		2044-06	[3],[4]	2061-01	[7],[8],[9]
Principal Only - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		0.45%	[2],[3],[4]	0.41%	[6],[7],[8],[9]
Fair Value		$ 3,495,000	[3],[4]	$ 3,248,000	[7],[8],[9]
Investment Owned, at Cost		2,876,000	[3],[4]	2,737,000	[7],[8],[9]
Principal Only - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 5,800,000	[3],[4]	$ 5,800,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Maturity		2030-08	[3],[4]	2030-08	[7],[8],[9]
Fair Value		$ 3,495,000	[3],[4]	$ 3,248,000	[7],[8],[9]
Interest Only - Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		0.40%	[2],[3],[4]	0.31%	[6],[7],[8],[9]
Fair Value		$ 3,076,000	[3],[4]	$ 2,423,000	[7],[8],[9]
Investment Owned, at Cost		2,179,000	[3],[4]	1,602,000	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 27,254,000	[3],[4]	$ 17,666,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 1,965,000	[3],[4]	$ 1,234,000	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 44,539,000	[3],[4]	$ 47,557,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 1,111,000	[3],[4]	$ 1,189,000	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		1.42%	[3],[4]	1.42%	[7],[8],[9]
Maturity		2047-10	[3],[4]	2047-10	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		0.50%	[3],[4]	0.50%	[7],[8],[9]
Maturity		2044-06	[3],[4]	2044-06	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		1.60%	[3],[4]	1.45%	[7],[8],[9]
Maturity		2048-02	[3],[4]	2047-12	[7],[8],[9]
Interest Only - Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		2.00%	[3],[4]	2.00%	[7],[8],[9]
Maturity		2047-09	[3],[4]	2047-09	[7],[8],[9]
Other Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		0.00%	[2],[3],[4]	0.00%	[6],[7],[8],[9]
Fair Value		$ 0	[3],[4]	$ 0	[7],[8],[9]
Investment Owned, at Cost		292,000	[3],[4]	302,000	[7],[8],[9]
Other Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 0	[3],[4]	$ 0	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Fair Value		$ 0	[3],[4]	$ 0	[7],[8],[9]
Other Private Label Securities [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 107,841,000	[3],[4]	$ 111,629,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Maturity		2037-06	[3],[4]	2037-06	[7],[8],[9]
Fair Value		$ 0	[3],[4]	$ 0	[7],[8],[9]
Other Private Label Securities [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2045-07	[3],[4]	2045-07	[7],[8],[9]
Other Private Label Securities [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2048-02	[3],[4]	2047-10	[7],[8],[9]
Private Label Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		56.06%	[2],[3],[4]	77.67%	[6],[7],[8],[9]
Fair Value		$ 435,633,000	[3],[4]	$ 612,428,000	[7],[8],[9]
Investment Owned, at Cost		$ 412,121,000	[3],[4]	$ 576,475,000	[7],[8],[9]
Mortgage-Backed Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		203.97%	[2],[3],[4]	241.27%	[6],[7],[8],[9]
Fair Value		$ 1,585,038,000	[3],[4]	$ 1,902,512,000	[7],[8],[9]
Investment Owned, at Cost		$ 1,552,809,000	[3],[4]	$ 1,848,676,000	[7],[8],[9]
Collateralized Loan Obligations [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		12.66%	[2],[3],[4]	15.47%	[6],[7],[8],[9]
Fair Value		$ 98,388,000	[3],[4]	$ 121,994,000	[7],[8],[9]
Investment Owned, at Cost		$ 102,405,000	[3],[4]	$ 124,562,000	[7],[8],[9]
Collateralized Loan Obligations [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		6.01%	[2],[3],[4]	13.05%	[6],[7],[8],[9]
Fair Value		$ 46,709,000	[3],[4]	$ 102,883,000	[7],[8],[9]
Investment Owned, at Cost		$ 48,801,000	[3],[4]	$ 104,547,000	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		6.65%	[2],[3],[4]	2.42%	[6],[7],[8],[9]
Fair Value		$ 51,679,000	[3],[4]	$ 19,111,000	[7],[8],[9]
Investment Owned, at Cost		53,604,000	[3],[4]	20,015,000	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 68,550,000	[3],[4]	$ 128,188,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 46,709,000	[3],[4]	$ 102,883,000	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 63,573,000	[3],[4]	$ 19,786,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 51,679,000	[3],[4]	$ 19,111,000	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| Minimum [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4]	0.00%	[7],[8],[9]
Maturity		2016-05	[3],[4]	2017-02	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| Minimum [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4]	1.73%	[7],[8],[9]
Maturity		2017-03	[3],[4]	2017-03	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| Maximum [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		9.77%	[3],[4]	9.73%	[7],[8],[9]
Maturity		2068-09	[3],[4]	2068-09	[7],[8],[9]
Collateralized Loan Obligations [Member] \| Various Issuer [Member] \| Maximum [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Rate		7.59%	[3],[4]	4.00%	[7],[8],[9]
Maturity		2056-12	[3],[4]	2023-03	[7],[8],[9]
Consumer loans and asset-backed securities backed by consumer loans [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		6.75%	[2],[3],[4],[12]	3.08%	[6],[7],[8],[9],[13]
Fair Value		$ 52,457,000	[3],[4],[12]	$ 24,294,000	[7],[8],[9],[13]
Investment Owned, at Cost		$ 52,216,000	[3],[4],[12]	$ 24,824,000	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		6.24%	[2],[3],[4],[12]	2.59%	[6],[7],[8],[9],[13]
Fair Value		$ 48,528,000	[3],[4],[12]	$ 20,434,000	[7],[8],[9],[13]
Investment Owned, at Cost		$ 47,914,000	[3],[4],[12]	$ 20,549,000	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		0.51%	[2],[3],[4],[12]	0.49%	[6],[7],[8],[9],[13]
Fair Value		$ 3,929,000	[3],[4],[12]	$ 3,860,000	[7],[8],[9],[13]
Investment Owned, at Cost		4,302,000	[3],[4],[12]	4,275,000	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| Various Issuer [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 46,202,000	[3],[4],[12],[14]	$ 17,624,000	[7],[8],[9],[13]
Investment Owned Description		Various	[3],[4],[12],[14]	Various	[7],[8],[9],[13]
Fair Value		$ 48,528,000	[3],[4],[12],[14]	$ 20,434,000	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| Various Issuer [Member] \| Consumer [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,554,000	[3],[4],[12]	$ 3,860,000	[7],[8],[9],[13]
Investment Owned Description		Various	[3],[4],[12]	Various	[7],[8],[9],[13]
Rate		0.00%	[3],[4],[12]	0.00%	[7],[8],[9],[13]
Maturity		2024-08	[3],[4],[12]	2024-08	[7],[8],[9],[13]
Fair Value		$ 3,929,000	[3],[4],[12]	$ 3,860,000	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| Various Issuer [Member] \| Minimum [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		0.00%	[3],[4],[12],[14]	0.00%	[7],[8],[9],[13]
Maturity		2015-07	[3],[4],[12],[14]	2015-06	[7],[8],[9],[13]
Consumer loans and asset-backed securities backed by consumer loans [Member] \| Various Issuer [Member] \| Maximum [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		49.00%	[3],[4],[12],[14]	49.00%	[7],[8],[9],[13]
Maturity		2020-06	[3],[4],[12],[14]	2019-07	[7],[8],[9],[13]
Corporate Debt [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		3.38%	[2],[3],[4]	5.41%	[6],[7],[8],[9]
Fair Value		$ 26,278,000	[3],[4]	$ 42,708,000	[7],[8],[9]
Investment Owned, at Cost		$ 29,543,000	[3],[4]	43,585,000	[7],[8],[9]
Corporate Debt [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	[2],[3],[4]	1.87%
Fair Value	[3],[4]	$ 14,518,000
Investment Owned, at Cost	[3],[4]	$ 17,465,000
Corporate Debt [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	[2],[3],[4]	1.51%
Fair Value	[3],[4]	$ 11,760,000
Investment Owned, at Cost	[3],[4]	12,078,000
Corporate Debt [Member] \| Various Issuer [Member] \| Basic Materials [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 4,070,000	[3],[4]	$ 5,440,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Rate		11.75%	[3],[4]	9.00%	[7],[8],[9]
Maturity		2019-01	[3],[4]	2019-11	[7],[8],[9]
Fair Value		$ 2,381,000	[3],[4]	$ 5,114,000	[7],[8],[9]
Corporate Debt [Member] \| Various Issuer [Member] \| Communications [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[7],[8],[9]			$ 15,255,000
Investment Owned Description	[7],[8],[9]			Various
Fair Value	[7],[8],[9]			$ 14,671,000
Corporate Debt [Member] \| Various Issuer [Member] \| Communications [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[3],[4]	$ 8,155,000
Investment Owned Description	[3],[4]	Various
Rate	[3],[4]	14.00%
Maturity	[3],[4]	2018-10
Fair Value	[3],[4]	$ 8,889,000
Corporate Debt [Member] \| Various Issuer [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 2,866,000	[3],[4]	$ 6,543,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Maturity	[3],[4]	2020-07
Fair Value		$ 1,859,000	[3],[4]	$ 5,867,000	[7],[8],[9]
Corporate Debt [Member] \| Various Issuer [Member] \| Consumer [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[3],[4]	$ 16,136,000
Investment Owned Description	[3],[4]	Various
Rate	[3],[4]	7.50%
Maturity	[3],[4]	2016-12
Fair Value	[3],[4]	$ 698,000
Corporate Debt [Member] \| Various Issuer [Member] \| Diversified [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[7],[8],[9]			$ 2,793,000
Investment Owned Description	[7],[8],[9]			Various
Rate	[7],[8],[9]			7.50%
Maturity	[7],[8],[9]			2020-05
Fair Value	[7],[8],[9]			$ 2,779,000
Corporate Debt [Member] \| Various Issuer [Member] \| Energy [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 3,066,000	[3],[4]	$ 7,475,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Fair Value		$ 1,878,000	[3],[4]	$ 5,877,000	[7],[8],[9]
Corporate Debt [Member] \| Various Issuer [Member] \| Energy [Member] \| Europe [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[3],[4]	$ 2,800,000
Investment Owned Description	[3],[4]	Various
Rate	[3],[4]	12.25%
Maturity	[3],[4]	2017-01
Fair Value	[3],[4]	$ 2,173,000
Corporate Debt [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 8,500,000	[3],[4]	$ 8,500,000	[7],[8],[9]
Investment Owned Description		Various	[3],[4]	Various	[7],[8],[9]
Rate		15.00%	[3],[4]	15.00%	[7],[8],[9]
Maturity		2019-10	[3],[4]	2019-10	[7],[8],[9]
Fair Value		$ 8,400,000	[3],[4]	$ 8,400,000	[7],[8],[9]
Corporate Debt [Member] \| Various Issuer [Member] \| Minimum [Member] \| Communications [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate	[7],[8],[9]			7.75%
Maturity	[7],[8],[9]			2016-12
Corporate Debt [Member] \| Various Issuer [Member] \| Minimum [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		5.50%	[3],[4]	5.25%	[7],[8],[9]
Maturity	[7],[8],[9]			2016-06
Corporate Debt [Member] \| Various Issuer [Member] \| Minimum [Member] \| Energy [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		7.00%	[3],[4]	7.00%	[7],[8],[9]
Maturity		2018-11	[3],[4]	2017-01	[7],[8],[9]
Corporate Debt [Member] \| Various Issuer [Member] \| Maximum [Member] \| Communications [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate	[7],[8],[9]			14.00%
Maturity	[7],[8],[9]			2019-06
Corporate Debt [Member] \| Various Issuer [Member] \| Maximum [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		8.50%	[3],[4]	11.50%	[7],[8],[9]
Maturity	[7],[8],[9]			2021-09
Corporate Debt [Member] \| Various Issuer [Member] \| Maximum [Member] \| Energy [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		9.75%	[3],[4]	12.25%	[7],[8],[9]
Maturity		2019-06	[3],[4]	2019-06	[7],[8],[9]
Mortgage Loans [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		9.81%	[2],[3],[4],[12]	7.08%	[6],[7],[8],[9],[13]
Fair Value		$ 76,239,000	[3],[4],[12]	$ 55,791,000	[7],[8],[9],[13]
Investment Owned, at Cost		76,803,000	[3],[4],[12]	55,664,000	[7],[8],[9],[13]
Mortgage Loans [Member] \| Various Issuer [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 70,645,000	[3],[4],[12],[15]	$ 32,519,000	[7],[8],[9],[13],[16]
Investment Owned Description		Various	[3],[4],[12],[15]	Various	[7],[8],[9],[13],[16]
Fair Value		$ 55,310,000	[3],[4],[12],[15]	$ 28,309,000	[7],[8],[9],[13],[16]
Mortgage Loans [Member] \| Various Issuer [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 34,412,000	[3],[4],[12]	$ 44,336,000	[7],[8],[9],[13]
Investment Owned Description		Various	[3],[4],[12]	Various	[7],[8],[9],[13]
Rate		0.00%	[3],[4],[12]	0.00%	[7],[8],[9],[13]
Fair Value		$ 20,929,000	[3],[4],[12]	$ 27,482,000	[7],[8],[9],[13]
Mortgage Loans [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		2.50%	[3],[4],[12],[15]	0.00%	[7],[8],[9],[13],[16]
Maturity		2015-08	[3],[4],[12],[15]	2015-01	[7],[8],[9],[13],[16]
Mortgage Loans [Member] \| Various Issuer [Member] \| Minimum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2021-07	[3],[4],[12]	2018-02	[7],[8],[9],[13]
Mortgage Loans [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Rate		12.00%	[3],[4],[12],[15]	10.00%	[7],[8],[9],[13],[16]
Maturity		2045-07	[3],[4],[12],[15]	2017-11	[7],[8],[9],[13],[16]
Mortgage Loans [Member] \| Various Issuer [Member] \| Maximum [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Maturity		2055-04	[3],[4],[12]	2054-10	[7],[8],[9],[13]
Real Estate Owned [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		1.22%	[2],[3],[4],[12],[17]	1.10%	[6],[7],[8],[9],[13],[18]
Fair Value		$ 9,502,000	[3],[4],[12],[17]	$ 8,635,000	[7],[8],[9],[13],[18]
Investment Owned, at Cost		9,087,000	[3],[4],[12],[17]	8,748,000	[7],[8],[9],[13],[18]
Real Estate Owned [Member] \| Single-Family Houses [Member] \| Real estate-related [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 48	[3],[4],[12],[17]	$ 50	[7],[8],[9],[13],[18]
Investment Owned Description		Single-Family Houses	[3],[4],[12],[17]	Single-Family Houses	[7],[8],[9],[13],[18]
Fair Value		$ 7,458,000	[3],[4],[12],[17]	$ 6,591,000	[7],[8],[9],[13],[18]
Real Estate Owned [Member] \| Commercial Property [Member] \| Real estate-related [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount		$ 1	[3],[4],[12],[17]	$ 1	[7],[8],[9],[13],[18]
Investment Owned Description		Commercial Property	[3],[4],[12],[17]	Commercial Property	[7],[8],[9],[13],[18]
Fair Value		$ 2,044,000	[3],[4],[12],[17]	$ 2,044,000	[7],[8],[9],[13],[18]
Private Corporate Equity Investments [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		2.88%	[2],[3],[4]	1.84%	[6],[7],[8],[9]
Fair Value		$ 22,349,000	[3],[4]	$ 14,512,000	[7],[8],[9]
Investment Owned, at Cost		$ 22,057,000	[3],[4]	$ 14,717,000	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-related Private Partnership \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-Related Private Partnership	[3],[4]	Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-Related Private Partnership	[7],[8],[9]
Fair Value		$ 8,171,000	[3],[4]	$ 6,241,000	[7],[8],[9]
Investment Owned, Balance, Shares		8,171	[3],[4]	6,241	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Corporate Equity [Member] \| Consumer [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Exchange Traded Corporate Equity	[3],[4]	Non-Exchange Traded Corporate Equity	[7],[8],[9]
Fair Value		$ 2,810,000	[3],[4]	$ 2,090,000	[7],[8],[9]
Investment Owned, Balance, Shares		1,578	[3],[4]	32	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Corporate Equity [Member] \| Diversified [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Exchange Traded Corporate Equity	[3],[4]	Non-Exchange Traded Corporate Equity	[7],[8],[9]
Fair Value		$ 2,478,000	[3],[4]	$ 770,000	[7],[8],[9]
Investment Owned, Balance, Shares		160	[3],[4]	56	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Corporate Equity [Member] \| Technology [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description	[3],[4]	Non-Exchange Traded Corporate Equity
Fair Value	[3],[4]	$ 857,000
Investment Owned, Balance, Shares	[3],[4]	99
Private Corporate Equity Investments [Member] \| Non-controlling Interest in Mortgage-related Private Partnership [Member] \| Mortgage-related Commercial [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Controlling Interest in Mortgage-Related Private Partnership	[3],[4]	Non-Controlling Interest in Mortgage-Related Private Partnership	[7],[8],[9]
Fair Value		$ 2,795,000	[3],[4]	$ 2,673,000	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Mortgage Originators [Member] \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Exchange Traded Preferred Equity Investment in Mortgage Originators	[3],[4]	Non-Exchange Traded Preferred Equity Investment in Mortgage Originators	[7],[8],[9]
Fair Value		$ 4,325,000	[3],[4]	$ 2,500,000	[7],[8],[9]
Investment Owned, Balance, Shares		9,482	[3],[4]	7,657	[7],[8],[9]
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Equity Investment in Mortgage Originator \| Mortgage-related Residential [Member] \| North America [Member]
Schedule of Investments [Line Items]
Investment Owned Description		Non-Exchange Traded Equity Investment in Mortgage Originators	[3],[4]	Non-Exchange Traded Equity Investment in Mortgage Originators	[7],[8],[9]
Fair Value		$ 913,000	[3],[4]	$ 238,000	[7],[8],[9]
Investment Owned, Balance, Shares		7,478	[3],[4]	728	[7],[8],[9]
US Treasury Securities [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity	[6],[7],[8],[9]			0.21%
Fair Value	[7],[8],[9]			$ 1,636,000
Investment Owned, at Cost	[7],[8],[9]			1,550,000
US Treasury Securities [Member] \| US Treasury Bond Securities [Member] \| Government [Member] \| North America [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[7],[8],[9]			$ 1,560,000
Investment Owned Description	[7],[8],[9]			U.S. Treasury Bond
Rate	[7],[8],[9]			3.00%
Maturity	[7],[8],[9]			2044-11
Fair Value	[7],[8],[9]			$ 1,636,000
Long Investments [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		240.67%	[2],[3],[4]	275.46%	[6],[7],[8],[9]
Fair Value		$ 1,870,251,000	[3],[4]	$ 2,172,082,000	[7],[8],[9]
Investment Owned, at Cost		$ 1,844,920,000	[3],[4]	$ 2,122,326,000	[7],[8],[9]
Long Investments [Member] \| Government National Mortgage Association [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		10.62%		9.33%
Long Investments [Member] \| Federal National Mortgage Association [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		84.71%		100.30%
Long Investments [Member] \| Federal Home Loan Mortgage Corporation [Member]
Schedule of Investments [Line Items]
Investment owned as a percentage of equity		52.58%		53.97%

[1]	At June 30, 2015, the Company's long investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 84.71%, 52.58%, and 10.62% of equity, respectively.
[2]	Classification percentages are based on Total Equity.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[4]	The table below shows the ratings on the Company's long investments from Moody's, Standard and Poor's, or Fitch, as well as the Company's long investments that were unrated but guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association. Ratings tend to be a lagging credit indicator; as a result, the credit quality of the Company's long investment holdings may be lower than the credit quality implied based on the ratings listed below. In situations where an investment has a split rating, the lowest provided rating is used. The ratings descriptions include ratings qualified with a "+," "-," "1," "2," or "3."Rating Description Percent ofEquityUnrated but Agency-Guaranteed 147.91%A/A/A 0.35%Baa/BBB/BBB 2.23%Ba/BB/BB or below 53.46%Unrated 36.72%
[5]	At December 31, 2014, the Company's long investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 100.30%, 53.97%, and 9.33% of equity, respectively.
[6]	Classification percentages are based on Total Equity.
[7]	Conformed to current period presentation.
[8]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[9]	The table below shows the Company's long investment ratings from Moody's, Standard and Poor's, or Fitch, as well as the Company's long investments that were unrated but guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association. Ratings tend to be a lagging credit indicator; as a result, the credit quality of the Company's long investment holdings may be lower than the credit quality implied based on the ratings listed below. In situations where an investment has a split rating, the lowest provided rating is used. The ratings descriptions include ratings qualified with a "+," "-," "1," "2," or "3."Rating Description Percent of EquityUnrated but Agency-Guaranteed 163.60%A/A/A 0.98%Baa/BBB/BBB 5.62%Ba/BB/BB or below 80.65%Unrated 24.61%
[10]	Private trust 100% backed by interest in Government National Mortgage Association collateralized mortgage obligation certificates.
[11]	Private trust 100% backed by interest in Government National Mortgage Association collateralized mortgage obligation certificates.
[12]	Loans and real estate owned are beneficially owned by the Company through participation certificates in the various trusts that hold such investments.
[13]	Loans and real estate owned are beneficially owned by the Company through participation certificates in the various trusts that hold such investments.
[14]	Includes investments in participation certificates in a trust owned by a related party of Ellington Financial Management LLC for which the Company has beneficial interests in the residual cash flows of the underlying loans held by the trust. At June 30, 2015 loans held in the related party trust for which the Company has beneficial interests in the residual cash flows, totaled $2.3 million.
[15]	Includes non-performing commercial loans in the amount of $11.4 million whereby principal and/or interest is past due and a maturity date is not applicable.
[16]	Includes non-performing commercial loans in the amount of $11.3 million whereby principal and/or interest is past due and a maturity date is not applicable.
[17]	Number of properties not shown in thousands, represents actual number of properties owned.
[18]	Number of properties not shown in thousands, represents actual number of properties owned.

Consolidated Condensed Schedul5

Consolidated Condensed Schedule Of Investments (Repurchase Agreements) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Schedule of Investments [Line Items]
Fair value repurchase agreements	[1]	$ 53,788		$ 172,001
Repurchase agreements, cost		53,799		172,001
Repurchase Agreements [Member]
Schedule of Investments [Line Items]
Fair value repurchase agreements		$ 53,788	[2],[3]	$ 172,001	[4],[5],[6]
Investment owned as a percentage of equity		6.92%	[2],[3],[7]	21.81%	[4],[5],[6],[8]
Repurchase agreements, cost		$ 53,799	[2],[3]	$ 172,001	[4],[5],[6]
North America [Member] \| Repurchase Agreements [Member]
Schedule of Investments [Line Items]
Fair value repurchase agreements		$ 43,588	[2],[3]	$ 140,248	[4],[5],[6]
Investment owned as a percentage of equity		5.61%	[2],[3],[7]	17.78%	[4],[5],[6],[8]
Repurchase agreements, cost		$ 43,588	[2],[3]	$ 140,248	[4],[5],[6]
Europe [Member] \| Repurchase Agreements [Member]
Schedule of Investments [Line Items]
Fair value repurchase agreements		$ 10,200	[2],[3]	$ 31,753	[4],[5],[6]
Investment owned as a percentage of equity		1.31%	[2],[3],[7]	4.03%	[4],[5],[6],[8]
Repurchase agreements, cost		$ 10,211	[2],[3]	$ 31,753	[4],[5],[6]
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized by Par Value $15,000 U.S. Treasury Note, Coupon 2.00% Maturity Date 2025-02 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	14,644
Securities collateralized by par value	[2],[3]	$ 15,000
Coupon rate on underlying collateral	[2],[3]	2.00%
Maturity date of securities	[2],[3]	2025-02
Description	[2],[3]	Bank of America Collateralized by Par Value $15,000 U.S. Treasury Note, Coupon 2.00%, Maturity Date 2/25
Rate	[2],[3]	(0.35%)
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 14,644
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Deutsche Bank Securities Collateralized By Par Value $11,000 U.S. Treasury Note, Coupon 2.13% Maturity Date 2025-05 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	10,808
Securities collateralized by par value	[2],[3]	$ 11,000
Coupon rate on underlying collateral	[2],[3]	2.13%
Maturity date of securities	[2],[3]	2025-05
Description	[2],[3]	Deutsche Bank Securities Collateralized by Par Value $11,000 U.S. Treasury Note, Coupon 2.13%, Maturity Date 5/25
Rate	[2],[3]	(0.40%)
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 10,808
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized By Par Value $5,000 U.S. Treasury Note Coupon 1.25% Maturity Date 2018-10 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	5,025
Securities collateralized by par value	[2],[3]	$ 5,000
Coupon rate on underlying collateral	[2],[3]	1.25%
Maturity date of securities	[2],[3]	2018-10
Description	[2],[3]	Bank of America Collateralized by Par Value $5,000 U.S. Treasury Note, Coupon 1.25%, Maturity Date 10/18
Rate	[2],[3]	0.15%
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 5,025
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Pierpont Securities Collateralized By Par Value $4,000 U.S. Treasury Note Coupon 1.50% Maturity Date 2020-05 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	3,975
Securities collateralized by par value	[2],[3]	$ 4,000
Coupon rate on underlying collateral	[2],[3]	1.50%
Maturity date of securities	[2],[3]	2020-05
Description	[2],[3]	Pierpont Securities Collateralized by Par Value $4,000 U.S. Treasury Note, Coupon 1.50%, Maturity Date 5/20
Rate	[2],[3]	(0.70%)
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 3,975
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized By Par Value $4,000 U.S. Treasury Note Coupon 1.38% Maturity Date 2020-03 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	3,970
Securities collateralized by par value	[2],[3]	$ 4,000
Coupon rate on underlying collateral	[2],[3]	1.38%
Maturity date of securities	[2],[3]	2020-03
Description	[2],[3]	Bank of America Collateralized by Par Value $4,000 U.S. Treasury Note, Coupon 1.38%, Maturity Date 3/20
Rate	[2],[3]	0.00%
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 3,970
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized By Par Value $3,200 U.S. Treasury Note Coupon 2.25% Maturity Date 2024-11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	3,184
Securities collateralized by par value	[2],[3]	$ 3,200
Coupon rate on underlying collateral	[2],[3]	2.25%
Maturity date of securities	[2],[3]	2024-11
Description	[2],[3]	Bank of America Collateralized by Par Value $3,200 U.S. Treasury Note, Coupon 2.25%, Maturity Date 11/24
Rate	[2],[3]	0.15%
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 3,184
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized by Par Value $2,000 U.S. Treasury Note Coupon 1.25% Maturity Date 2020-01 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	1,983
Securities collateralized by par value	[2],[3]	$ 2,000
Coupon rate on underlying collateral	[2],[3]	1.25%
Maturity date of securities	[2],[3]	2020-01
Description	[2],[3]	Bnak of America Collateralized by Par Value $2,000 U.S. Treasury Note, Coupon 1.25%, Maturity Date 1/20
Rate	[2],[3]	0.15%
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 1,982
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Deutsche Bank Securities Collateralized By Par Value $122,870 U.S. Treasury Note, Coupon 1.50% Maturity Date 2019-11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			122,256
Securities collateralized by par value	[4],[5],[6]			$ 122,870
Coupon rate on underlying collateral	[4],[5],[6]			1.50%
Maturity date of securities	[4],[5],[6]			2019-11
Description	[4],[5],[6]			Deutsche Bank Securities Collateralized by Par Value $122,870 U.S. Treasury Note, Coupon 1.50%, Maturity Date 11/19
Rate	[4],[5],[6]			(0.22%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 122,256
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized By Par Value $7,410 U.S. Treasury Note Coupon, 2.25% Maturity Date 2024-11[Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			7,465
Securities collateralized by par value	[4],[5],[6]			$ 7,410
Coupon rate on underlying collateral	[4],[5],[6]			2.25%
Maturity date of securities	[4],[5],[6]			2024-11
Description	[4],[5],[6]			Bank of America Collateralized by Par Value $7,410 U.S. Treasury Note, Coupon 2.25%, Maturity Date 11/24
Rate	[4],[5],[6]			(0.22%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 7,465
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Pierpont Securities LLC Collateralized By Par Value $5,000 US Treasury Note Coupon, 1.25% Maturity Date 2018-10 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			4,975
Securities collateralized by par value	[4],[5],[6]			$ 5,000
Coupon rate on underlying collateral	[4],[5],[6]			1.25%
Maturity date of securities	[4],[5],[6]			2018-10
Description	[4],[5],[6]			Pierpont Securities LLC Collateralized by Par Value $5,000 U.S. Treasury Note, Coupon 1.25%, Maturity Date 10/18
Rate	[4],[5],[6]			(0.10%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 4,975
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Bank of America Collateralized By Par Value $3,354 US Treasury Note Coupon 2.25% Maturity Date 2024-11 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			3,379
Securities collateralized by par value	[4],[5],[6]			$ 3,354
Coupon rate on underlying collateral	[4],[5],[6]			2.25%
Maturity date of securities	[4],[5],[6]			2024-11
Description	[4],[5],[6]			Bank of America Collateralized by Par Value $3,354 U.S. Treasury Note, Coupon 2.25%, Maturity Date 11/24
Rate	[4],[5],[6]			(0.25%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 3,379
Government [Member] \| North America [Member] \| Repurchase Agreements [Member] \| Pierpont Securities LLC Collateralized By Par Value $2,000 US Treasury Bond Coupon 3.13% Maturity Date 2044-08 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			2,173
Securities collateralized by par value	[4],[5],[6]			$ 2,000
Coupon rate on underlying collateral	[4],[5],[6]			3.13%
Maturity date of securities	[4],[5],[6]			2044-08
Description	[4],[5],[6]			Pierpont Securities LLC Collateralized by Par Value $2,000 U.S. Treasury Bond, Coupon 3.13%, Maturity Date 8/44
Rate	[4],[5],[6]			(0.30%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 2,173
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Barclays Capital Inc. Collateralized By Par Value $7,231 Sovereign Government Bond Coupon 2.75% Maturity Date 2019-04 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	8,036
Securities collateralized by par value	[2],[3]	$ 7,231
Coupon rate on underlying collateral	[2],[3]	2.75%
Maturity date of securities	[2],[3]	2019-04
Description	[2],[3]	Barclays Capital Inc. Collateralized by Par Value $7,231 Sovereign Government Bond, Coupon 2.75%, Maturity Date 4/19
Rate	[2],[3]	(0.28%)
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 8,036
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Barclays Capital Inc. Collateralized By Par Value $2,045 Sovereign Government Bond, Coupon 4.00% Maturity Date 2016-09 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[2],[3]	2,165
Securities collateralized by par value	[2],[3]	$ 2,045
Coupon rate on underlying collateral	[2],[3]	4.00%
Maturity date of securities	[2],[3]	2016-09
Description	[2],[3]	Barclays Capital Inc. Collateralized by Par Value $2,045 Sovereign Government Bond, Coupon 4.00%, Maturity Date 9/16
Rate	[2],[3]	0.40%
Investments maturity date	[2],[3]	2015-07
Fair value repurchase agreements	[2],[3]	$ 2,164
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Barclays Capital Inc. Collateralized By Par Value $11,508 Sovereign Government Bond, Coupon 2.75% Maturity Date 2019-04 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			13,090
Securities collateralized by par value	[4],[5],[6]			$ 11,508
Coupon rate on underlying collateral	[4],[5],[6]			2.75%
Maturity date of securities	[4],[5],[6]			2019-04
Description	[4],[5],[6]			Barclays Capital Inc. Collateralized by Par Value $11,508 Sovereign Government Bond, Coupon 2.75%, Maturity Date 4/19
Rate	[4],[5],[6]			(0.10%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 13,090
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Barclays Capital Inc. Collateralized By Par Value $8,390 Sovereign Government Bond, Coupon 3.75% Maturity Date 2018-10 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			9,712
Securities collateralized by par value	[4],[5],[6]			$ 8,390
Coupon rate on underlying collateral	[4],[5],[6]			3.75%
Maturity date of securities	[4],[5],[6]			2018-10
Description	[4],[5],[6]			Barclays Capital Inc. Collateralized by Par Value $8,390 Sovereign Government Bond, Coupon 3.75%, Maturity Date 10/18
Rate	[4],[5],[6]			(0.10%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 9,712
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Barclays Capital Inc. Collateralized By Par Value $6,393 Sovereign Government Bond, Coupon 4.00% Maturity Date 2016-09 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			6,888
Securities collateralized by par value	[4],[5],[6]			$ 6,393
Coupon rate on underlying collateral	[4],[5],[6]			4.00%
Maturity date of securities	[4],[5],[6]			2016-09
Description	[4],[5],[6]			Barclays Capital Inc. Collateralized by Par Value $6,393 Sovereign Government Bond, Coupon 4.00%, Maturity Date 9/16
Rate	[4],[5],[6]			0.15%
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 6,888
Government [Member] \| Europe [Member] \| Repurchase Agreements [Member] \| Deutsche Bank Securities Collateralized By Par Value $1,827 Sovereign Government Bond Coupon 2.75% Maturity Date 2019-04 [Member]
Schedule of Investments [Line Items]
Current Principal/Notional Amount	[4],[5],[6]			2,063
Securities collateralized by par value	[4],[5],[6]			$ 1,827
Coupon rate on underlying collateral	[4],[5],[6]			2.75%
Maturity date of securities	[4],[5],[6]			2019-04
Description	[4],[5],[6]			Deutsche Bank Securities Collateralized by Par Value $1,827 Sovereign Government Bond, Coupon 2.75%, Maturity Date 4/19
Rate	[4],[5],[6]			(0.10%)
Investments maturity date	[4],[5],[6]			2015-01
Fair value repurchase agreements	[4],[5],[6]			$ 2,063

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	In general, securities received pursuant to repurchase agreements were delivered to counterparties in short sale transactions.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[4]	Conformed to current period presentation.
[5]	In general, securities received pursuant to repurchase agreements were delivered to counterparties in short sale transactions.
[6]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[7]	Classification percentages are based on Total Equity.
[8]	Classification percentages are based on Total Equity.

