MTGE Investment (MTGE) 10-K 27 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 01, 2018	Jun. 30, 2017
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	MTGE Investment Corp.
Entity Central Index Key	1,516,973
Entity Filer Category	Large Accelerated Filer
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		45,797,687
Trading Symbol	MTGE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 664,978,413

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets:
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
Non-agency securities, at fair value (including pledged securities of $743,278 and $1,019,834, respectively)	872,084	1,134,469
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)	0	20,209
Land	16,641	5,646
Property, Plant and Equipment, Net	240,352	81,780
Buildings and Improvements, Gross	233,407	78,639
Cash and cash equivalents	123,762	123,640
Restricted cash	46,324	13,005
Interest receivable	14,608	9,767
Derivative assets, at fair value	14,712	29,048
Receivable under reverse repurchase agreements	843,130	487,469
Mortgage servicing rights	0	49,776
Other assets	23,242	39,178
Total assets	5,953,036	4,797,155
Liabilities:
Secured Debt, Repurchase Agreements	3,863,719	2,970,816
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances	0	273,700
Notes and Loans Payable	186,500	66,527
Payable for Agency and Non-Agency Securities Purchased	4,357	0
Derivative liabilities, at fair value	4,454	27,820
Dividend payable	24,016	19,436
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements, at Fair Value	830,776	474,935
Accounts payable and other accrued liabilities	33,592	30,876
Total liabilities	4,947,414	3,864,110
Stockholders' equity:
8.125% Series A Cumulative Redeemable Preferred Stock; 2,200 shares issued and outstanding (aggregate liquidation preference of $55,000)	53,039	53,039
Common stock, $0.01 par value; 300,000 shares authorized, 45,798 shares issued and outstanding	458	458
Additional paid-in capital	1,122,729	1,122,493
Retained earnings	(171,119)	(243,260)
Total stockholders' equity	1,005,107	932,730
Noncontrolling Interest in Joint Ventures	515	315
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,005,622	933,045
Total liabilities and stockholders' equity	$ 5,953,036	$ 4,797,155

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Preferred Stock, Par or Stated Value Per Share	$ 22	$ 22
Preferred Stock, Shares Authorized	50,000	50,000
Preferred Stock, Shares Issued	2,200	2,200
Preferred Stock, Shares Outstanding	2,200	2,200
Common Stock, Value, Issued	$ 458	$ 458
Common Stock, Shares Authorized	300,000	300,000
Common Stock, Shares, Issued	45,798	45,798
Common Stock, Shares, Outstanding	45,798	45,798
Agency Securities [Member]
Security Owned and Pledged as Collateral, Fair Value	$ 3,581,868	$ 2,713,274
Agency Securities [Member] | Repurchase Agreements [Member]
Security Owned and Pledged as Collateral, Fair Value		2,425,300
Non-Agency Securities [Member]
Security Owned and Pledged as Collateral, Fair Value	743,278	1,019,834
Non-Agency Securities [Member] | Repurchase Agreements [Member]
Security Owned and Pledged as Collateral, Fair Value	700,000	1,000,000
US Government Debt Securities [Member]
Security Owned and Pledged as Collateral, Fair Value	$ 0	$ 20,209

Consolidated Statement Of Opera

Consolidated Statement Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest income:
Agency securities	$ 88,223	$ 77,798	$ 99,042
Non-agency securities	54,400	69,391	74,789
Investment Income, Interest	1,025	581	287
Interest expense	(52,526)	(39,582)	(30,800)
Net interest income	91,122	108,188	143,318
Servicing:
Other operating income	2,789	21,308	48,638
Other noninterest expense	(8,126)	(38,998)	(66,005)
Net servicing loss	(5,337)	(17,690)	(17,367)