Consolidated Condensed Schedul6

Consolidated Condensed Schedule Of Investments (Investments Sold Short) - USD ($) shares in Thousands, $ in Thousands		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Investments Sold, Not yet Purchased [Line Items]
Investments sold short, at fair value-		$ (1,183,384)		$ (1,291,370)
Proceeds from investments sold short		$ (1,185,455)		$ (1,290,091)
TBA - Fixed Rate Agency Securities Sold Short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(144.13%)	[1],[2],[3]	(153.39%)	[4],[5],[6],[7]
Current Principal/Notional Amount		$ (1,063,670)		$ (1,135,218)
Investments sold short, at fair value-		(1,119,975)	[1],[3]	(1,209,539)	[4],[6],[7]
Proceeds from investments sold short		$ (1,120,845)	[1],[3]	$ (1,205,876)	[4],[6],[7]
TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(114.63%)		(121.95%)
TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(28.88%)		(31.44%)
Government debt sold short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(8.16%)	[2],[3]	(7.02%)	[5],[6],[7]
Investments sold short, at fair value-		$ (63,409)	[3]	$ (55,315)	[6],[7]
Proceeds from investments sold short		$ (64,610)	[3]	$ (56,610)	[6],[7]
Common Stock Sold Short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity	[5],[6],[7]			(3.36%)
Investments sold short, at fair value-	[6],[7]			$ (26,516)
Proceeds from investments sold short	[6],[7]			$ (27,605)
Securities Sold Short - Securities Sold, Not Yet Purchased [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(152.29%)	[2],[3]	(163.77%)	[5],[6],[7]
Investments sold short, at fair value-		$ (1,183,384)	[3]	$ (1,291,370)	[6],[7]
Proceeds from investments sold short		$ (1,185,455)	[3]	$ (1,290,091)	[6],[7]
North America [Member] \| Government debt sold short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(4.94%)	[2],[3]	(3.14%)	[5],[6],[7]
Investments sold short, at fair value-		$ (38,396)	[3]	$ (24,709)	[6],[7]
Proceeds from investments sold short		$ (38,531)	[3]	$ (24,602)	[6],[7]
Europe [Member] \| Government debt sold short [Member]
Investments Sold, Not yet Purchased [Line Items]
Investment Sold, Not yet Purchased, Percent of Equity		(3.22%)	[2],[3]	(3.88%)	[5],[6],[7]
Investments sold short, at fair value-		$ (25,013)	[3]	$ (30,606)	[6],[7]
Proceeds from investments sold short		(26,079)	[3]	(32,008)	[6],[7]
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 3.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (207,792)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (214,050)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 year) 3.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (113,130)
Description	[1],[3]	Federal National Mortgage Association (15 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (119,335)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 4.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (91,138)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (96,517)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 4.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (84,060)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	4.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (90,857)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 4.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (72,197)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (76,314)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 4.00% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (68,000)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (71,865)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 year) 3.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (64,900)
Description	[1],[3]	Federal National Mortgage Association (15 year)
Rate	[1],[3]	3.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (67,232)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 4.00% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (49,000)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (51,680)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 3.50% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (45,000)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (46,239)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 5.00% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (36,440)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	5.00%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (40,218)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 5.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (32,580)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	5.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (35,991)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 year) 2.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (28,800)
Description	[1],[3]	Federal National Mortgage Association (15 year)
Rate	[1],[3]	2.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (29,142)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 4.50% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (24,400)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	4.50%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (26,338)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 4.50% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (22,600)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	4.50%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (24,374)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 4.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (21,331)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	4.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (23,034)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (15 year) 3.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (16,880)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (15 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (17,790)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (15 year) 3.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (16,510)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (15 year)
Rate	[1],[3]	3.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (17,092)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 year) 3.50% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (15,000)
Description	[1],[3]	Federal National Mortgage Association (15 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (15,793)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 3.00% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (15,000)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	3.00%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (14,899)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 year) 4.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (11,170)
Description	[1],[3]	Federal National Mortgage Association (15 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (11,716)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 3.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (9,120)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (9,377)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 year) 5.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (6,860)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	5.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (7,705)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 5.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (3,020)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	5.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (3,326)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Government National Mortgage Association (30 Year) 3.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (2,950)
Description	[1],[3]	Government National Mortgage Association (30 year)
Rate	[1],[3]	3.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (3,061)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 3.00% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (2,892)
Description	[1],[3]	Federal National Mortgage Association (30 year)
Rate	[1],[3]	3.00%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (2,880)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Government National Mortgage Association (30 Year) 4.00% 2015-08 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (1,600)
Description	[1],[3]	Government National Mortgage Association (30 year)
Rate	[1],[3]	4.00%
Investments maturity date	[1],[3]	2015-08
Investments sold short, at fair value-	[1],[3]	$ (1,693)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 5.50% 2015-07 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[1],[3]	$ (1,300)
Description	[1],[3]	Federal Home Loan Mortgage Corporation (30 year)
Rate	[1],[3]	5.50%
Investments maturity date	[1],[3]	2015-07
Investments sold short, at fair value-	[1],[3]	$ (1,457)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 4.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (213,928)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (228,376)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 3.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (205,082)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			3.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (213,870)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 Year) 3.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (146,580)
Description	[4],[6],[7]			Federal National Mortgage Association (15 year)
Rate	[4],[6],[7]			3.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (154,837)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 4.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (123,117)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (131,254)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 4.50% 2015-01 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (92,080)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			4.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (99,968)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 5.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (54,100)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			5.00%
Investments maturity date	[4],[6],[7]			2015-02
Investments sold short, at fair value-	[4],[6],[7]			$ (59,698)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 5.00% 2015-01 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (48,150)
Description				Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			5.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (53,193)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 4.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (48,800)
Description				Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			4.50%
Investments maturity date	[4],[6],[7]			2015-02
Investments sold short, at fair value-	[4],[6],[7]			$ (52,889)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 Year) 3.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (38,360)
Description	[4],[6],[7]			Federal National Mortgage Association (15 year)
Rate	[4],[6],[7]			3.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (39,870)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 4.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (36,081)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			4.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (39,111)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 4.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (26,400)
Description				Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-02
Investments sold short, at fair value-	[4],[6],[7]			$ (28,071)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 4.00% 2015-02 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (21,840)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-02
Investments sold short, at fair value-	[4],[6],[7]			$ (23,255)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (15 Year) 3.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (20,300)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (15 year)
Rate	[4],[6],[7]			3.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (21,429)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 Year) 2.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (15,850)
Description	[4],[6],[7]			Federal National Mortgage Association (15 year)
Rate	[4],[6],[7]			2.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (16,140)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 3.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (14,020)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			3.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (14,579)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 Year) 4.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (7,900)
Description	[4],[6],[7]			Federal National Mortgage Association (15 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-02
Investments sold short, at fair value-	[4],[6],[7]			$ (8,365)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (30 Year) 5.50% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (6,860)
Description	[4],[6],[7]			Federal National Mortgage Association (30 year)
Rate	[4],[6],[7]			5.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (7,673)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 year) 5.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (6,000)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			5.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (6,622)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (15 Year) 3.00% [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (4,100)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (15 year)
Rate	[4],[6],[7]			3.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (4,256)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal National Mortgage Association (15 Year) 4.00% 2015-01 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (3,270)
Description				Federal National Mortgage Association (15 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (3,465)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (30 Year) 5.50% 2015-01 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (1,300)
Description				Federal Home Loan Mortgage Corporation (30 year)
Rate	[4],[6],[7]			5.50%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (1,453)
Mortgage-related Residential [Member] \| North America [Member] \| TBA - Fixed Rate Agency Securities Sold Short [Member] \| Federal Home Loan Mortgage Corporation (15 Year) 4.00% 2015-01 [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[4],[6],[7]			$ (1,100)
Description	[4],[6],[7]			Federal Home Loan Mortgage Corporation (15 year)
Rate	[4],[6],[7]			4.00%
Investments maturity date	[4],[6],[7]			2015-01
Investments sold short, at fair value-	[4],[6],[7]			$ (1,165)
Government [Member] \| North America [Member] \| Government debt sold short [Member] \| US Treasury Notes Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount		$ (39,000)	[3]	$ (22,485)	[6],[7]
Description		U.S. Treasury Note	[3]	U.S. Treasury Note	[6],[7]
Investments sold short, at fair value-		$ (38,396)	[3]	$ (22,560)	[6],[7]
Government [Member] \| North America [Member] \| Government debt sold short [Member] \| US Treasury Bond Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount	[6],[7]			$ (2,000)
Description	[6],[7]			U.S. Treasury Bond
Rate	[6],[7]			3.13%
Investments maturity date	[6],[7]			2044-08
Investments sold short, at fair value-	[6],[7]			$ (2,149)
Government [Member] \| North America [Member] \| Government debt sold short [Member] \| Minimum [Member] \| US Treasury Notes Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Rate		1.25%	[3]	1.25%	[6],[7]
Investments maturity date		2018-10	[3]	2018-10	[6],[7]
Government [Member] \| North America [Member] \| Government debt sold short [Member] \| Maximum [Member] \| US Treasury Notes Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Rate		2.25%	[3]	2.25%	[6],[7]
Investments maturity date		2025-05	[3]	2024-11	[6],[7]
Government [Member] \| Europe [Member] \| Government debt sold short [Member] \| Sovereign Debt Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Current Principal/Notional Amount		$ (24,600)	[3]	$ (28,118)	[6],[7]
Description		European Sovereign Bond	[3]	European Sovereign Bonds	[6],[7]
Investments sold short, at fair value-		$ (25,013)	[3]	$ (30,606)	[6],[7]
Government [Member] \| Europe [Member] \| Government debt sold short [Member] \| Minimum [Member] \| Sovereign Debt Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Rate		0.25%	[3]	2.75%	[6],[7]
Investments maturity date		2016-09	[3]	2016-09	[6],[7]
Government [Member] \| Europe [Member] \| Government debt sold short [Member] \| Maximum [Member] \| Sovereign Debt Securities [Member]
Investments Sold, Not yet Purchased [Line Items]
Rate		4.00%	[3]	4.00%	[6],[7]
Investments maturity date		2019-04	[3]	2019-04	[6],[7]
Financial [Member] \| North America [Member] \| Common Stock Sold Short [Member] \| Publicly Traded Real Estate Investment Trusts [Member]
Investments Sold, Not yet Purchased [Line Items]
Description	[6],[7]			Publicly Traded Real Estate Investment Trusts
Investments sold short, at fair value-	[6],[7]			$ (26,516)
Investment Sold, Not yet Purchased, Balance, Shares	[6],[7]			(2,986)

[1]	At June 30, 2015, the Company's short investments guaranteed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation represented 114.63% and 28.88% of equity, respectively.
[2]	Classification percentages are based on Total Equity.
[3]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[4]	At December 31, 2014, the Company's short investments guaranteed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, represented 121.95% and 31.44% of equity, respectively.
[5]	Classification percentages are based on Total Equity.
[6]	Conformed to current period presentation.
[7]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.

Consolidated Condensed Schedul7

Consolidated Condensed Schedule Of Investments (Financial Derivatives)		6 Months Ended		12 Months Ended
		Jun. 30, 2015USD ($)contracts		Dec. 31, 2014USD ($)contracts
Investment Holdings, Other than Securities [Line Items]
Derivative Asset	[1]	$ 91,665,000		$ 80,029,000
Derivative Liabilities	[1]	(45,565,000)		(66,116,000)
Net cost		87,291,000		61,560,000
Net proceeds		$ (35,500,000)		$ (33,555,000)
Index multiplier		50
Long US Treasury Note Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Number of contracts \| contracts		1,644		1,346
Long Index Future [Member]
Investment Holdings, Other than Securities [Line Items]
Number of contracts \| contracts		81
Eurodollar Future [Member]
Investment Holdings, Other than Securities [Line Items]
Future contract notional		$ 1,000,000		$ 1,000,000
Future contract \| contracts		1		1
Purchased Options on U.S. Treasury Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Number of contracts \| contracts				110
Financial Derivatives - Assets [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 91,665,000	[2]	$ 80,029,000	[3],[4]
Investment owned as a percentage of equity		11.80%	[2],[5]	10.15%	[3],[4],[6]
Net cost		$ 87,291,000	[2]	$ 61,560,000	[3],[4]
Financial Derivatives - Assets [Member] \| Affiliates of Bank of America [Member]
Investment Holdings, Other than Securities [Line Items]
Investment owned as a percentage of equity		5.40%
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Corporate Bond Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[7],[8]	Credit	[3],[4],[9]
Derivative Asset, Notional Amount		$ 432,911,000	[2],[7],[8]	$ 311,983,000	[3],[4],[9]
Derivative Asset		$ 61,542,000	[2],[7],[8]	$ 35,865,000	[3],[4],[9]
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Corporate Bond Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2017-12	[2],[7],[8]	2017-12	[3],[4],[9]
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Corporate Bond Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2020-06	[2],[7],[8]	2019-12	[3],[4],[9]
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Asset Backed Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[7],[8]	Credit	[3],[4],[9]
Derivative Asset, Notional Amount		$ 1,608,000	[2],[7],[8]	$ 3,734,000	[3],[4],[9]
Range of expiration dates	[2],[7],[8]	2037-12
Derivative Asset		$ 62,000	[2],[7],[8]	$ 61,000	[3],[4],[9]
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Asset Backed Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[9]			2037-12
Financial Derivatives - Assets [Member] \| Long Credit Default Swap On Asset Backed Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[9]			2063-05
Financial Derivatives - Assets [Member] \| Long Interest Rate Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[8],[10]	Interest Rates	[3],[4],[11]
Derivative Asset, Notional Amount		$ 688,996,000	[2],[8],[10]	$ 1,017,067,000	[3],[4],[11]
Derivative Asset		$ 10,328,000	[2],[8],[10]	$ 23,243,000	[3],[4],[11]
Financial Derivatives - Assets [Member] \| Long Interest Rate Swaps [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2016-10	[2],[8],[10]	2016-07	[3],[4],[11]
Financial Derivatives - Assets [Member] \| Long Interest Rate Swaps [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2025-06	[2],[8],[10]	2044-12	[3],[4],[11]
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset	[2],[8]	$ 247,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Financial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[12]			Equity Market
Derivative Asset, Notional Amount	[3],[4],[12]			$ 875,000
Range of expiration dates	[3],[4],[12]			2015-06
Derivative Asset	[3],[4],[12]			$ 8,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Communications [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[13]	Credit
Derivative Asset, Notional Amount	[2],[8],[13]	$ 2,693,000
Range of expiration dates	[2],[8],[13]	2016-03
Derivative Asset	[2],[8],[13]	$ 33,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Consumer [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[13]	Credit
Derivative Asset, Notional Amount	[2],[8],[13]	$ 6,076,000
Derivative Asset	[2],[8],[13]	$ 31,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Consumer [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[8],[13]	2016-03
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Consumer [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[8],[13]	2016-06
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Diversified [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[13]	Credit
Derivative Asset, Notional Amount	[2],[8],[13]	$ 2,779,000
Range of expiration dates	[2],[8],[13]	2016-03
Derivative Asset	[2],[8],[13]	$ 16,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Industrial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[13]	Credit
Derivative Asset, Notional Amount	[2],[8],[13]	$ 2,700,000
Range of expiration dates	[2],[8],[13]	2016-03
Derivative Asset	[2],[8],[13]	$ 163,000
Financial Derivatives - Assets [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Technology [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[13]	Credit
Derivative Asset, Notional Amount	[2],[8],[13]	$ 1,400,000
Range of expiration dates	[2],[8],[13]	2016-06
Derivative Asset	[2],[8],[13]	$ 4,000
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[8],[14]	Credit	[3],[4],[15]
Derivative Asset, Notional Amount		$ (64,458,000)	[2],[8],[14]	$ (50,981,000)	[3],[4],[15]
Derivative Asset		$ 2,532,000	[2],[8],[14]	$ 1,820,000	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2046-05	[2],[8],[14]	2046-05	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2063-05	[2],[8],[14]	2052-10	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Interest Rate Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[8],[16]	Interest Rates	[3],[4],[17]
Derivative Asset, Notional Amount		$ (516,806,000)	[2],[8],[16]	$ (627,931,000)	[3],[4],[17]
Derivative Asset		$ 4,693,000	[2],[8],[16]	$ 5,411,000	[3],[4],[17]
Financial Derivatives - Assets [Member] \| Short Interest Rate Swaps [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2018-03	[2],[8],[16]	2016-10	[3],[4],[17]
Financial Derivatives - Assets [Member] \| Short Interest Rate Swaps [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2045-02	[2],[8],[16]	2044-12	[3],[4],[17]
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[8],[14]	Credit	[3],[4],[15]
Derivative Asset, Notional Amount		$ (14,937,000)	[2],[8],[14]	$ (17,691,000)	[3],[4],[15]
Derivative Asset		$ 9,449,000	[2],[8],[14]	$ 11,387,000	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2034-09	[2],[8],[14]	2034-09	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2036-05	[2],[8],[14]	2036-05	[3],[4],[15]
Financial Derivatives - Assets [Member] \| Short Total Return Swaps [Member] \| North America [Member] \| Financial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[8],[18]	Equity Market
Derivative Asset, Notional Amount	[2],[8],[18]	$ (44,359,000)
Range of expiration dates	[2],[8],[18]	2017-03
Derivative Asset	[2],[8],[18]	$ 1,000
Financial Derivatives - Assets [Member] \| Swap [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 88,854,000	[2],[8]	$ 77,795,000	[3],[4]
Investment owned as a percentage of equity		11.44%	[2],[5],[8]	9.87%	[3],[4],[6]
Net cost		$ 86,025,000	[2],[8]	$ 59,299,000	[3],[4]
Financial Derivatives - Assets [Member] \| Long US Treasury Note Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[19]	Interest Rates	[3],[4],[20]
Derivative Asset, Notional Amount		$ 159,700,000	[2],[19]	$ 109,300,000	[3],[4],[20]
Range of expiration dates		2015-09	[2],[19]	2015-03	[3],[4],[20]
Derivative Asset		$ 212,000	[2],[19]	$ 162,000	[3],[4],[20]
Financial Derivatives - Assets [Member] \| Long Eurodollar Future [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[21]	Interest Rates	[3],[4],[22]
Derivative Asset, Notional Amount		$ 23,000,000	[2],[21]	$ 11,000,000	[3],[4],[22]
Range of expiration dates	[3],[4],[22]			2017-06
Derivative Asset		$ 24,000	[2],[21]	$ 7,000	[3],[4],[22]
Financial Derivatives - Assets [Member] \| Long Eurodollar Future [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[21]	2015-12
Financial Derivatives - Assets [Member] \| Long Eurodollar Future [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[21]	2017-06
Financial Derivatives - Assets [Member] \| Short Eurodollar Future [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[22]			Interest Rates
Derivative Asset, Notional Amount	[3],[4],[22]			$ (520,000,000)
Derivative Asset	[3],[4],[22]			$ 92,000
Financial Derivatives - Assets [Member] \| Short Eurodollar Future [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[22]			2015-09
Financial Derivatives - Assets [Member] \| Short Eurodollar Future [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[22]			2017-09
Financial Derivatives - Assets [Member] \| Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 236,000	[2]	$ 261,000	[3],[4]
Investment owned as a percentage of equity		0.03%	[2],[5]	0.03%	[3],[4],[6]
Financial Derivatives - Assets [Member] \| Option on CDS on Corporate Bond Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[23]	Credit	[3],[4],[24]
Derivative Asset, Notional Amount		$ 74,556,000	[2],[23]	$ 364,400,000	[3],[4],[24]
Derivative Asset		$ 564,000	[2],[23]	$ 625,000	[3],[4],[24]
Financial Derivatives - Assets [Member] \| Option on CDS on Corporate Bond Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2015-09	[2],[23]	2015-01	[3],[4],[24]
Financial Derivatives - Assets [Member] \| Option on CDS on Corporate Bond Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2015-10	[2],[23]	2015-03	[3],[4],[24]
Financial Derivatives - Assets [Member] \| Purchased Payer Swaption [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[25]			Interest Rates
Derivative Asset, Notional Amount	[3],[4],[25]			$ 822,800,000
Derivative Asset	[3],[4],[25]			$ 344,000
Financial Derivatives - Assets [Member] \| Purchased Payer Swaption [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[25]			2015-01
Financial Derivatives - Assets [Member] \| Purchased Payer Swaption [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[25]			2015-06
Financial Derivatives - Assets [Member] \| Purchased Options on U.S. Treasury Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[26]			Interest Rates
Derivative Asset, Notional Amount	[3],[4],[26]			$ 11,000,000
Derivative Asset	[3],[4],[26]			$ 20,000
Financial Derivatives - Assets [Member] \| Purchased Options on U.S. Treasury Futures [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[26]			2015-02
Financial Derivatives - Assets [Member] \| Purchased Options on U.S. Treasury Futures [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[3],[4],[26]			2015-03
Financial Derivatives - Assets [Member] \| Purchased receiver swaptions [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[27]	Interest Rates
Derivative Asset, Notional Amount	[2],[27]	$ 29,000,000
Range of expiration dates	[2],[27]	2018-06
Derivative Asset	[2],[27]	$ 710,000
Financial Derivatives - Assets [Member] \| Written Straddle Swaption [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[28]	Interest Rates
Derivative Asset, Notional Amount	[2],[28]	$ (14,000,000)
Range of expiration dates	[2],[28]	2016-06
Derivative Asset	[2],[28]	$ 9,000
Financial Derivatives - Assets [Member] \| Options [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 1,283,000	[2]	$ 989,000	[3],[4]
Investment owned as a percentage of equity		0.17%	[2],[5]	0.13%	[3],[4],[6]
Net cost		$ 1,166,000	[2]	$ 2,161,000	[3],[4]
Financial Derivatives - Assets [Member] \| Long Currency Forward [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[29]	Currency
Derivative Asset, Notional Amount	[2],[29]	$ 5,192,000
Range of expiration dates	[2],[29]	2015-09
Derivative Asset	[2],[29]	$ 5,000
Financial Derivatives - Assets [Member] \| Short Currency Forward [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Currency	[2],[30]	Currency	[3],[4],[31]
Derivative Asset, Notional Amount		$ (104,038,000)	[2],[30]	$ (35,849,000)	[3],[4],[31]
Range of expiration dates		2015-09	[2],[30]	2015-03	[3],[4],[31]
Derivative Asset		$ 1,187,000	[2],[30]	$ 884,000	[3],[4],[31]
Financial Derivatives - Assets [Member] \| Forwards [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 1,192,000	[2]	$ 884,000	[3],[4]
Investment owned as a percentage of equity		0.15%	[2],[5]	0.11%	[3],[4],[6]
Financial Derivatives - Assets [Member] \| Warrant [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Asset		$ 100,000	[2]	$ 100,000	[3],[4]
Investment owned as a percentage of equity		0.01%	[2],[5]	0.01%	[3],[4],[6]
Net cost		$ 100,000	[2]	$ 100,000	[3],[4]
Financial Derivatives - Assets [Member] \| Warrant [Member] \| North America [Member] \| Mortgage-related Residential [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Equity Market	[2],[32]	Equity Market	[3],[4],[33]
Derivative Asset, Notional Amount		$ 1,554,000	[2],[32]	$ 1,554,000	[3],[4],[33]
Derivative Asset		100,000	[2],[32]	100,000	[3],[4],[33]
Financial Derivatives - Liabilities [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities		$ (45,565,000)	[2]	$ (66,116,000)	[3],[4]
Investment owned as a percentage of equity		(5.86%)	[2],[5]	(8.39%)	[3],[4],[6]
Net proceeds		$ (35,500,000)	[2]	$ (33,555,000)	[3],[4]
Financial Derivatives - Liabilities [Member] \| Affiliates of JP Morgan [Member]
Investment Holdings, Other than Securities [Line Items]
Investment owned as a percentage of equity				(5.18%)
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Corporate Bond Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[9],[34]			Credit
Derivative Liability, Notional Amount	[3],[4],[9],[34]			$ 3,756,000
Range of expiration dates	[3],[4],[9],[34]			2017-12
Derivative Liabilities	[3],[4],[9],[34]			$ (1,231,000)
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Asset Backed Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[7]	Credit	[3],[4],[9],[34]
Derivative Liability, Notional Amount		$ 59,467,000	[2],[7]	$ 17,113,000	[3],[4],[9],[34]
Derivative Liabilities		$ (6,507,000)	[2],[7]	$ (4,248,000)	[3],[4],[9],[34]
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Asset Backed Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2047-01	[2],[7]	2049-03	[3],[4],[9],[34]
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Asset Backed Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2063-05	[2],[7]	2052-10	[3],[4],[9],[34]
Financial Derivatives - Liabilities [Member] \| Long Interest Rate Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[10]	Interest Rates	[3],[4],[11],[34]
Derivative Liability, Notional Amount		$ 137,722,000	[2],[10]	$ 230,410,000	[3],[4],[11],[34]
Derivative Liabilities		$ (1,863,000)	[2],[10]	$ (678,000)	[3],[4],[11],[34]
Financial Derivatives - Liabilities [Member] \| Long Interest Rate Swaps [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2019-10	[2],[10]	2016-10	[3],[4],[11],[34]
Financial Derivatives - Liabilities [Member] \| Long Interest Rate Swaps [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2025-04	[2],[10]	2044-12	[3],[4],[11],[34]
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities	[2]	$ (1,905,000)
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Financial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Equity Market	[2],[18]	Equity Market	[3],[4],[12],[34]
Derivative Liability, Notional Amount		$ 54,960,000	[2],[18]	$ 72,075,000	[3],[4],[12],[34]
Derivative Liabilities		$ (2,000)	[2],[18]	$ (21,000)	[3],[4],[12],[34]
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Financial [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2016-11	[2],[18]	2015-01	[3],[4],[12],[34]
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Financial [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2017-04	[2],[18]	2016-11	[3],[4],[12],[34]
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Basic Materials [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[13]	Credit
Derivative Liability, Notional Amount	[2],[13]	$ 6,509,000
Range of expiration dates	[2],[13]	2016-03
Derivative Liabilities	[2],[13]	$ (260,000)
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Communications [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[13]	Credit
Derivative Liability, Notional Amount	[2],[13]	$ 8,060,000
Derivative Liabilities	[2],[13]	$ (1,479,000)
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Communications [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[13]	2016-03
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Communications [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[13]	2016-05
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Energy [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[13]	Credit
Derivative Liability, Notional Amount	[2],[13]	$ 5,752,000
Derivative Liabilities	[2],[13]	$ (164,000)
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Energy [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[13]	2016-04
Financial Derivatives - Liabilities [Member] \| Long Total Return Swaps [Member] \| North America [Member] \| Energy [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[13]	2016-06
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swap On Asset Backed Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[15],[34]			Credit
Derivative Liability, Notional Amount	[3],[4],[15],[34]			$ (20,050,000)
Range of expiration dates	[3],[4],[15],[34]			2063-05
Derivative Liabilities	[3],[4],[15],[34]			$ (162,000)
Financial Derivatives - Liabilities [Member] \| Short Interest Rate Swaps [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[16]	Interest Rates	[3],[4],[17],[34]
Derivative Liability, Notional Amount		$ (646,784,000)	[2],[16]	$ (1,024,716,000)	[3],[4],[17],[34]
Derivative Liabilities		$ (7,440,000)	[2],[16]	$ (28,727,000)	[3],[4],[17],[34]
Financial Derivatives - Liabilities [Member] \| Short Interest Rate Swaps [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2016-01	[2],[16]	2015-03	[3],[4],[17],[34]
Financial Derivatives - Liabilities [Member] \| Short Interest Rate Swaps [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2044-11	[2],[16]	2044-11	[3],[4],[17],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[14]	Credit	[3],[4],[15],[34]
Derivative Liability, Notional Amount		$ (3,237,000)	[2],[14]	$ (3,000,000)	[3],[4],[15],[34]
Range of expiration dates	[3],[4],[15],[34]			2035-03
Derivative Liabilities		$ (280,000)	[2],[14]	$ (239,000)	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[14]	2034-10
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swap On Asset Backed Securities [Member] \| North America [Member] \| Mortgage-related Residential [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[14]	2035-03
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Corporate Bonds [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities	[3],[4],[9],[34]			$ (2,706,000)
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Corporate Bonds [Member] \| North America [Member] \| Communications [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[9],[34]			Credit
Derivative Liability, Notional Amount	[3],[4],[9],[34]			$ 500,000
Range of expiration dates	[3],[4],[9],[34]			2019-09
Derivative Liabilities	[3],[4],[9],[34]			$ (172,000)
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Corporate Bonds [Member] \| North America [Member] \| Consumer [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[9],[34]			Credit
Derivative Liability, Notional Amount	[3],[4],[9],[34]			$ 3,498,000
Range of expiration dates	[3],[4],[9],[34]			2019-06
Derivative Liabilities	[3],[4],[9],[34]			$ (2,283,000)
Financial Derivatives - Liabilities [Member] \| Long Credit Default Swap On Corporate Bonds [Member] \| North America [Member] \| Energy [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[9],[34]			Credit
Derivative Liability, Notional Amount	[3],[4],[9],[34]			$ 430,000
Range of expiration dates	[3],[4],[9],[34]			2019-12
Derivative Liabilities	[3],[4],[9],[34]			$ (251,000)
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps On Corporate Bond Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[14]	Credit	[3],[4],[15],[34]
Derivative Liability, Notional Amount		$ (315,202,000)	[2],[14]	$ (352,945,000)	[3],[4],[15],[34]
Derivative Liabilities		$ (24,400,000)	[2],[14]	$ (27,357,000)	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps On Corporate Bond Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2016-12	[2],[14]	2016-12	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps On Corporate Bond Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2020-06	[2],[14]	2019-12	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps on Corporate Bonds [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities	[2]	$ (320,000)
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps on Corporate Bonds [Member] \| North America [Member] \| Financial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[14]	Credit
Derivative Liability, Notional Amount	[2],[14]	$ (4,000,000)
Range of expiration dates	[2],[14]	2020-03
Derivative Liabilities	[2],[14]	$ (81,000)
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps on Corporate Bonds [Member] \| North America [Member] \| Consumer [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[14]	Credit	[3],[4],[15],[34]
Derivative Liability, Notional Amount		$ (5,970,000)	[2],[14]	$ (5,970,000)	[3],[4],[15],[34]
Derivative Liabilities		$ (239,000)	[2],[14]	$ (247,000)	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps on Corporate Bonds [Member] \| North America [Member] \| Consumer [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2019-09	[2],[14]	2019-09	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Credit Default Swaps on Corporate Bonds [Member] \| North America [Member] \| Consumer [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2019-12	[2],[14]	2019-12	[3],[4],[15],[34]
Financial Derivatives - Liabilities [Member] \| Short Total Return Swaps [Member] \| North America [Member] \| Financial [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[18]	Equity Market
Derivative Liability, Notional Amount	[2],[18]	$ (33,349,000)
Range of expiration dates	[2],[18]	2017-03
Derivative Liabilities	[2],[18]	$ (14,000)
Financial Derivatives - Liabilities [Member] \| Short Total Return Swaps [Member] \| North America [Member] \| Energy [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[18]	Equity Market
Derivative Liability, Notional Amount	[2],[18]	$ (1,290,000)
Derivative Liabilities	[2],[18]	$ 0
Financial Derivatives - Liabilities [Member] \| Short Total Return Swaps [Member] \| North America [Member] \| Energy [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[18]	2017-03
Financial Derivatives - Liabilities [Member] \| Short Total Return Swaps [Member] \| North America [Member] \| Energy [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[18]	2017-06
Financial Derivatives - Liabilities [Member] \| Swap [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities		$ (42,729,000)	[2]	$ (65,616,000)	[3],[4],[34]
Investment owned as a percentage of equity		(5.50%)	[2],[5]	(8.32%)	[3],[4],[6],[34]
Net proceeds		$ (31,972,000)	[2]	$ (33,400,000)	[3],[4],[34]
Financial Derivatives - Liabilities [Member] \| Long US Treasury Note Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[19]	Interest Rates	[3],[4],[20]
Derivative Liability, Notional Amount		$ 44,600,000	[2],[19]	$ 50,600,000	[3],[4],[20]
Range of expiration dates		2015-09	[2],[19]	2015-03	[3],[4],[20]
Derivative Liabilities		$ (166,000)	[2],[19]	$ (13,000)	[3],[4],[20]
Financial Derivatives - Liabilities [Member] \| Long Index Future [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[35]	Credit
Derivative Liability, Notional Amount	[2],[35]	$ 8,321,000
Range of expiration dates	[2],[35]	2015-09
Derivative Liabilities	[2],[35]	$ (10,000)
Financial Derivatives - Liabilities [Member] \| Short Eurodollar Future [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[21]	Interest Rates	[3],[4],[22]
Derivative Liability, Notional Amount		$ (644,000,000)	[2],[21]	$ (179,000,000)	[3],[4],[22]
Derivative Liabilities		$ (457,000)	[2],[21]	$ (68,000)	[3],[4],[22]
Financial Derivatives - Liabilities [Member] \| Short Eurodollar Future [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2015-09	[2],[21]	2015-03	[3],[4],[22]
Financial Derivatives - Liabilities [Member] \| Short Eurodollar Future [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates		2017-09	[2],[21]	2015-06	[3],[4],[22]
Financial Derivatives - Liabilities [Member] \| Futures [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities		$ (633,000)	[2]	$ (81,000)	[3],[4]
Investment owned as a percentage of equity		(0.08%)	[2],[5]	(0.01%)	[3],[4],[6]
Financial Derivatives - Liabilities [Member] \| Option on CDS on Corporate Bond Indices [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Credit	[2],[36]	Credit	[3],[4],[37]
Derivative Liability, Notional Amount		$ (518,680,000)	[2],[36]	$ (25,900,000)	[3],[4],[37]
Range of expiration dates	[3],[4],[37]			2018-03
Derivative Liabilities		$ (1,334,000)	[2],[36]	$ (146,000)	[3],[4],[37]
Financial Derivatives - Liabilities [Member] \| Option on CDS on Corporate Bond Indices [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[36]	2015-08
Financial Derivatives - Liabilities [Member] \| Option on CDS on Corporate Bond Indices [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[36]	2015-10
Financial Derivatives - Liabilities [Member] \| Written Payer Swaption [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[3],[4],[38]			Interest Rates
Derivative Liability, Notional Amount	[3],[4],[38]			$ (10,200,000)
Range of expiration dates	[3],[4],[38]			2015-01
Derivative Liabilities	[3],[4],[38]			$ 0
Financial Derivatives - Liabilities [Member] \| Purchased Payer Swaption [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Interest Rates	[2],[39]	Interest Rates	[3],[4],[25]
Derivative Liability, Notional Amount		$ 126,000,000	[2],[39]	$ 260,000,000	[3],[4],[25]
Range of expiration dates		2016-06	[2],[39]	2015-03	[3],[4],[25]
Derivative Liabilities		$ (40,000)	[2],[39]	$ (137,000)	[3],[4],[25]
Financial Derivatives - Liabilities [Member] \| Purchased Straddle Swaption [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[28]	Interest Rates
Derivative Liability, Notional Amount	[2],[28]	$ 22,000,000
Range of expiration dates	[2],[28]	2018-06
Derivative Liabilities	[2],[28]	$ (30,000)
Financial Derivatives - Liabilities [Member] \| Written receiver swaptions [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[40]	Interest Rates
Derivative Liability, Notional Amount	[2],[40]	$ (13,000,000)
Range of expiration dates	[2],[40]	2018-06
Derivative Liabilities	[2],[40]	$ (594,000)
Financial Derivatives - Liabilities [Member] \| Options [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities		$ (1,998,000)	[2]	$ (283,000)	[3],[4]
Investment owned as a percentage of equity		(0.25%)	[2],[5]	(0.04%)	[3],[4],[6]
Net proceeds		$ (3,528,000)	[2]	$ (155,000)	[3],[4]
Financial Derivatives - Liabilities [Member] \| Long Currency Forward [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Currency	[2],[29]	Currency	[3],[4],[41]
Derivative Liability, Notional Amount		$ 8,664,000	[2],[29]	$ 9,518,000	[3],[4],[41]
Range of expiration dates		2015-09	[2],[29]	2015-03	[3],[4],[41]
Derivative Liabilities		$ (131,000)	[2],[29]	$ (136,000)	[3],[4],[41]
Financial Derivatives - Liabilities [Member] \| Short Currency Forward [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure		Currency	[2],[30]	Currency	[3],[4],[31]
Derivative Liability, Notional Amount		$ (10,162,000)	[2],[30]	$ (117,000)	[3],[4],[31]
Range of expiration dates		2015-09	[2],[30]	2015-03	[3],[4],[31]
Derivative Liabilities		$ (74,000)	[2],[30]	$ 0	[3],[4],[31]
Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Investment Holdings, Other than Securities [Line Items]
Derivative Liabilities		$ (205,000)	[2]	$ (136,000)	[3],[4]
Investment owned as a percentage of equity		(0.03%)	[2],[5]	(0.02%)	[3],[4],[6]
Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member]
Investment Holdings, Other than Securities [Line Items]
Primary risk exposure	[2],[42]	Interest Rates
Derivative Liability, Notional Amount	[2],[42]	$ 1,680,000
Derivative Liabilities	[2],[42]	$ 0
Investment owned as a percentage of equity	[2],[5]	0.00%
Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member] \| Minimum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[42]	2015-07
Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member] \| Maximum [Member]
Investment Holdings, Other than Securities [Line Items]
Range of expiration dates	[2],[42]	2015-08

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[3]	Conformed to current period presentation.
[4]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[5]	Classification percentages are based on Total Equity.
[6]	Classification percentages are based on Total Equity.
[7]	For long credit default swaps, the Company sold protection.
[8]	The following table shows the Company's swap assets by dealer as a percentage of Total Equity:Dealer/Parent Company Asset/Liability Percent of EquityAffiliates of Bank of America Financial derivatives—asset 5.40%
[9]	For long credit default swaps, the Company sold protection.
[10]	For long interest rate swap contracts, a floating rate is being paid and a fixed rate is being received.
[11]	For long interest rate swap contracts, a floating rate is being paid and a fixed rate is being received.
[12]	Notional value represents number of underlying shares times the closing price of the underlying security.
[13]	Notional value represents outstanding principal balance on underlying corporate debt.
[14]	For short credit default swaps, the Company purchased protection.
[15]	For short credit default swaps, the Company purchased protection.
[16]	For short interest rate swap contracts, a fixed rate is being paid and a floating rate is being received.
[17]	For short interest rate swap contracts, a fixed rate is being paid and a floating rate is being received.
[18]	Notional value represents number of underlying shares times the closing price of the underlying security.
[19]	Notional value represents the total face amount of U.S. Treasury Notes underlying all contracts held; as of June 30, 2015, 1,644 contracts were held.
[20]	Notional value represents the total face amount of U.S. Treasury Notes underlying all contracts held; as of December 31, 2014, 1,346 contracts were held.
[21]	Every $1,000,000 in notional value represents one contract.
[22]	Every $1,000,000 in notional value represents one contract.
[23]	Represents the option on the part of the Company to enter into a credit default swap on a corporate bond index whereby the Company would pay a fixed rate and receive credit protection payments.
[24]	Represents the option on the part of the Company to enter into a credit default swap on a corporate bond index whereby the Company would pay a fixed rate and receive credit protection payments.
[25]	Represents the option on the part of the Company to enter into an interest rate swap whereby the Company would pay a fixed rate and receive a floating rate.
[26]	Represents the option on the part of the Company to enter into a futures contract with a counterparty; as of December 31, 2014, 110 contracts were held.
[27]	Represents the option on the part of the Company to enter into an interest rate swap whereby the Company would pay a floating rate and receive a fixed rate.
[28]	Represents the combination of a written payer swaption and a written receiver swaption on the same underlying swap.
[29]	Notional amount represents U.S. Dollars to be paid by the Company at the maturity of the forward contract.
[30]	Notional amount represents U.S. Dollars to be received by the Company at the maturity of the forward contract.
[31]	Notional amount represents U.S. Dollars to be received by the Company at the maturity of the forward contract.
[32]	Notional amount represents number of warrants.
[33]	Notional amount represents number of warrants.
[34]	The following table shows the Company's swap liabilities by dealer as a percentage of Total Equity:Dealer/Parent Company Percent of EquityAffiliates of JP Morgan (5.18)%
[35]	Notional value represents the number of contracts held times 50 times the Index price at June 30, 2015; as of June 30, 2015, 81 contracts were held.
[36]	Represents the option on the part of a counterparty to enter into a credit default swap on a corporate bond index whereby the Company would pay a fixed rate and receive credit protection payments.
[37]	Represents the option on the part of a counterparty to enter into a credit default swap on a corporate bond index whereby the Company would pay a fixed rate and receive credit protection payments.
[38]	Represents the option on the part of a counterparty to enter into an interest rate swap with the Company whereby the Company would receive a fixed rate and pay a floating rate.
[39]	Represents the option on the part of the Company to enter into an interest rate swap whereby the Company would pay a fixed rate and receive a floating rate.
[40]	Represents the option on the part of a counterparty to enter into an interest rate swap with the Company whereby the Company would pay a fixed rate and receive a floating rate.
[41]	Notional amount represents U.S. Dollars to be paid by the Company at the maturity of the forward contract.
[42]	Notional amount represents principal balance of mortgage loan purchase commitments. Actual loan purchases are contingent upon successful loan closings in accordance with agreed-upon parameters.

Consolidated Statement Of Opera

Consolidated Statement Of Operations - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014		Jun. 30, 2015	Jun. 30, 2014	[1]
INVESTMENT INCOME
Interest income	$ 25,739	$ 20,996	[1]	$ 52,252	$ 42,493
Other investment income	1,023	0	[1]	1,316	0
Total investment income	26,762	20,996	[1]	53,568	42,493
EXPENSES
Base management fee	2,920	2,368		5,872	4,733
Interest expense	2,867	2,416	[1]	5,853	5,043
Other investment related expenses	1,163	1,232	[1]	2,365	1,662
Professional fees	631	578	[1]	1,347	1,219
Administration fees	346	294	[1]	685	587
Compensation expense	312	345	[1]	679	672
Insurance expense	143	193	[1]	320	382
Directors' fees and expenses	59	57	[1]	133	130
Share-based LTIP expense	98	64	[1]	196	127
Other expenses	493	443	[1]	921	851
Total expenses	9,032	7,990	[1]	18,371	15,406
NET INVESTMENT INCOME	17,730	13,006	[1]	35,197	27,087
Net realized gain (loss) on:
Investments	14,045	4,596	[1]	23,779	14,439
Financial derivatives, excluding currency forwards	(9,693)	(874)	[1]	(15,527)	826
Financial derivatives-currency forwards	(4,320)	57	[1]	1,476	(424)
Foreign currency transactions	729	(95)	[1]	1,462	252
Total net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	761	3,684	[1]	11,190	15,093
Change in net unrealized gain (loss) on:
Investments	(19,875)	9,803	[1]	(19,182)	9,656
Financial derivatives, excluding currency forwards	10,944	(5,384)	[1]	8,300	(7,987)
Financial derivatives-currency forwards	1,704	(387)	[1]	239	(224)
Foreign currency translation	1,959	482	[1]	(3,104)	417
Total Change in Net Unrealized Gain Loss On Investments, Financial derivatives, and Foreign currency translation	(5,268)	4,514	[1]	(13,747)	1,862
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION	(4,507)	8,198	[1]	(2,557)	16,955
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	13,223	21,204	[1]	32,640	44,042
Net Income (Loss) Attributable to Noncontrolling Interest	71	257	[1]	227	460
Net Income (Loss) Attributable to Parent	$ 13,152	$ 20,947	[1]	$ 32,413	$ 43,582
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE:
Basic and Diluted (in usd per share)	$ 0.39	$ 0.81	[1]	$ 0.96	$ 1.69

[1]	Conformed to current period presentation.