Healthcare:
Healthcare real estate income	24,431	6,059	0
Healthcare real estate expense	(18,569)	(5,400)	0
Net healthcare loss	5,862	659	0
Other gains (losses):
Realized gain on agency securities, net	(243)	3,775	(2,790)
Realized gain on non-agency securities, net	32,815	5,947	5,673
Realized loss on periodic settlements of interest rate swaps, net	(7,317)	(10,337)	(16,437)
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	32,481	(96,709)	(45,901)
Unrealized gain on agency securities, net	(1,502)	(14,710)	(28,095)
Unrealized gain on non-agency securities, net	37,350	40,547	(43,153)
Unrealized Gain (Loss) on Derivatives	(3,426)	63,389	2,056
Unrealized gain (loss) mortgage servicing rights	0	(10,746)	(415)
Impairment of Intangible Assets, Finite-lived	0	(5,000)	(10,000)
Total other gains, net	90,158	(23,844)	(139,062)
Expenses:
Asset Management Costs	13,697	14,509	17,225
General and administrative expenses	7,332	9,258	7,980
Total expenses	21,029	23,767	25,205
Income before excise tax	160,776	43,546	(38,316)
Income Tax Expense (Benefit)	550	125	(42)
Net income	161,335	43,669	(38,358)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	161,326	43,671	(38,358)
Preferred Stock Dividends, Income Statement Impact	(4,468)	(4,468)	(4,468)
Net Income (Loss) Attributable to Noncontrolling Interest	9	(2)	0
Net Income (Loss) Available to Common Stockholders, Basic	$ 156,867	$ 39,201	$ (42,826)
Earnings Per Share, Basic and Diluted	$ 3.42	$ 0.85	$ (0.85)
Weighted Average Number of Shares Outstanding, Basic	45,805	46,005	50,506
Weighted Average Number of Shares Outstanding, Diluted	45,811	46,008	50,519

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Noncontrolling Interest [Member]
Noncontrolling Interest in Joint Ventures						$ 0
Beginning Balance, Date Operations Commenced at Dec. 31, 2014	$ 1,175,969	$ 53,039	$ 512	$ 1,198,560	$ (76,142)
Preferred Stock, Shares Outstanding at Dec. 31, 2014		2,200
Balance, Common Stock, shares at Dec. 31, 2014			51,165
Net income	(38,358)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(38,358)
Proceeds from Noncontrolling Interests	0
Net Income (Loss) Attributable to Noncontrolling Interest	0					0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ 0
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures			$ 53
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	0
Stock Repurchased During Period, Shares			(3,592)
Stock Repurchased During Period, Value			$ (36)	(53,321)
Stock Repurchased and Retired During Period, Value	$ (53,357)
Stock-based compensation	1,558			1,558
Dividends, Preferred Stock, Cash	(4,468)				4,468
Common dividends declared	90,232				90,232
Balance at Dec. 31, 2015	991,112	$ 53,039	$ 476	1,146,797	(209,200)
Balance, Common Stock, shares at Dec. 31, 2015			47,626
Preferred Stock, Shares Outstanding at Dec. 31, 2015		2,200
Noncontrolling Interest in Joint Ventures						0
Net income	43,669
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	43,671
Proceeds from Noncontrolling Interests	328
Net Income (Loss) Attributable to Noncontrolling Interest	2					2
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ (15)					(15)
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures			$ 175
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	2
Stock Repurchased During Period, Shares			(2,003)
Stock Repurchased During Period, Value			$ (20)	(26,432)
Stock Repurchased and Retired During Period, Value	$ (26,452)
Stock-based compensation	2,130			2,128
Dividends, Preferred Stock, Cash	(4,468)				4,468
Common dividends declared	73,261				73,261
Balance at Dec. 31, 2016	$ 932,730
Balance, Common Stock, shares at Dec. 31, 2016	45,798
Preferred Stock, Shares Outstanding at Dec. 31, 2016	2,200