Consolidated Statement Of Chang

Consolidated Statement Of Changes In Equity - USD ($) $ in Thousands		Total		Parent [Member]	Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Parent at Dec. 31, 2013				$ 620,401
Stockholders' Equity Attributable to Noncontrolling Interest at Dec. 31, 2013					$ 5,648
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2013		$ 626,049
CHANGE IN SHAREHOLDERS’ EQUITY RESULTING FROM OPERATIONS
Net investment income	[1]	27,087
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	[1]	15,093
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation	[1]	1,862
Net Income (Loss) Attributable to Parent		43,582	[1]	43,582
Net Income (Loss) Attributable to Noncontrolling Interest		460	[1]		460
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	44,042
CHANGE IN EQUITY RESULTING FROM TRANSACTIONS
Shares issued in connection with incentive fee payment		309		309
Contributions from non-controlling interests		1,201			1,201
Dividends	[2]	(40,140)	[3]	(39,814)	(326)
Distributions to non-controlling interest		(465)			(465)
Adjustment to non-controlling interest		0		(497)	497
Share-based LTIP awards		127		126	1
Net increase (decrease) in equity from transactions		(38,968)		(39,876)	908
Net increase (decrease) in equity		5,074		3,706	1,368
Stockholders' Equity Attributable to Parent at Jun. 30, 2014				624,107
Stockholders' Equity Attributable to Noncontrolling Interest at Jun. 30, 2014					7,016
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 30, 2014		631,123
Stockholders' Equity Attributable to Parent at Dec. 31, 2014		782,155		782,155
Stockholders' Equity Attributable to Noncontrolling Interest at Dec. 31, 2014		6,389			6,389
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2014		788,544
CHANGE IN SHAREHOLDERS’ EQUITY RESULTING FROM OPERATIONS
Net investment income		35,197
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions		11,190
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation		(13,747)
Net Income (Loss) Attributable to Parent		32,413		32,413
Net Income (Loss) Attributable to Noncontrolling Interest		227			227
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		32,640
CHANGE IN EQUITY RESULTING FROM TRANSACTIONS
Shares issued in connection with incentive fee payment		0		0
Contributions from non-controlling interests		1,430			1,430
Dividends	[2]	(44,318)	[3]	(44,044)	(274)
Distributions to non-controlling interest		(1,410)			(1,410)
Adjustment to non-controlling interest		0		0	0
Share-based LTIP awards		196		195	1
Net increase (decrease) in equity from transactions		(44,102)		(43,849)	(253)
Net increase (decrease) in equity		(11,462)		(11,436)	(26)
Stockholders' Equity Attributable to Parent at Jun. 30, 2015		770,719		$ 770,719
Stockholders' Equity Attributable to Noncontrolling Interest at Jun. 30, 2015		6,363			$ 6,363
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 30, 2015		$ 777,082

[1]	Conformed to current period presentation.
[2]	For the six month periods ended June 30, 2015 and 2014, dividends totaling $1.30 and $1.54, respectively, per common share and convertible unit outstanding, were declared and paid.
[3]	The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.

Consolidated Statement Of Cha10

Consolidated Statement Of Changes In Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Dividends (in usd per share)	$ 0.65	$ 0.77	$ 1.30	$ 1.54

Consolidated Statement Of Cash

Consolidated Statement Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 32,640	$ 44,042	[1]
Reconciliation of the net increase in equity resulting from operations to net cash provided by (used in) operating activities:
Net realized (gain) loss on investments, financial derivatives, and foreign currency transactions	(11,150)	(15,037)
Change in net unrealized (gain) loss on investments and financial derivatives, and foreign currency translation	12,653	(1,867)
Amortization of premiums and accretion of discounts (net)	3,715	(5,597)
Purchase of investments	(1,886,733)	(1,055,747)
Proceeds from disposition of investments	2,037,393	1,025,495
Proceeds from principal payments of investments	151,590	73,060
Proceeds from investments sold short	1,502,793	874,768
Repurchase of investments sold short	(1,610,784)	(903,707)
Payments made to open financial derivatives	(100,601)	(15,491)
Proceeds received to close financial derivatives	123,495	26,994
Proceeds received to open financial derivatives	40,269	24,640
Payments made to close financial derivatives	(100,999)	(40,172)
Shares issued in connection with incentive fee payment	0	309
Share-based LTIP expense	196	127	[1]
(Increase) decrease in assets:
Repurchase agreements	118,213	(2,575)
Receivable for securities sold	39,979	69,839
Due from brokers	24,710	(27,292)
Interest and principal receivable	8,515	(787)
Other assets	(1,396)	11
Increase (decrease) in liabilities:
Due to brokers	14,449	7,717
Payable for securities purchased	(35,547)	(28,255)
Accounts payable and accrued expenses	(105)	272
Incentive fee payable	0	(3,091)
Other liabilities	13	0
Interest and dividends payable	(93)	755
Base management fee payable	(44)	4
Net cash provided by operating activities	363,171	48,415
Cash flows provided by (used in) financing activities:
Contributions from non-controlling interests	1,430	1,201
Offering costs paid	(30)	(47)
Dividends paid	(44,318)	(40,140)
Distributions to non-controlling Interest	(1,410)	(465)
Principal payments on securitized debt	(102)	(86)
Borrowings under Reverse Repurchase Agreements	5,388,655	1,707,410	[2]
Repayments of reverse repurchase agreements	(5,697,680)	(1,754,745)	[2]
Net cash used in financing activities	(353,455)	(86,872)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,716	(38,457)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	114,140	183,489
CASH AND CASH EQUIVALENTS, END OF PERIOD	123,856	145,032
Supplemental disclosure of cash flow information:
Interest paid	6,119	4,876
Shares issued in connection with incentive fee payment (non-cash)	0	309
Share-based LTIP awards (non-cash)	196	127	[1]
Aggregate TBA trade activity (buys sells) (non-cash)	$ 17,246,523	$ 13,395,312

[1]	Conformed to current period presentation.
[2]	Conformed to current period presentation.

Organization and Investment Obj

Organization and Investment Objective	6 Months Ended
Organization and Investment Objective	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Investment Objective	Organization and Investment Objective Ellington Financial LLC was formed as a Delaware limited liability company on July 9, 2007 and commenced operations on August 17, 2007. Ellington Financial Operating Partnership LLC (the "Operating Partnership"), a 99.4% owned consolidated subsidiary of Ellington Financial LLC, was formed as a Delaware limited liability company on December 14, 2012 and commenced operations on January 1, 2013. All of the Company's operations and business activities are conducted through the Operating Partnership. Ellington Financial LLC, the Operating Partnership, and their consolidated subsidiaries are hereafter collectively referred to as the "Company." All intercompany accounts are eliminated in consolidation. The Company is a specialty finance company that primarily acquires and manages mortgage-related assets, including residential mortgage-backed securities, or "RMBS," residential mortgage loans, commercial mortgage-backed securities, or "CMBS," commercial mortgage loans and other commercial real estate debt, real property, and mortgage-related derivatives. The Company also invests in corporate debt and equity securities, collateralized loan obligations, or "CLOs," consumer loans and asset-backed securities, or "ABS," backed by consumer and commercial assets, non-mortgage-related derivatives and other financial assets, including private debt and equity investments in mortgage-related entities. Ellington Financial Management LLC ("EFM" or the "Manager") is a registered investment adviser and a registered commodity pool operator that serves as the Manager to the Company pursuant to the terms of a management agreement (the "Management Agreement"). EFM is an affiliate of Ellington Management Group, L.L.C., an investment management firm that is registered as both an investment adviser and a commodity pool operator. In accordance with the terms of the Management Agreement, the Manager implements the investment strategy and manages the business and operations on a day-to-day basis for the Company and performs certain services for the Company, subject to oversight by the Company's Board of Directors ("Board of Directors").

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies (A) Basis of Presentation: The Company's unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, or "U.S. GAAP," for investment companies, ASC 946, Financial Services—Investment Companies ("ASC 946"). The Company has determined that it meets the definition of an investment company under ASC 946 . ASC 946 requires, among other things, that investments be reported at fair value in the financial statements. Additionally under ASC 946 the Company generally will not consolidate its interest in any company other than in its subsidiaries that qualify as investment companies under ASC 946. The consolidated financial statements include the accounts of the Company, the Operating Partnership, and its subsidiaries. All intercompany balances and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management's opinion, all material adjustments, considered necessary for a fair presentation of the Company's interim consolidated financial statements have been included and are only of a normal recurring nature. Interim results are not necessarily indicative of the results that may be expected for the entire fiscal year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2014. (B) Valuation: The Company applies ASC 820-10, Fair Value Measurement and Disclosures ("ASC 820-10"), to its holdings of financial instruments. ASC 820-10 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1—inputs to the valuation methodology are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Currently, the types of financial instruments the Company generally includes in this category are listed equities, exchange-traded derivatives, and cash equivalents; • Level 2—inputs to the valuation methodology other than quoted prices included in Level 1 are observable for the asset or liability, either directly or indirectly. Currently, the types of financial instruments that the Company generally includes in this category are Agency RMBS, non-Agency mortgage-backed securities determined to have sufficiently observable market data, U.S. Treasury securities and certain sovereign debt, commonly traded derivatives, such as interest rate swaps, foreign currency forwards, and certain other over-the-counter derivatives; and • Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement. The types of financial instruments that the Company generally includes in this category are RMBS, CMBS, ABS, and credit default swaps, or "CDS," on individual ABS, in each case where there is less price transparency. Also included in this category are residential and commercial mortgage loans, consumer loans, distressed corporate debt, non-listed equities, and private corporate equity investments. For certain financial instruments, the various inputs that management uses to measure fair value for such financial instrument may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for such financial instrument is based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company may use valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. The market approach uses third-party valuations and information obtained from market transactions involving identical or similar assets or liabilities. The income approach uses projections of the future economic benefit of an instrument to determine its fair value, such as in the discounted cash flow methodology. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in these financial instruments. Transfers between levels of the fair value hierarchy are assumed to occur at the end of the reporting period. Summary Valuation Techniques For financial instruments that are traded in an "active market," the best measure of fair value is the quoted market price. However, many of the Company's financial instruments are not traded in an active market. Therefore, management generally uses third-party valuations when available. If third-party valuations are not available, management uses other valuation techniques, such as the discounted cash flow methodology. The following are summary descriptions, for various categories of financial instruments, of the valuation methodologies management uses in determining fair value of the Company's financial instruments in such categories. Management utilizes such methodologies to assign a good faith fair value (the estimated price that, in an orderly transaction at the valuation date, would be received to sell an asset, or paid to transfer a liability, as the case may be) to each such financial instrument. For mortgage-backed securities, or "MBS," including To Be Announced MBS, or "TBAs," and CLOs, management seeks to obtain at least one third-party valuation, and often obtains multiple valuations when available. Management has been able to obtain third-party valuations on the vast majority of these instruments and expects to continue to solicit third-party valuations in the future. Management generally values each financial instrument at the average of third-party valuations received and not rejected as described below. Third-party valuations are not binding, and while management generally does not adjust the valuations it receives, management may challenge or reject a valuation when, based on its validation criteria, management determines that such valuation is unreasonable or erroneous. Furthermore, based on its validation criteria, management may determine that the average of the third-party valuations received for a given instrument does not result in what management believes to be the fair value of such instrument, and in such circumstances management may override this average with its own good faith valuation. The validation criteria may take into account output from management's own models, recent trading activity in the same or similar instruments, and valuations received from third parties. The use of proprietary models requires the use of a significant amount of judgment and the application of various assumptions including, but not limited to, assumptions concerning future prepayment rates and default rates. Valuations for fixed rate MBS pass-throughs issued by a U.S. government agency or government-sponsored enterprise are typically based on observable pay-up data (pay-ups are price premiums for specified categories of fixed rate pools relative to their TBA counterparts) or models that use observable market data, such as interest rates and historical prepayment speeds, and are validated against third-party valuations. Given their relatively high level of price transparency, Agency RMBS pass-throughs are typically designated as Level 2 assets, although Agency interest only and inverse interest only RMBS are currently designated as Level 3 assets since they generally have less price transparency. Non-Agency MBS and CLOs are generally classified as either Level 2 or Level 3 based on analysis of available market data such as recent trades, executable bids, and reported "market color." Furthermore, the methodology used by the third-party valuation providers is reviewed at least annually by management, so as to ascertain whether such providers are utilizing observable market data to determine the valuations that they provide. For residential and commercial mortgage loans, consumer loans, and real estate owned properties, or "REO," management determines fair value by taking into account both external pricing data, when available, and internal pricing models. Non-performing mortgage loans and REO are typically valued based on management's estimates of the value of the underlying real estate, using various information including general economic data, broker price opinions, or "BPOs," recent sales, property appraisals, and bids. Performing mortgage loans and consumer loans are typically valued using discounted cash flows based on market assumptions. These assumptions typically include projected default and prepayment rates and loss severities, and may include adjustments based on appraisals and BPOs. Mortgage and consumer loans and REO properties are classified as Level 3 assets. For financial derivatives with greater price transparency, such as CDS on asset-backed indices, CDS on corporate indices, certain options on the foregoing, and total return swaps on publicly-traded equities, market-standard pricing sources are used to obtain valuations; these financial derivatives are generally designated as Level 2 instruments. Interest rate swaps, swaptions, and foreign currency forwards are typically valued based on internal models that use observable market data, including applicable interest rates and foreign currency rates in effect as of the measurement date; the model-generated valuations are then typically compared to counterparty valuations for reasonableness. These financial derivatives are also generally designated as Level 2 instruments. Financial derivatives with less price transparency, such as CDS on individual ABS, are generally valued based on internal models, and are typically designated as Level 3 instruments. In the case of CDS on individual ABS, the valuation process typically starts with an estimation of the value of the underlying ABS. The Company's investments in distressed corporate debt are in the form of loans as well as total return swaps on loans. Valuations are typically based on prices of the underlying loans received from third-party pricing services. In determining the fair value of a distressed corporate debt investment, management may adjust the third-party prices received based on its good faith assessment of various factors relating to the debtor, such as the debtor's leverage ratio, an assessment of the debtor's ability to generate cash flow to service its debt, and the outlook for the debtor's overall industry, among other factors. These investments are designated as Level 3 assets. Investments in private operating entities, such as mortgage originators, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results, and in certain cases, where sufficient relevant data is not otherwise available, the original transaction price. These investments are also designated as Level 3 assets. The Company's reverse repurchase agreements are carried at cost, which approximates fair value. Reverse repurchase agreements are classified as Level 2 assets and liabilities based on the adequacy of the collateral and their short term nature. The Company's valuation process, including the application of validation criteria, is overseen by the Manager's Valuation Committee ("Valuation Committee"). The Valuation Committee includes senior level executives from various departments within the Manager, and each quarter, the Valuation Committee reviews and approves the valuations of the Company's investments. The valuation process also includes a monthly review by the Company's third-party administrator. The goal of this review is to replicate various aspects of the Company's valuation process based on the Company's documented procedures. Because of the inherent uncertainty of valuation, the estimated fair value of the Company's financial instruments may differ significantly from the values that would have been used had a ready market for the financial instruments existed, and the differences could be material to the Company's consolidated financial statements. (C) Purchase and Sales of Investments and Investment Income: Purchases and sales of investments are generally recorded on trade date, and realized and unrealized gains and losses are calculated based on identified cost. The Company amortizes premiums and accretes discounts on its debt investments. Coupon interest income on fixed income investments is generally accrued based on the outstanding principal balance or notional amount and the current coupon interest rate. For Agency RMBS and debt securities that are deemed to be of high credit quality at the time of purchase, premiums and discounts are amortized into interest income over the life of such securities using the effective interest method. For securities whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment is made to amortization to reflect the cumulative impact of the change in effective yield. For debt securities (including non-Agency MBS) that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. For purposes of determining the effective interest rate, management estimates the future expected cash flows of its investment holdings based on assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Principal write-offs are generally treated as realized losses. Changes in projected cash flows, as applied to the current amortized cost of the security, may result in a prospective change in the yield/interest income recognized on such securities. For each loan purchased with the expectation that both interest and principal will be paid in full, the Company generally amortizes or accretes any premium or discount over the life of the loan utilizing the effective interest method. However, on at least a quarterly basis based on current information and events, the Company re-assesses the collectability of interest and principal, and designates a loan as impaired either when any payments have become 90 or more days past due, or when, in the opinion of management, it is probable that the Company will be unable to collect either interest or principal in full. Once a loan is designated as impaired, as long as principal is still expected to be collectable in full, interest payments are recorded as interest income only when received (i.e., under the cash basis method); accruals of interest income are only resumed when the loan becomes contractually current and performance is demonstrated to be resumed. However, if principal is not expected to be collectable in full, the cost recovery method is used (i.e., no interest income is recognized, and all payments received—whether contractually interest or principal—are applied to cost). For each loan purchased with evidence of credit deterioration since origination and the expectation that either principal or interest will not be paid in full, interest income is generally recognized using the effective interest method for as long as the cash flows can be reasonably estimated. Here, instead of amortizing the purchase discount (i.e., the excess of the unpaid principal balance over the purchase price) over the life of the loan, the Company effectively amortizes the accretable yield (i.e., the excess of the Company's estimate of the total cash flows to be collected over the life of the loan over the purchase price). Not less than quarterly, the Company updates its estimate of the cash flows expected to be collected over the life of the loan, and revised yields are prospectively applied. To the extent that cash flows cannot be reasonably estimated, these loans are generally accounted for under the cost recovery method. For certain groups of consumer loans that the Company considers as having sufficiently homogeneous characteristics, the Company aggregates such loans into pools, and accounts for each such pool as a single asset. The pool is then treated analogously to a debt security deemed not to be of high credit quality, in that (i) the aggregate premium or discount for the pool is amortized or accreted into interest income based on the pool's effective interest rate; (ii) the effective interest rate is determined based on the net expected cash flows of the pool, taking into account estimates of prepayments, defaults, and loss severities; and (iii) estimates are updated not less than quarterly and revised yields are prospectively applied. In estimating future cash flows on the Company's debt investments, there are a number of assumptions that will be subject to significant uncertainties and contingencies, including, in the case of MBS, assumptions relating to prepayment rates, default rates, loan loss severities, and loan repurchases. These estimates require the use of a significant amount of judgment. The Company receives dividend income on certain of its equity investments and rental income on certain of its REO properties. These items of income are included on the Consolidated Statement of Operations under the heading, "Other investment income." (D) Cash and Cash Equivalents: Cash and cash equivalents include cash and short term investments with original maturities of three months or less at the date of acquisition. Cash equivalents are recorded at cost plus accrued interest, which approximates fair value. Cash and cash equivalents typically include amounts held in an interest bearing overnight account and amounts held in money market funds, and these balances generally exceed insured limits. (E) Financial Derivatives: The Company enters into various types of financial derivatives. The Company's financial derivatives are predominantly subject to bilateral collateral arrangements or clearing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Company may be required to deliver or receive cash or securities as collateral upon entering into derivative transactions. In addition, changes in the relative value of derivative transactions may require the Company or the counterparty to post or receive additional collateral. In the case of cleared derivatives, the clearinghouse becomes the Company's counterparty and a futures commission merchant, acts as an intermediary between the Company and the clearinghouse with respect to all facets of the related transaction, including the posting and receipt of required collateral. Cash collateral received by the Company is reflected on the Consolidated Statement of Assets, Liabilities, and Equity as "Due to Brokers." Conversely, cash collateral posted by the Company is reflected as "Due from Brokers" on the Consolidated Statement of Assets, Liabilities, and Equity. The major types of derivatives utilized by the Company are swaps, futures, options and swaptions, and forwards. Swaps: The Company may enter into various types of swaps, including interest rate swaps, credit default swaps, and total return swaps. The primary risk associated with the Company's interest rate swap activity is interest rate risk. The primary risk associated with the Company's credit default swaps is credit risk and the primary risks associated with the Company's total return swap activity are equity market risk and credit risk. The Company is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Primarily to help mitigate interest rate risk, the Company enters into interest rate swaps. Interest rate swaps are contractual agreements whereby one party pays a floating interest rate on a notional principal amount and receives a fixed rate payment on the same notional principal, or vice versa, for a fixed period of time. Interest rate swaps change in value with movements in interest rates. The Company enters into credit default swaps. A credit default swap is a contract under which one party agrees to compensate another party for the financial loss associated with the occurrence of a "credit event" in relation to a "reference amount" or notional value of a credit obligation (usually a bond, loan, or a basket of bonds or loans). The definition of a credit event may vary from contract to contract. A credit event may occur (i) when the underlying reference asset(s) fails to make scheduled principal or interest payments to its holders, (ii) with respect to credit default swaps referencing mortgage/asset-backed securities and indices, when the underlying reference obligation is downgraded below a certain rating level, or (iii) with respect to credit default swaps referencing corporate entities and indices, upon the bankruptcy of the underlying reference obligor. The Company typically writes (sells) protection to take a "long" position or purchases (buys) protection to take a "short" position with respect to underlying reference assets or to hedge exposure to other investment holdings. The Company enters into total return swaps in order to take a "long" or "short" position with respect to an underlying reference asset. The Company is subject to market price volatility of the underlying reference asset. A total return swap involves commitments to pay interest in exchange for a market-linked return based on a notional value. To the extent that the total return of the corporate debt, security, group of securities or index underlying the transaction exceeds or falls short of the offsetting interest obligation, the Company will receive a payment from or make a payment to the counterparty. Swaps change in value with movements in interest rates or total return of the reference securities. During the term of swap contracts, changes in value are recognized as unrealized gains or losses. When a contract is terminated, the Company realizes a gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Company's basis in the contract, if any. Periodic payments or receipts required by swap agreements are recorded as unrealized gains or losses when accrued and realized gains or losses when received or paid. Upfront payments paid and/or received by the Company to open swap contracts are recorded as an asset and/or liability on the Consolidated Statement of Assets, Liabilities, and Equity and are recorded as a realized gain or loss on the termination date. Futures Contracts: A futures contract is an exchange-traded agreement to buy or sell an asset for a set price on a future date. The Company enters into Eurodollar and/or U.S. Treasury security futures contracts to hedge its interest rate risk. The Company may also enter into various other futures contracts, including equity index futures. Initial margin deposits are made upon entering into futures contracts and can be either in the form of cash or securities. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by marking-to-market to reflect the current market value of the contract. Variation margin payments are made or received periodically, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Options: The Company may purchase or write put or call options contracts or enter into swaptions. The Company enters into options contracts typically to help mitigate overall market, credit, or interest rate risk depending on the type of options contract. However, the Company also enters into options contracts from time to time for speculative purposes. When the Company purchases an options contract, the option asset is initially recorded at an amount equal to the premium paid, if any, and is subsequently marked-to-market. Premiums paid for purchasing options contracts that expire unexercised are recognized on the expiration date as realized losses. If an options contract is exercised, the premium paid is subtracted from the proceeds of the sale or added to the cost of the purchase to determine whether the Company has realized a gain or loss on the related transaction. When the Company writes an options contract, the option liability is initially recorded at an amount equal to the premium received, if any, and is subsequently marked-to-market. Premiums received for writing options contracts that expire unexercised are recognized on the expiration date as realized gains. If an options contract is exercised, the premium received is subtracted from the cost of the purchase or added to the proceeds of the sale to determine whether the Company has realized a gain or loss on the related investment transaction. When the Company enters into a closing transaction, the Company will realize a gain or loss depending upon whether the amount from the closing transaction is greater or less than the premiums paid or received. The Company may also enter into options contracts that contain forward-settling premiums. In this case, no money is exchanged upfront. Instead the agreed-upon premium is paid by the buyer upon expiration of the option, regardless of whether or not the option is exercised. Forward Currency Contracts: A forward currency contract is an agreement between two parties to purchase or sell a specific quantity of currency with the delivery and settlement at a specific future date and exchange rate. During the period the forward currency contract is open, changes in the value of the contract are recognized as unrealized gains or losses. When the contract is settled, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Financial derivatives disclosed on the Consolidated Condensed Schedule of Investments include: credit default swaps on asset-backed securities, credit default swaps on asset-backed indices, credit default swaps on corporate bond indices, credit default swaps on corporate bonds, interest rate swaps, total return swaps, futures, foreign currency forwards, options contracts, warrants, and loan purchase commitments. Financial derivative assets are included in Financial derivatives—assets, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. Financial derivative liabilities are included in Financial derivatives—liabilities, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. In addition, financial derivative contracts are summarized by type on the Consolidated Condensed Schedule of Investments. (F) Investments Sold Short: When the Company sells securities short, it typically satisfies its security delivery settlement obligation by obtaining the security sold from the same or a different counterparty. The Company generally is required to deliver cash or securities as collateral to the counterparty for the Company's obligation to return the borrowed security. The amount by which the market value of the obligation falls short of or exceeds the proceeds from the short sale is treated as an unrealized gain or loss, respectively. A realized gain or loss will be recognized upon the termination of a short sale if the market price is less or greater than the proceeds originally received. (G) Reverse Repurchase Agreements and Repurchase Agreements: The Company enters into reverse repurchase agreements with third-party broker-dealers whereby it sells securities under agreements to be repurchased at an agreed-upon price and date. The Company also enters into repurchase agreement transactions with third-party broker-dealers whereby it purchases securities under agreements to resell at an agreed-upon price and date. In general, securities received pursuant to repurchase agreements are delivered to counterparties of short sale transactions. The Company accounts for reverse repurchase agreements as collateralized borrowings, with the initial sale price representing the amount borrowed, and with the future repurchase price consisting of the amount borrowed plus interest, at the implied interest rate of the reverse repurchase agreement, on the amount borrowed over the term of the reverse repurchase agreement. The interest rate on a reverse repurchase agreement or a repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. When the Company enters into a reverse repurchase agreement, the lender establishes and maintains an account containing cash and/or securities having a value not less than the repurchase price, including accrued interest, of the reverse repurchase agreement. Assets held pursuant to repurchase agreements are reflected as assets on the Consolidated Statement of Assets, Liabilities, and Equity. Repurchase and reverse repurchase agreements that are conducted with the same counterparty may be reported on a net basis if they meet the requirements of ASC 210-20, Balance Sheet Offsetting . There are no repurchase and reverse repurchase agreements reported on a net basis in the Company's consolidated financial statements. Reverse repurchase agreements are carried at their contractual amounts, which approximate fair value as the debt is short-term in nature. (H) Securitized Debt: The Company entered into a resecuritization transaction in January 2012, which is accounted for as a collateralized borrowing. The asset contributed to the securitization was not derecognized but rather, the liability issued by the securitization was recorded to reflect the term financing of the re-securitized asset. Under ASC 825-10, the Company has elected to carry securitized debt at fair value. (I) When-Issued/Delayed Delivery Securities: The Company may purchase or sell securities on a when-issued or delayed delivery basis. Securities purchased or sold on a when-issued basis are traded for delivery beyond the normal settlement date at a stated price or yield, and no income accrues to the purchaser prior to settlement. Purchasing or selling securities on a when-issued or delayed delivery basis involves the risk that the market price or yield at the time of settlement may be lower or higher than the agreed-upon price or yield, in which case a realized loss may be incurred. The Company transacts in the forward settling TBA market. The Company typically does not take delivery of TBAs, but rather settles the associated receivable and payable with its trading counterparties on a net basis. Transactions with the same counterparty for the same TBA that result in a reduction of the position are treated as extinguished. The market value of the securities that the Company is required to purchase pursuant to a TBA transaction may decline below the agreed-upon purchase price. Conversely, the market value of the securities that the Company is required to sell pursuant to a TBA transaction may increase above the agreed upon sale price. As part of its TBA activities, the Company may "roll" its TBA positions, whereby the Company may sell (buy) securities for delivery (receipt) in an earlier month and simultaneously contract to repurchase (sell) similar, but not identical, securities at an agreed-upon price on a fixed date in a later month (with the later-month price typically lower than the earlier-month price). The Company accounts for its TBA transactions (including those related to TBA rolls) as purchases and sales. (J) REO: When the Company obtains possession of real property in connection with a foreclosure or similar action, the Company de-recognizes