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 933,045
Noncontrolling Interest in Joint Ventures						315
Beginning Balance, Date Operations Commenced at Sep. 30, 2016		$ 53,039	$ 458	1,122,493	(243,260)
Preferred Stock, Shares Outstanding at Sep. 30, 2016		2,200
Balance, Common Stock, shares at Sep. 30, 2016			45,798
Net income	(44,181)
Net Income (Loss) Attributable to Noncontrolling Interest	3
Balance at Dec. 31, 2016	$ 932,730
Balance, Common Stock, shares at Dec. 31, 2016	45,798
Preferred Stock, Shares Outstanding at Dec. 31, 2016	2,200
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 933,045
Noncontrolling Interest in Joint Ventures	315
Net income	161,335
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	161,326
Proceeds from Noncontrolling Interests	245
Net Income (Loss) Attributable to Noncontrolling Interest	(9)					(9)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ (36)					(36)
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures			$ 0
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	0
Stock-based compensation	$ 236			236
Dividends, Preferred Stock, Cash	(4,468)				4,468
Common dividends declared	(84,726)				84,726
Balance at Dec. 31, 2017	$ 1,005,107	$ 53,039	$ 458	$ 1,122,729	$ (171,119)
Balance, Common Stock, shares at Dec. 31, 2017	45,798		45,798
Preferred Stock, Shares Outstanding at Dec. 31, 2017	2,200	2,200
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,005,622
Noncontrolling Interest in Joint Ventures	$ 515					$ 515

Consolidated Statement Of Cash

Consolidated Statement Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 161,326	$ 43,671	$ (38,358)
Adjustments to reconcile net income to net cash used in operating activities:
Investment Income, Amortization of Premium	25,778	25,360	27,903
Accretion (Amortization) of Discounts and Premiums, Investments	(20,471)	(27,563)	(35,643)
Depreciation	7,251	1,295	0
Amortization of Mortgage Servicing Rights (MSRs)	1,089	10,335	10,033
Unrealized loss (gain) on securities and derivatives, net	(32,422)	(78,480)	69,607
Gain (Loss) on Sale of Investments	243	(3,775)	2,790
Realized gain on non-agency securities, net	(32,815)	(5,947)	(5,673)
Realized loss (gain) on derivatives and securities, net	(25,164)	107,791	62,429
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	5,000	10,000
Stock-based compensation	236	2,130	1,558
Increase in interest receivable	(4,841)	1,862	3,620
Increase in other assets	8,925	10,339	8,278
Increase in accounts payable and other accrued liabilities	7,881	(4,672)	1,045
Net cash from (used in) operating activities	97,016	87,346	117,589
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Purchases of agency securities	(2,437,788)	(1,441,596)	(1,694,529)
Purchases of non-agency securities	(373,702)	(429,534)	(1,069,186)
Payments to Acquire Real Estate	(99,895)	(94,561)	0
Proceeds from sale of agency securities	1,047,133	1,374,242	2,245,959
Proceeds from sale of non-agency securities	577,678	725,311	440,075
Proceeds from Sale of Mortgage Servicing Rights (MSR)	44,209	0	0
Principal collections on agency securities	412,476	445,143	506,914
Proceeds From Principal Collection Of Non Agency Mortgag eBacked Securities	149,045	204,047	235,872
Proceeds from (Payments for) Securities Purchased under Agreements to Resell	(355,661)	(205,851)	(67,219)
Purchase Of US Treasury Securities	(1,434,260)	(1,313,702)	(5,470,830)
Proceeds from sale of U.S. Treasury securities	1,796,101	1,506,212	6,282,497
Payments for Derivative Instrument, Investing Activities	(3,841)	(80,762)	(53,114)
Increase (Decrease) in Restricted Cash	(34,526)	82,631	(13,492)
Payments for (Proceeds from) Other Investing Activities	25,593	(19,352)	1,357
Net cash flows from (used in) investing activities	(687,438)	752,228	1,344,304
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Payments of Dividends	(84,614)	(78,460)	(108,907)
Payments for Repurchase of Common Stock	0	(26,452)	(53,357)
Proceeds from Noncontrolling Interests	245	328	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(36)	(15)	0
Proceeds from repurchase agreements	26,601,272	27,829,137	47,270,579
Repayments of Short-term Debt	(25,969,373)	(28,676,318)	(48,604,320)
Proceeds from Issuance of Secured Debt	77,417	66,709	0
Repayments of Secured Debt	(34,367)	(182)	0
Net cash flow from (used in) financing activities	590,544	(885,253)	(1,496,005)
Net increase (decrease) in cash and cash equivalents	122	(45,679)	(34,112)
Cash and cash equivalents at beginning of period	123,640	169,319	203,431
Cash and cash equivalents at end of period	123,762	123,640	169,319
Liabilities Assumed	75,952	0	0
Interest Paid	54,960	40,691	29,968
Income Taxes Paid	$ 148	$ 731	$ 125

Organization (Notes)

Organization (Notes)	12 Months Ended
	Dec. 31, 2017
Organization [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Organization We were incorporated in Maryland and commenced operations in 2011 following the completion of our initial public offering (“IPO”). We are externally managed by MTGE Management, LLC (our “Manager”), an affiliate of AGNC Investment Corp. (“AGNC”). Our common stock is traded on the Nasdaq Global Select Market under the symbol “MTGE.” We invest in, finance and manage a leveraged portfolio of real estate-related investments, which include agency residential mortgage-backed securities (“agency RMBS”), non-agency securities, other mortgage-related investments and other real estate investments. Agency RMBS include residential mortgage pass-through certificates and collateralized mortgage obligations (“CMOs”) structured from residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a government-sponsored enterprise (“GSE”), such as Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”), or by a U.S. Government agency, such as Government National Mortgage Association (“Ginnie Mae”). Non-agency securities include securities backed by residential mortgages that are not guaranteed by a GSE or U.S. Government agency and credit risk transfer securities (“CRT”). Other mortgage-related investments may include mortgage servicing rights (“MSR”), commercial mortgage-backed securities (“CMBS”), prime and non-prime residential mortgage loans, commercial mortgage loans and mortgage-related derivatives. Other real estate investments include equity investments in healthcare and senior living facilities that are leased to or operated by third parties who conduct all business operations of the facilities. Our objective is to provide attractive risk-adjusted returns to our stockholders through a combination of dividends and net asset value appreciation. In pursuing this objective, we rely on our Manager’s expertise to construct and manage a diversified investment portfolio by selecting assets that, when properly financed and hedged, are expected to produce attractive risk-adjusted returns across a variety of market conditions and economic cycles. We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”). As such, we are required to distribute annually at least 90% of our taxable income. As a REIT, we will generally not be subject to U.S. Federal or state corporate taxes on our taxable income to the extent that we distribute all of our annual taxable income to our stockholders. It is our intention to distribute 100% of our taxable income, after application of available tax attributes, within the time limits prescribed by the Internal Revenue Code, which may extend into the subsequent taxable year.