Valuation

Valuation	6 Months Ended
Valuation	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Valuation	Valuation The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at June 30, 2015 : Description Level 1 Level 2 Level 3 Total Assets: (In thousands) Cash equivalents $ 50,000 $ — $ — $ 50,000 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,119,020 $ 30,385 $ 1,149,405 Private label residential mortgage-backed securities — 225,753 160,046 385,799 Private label commercial mortgage-backed securities — — 49,834 49,834 Commercial mortgage loans — — 55,310 55,310 Residential mortgage loans — — 20,929 20,929 Collateralized loan obligations — — 98,388 98,388 Consumer loans and asset-backed securities backed by consumer loans — — 52,457 52,457 Corporate debt — — 26,278 26,278 Real estate owned — — 9,502 9,502 Private corporate equity investments — — 22,349 22,349 Total investments, at fair value — 1,344,773 525,478 1,870,251 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 9,449 9,449 Credit default swaps on corporate bond indices — 61,542 — 61,542 Credit default swaps on asset-backed indices — 2,594 — 2,594 Interest rate swaps — 15,021 — 15,021 Total return swaps — 1 247 248 Description Level 1 Level 2 Level 3 Total Assets (continued): (In thousands) Swaptions $ — $ 719 $ — $ 719 Options — 564 — 564 Futures 236 — — 236 Forwards — 1,192 — 1,192 Warrants — — 100 100 Total financial derivatives–assets, at fair value 236 81,633 9,796 91,665 Repurchase agreements — 53,788 — 53,788 Total investments and financial derivatives–assets, at fair value and repurchase agreements $ 236 $ 1,480,194 $ 535,274 $ 2,015,704 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (1,119,975 ) $ — $ (1,119,975 ) Government debt — (63,409 ) — (63,409 ) Total investments sold short, at fair value — (1,183,384 ) — (1,183,384 ) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices — (24,400 ) — (24,400 ) Credit default swaps on corporate bonds — (320 ) — (320 ) Credit default swaps on asset-backed indices — (6,507 ) — (6,507 ) Credit default swaps on asset-backed securities — — (280 ) (280 ) Interest rate swaps — (9,303 ) — (9,303 ) Total return swaps — (16 ) (1,903 ) (1,919 ) Options — (1,334 ) — (1,334 ) Swaptions — (664 ) — (664 ) Futures (633 ) — — (633 ) Forwards — (205 ) — (205 ) Loan purchase commitments — — — — Total financial derivatives–liabilities, at fair value (633 ) (42,749 ) (2,183 ) (45,565 ) Securitized debt (1) — — (655 ) (655 ) Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value $ (633 ) $ (1,226,133 ) $ (2,838 ) $ (1,229,604 ) (1) The asset subject to the resecuritization had a fair value of $2.1 million as of June 30, 2015 , which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities. There were no transfers of financial instruments between Level 1 and Level 2 during the six month period ended June 30, 2015 . As of June 30, 2015, the Company had residential mortgage loans that were in the process of foreclosure with a fair value of $12.0 million . The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of June 30, 2015 : Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities (1) $ 107,222 Market Quotes Non Binding Third-Party Valuation $ 1.79 $ 117.41 $ 68.87 Collateralized loan obligations 87,996 Market Quotes Non Binding Third-Party Valuation $ 22.15 $ 134.50 $ 95.92 Private label residential mortgage-backed securities 52,169 Discounted Cash Flows Yield 6.2 % 45.8 % 11.3 % Projected Collateral Prepayments 7.2 % 75.4 % 36.8 % Projected Collateral Losses 2.8 % 31.6 % 15.7 % Projected Collateral Recoveries 3.2 % 18.4 % 10.8 % Projected Collateral Scheduled Amortization 7.5 % 70.8 % 36.7 % 100.0 % Private label commercial mortgage-backed securities 17,456 Discounted Cash Flows Yield 11.7 % 36.9 % 20.2 % Projected Collateral Losses 0.0 % 4.3 % 1.1 % Projected Collateral Recoveries 0.0 % 18.2 % 4.5 % Projected Collateral Scheduled Amortization 77.5 % 100.0 % 94.4 % 100.0 % Corporate debt and non-exchange traded corporate equity 24,023 Market Quotes Non Binding Third-Party Valuation $ 4.33 $ 150.00 $ 74.47 Corporate debt and warrants 8,500 Discounted Cash Flows Yield 15.0 % 15.0 % 15.0 % Collateralized loan obligations 10,392 Discounted Cash Flows Yield 6.7 % 60.4 % 28.6 % Projected Collateral Prepayments 40.7 % 70.4 % 54.3 % Projected Collateral Losses 1.9 % 26.6 % 13.3 % Projected Collateral Recoveries 0.9 % 10.9 % 5.7 % Projected Collateral Scheduled Amortization 20.4 % 34.1 % 26.7 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans 52,457 Discounted Cash Flows Yield 6.8 % 17.0 % 11.6 % Private label commercial mortgage-backed securities 32,378 Market Quotes Non Binding Third-Party Valuation $ 5.60 $ 98.06 $ 51.82 Performing commercial mortgage loans 43,900 Discounted Cash Flows Yield 9.8 % 17.8 % 11.9 % Non-performing commercial mortgage loans 11,410 Discounted Cash Flows Yield 12.4 % 16.1 % 14.0 % Months to Resolution 3.0 10.5 7.3 Non-performing residential mortgage loan pools and real estate owned 30,431 Discounted Cash Flows Yield 6.1 % 12.0 % 7.3 % Months to Resolution 4.1 109.7 27.4 (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Agency interest only residential mortgage-backed securities $ 26,390 Market Quotes Non Binding Third-Party Valuation $ 3.33 $ 23.21 $ 12.05 Agency interest only residential mortgage-backed securities 3,995 Option Adjusted Spread ("OAS") LIBOR OAS (2) (186 ) 780 596 Projected Collateral Prepayments 21.4 % 100.0 % 68.0 % Projected Collateral Scheduled Amortization 0.0 % 78.6 % 32.0 % 100.0 % Credit default swaps on asset-backed securities 9,169 Net Discounted Cash Flows Projected Collateral Prepayments 26.1 % 57.1 % 31.4 % Projected Collateral Losses 15.4 % 36.4 % 28.1 % Projected Collateral Recoveries 7.0 % 17.4 % 12.9 % Projected Collateral Scheduled Amortization 16.5 % 31.9 % 27.6 % 100.0 % Total return swaps (1,656 ) Market Quotes Non Binding Third-Party Valuation (3) $ 50.33 $ 100.75 $ 60.90 Non-exchange traded equity investments in commercial mortgage-related private partnerships 10,966 Discounted Cash Flows Yield 10.0 % 16.0 % 12.0 % Expected Holding Period (Months) 12.0 20.9 14.3 Non-exchange traded preferred and common equity investment in mortgage-related entities 5,238 Recent Transactions Transaction Price/Enterprise Value N/A N/A N/A (1) Includes securitized debt with a fair value of $0.7 million as of June 30, 2015 . (2) Shown in basis points. (3) Represents valuations on underlying assets. Third-party non-binding valuations are validated by comparing such valuations to internally generated prices based on the Company's models and to recent trading activity in the same or similar instruments. For those instruments valued using discounted and net discounted cash flows, collateral prepayments, losses, recoveries, and scheduled amortization are projected over the remaining life of the collateral and expressed as a percentage of the collateral's current principal balance. Averages are weighted based on the fair value of the related instrument. In the case of credit default swaps on asset-backed securities, averages are weighted based on each instrument's bond equivalent value. Bond equivalent value represents the investment amount of a corresponding position in the reference obligation, calculated as the difference between the outstanding principal balance of the underlying reference obligation and the fair value, inclusive of accrued interest, of the derivative contract. For those assets valued using the LIBOR Option Adjusted Spread ("OAS") valuation methodology, cash flows are projected using the Company's models over multiple interest rate scenarios, and these projected cash flows are then discounted using the LIBOR rates implied by each interest rate scenario. The LIBOR OAS of an asset is then computed as the unique constant yield spread that, when added to all LIBOR rates in each interest rate scenario generated by the model, will equate (a) the expected present value of the projected asset cash flows over all model scenarios to (b) the actual current market price of the asset. LIBOR OAS is therefore model-dependent. Generally speaking, LIBOR OAS measures the additional yield spread over LIBOR that an asset provides at its current market price after taking into account any interest rate options embedded in the asset. The Company considers the expected timeline to resolution in the determination of fair value for its non-performing commercial and residential loans. Material changes in any of the inputs above in isolation could result in a significant change to reported fair value measurements. Additionally, fair value measurements are impacted by the interrelationships of these inputs. For example, for instruments subject to prepayments and credit losses, such as non-Agency RMBS and consumer loans and ABS backed by consumer loans, a higher expectation of collateral prepayments will generally be accompanied by a lower expectation of collateral losses. Conversely, higher losses will generally be accompanied by lower prepayments. Because the Company's credit default swaps on asset-backed security holdings represent credit default swap contracts whereby the Company has purchased credit protection, such credit default swaps on asset-backed securities generally have the directionally opposite sensitivity to prepayments, losses, and recoveries as compared to the Company's long securities holdings. Prepayments do not represent a significant input for the Company's commercial mortgage-backed securities and commercial mortgage loans. Losses and recoveries do not represent a significant input for the Company's Agency RMBS interest only securities, given the guarantee of the issuing government agency or government-sponsored enterprise. The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at December 31, 2014 : (In thousands) Description Level 1 Level 2 Level 3 Total Assets: Cash equivalents (2) $ 100,000 $ — $ — $ 100,000 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,258,699 $ 31,385 $ 1,290,084 U.S. Treasury securities — 1,636 — 1,636 Private label residential mortgage-backed securities — 284,748 274,369 559,117 Private label commercial mortgage-backed securities — — 53,311 53,311 Commercial mortgage loans — — 28,309 28,309 Residential mortgage loans — — 27,482 27,482 Collateralized loan obligations (2) — — 121,994 121,994 Consumer loans and asset-backed securities backed by consumer loans (2) — — 24,294 24,294 Corporate debt — — 42,708 42,708 Real estate owned — — 8,635 8,635 Private corporate equity investments — — 14,512 14,512 Total investments, at fair value — 1,545,083 626,999 2,172,082 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 11,387 11,387 Credit default swaps on corporate bond indices — 35,865 — 35,865 Credit default swaps on asset-backed indices — 1,881 — 1,881 Interest rate swaps — 28,654 — 28,654 Total return swaps — 8 — 8 Swaptions — 344 — 344 Options — 645 — 645 Futures 261 — — 261 Forwards — 884 — 884 Warrants — — 100 100 Total financial derivatives–assets, at fair value 261 68,281 11,487 80,029 Repurchase agreements — 172,001 — 172,001 Total investments and financial derivatives–assets, at fair value and repurchase agreements $ 261 $ 1,785,365 $ 638,486 $ 2,424,112 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (1,209,539 ) $ — $ (1,209,539 ) Government debt — (55,315 ) — (55,315 ) Common stock (26,516 ) — — (26,516 ) Total investments sold short, at fair value (26,516 ) (1,264,854 ) — (1,291,370 ) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices — (28,588 ) — (28,588 ) Credit default swaps on corporate bonds — (2,953 ) — (2,953 ) Credit default swaps on asset-backed indices — (4,410 ) — (4,410 ) Credit default swaps on asset-backed securities — — (239 ) (239 ) Description Level 1 Level 2 Level 3 Total Financial derivatives–liabilities, at fair value (continued)- Interest rate swaps $ — $ (29,405 ) $ — $ (29,405 ) Total return swaps — (21 ) — (21 ) Options — (146 ) — (146 ) Swaptions — (137 ) — (137 ) Futures (81 ) — — (81 ) Forwards — (136 ) — (136 ) Total financial derivatives–liabilities, at fair value (81 ) (65,796 ) (239 ) (66,116 ) Securitized debt (1) — — (774 ) (774 ) Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value $ (26,597 ) $ (1,330,650 ) $ (1,013 ) $ (1,358,260 ) (1) The asset subject to the resecuritization had a fair value of $2.2 million as of December 31, 2014, which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities. (2) Conformed to current period presentation. There were no transfers of financial instruments between Level 1 and Level 2 during the year ended December 31, 2014 . The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2014: Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities (1) $ 201,373 Market Quotes Non Binding Third-Party Valuation $ 1.83 $ 119.58 $ 73.58 Collateralized loan obligations (3) 121,674 Market Quotes Non Binding Third-Party Valuation 21.50 137.00 94.85 Asset-backed securities backed by consumer loans (3) 1,344 Market Quotes Non Binding Third-Party Valuation 100.00 100.00 100.00 Private label residential mortgage-backed securities 72,222 Discounted Cash Flows Yield 3.0 % 13.6 % 7.0 % Projected Collateral Prepayments 6.7 % 100.0 % 45.6 % Projected Collateral Losses 0.0 % 44.5 % 11.3 % Projected Collateral Recoveries 0.0 % 22.4 % 8.0 % Projected Collateral Scheduled Amortization 0.0 % 86.4 % 35.1 % 100.0 % Private label commercial mortgage-backed securities 12,392 Discounted Cash Flows Yield 12.0 % 51.1 % 23.7 % Projected Collateral Losses 0.1 % 2.5 % 0.7 % Projected Collateral Recoveries 0.9 % 13.5 % 6.2 % Projected Collateral Scheduled Amortization 85.3 % 99.0 % 93.1 % 100.0 % Corporate debt, non-exchange traded corporate equity, and warrants 45,668 Discounted Cash Flows Yield 7.5 % 24.3 % 13.3 % Non Binding Third-Party Valuation 73.00 108.00 95.08 Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (continued) (In thousands) Collateralized loan obligations (3) $ 320 Discounted Cash Flows Yield 14.4 % 14.4 % 14.4 % Projected Collateral Prepayments 62.7 % 62.7 % 62.7 % Projected Collateral Losses 4.0 % 4.0 % 4.0 % Projected Collateral Recoveries 1.7 % 1.7 % 1.7 % Projected Collateral Scheduled Amortization 31.6 % 31.6 % 31.6 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans (3) 22,950 Discounted Cash Flows Yield 0.0 % 12.0 % 9.1 % Private label commercial mortgage-backed securities 40,919 Market Quotes Non Binding Third-Party Valuation $ 5.62 $ 103.25 $ 66.56 Performing commercial mortgage loans 21,328 Discounted Cash Flows Yield 9.2 % 13.1 % 10.3 % Non-performing commercial mortgage loans 6,981 Discounted Cash Flows Yield 15.3 % 20.1 % 16.4 % Months to Resolution 0.5 10.5 8.2 Non-performing residential mortgage loan pools and real estate owned 36,117 Discounted Cash Flows Yield 6.1 % 12.0 % 7.3 % Months to Resolution 4.1 79.1 24.6 Agency interest only residential mortgage-backed securities 22,928 Market Quotes Non Binding Third-Party Valuation $ 3.62 $ 24.86 $ 11.38 Agency interest only residential mortgage-backed securities 8,457 Option Adjusted Spread ("OAS") LIBOR OAS (2) (154 ) 1,796 359 Projected Collateral Prepayments 50.2 % 100.0 % 75.5 % Projected Collateral Scheduled Amortization 0.0 % 49.8 % 24.5 % 100.0 % Credit default swaps on asset-backed securities 11,148 Net Discounted Cash Flows Projected Collateral Prepayments 17.8 % 55.8 % 32.5 % Projected Collateral Losses 16.5 % 37.7 % 29.7 % Projected Collateral Recoveries 7.7 % 18.5 % 12.8 % Projected Collateral Scheduled Amortization 15.9 % 43.4 % 25.0 % 100.0 % Non-exchange traded preferred equity investment in commercial mortgage-related private partnership 6,241 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % Expected Holding Period (Months) 17 17 17 Non-exchange traded preferred and common equity investment in mortgage-related entities 5,411 Recent Transactions Transaction Price N/A N/A N/A (1) Includes securitized debt with a fair value of $0.8 million as of December 31, 2014. (2) Shown in basis points. (3) Conformed to current period presentation. For those instruments valued using discounted and net discounted cash flows, collateral prepayments, losses, recoveries, and scheduled amortization are projected over the remaining life of the collateral and expressed as a percentage of the collateral's current principal balance. Averages are weighted based on the fair value of the related instrument. In the case of credit default swaps on asset-backed securities, averages are weighted based on each instrument's bond equivalent value. Bond equivalent value represents the investment amount of a corresponding position in the reference obligation, calculated as the difference between the outstanding principal balance of the underlying reference obligation and the fair value, inclusive of accrued interest, of the derivative contract. For those assets valued using the LIBOR Option Adjusted Spread valuation methodology, cash flows are projected using the Company's models over multiple interest rate scenarios, and these projected cash flows are then discounted using the LIBOR rates implied by each interest rate scenario. The LIBOR OAS of an asset is then computed as the unique constant yield spread that, when added to all LIBOR rates in each interest rate scenario generated by the model, will equate (a) the expected present value of the projected asset cash flows over all model scenarios to (b) the actual current market price of the asset. LIBOR OAS is therefore model-dependent. Generally speaking, LIBOR OAS measures the additional yield spread over LIBOR that an asset provides at its current market price after taking into account any interest rate options embedded in the asset. Material changes in any of the inputs above in isolation could result in a significant change to reported fair value measurements. Additionally, fair value measurements are impacted by the interrelationships of these inputs. For example, a higher expectation of collateral prepayments will generally be accompanied by a lower expectation of collateral losses. Conversely, higher losses will generally be accompanied by lower prepayments. Because the Company's credit default swaps on asset-backed security holdings represent credit default swap contracts whereby the Company has purchased credit protection, such default swaps on asset-backed securities generally have the directionally opposite sensitivity to prepayments, losses, and recoveries as compared to the Company's long securities holdings. Prepayments do not represent a significant input for the Company's commercial mortgage-backed securities and commercial mortgage loans. Losses and recoveries do not represent a significant input for the Company's Agency RMBS interest only securities, given the guarantee of the issuing government agency or government-sponsored enterprise. The tables below include a roll-forward of the Company's financial instruments for the three and six month periods ended June 30, 2015 and 2014 (including the change in fair value), for financial instruments classified by the Company within Level 3 of the valuation hierarchy. Level 3—Fair Value Measurement Using Significant Unobservable Inputs: Three Month Period Ended June 30, 2015 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 26,335 $ (1,941 ) $ — $ 1,604 $ 6,317 $ (1,930 ) $ — $ — $ 30,385 Private label residential mortgage-backed securities 169,371 1,824 4,423 (40 ) 40,761 (55,420 ) 20,165 (21,038 ) 160,046 Private label commercial mortgage-backed securities 52,214 556 (91 ) (792 ) 4,538 (6,591 ) — — 49,834 Commercial mortgage loans 38,918 736 — (637 ) 26,519 (10,226 ) — — 55,310 Residential mortgage loans 30,845 405 1,422 (215 ) 3,782 (15,310 ) — — 20,929 Collateralized loan obligations 88,847 149 (819 ) 252 39,110 (29,151 ) — — 98,388 Consumer loans and asset-backed securities backed by consumer loans 34,773 (1,701 ) — 225 25,082 (5,922 ) — — 52,457 Corporate debt 31,836 16 (78 ) (1,809 ) 1,025 (4,712 ) — — 26,278 Real estate owned 9,070 — 164 (10 ) 2,774 (2,496 ) — — 9,502 Private corporate equity investments 21,300 — 115 268 1,116 (450 ) — — 22,349 Total investments, at fair value 503,509 44 5,136 (1,154 ) 151,024 (132,208 ) 20,165 (21,038 ) 525,478 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 10,809 — (1,563 ) 1,056 3 (856 ) — — 9,449 Total return swaps 118 — 285 130 21 (307 ) — — 247 Warrants 100 — — — — — — — 100 Total financial derivatives– assets, at fair value 11,027 — (1,278 ) 1,186 24 (1,163 ) — — 9,796 Total investments and financial derivatives–assets, at fair value $ 514,536 $ 44 $ 3,858 $ 32 $ 151,048 $ (133,371 ) $ 20,165 $ (21,038 ) $ 535,274 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 (continued) Liabilities: Financial derivatives–liabilities, at fair value- Credit default swaps on asset-backed securities $ (239 ) $ — $ (23 ) $ (41 ) $ — $ 23 $ — $ — $ (280 ) Total return swaps (307 ) — 353 (1,596 ) (353 ) — — — (1,903 ) Total financial derivatives– liabilities, at fair value (546 ) — 330 (1,637 ) (353 ) 23 — — (2,183 ) Securitized debt: Securitized debt (669 ) — — 1 13 — — — (655 ) Total securitized debt (669 ) — — 1 13 — — — (655 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,215 ) $ — $ 330 $ (1,636 ) $ (340 ) $ 23 $ — $ — $ (2,838 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2015 , as well as Level 3 financial instruments disposed of by the Company during the three month period ended June 30, 2015 . For Level 3 financial instruments held by the Company at June 30, 2015 , change in net unrealized gain (loss) of $(0.6) million , $1.2 million , $(1.7) million , and $1 thousand , for the three month period ended June 30, 2015 relate to investments, financial derivatives–assets, financial derivatives–liabilities, and securitized debt, respectively. As of June 30, 2015 , the Company transferred $21.0 million of non-Agency RMBS from Level 3 to Level 2. These assets were transferred from Level 3 to Level 2 based on an increased volume of observed trading of these and similar assets. This increase in observed trading activity has led to greater price transparency for these assets, thereby making a Level 2 designation appropriate in the Company's view. However, changes in the volume of observable inputs for these assets, such as a decrease in the volume of observed trading, could impact price transparency, and thereby cause a change in the level designation for these assets in future periods. In addition, as of June 30, 2015 , the Company transferred $20.2 million of non-Agency RMBS from Level 2 to Level 3. These securities have exhibited indications of a reduced level of price transparency. Examples of such indications include wider spreads relative to similar securities and a reduction in observable transactions involving these and similar securities. Changes in these indications could impact price transparency, and thereby cause a change in the level designation in future periods. Three Month Period Ended June 30, 2014 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 41,375 $ (2,045 ) $ 135 $ (728 ) $ — $ (2,497 ) $ — $ — $ 36,240 Private label residential mortgage-backed securities 490,083 5,203 7,718 3,516 64,639 (85,257 ) — — 485,902 Private label commercial mortgage-backed securities 32,645 147 3,518 (1,979 ) 28,400 (34,684 ) — — 28,047 Commercial mortgage loans 44,005 521 871 169 3,980 (12,131 ) — — 37,415 Residential mortgage loans 23,566 — 359 1,214 1,695 (3,463 ) — — 23,371 Collateralized loan obligations 47,458 (812 ) 450 (492 ) 40,300 (5,589 ) — — 81,315 Real estate owned 97 — (10 ) (13 ) 1,658 (91 ) — — 1,641 Total investments, at fair value 679,229 3,014 13,041 1,687 140,672 (143,712 ) — — 693,931 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 (continued) Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 15,174 — (467 ) 586 417 (1,548 ) — — 14,162 Total financial derivatives– assets, at fair value 15,174 — (467 ) 586 417 (1,548 ) — — 14,162 Total investments and financial derivatives–assets, at fair value $ 694,403 $ 3,014 $ 12,574 $ 2,273 $ 141,089 $ (145,260 ) $ — $ — $ 708,093 Liabilities: Financial derivatives– liabilities, at fair value- Credit default swaps on asset-backed securities $ (350 ) $ — $ (20 ) $ — $ — $ 20 $ — $ — $ (350 ) Total financial derivatives– liabilities, at fair value (350 ) — (20 ) — — 20 — — (350 ) Securitized debt: Securitized debt (983 ) (5 ) — 1 62 — — — (925 ) Total securitized debt (983 ) (5 ) — 1 62 — — — (925 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,333 ) $ (5 ) $ (20 ) $ 1 $ 62 $ 20 $ — $ — $ (1,275 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2014 , as well as Level 3 financial instruments disposed of by the Company during the three month period ended June 30, 2014 . For Level 3 financial instruments held by the Company at June 30, 2014 , change in net unrealized gain (loss) of $6.0 million , $0.6 million , and $1 thousand for the three month period ended June 30, 2014 relate to investments, financial derivatives–assets, and securitized debt, respectively. Six Month Period Ended June 30, 2015 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 31,385 $ (3,947 ) $ 472 $ 1,508 $ 7,506 $ (6,539 ) $ — $ — $ 30,385 Private label residential mortgage-backed securities 274,369 4,692 11,397 (3,889 ) 58,464 (113,848 ) 6,490 (77,629 ) 160,046 Private label commercial mortgage-backed securities 53,311 1,928 523 (2,692 ) 20,132 (23,368 ) — — 49,834 Commercial mortgage loans 28,309 1,275 — (620 ) 50,810 (24,464 ) — — 55,310 Residential mortgage loans 27,482 848 1,664 (70 ) 9,758 (18,753 ) — — 20,929 Collateralized loan obligations 123,338 (4,473 ) (48 ) (1,453 ) 49,587 (68,563 ) — — 98,388 Consumer loans and asset-backed securities backed by consumer loans 22,950 (3,419 ) — 776 41,139 (8,989 ) — — 52,457 Corporate debt 42,708 47 108 (2,390 ) 12,630 (26,825 ) — — 26,278 Real estate owned 8,635 — 248 527 5,245 (5,153 ) — — 9,502 Private corporate equity investments 14,512 — 116 498 7,688 (465 ) — — 22,349 Total investments, at fair value 626,999 (3,049 ) 14,480 (7,805 ) 262,959 (296,967 ) 6,490 (77,629 ) 525,478 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 11,387 — (1,162 ) 701 25 (1,502 ) — — 9,449 Total return swaps — — 285 248 21 (307 ) — — 247 Warrants 100 — — — — — — — 100 Total financial derivatives– assets, at fair value 11,487 — (877 ) 949 46 (1,809 ) — — 9,796 Total investments and financial derivatives–assets, at fair value $ 638,486 $ (3,049 ) $ 13,603 $ (6,856 ) $ 263,005 $ (298,776 ) $ 6,490 $ (77,629 ) $ 535,274 Liabilities: Financial derivatives–liabilities, at fair value- Credit default swaps on asset-backed securities $ (239 ) $ — $ (42 ) $ (41 ) $ — $ 42 $ — $ — $ (280 ) Total return swaps — — 353 (1,903 ) (353 ) — — — (1,903 ) Total financial derivatives– liabilities, at fair value (239 ) — 311 (1,944 ) (353 ) 42 — — (2,183 ) Securitized debt: Securitized debt (774 ) (2 ) — 20 101 — — — (655 ) Total securitized debt (774 ) (2 ) — 20 101 — — — (655 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,013 ) $ (2 ) $ 311 $ (1,924 ) $ (252 ) $ 42 $ — $ — $ (2,838 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2015 , as well as Level 3 financial instruments disposed of by the Company during the six month period ended June 30, 2015 . For Level 3 financial instruments held by the Company at June 30, 2015 , change in net unrealized gain (loss) of $(1.0) million , $1.0 million , $(1.9) million , and $20 thousand , for the six month period ended June 30, 2015 relate to investments, financial derivatives–assets, financial derivatives–liabilities, and securitized debt, respectively. As of June 30, 2015, the Company transferred $77.6 million of non-Agency RMBS from Level 3 to Level 2. These assets were transferred from Level 3 to Level 2 based on an increased volume of observed trading of these and similar assets. This increase in observed trading activity has led to greater price transparency for these assets, thereby making a Level 2 designation appropriate in the Company's view. However, changes in the volume of observable inputs for these assets, such as a decrease in the volume of observed trading, could impact price transparency, and thereby cause a change in the level designation for these assets in future periods. In addition, as of June 30, 2015, the Company transferred $6.5 million of non-Agency RMBS from Level 2 to Level 3. Since year end, these securities have exhibited indications of a reduced level of price transparency. Examples of such indications include wider spreads relative to similar securities and a reduction in observable transactions involving these and similar securities. Changes in these indications could impact price transparency, and thereby cause a change in the level designation in future periods. Six Month Period Ended June 30, 2014 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 40,504 $ (4,334 ) $ 170 $ 23 $ 2,554 $ (2,677 ) $ — $ — $ 36,240 Private label residential mortgage-backed securities 580,772 10,589 31,178 (9,336 ) 154,223 (281,524 ) — — 485,902 Private label commercial mortgage-backed securities 32,994 352 4,391 (464 ) 66,169 (75,395 ) — — 28,047 Commercial mortgage l

To Be Announced RMBS

To Be Announced RMBS	6 Months Ended
To Be Announced RMBS	Jun. 30, 2015
To Be Announced RMBS [Abstract]
To Be Announced RMBS	To Be Announced RMBS In addition to investing in pools of Agency RMBS, the Company transacts in the forward settling TBA market. Pursuant to these TBA transactions, the Company agrees to purchase or sell, for future delivery, Agency RMBS with certain principal and interest terms and certain types of underlying collateral, but the particular Agency RMBS to be delivered is not identified until shortly before the TBA settlement date. TBAs are liquid and have quoted market prices and represent the most actively traded class of MBS. The Company accounts for its TBAs as purchase and sales and uses TBAs primarily for hedging purposes, typically in the form of short positions. However, the Company may also invest in TBAs for speculative purposes, including holding long positions. Overall, the Company typically holds a net short position. The Company does not generally take delivery of TBAs; rather, it settles the associated receivable and payable with its trading counterparties on a net basis. Transactions with the same counterparty for the same TBA that result in a reduction of the position are treated as extinguished. The fair value of the Company's positions in long TBA contracts are reflected on the Consolidated Condensed Schedule of Investments under TBA–Fixed Rate Agency Securities and the fair value of the Company's positions in TBA contracts sold short are reflected on the Consolidated Condensed Schedule of Investments under TBA–Fixed Rate Agency Securities Sold Short. The payables and receivables related to the Company's TBA securities are included on the Consolidated Statement of Assets, Liabilities, and Equity in Payable for securities purchased and Receivable for securities sold, respectively. The below table details TBA assets, liabilities, and the respective related payables and receivables as of June 30, 2015 and December 31, 2014: As of June 30, 2015 December 31, 2014 Assets: (In thousands) TBA securities, at fair value (Current principal: $25,090 and $71,598, respectively) $ 24,933 $ 72,410 Receivable for securities sold relating to unsettled TBA sales 1,122,026 1,205,779 Liabilities: TBA securities sold short, at fair value (Current principal: -$1,063,670 and -$1,135,218, respectively) $ (1,119,975 ) $ (1,209,539 ) Payable for securities purchased relating to unsettled TBA purchases (24,964 ) (71,832 ) Net short TBA securities, at fair value (1,095,042 ) (1,137,129 )

Financial Derivatives

Financial Derivatives	6 Months Ended
Financial Derivatives	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivatives	Financial Derivatives Gains and losses on the Company's derivative contracts for the three and six month periods ended June 30, 2015 and 2014 are summarized in the tables below: Three and Six Month Periods Ended June 30, 2015 : Three Month Period Ended June 30, 2015 Six Month Period Ended June 30, 2015 Derivative Type Primary Risk Exposure Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (1) Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (1) (In thousands) Financial derivatives–assets Credit default swaps on asset-backed securities Credit $ (1,563 ) $ 1,056 $ (1,162 ) $ 701 Credit default swaps on asset-backed indices Credit (616 ) 588 (390 ) (664 ) Credit default swaps on corporate bond indices Credit 1,736 (2,273 ) (1,277 ) (1,445 ) Total return swaps Equity Market/Credit 2,256 130 4,066 240 Interest rate swaps Interest Rates 7,521 (7,955 ) 26,980 (14,943 ) Futures Interest Rates/Equity Market 853 (781 ) 3,251 43 Forwards Currency 235 1,191 7,520 308 Other Credit/ 3,172 729 (88 ) 1,289 13,594 (7,315 ) 38,900 (14,471 ) Financial derivatives–liabilities Credit default swaps on asset-backed securities Credit (23 ) (41 ) (42 ) (41 ) Credit default swaps on asset-backed indices Credit (28 ) 2 117 208 Credit default swaps on corporate bond indices Credit (2,607 ) 4,773 (483 ) 2,116 Credit default swaps on corporate bonds Credit (271 ) 292 (939 ) 777 Total return swaps Equity Market/Credit (6,173 ) (1,594 ) (6,631 ) (1,897 ) Interest rate swaps (2) Interest Rates (10,731 ) 16,419 (35,928 ) 20,740 Futures Interest Rates/Equity Market (752 ) (209 ) (784 ) (620 ) Forwards Currency (4,555 ) 513 (6,044 ) (69 ) Other Credit/ (2,467 ) 709 (2,217 ) 1,657 (27,607 ) 20,864 (52,951 ) 22,871 Total $ (14,013 ) $ 13,549 $ (14,051 ) $ 8,400 (1) Includes foreign currency translation on derivatives in the amount of $0.9 million and $0.1 million , for the three and six month periods ended June 30, 2015, respectively, which is included on the Consolidated Statement of Operations in Change in net unrealized gain (loss) on foreign currency translation. (2) Includes a $1.5 million reimbursement from a third party. Three and Six Month Periods Ended June 30, 2014 : Three Month Period Ended June 30, 2014 Six Month Period Ended June 30, 2014 Derivative Type Primary Risk Exposure Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (In thousands) Financial derivatives–assets Credit default swaps on asset-backed securities Credit $ (467 ) $ 586 $ 724 $ (625 ) Credit default swaps on asset-backed indices Credit (814 ) (106 ) (2,116 ) 39 Credit default swaps on corporate bond indices Credit 1,460 (460 ) 2,112 (775 ) Total return swaps Equity Market 1,842 10 7,767 20 Interest rate swaps Interest Rates (1,520 ) 1,949 (48 ) (4,131 ) Futures Interest Rates 926 138 966 2,573 Forwards Currency 494 (115 ) 505 52 Other Credit/ Interest Rates 55 313 108 601 1,976 2,315 10,018 (2,246 ) Financial derivatives–liabilities Credit default swaps on asset-backed securities Credit (20 ) — (39 ) — Credit default swaps on asset-backed indices Credit (161 ) 361 2,442 (1,125 ) Credit default swaps on corporate bond indices Credit (1,956 ) (656 ) (5,760 ) 3,915 Credit default swaps on corporate bonds Credit 140 (225 ) 140 (225 ) Total return swaps Equity Market 442 (12 ) (975 ) 24 Interest rate swaps Interest Rates (92 ) (7,244 ) (3,856 ) (7,713 ) Futures Interest Rates (153 ) (197 ) (26 ) (335 ) Forwards Currency (437 ) (272 ) (929 ) (276 ) Other Credit/ Interest Rates (556 ) 159 (613 ) (230 ) (2,793 ) (8,086 ) (9,616 ) (5,965 ) Total $ (817 ) $ (5,771 ) $ 402 $ (8,211 ) The tables below detail the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the six month period ended June 30, 2015 and the year ended December 31, 2014: Derivative Type Six Month Period Ended June 30, 2015 Year Ended December 31, 2014 (In thousands) Interest rate swaps $ 2,716,471 $ 2,227,315 Credit default swaps 785,522 552,411 Total return swaps 201,734 55,108 Futures 1,046,384 738,830 Options 693,320 926,369 Forwards 77,054 42,143 Warrants 1,554 120 Loan purchase commitments 240 — From time to time the Company enters into credit derivative contracts for which the Company sells credit protection ("written credit derivatives"). As of June 30, 2015 and December 31, 2014, all of the Company's open written credit derivatives were credit default swaps on either mortgage/asset-backed indices (ABX and CMBX indices) or corporate bond indices (CDX), collectively referred to as credit indices, or on individual corporate bonds, for which the Company receives periodic payments at fixed rates from credit protection buyers, and is obligated to make payments to the credit protection buyer upon the occurrence of a "credit event" with respect to underlying reference assets. Written credit derivatives held by the Company at June 30, 2015 and December 31, 2014, are summarized below: Credit Derivatives Amount at June 30, 2015 Amount at (In thousands) Fair Value of Written Credit Derivatives, Net $ 55,097 $ 27,741 Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) $ (2,914 ) $ (3,287 ) Notional Amount of Written Credit Derivatives (2) $ (493,986 ) $ (341,014 ) Notional Amount of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) $ 40,728 $ 54,874 (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional amount of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional amount of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty. A credit default swap on a credit index or a corporate bond typically terminates at the stated maturity date in the case of corporate indices or bonds, or, in the case of ABX and CMBX indices, the date that all of the reference assets underlying the index are paid off in full, retired, or otherwise cease to exist. Implied credit spreads may be used to determine the market value of such contracts and are reflective of the cost of buying/selling credit protection. Higher spreads would indicate a greater likelihood that a seller will be obligated to perform ( i.e. , make payment) under the contract. In situations where the credit quality of the underlying reference assets has deteriorated, the percentage of notional values paid up front ("points up front") is frequently used as an indication of credit risk. Credit protection sellers entering the market would expect to be paid points up front corresponding to the approximate fair value of the contract. For the Company's written credit derivatives that were outstanding at both June 30, 2015 and December 31, 2014, periodic payment rates ranged between 15 and 500 basis points. Total net up-front payments received relating to written credit derivatives outstanding at June 30, 2015 and December 31, 2014 were $56.9 million and $28.9 million , respectively.

Borrowings under Reverse Repurc

Borrowings under Reverse Repurchase Agreements	6 Months Ended
Borrowings under Reverse Repurchase Agreements	Jun. 30, 2015
Borrowings under Reverse Repurchase Agreements [Abstract]
Borrowings under Reverse Repurchase Agreements	360 Days 109,528 2.44 % 450 149,601 2.41 % 631 $ 1,360,408 0.76 % 132 $ 1,669,433 0.65 % 105 Reverse repurchase agreements involving underlying investments that the Company sold prior to period end, for settlement following period end, are shown using their original maturity dates even though such reverse repurchase agreements may be expected to be terminated early upon settlement of the sale of the underlying investment. Not included above are reverse repurchase agreements that the Company may have entered into prior to period end for which delivery of the borrowed funds is not scheduled until after period end in the amount of $23.5 million and $50.1 million as of June 30, 2015 and December 31, 2014, respectively. Of our total borrowings outstanding as of June 30, 2015 , approximately $1.091 billion relates to our Agency RMBS holdings. The remaining outstanding borrowings relate to our non-Agency MBS, CLOs, and corporate debt. Of our total borrowings outstanding as of December 31, 2014, approximately $1.146 billion relates to our Agency holdings. The remaining outstanding borrowings relate to our non-Agency MBS, CLOs, and corporate debt. As of June 30, 2015 and December 31, 2014, the fair value of investments transferred as collateral under outstanding borrowings under reverse repurchase agreements was $1.56 billion and $1.93 billion , respectively. Collateral transferred under outstanding borrowings as of June 30, 2015 include investments in the amount of $34.7 million that were sold prior to period end but for which such sale had not yet settled. In addition the Company posted net cash collateral of $38.4 million and additional securities with a fair value of $17.0 million as of June 30, 2015 as a result of margin calls from various counterparties. Collateral transferred under outstanding borrowings as of December 31, 2014 include investments in the amount of $145.5 million that were sold prior to period end but for which such sale had not yet settled. In addition, the Company posted net cash collateral of $14.2 million and additional securities with a fair value of $12.5 million as of December 31, 2014 as a result of margin calls from various counterparties." id="sjs-B4">Borrowings under Reverse Repurchase Agreements The Company enters into reverse repurchase agreements. A reverse repurchase agreement involves the sale of an asset to a counterparty together with a simultaneous agreement to repurchase the transferred asset or similar asset from such counterparty at a future date. The Company accounts for its reverse repurchase agreements as collateralized borrowings, with the transferred assets effectively serving as collateral for the related borrowing. The Company's reverse repurchase agreements typically range in term from 30 to 180 days. The principal economic terms of each reverse repurchase agreement—such as loan amount, interest rate, and maturity date—are typically negotiated on a transaction-by-transaction basis. Other terms and conditions, such as relating to events of default, are typically governed under the Company's master repurchase agreements. Absent an event of default, the Company maintains beneficial ownership of the transferred securities during the term of the reverse repurchase agreement and receives the related principal and interest payments. Interest rates on these borrowings are generally fixed based on prevailing rates corresponding to the terms of the borrowings, and interest is paid at the termination of the reverse repurchase agreement at which time the Company may enter into a new reverse repurchase agreement at prevailing market rates with the same counterparty, repay that counterparty and possibly negotiate financing terms with a different counterparty, or choose to no longer finance the related asset. In response to a decline in the fair value of the transferred securities, whether as a result of changes in market conditions, security paydowns, or other factors, reverse repurchase agreement counterparties will typically make a margin call, whereby the Company will be required to post additional securities and/or cash as collateral with the counterparty in order to re-establish the agreed-upon collateralization requirements. In the event of increases in fair value of the transferred securities, the Company can generally require the counterparty to post collateral with it in the form of cash or securities. The Company is generally permitted to sell or re-pledge any securities posted by the counterparty as collateral; however, upon termination of the reverse repurchase agreement the Company must return to the counterparty the same security that had been posted. The contractual amount (loan amount) of the Company's reverse repurchase agreements approximates their fair value, as the debt is short-term in nature. In September 2014, the Company entered into a $150 million "non-mark-to-market" reverse repo facility which provides financing for certain types of non-Agency assets. In March 2016 the facility converts to a rolling facility with a six month cancellation notice period and automatic termination in September 2017. Under the terms of the facility, no additional collateral is required to be posted by the Company based on changes in market values of the underlying assets; however, all payments and prepayments of principal received on financed assets are applied to reduce the amount outstanding under the facility. At any given time, the Company seeks to have its outstanding borrowings under reverse repurchase agreements with several different counterparties in order to reduce the exposure to any single counterparty. The Company had outstanding borrowings under reverse repurchase agreements with seventeen counterparties as of June 30, 2015 and sixteen counterparties as of December 31, 2014. At June 30, 2015 , approximately 30% of open reverse repurchase agreements were with one counterparty. At December 31, 2014, approximately 23% of open reverse repurchase agreements were with one counterparty. As of June 30, 2015 remaining days to maturity on the Company's open reverse repurchase agreements ranged from 6 to 450 days and from 2 to 631 days as of December 31, 2014. Interest rates on the Company's open reverse repurchase agreements ranged from 0.00% to 2.54% as of June 30, 2015 and from (1.50)% to 2.42% as of December 31, 2014. The negative interest rate at December 31, 2014 was related to reverse repurchase agreements on U.S. Treasury securities. The following table details the Company's outstanding borrowings under reverse repurchase agreements by remaining maturity as of June 30, 2015 and December 31, 2014: (In thousands) June 30, 2015 December 31, 2014 Weighted Average Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Outstanding Interest Rate Remaining Days to Maturity 30 Days or Less $ 163,608 0.70 % 16 $ 715,194 0.22 % 14 31-60 Days 140,488 0.65 % 47 322,874 0.52 % 44 61-90 Days 260,762 0.57 % 76 289,276 0.52 % 71 91-120 Days 206,113 0.47 % 107 — — % — 121-150 Days 145,900 0.49 % 136 21,236 2.03 % 139 151-180 Days 312,866 0.59 % 164 123,484 1.25 % 162 181-360 Days 21,143 2.54 % 347 47,768 0.85 % 274 >360 Days 109,528 2.44 % 450 149,601 2.41 % 631 $ 1,360,408 0.76 % 132 $ 1,669,433 0.65 % 105 Reverse repurchase agreements involving underlying investments that the Company sold prior to period end, for settlement following period end, are shown using their original maturity dates even though such reverse repurchase agreements may be expected to be terminated early upon settlement of the sale of the underlying investment. Not included above are reverse repurchase agreements that the Company may have entered into prior to period end for which delivery of the borrowed funds is not scheduled until after period end in the amount of $23.5 million and $50.1 million as of June 30, 2015 and December 31, 2014, respectively. Of our total borrowings outstanding as of June 30, 2015 , approximately $1.091 billion relates to our Agency RMBS holdings. The remaining outstanding borrowings relate to our non-Agency MBS, CLOs, and corporate debt. Of our total borrowings outstanding as of December 31, 2014, approximately $1.146 billion relates to our Agency holdings. The remaining outstanding borrowings relate to our non-Agency MBS, CLOs, and corporate debt. As of June 30, 2015 and December 31, 2014, the fair value of investments transferred as collateral under outstanding borrowings under reverse repurchase agreements was $1.56 billion and $1.93 billion , respectively. Collateral transferred under outstanding borrowings as of June 30, 2015 include investments in the amount of $34.7 million that were sold prior to period end but for which such sale had not yet settled. In addition the Company posted net cash collateral of $38.4 million and additional securities with a fair value of $17.0 million as of June 30, 2015 as a result of margin calls from various counterparties. Collateral transferred under outstanding borrowings as of December 31, 2014 include investments in the amount of $145.5 million that were sold prior to period end but for which such sale had not yet settled. In addition, the Company posted net cash collateral of $14.2 million and additional securities with a fair value of $12.5 million as of December 31, 2014 as a result of margin calls from various counterparties.

Base Management Fee And Incenti

Base Management Fee And Incentive Fee	6 Months Ended
Base Management Fee And Incentive Fee	Jun. 30, 2015
Base Management Fee And Incentive Fee [Abstract]
Base Management Fee and Incentive Fee	Base Management Fee and Incentive Fee The Company is party to a Management Agreement (which may be amended from time to time), pursuant to which the Manager manages the assets, operations, and affairs of the Company, in consideration of which the Company pays the Manager management and incentive fees. Effective March 13, 2014, the Board of Directors approved a Fifth Amended and Restated Management Agreement, between the Company and the Manager. The descriptions of the Base Management Fees and Incentive Fees are detailed below. Base Management Fees The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges. Summary information —For the three month periods ended June 30, 2015 and 2014, the total base management fee incurred was $2.9 million and $2.4 million , respectively. For the six month periods ended June 30, 2015 and 2014, the total base management fee incurred was $5.9 million and $4.7 million , respectively. Incentive Fees The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of June 30, 2015 there was no Loss Carryforward. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP Units issued in such issuance and the number of days that such issued shares and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting ( i.e. attributing any share and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP Units at the beginning of such fiscal quarter by (II) the average number of common shares and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of the average number of common shares, LTIP Units, and OP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares and OP Units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares. Summary information —The Company did not incur any expense for incentive fees for the three or six month periods ended June 30, 2015 and 2014, since on a rolling four quarter basis, the Company's income did not exceed the prescribed hurdle amount.