Agency Securities

Agency Securities	12 Months Ended
	Dec. 31, 2017
Agency Securities [Abstract]
Agency Securities	Agency Securities The following tables summarize our investments in agency RMBS as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fannie Mae Freddie Mac Total Agency RMBS: Par value $ 2,485,055 $ 1,117,551 $ 3,602,606 Unamortized premium 127,008 63,466 190,474 Amortized cost 2,612,063 1,181,017 3,793,080 Gross unrealized gains 3,876 1,149 5,025 Gross unrealized losses (28,364 ) (11,560 ) (39,924 ) Agency RMBS, at fair value $ 2,587,575 $ 1,170,606 $ 3,758,181 Weighted average coupon as of December 31, 2017 3.63 % 3.75 % 3.67 % Weighted average yield as of December 31, 2017 2.78 % 2.89 % 2.82 % Weighted average yield for the year ended December 31, 2017 2.67 % 2.69 % 2.68 % December 31, 2017 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Agency RMBS: Fixed rate $ 3,717,285 $ 3,707 $ (39,924 ) $ 3,681,068 Adjustable rate 75,795 1,318 — 77,113 Total Agency RMBS $ 3,793,080 $ 5,025 $ (39,924 ) $ 3,758,181 December 31, 2016 Fannie Mae Freddie Mac Total Agency RMBS: Par value $ 2,103,244 $ 600,640 $ 2,703,884 Unamortized premium 98,580 34,100 132,680 Amortized cost 2,201,824 634,740 2,836,564 Gross unrealized gains 6,350 1,887 8,237 Gross unrealized losses (30,657 ) (10,976 ) (41,633 ) Agency RMBS, at fair value $ 2,177,517 $ 625,651 $ 2,803,168 Weighted average coupon as of December 31, 2016 3.49 % 3.60 % 3.52 % Weighted average yield as of December 31, 2016 2.71 % 2.69 % 2.71 % Weighted average yield for the year ended December 31, 2016 2.56 % 2.60 % 2.57 % December 31, 2016 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Agency RMBS: Fixed rate $ 2,747,165 $ 6,003 $ (41,633 ) $ 2,711,535 Adjustable rate 89,399 2,234 — 91,633 Total Agency RMBS $ 2,836,564 $ 8,237 $ (41,633 ) $ 2,803,168 Actual maturities of agency RMBS are generally shorter than the stated contractual maturities. Actual maturities are affected by the contractual lives of the underlying mortgages, periodic principal payments and principal prepayments. The following table summarizes our agency RMBS as of December 31, 2017 and 2016 according to their estimated weighted average life classification (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Estimated Weighted Fair Value Amortized Cost Yield Coupon Fair Value Amortized Cost Yield Coupon Less than or equal to three years $ 40,404 $ 40,815 2.06 % 3.92 % $ 10,061 $ 10,101 1.97 % 4.07 % Greater than three years and less than or equal to five years 534,299 535,608 2.38 % 3.19 % 602,705 600,979 2.32 % 3.24 % Greater than five years and less than or equal to 10 years 3,149,565 3,182,468 2.90 % 3.75 % 1,985,654 2,021,474 2.78 % 3.65 % Greater than 10 years 33,913 34,189 2.98 % 3.50 % 204,748 204,010 3.10 % 3.01 % Total $ 3,758,181 $ 3,793,080 2.82 % 3.67 % $ 2,803,168 $ 2,836,564 2.71 % 3.52 % As of December 31, 2017 and 2016 , the estimated weighted average life of our agency security portfolio was 7.5 years and 7.4 years , respectively, which incorporates anticipated future prepayment assumptions. As of December 31, 2017 and 2016 , our weighted average expected constant prepayment rate (“CPR”) over the remaining life of our aggregate agency investment portfolio was 8.4% and 8.1% , respectively. Realized Gains and Losses The following table summarizes our net realized gains and losses from the sale of agency RMBS during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from agency securities sold $ 1,047,133 $ 1,374,242 $ 2,245,959 Less agency securities sold, at cost (1,047,376 ) (1,370,467 ) (2,248,749 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) Gross realized gains on sale of agency securities $ 4,013 $ 9,291 $ 10,867 Gross realized losses on sale of agency securities (4,256 ) (5,516 ) (13,657 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) Pledged Assets The following tables summarize our agency RMBS pledged as collateral under financing and derivative agreements by type as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fannie Mae Freddie Mac Total Fair Value of Agency Securities Pledged Under: Financing agreements $ 2,443,591 $ 1,137,587 $ 3,581,178 Derivative agreements 84 606 690 Total fair value 2,443,675 1,138,193 3,581,868 Accrued interest on pledged agency RMBS 7,132 3,399 10,531 Total Fair Value of Agency RMBS Pledged and Accrued Interest $ 2,450,807 $ 1,141,592 $ 3,592,399 December 31, 2016 Fannie Mae Freddie Mac Total Fair Value of Agency Securities Pledged Under: Financing agreements $ 2,095,706 $ 616,292 $ 2,711,998 Derivative agreements 605 671 1,276 Total fair value 2,096,311 616,963 2,713,274 Accrued interest on pledged agency RMBS 5,892 1,775 7,667 Total Fair Value of Agency RMBS Pledged and Accrued Interest $ 2,102,203 $ 618,738 $ 2,720,941 The following table summarizes our agency RMBS pledged as collateral under financings agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Cost Accrued Interest Fair Value Amortized Cost Accrued Interest 30 days or less $ 940,788 $ 949,282 $ 2,765 $ 672,749 $ 681,287 $ 1,887 31 - 59 days 1,298,331 1,311,882 3,818 1,061,202 1,074,283 3,030 60 - 90 days 261,823 262,908 785 496,562 500,517 1,363 Greater than 90 days 1,080,236 1,091,195 3,161 481,485 488,344 1,384 Total $ 3,581,178 $ 3,615,267 $ 10,529 $ 2,711,998 $ 2,744,431 $ 7,664 As of December 31, 2017 and 2016 , none of our repurchase agreement borrowings backed by agency RMBS had original overnight maturities. All of our FHLB advances backed by agency RMBS matured during the first quarter of 2017. As a result, we had no outstanding secured FHLB advances as of December 31, 2017 .