Long-Term Incentive Plan Units

Long-Term Incentive Plan Units	6 Months Ended
Long-Term Incentive Plan Units	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Long-Term Incentive Plan Units	Long-Term Incentive Plan Units Units held pursuant to the Individual LTIPs are generally exercisable by the holder at any time after vesting. Each unit is convertible into one common share. Costs associated with the Individual LTIPs are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with Individual LTIPs for both the three month periods ended June 30, 2015 and 2014 was $0.1 million . Total expense associated with Individual LTIPs for the six month periods ended June 30, 2015 and 2014 was $0.2 million and $0.1 million , respectively. Detailed below is a roll-forward of the Company's LTIP units outstanding for the three and six month periods ended June 30, 2015 and 2014: Three Month Period Ended June 30, 2015 Three Month Period Ended Manager Director/ Employee Total Manager Director/ Employee Total LTIP Units Outstanding (3/31/2015 and 3/31/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 Granted — — — — — — Exercised — — — — — — LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 29,859 404,859 375,000 20,314 395,314 Six Month Period Ended June 30, 2015 Six Month Period Ended Manager Director/ Employee Total Manager Director/ Employee Total LTIP Units Outstanding (12/31/2014 and 12/31/2013, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 Granted — — — — — — Exercised — — — — — — LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 29,859 404,859 375,000 20,314 395,314

Non-controlling Interests

Non-controlling Interests	6 Months Ended
Non-controlling Interests	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interest Disclosure [Text Block]	Non-controlling Interests Operating Partnership Non-controlling interests include the interest in the Operating Partnership owned by an affiliate of the Manager and certain related parties. On January 1, 2013, 212,000 OP Units were issued to the initial non-controlling interest member. Income allocated to the non-controlling interest is based on the non-controlling interest owners' ownership percentage of the Operating Partnership during the quarter, calculated using a daily weighted average of all common shares and convertible units outstanding during the quarter. Holders of OP Units are entitled to receive the same distributions that holders of common shares receive, and OP Units are convertible into common shares on a one-for-one basis, subject to specified limitations. OP Units are non-voting with respect to matters as to which common shareholders are entitled to vote. As of June 30, 2015 , non-controlling interest related to the outstanding 212,000 OP Units represented an interest of approximately 0.6% in the Operating Partnership. Joint Venture Interests Non-controlling interests also include the interests of joint venture partners in various consolidated subsidiaries of the Company. These subsidiaries hold the Company's investments in certain distressed commercial mortgage loans and REO. These joint venture partners participate in these subsidiaries on a pari passu basis with the Company at a predetermined percentage, and therefore participate in all income, expense, gains and losses of such subsidiaries. These joint venture partners make capital contributions to the subsidiaries as new approved investments are purchased by the subsidiaries, and are generally entitled to distributions when investments are sold or otherwise disposed of. As of June 30, 2015 these joint venture partners' interests in subsidiaries of the Company were $1.5 million , representing an approximately 5% interest in such subsidiaries. These joint venture partners' interests are not convertible into common shares of the Company or OP Units, nor are these joint venture partners entitled to receive distributions that holders of common shares of the Company receive.

Common Share Capitalization

Common Share Capitalization	6 Months Ended
Common Share Capitalization	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Common Share Capitalization	Common Share Capitalization During the three month periods ended June 30, 2015 and 2014, the Board of Directors authorized dividends totaling $0.65 per share and $0.77 per share, respectively. Total dividends paid during the three month periods ended June 30, 2015 and 2014 were $22.2 million and $20.1 million , respectively. During the six month periods ended June 30, 2015 and 2014, the Board of Directors authorized dividends totaling $1.30 per share and $1.54 per share, respectively. Total dividends paid during the six month periods ended June 30, 2015 and 2014 were $44.3 million and $40.1 million , respectively. Detailed below is a roll-forward of the Company's common shares outstanding for the three and six month periods ended June 30, 2015 and 2014: Three Month Three Month Six Month Six Month Common Shares Outstanding (3/31/2015, 3/31/2014, 12/31/2014, and 12/31/2013, respectively) 33,449,678 25,441,750 33,449,678 25,428,186 Share Activity: Shares issued in connection with incentive fee payment — — — 13,564 Common Shares Outstanding (6/30/2015, 6/30/2014, 6/30/2015, and 6/30/2014, respectively) 33,449,678 25,441,750 33,449,678 25,441,750 If all LTIP and OP Units that have been previously issued were to become fully vested and exchanged for common shares as of June 30, 2015 and 2014, the Company's issued and outstanding common shares would increase to 34,090,992 and 26,064,802 shares, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The components of the computation of basic and diluted EPS were as follows: Three Month Period Ended June 30, Six Month Period Ended June 30, 2015 2014 2015 2014 (In thousands except share amounts) Net increase in shareholders' equity resulting from operations $ 13,152 $ 20,947 $ 32,413 $ 43,582 Add: Net increase in equity resulting from operations attributable to the participating non-controlling interest (1) 82 172 202 357 Net increase in equity resulting from operations related to common shares, LTIP unit holders, and participating non-controlling interest 13,234 21,119 32,615 43,939 Net increase in shareholders' equity resulting from operations available to common share and LTIP unit holders: Net increase in shareholders' equity resulting from operations– common shares 12,985 20,614 32,002 42,889 Net increase in shareholders' equity resulting from operations– LTIP units 167 333 411 693 Dividends Paid (2) : Common shareholders (21,742 ) (19,590 ) (43,486 ) (39,180 ) LTIP unit holders (279 ) (317 ) (558 ) (633 ) Non-controlling interest (138 ) (163 ) (274 ) (327 ) Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest (22,159 ) (20,070 ) (44,318 ) (40,140 ) Undistributed (Distributed in excess of) earnings: Common shareholders (8,757 ) 1,024 (11,484 ) 3,709 LTIP unit holders (112 ) 16 (147 ) 60 Non-controlling interest (56 ) 9 (72 ) 30 Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest $ (8,925 ) $ 1,049 $ (11,703 ) $ 3,799 Weighted average shares outstanding (basic and diluted): Weighted average common shares outstanding 33,449,678 25,441,750 33,449,678 25,438,677 Weighted average participating LTIP units 429,314 411,052 429,314 411,052 Weighted average non-controlling interest units 212,000 212,000 212,000 212,000 Basic earnings per common share: Distributed $ 0.65 $ 0.77 $ 1.30 $ 1.54 Undistributed (Distributed in excess of) (0.26 ) 0.04 (0.34 ) 0.15 $ 0.39 $ 0.81 $ 0.96 $ 1.69 Diluted earnings per common share: Distributed $ 0.65 $ 0.77 $ 1.30 $ 1.54 Undistributed (Distributed in excess of) (0.26 ) 0.04 (0.34 ) 0.15 $ 0.39 $ 0.81 $ 0.96 $ 1.69 (1) For the three month periods ended June 30, 2015 and 2014, excludes net increase (decrease) in equity resulting from operations of $(11) thousand and $85 thousand , respectively attributable to joint venture partners, which have non-participating interests as described in Note 9. For the six month periods ended June 30, 2015 and 2014, excludes net increase in equity resulting from operations of $25 thousand and $103 thousand , respectively attributable to joint venture partners, which have non-participating interests as described in Note 9. (2) The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.

Counterparty Risk

Counterparty Risk	6 Months Ended
Counterparty Risk	Jun. 30, 2015
Risks and Uncertainties [Abstract]
Counterparty Risk	Counterparty Risk As of June 30, 2015 , investments with an aggregate value of approximately $1.58 billion were held with dealers as collateral for various reverse repurchase agreements. The investments held as collateral include securities in the amount of $34.7 million that were sold prior to period end but for which such sale had not yet settled as of June 30, 2015 . The following table details the percentage of such collateral held by counterparties who hold greater than 15% of the aggregate $1.58 billion in collateral for various reverse repurchase agreements as of June 30, 2015 . In addition to the below, unencumbered investments, on a settlement date basis, of approximately $101.6 million were held in custody at the Bank of New York Mellon Corporation. Dealer % of Total Collateral on Reverse Repurchase Agreements Royal Bank of Canada 28% The following table details the percentage of collateral amounts held by dealers who hold greater than 15% of the Company's Due from Brokers, included as of June 30, 2015 : Dealer % of Total Due from Brokers Wells Fargo Bank N.A. 26% Morgan Stanley 24% J.P. Morgan Securities Inc. 18% The following table details the percentage of amounts held by dealers who hold greater than 15% of the Company's Receivable for securities sold as of June 30, 2015 : Dealer % of Total Receivable for Securities Sold CS First Boston 24% Morgan Stanley 23% Citigroup 18% In addition the Company held cash and cash equivalents of $123.9 million and $114.1 million as of June 30, 2015 and December 31, 2014, respectively. The below table details the concentration of cash and cash equivalents held by each counterparty: As of Counterparty June 30, 2015 December 31, 2014 Bank of New York Mellon Corporation 59% 11% BlackRock Liquidity TempFund 40% 88% US Bank 1% 1%

Offsetting of Assets and Liabil

Offsetting of Assets and Liabilities	6 Months Ended
Offsetting of Assets and Liabilities	Jun. 30, 2015
Offsetting of Assets and Liabilities [Abstract]
Offsetting of Assets and Liabilities [Text Block]	Offsetting of Assets and Liabilities The Company records financial instruments at fair value as described in Note 2. All financial instruments are recorded on a gross basis on the Condensed Statement of Assets, Liabilities, and Equity. In connection with the vast majority of its derivative, repurchase and reverse repurchase agreements, and the related trading agreements, the Company and its counterparties are required to pledge collateral. Cash or other collateral is exchanged as required with each of the Company's counterparties in connection with open derivative positions, repurchase agreements, and reverse repurchase agreements. The following tables present information about certain assets and liabilities representing financial instruments as of June 30, 2015 and December 31, 2014. The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's repurchase and reverse repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. June 30, 2015 : Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 91,665 $ (35,719 ) $ — $ (29,777 ) $ 26,169 Repurchase agreements 53,788 (53,788 ) — — — Liabilities Financial derivatives–liabilities (45,565 ) 35,719 — 9,788 (58 ) Reverse repurchase agreements (1,360,408 ) 53,788 1,268,227 38,393 — December 31, 2014: Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 80,029 $ (40,671 ) $ — $ (5,578 ) $ 33,780 Repurchase agreements 172,001 (172,001 ) — — — Liabilities Financial derivatives–liabilities (66,116 ) 26,758 — 17,393 (21,965 ) Reverse repurchase agreements (1,669,433 ) 172,001 1,483,187 14,245 — (1) In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of June 30, 2015 and December 31, 2014 were $1.58 billion and $1.94 billion , respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $30.5 million and $22.7 million , respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $28.7 million and $23.2 million , respectively. (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Contingencies And Commitments

Contingencies And Commitments	6 Months Ended
Contingencies And Commitments	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Contingencies and Commitments The Company provides current directors and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Company. In the normal course of business the Company may also enter into contracts that contain a variety of representations, warranties, and general indemnifications. The Company's maximum exposure under these arrangements, including future claims that may be made against the Company that have not yet occurred, is unknown. The Company has not incurred any costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has no liabilities recorded for these agreements as of June 30, 2015 and December 31, 2014. The Company has entered into a purchase agreement whereby it has committed to purchase newly issued consumer loans originated by a third party over a term that expires in November 2015. As of June 30, 2015, the Company's remaining purchase commitment in connection with the purchase agreement is $32.3 million in total principal balance. The Company has entered into a flow consumer loan purchase and sale agreement, open-ended in duration, with a third party whereby the Company has committed to purchase up to $100 million of eligible consumer loans. As of June 30, 2015, the Company has purchased $1.4 million in eligible consumer loans under this agreement. Commitments and Contingencies Related to Investments in Mortgage Originators As of June 30, 2015, the Company had non-controlling investments in three mortgage originators. In connection with its investments, the Company has outstanding commitments and contingencies as described below. The Company has a commitment related to a mortgage originator in which the Company owns a subordinated debt interest. The Company has committed to make up to $4.0 million of additional subordinated debt investments subject to the satisfaction of certain requirements by the borrower and to the extent the borrower requests to increase its borrowings. The borrower can request up to $2.0 million on or before December 31, 2015 and the remaining $2.0 million on or before June 12, 2016. In June 2015, the Company entered into a flow mortgage loan purchase and sale agreement with this mortgage originator. The Company has not committed a specific dollar amount to future purchases under the agreement but has the option to purchase eligible loans as they are originated. As of June 30, 2015, the Company had not purchased any loans under this agreement, although it has outstanding loan purchase commitments of $0.8 million . In connection with its interest in a second mortgage originator, the Company has entered into an agreement whereby it guarantees the performance of the mortgage originator under a warehouse facility. As of June 30, 2015, the Company's maximum guarantee was $2.5 million , which is included on the Consolidated Statement of Assets, Liabilities, and Equity under the caption Other Liabilities at fair value. In March 2015, the Company made an initial investment in a third mortgage originator in the form of preferred and common stock. In addition, the Company entered into a flow mortgage loan purchase and sale agreement with the mortgage originator whereby the Company has committed to purchase eligible residential mortgage loans, to the extent they are originated in accordance with the Company's specifications, in an amount of at least $200 million . The Company may opt to increase the amount purchased in its sole discretion based on its evaluation of mortgage loans previously purchased as well as market conditions. As of June 30, 2015, the Company had not purchased any loans under this agreement, although it has outstanding loan purchase commitments of $0.9 million .

Financial Highlights

Financial Highlights	6 Months Ended
Financial Highlights	Jun. 30, 2015
Financial Highlights [Abstract]
Financial Highlights	Financial Highlights Results of Operations for a Share Outstanding Throughout the Periods: Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Beginning Shareholders' Equity Per Share (3/31/2015, 3/31/2014, 12/31/2014, and 12/31/2013, respectively) $ 23.30 $ 24.49 $ 23.38 $ 24.40 Net Investment Income 0.53 0.51 1.05 1.06 Net Realized/Unrealized Gains (Losses) (0.13 ) 0.33 (0.07 ) 0.67 Results of Operations Attributable to Equity 0.40 0.84 0.98 1.73 Less: Results of Operations Attributable to Non-controlling Interests — (0.01 ) (0.01 ) (0.02 ) Results of Operations Attributable to Shareholders' Equity (1) 0.40 0.83 0.97 1.71 Dividends Paid to Common Shareholders (0.65 ) (0.77 ) (1.30 ) (1.54 ) Weighted Average Share Impact on Dividends Paid (2) (0.01 ) (0.02 ) (0.01 ) (0.04 ) Ending Shareholders' Equity Per Share (6/30/2015, 6/30/2014, 6/30/2015, and 6/30/2014, respectively) (3) $ 23.04 $ 24.53 $ 23.04 $ 24.53 Shares Outstanding, end of period 33,449,678 25,441,750 33,449,678 25,441,750 (1) Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 11). (2) Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders. (3) If all LTIP units and OP Units previously issued were vested and exchanged for common shares as of June 30, 2015 and 2014, shareholders' equity per share would be $22.75 and $24.14, respectively. Total Return: The Company calculates its total return two ways, one based on its reported net asset value and the other based on its publicly-traded share price. The following table illustrates the Company's total return for the periods presented based on net asset value: Net Asset Value Based Total Return for a Shareholder: (1) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Total Return 1.67% 3.36% 4.18% 7.03% (1) Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period. Market Based Total Return for a Shareholder: For the three month periods ended June 30, 2015 and 2014, the Company's market based total return based on the closing price as reported by the New York Stock Exchange was (3.98)% and 3.98% , respectively. For the six month periods ended June 30, 2015 and 2014, the Company's market based total return based on the closing price as reported by the New York Stock Exchange was (1.14)% and 12.76% , respectively. Calculation of market based total return assumes the reinvestment of dividends at the closing price as reported by the New York Stock Exchange as of the ex-date. Net Investment Income Ratio to Average Equity: (1) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Net Investment Income (2) 8.99% 8.27% 9.00% 8.67% (1) Average equity is calculated using month end values. (2) Includes all items of income and expense on an annualized basis. Expense Ratios to Average Equity: (1)(2) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Operating expenses, before interest expense and other investment related expenses (2.54)% (2.76)% (2.60)% (2.78)% Interest expense and other investment related expenses (2.04)% (2.32)% (2.10)% (2.15)% Total Expenses (4.58)% (5.08)% (4.70)% (4.93)% (1) Average equity is calculated using month end values. (2) Includes all items of income and expense on an annualized basis.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 3, 2015, the Company's Board of Directors approved a dividend for the second quarter of 2015 in the amount of $0.65 per share payable on September 15, 2015 to shareholders of record as of September 1, 2015. On August 3, 2015, the Company's Board of Directors approved the adoption of a share repurchase program under which the Company is authorized to repurchase up to 1.7 million common shares. The program, which is open-ended in duration, allows the Company to make repurchases from time to time on the open market or in negotiated transactions. Repurchases are at the Company's discretion, subject to applicable law, share availability, price and our financial performance, among other considerations. This program supersedes the program that was previously adopted on August 4, 2011.

Significant Accounting Polici28

Significant Accounting Policies (Policy)	6 Months Ended
Significant Accounting Policies (Policy)	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The Company's unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, or "U.S. GAAP," for investment companies, ASC 946, Financial Services—Investment Companies ("ASC 946"). The Company has determined that it meets the definition of an investment company under ASC 946 . ASC 946 requires, among other things, that investments be reported at fair value in the financial statements. Additionally under ASC 946 the Company generally will not consolidate its interest in any company other than in its subsidiaries that qualify as investment companies under ASC 946. The consolidated financial statements include the accounts of the Company, the Operating Partnership, and its subsidiaries. All intercompany balances and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management's opinion, all material adjustments, considered necessary for a fair presentation of the Company's interim consolidated financial statements have been included and are only of a normal recurring nature. Interim results are not necessarily indicative of the results that may be expected for the entire fiscal year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2014.
Valuation	Valuation: The Company applies ASC 820-10, Fair Value Measurement and Disclosures ("ASC 820-10"), to its holdings of financial instruments. ASC 820-10 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1—inputs to the valuation methodology are observable and reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Currently, the types of financial instruments the Company generally includes in this category are listed equities, exchange-traded derivatives, and cash equivalents; • Level 2—inputs to the valuation methodology other than quoted prices included in Level 1 are observable for the asset or liability, either directly or indirectly. Currently, the types of financial instruments that the Company generally includes in this category are Agency RMBS, non-Agency mortgage-backed securities determined to have sufficiently observable market data, U.S. Treasury securities and certain sovereign debt, commonly traded derivatives, such as interest rate swaps, foreign currency forwards, and certain other over-the-counter derivatives; and • Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement. The types of financial instruments that the Company generally includes in this category are RMBS, CMBS, ABS, and credit default swaps, or "CDS," on individual ABS, in each case where there is less price transparency. Also included in this category are residential and commercial mortgage loans, consumer loans, distressed corporate debt, non-listed equities, and private corporate equity investments. For certain financial instruments, the various inputs that management uses to measure fair value for such financial instrument may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for such financial instrument is based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company may use valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. The market approach uses third-party valuations and information obtained from market transactions involving identical or similar assets or liabilities. The income approach uses projections of the future economic benefit of an instrument to determine its fair value, such as in the discounted cash flow methodology. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in these financial instruments. Transfers between levels of the fair value hierarchy are assumed to occur at the end of the reporting period. Summary Valuation Techniques For financial instruments that are traded in an "active market," the best measure of fair value is the quoted market price. However, many of the Company's financial instruments are not traded in an active market. Therefore, management generally uses third-party valuations when available. If third-party valuations are not available, management uses other valuation techniques, such as the discounted cash flow methodology. The following are summary descriptions, for various categories of financial instruments, of the valuation methodologies management uses in determining fair value of the Company's financial instruments in such categories. Management utilizes such methodologies to assign a good faith fair value (the estimated price that, in an orderly transaction at the valuation date, would be received to sell an asset, or paid to transfer a liability, as the case may be) to each such financial instrument. For mortgage-backed securities, or "MBS," including To Be Announced MBS, or "TBAs," and CLOs, management seeks to obtain at least one third-party valuation, and often obtains multiple valuations when available. Management has been able to obtain third-party valuations on the vast majority of these instruments and expects to continue to solicit third-party valuations in the future. Management generally values each financial instrument at the average of third-party valuations received and not rejected as described below. Third-party valuations are not binding, and while management generally does not adjust the valuations it receives, management may challenge or reject a valuation when, based on its validation criteria, management determines that such valuation is unreasonable or erroneous. Furthermore, based on its validation criteria, management may determine that the average of the third-party valuations received for a given instrument does not result in what management believes to be the fair value of such instrument, and in such circumstances management may override this average with its own good faith valuation. The validation criteria may take into account output from management's own models, recent trading activity in the same or similar instruments, and valuations received from third parties. The use of proprietary models requires the use of a significant amount of judgment and the application of various assumptions including, but not limited to, assumptions concerning future prepayment rates and default rates. Valuations for fixed rate MBS pass-throughs issued by a U.S. government agency or government-sponsored enterprise are typically based on observable pay-up data (pay-ups are price premiums for specified categories of fixed rate pools relative to their TBA counterparts) or models that use observable market data, such as interest rates and historical prepayment speeds, and are validated against third-party valuations. Given their relatively high level of price transparency, Agency RMBS pass-throughs are typically designated as Level 2 assets, although Agency interest only and inverse interest only RMBS are currently designated as Level 3 assets since they generally have less price transparency. Non-Agency MBS and CLOs are generally classified as either Level 2 or Level 3 based on analysis of available market data such as recent trades, executable bids, and reported "market color." Furthermore, the methodology used by the third-party valuation providers is reviewed at least annually by management, so as to ascertain whether such providers are utilizing observable market data to determine the valuations that they provide. For residential and commercial mortgage loans, consumer loans, and real estate owned properties, or "REO," management determines fair value by taking into account both external pricing data, when available, and internal pricing models. Non-performing mortgage loans and REO are typically valued based on management's estimates of the value of the underlying real estate, using various information including general economic data, broker price opinions, or "BPOs," recent sales, property appraisals, and bids. Performing mortgage loans and consumer loans are typically valued using discounted cash flows based on market assumptions. These assumptions typically include projected default and prepayment rates and loss severities, and may include adjustments based on appraisals and BPOs. Mortgage and consumer loans and REO properties are classified as Level 3 assets. For financial derivatives with greater price transparency, such as CDS on asset-backed indices, CDS on corporate indices, certain options on the foregoing, and total return swaps on publicly-traded equities, market-standard pricing sources are used to obtain valuations; these financial derivatives are generally designated as Level 2 instruments. Interest rate swaps, swaptions, and foreign currency forwards are typically valued based on internal models that use observable market data, including applicable interest rates and foreign currency rates in effect as of the measurement date; the model-generated valuations are then typically compared to counterparty valuations for reasonableness. These financial derivatives are also generally designated as Level 2 instruments. Financial derivatives with less price transparency, such as CDS on individual ABS, are generally valued based on internal models, and are typically designated as Level 3 instruments. In the case of CDS on individual ABS, the valuation process typically starts with an estimation of the value of the underlying ABS. The Company's investments in distressed corporate debt are in the form of loans as well as total return swaps on loans. Valuations are typically based on prices of the underlying loans received from third-party pricing services. In determining the fair value of a distressed corporate debt investment, management may adjust the third-party prices received based on its good faith assessment of various factors relating to the debtor, such as the debtor's leverage ratio, an assessment of the debtor's ability to generate cash flow to service its debt, and the outlook for the debtor's overall industry, among other factors. These investments are designated as Level 3 assets. Investments in private operating entities, such as mortgage originators, are valued based on available metrics, such as relevant market multiples and comparable company valuations, company specific-financial data including actual and projected results, and in certain cases, where sufficient relevant data is not otherwise available, the original transaction price. These investments are also designated as Level 3 assets. The Company's reverse repurchase agreements are carried at cost, which approximates fair value. Reverse repurchase agreements are classified as Level 2 assets and liabilities based on the adequacy of the collateral and their short term nature. The Company's valuation process, including the application of validation criteria, is overseen by the Manager's Valuation Committee ("Valuation Committee"). The Valuation Committee includes senior level executives from various departments within the Manager, and each quarter, the Valuation Committee reviews and approves the valuations of the Company's investments. The valuation process also includes a monthly review by the Company's third-party administrator. The goal of this review is to replicate various aspects of the Company's valuation process based on the Company's documented procedures. Because of the inherent uncertainty of valuation, the estimated fair value of the Company's financial instruments may differ significantly from the values that would have been used had a ready market for the financial instruments existed, and the differences could be material to the Company's consolidated financial statements.
Purchase and Sales of Investments and Investment Income	Purchase and Sales of Investments and Investment Income: Purchases and sales of investments are generally recorded on trade date, and realized and unrealized gains and losses are calculated based on identified cost. The Company amortizes premiums and accretes discounts on its debt investments. Coupon interest income on fixed income investments is generally accrued based on the outstanding principal balance or notional amount and the current coupon interest rate. For Agency RMBS and debt securities that are deemed to be of high credit quality at the time of purchase, premiums and discounts are amortized into interest income over the life of such securities using the effective interest method. For securities whose cash flows vary depending on prepayments, an effective yield retroactive to the time of purchase is periodically recomputed based on actual prepayments and changes in projected prepayment activity, and a catch-up adjustment is made to amortization to reflect the cumulative impact of the change in effective yield. For debt securities (including non-Agency MBS) that are deemed not to be of high credit quality at the time of purchase, interest income is recognized based on the effective interest method. For purposes of determining the effective interest rate, management estimates the future expected cash flows of its investment holdings based on assumptions including, but not limited to, assumptions for future prepayment rates, default rates, and loss severities (each of which may in turn incorporate various macro-economic assumptions, such as future housing prices). These assumptions are re-evaluated not less than quarterly. Principal write-offs are generally treated as realized losses. Changes in projected cash flows, as applied to the current amortized cost of the security, may result in a prospective change in the yield/interest income recognized on such securities. For each loan purchased with the expectation that both interest and principal will be paid in full, the Company generally amortizes or accretes any premium or discount over the life of the loan utilizing the effective interest method. However, on at least a quarterly basis based on current information and events, the Company re-assesses the collectability of interest and principal, and designates a loan as impaired either when any payments have become 90 or more days past due, or when, in the opinion of management, it is probable that the Company will be unable to collect either interest or principal in full. Once a loan is designated as impaired, as long as principal is still expected to be collectable in full, interest payments are recorded as interest income only when received (i.e., under the cash basis method); accruals of interest income are only resumed when the loan becomes contractually current and performance is demonstrated to be resumed. However, if principal is not expected to be collectable in full, the cost recovery method is used (i.e., no interest income is recognized, and all payments received—whether contractually interest or principal—are applied to cost). For each loan purchased with evidence of credit deterioration since origination and the expectation that either principal or interest will not be paid in full, interest income is generally recognized using the effective interest method for as long as the cash flows can be reasonably estimated. Here, instead of amortizing the purchase discount (i.e., the excess of the unpaid principal balance over the purchase price) over the life of the loan, the Company effectively amortizes the accretable yield (i.e., the excess of the Company's estimate of the total cash flows to be collected over the life of the loan over the purchase price). Not less than quarterly, the Company updates its estimate of the cash flows expected to be collected over the life of the loan, and revised yields are prospectively applied. To the extent that cash flows cannot be reasonably estimated, these loans are generally accounted for under the cost recovery method. For certain groups of consumer loans that the Company considers as having sufficiently homogeneous characteristics, the Company aggregates such loans into pools, and accounts for each such pool as a single asset. The pool is then treated analogously to a debt security deemed not to be of high credit quality, in that (i) the aggregate premium or discount for the pool is amortized or accreted into interest income based on the pool's effective interest rate; (ii) the effective interest rate is determined based on the net expected cash flows of the pool, taking into account estimates of prepayments, defaults, and loss severities; and (iii) estimates are updated not less than quarterly and revised yields are prospectively applied. In estimating future cash flows on the Company's debt investments, there are a number of assumptions that will be subject to significant uncertainties and contingencies, including, in the case of MBS, assumptions relating to prepayment rates, default rates, loan loss severities, and loan repurchases. These estimates require the use of a significant amount of judgment. The Company receives dividend income on certain of its equity investments and rental income on certain of its REO properties. These items of income are included on the Consolidated Statement of Operations under the heading, "Other investment income."
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash and cash equivalents include cash and short term investments with original maturities of three months or less at the date of acquisition. Cash equivalents are recorded at cost plus accrued interest, which approximates fair value. Cash and cash equivalents typically include amounts held in an interest bearing overnight account and amounts held in money market funds, and these balances generally exceed insured limits.
Financial Derivatives	Financial Derivatives: The Company enters into various types of financial derivatives. The Company's financial derivatives are predominantly subject to bilateral collateral arrangements or clearing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Company may be required to deliver or receive cash or securities as collateral upon entering into derivative transactions. In addition, changes in the relative value of derivative transactions may require the Company or the counterparty to post or receive additional collateral. In the case of cleared derivatives, the clearinghouse becomes the Company's counterparty and a futures commission merchant, acts as an intermediary between the Company and the clearinghouse with respect to all facets of the related transaction, including the posting and receipt of required collateral. Cash collateral received by the Company is reflected on the Consolidated Statement of Assets, Liabilities, and Equity as "Due to Brokers." Conversely, cash collateral posted by the Company is reflected as "Due from Brokers" on the Consolidated Statement of Assets, Liabilities, and Equity. The major types of derivatives utilized by the Company are swaps, futures, options and swaptions, and forwards. Swaps: The Company may enter into various types of swaps, including interest rate swaps, credit default swaps, and total return swaps. The primary risk associated with the Company's interest rate swap activity is interest rate risk. The primary risk associated with the Company's credit default swaps is credit risk and the primary risks associated with the Company's total return swap activity are equity market risk and credit risk. The Company is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Primarily to help mitigate interest rate risk, the Company enters into interest rate swaps. Interest rate swaps are contractual agreements whereby one party pays a floating interest rate on a notional principal amount and receives a fixed rate payment on the same notional principal, or vice versa, for a fixed period of time. Interest rate swaps change in value with movements in interest rates. The Company enters into credit default swaps. A credit default swap is a contract under which one party agrees to compensate another party for the financial loss associated with the occurrence of a "credit event" in relation to a "reference amount" or notional value of a credit obligation (usually a bond, loan, or a basket of bonds or loans). The definition of a credit event may vary from contract to contract. A credit event may occur (i) when the underlying reference asset(s) fails to make scheduled principal or interest payments to its holders, (ii) with respect to credit default swaps referencing mortgage/asset-backed securities and indices, when the underlying reference obligation is downgraded below a certain rating level, or (iii) with respect to credit default swaps referencing corporate entities and indices, upon the bankruptcy of the underlying reference obligor. The Company typically writes (sells) protection to take a "long" position or purchases (buys) protection to take a "short" position with respect to underlying reference assets or to hedge exposure to other investment holdings. The Company enters into total return swaps in order to take a "long" or "short" position with respect to an underlying reference asset. The Company is subject to market price volatility of the underlying reference asset. A total return swap involves commitments to pay interest in exchange for a market-linked return based on a notional value. To the extent that the total return of the corporate debt, security, group of securities or index underlying the transaction exceeds or falls short of the offsetting interest obligation, the Company will receive a payment from or make a payment to the counterparty. Swaps change in value with movements in interest rates or total return of the reference securities. During the term of swap contracts, changes in value are recognized as unrealized gains or losses. When a contract is terminated, the Company realizes a gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Company's basis in the contract, if any. Periodic payments or receipts required by swap agreements are recorded as unrealized gains or losses when accrued and realized gains or losses when received or paid. Upfront payments paid and/or received by the Company to open swap contracts are recorded as an asset and/or liability on the Consolidated Statement of Assets, Liabilities, and Equity and are recorded as a realized gain or loss on the termination date. Futures Contracts: A futures contract is an exchange-traded agreement to buy or sell an asset for a set price on a future date. The Company enters into Eurodollar and/or U.S. Treasury security futures contracts to hedge its interest rate risk. The Company may also enter into various other futures contracts, including equity index futures. Initial margin deposits are made upon entering into futures contracts and can be either in the form of cash or securities. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by marking-to-market to reflect the current market value of the contract. Variation margin payments are made or received periodically, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Options: The Company may purchase or write put or call options contracts or enter into swaptions. The Company enters into options contracts typically to help mitigate overall market, credit, or interest rate risk depending on the type of options contract. However, the Company also enters into options contracts from time to time for speculative purposes. When the Company purchases an options contract, the option asset is initially recorded at an amount equal to the premium paid, if any, and is subsequently marked-to-market. Premiums paid for purchasing options contracts that expire unexercised are recognized on the expiration date as realized losses. If an options contract is exercised, the premium paid is subtracted from the proceeds of the sale or added to the cost of the purchase to determine whether the Company has realized a gain or loss on the related transaction. When the Company writes an options contract, the option liability is initially recorded at an amount equal to the premium received, if any, and is subsequently marked-to-market. Premiums received for writing options contracts that expire unexercised are recognized on the expiration date as realized gains. If an options contract is exercised, the premium received is subtracted from the cost of the purchase or added to the proceeds of the sale to determine whether the Company has realized a gain or loss on the related investment transaction. When the Company enters into a closing transaction, the Company will realize a gain or loss depending upon whether the amount from the closing transaction is greater or less than the premiums paid or received. The Company may also enter into options contracts that contain forward-settling premiums. In this case, no money is exchanged upfront. Instead the agreed-upon premium is paid by the buyer upon expiration of the option, regardless of whether or not the option is exercised. Forward Currency Contracts: A forward currency contract is an agreement between two parties to purchase or sell a specific quantity of currency with the delivery and settlement at a specific future date and exchange rate. During the period the forward currency contract is open, changes in the value of the contract are recognized as unrealized gains or losses. When the contract is settled, the Company records a realized gain or loss equal to the difference between the proceeds of the closing transaction and the Company's basis in the contract. Financial derivatives disclosed on the Consolidated Condensed Schedule of Investments include: credit default swaps on asset-backed securities, credit default swaps on asset-backed indices, credit default swaps on corporate bond indices, credit default swaps on corporate bonds, interest rate swaps, total return swaps, futures, foreign currency forwards, options contracts, warrants, and loan purchase commitments. Financial derivative assets are included in Financial derivatives—assets, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. Financial derivative liabilities are included in Financial derivatives—liabilities, at fair value on the Consolidated Statement of Assets, Liabilities, and Equity. In addition, financial derivative contracts are summarized by type on the Consolidated Condensed Schedule of Investments.
Investments Sold Short	Investments Sold Short: When the Company sells securities short, it typically satisfies its security delivery settlement obligation by obtaining the security sold from the same or a different counterparty. The Company generally is required to deliver cash or securities as collateral to the counterparty for the Company's obligation to return the borrowed security. The amount by which the market value of the obligation falls short of or exceeds the proceeds from the short sale is treated as an unrealized gain or loss, respectively. A realized gain or loss will be recognized upon the termination of a short sale if the market price is less or greater than the proceeds originally received.
Reverse Repurchase Agreements and Repurchase Agreements	Reverse Repurchase Agreements and Repurchase Agreements: The Company enters into reverse repurchase agreements with third-party broker-dealers whereby it sells securities under agreements to be repurchased at an agreed-upon price and date. The Company also enters into repurchase agreement transactions with third-party broker-dealers whereby it purchases securities under agreements to resell at an agreed-upon price and date. In general, securities received pursuant to repurchase agreements are delivered to counterparties of short sale transactions. The Company accounts for reverse repurchase agreements as collateralized borrowings, with the initial sale price representing the amount borrowed, and with the future repurchase price consisting of the amount borrowed plus interest, at the implied interest rate of the reverse repurchase agreement, on the amount borrowed over the term of the reverse repurchase agreement. The interest rate on a reverse repurchase agreement or a repurchase agreement is based on competitive rates (or competitive market spreads, in the case of agreements with floating interest rates) at the time such agreement is entered into. When the Company enters into a reverse repurchase agreement, the lender establishes and maintains an account containing cash and/or securities having a value not less than the repurchase price, including accrued interest, of the reverse repurchase agreement. Assets held pursuant to repurchase agreements are reflected as assets on the Consolidated Statement of Assets, Liabilities, and Equity. Repurchase and reverse repurchase agreements that are conducted with the same counterparty may be reported on a net basis if they meet the requirements of ASC 210-20, Balance Sheet Offsetting . There are no repurchase and reverse repurchase agreements reported on a net basis in the Company's consolidated financial statements. Reverse repurchase agreements are carried at their contractual amounts, which approximate fair value as the debt is short-term in nature.
Securitized Debt	Securitized Debt: The Company entered into a resecuritization transaction in January 2012, which is accounted for as a collateralized borrowing. The asset contributed to the securitization was not derecognized but rather, the liability issued by the securitization was recorded to reflect the term financing of the re-securitized asset. Under ASC 825-10, the Company has elected to carry securitized debt at fair value.
When-Issued/Delayed Delivery Securities	When-Issued/Delayed Delivery Securities: The Company may purchase or sell securities on a when-issued or delayed delivery basis. Securities purchased or sold on a when-issued basis are traded for delivery beyond the normal settlement date at a stated price or yield, and no income accrues to the purchaser prior to settlement. Purchasing or selling securities on a when-issued or delayed delivery basis involves the risk that the market price or yield at the time of settlement may be lower or higher than the agreed-upon price or yield, in which case a realized loss may be incurred. The Company transacts in the forward settling TBA market. The Company typically does not take delivery of TBAs, but rather settles the associated receivable and payable with its trading counterparties on a net basis. Transactions with the same counterparty for the same TBA that result in a reduction of the position are treated as extinguished. The market value of the securities that the Company is required to purchase pursuant to a TBA transaction may decline below the agreed-upon purchase price. Conversely, the market value of the securities that the Company is required to sell pursuant to a TBA transaction may increase above the agreed upon sale price. As part of its TBA activities, the Company may "roll" its TBA positions, whereby the Company may sell (buy) securities for delivery (receipt) in an earlier month and simultaneously contract to repurchase (sell) similar, but not identical, securities at an agreed-upon price on a fixed date in a later month (with the later-month price typically lower than the earlier-month price). The Company accounts for its TBA transactions (including those related to TBA rolls) as purchases and sales.
REO	REO: When the Company obtains possession of real property in connection with a foreclosure or similar action, the Company de-recognizes the associated mortgage loan according to ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure ("ASU 2014-04"). Under the provisions of ASU 2014-04, the Company is deemed to have received physical possession of real estate property collateralizing a mortgage loan when it obtains legal title to the property upon completion of a foreclosure or when the borrower conveys all interest in the property to it through a deed in lieu of foreclosure or similar legal agreement. The Company holds all REO at fair value.
Investments in Operating Entities	Investments in Operating Entities: The Company has made and may in the future make non-controlling investments in operating entities such as mortgage originators. Investments in such operating entities may be in the form of preferred and/or common equity, debt, or some other form of investment. The Company carries its investments in such entities at fair value. The impact of these investments and their results of operations are immaterial to the Company's financial condition and results of operations.
Offering Costs/Underwriters' Discount	Offering Costs/Underwriters' Discount: Offering costs and underwriters' discount are charged against shareholders' equity.
Expenses [Policy Text Block]	Expenses: Expenses are recognized as incurred on the Consolidated Statement of Operations.
LTIP Units	LTIP Units: Long term incentive plan units ("LTIP units") have been issued to the Company's dedicated or partially dedicated personnel and independent directors as well as the Manager. Costs associated with LTIP units issued to dedicated or partially dedicated personnel and independent directors are amortized over the vesting period in accordance with ASC 718-10, Compensation—Stock Compensation . Costs associated with LTIP units issued to the Manager are amortized over the vesting period in accordance with ASC 505-50, Equity-Based Payments to Non-Employees . The vesting periods for LTIP units issued under the Ellington Incentive Plan for Individuals (the "Individual LTIP") to dedicated or partially dedicated personnel are typically one year and can be up to two years. The vesting periods of Individual LTIP units are typically one year for independent directors.
Non-controlling interest	Non-controlling interests : Non-controlling interests include the interest in the Operating Partnership owned by an affiliate of the Manager and certain related parties and consist of units convertible into the Company's common shares. Non-controlling interests also include the interests of joint venture partners in certain of our consolidated subsidiaries. The joint venture partners' interests do not consist of units convertible into the Company's common shares. The Company adjusts the non-controlling interests owned by an affiliate of the Manager and certain related parties to align their carrying value with the share of total outstanding operating partnership units ("OP Units") issued by the Operating Partnership to the non-controlling interest. Any such adjustments are reflected in "Adjustment to non-controlling interest" on the Consolidated Statement of Changes in Equity. See Note 9 for further discussion of non-controlling interests.
Dividends	Dividends: Dividends payable by the Company are recorded on the ex-dividend date. Dividends are typically declared and paid on a quarterly basis in arrears.
Shares Repurchased	Shares Repurchased: Common shares that are repurchased by the Company subsequent to issuance decrease the total number of shares outstanding and issued.
Earnings Per Share ("EPS")	Earnings Per Share ("EPS"): Basic EPS is computed using the two class method by dividing net increase (decrease) in shareholders' equity resulting from operations after adjusting for the impact of LTIP units which are participating securities, by the weighted average number of common shares outstanding calculated including LTIP units. Because the Company's LTIP units are participating securities, they are included in the calculation of basic and diluted EPS. OP Units relating to a non-controlling interest are also participating securities and, accordingly, are included in the calculation of both basic and diluted EPS.
Foreign Currency	Foreign Currency: Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at current exchange rates at the following dates: (i) assets, liabilities, and unrealized gains/losses—at the valuation date; and (ii) income, expenses, and realized gains/losses—at the accrual/transaction date. The Company isolates the portion of realized and change in unrealized gain (loss) resulting from changes in foreign currency exchange rates on investments and financial derivatives from the fluctuations arising from changes in fair value of investments and financial derivatives held. Changes in realized and change in unrealized gain (loss) due to foreign currency are included in Foreign currency transactions and Foreign currency translation, respectively, on the Consolidated Statement of Operations.
Income Taxes	Income Taxes: The Company intends to be treated as a partnership for U.S. federal income tax purposes. Certain of the Company's subsidiaries are not consolidated for U.S. federal income tax purposes, but are also treated as partnerships. In general, partnerships are not subject to entity-level tax on their income, but the income of a partnership is taxable to its owners on a flow-through basis. As of June 30, 2015, certain subsidiaries of the Company have elected to be treated as corporations for U.S. federal income tax purposes, one of which intends to elect to be taxed as a real estate investment trust. The Company follows the provisions of ASC 740-10, Income Taxes ("ASC 740-10"), which requires management to determine whether a tax position of the Company is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals, based on the technical merits of the position. The Company did not have any additions to unrecognized tax benefits resulting from tax positions related either to the current period or to 2014, 2013, 2012, or 2011 (its open tax years), and no reductions resulting from tax positions of prior years or due to settlements, and thus had no unrecognized tax benefits or reductions since inception. The Company does not expect any change in unrecognized tax benefits within the next fiscal year. There were no amounts accrued for tax penalties or interest as of or during the periods presented in these consolidated financial statements. The Company may take positions with respect to certain tax issues which depend on legal interpretation of facts or applicable tax regulations. Should the relevant tax regulators successfully challenge any of such positions, the Company might be found to have a tax liability that has not been recorded in the accompanying consolidated financial statements. Also, management's conclusions regarding ASC 740-10 may be subject to review and adjustment at a later date based on factors including, but not limited to, further implementation guidance from the Financial Accounting Standards Board, or "FASB," and ongoing analyses of tax laws, regulations and interpretations thereof. To date there have been no material differences between the tax and U.S. GAAP bases of the Company's investments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures ("ASU 2014-11"). This amends ASC 860, Transfers and Servicing ("ASC 860"), to require disclosure of repurchase-to-maturity transactions to be accounted for as secured borrowings rather than sales of an asset, and transfers of financial assets with a contemporaneous repo will no longer be evaluated to determine whether they should be accounted for on a combined basis as forward contracts. The new guidance also prescribes additional disclosures particularly on the nature of collateral pledged under repurchase agreements accounted for as secured borrowings. ASU 2014-11 is effective for interim and annual periods beginning after December 15, 2014. The adoption of ASC 860, as amended by ASU 2014-11 did not have a material impact on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 requires management to perform interim and annual assessments of an entity's ability to continue as a going concern and to provide disclosure if events or conditions arise that would place substantial doubt on the entity's ability to continue as a going concern. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and subsequent interim and annual periods with early adoption permitted. The adoption of ASU 2014-15 is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis ("ASU 2015-02"). This amends ASC 810, Consolidation (ASC "810"), to improve targeted areas of consolidation guidance by simplifying the requirements of consolidation and placing more emphasis on risk of loss when determining a controlling financial interest. ASU 2015-02 is effective for the annual period ending after December 15, 2015, and subsequent interim and annual periods with early adoption permitted. The adoption of ASU 2015-02 is not expected to have a material impact on the Company's consolidated financial statements.