Summary of Significant Accounti

Summary of Significant Accounting Policies (Notes)	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The consolidated financial statements of the Company are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Our consolidated financial statements include the accounts of all subsidiaries. Significant intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates. Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Cash and Cash Equivalents Cash and cash equivalents consist of unrestricted demand deposits and highly liquid investments with original maturities of three months or less. Cash and cash equivalents are carried at cost, which approximates fair value. Restricted Cash and Cash Equivalents Restricted cash includes cash pledged as collateral for clearing and executing trades, derivatives and repurchase agreements and cash reserves for capital improvements on our healthcare real estate investments. Restricted cash is carried at cost, which approximates fair value. Fair Value of Financial Assets We have elected the option to account for all of our financial assets, including all mortgage-related investments, at estimated fair value, with changes in fair value reflected in income during the period in which they occur. In management's view, this election more appropriately reflects the results of our operations for a particular reporting period, as financial asset fair value changes are presented in a manner consistent with the presentation and timing of the fair value changes of hedging instruments. See Note 9 - Fair Value Measurements. Interest Income Interest income is accrued based on the outstanding principal amount of the securities and their contractual terms. Premiums or discounts associated with the purchase of agency RMBS and non-agency securities of high credit quality are amortized or accreted into interest income, respectively, over the projected lives of the securities, including contractual payments and estimated prepayments, using the effective interest method. We estimate long-term prepayment speeds using a third-party service and market data. Actual and anticipated prepayment experience is reviewed at least quarterly and effective yields are recalculated when differences arise between the previously estimated future prepayments and the amounts received plus currently anticipated future prepayments. If the actual and anticipated future prepayment experience differs from our prior estimate of prepayments, we are required to record an adjustment in the current period to the amortization or accretion of premiums and discounts for the cumulative difference in the effective yield through the reporting date. At the time we purchase non-agency securities that are not of high credit quality, we determine an effective yield based on our estimate of the timing and amount of future cash flows and our cost basis. Our initial cash flow estimates for these investments are based on our observations of current information and events and include assumptions related to interest rates, prepayment rates and the impact of default and severity rates on the timing and amount of credit losses. On at least a quarterly basis, we review the estimated cash flows and make appropriate adjustments, based on inputs and analysis received from external sources, internal models, and our judgment about interest rates, prepayment rates, the timing and amount of credit losses, and other factors. Any resulting changes in effective yield are recognized prospectively based on the current amortized cost of the investment as adjusted for credit impairment, if any. Real Property Owned Tangible assets primarily consist of land, buildings and furniture, fixtures and equipment. Depreciable tangible assets are depreciated on a straight-line basis over their estimated useful lives, which can range from 3 years for furniture, fixtures and equipment to 40 years for buildings. On January 1, 2017 the Company adopted Accounting Standards Update (“ASU”) No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”) which provides a framework to determine whether a transaction involves an asset, or a group of assets, or a business. ASU 2017-01 states that when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the transaction should not be considered a business combination. The ASU also clarifies the requirements for a set of activities to be considered a business and narrows the definition of outputs that would lead to business combination accounting treatment. As a result of these changes, the Company expects that a majority of its future real estate acquisitions and dispositions will be deemed asset transactions rather than business combinations. For asset acquisitions subsequent to January 1, 2017, the Company records identifiable assets acquired, liabilities assumed and any associated noncontrolling interests at cost on a relative fair value basis, with no goodwill recognized and third-party transaction costs capitalized. The net book value of long-lived assets is reviewed quarterly on a property by property basis to determine if facts and circumstances suggest that the assets may be impaired or that depreciable lives may need to be changed. We consider external factors relating to each asset and the existence of a master lease that may link the cash flows of an individual asset to a larger portfolio of assets leased to the same tenant. If these factors and the projected undiscounted cash flows of the asset over the remaining depreciation period indicate that the asset will not be recoverable, the carrying value is reduced to the estimated fair market value. In addition, we are exposed to the risks inherent in investments in real estate and, in particular, the senior housing and healthcare industries. A downturn in these industries or in the real estate markets in which our properties are located could adversely affect the value of our properties and our ability to sell properties for a price or terms acceptable to us. Intangible Assets Intangible assets can include goodwill and identifiable intangible assets such as above or below market component of in-place leases and the value associated with the presence of in-place tenants or residents. Goodwill is calculated as the excess of consideration transferred over the estimated fair value of net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill and intangible assets are included in other assets on the consolidated balance sheets and tested for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. Healthcare Real Estate Income Healthcare real estate income consists primarily of lease and rental income. For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight line basis over the lease term when collectability is reasonably assured. Recognizing lease income on a straight line basis results in a difference in the timing of revenue amounts from what is contractually due. If the Company determines that collectability of straight line lease income is not reasonably assured, future revenue recognition is limited to amounts contractually owed and paid, and, when appropriate, an allowance for estimated losses is established. Resident rental income is recorded when services are rendered and includes resident room and care charges, community fees and other resident charges. Residency agreements are generally for a term of 30 days to one year, with resident fees billed monthly. Revenue for certain care-related services is recognized as the services are provided. Noncontrolling Interests Arrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s stockholders' equity, recorded at the initial carrying amount, and increased or decreased for the noncontrolling interest’s share of net income or loss. Net income attributable to a noncontrolling interest is included in net income on the consolidated statements of operations. Deferred Loan Expenses We amortize deferred financing costs, which are reported within notes payable, net of deferred financing costs on our consolidated balance sheets, as a component of interest expense of the debt over the terms of the related borrowings using a method that approximates a level yield. Repurchase Agreements We finance the acquisition of agency RMBS and non-agency securities through repurchase transactions under master repurchase agreements. We account for repurchase transactions as collateralized financing transactions which are carried at their contractual amounts, including accrued interest, as specified in the respective transaction agreements. The contractual amounts approximate fair value due to their short-term maturities or floating rate coupons. Reverse Repurchase Agreements and Obligation to Return Securities Borrowed under Reverse Repurchase Agreements We borrow securities to cover short sales of U.S. Treasury securities through reverse repurchase transactions under our master repurchase agreements (see Derivatives below). We account for these as securities borrowing transactions and recognize an obligation to return the borrowed securities at fair value on the consolidated balance sheets based on the value of the underlying borrowed securities as of the reporting date. The fair value of our reverse repurchase agreements is assumed to equal cost as they generally mature daily or have interest rates that are reset daily. Manager Compensation The management agreement provides for the payment to our Manager of a management fee and reimbursement of certain operating expenses, which are accrued and expensed during the period for which they are earned or incurred. Refer to Note 13 for disclosure on the terms of the management agreement. Derivatives We utilize a risk management strategy, under which we