Valuation (Tables)

Valuation (Tables)	6 Months Ended
Valuation (Tables)	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule Of Financial Instruments	The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at December 31, 2014 : (In thousands) Description Level 1 Level 2 Level 3 Total Assets: Cash equivalents (2) $ 100,000 $ — $ — $ 100,000 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,258,699 $ 31,385 $ 1,290,084 U.S. Treasury securities — 1,636 — 1,636 Private label residential mortgage-backed securities — 284,748 274,369 559,117 Private label commercial mortgage-backed securities — — 53,311 53,311 Commercial mortgage loans — — 28,309 28,309 Residential mortgage loans — — 27,482 27,482 Collateralized loan obligations (2) — — 121,994 121,994 Consumer loans and asset-backed securities backed by consumer loans (2) — — 24,294 24,294 Corporate debt — — 42,708 42,708 Real estate owned — — 8,635 8,635 Private corporate equity investments — — 14,512 14,512 Total investments, at fair value — 1,545,083 626,999 2,172,082 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 11,387 11,387 Credit default swaps on corporate bond indices — 35,865 — 35,865 Credit default swaps on asset-backed indices — 1,881 — 1,881 Interest rate swaps — 28,654 — 28,654 Total return swaps — 8 — 8 Swaptions — 344 — 344 Options — 645 — 645 Futures 261 — — 261 Forwards — 884 — 884 Warrants — — 100 100 Total financial derivatives–assets, at fair value 261 68,281 11,487 80,029 Repurchase agreements — 172,001 — 172,001 Total investments and financial derivatives–assets, at fair value and repurchase agreements $ 261 $ 1,785,365 $ 638,486 $ 2,424,112 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (1,209,539 ) $ — $ (1,209,539 ) Government debt — (55,315 ) — (55,315 ) Common stock (26,516 ) — — (26,516 ) Total investments sold short, at fair value (26,516 ) (1,264,854 ) — (1,291,370 ) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices — (28,588 ) — (28,588 ) Credit default swaps on corporate bonds — (2,953 ) — (2,953 ) Credit default swaps on asset-backed indices — (4,410 ) — (4,410 ) Credit default swaps on asset-backed securities — — (239 ) (239 ) Description Level 1 Level 2 Level 3 Total Financial derivatives–liabilities, at fair value (continued)- Interest rate swaps $ — $ (29,405 ) $ — $ (29,405 ) Total return swaps — (21 ) — (21 ) Options — (146 ) — (146 ) Swaptions — (137 ) — (137 ) Futures (81 ) — — (81 ) Forwards — (136 ) — (136 ) Total financial derivatives–liabilities, at fair value (81 ) (65,796 ) (239 ) (66,116 ) Securitized debt (1) — — (774 ) (774 ) Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value $ (26,597 ) $ (1,330,650 ) $ (1,013 ) $ (1,358,260 ) (1) The asset subject to the resecuritization had a fair value of $2.2 million as of December 31, 2014, which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities. The table below reflects the value of the Company's Level 1, Level 2, and Level 3 financial instruments at June 30, 2015 : Description Level 1 Level 2 Level 3 Total Assets: (In thousands) Cash equivalents $ 50,000 $ — $ — $ 50,000 Investments, at fair value- Agency residential mortgage-backed securities $ — $ 1,119,020 $ 30,385 $ 1,149,405 Private label residential mortgage-backed securities — 225,753 160,046 385,799 Private label commercial mortgage-backed securities — — 49,834 49,834 Commercial mortgage loans — — 55,310 55,310 Residential mortgage loans — — 20,929 20,929 Collateralized loan obligations — — 98,388 98,388 Consumer loans and asset-backed securities backed by consumer loans — — 52,457 52,457 Corporate debt — — 26,278 26,278 Real estate owned — — 9,502 9,502 Private corporate equity investments — — 22,349 22,349 Total investments, at fair value — 1,344,773 525,478 1,870,251 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities — — 9,449 9,449 Credit default swaps on corporate bond indices — 61,542 — 61,542 Credit default swaps on asset-backed indices — 2,594 — 2,594 Interest rate swaps — 15,021 — 15,021 Total return swaps — 1 247 248 Description Level 1 Level 2 Level 3 Total Assets (continued): (In thousands) Swaptions $ — $ 719 $ — $ 719 Options — 564 — 564 Futures 236 — — 236 Forwards — 1,192 — 1,192 Warrants — — 100 100 Total financial derivatives–assets, at fair value 236 81,633 9,796 91,665 Repurchase agreements — 53,788 — 53,788 Total investments and financial derivatives–assets, at fair value and repurchase agreements $ 236 $ 1,480,194 $ 535,274 $ 2,015,704 Liabilities: Investments sold short, at fair value- Agency residential mortgage-backed securities $ — $ (1,119,975 ) $ — $ (1,119,975 ) Government debt — (63,409 ) — (63,409 ) Total investments sold short, at fair value — (1,183,384 ) — (1,183,384 ) Financial derivatives–liabilities, at fair value- Credit default swaps on corporate bond indices — (24,400 ) — (24,400 ) Credit default swaps on corporate bonds — (320 ) — (320 ) Credit default swaps on asset-backed indices — (6,507 ) — (6,507 ) Credit default swaps on asset-backed securities — — (280 ) (280 ) Interest rate swaps — (9,303 ) — (9,303 ) Total return swaps — (16 ) (1,903 ) (1,919 ) Options — (1,334 ) — (1,334 ) Swaptions — (664 ) — (664 ) Futures (633 ) — — (633 ) Forwards — (205 ) — (205 ) Loan purchase commitments — — — — Total financial derivatives–liabilities, at fair value (633 ) (42,749 ) (2,183 ) (45,565 ) Securitized debt (1) — — (655 ) (655 ) Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value $ (633 ) $ (1,226,133 ) $ (2,838 ) $ (1,229,604 ) (1) The asset subject to the resecuritization had a fair value of $2.1 million as of June 30, 2015 , which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities.
Schedule Of Significant Unobservable Inputs, Qualitative Information	The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of June 30, 2015 : Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities (1) $ 107,222 Market Quotes Non Binding Third-Party Valuation $ 1.79 $ 117.41 $ 68.87 Collateralized loan obligations 87,996 Market Quotes Non Binding Third-Party Valuation $ 22.15 $ 134.50 $ 95.92 Private label residential mortgage-backed securities 52,169 Discounted Cash Flows Yield 6.2 % 45.8 % 11.3 % Projected Collateral Prepayments 7.2 % 75.4 % 36.8 % Projected Collateral Losses 2.8 % 31.6 % 15.7 % Projected Collateral Recoveries 3.2 % 18.4 % 10.8 % Projected Collateral Scheduled Amortization 7.5 % 70.8 % 36.7 % 100.0 % Private label commercial mortgage-backed securities 17,456 Discounted Cash Flows Yield 11.7 % 36.9 % 20.2 % Projected Collateral Losses 0.0 % 4.3 % 1.1 % Projected Collateral Recoveries 0.0 % 18.2 % 4.5 % Projected Collateral Scheduled Amortization 77.5 % 100.0 % 94.4 % 100.0 % Corporate debt and non-exchange traded corporate equity 24,023 Market Quotes Non Binding Third-Party Valuation $ 4.33 $ 150.00 $ 74.47 Corporate debt and warrants 8,500 Discounted Cash Flows Yield 15.0 % 15.0 % 15.0 % Collateralized loan obligations 10,392 Discounted Cash Flows Yield 6.7 % 60.4 % 28.6 % Projected Collateral Prepayments 40.7 % 70.4 % 54.3 % Projected Collateral Losses 1.9 % 26.6 % 13.3 % Projected Collateral Recoveries 0.9 % 10.9 % 5.7 % Projected Collateral Scheduled Amortization 20.4 % 34.1 % 26.7 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans 52,457 Discounted Cash Flows Yield 6.8 % 17.0 % 11.6 % Private label commercial mortgage-backed securities 32,378 Market Quotes Non Binding Third-Party Valuation $ 5.60 $ 98.06 $ 51.82 Performing commercial mortgage loans 43,900 Discounted Cash Flows Yield 9.8 % 17.8 % 11.9 % Non-performing commercial mortgage loans 11,410 Discounted Cash Flows Yield 12.4 % 16.1 % 14.0 % Months to Resolution 3.0 10.5 7.3 Non-performing residential mortgage loan pools and real estate owned 30,431 Discounted Cash Flows Yield 6.1 % 12.0 % 7.3 % Months to Resolution 4.1 109.7 27.4 (continued) Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Agency interest only residential mortgage-backed securities $ 26,390 Market Quotes Non Binding Third-Party Valuation $ 3.33 $ 23.21 $ 12.05 Agency interest only residential mortgage-backed securities 3,995 Option Adjusted Spread ("OAS") LIBOR OAS (2) (186 ) 780 596 Projected Collateral Prepayments 21.4 % 100.0 % 68.0 % Projected Collateral Scheduled Amortization 0.0 % 78.6 % 32.0 % 100.0 % Credit default swaps on asset-backed securities 9,169 Net Discounted Cash Flows Projected Collateral Prepayments 26.1 % 57.1 % 31.4 % Projected Collateral Losses 15.4 % 36.4 % 28.1 % Projected Collateral Recoveries 7.0 % 17.4 % 12.9 % Projected Collateral Scheduled Amortization 16.5 % 31.9 % 27.6 % 100.0 % Total return swaps (1,656 ) Market Quotes Non Binding Third-Party Valuation (3) $ 50.33 $ 100.75 $ 60.90 Non-exchange traded equity investments in commercial mortgage-related private partnerships 10,966 Discounted Cash Flows Yield 10.0 % 16.0 % 12.0 % Expected Holding Period (Months) 12.0 20.9 14.3 Non-exchange traded preferred and common equity investment in mortgage-related entities 5,238 Recent Transactions Transaction Price/Enterprise Value N/A N/A N/A (1) Includes securitized debt with a fair value of $0.7 million as of June 30, 2015 . (2) Shown in basis points. (3) Represents valuations on underlying assets. The following table identifies the significant unobservable inputs that affect the valuation of the Company's Level 3 assets and liabilities as of December 31, 2014: Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (In thousands) Private label residential mortgage-backed securities (1) $ 201,373 Market Quotes Non Binding Third-Party Valuation $ 1.83 $ 119.58 $ 73.58 Collateralized loan obligations (3) 121,674 Market Quotes Non Binding Third-Party Valuation 21.50 137.00 94.85 Asset-backed securities backed by consumer loans (3) 1,344 Market Quotes Non Binding Third-Party Valuation 100.00 100.00 100.00 Private label residential mortgage-backed securities 72,222 Discounted Cash Flows Yield 3.0 % 13.6 % 7.0 % Projected Collateral Prepayments 6.7 % 100.0 % 45.6 % Projected Collateral Losses 0.0 % 44.5 % 11.3 % Projected Collateral Recoveries 0.0 % 22.4 % 8.0 % Projected Collateral Scheduled Amortization 0.0 % 86.4 % 35.1 % 100.0 % Private label commercial mortgage-backed securities 12,392 Discounted Cash Flows Yield 12.0 % 51.1 % 23.7 % Projected Collateral Losses 0.1 % 2.5 % 0.7 % Projected Collateral Recoveries 0.9 % 13.5 % 6.2 % Projected Collateral Scheduled Amortization 85.3 % 99.0 % 93.1 % 100.0 % Corporate debt, non-exchange traded corporate equity, and warrants 45,668 Discounted Cash Flows Yield 7.5 % 24.3 % 13.3 % Non Binding Third-Party Valuation 73.00 108.00 95.08 Fair Value Valuation Technique Unobservable Input Range Weighted Average Description Min Max (continued) (In thousands) Collateralized loan obligations (3) $ 320 Discounted Cash Flows Yield 14.4 % 14.4 % 14.4 % Projected Collateral Prepayments 62.7 % 62.7 % 62.7 % Projected Collateral Losses 4.0 % 4.0 % 4.0 % Projected Collateral Recoveries 1.7 % 1.7 % 1.7 % Projected Collateral Scheduled Amortization 31.6 % 31.6 % 31.6 % 100.0 % Consumer loans and asset-backed securities backed by consumer loans (3) 22,950 Discounted Cash Flows Yield 0.0 % 12.0 % 9.1 % Private label commercial mortgage-backed securities 40,919 Market Quotes Non Binding Third-Party Valuation $ 5.62 $ 103.25 $ 66.56 Performing commercial mortgage loans 21,328 Discounted Cash Flows Yield 9.2 % 13.1 % 10.3 % Non-performing commercial mortgage loans 6,981 Discounted Cash Flows Yield 15.3 % 20.1 % 16.4 % Months to Resolution 0.5 10.5 8.2 Non-performing residential mortgage loan pools and real estate owned 36,117 Discounted Cash Flows Yield 6.1 % 12.0 % 7.3 % Months to Resolution 4.1 79.1 24.6 Agency interest only residential mortgage-backed securities 22,928 Market Quotes Non Binding Third-Party Valuation $ 3.62 $ 24.86 $ 11.38 Agency interest only residential mortgage-backed securities 8,457 Option Adjusted Spread ("OAS") LIBOR OAS (2) (154 ) 1,796 359 Projected Collateral Prepayments 50.2 % 100.0 % 75.5 % Projected Collateral Scheduled Amortization 0.0 % 49.8 % 24.5 % 100.0 % Credit default swaps on asset-backed securities 11,148 Net Discounted Cash Flows Projected Collateral Prepayments 17.8 % 55.8 % 32.5 % Projected Collateral Losses 16.5 % 37.7 % 29.7 % Projected Collateral Recoveries 7.7 % 18.5 % 12.8 % Projected Collateral Scheduled Amortization 15.9 % 43.4 % 25.0 % 100.0 % Non-exchange traded preferred equity investment in commercial mortgage-related private partnership 6,241 Discounted Cash Flows Yield 10.0 % 10.0 % 10.0 % Expected Holding Period (Months) 17 17 17 Non-exchange traded preferred and common equity investment in mortgage-related entities 5,411 Recent Transactions Transaction Price N/A N/A N/A (1) Includes securitized debt with a fair value of $0.8 million as of December 31, 2014. (2) Shown in basis points.
Fair Value Measurement Using Significant Unobservable Inputs	Level 3—Fair Value Measurement Using Significant Unobservable Inputs: Three Month Period Ended June 30, 2015 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 26,335 $ (1,941 ) $ — $ 1,604 $ 6,317 $ (1,930 ) $ — $ — $ 30,385 Private label residential mortgage-backed securities 169,371 1,824 4,423 (40 ) 40,761 (55,420 ) 20,165 (21,038 ) 160,046 Private label commercial mortgage-backed securities 52,214 556 (91 ) (792 ) 4,538 (6,591 ) — — 49,834 Commercial mortgage loans 38,918 736 — (637 ) 26,519 (10,226 ) — — 55,310 Residential mortgage loans 30,845 405 1,422 (215 ) 3,782 (15,310 ) — — 20,929 Collateralized loan obligations 88,847 149 (819 ) 252 39,110 (29,151 ) — — 98,388 Consumer loans and asset-backed securities backed by consumer loans 34,773 (1,701 ) — 225 25,082 (5,922 ) — — 52,457 Corporate debt 31,836 16 (78 ) (1,809 ) 1,025 (4,712 ) — — 26,278 Real estate owned 9,070 — 164 (10 ) 2,774 (2,496 ) — — 9,502 Private corporate equity investments 21,300 — 115 268 1,116 (450 ) — — 22,349 Total investments, at fair value 503,509 44 5,136 (1,154 ) 151,024 (132,208 ) 20,165 (21,038 ) 525,478 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 10,809 — (1,563 ) 1,056 3 (856 ) — — 9,449 Total return swaps 118 — 285 130 21 (307 ) — — 247 Warrants 100 — — — — — — — 100 Total financial derivatives– assets, at fair value 11,027 — (1,278 ) 1,186 24 (1,163 ) — — 9,796 Total investments and financial derivatives–assets, at fair value $ 514,536 $ 44 $ 3,858 $ 32 $ 151,048 $ (133,371 ) $ 20,165 $ (21,038 ) $ 535,274 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 (continued) Liabilities: Financial derivatives–liabilities, at fair value- Credit default swaps on asset-backed securities $ (239 ) $ — $ (23 ) $ (41 ) $ — $ 23 $ — $ — $ (280 ) Total return swaps (307 ) — 353 (1,596 ) (353 ) — — — (1,903 ) Total financial derivatives– liabilities, at fair value (546 ) — 330 (1,637 ) (353 ) 23 — — (2,183 ) Securitized debt: Securitized debt (669 ) — — 1 13 — — — (655 ) Total securitized debt (669 ) — — 1 13 — — — (655 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,215 ) $ — $ 330 $ (1,636 ) $ (340 ) $ 23 $ — $ — $ (2,838 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2015 , as well as Level 3 financial instruments disposed of by the Company during the three month period ended June 30, 2015 . For Level 3 financial instruments held by the Company at June 30, 2015 , change in net unrealized gain (loss) of $(0.6) million , $1.2 million , $(1.7) million , and $1 thousand , for the three month period ended June 30, 2015 relate to investments, financial derivatives–assets, financial derivatives–liabilities, and securitized debt, respectively. As of June 30, 2015 , the Company transferred $21.0 million of non-Agency RMBS from Level 3 to Level 2. These assets were transferred from Level 3 to Level 2 based on an increased volume of observed trading of these and similar assets. This increase in observed trading activity has led to greater price transparency for these assets, thereby making a Level 2 designation appropriate in the Company's view. However, changes in the volume of observable inputs for these assets, such as a decrease in the volume of observed trading, could impact price transparency, and thereby cause a change in the level designation for these assets in future periods. In addition, as of June 30, 2015 , the Company transferred $20.2 million of non-Agency RMBS from Level 2 to Level 3. These securities have exhibited indications of a reduced level of price transparency. Examples of such indications include wider spreads relative to similar securities and a reduction in observable transactions involving these and similar securities. Changes in these indications could impact price transparency, and thereby cause a change in the level designation in future periods. Three Month Period Ended June 30, 2014 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 41,375 $ (2,045 ) $ 135 $ (728 ) $ — $ (2,497 ) $ — $ — $ 36,240 Private label residential mortgage-backed securities 490,083 5,203 7,718 3,516 64,639 (85,257 ) — — 485,902 Private label commercial mortgage-backed securities 32,645 147 3,518 (1,979 ) 28,400 (34,684 ) — — 28,047 Commercial mortgage loans 44,005 521 871 169 3,980 (12,131 ) — — 37,415 Residential mortgage loans 23,566 — 359 1,214 1,695 (3,463 ) — — 23,371 Collateralized loan obligations 47,458 (812 ) 450 (492 ) 40,300 (5,589 ) — — 81,315 Real estate owned 97 — (10 ) (13 ) 1,658 (91 ) — — 1,641 Total investments, at fair value 679,229 3,014 13,041 1,687 140,672 (143,712 ) — — 693,931 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 (continued) Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 15,174 — (467 ) 586 417 (1,548 ) — — 14,162 Total financial derivatives– assets, at fair value 15,174 — (467 ) 586 417 (1,548 ) — — 14,162 Total investments and financial derivatives–assets, at fair value $ 694,403 $ 3,014 $ 12,574 $ 2,273 $ 141,089 $ (145,260 ) $ — $ — $ 708,093 Liabilities: Financial derivatives– liabilities, at fair value- Credit default swaps on asset-backed securities $ (350 ) $ — $ (20 ) $ — $ — $ 20 $ — $ — $ (350 ) Total financial derivatives– liabilities, at fair value (350 ) — (20 ) — — 20 — — (350 ) Securitized debt: Securitized debt (983 ) (5 ) — 1 62 — — — (925 ) Total securitized debt (983 ) (5 ) — 1 62 — — — (925 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,333 ) $ (5 ) $ (20 ) $ 1 $ 62 $ 20 $ — $ — $ (1,275 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2014 , as well as Level 3 financial instruments disposed of by the Company during the three month period ended June 30, 2014 . For Level 3 financial instruments held by the Company at June 30, 2014 , change in net unrealized gain (loss) of $6.0 million , $0.6 million , and $1 thousand for the three month period ended June 30, 2014 relate to investments, financial derivatives–assets, and securitized debt, respectively. Six Month Period Ended June 30, 2015 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2015 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 31,385 $ (3,947 ) $ 472 $ 1,508 $ 7,506 $ (6,539 ) $ — $ — $ 30,385 Private label residential mortgage-backed securities 274,369 4,692 11,397 (3,889 ) 58,464 (113,848 ) 6,490 (77,629 ) 160,046 Private label commercial mortgage-backed securities 53,311 1,928 523 (2,692 ) 20,132 (23,368 ) — — 49,834 Commercial mortgage loans 28,309 1,275 — (620 ) 50,810 (24,464 ) — — 55,310 Residential mortgage loans 27,482 848 1,664 (70 ) 9,758 (18,753 ) — — 20,929 Collateralized loan obligations 123,338 (4,473 ) (48 ) (1,453 ) 49,587 (68,563 ) — — 98,388 Consumer loans and asset-backed securities backed by consumer loans 22,950 (3,419 ) — 776 41,139 (8,989 ) — — 52,457 Corporate debt 42,708 47 108 (2,390 ) 12,630 (26,825 ) — — 26,278 Real estate owned 8,635 — 248 527 5,245 (5,153 ) — — 9,502 Private corporate equity investments 14,512 — 116 498 7,688 (465 ) — — 22,349 Total investments, at fair value 626,999 (3,049 ) 14,480 (7,805 ) 262,959 (296,967 ) 6,490 (77,629 ) 525,478 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 11,387 — (1,162 ) 701 25 (1,502 ) — — 9,449 Total return swaps — — 285 248 21 (307 ) — — 247 Warrants 100 — — — — — — — 100 Total financial derivatives– assets, at fair value 11,487 — (877 ) 949 46 (1,809 ) — — 9,796 Total investments and financial derivatives–assets, at fair value $ 638,486 $ (3,049 ) $ 13,603 $ (6,856 ) $ 263,005 $ (298,776 ) $ 6,490 $ (77,629 ) $ 535,274 Liabilities: Financial derivatives–liabilities, at fair value- Credit default swaps on asset-backed securities $ (239 ) $ — $ (42 ) $ (41 ) $ — $ 42 $ — $ — $ (280 ) Total return swaps — — 353 (1,903 ) (353 ) — — — (1,903 ) Total financial derivatives– liabilities, at fair value (239 ) — 311 (1,944 ) (353 ) 42 — — (2,183 ) Securitized debt: Securitized debt (774 ) (2 ) — 20 101 — — — (655 ) Total securitized debt (774 ) (2 ) — 20 101 — — — (655 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,013 ) $ (2 ) $ 311 $ (1,924 ) $ (252 ) $ 42 $ — $ — $ (2,838 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2015 , as well as Level 3 financial instruments disposed of by the Company during the six month period ended June 30, 2015 . For Level 3 financial instruments held by the Company at June 30, 2015 , change in net unrealized gain (loss) of $(1.0) million , $1.0 million , $(1.9) million , and $20 thousand , for the six month period ended June 30, 2015 relate to investments, financial derivatives–assets, financial derivatives–liabilities, and securitized debt, respectively. As of June 30, 2015, the Company transferred $77.6 million of non-Agency RMBS from Level 3 to Level 2. These assets were transferred from Level 3 to Level 2 based on an increased volume of observed trading of these and similar assets. This increase in observed trading activity has led to greater price transparency for these assets, thereby making a Level 2 designation appropriate in the Company's view. However, changes in the volume of observable inputs for these assets, such as a decrease in the volume of observed trading, could impact price transparency, and thereby cause a change in the level designation for these assets in future periods. In addition, as of June 30, 2015, the Company transferred $6.5 million of non-Agency RMBS from Level 2 to Level 3. Since year end, these securities have exhibited indications of a reduced level of price transparency. Examples of such indications include wider spreads relative to similar securities and a reduction in observable transactions involving these and similar securities. Changes in these indications could impact price transparency, and thereby cause a change in the level designation in future periods. Six Month Period Ended June 30, 2014 (In thousands) Ending Accreted Discounts / (Amortized Premiums) Net Realized Gain/ (Loss) Change in Net Unrealized Gain/(Loss) Purchases/ Payments Sales/ Issuances Transfers Into Level 3 Transfers Out of Level 3 Ending Balance as of June 30, 2014 Assets: Investments, at fair value- Agency residential mortgage-backed securities $ 40,504 $ (4,334 ) $ 170 $ 23 $ 2,554 $ (2,677 ) $ — $ — $ 36,240 Private label residential mortgage-backed securities 580,772 10,589 31,178 (9,336 ) 154,223 (281,524 ) — — 485,902 Private label commercial mortgage-backed securities 32,994 352 4,391 (464 ) 66,169 (75,395 ) — — 28,047 Commercial mortgage loans 23,887 1,084 872 (291 ) 24,004 (12,141 ) — — 37,415 Residential mortgage loans 24,062 — 377 954 1,695 (3,717 ) — — 23,371 Collateralized loan obligations 38,069 (654 ) 354 56 54,187 (10,697 ) — — 81,315 Real estate owned — — (10 ) (17 ) 1,759 (91 ) — — 1,641 Total investments, at fair value 740,288 7,037 37,332 (9,075 ) 304,591 (386,242 ) — — 693,931 Financial derivatives–assets, at fair value- Credit default swaps on asset-backed securities 16,646 — 724 (625 ) 456 (3,039 ) — — 14,162 Total financial derivatives– assets, at fair value 16,646 — 724 (625 ) 456 (3,039 ) — — 14,162 Total investments and financial derivatives–assets, at fair value $ 756,934 $ 7,037 $ 38,056 $ (9,700 ) $ 305,047 $ (389,281 ) $ — $ — $ 708,093 Liabilities: Financial derivatives– liabilities, at fair value- Credit default swaps on asset-backed securities $ (350 ) $ — $ (39 ) $ — $ — $ 39 $ — $ — $ (350 ) Total financial derivatives– liabilities, at fair value (350 ) — (39 ) — — 39 — — (350 ) Securitized debt: Securitized debt (983 ) (12 ) — (16 ) 86 — — — (925 ) Total securitized debt (983 ) (12 ) — (16 ) 86 — — — (925 ) Total financial derivatives– liabilities and securitized debt, at fair value $ (1,333 ) $ (12 ) $ (39 ) $ (16 ) $ 86 $ 39 $ — $ — $ (1,275 ) All amounts of net realized and change in net unrealized gain (loss) in the table above are reflected in the accompanying Consolidated Statement of Operations. The table above incorporates changes in net unrealized gain (loss) for both Level 3 financial instruments held by the Company at June 30, 2014 , as well as Level 3 financial instruments disposed of by the Company during the six month period ended June 30, 2014 . For Level 3 financial instruments held by the Company at June 30, 2014 , change in net unrealized gain (loss) of $6.2 million , $(1.5) million , and $(16) thousand for the six month period ended June 30, 2014 relate to investments, financial derivatives–assets, and securitized debt, respectively.

To Be Announced RMBS (Tables)

To Be Announced RMBS (Tables)	6 Months Ended
To Be Announced RMBS (Tables)	Jun. 30, 2015
To Be Announced RMBS [Abstract]
To Be Announced RMBS [Table Text Block]	The below table details TBA assets, liabilities, and the respective related payables and receivables as of June 30, 2015 and December 31, 2014: As of June 30, 2015 December 31, 2014 Assets: (In thousands) TBA securities, at fair value (Current principal: $25,090 and $71,598, respectively) $ 24,933 $ 72,410 Receivable for securities sold relating to unsettled TBA sales 1,122,026 1,205,779 Liabilities: TBA securities sold short, at fair value (Current principal: -$1,063,670 and -$1,135,218, respectively) $ (1,119,975 ) $ (1,209,539 ) Payable for securities purchased relating to unsettled TBA purchases (24,964 ) (71,832 ) Net short TBA securities, at fair value (1,095,042 ) (1,137,129 )

Financial Derivatives (Tables)

Financial Derivatives (Tables)	6 Months Ended
Financial Derivatives (Tables)	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Gains and Losses on Derivative Contracts	Gains and losses on the Company's derivative contracts for the three and six month periods ended June 30, 2015 and 2014 are summarized in the tables below: Three and Six Month Periods Ended June 30, 2015 : Three Month Period Ended June 30, 2015 Six Month Period Ended June 30, 2015 Derivative Type Primary Risk Exposure Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (1) Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (1) (In thousands) Financial derivatives–assets Credit default swaps on asset-backed securities Credit $ (1,563 ) $ 1,056 $ (1,162 ) $ 701 Credit default swaps on asset-backed indices Credit (616 ) 588 (390 ) (664 ) Credit default swaps on corporate bond indices Credit 1,736 (2,273 ) (1,277 ) (1,445 ) Total return swaps Equity Market/Credit 2,256 130 4,066 240 Interest rate swaps Interest Rates 7,521 (7,955 ) 26,980 (14,943 ) Futures Interest Rates/Equity Market 853 (781 ) 3,251 43 Forwards Currency 235 1,191 7,520 308 Other Credit/ 3,172 729 (88 ) 1,289 13,594 (7,315 ) 38,900 (14,471 ) Financial derivatives–liabilities Credit default swaps on asset-backed securities Credit (23 ) (41 ) (42 ) (41 ) Credit default swaps on asset-backed indices Credit (28 ) 2 117 208 Credit default swaps on corporate bond indices Credit (2,607 ) 4,773 (483 ) 2,116 Credit default swaps on corporate bonds Credit (271 ) 292 (939 ) 777 Total return swaps Equity Market/Credit (6,173 ) (1,594 ) (6,631 ) (1,897 ) Interest rate swaps (2) Interest Rates (10,731 ) 16,419 (35,928 ) 20,740 Futures Interest Rates/Equity Market (752 ) (209 ) (784 ) (620 ) Forwards Currency (4,555 ) 513 (6,044 ) (69 ) Other Credit/ (2,467 ) 709 (2,217 ) 1,657 (27,607 ) 20,864 (52,951 ) 22,871 Total $ (14,013 ) $ 13,549 $ (14,051 ) $ 8,400 (1) Includes foreign currency translation on derivatives in the amount of $0.9 million and $0.1 million , for the three and six month periods ended June 30, 2015, respectively, which is included on the Consolidated Statement of Operations in Change in net unrealized gain (loss) on foreign currency translation. (2) Includes a $1.5 million reimbursement from a third party. Three and Six Month Periods Ended June 30, 2014 : Three Month Period Ended June 30, 2014 Six Month Period Ended June 30, 2014 Derivative Type Primary Risk Exposure Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) Net Realized Gain/(Loss) Change in Net Unrealized Gain/(Loss) (In thousands) Financial derivatives–assets Credit default swaps on asset-backed securities Credit $ (467 ) $ 586 $ 724 $ (625 ) Credit default swaps on asset-backed indices Credit (814 ) (106 ) (2,116 ) 39 Credit default swaps on corporate bond indices Credit 1,460 (460 ) 2,112 (775 ) Total return swaps Equity Market 1,842 10 7,767 20 Interest rate swaps Interest Rates (1,520 ) 1,949 (48 ) (4,131 ) Futures Interest Rates 926 138 966 2,573 Forwards Currency 494 (115 ) 505 52 Other Credit/ Interest Rates 55 313 108 601 1,976 2,315 10,018 (2,246 ) Financial derivatives–liabilities Credit default swaps on asset-backed securities Credit (20 ) — (39 ) — Credit default swaps on asset-backed indices Credit (161 ) 361 2,442 (1,125 ) Credit default swaps on corporate bond indices Credit (1,956 ) (656 ) (5,760 ) 3,915 Credit default swaps on corporate bonds Credit 140 (225 ) 140 (225 ) Total return swaps Equity Market 442 (12 ) (975 ) 24 Interest rate swaps Interest Rates (92 ) (7,244 ) (3,856 ) (7,713 ) Futures Interest Rates (153 ) (197 ) (26 ) (335 ) Forwards Currency (437 ) (272 ) (929 ) (276 ) Other Credit/ Interest Rates (556 ) 159 (613 ) (230 ) (2,793 ) (8,086 ) (9,616 ) (5,965 ) Total $ (817 ) $ (5,771 ) $ 402 $ (8,211 )
Derivative activity, volume	The tables below detail the average notional values of the Company's financial derivatives, using absolute value of month end notional values, for the six month period ended June 30, 2015 and the year ended December 31, 2014: Derivative Type Six Month Period Ended June 30, 2015 Year Ended December 31, 2014 (In thousands) Interest rate swaps $ 2,716,471 $ 2,227,315 Credit default swaps 785,522 552,411 Total return swaps 201,734 55,108 Futures 1,046,384 738,830 Options 693,320 926,369 Forwards 77,054 42,143 Warrants 1,554 120 Loan purchase commitments 240 —
Schedule of Credit Derivatives	Written credit derivatives held by the Company at June 30, 2015 and December 31, 2014, are summarized below: Credit Derivatives Amount at June 30, 2015 Amount at (In thousands) Fair Value of Written Credit Derivatives, Net $ 55,097 $ 27,741 Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) $ (2,914 ) $ (3,287 ) Notional Amount of Written Credit Derivatives (2) $ (493,986 ) $ (341,014 ) Notional Amount of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties (1) $ 40,728 $ 54,874 (1) Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation. (2) The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional amount of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional amount of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty.

Borrowings under Reverse Repu32

Borrowings under Reverse Repurchase Agreements (Tables)	6 Months Ended
Borrowings under Reverse Repurchase Agreements (Tables)	Jun. 30, 2015
Borrowings under Reverse Repurchase Agreements [Abstract]
Schedule of Repurchase Agreements [Table Text Block]	The following table details the Company's outstanding borrowings under reverse repurchase agreements by remaining maturity as of June 30, 2015 and December 31, 2014: (In thousands) June 30, 2015 December 31, 2014 Weighted Average Weighted Average Remaining Maturity Outstanding Borrowings Interest Rate Remaining Days to Maturity Outstanding Interest Rate Remaining Days to Maturity 30 Days or Less $ 163,608 0.70 % 16 $ 715,194 0.22 % 14 31-60 Days 140,488 0.65 % 47 322,874 0.52 % 44 61-90 Days 260,762 0.57 % 76 289,276 0.52 % 71 91-120 Days 206,113 0.47 % 107 — — % — 121-150 Days 145,900 0.49 % 136 21,236 2.03 % 139 151-180 Days 312,866 0.59 % 164 123,484 1.25 % 162 181-360 Days 21,143 2.54 % 347 47,768 0.85 % 274 >360 Days 109,528 2.44 % 450 149,601 2.41 % 631 $ 1,360,408 0.76 % 132 $ 1,669,433 0.65 % 105

Long-Term Incentive Plan Units

Long-Term Incentive Plan Units (Tables)	6 Months Ended
Long-Term Incentive Plan Units (Tables)	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Roll-Forward of Company's LTIP Units Outstanding	Detailed below is a roll-forward of the Company's LTIP units outstanding for the three and six month periods ended June 30, 2015 and 2014: Three Month Period Ended June 30, 2015 Three Month Period Ended Manager Director/ Employee Total Manager Director/ Employee Total LTIP Units Outstanding (3/31/2015 and 3/31/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 Granted — — — — — — Exercised — — — — — — LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 29,859 404,859 375,000 20,314 395,314 Six Month Period Ended June 30, 2015 Six Month Period Ended Manager Director/ Employee Total Manager Director/ Employee Total LTIP Units Outstanding (12/31/2014 and 12/31/2013, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 Granted — — — — — — Exercised — — — — — — LTIP Units Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 54,314 429,314 375,000 36,052 411,052 LTIP Units Vested and Outstanding (6/30/2015 and 6/30/2014, respectively) 375,000 29,859 404,859 375,000 20,314 395,314

Common Share Capitalization (Ta

Common Share Capitalization (Tables)	6 Months Ended
Common Share Capitalization (Tables)	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Summary of Common Shares Outstanding	Detailed below is a roll-forward of the Company's common shares outstanding for the three and six month periods ended June 30, 2015 and 2014: Three Month Three Month Six Month Six Month Common Shares Outstanding (3/31/2015, 3/31/2014, 12/31/2014, and 12/31/2013, respectively) 33,449,678 25,441,750 33,449,678 25,428,186 Share Activity: Shares issued in connection with incentive fee payment — — — 13,564 Common Shares Outstanding (6/30/2015, 6/30/2014, 6/30/2015, and 6/30/2014, respectively) 33,449,678 25,441,750 33,449,678 25,441,750

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation Of Basic And Diluted EPS	The components of the computation of basic and diluted EPS were as follows: Three Month Period Ended June 30, Six Month Period Ended June 30, 2015 2014 2015 2014 (In thousands except share amounts) Net increase in shareholders' equity resulting from operations $ 13,152 $ 20,947 $ 32,413 $ 43,582 Add: Net increase in equity resulting from operations attributable to the participating non-controlling interest (1) 82 172 202 357 Net increase in equity resulting from operations related to common shares, LTIP unit holders, and participating non-controlling interest 13,234 21,119 32,615 43,939 Net increase in shareholders' equity resulting from operations available to common share and LTIP unit holders: Net increase in shareholders' equity resulting from operations– common shares 12,985 20,614 32,002 42,889 Net increase in shareholders' equity resulting from operations– LTIP units 167 333 411 693 Dividends Paid (2) : Common shareholders (21,742 ) (19,590 ) (43,486 ) (39,180 ) LTIP unit holders (279 ) (317 ) (558 ) (633 ) Non-controlling interest (138 ) (163 ) (274 ) (327 ) Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest (22,159 ) (20,070 ) (44,318 ) (40,140 ) Undistributed (Distributed in excess of) earnings: Common shareholders (8,757 ) 1,024 (11,484 ) 3,709 LTIP unit holders (112 ) 16 (147 ) 60 Non-controlling interest (56 ) 9 (72 ) 30 Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest $ (8,925 ) $ 1,049 $ (11,703 ) $ 3,799 Weighted average shares outstanding (basic and diluted): Weighted average common shares outstanding 33,449,678 25,441,750 33,449,678 25,438,677 Weighted average participating LTIP units 429,314 411,052 429,314 411,052 Weighted average non-controlling interest units 212,000 212,000 212,000 212,000 Basic earnings per common share: Distributed $ 0.65 $ 0.77 $ 1.30 $ 1.54 Undistributed (Distributed in excess of) (0.26 ) 0.04 (0.34 ) 0.15 $ 0.39 $ 0.81 $ 0.96 $ 1.69 Diluted earnings per common share: Distributed $ 0.65 $ 0.77 $ 1.30 $ 1.54 Undistributed (Distributed in excess of) (0.26 ) 0.04 (0.34 ) 0.15 $ 0.39 $ 0.81 $ 0.96 $ 1.69 (1) For the three month periods ended June 30, 2015 and 2014, excludes net increase (decrease) in equity resulting from operations of $(11) thousand and $85 thousand , respectively attributable to joint venture partners, which have non-participating interests as described in Note 9. For the six month periods ended June 30, 2015 and 2014, excludes net increase in equity resulting from operations of $25 thousand and $103 thousand , respectively attributable to joint venture partners, which have non-participating interests as described in Note 9. (2) The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.

Counterparty Risk (Tables)

Counterparty Risk (Tables)	6 Months Ended
Counterparty Risk (Tables)	Jun. 30, 2015
Risks and Uncertainties [Abstract]
% Of Total Collateral On Reverse Repurchase Agreements	The following table details the percentage of such collateral held by counterparties who hold greater than 15% of the aggregate $1.58 billion in collateral for various reverse repurchase agreements as of June 30, 2015 . In addition to the below, unencumbered investments, on a settlement date basis, of approximately $101.6 million were held in custody at the Bank of New York Mellon Corporation. Dealer % of Total Collateral on Reverse Repurchase Agreements Royal Bank of Canada 28%
% Of Total Deposits With Dealers Held As Collateral	The following table details the percentage of collateral amounts held by dealers who hold greater than 15% of the Company's Due from Brokers, included as of June 30, 2015 : Dealer % of Total Due from Brokers Wells Fargo Bank N.A. 26% Morgan Stanley 24% J.P. Morgan Securities Inc. 18%
% Of Total Receivable For Securities Sold	The following table details the percentage of amounts held by dealers who hold greater than 15% of the Company's Receivable for securities sold as of June 30, 2015 : Dealer % of Total Receivable for Securities Sold CS First Boston 24% Morgan Stanley 23% Citigroup 18%
Schedule of Cash and Cash Equivalents [Table Text Block]	In addition the Company held cash and cash equivalents of $123.9 million and $114.1 million as of June 30, 2015 and December 31, 2014, respectively. The below table details the concentration of cash and cash equivalents held by each counterparty: As of Counterparty June 30, 2015 December 31, 2014 Bank of New York Mellon Corporation 59% 11% BlackRock Liquidity TempFund 40% 88% US Bank 1% 1%

Offsetting of Assets and Liab37

Offsetting of Assets and Liabilities (Tables)	6 Months Ended
Offsetting of Assets and Liabilities (Tables)	Jun. 30, 2015
Offsetting of Assets and Liabilities [Abstract]
Offsetting of Assets and Liabilities [Table Text Block]	The following tables present information about certain assets and liabilities representing financial instruments as of June 30, 2015 and December 31, 2014. The Company has not entered into master netting agreements with any of its counterparties. Certain of the Company's repurchase and reverse repurchase agreements and financial derivative transactions are governed by underlying agreements that generally provide a right of offset in the event of default or in the event of a bankruptcy of either party to the transaction. June 30, 2015 : Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 91,665 $ (35,719 ) $ — $ (29,777 ) $ 26,169 Repurchase agreements 53,788 (53,788 ) — — — Liabilities Financial derivatives–liabilities (45,565 ) 35,719 — 9,788 (58 ) Reverse repurchase agreements (1,360,408 ) 53,788 1,268,227 38,393 — December 31, 2014: Description Amount of Assets (Liabilities) Presented in the Consolidated Statements of Assets, Liabilities, and Equity (1) Financial Instruments Available for Offset Financial Instruments Transferred or Pledged as Collateral (2)(3) Cash Collateral (Received) Pledged (2)(3) Net Amount (In thousands) Assets Financial derivatives–assets $ 80,029 $ (40,671 ) $ — $ (5,578 ) $ 33,780 Repurchase agreements 172,001 (172,001 ) — — — Liabilities Financial derivatives–liabilities (66,116 ) 26,758 — 17,393 (21,965 ) Reverse repurchase agreements (1,669,433 ) 172,001 1,483,187 14,245 — (1) In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis. (2) For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of June 30, 2015 and December 31, 2014 were $1.58 billion and $1.94 billion , respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $30.5 million and $22.7 million , respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $28.7 million and $23.2 million , respectively. (3) When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Financial Highlights (Tables)

Financial Highlights (Tables)	6 Months Ended
Financial Highlights (Tables)	Jun. 30, 2015
Financial Highlights [Abstract]
Results of Operations For a Share Outstanding	Results of Operations for a Share Outstanding Throughout the Periods: Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Beginning Shareholders' Equity Per Share (3/31/2015, 3/31/2014, 12/31/2014, and 12/31/2013, respectively) $ 23.30 $ 24.49 $ 23.38 $ 24.40 Net Investment Income 0.53 0.51 1.05 1.06 Net Realized/Unrealized Gains (Losses) (0.13 ) 0.33 (0.07 ) 0.67 Results of Operations Attributable to Equity 0.40 0.84 0.98 1.73 Less: Results of Operations Attributable to Non-controlling Interests — (0.01 ) (0.01 ) (0.02 ) Results of Operations Attributable to Shareholders' Equity (1) 0.40 0.83 0.97 1.71 Dividends Paid to Common Shareholders (0.65 ) (0.77 ) (1.30 ) (1.54 ) Weighted Average Share Impact on Dividends Paid (2) (0.01 ) (0.02 ) (0.01 ) (0.04 ) Ending Shareholders' Equity Per Share (6/30/2015, 6/30/2014, 6/30/2015, and 6/30/2014, respectively) (3) $ 23.04 $ 24.53 $ 23.04 $ 24.53 Shares Outstanding, end of period 33,449,678 25,441,750 33,449,678 25,441,750 (1) Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 11). (2) Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders. (3) If all LTIP units and OP Units previously issued were vested and exchanged for common shares as of June 30, 2015 and 2014, shareholders' equity per share would be $22.75 and $24.14, respectively.
Net Asset Value Based Total Return For a Shareholder	The following table illustrates the Company's total return for the periods presented based on net asset value: Net Asset Value Based Total Return for a Shareholder: (1) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Total Return 1.67% 3.36% 4.18% 7.03% (1) Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period.
Net Investment Income Ratio to Average Equity	Net Investment Income Ratio to Average Equity: (1) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Net Investment Income (2) 8.99% 8.27% 9.00% 8.67% (1) Average equity is calculated using month end values. (2) Includes all items of income and expense on an annualized basis.
Expense Ratios to Average Equity	Expense Ratios to Average Equity: (1)(2) Three Month Period Ended Three Month Period Ended Six Month Period Ended Six Month Period Ended Operating expenses, before interest expense and other investment related expenses (2.54)% (2.76)% (2.60)% (2.78)% Interest expense and other investment related expenses (2.04)% (2.32)% (2.10)% (2.15)% Total Expenses (4.58)% (5.08)% (4.70)% (4.93)% (1) Average equity is calculated using month end values. (2) Includes all items of income and expense on an annualized basis.

Organization and Investment O39

Organization and Investment Objective Narrative (Details)	Jun. 30, 2015
Parent [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership Percentage	99.40%

Significant Accounting Polici40

Significant Accounting Policies (Details)	6 Months Ended	12 Months Ended
Significant Accounting Policies (Details)	Jun. 30, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Number of days to determine non-performance of loan	90 days
Long-Term Incentive Plan Units [Member] \| Director [Member]
Significant Accounting Policies [Line Items]
Vesting period		1 year
Minimum [Member] \| Long-Term Incentive Plan Units [Member] \| Dedicated or partially dedicated personnel [Member]
Significant Accounting Policies [Line Items]
Vesting period		1 year
Maximum [Member] \| Long-Term Incentive Plan Units [Member] \| Dedicated or partially dedicated personnel [Member]
Significant Accounting Policies [Line Items]
Vesting period		2 years

Valuation (Schedule Of Financia

Valuation (Schedule Of Financial Instruments) (Details) - USD ($)		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-	[1]	$ 91,665,000		$ 80,029,000
Fair value repurchase agreements	[1]	53,788,000		172,001,000
Investments sold short, at fair value-		(1,183,384,000)		(1,291,370,000)
Financial derivatives–liabilities, at fair value-	[1]	(45,565,000)		(66,116,000)
Securitized Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Security Owned and Pledged as Collateral, Fair Value		2,100,000		2,200,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments and financial derivatives–assets, at fair value and repurchase agreements		236,000		261,000
Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value		(633,000)		(26,597,000)
Level 1 [Member] \| Investments Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		(26,516,000)
Level 1 [Member] \| Investments Sold Short [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Level 1 [Member] \| Investments Sold Short [Member] \| Government debt sold short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Level 1 [Member] \| Investments Sold Short [Member] \| Common Stock Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(26,516,000)
Level 1 [Member] \| Financial Derivatives - Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(633,000)		(81,000)
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(633,000)		(81,000)
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Level 1 [Member] \| Securitized Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securitized debt(1)		0	[2]	0	[3]
Level 1 [Member] \| Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents		50,000,000		100,000,000	[4]
Level 1 [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Level 1 [Member] \| Investments [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Commercial Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Residential Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0	[4]
Level 1 [Member] \| Investments [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0	[4]
Level 1 [Member] \| Investments [Member] \| Corporate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Investments [Member] \| Private Corporate Equity Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		236,000		261,000
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		236,000		261,000
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Financial Derivatives - Assets [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 1 [Member] \| Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value repurchase agreements		0		0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments and financial derivatives–assets, at fair value and repurchase agreements		1,480,194,000		1,785,365,000
Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value		(1,226,133,000)		(1,330,650,000)
Level 2 [Member] \| Investments Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(1,183,384,000)		(1,264,854,000)
Level 2 [Member] \| Investments Sold Short [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(1,119,975,000)		(1,209,539,000)
Level 2 [Member] \| Investments Sold Short [Member] \| Government debt sold short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(63,409,000)		(55,315,000)
Level 2 [Member] \| Investments Sold Short [Member] \| Common Stock Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Level 2 [Member] \| Financial Derivatives - Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(42,749,000)		(65,796,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(24,400,000)		(28,588,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(320,000)		(2,953,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(6,507,000)		(4,410,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(9,303,000)		(29,405,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(16,000)		(21,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,334,000)		(146,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(664,000)		(137,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(205,000)		(136,000)
Level 2 [Member] \| Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Level 2 [Member] \| Securitized Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securitized debt(1)		0	[2]	0	[3]
Level 2 [Member] \| Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents		0		0	[4]
Level 2 [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		1,344,773,000		1,545,083,000
Level 2 [Member] \| Investments [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		1,119,020,000		1,258,699,000
Level 2 [Member] \| Investments [Member] \| US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,636,000
Level 2 [Member] \| Investments [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		225,753,000		284,748,000
Level 2 [Member] \| Investments [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Investments [Member] \| Commercial Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Investments [Member] \| Residential Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Investments [Member] \| Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0	[4]
Level 2 [Member] \| Investments [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0	[4]
Level 2 [Member] \| Investments [Member] \| Corporate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Investments [Member] \| Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Investments [Member] \| Private Corporate Equity Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		81,633,000		68,281,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		61,542,000		35,865,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		2,594,000		1,881,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		15,021,000		28,654,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		1,000		8,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		564,000		645,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		719,000		344,000
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 2 [Member] \| Financial Derivatives - Assets [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		1,192,000		884,000
Level 2 [Member] \| Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value repurchase agreements		53,788,000		172,001,000
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments and financial derivatives–assets, at fair value and repurchase agreements		535,274,000		638,486,000
Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value		(2,838,000)		(1,013,000)
Level 3 [Member] \| Investments Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Level 3 [Member] \| Investments Sold Short [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Level 3 [Member] \| Investments Sold Short [Member] \| Government debt sold short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		0		0
Level 3 [Member] \| Investments Sold Short [Member] \| Common Stock Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(2,183,000)		(239,000)
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(280,000)		(239,000)
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,903,000)		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Level 3 [Member] \| Securitized Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securitized debt(1)		(655,000)	[2]	(774,000)	[3]
Level 3 [Member] \| Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents		0		0	[4]
Level 3 [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		525,478,000		626,999,000
Level 3 [Member] \| Investments [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		30,385,000		31,385,000
Level 3 [Member] \| Investments [Member] \| US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				0
Level 3 [Member] \| Investments [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		160,046,000		274,369,000
Level 3 [Member] \| Investments [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		49,834,000		53,311,000
Level 3 [Member] \| Investments [Member] \| Commercial Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		55,310,000		28,309,000
Level 3 [Member] \| Investments [Member] \| Residential Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		20,929,000		27,482,000
Level 3 [Member] \| Investments [Member] \| Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		98,388,000		121,994,000	[4]
Level 3 [Member] \| Investments [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		52,457,000		24,294,000	[4]
Level 3 [Member] \| Investments [Member] \| Corporate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		26,278,000		42,708,000
Level 3 [Member] \| Investments [Member] \| Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		9,502,000		8,635,000
Level 3 [Member] \| Investments [Member] \| Private Corporate Equity Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		22,349,000		14,512,000
Level 3 [Member] \| Financial Derivatives - Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		9,796,000		11,487,000
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		9,449,000		11,387,000
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		247,000		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		100,000		100,000
Level 3 [Member] \| Financial Derivatives - Assets [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		0		0
Level 3 [Member] \| Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value repurchase agreements		0		0
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments and financial derivatives–assets, at fair value and repurchase agreements		2,015,704,000		2,424,112,000
Total investments sold short, financial derivatives–liabilities, and securitized debt, at fair value		(1,229,604,000)		(1,358,260,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(1,183,384,000)		(1,291,370,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments Sold Short [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(1,119,975,000)		(1,209,539,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments Sold Short [Member] \| Government debt sold short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-		(63,409,000)		(55,315,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments Sold Short [Member] \| Common Stock Sold Short [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments sold short, at fair value-				(26,516,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(45,565,000)		(66,116,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(24,400,000)		(28,588,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(320,000)		(2,953,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(6,507,000)		(4,410,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(280,000)		(239,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(9,303,000)		(29,405,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,919,000)		(21,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(1,334,000)		(146,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(664,000)		(137,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(633,000)		(81,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		(205,000)		(136,000)
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Liabilities [Member] \| Loan Purchase Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–liabilities, at fair value-		0
Estimate of Fair Value, Fair Value Disclosure [Member] \| Securitized Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securitized debt(1)		(655,000)	[2]	(774,000)	[3]
Estimate of Fair Value, Fair Value Disclosure [Member] \| Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents		50,000,000		100,000,000	[4]
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		1,870,251,000		2,172,082,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		1,149,405,000		1,290,084,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-				1,636,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		385,799,000		559,117,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		49,834,000		53,311,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Commercial Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		55,310,000		28,309,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Residential Mortgage Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		20,929,000		27,482,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		98,388,000		121,994,000	[4]
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		52,457,000		24,294,000	[4]
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Corporate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		26,278,000		42,708,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		9,502,000		8,635,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Investments [Member] \| Private Corporate Equity Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value-		22,349,000		14,512,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		91,665,000		80,029,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		61,542,000		35,865,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		2,594,000		1,881,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		9,449,000		11,387,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		15,021,000		28,654,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		248,000		8,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Options [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		564,000		645,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Swaption [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		719,000		344,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		236,000		261,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		100,000		100,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Financial Derivatives - Assets [Member] \| Forwards [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial derivatives–assets, at fair value-		1,192,000		884,000
Estimate of Fair Value, Fair Value Disclosure [Member] \| Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value repurchase agreements		53,788,000		172,001,000
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Transfers between Level 1 and Level 2		$ 0		$ 0

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	The asset subject to the resecuritization had a fair value of $2.1 million as of June 30, 2015, which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities.
[3]	The asset subject to the resecuritization had a fair value of $2.2 million as of December 31, 2014, which is included on the Consolidated Schedule of Investments under Principal and Interest – Private Label Securities.
[4]	Conformed to current period presentation.

Valuation (Schedule Of Signific

Valuation (Schedule Of Significant Unobservable Inputs, Qualitative Information) (Details) - USD ($)		6 Months Ended		12 Months Ended
		Jun. 30, 2015		Dec. 31, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Securitized debt		$ 655,000		$ 774,000
Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		535,274,000		638,486,000
Financial and Nonfinancial Liabilities, Fair Value Disclosure		2,838,000		1,013,000
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Asset-backed Securities backed by consumer loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value	[1]			$ 1,344,000
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Asset-backed Securities backed by consumer loans [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[1]			100
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Asset-backed Securities backed by consumer loans [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[1]			100
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Asset-backed Securities backed by consumer loans [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[1]			100
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Corporate Debt and non-exchange traded corporate equity [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 24,023,000
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Corporate Debt and non-exchange traded corporate equity [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		4.33
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Corporate Debt and non-exchange traded corporate equity [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		150
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Corporate Debt and non-exchange traded corporate equity [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		74.47
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Residential Mortgage Backed Securities and Securitized Debt [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 107,222,000	[2]	$ 201,373,000	[3]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Residential Mortgage Backed Securities and Securitized Debt [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		1.79	[2]	1.83	[3]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Residential Mortgage Backed Securities and Securitized Debt [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		117.41	[2]	119.58	[3]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Residential Mortgage Backed Securities and Securitized Debt [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		68.87	[2]	73.58	[3]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 87,996,000		$ 121,674,000	[1]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		22.15		21.50	[1]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		134.50		137	[1]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		95.92		94.85	[1]
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 32,378,000		$ 40,919,000
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		5.60		5.62
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		98.06		103.25
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		51.82		66.56
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 26,390,000		$ 22,928,000
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		3.33		3.62
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		23.21		24.86
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation		12.05		11.38
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Total Return Swaps [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure		$ (1,656,000)
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Total Return Swaps [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[4]	50.33
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Total Return Swaps [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[4]	100.75
Level 3 [Member] \| Market Approach Valuation Technique [Member] \| Total Return Swaps [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation	[4]	60.90
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 52,457,000		$ 22,950,000	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		6.80%		0.00%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		17.00%		12.00%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		11.60%		9.10%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt, Non-exchange traded corporate equity, and warrants [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value				$ 45,668,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt, Non-exchange traded corporate equity, and warrants [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation				73
Yield				7.50%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt, Non-exchange traded corporate equity, and warrants [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation				108
Yield				24.30%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt, Non-exchange traded corporate equity, and warrants [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Non Binding Third-Party Valuation				95.08
Yield				13.30%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt and warrants [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 8,500,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt and warrants [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		15.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt and warrants [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		15.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Corporate debt and warrants [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		15.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 10,392,000		$ 320,000	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		6.70%		14.40%	[1]
Projected Collateral Prepayments		40.70%		62.70%	[1]
Fair Value Inputs Losses		1.90%		4.00%	[1]
Fair Value Inputs Projected Collateral Recoveries		0.90%		1.70%	[1]
Fair Value Inputs Projected Collateral Scheduled Amortization		20.40%		31.60%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		60.40%		14.40%	[1]
Projected Collateral Prepayments		70.40%		62.70%	[1]
Fair Value Inputs Losses		26.60%		4.00%	[1]
Fair Value Inputs Projected Collateral Recoveries		10.90%		1.70%	[1]
Fair Value Inputs Projected Collateral Scheduled Amortization		34.10%		31.60%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Collateralized Loan Obligations [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		28.60%		14.40%	[1]
Projected Collateral Prepayments		54.30%		62.70%	[1]
Fair Value Inputs Losses		13.30%		4.00%	[1]
Fair Value Inputs Projected Collateral Recoveries		5.70%		1.70%	[1]
Fair Value Inputs Projected Collateral Scheduled Amortization		26.70%		31.60%	[1]
Total Outstanding Collateral		100.00%		100.00%	[1]
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 52,169,000		$ 72,222,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Residential Mortgage-Backed Securities [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		6.20%		3.00%
Projected Collateral Prepayments		7.20%		6.70%
Fair Value Inputs Losses		2.80%		0.00%
Fair Value Inputs Projected Collateral Recoveries		3.20%		0.00%
Fair Value Inputs Projected Collateral Scheduled Amortization		7.50%		0.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Residential Mortgage-Backed Securities [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		45.80%		13.60%
Projected Collateral Prepayments		75.40%		100.00%
Fair Value Inputs Losses		31.60%		44.50%
Fair Value Inputs Projected Collateral Recoveries		18.40%		22.40%
Fair Value Inputs Projected Collateral Scheduled Amortization		70.80%		86.40%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Residential Mortgage-Backed Securities [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		11.30%		7.00%
Projected Collateral Prepayments		36.80%		45.60%
Fair Value Inputs Losses		15.70%		11.30%
Fair Value Inputs Projected Collateral Recoveries		10.80%		8.00%
Fair Value Inputs Projected Collateral Scheduled Amortization		36.70%		35.10%
Total Outstanding Collateral		100.00%		100.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 17,456,000		$ 12,392,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		11.70%		12.00%
Fair Value Inputs Losses		0.00%		0.10%
Fair Value Inputs Projected Collateral Recoveries		0.00%		0.90%
Fair Value Inputs Projected Collateral Scheduled Amortization		77.50%		85.30%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		36.90%		51.10%
Fair Value Inputs Losses		4.30%		2.50%
Fair Value Inputs Projected Collateral Recoveries		18.20%		13.50%
Fair Value Inputs Projected Collateral Scheduled Amortization		100.00%		99.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Private Label Commercial Mortgage-Backed Securities [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		20.20%		23.70%
Fair Value Inputs Losses		1.10%		0.70%
Fair Value Inputs Projected Collateral Recoveries		4.50%		6.20%
Fair Value Inputs Projected Collateral Scheduled Amortization		94.40%		93.10%
Total Outstanding Collateral		100.00%		100.00%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Performing Commercial Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 43,900,000		$ 21,328,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Performing Commercial Mortgage Loans [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		9.80%		9.20%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Performing Commercial Mortgage Loans [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		17.80%		13.10%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Performing Commercial Mortgage Loans [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		11.90%		10.30%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Non-performing Commercial Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 11,410,000		$ 6,981,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Non-performing Commercial Mortgage Loans [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		12.40%		15.30%
Months to Resolution		3 months		15 days
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Non-performing Commercial Mortgage Loans [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		16.10%		20.10%
Months to Resolution		10 months 15 days		10 months 15 days
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Non-performing Commercial Mortgage Loans [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		14.00%		16.40%
Months to Resolution		7 months 8 days		8 months 6 days
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 3,995,000		$ 8,457,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		21.40%		50.20%
Fair Value Inputs Projected Collateral Scheduled Amortization		0.00%		0.00%
LIBOR OAS	[5]	(1.86%)		(1.54%)
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		100.00%		100.00%
Fair Value Inputs Projected Collateral Scheduled Amortization		78.60%		49.80%
LIBOR OAS	[5]	7.80%		17.96%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Agency Interest Only Residential Mortgage-Backed Securities [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		68.00%		75.50%
Fair Value Inputs Projected Collateral Scheduled Amortization		32.00%		24.50%
Total Outstanding Collateral		100.00%		100.00%
LIBOR OAS	[5]	5.96%		3.59%
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Residential Mortgage Loans and Real Estate Owned Properties [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 30,431,000		$ 36,117,000
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Residential Mortgage Loans and Real Estate Owned Properties [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		6.10%		6.10%
Months to Resolution		4 months 3 days		4 months 3 days
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Residential Mortgage Loans and Real Estate Owned Properties [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		12.00%		12.00%
Months to Resolution		109 months 21 days		79 months 3 days
Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Residential Mortgage Loans and Real Estate Owned Properties [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		7.30%		7.30%
Months to Resolution		27 months 12 days		24 months 18 days
Credit Default Swaps On Asset Backed Securities [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 9,169,000		$ 11,148,000
Credit Default Swaps On Asset Backed Securities [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		26.10%		17.80%
Fair Value Inputs Losses		15.40%		16.50%
Fair Value Inputs Projected Collateral Recoveries		7.00%		7.70%
Fair Value Inputs Projected Collateral Scheduled Amortization		16.50%		15.90%
Credit Default Swaps On Asset Backed Securities [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		57.10%		55.80%
Fair Value Inputs Losses		36.40%		37.70%
Fair Value Inputs Projected Collateral Recoveries		17.40%		18.50%
Fair Value Inputs Projected Collateral Scheduled Amortization		31.90%		43.40%
Credit Default Swaps On Asset Backed Securities [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Projected Collateral Prepayments		31.40%		32.50%
Fair Value Inputs Losses		28.10%		29.70%
Fair Value Inputs Projected Collateral Recoveries		12.90%		12.80%
Fair Value Inputs Projected Collateral Scheduled Amortization		27.60%		25.00%
Total Outstanding Collateral		100.00%		100.00%
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-related Private Partnership \| Level 3 [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value				$ 6,241,000
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-related Private Partnership \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield				10.00%
Expected Holding Period (Months)				17 months
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-related Private Partnership \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield				10.00%
Expected Holding Period (Months)				17 months
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred Equity Investment in Commercial Mortgage-related Private Partnership \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield				10.00%
Expected Holding Period (Months)				17 months
Private Corporate Equity Investments [Member] \| Non-exchange traded equity investments in commercial mortgage-related private partnerships [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 10,966,000
Private Corporate Equity Investments [Member] \| Non-exchange traded equity investments in commercial mortgage-related private partnerships [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		10.00%
Expected Holding Period (Months)		12 months
Private Corporate Equity Investments [Member] \| Non-exchange traded equity investments in commercial mortgage-related private partnerships [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		16.00%
Expected Holding Period (Months)		20 months 27 days
Private Corporate Equity Investments [Member] \| Non-exchange traded equity investments in commercial mortgage-related private partnerships [Member] \| Level 3 [Member] \| Income Approach Valuation Technique [Member] \| Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Yield		12.00%
Expected Holding Period (Months)		14 months 9 days
Private Corporate Equity Investments [Member] \| Non-Exchange Traded Preferred and Common Equity Investment in Mortgage-Related Entities [Member] \| Level 3 [Member] \| Recent Transactions [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value		$ 5,238,000		$ 5,411,000

[1]	Conformed to current period presentation.
[2]	Includes securitized debt with a fair value of $0.7 million as of June 30, 2015.
[3]	Includes securitized debt with a fair value of $0.8 million as of December 31, 2014.
[4]	Represents valuations on underlying assets.
[5]	Shown in basis points.

Valuation (Fair Value Measureme

Valuation (Fair Value Measurement Using Significant Unobservable Inputs) (Details) - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	$ 514,536	$ 694,403	$ 638,486	$ 756,934
Assets, Accreted Discounts/Amortized Premiums	44	3,014	(3,049)	7,037
Assets, Realized Gain (Loss)	3,858	12,574	13,603	38,056
Assets, Change In Net Unrealized Gain/(Loss)	32	2,273	(6,856)	(9,700)
Assets, Purchases	151,048	141,089	263,005	305,047
Assets, Sales	(133,371)	(145,260)	(298,776)	(389,281)
Assets, Transfers into Level 3	20,165	0	6,490	0
Assets, Transfers out of Level 3	(21,038)	0	(77,629)	0
Assets, Ending Balance	535,274	708,093	535,274	708,093
Liabilities, Begining Balance	(1,215)	(1,333)	(1,013)	(1,333)
Liabilities, Accreted Discounts/Amortized Premiums	0	(5)	(2)	(12)
Liabilities, Realized Gain/(Loss)	330	(20)	311	(39)
Liabilities, Change In Net Unrealized Gain/(Loss)	(1,636)	1	(1,924)	(16)
Liabilities Purchases/Payments	(340)	62	(252)	86
Liabilities, Sales/Issuance	23	20	42	39
Liabilities, Transfers into Level 3	0	0	0	0
Liabilities, Transfers out of Level 3	0	0	0	0
Liabilities, Ending Balance	(2,838)	(1,275)	(2,838)	(1,275)
Change in net unrealized gain (loss) on investments	(600)	6,000	(1,000)	6,200
Change in net unrealized gain (loss) in financial derivative assets	1,200	600	1,000	(1,500)
Change in net unrealized Gain (Loss) on financial derivative liabilities	(1,700)		(1,900)
Change in net unrealized gain (loss) in securitized debt	1	1	20	(16)
Securitized Debt [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	(669)	(983)	(774)	(983)
Liabilities, Accreted Discounts/Amortized Premiums	0	(5)	(2)	(12)
Liabilities, Realized Gain/(Loss)	0	0	0	0
Liabilities, Change In Net Unrealized Gain/(Loss)	1	1	20	(16)
Liabilities, Payments	13	62	101	86
Liabilities, Issuances	0	0	0	0
Liabilities, Transfers into Level 3	0	0	0	0
Liabilities, Transfers out of Level 3	0	0	0	0
Liabilities, Ending Balance	(655)	(925)	(655)	(925)
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	503,509	679,229	626,999	740,288
Assets, Accreted Discounts/Amortized Premiums	44	3,014	(3,049)	7,037
Assets, Realized Gain (Loss)	5,136	13,041	14,480	37,332
Assets, Change In Net Unrealized Gain/(Loss)	(1,154)	1,687	(7,805)	(9,075)
Assets, Purchases	151,024	140,672	262,959	304,591
Assets, Sales	(132,208)	(143,712)	(296,967)	(386,242)
Assets, Transfers into Level 3	20,165	0	6,490	0
Assets, Transfers out of Level 3	(21,038)	0	(77,629)	0
Assets, Ending Balance	525,478	693,931	525,478	693,931
Investments [Member] \| Agency residential mortgage-backed securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	26,335	41,375	31,385	40,504
Assets, Accreted Discounts/Amortized Premiums	(1,941)	(2,045)	(3,947)	(4,334)
Assets, Realized Gain (Loss)	0	135	472	170
Assets, Change In Net Unrealized Gain/(Loss)	1,604	(728)	1,508	23
Assets, Purchases	6,317	0	7,506	2,554
Assets, Sales	(1,930)	(2,497)	(6,539)	(2,677)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	30,385	36,240	30,385	36,240
Investments [Member] \| Private Label Residential Mortgage-Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	169,371	490,083	274,369	580,772
Assets, Accreted Discounts/Amortized Premiums	1,824	5,203	4,692	10,589
Assets, Realized Gain (Loss)	4,423	7,718	11,397	31,178
Assets, Change In Net Unrealized Gain/(Loss)	(40)	3,516	(3,889)	(9,336)
Assets, Purchases	40,761	64,639	58,464	154,223
Assets, Sales	(55,420)	(85,257)	(113,848)	(281,524)
Assets, Transfers into Level 3	20,165	0	6,490	0
Assets, Transfers out of Level 3	(21,038)	0	(77,629)	0
Assets, Ending Balance	160,046	485,902	160,046	485,902
Investments [Member] \| Private Label Commercial Mortgage-Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	52,214	32,645	53,311	32,994
Assets, Accreted Discounts/Amortized Premiums	556	147	1,928	352
Assets, Realized Gain (Loss)	(91)	3,518	523	4,391
Assets, Change In Net Unrealized Gain/(Loss)	(792)	(1,979)	(2,692)	(464)
Assets, Purchases	4,538	28,400	20,132	66,169
Assets, Sales	(6,591)	(34,684)	(23,368)	(75,395)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	49,834	28,047	49,834	28,047
Investments [Member] \| Commercial Mortgage Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	38,918	44,005	28,309	23,887
Assets, Accreted Discounts/Amortized Premiums	736	521	1,275	1,084
Assets, Realized Gain (Loss)	0	871	0	872
Assets, Change In Net Unrealized Gain/(Loss)	(637)	169	(620)	(291)
Assets, Purchases	26,519	3,980	50,810	24,004
Assets, Sales	(10,226)	(12,131)	(24,464)	(12,141)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	55,310	37,415	55,310	37,415
Investments [Member] \| Residential Mortgage Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	30,845	23,566	27,482	24,062
Assets, Accreted Discounts/Amortized Premiums	405	0	848	0
Assets, Realized Gain (Loss)	1,422	359	1,664	377
Assets, Change In Net Unrealized Gain/(Loss)	(215)	1,214	(70)	954
Assets, Purchases	3,782	1,695	9,758	1,695
Assets, Sales	(15,310)	(3,463)	(18,753)	(3,717)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	20,929	23,371	20,929	23,371
Investments [Member] \| Collateralized Loan Obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	88,847	47,458	123,338	38,069
Assets, Accreted Discounts/Amortized Premiums	149	(812)	(4,473)	(654)
Assets, Realized Gain (Loss)	(819)	450	(48)	354
Assets, Change In Net Unrealized Gain/(Loss)	252	(492)	(1,453)	56
Assets, Purchases	39,110	40,300	49,587	54,187
Assets, Sales	(29,151)	(5,589)	(68,563)	(10,697)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	98,388	81,315	98,388	81,315
Investments [Member] \| Consumer loans and asset-backed securities backed by consumer loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	34,773		22,950
Assets, Accreted Discounts/Amortized Premiums	(1,701)		(3,419)
Assets, Realized Gain (Loss)	0		0
Assets, Change In Net Unrealized Gain/(Loss)	225		776
Assets, Purchases	25,082		41,139
Assets, Sales	(5,922)		(8,989)
Assets, Transfers into Level 3	0		0
Assets, Transfers out of Level 3	0		0
Assets, Ending Balance	52,457		52,457
Investments [Member] \| Corporate Debt [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	31,836		42,708
Assets, Accreted Discounts/Amortized Premiums	16		47
Assets, Realized Gain (Loss)	(78)		108
Assets, Change In Net Unrealized Gain/(Loss)	(1,809)		(2,390)
Assets, Purchases	1,025		12,630
Assets, Sales	(4,712)		(26,825)
Assets, Transfers into Level 3	0		0
Assets, Transfers out of Level 3	0		0
Assets, Ending Balance	26,278		26,278
Investments [Member] \| Real Estate Owned [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	9,070	97	8,635	0
Assets, Accreted Discounts/Amortized Premiums	0	0	0	0
Assets, Realized Gain (Loss)	164	(10)	248	(10)
Assets, Change In Net Unrealized Gain/(Loss)	(10)	(13)	527	(17)
Assets, Purchases	2,774	1,658	5,245	1,759
Assets, Sales	(2,496)	(91)	(5,153)	(91)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	9,502	1,641	9,502	1,641
Investments [Member] \| Private Corporate Equity Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	21,300		14,512
Assets, Accreted Discounts/Amortized Premiums	0		0
Assets, Realized Gain (Loss)	115		116
Assets, Change In Net Unrealized Gain/(Loss)	268		498
Assets, Purchases	1,116		7,688
Assets, Sales	(450)		(465)
Assets, Transfers into Level 3	0		0
Assets, Transfers out of Level 3	0		0
Assets, Ending Balance	22,349		22,349
Financial Derivatives - Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	11,027	15,174	11,487	16,646
Assets, Accreted Discounts/Amortized Premiums	0	0	0	0
Assets, Realized Gain (Loss)	(1,278)	(467)	(877)	724
Assets, Change In Net Unrealized Gain/(Loss)	1,186	586	949	(625)
Assets, Purchases	24	417	46	456
Assets, Sales	(1,163)	(1,548)	(1,809)	(3,039)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	9,796	14,162	9,796	14,162
Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	10,809	15,174	11,387	16,646
Assets, Accreted Discounts/Amortized Premiums	0	0	0	0
Assets, Realized Gain (Loss)	(1,563)	(467)	(1,162)	724
Assets, Change In Net Unrealized Gain/(Loss)	1,056	586	701	(625)
Assets, Purchases	3	417	25	456
Assets, Sales	(856)	(1,548)	(1,502)	(3,039)
Assets, Transfers into Level 3	0	0	0	0
Assets, Transfers out of Level 3	0	0	0	0
Assets, Ending Balance	9,449	14,162	9,449	14,162
Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	118		0
Assets, Accreted Discounts/Amortized Premiums	0		0
Assets, Realized Gain (Loss)	285		285
Assets, Change In Net Unrealized Gain/(Loss)	130		248
Assets, Purchases	21		21
Assets, Sales	(307)		(307)
Assets, Transfers into Level 3	0		0
Assets, Transfers out of Level 3	0		0
Assets, Ending Balance	247		247
Financial Derivatives - Assets [Member] \| Warrant [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets, Beginning Balance	100		100
Assets, Accreted Discounts/Amortized Premiums	0		0
Assets, Realized Gain (Loss)	0		0
Assets, Change In Net Unrealized Gain/(Loss)	0		0
Assets, Purchases	0		0
Assets, Sales	0		0
Assets, Transfers into Level 3	0		0
Assets, Transfers out of Level 3	0		0
Assets, Ending Balance	100		100
Financial Derivatives - Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	(546)	(350)	(239)	(350)
Liabilities, Accreted Discounts/Amortized Premiums	0	0	0	0
Liabilities, Realized Gain/(Loss)	330	(20)	311	(39)
Liabilities, Change In Net Unrealized Gain/(Loss)	(1,637)	0	(1,944)	0
Liabilities, Purchases	(353)	0	(353)	0
Liabilities, Sales	23	20	42	39
Liabilities, Transfers into Level 3	0	0	0	0
Liabilities, Transfers out of Level 3	0	0	0	0
Liabilities, Ending Balance	(2,183)	(350)	(2,183)	(350)
Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	(239)	(350)	(239)	(350)
Liabilities, Accreted Discounts/Amortized Premiums	0	0	0	0
Liabilities, Realized Gain/(Loss)	(23)	(20)	(42)	(39)
Liabilities, Change In Net Unrealized Gain/(Loss)	(41)	0	(41)	0
Liabilities, Purchases	0	0	0	0
Liabilities, Sales	23	20	42	39
Liabilities, Transfers into Level 3	0	0	0	0
Liabilities, Transfers out of Level 3	0	0	0	0
Liabilities, Ending Balance	(280)	$ (350)	(280)	$ (350)
Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liabilities, Begining Balance	(307)		0
Liabilities, Accreted Discounts/Amortized Premiums	0		0
Liabilities, Realized Gain/(Loss)	353		353
Liabilities, Change In Net Unrealized Gain/(Loss)	(1,596)		(1,903)
Liabilities, Purchases	(353)		(353)
Liabilities, Sales	0		0
Liabilities, Transfers into Level 3	0		0
Liabilities, Transfers out of Level 3	0		0
Liabilities, Ending Balance	$ (1,903)		$ (1,903)

Valuation (Narrative) (Details)

Valuation (Narrative) (Details) $ in Millions	Jun. 30, 2015USD ($)
Valuation [Abstract]
Mortgage Loans in Process of Foreclosure, Amount	$ 12

To Be Announced RMBS (Details)

To Be Announced RMBS (Details) - USD ($) $ in Thousands	Jun. 30, 2015		Dec. 31, 2014
To Be Announced Securities [Line Items]
Fair Value	$ 1,870,251		$ 2,172,082
Receivable for securities sold	1,197,613		1,237,592
Financial Instruments Sold, Not yet Purchased, at Fair Value	(1,183,384)		(1,291,370)
Payable for securities purchased	(63,200)		(98,747)
To Be Announced Fixed Rate Agency Securities [Member]
To Be Announced Securities [Line Items]
Fair Value	24,933	[1],[2],[3]	72,410	[4],[5],[6],[7]
Investment Owned, Balance, Principal Amount	25,090		71,598
Receivable for securities sold	1,122,026		1,205,779
TBA - Fixed Rate Agency Securities Sold Short [Member]
To Be Announced Securities [Line Items]
Financial Instruments Sold, Not yet Purchased, at Fair Value	(1,119,975)	[2],[8]	(1,209,539)	[5],[6],[9]
Investment Sold, Not yet Purchased, Balance, Principal Amount	(1,063,670)		(1,135,218)
Payable for securities purchased	(24,964)		(71,832)
Investment Owned At Fair Value, Net	$ (1,095,042)		$ (1,137,129)

[1]	At June 30, 2015, the Company's long investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 84.71%, 52.58%, and 10.62% of equity, respectively.
[2]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[3]	The table below shows the ratings on the Company's long investments from Moody's, Standard and Poor's, or Fitch, as well as the Company's long investments that were unrated but guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association. Ratings tend to be a lagging credit indicator; as a result, the credit quality of the Company's long investment holdings may be lower than the credit quality implied based on the ratings listed below. In situations where an investment has a split rating, the lowest provided rating is used. The ratings descriptions include ratings qualified with a "+," "-," "1," "2," or "3."Rating Description Percent ofEquityUnrated but Agency-Guaranteed 147.91%A/A/A 0.35%Baa/BBB/BBB 2.23%Ba/BB/BB or below 53.46%Unrated 36.72%
[4]	At December 31, 2014, the Company's long investments guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association, represented 100.30%, 53.97%, and 9.33% of equity, respectively.
[5]	Conformed to current period presentation.
[6]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[7]	The table below shows the Company's long investment ratings from Moody's, Standard and Poor's, or Fitch, as well as the Company's long investments that were unrated but guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Government National Mortgage Association. Ratings tend to be a lagging credit indicator; as a result, the credit quality of the Company's long investment holdings may be lower than the credit quality implied based on the ratings listed below. In situations where an investment has a split rating, the lowest provided rating is used. The ratings descriptions include ratings qualified with a "+," "-," "1," "2," or "3."Rating Description Percent of EquityUnrated but Agency-Guaranteed 163.60%A/A/A 0.98%Baa/BBB/BBB 5.62%Ba/BB/BB or below 80.65%Unrated 24.61%
[8]	At June 30, 2015, the Company's short investments guaranteed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation represented 114.63% and 28.88% of equity, respectively.
[9]	At December 31, 2014, the Company's short investments guaranteed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, represented 121.95% and 31.44% of equity, respectively.

Financial Derivatives (Schedule

Financial Derivatives (Schedule Of Gains And Losses On Derivative Contracts) (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Derivative [Line Items]
Net Realized Gain/Loss on Financial Derivatives		$ (14,013)	[1]	$ (817)		$ (14,051)	[1]	$ 402
Unrealized Gain (Loss) on Financial Derivatives				(5,771)				(8,211)
Foreign currency translation		1,959		482	[2]	(3,104)		417	[2]
Unrealized Gain (Loss) on Derivatives, including Foreign Currency Translation Gain (Loss)	[3]	13,549				8,400
Reimbursement from third party		1,500				1,500
Financial Derivatives - Assets [Member]
Derivative [Line Items]
Net Realized Gain/Loss on Financial Derivatives		13,594		1,976		38,900		10,018
Unrealized Gain (Loss) on Financial Derivatives		$ (7,315)	[3]	$ 2,315		$ (14,471)	[3]	$ (2,246)
Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (1,563)		$ (467)		$ (1,162)		$ 724
Unrealized Gain (Loss) on Financial Derivatives		$ 1,056	[3]	$ 586		$ 701	[3]	$ (625)
Financial Derivatives - Assets [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (616)		$ (814)		$ (390)		$ (2,116)
Unrealized Gain (Loss) on Financial Derivatives		$ 588	[3]	$ (106)		$ (664)	[3]	$ 39
Financial Derivatives - Assets [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ 1,736		$ 1,460		$ (1,277)		$ 2,112
Unrealized Gain (Loss) on Financial Derivatives		$ (2,273)	[3]	$ (460)		$ (1,445)	[3]	$ (775)
Financial Derivatives - Assets [Member] \| Total Return Swaps [Member]
Derivative [Line Items]
Primary risk exposure		Equity Market/Credit		Equity Market		Equity Market/Credit		Equity Market
Net Realized Gain/Loss on Financial Derivatives		$ 2,256		$ 1,842		$ 4,066		$ 7,767
Unrealized Gain (Loss) on Financial Derivatives		$ 130	[3]	$ 10		$ 240	[3]	$ 20
Financial Derivatives - Assets [Member] \| Interest Rate Swaps [Member]
Derivative [Line Items]
Primary risk exposure		Interest Rates		Interest Rates		Interest Rates		Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ 7,521		$ (1,520)		$ 26,980		$ (48)
Unrealized Gain (Loss) on Financial Derivatives		$ (7,955)	[3]	$ 1,949		$ (14,943)	[3]	$ (4,131)
Financial Derivatives - Assets [Member] \| Futures [Member]
Derivative [Line Items]
Primary risk exposure		Interest Rates/Equity Market		Interest Rates		Interest Rates/Equity Market		Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ 853		$ 926		$ 3,251		$ 966
Unrealized Gain (Loss) on Financial Derivatives		$ (781)	[3]	$ 138		$ 43	[3]	$ 2,573
Financial Derivatives - Assets [Member] \| Forwards [Member]
Derivative [Line Items]
Primary risk exposure		Currency		Currency		Currency		Currency
Net Realized Gain/Loss on Financial Derivatives		$ 235		$ 494		$ 7,520		$ 505
Unrealized Gain (Loss) on Financial Derivatives		$ 1,191	[3]	$ (115)		$ 308	[3]	$ 52
Financial Derivatives - Assets [Member] \| Other Derivatives [Member]
Derivative [Line Items]
Primary risk exposure		Credit/ Interest Rates		Credit/ Interest Rates		Credit/ Interest Rates		Credit/ Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ 3,172		$ 55		$ (88)		$ 108
Unrealized Gain (Loss) on Financial Derivatives		729	[3]	313		1,289	[3]	601
Financial Derivatives - Liabilities [Member]
Derivative [Line Items]
Net Realized Gain/Loss on Financial Derivatives		(27,607)	[1]	(2,793)		(52,951)	[1]	(9,616)
Unrealized Gain (Loss) on Financial Derivatives		$ 20,864	[3]	$ (8,086)		$ 22,871	[3]	$ (5,965)
Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Securities [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (23)		$ (20)		$ (42)		$ (39)
Unrealized Gain (Loss) on Financial Derivatives		$ (41)	[3]	$ 0		$ (41)	[3]	$ 0
Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Asset Backed Indices [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (28)		$ (161)		$ 117		$ 2,442
Unrealized Gain (Loss) on Financial Derivatives		$ 2	[3]	$ 361		$ 208	[3]	$ (1,125)
Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bond Indices [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (2,607)		$ (1,956)		$ (483)		$ (5,760)
Unrealized Gain (Loss) on Financial Derivatives		$ 4,773	[3]	$ (656)		$ 2,116	[3]	$ 3,915
Financial Derivatives - Liabilities [Member] \| Credit Default Swaps On Corporate Bonds [Member]
Derivative [Line Items]
Primary risk exposure		Credit		Credit		Credit		Credit
Net Realized Gain/Loss on Financial Derivatives		$ (271)		$ 140		$ (939)		$ 140
Unrealized Gain (Loss) on Financial Derivatives		$ 292	[3]	$ (225)		$ 777	[3]	$ (225)
Financial Derivatives - Liabilities [Member] \| Total Return Swaps [Member]
Derivative [Line Items]
Primary risk exposure		Equity Market/Credit		Equity Market		Equity Market/Credit		Equity Market
Net Realized Gain/Loss on Financial Derivatives		$ (6,173)		$ 442		$ (6,631)		$ (975)
Unrealized Gain (Loss) on Financial Derivatives		$ (1,594)	[3]	$ (12)		$ (1,897)	[3]	$ 24
Financial Derivatives - Liabilities [Member] \| Interest Rate Swaps [Member]
Derivative [Line Items]
Primary risk exposure		Interest Rates		Interest Rates		Interest Rates		Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ (10,731)	[1]	$ (92)		$ (35,928)	[1]	$ (3,856)
Unrealized Gain (Loss) on Financial Derivatives		$ 16,419	[3]	$ (7,244)		$ 20,740	[3]	$ (7,713)
Financial Derivatives - Liabilities [Member] \| Futures [Member]
Derivative [Line Items]
Primary risk exposure		Interest Rates/Equity Market		Interest Rates		Interest Rates/Equity Market		Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ (752)		$ (153)		$ (784)		$ (26)
Unrealized Gain (Loss) on Financial Derivatives		$ (209)	[3]	$ (197)		$ (620)	[3]	$ (335)
Financial Derivatives - Liabilities [Member] \| Forwards [Member]
Derivative [Line Items]
Primary risk exposure		Currency		Currency		Currency		Currency
Net Realized Gain/Loss on Financial Derivatives		$ (4,555)		$ (437)		$ (6,044)		$ (929)
Unrealized Gain (Loss) on Financial Derivatives		$ 513	[3]	$ (272)		$ (69)	[3]	$ (276)
Financial Derivatives - Liabilities [Member] \| Other Derivatives [Member]
Derivative [Line Items]
Primary risk exposure		Credit/ Interest Rates		Credit/ Interest Rates		Credit/ Interest Rates		Credit/ Interest Rates
Net Realized Gain/Loss on Financial Derivatives		$ (2,467)		$ (556)		$ (2,217)		$ (613)
Unrealized Gain (Loss) on Financial Derivatives		709	[3]	$ 159		1,657	[3]	$ (230)
Derivative [Member]
Derivative [Line Items]
Foreign currency translation		$ 900				$ 100

[1]	Includes a $1.5 million reimbursement from a third party.
[2]	Conformed to current period presentation.
[3]	Includes foreign currency translation on derivatives in the amount of $0.9 million and $0.1 million, for the three and six month periods ended June 30, 2015, respectively, which is included on the Consolidated Statement of Operations in Change in net unrealized gain (loss) on foreign currency translation.

Financial Derivatives Financial

Financial Derivatives Financial Derivatives (Schedule of Derivative Activity) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Interest Rate Swaps [Member]
Derivative [Line Items]
Average Monthly Notional Amount	$ 2,716,471	$ 2,227,315
Credit Default Swap [Member]
Derivative [Line Items]
Average Monthly Notional Amount	785,522	552,411
Total Return Swaps [Member]
Derivative [Line Items]
Average Monthly Notional Amount	201,734	55,108
Futures [Member]
Derivative [Line Items]
Average Monthly Notional Amount	1,046,384	738,830
Option contract [Member]
Derivative [Line Items]
Average Monthly Notional Amount	693,320	926,369
Forwards [Member]
Derivative [Line Items]
Average Monthly Notional Amount	77,054	42,143
Warrant [Member]
Derivative [Line Items]
Average Monthly Notional Amount	1,554	120
Loan Purchase Commitments [Member]
Derivative [Line Items]
Average Monthly Notional Amount	$ 240	$ 0

Financial Derivatives (Schedu48

Financial Derivatives (Schedule Of Credit Derivatives) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Credit Default Swap, Selling Protection [Member]
Credit Derivatives [Line Items]
Fair Value of Written Credit Derivatives, Net		$ 55,097	$ 27,741
Notional value	[1]	(493,986)	(341,014)
Credit Default Swap, Buying Protection [Member]
Credit Derivatives [Line Items]
Fair Value of Written Credit Derivatives, Net	[2]	(2,914)	(3,287)
Notional value	[2]	$ 40,728	$ 54,874

[1]	The notional value is the maximum amount that a seller of credit protection would be obligated to pay, and a buyer of credit protection would receive upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under credit derivative contracts with an International Swaps and Derivatives Association, or "ISDA," counterparty may be offset against amounts due or owed on other credit derivative contracts with the same ISDA counterparty. As a result, the notional amount of written credit derivatives involving a particular underlying reference asset or index has been reduced (but not below zero) by the notional amount of any contracts where the Company has purchased credit protection on the same reference asset or index with the same ISDA counterparty.
[2]	Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation.

Financial Derivatives (Narrativ

Financial Derivatives (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Low Range Of Spread On Written Credit Derivatives	0.15%	0.15%
High Range Of Spread On Written Credit Derivatives	5.00%	5.00%
Credit Default Swap, Selling Protection [Member]
Derivative [Line Items]
Total net up-front payments received	$ 56.9	$ 28.9

Schedule of Reverse Repurchase

Schedule of Reverse Repurchase Agreements by Maturity (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements	[1]	$ 1,360,408	$ 1,669,433
Debt, Weighted Average Interest Rate		0.76%	0.65%
Remaining Days to Maturity, Reverse Repurchase Agreements		132 days	105 days
Maturity up to 30 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 163,608	$ 715,194
Debt, Weighted Average Interest Rate		0.70%	0.22%
Remaining Days to Maturity, Reverse Repurchase Agreements		16 days	14 days
Maturity 31 to 60 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 140,488	$ 322,874
Debt, Weighted Average Interest Rate		0.65%	0.52%
Remaining Days to Maturity, Reverse Repurchase Agreements		47 days	44 days
Maturity 61 to 90 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 260,762	$ 289,276
Debt, Weighted Average Interest Rate		0.57%	0.52%
Remaining Days to Maturity, Reverse Repurchase Agreements		76 days	71 days
Maturity 91 to 120 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 206,113	$ 0
Debt, Weighted Average Interest Rate		0.47%	0.00%
Remaining Days to Maturity, Reverse Repurchase Agreements		107 days
Maturity 121 to 150 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 145,900	$ 21,236
Debt, Weighted Average Interest Rate		0.49%	2.03%
Remaining Days to Maturity, Reverse Repurchase Agreements		136 days	139 days
Maturity 151 to 180 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 312,866	$ 123,484
Debt, Weighted Average Interest Rate		0.59%	1.25%
Remaining Days to Maturity, Reverse Repurchase Agreements		164 days	162 days
Maturity 181 to 360 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 21,143	$ 47,768
Debt, Weighted Average Interest Rate		2.54%	0.85%
Remaining Days to Maturity, Reverse Repurchase Agreements		347 days	274 days
Maturity greater than 360 days [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 109,528	$ 149,601
Debt, Weighted Average Interest Rate		2.44%	2.41%
Remaining Days to Maturity, Reverse Repurchase Agreements		450 days	631 days

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.

Borrowings under Repurchase Agr

Borrowings under Repurchase Agreements (Details) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015USD ($)counterparties	Dec. 31, 2014USD ($)counterparties
Reverse Repurchase Agreements [Line Items]
Non Mark-to-Market Reverse Repurchase Agreement Facility		$ 150,000
Cancellation Notice Period Under Non-Mark-to-Market Financing Facility		6 months
Number of Counterparties with Outstanding Reverse Repurchase Agreements \| counterparties		17	16
Concentration Risk, Reverse Repurchase Agreements		30.00%	23.00%
Number Counterparties With Concentration Risk, Reverse Repurchase Agreements \| counterparties		1	1
Forward Starting Reverse Repurchase Agreements		$ 23,500	$ 50,100
Reverse repurchase agreements	[1]	1,360,408	1,669,433
Investments held with dealers as collateral		1,560,000	1,930,000
Pledged Financial Instruments, Not Separately Reported, Securities For Repurchase Agreements Unsettled		$ 34,700	$ 145,500
Minimum [Member]
Reverse Repurchase Agreements [Line Items]
Reverse Repurchase Agreements Maturity		30 days
Reverse Repurchase Agreements Remaining Terms		6 days	2 days
Reverse Repurchase Agreements Interest Rate		0.00%	(1.50%)
Maximum [Member]
Reverse Repurchase Agreements [Line Items]
Reverse Repurchase Agreements Maturity		180 days
Reverse Repurchase Agreements Remaining Terms		450 days	631 days
Reverse Repurchase Agreements Interest Rate		2.54%	2.42%
Agency residential mortgage-backed securities [Member]
Reverse Repurchase Agreements [Line Items]
Reverse repurchase agreements		$ 1,091,000	$ 1,146,000
Reverse Repurchase Agreements [Member]
Reverse Repurchase Agreements [Line Items]
Cash Collateral (Received) Pledged	[2],[3]	38,393	14,245
Security Owned and Pledged as Collateral, Fair Value		$ 17,000	$ 12,500

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of June 30, 2015 and December 31, 2014 were $1.58 billion and $1.94 billion, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $30.5 million and $22.7 million, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $28.7 million and $23.2 million, respectively.
[3]	When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Base Management Fee And Incen52

Base Management Fee And Incentive Fee (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	[1]
Base Management Fee And Incentive Fee [Abstract]
Annual base management fee percentage			1.50%
Management fee description			The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges.
Management Fee Expense	$ 2,920	$ 2,368	$ 5,872	$ 4,733
Incentive fee rate			25.00%
Incentive fees arrangement			The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of June 30, 2015 there was no Loss Carryforward. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP Units issued in such issuance and the number of days that such issued shares and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting (i.e. attributing any share and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP Units at the beginning of such fiscal quarter by (II) the average number of common shares and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of the average number of common shares, LTIP Units, and OP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares and OP Units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares.
Incentive fee hurdle rate fixed			9.00%
Incentive fee hurdle rate floating			3.00%
Minimum percentage of incentive fee to be paid in share			10.00%

[1]	Conformed to current period presentation.

Long-Term Incentive Plan Unit53

Long-Term Incentive Plan Units (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	[1]	Jun. 30, 2015	Jun. 30, 2014	[1]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 98	$ 64		$ 196	$ 127

[1]	Conformed to current period presentation.

Long-Term Incentive Plan Unit54

Long-Term Incentive Plan Units (Roll-Forward Of Company's LTIP Units Outstanding) (Details) - Long-Term Incentive Plan Units [Member] - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding	429,314	411,052	429,314	411,052
Granted	0	0	0	0
Exercised	0	0	0	0
LTIP Units Outstanding	429,314	411,052	429,314	411,052
LTIP Units Vested and Outstanding	404,859	395,314	404,859	395,314
Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding	375,000	375,000	375,000	375,000
Granted	0	0	0	0
Exercised	0	0	0	0
LTIP Units Outstanding	375,000	375,000	375,000	375,000
LTIP Units Vested and Outstanding	375,000	375,000	375,000	375,000
Non-Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
LTIP Units Outstanding	54,314	36,052	54,314	36,052
Granted	0	0	0	0
Exercised	0	0	0	0
LTIP Units Outstanding	54,314	36,052	54,314	36,052
LTIP Units Vested and Outstanding	29,859	20,314	29,859	20,314

Non-controlling Interests (Deta

Non-controlling Interests (Details) - USD ($) $ in Thousands	Jan. 02, 2013	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest		$ 6,363	$ 6,389
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Stockholders' Equity Attributable to Noncontrolling Interest		$ 6,363	$ 6,389	$ 7,016	$ 5,648
Non-controlling interest in Operating Partnership [Member] \| Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Operating Partnership Units Issued	212,000
Operating Partnership Units		212,000
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		0.60%
Non-controlling interest of joint venture partner [Member] \| Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		5.00%
Stockholders' Equity Attributable to Noncontrolling Interest		$ 1,500

Common Share Capitalization (Na

Common Share Capitalization (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Common Stock Capitalization [Line Items]
Dividends (in usd per share)	$ 0.65	$ 0.77	$ 1.30	$ 1.54
Payments of Dividends	$ 22,200	$ 20,100	$ 44,318	$ 40,140
Common Shares Issued And Outstanding Upon Conversion of All Convertible Securities	34,090,992	26,064,802	34,090,992	26,064,802

Common Share Capitalization (Su

Common Share Capitalization (Summary Of Common Shares Outstanding) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Shares Outstanding, period begin	33,449,678	25,441,750	33,449,678	25,428,186
Shares issued in connection with incentive fee payment	0	0	0	13,564
Common Shares Outstanding, period end	33,449,678	25,441,750	33,449,678	25,441,750

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Net increase (decrease) in shareholders' equity resulting from operations
Net Income (Loss) Attributable to Parent		$ 13,152	$ 20,947	[1]	$ 32,413		$ 43,582	[1]
Net Income (Loss) Attributable to Participating Non-controlling Interest	[2]	82	172		202		357
Net income (loss) attributable to parent and participating non-controlling interest		13,234	21,119		32,615		43,939
Net increase in shareholders' equity resulting from operations– common shares		12,985	20,614		32,002		42,889
Net increase in shareholders' equity resulting from operations– LTIP units		167	333		411		693
Dividends Paid(2):
Common shareholders	[3]	(21,742)	(19,590)		(43,486)		(39,180)
LTIP unit holders	[3]	(279)	(317)		(558)		(633)
Non-controlling Interest	[3]	(138)	(163)		(274)		(327)
Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest	[3]	(22,159)	(20,070)		(44,318)	[4]	(40,140)	[4]
Undistributed (Distributed in excess of) earnings:
Common shareholders		(8,757)	1,024		(11,484)		3,709
LTIP unit holders		(112)	16		(147)		60
Non-controlling interest		(56)	9		(72)		30
Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest		$ (8,925)	$ 1,049		$ (11,703)		$ 3,799
Weighted average shares outstanding (basic and diluted):
Weighted average common shares outstanding		33,449,678	25,441,750		33,449,678		25,438,677
Weighted average participating LTIP units		429,314	411,052		429,314		411,052
Weighted average non-controlling interest units		212,000	212,000		212,000		212,000
Basic earnings per common share:
Distributed (in usd per share)		$ 0.65	$ 0.77		$ 1.30		$ 1.54
Undistributed (Distributed in excess of) (in usd per share)		(0.26)	0.04		(0.34)		0.15
Basic earnings per common share (in usd per share)		0.39	0.81		0.96		1.69
Diluted earnings per common share:
Distributed (in usd per share)		0.65	0.77		1.30		1.54
Undistributed (Distributed in excess of) (in usd per share)		(0.26)	0.04		(0.34)		0.15
Diluted earnings per common share (in usd per share)		$ 0.39	$ 0.81		$ 0.96		$ 1.69
Net Income (Loss) Attributable to Non-Participating Non-controlling Interest		$ (11)	$ 85		$ 25		$ 103

[1]	Conformed to current period presentation.
[2]	For the three month periods ended June 30, 2015 and 2014, excludes net increase (decrease) in equity resulting from operations of $(11) thousand and $85 thousand, respectively attributable to joint venture partners, which have non-participating interests as described in Note 9. For the six month periods ended June 30, 2015 and 2014, excludes net increase in equity resulting from operations of $25 thousand and $103 thousand, respectively attributable to joint venture partners, which have non-participating interests as described in Note 9.
[3]	The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.
[4]	For the six month periods ended June 30, 2015 and 2014, dividends totaling $1.30 and $1.54, respectively, per common share and convertible unit outstanding, were declared and paid.

Counterparty Risk (Narrative) (

Counterparty Risk (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Risks and Uncertainties [Abstract]
Collateral Pledged on Reverse Repurchase Agreements Segregated under Securities Exchange Commission Regulation	$ 1,580,000
Pledged Financial Instruments, Not Separately Reported, Securities For Repurchase Agreements Unsettled	34,700	$ 145,500
Unencumbered investments held in custody	101,600
Cash and Cash Equivalents, at Carrying Value	$ 123,856	$ 114,140	$ 145,032	$ 183,489
Concentration risk threshold	15.00%

Counterparty Risk (% Of Total C

Counterparty Risk (% Of Total Collateral On Reverse Repurchase Agreements) (Details)	Jun. 30, 2015
Royal Bank of Canada [Member]
Concentration Risk [Line Items]
% of Total Collateral on Reverse Repurchase Agreements	28.00%

Counterparty Risk (% Of Due fro

Counterparty Risk (% Of Due from Brokers) (Details)	Jun. 30, 2015
Wells Fargo Bank N.A. [Member]
Concentration Risk [Line Items]
% of Total Due from Brokers	26.00%
Morgan Stanley [Member]
Concentration Risk [Line Items]
% of Total Due from Brokers	24.00%
JP Morgan Securities Inc [Member]
Concentration Risk [Line Items]
% of Total Due from Brokers	18.00%

Counterparty Risk (% Of Total R

Counterparty Risk (% Of Total Receivable For Securities Sold) (Details)	Jun. 30, 2015
CS First Boston [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	24.00%
Morgan Stanley [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	23.00%
Citigroup [Member]
Concentration Risk [Line Items]
% of Total Receivable for Securities Sold	18.00%

Counterparty Risk (Cash and Cas

Counterparty Risk (Cash and Cash Equivalents) (Details)	Jun. 30, 2015	Dec. 31, 2014
BlackRock Liquidity Temp Fund [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents	40.00%	88.00%
Bank of New York Mellon Corporation [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents	59.00%	11.00%
US Bank [Member]
Concentration Risk [Line Items]
Concentration risk percentage, cash and cash equivalents	1.00%	1.00%

Offsetting of Assets and Liab64

Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2015		Dec. 31, 2014
Offsetting of Assets and Liabilities [Line Items]
Financial derivatives–assets, at fair value-	[1]	$ 91,665		$ 80,029
Fair value repurchase agreements	[1]	53,788		172,001
Financial derivatives–liabilities, at fair value-	[1]	(45,565)		(66,116)
Reverse Repurchase Agreements	[1]	(1,360,408)		(1,669,433)
Derivative Liability Instruments available for offset		(35,719)		(40,671)
Reverse Repurchase Agreements Available for Offset		(53,788)		(172,001)
Derivative Asset Instruments available for offset		35,719		26,758
Repurchase Agreements Available for Offset		53,788		172,001
Repurchase Agreements and Related Collateral Net		0		0
Reverse Repurchase Agreements and Related Collateral Net		0		0
Securities Collateral realting to Repurchase and Reverse Repurchase Agreements		1,580,000		1,940,000
Financial Derivatives - Assets [Member]
Offsetting of Assets and Liabilities [Line Items]
Financial derivatives–assets, at fair value-		91,665	[2]	80,029	[3],[4]
Financial Instruments Pledged as Collateral	[5],[6]	0		0
Cash collateral received	[5],[6]	(29,777)		(5,578)
Derivatives and Related Collateral Net		26,169		33,780
Excess cash collateral		30,500		22,700
Securities Purchased under Agreements to Resell [Member]
Offsetting of Assets and Liabilities [Line Items]
Financial Instruments Pledged as Collateral	[5],[6]	0		0
Cash collateral received	[5],[6]	0		0
Reverse Repurchase Agreements [Member]
Offsetting of Assets and Liabilities [Line Items]
Financial Instruments Pledged as Collateral	[5],[6]	1,268,227		1,483,187
Cash collateral pledged	[5],[6]	38,393		14,245
Financial Derivatives - Liabilities [Member]
Offsetting of Assets and Liabilities [Line Items]
Financial derivatives–liabilities, at fair value-		(45,565)	[2]	(66,116)	[3],[4]
Financial Instruments Pledged as Collateral	[5],[6]	0		0
Cash collateral pledged	[5],[6]	9,788		17,393
Derivatives and Related Collateral Net		(58)		(21,965)
Excess cash collateral		$ 28,700		$ 23,200

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[3]	Conformed to current period presentation.
[4]	See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[5]	For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of June 30, 2015 and December 31, 2014 were $1.58 billion and $1.94 billion, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $30.5 million and $22.7 million, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $28.7 million and $23.2 million, respectively.
[6]	When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.

Contingencies And Commitments C

Contingencies And Commitments Contingencies and Commitments (Details) $ in Thousands		6 Months Ended
		Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Other Commitments [Line Items]
Derivative Liability	[1]	$ 45,565	$ 66,116
Purchase commitment		100,000
Purchases made in connection with purchase commitments		1,400
Consumer Loan [Member]
Other Commitments [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed		$ 32,300
Debt and equity investments in mortgage originators [Member]
Other Commitments [Line Items]
Number of Investments		3
Corporate Debt [Member]
Other Commitments [Line Items]
Commitments - Debt or Equity Investment		$ 4,000
Corporate Debt [Member] \| Due on or before December 31, 2015 [Member]
Other Commitments [Line Items]
Commitments - Debt or Equity Investment		2,000
Corporate Debt [Member] \| Due on or before June 12, 2016 [Member]
Other Commitments [Line Items]
Commitments - Debt or Equity Investment		2,000
Non-Exchange Traded Equity Investment in Mortgage Originator
Other Commitments [Line Items]
Purchase commitment		200,000
Guaranty Liabilities		2,500
Loan Purchase Commitments [Member] \| Corporate Debt [Member]
Other Commitments [Line Items]
Derivative Liability		800
Loan Purchase Commitments [Member] \| Non-Exchange Traded Equity Investment in Mortgage Originator
Other Commitments [Line Items]
Derivative Liability		$ 900

[1]	In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.

Financial Highlights (Narrative

Financial Highlights (Narrative) (Details)	3 Months Ended		6 Months Ended
Financial Highlights (Narrative) (Details)	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Highlights [Abstract]
Market based total return	(3.98%)	3.98%	(1.14%)	12.76%

Financial Highlights (Results O

Financial Highlights (Results Of Operations For A Share Outstanding) (Details) - $ / shares		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Increase (Decrease) Equity Per Share [Roll Forward]
Beginning Shareholders' Equity Per Share (3/31/2015, 3/31/2014, 12/31/2014, and 12/31/2013, respectively)		$ 23.30	$ 24.49	$ 23.38	$ 24.40
Net Investment Income		0.53	0.51	1.05	1.06
Net Realized/Unrealized Gains (Losses)		(0.13)	0.33	(0.07)	0.67
Results of Operations Attributable to Equity		0.40	0.84	0.98	1.73
Less: Results of Operations Attributable to Non-controlling Interests		0	(0.01)	(0.01)	(0.02)
Results of Operations Attributable to Shareholders' Equity	[1]	0.40	0.83	0.97	1.71
Dividends Paid Per Common Share		(0.65)	(0.77)	(1.30)	(1.54)
Weighted Average Share Impact on Dividends Paid (2)	[2]	(0.01)	(0.02)	(0.01)	(0.04)
Ending Shareholders' Equity Per Share (6/30/2015, 6/30/2014, 6/30/2015, and 6/30/2014, respectively)(3)	[3]	$ 23.04	$ 24.53	$ 23.04	$ 24.53
Shares Outstanding, end of period		33,449,678	25,441,750	33,449,678	25,441,750	33,449,678	33,449,678	25,441,750	25,428,186
Shareholders Equity Per Share Upon Conversion Of All Convertible Units (in usd per share)		$ 22.75	$ 24.14	$ 22.75	$ 24.14

[1]	Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 11).
[2]	Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders.
[3]	If all LTIP units and OP Units previously issued were vested and exchanged for common shares as of June 30, 2015 and 2014, shareholders' equity per share would be $22.75 and $24.14, respectively.

Financial Highlights (Net Asset

Financial Highlights (Net Asset Value Based Total Return For A Shareholder) (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Highlights [Abstract]
Total Return	[1]	1.67%	3.36%	4.18%	7.03%

[1]	Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period.

Financial Highlights (Net Inves

Financial Highlights (Net Investment Income Ratio To Average Equity) (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Highlights [Abstract]
Net Investment Income	[1],[2]	8.99%	8.27%	9.00%	8.67%

[1]	Average equity is calculated using month end values.
[2]	Includes all items of income and expense on an annualized basis.

Financial Highlights (Expense R

Financial Highlights (Expense Ratios To Average Equity) (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Highlights [Abstract]
Operating expenses, before interest expense and other investment related expenses	[1],[2]	(2.54%)	(2.76%)	(2.60%)	(2.78%)
Interest expense and other investment related expenses	[1],[2]	(2.04%)	(2.32%)	(2.10%)	(2.15%)
Total Expenses	[1],[2]	(4.58%)	(5.08%)	(4.70%)	(4.93%)

[1]	Average equity is calculated using month end values.
[2]	Includes all items of income and expense on an annualized basis.

Subsequent Events (Details)

Subsequent Events (Details) - Aug. 03, 2015 - Subsequent Event [Member] - $ / shares shares in Millions	Total
Subsequent Event [Line Items]
Dividend Per Share	$ 0.65
Declared date	Aug. 3, 2015
Payment Date	Sep. 15, 2015
Record Date	Sep. 1, 2015
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1.7