may use a variety of derivative instruments to mitigate our exposure to market risks, including interest rate risk, prepayment risk, extension risk and credit risk. The objective of our risk management strategy is to reduce fluctuations in net asset value over a range of market conditions. The principal instruments that we currently use are interest rate swaps and options to enter into interest rate swaps (“interest rate swaptions”). We also utilize forward contracts for the purchase or sale of agency RMBS, or to-be-announced forward (“TBA”) contracts, and short sales of U.S. Treasury securities and U.S. Treasury futures contracts. We may also purchase or sell options on TBA securities and utilize other types of derivative instruments. We also enter into TBA contracts as a means of investing in and financing agency RMBS (thereby increasing our “at risk” leverage) or as a means of disposing of or reducing our exposure to agency RMBS (thereby reducing our “at risk” leverage). Pursuant to TBA contracts, we agree to purchase or sell, for future delivery, agency RMBS with certain principal and interest terms and certain types of collateral, but the particular agency RMBS to be delivered are not identified until shortly before the TBA settlement date. We may also choose, prior to settlement, to move the settlement of these securities out to a later date by entering into an offsetting short or long position (referred to as a “pair off”), net settling the paired off positions for cash, and simultaneously purchasing or selling a similar TBA contract for a later settlement date. This transaction is commonly referred to as a “dollar roll.” The agency RMBS purchased or sold for a forward settlement date are typically priced at a discount to agency RMBS for settlement in the current month. This difference (or discount) is referred to as the “price drop.” The price drop is the economic equivalent of net interest carry income on the underlying agency RMBS over the roll period (interest income less implied financing cost) and is commonly referred to as “dollar roll income (loss).” Consequently, forward purchases of agency RMBS and dollar roll transactions represent a form of off-balance sheet financing. We present all derivative instruments as either assets or liabilities at fair value on our consolidated balance sheets and report all changes in fair value in earnings in our consolidated statements of operations in unrealized gain (loss) on other derivatives and securities, net during the period in which they occur. Derivatives in a gain position are reported as derivative assets at fair value and derivatives in a loss position are reported as derivative liabilities at fair value in our consolidated balance sheets. Cash receipts and payments related to derivative instruments are classified in our consolidated statements of cash flows according to the underlying nature or purpose of the derivative transaction, generally in the investing section. Our derivative agreements generally contain provisions that allow for netting or setting off derivative assets and liabilities with each counterparty; however, we report related assets and liabilities on a gross basis in our consolidated balance sheets. The use of derivative instruments creates exposure to credit risk relating to potential losses that could be recognized in the event counterparties to these instruments fail to perform their obligations under the contracts. Our derivative agreements require that we post or receive collateral based on daily market value changes. We also attempt to minimize our risk of loss by limiting our counterparties to major financial institutions with acceptable credit ratings, monitoring positions with individual counterparties and adjusting posted collateral as required. Interest rate swap agreements We use interest rate swaps to hedge the variable cash flows associated with short-term borrowings made under our repurchase agreement and other financing facilities. Under our interest rate swap agreements, we typically pay a fixed rate and receive a floating rate based on one, three or six-month LIBOR (“payer swaps”) with terms up to 15 years. The floating rate we receive under our swap agreements has the effect of offsetting the repricing characteristics of our repurchase agreements and cash flows on such liabilities. Our swap agreements are privately negotiated in the over-the-counter (“OTC”) market. Swap agreements entered into subsequent to May 2013 are centrally cleared through the Chicago Mercantile Exchange (“CME”), a registered commodities exchange. We estimate the fair value of our centrally cleared interest rate swaps using the daily settlement price determined by the respective exchange. Centrally cleared swaps are valued by the exchange using a pricing model that references observable market inputs, including LIBOR, swap rates and the forward yield curve, to produce the daily settlement price. Our centrally cleared swaps require that we post an “initial margin” to our counterparties for an amount determined by the CME, which is generally intended to be set at a level sufficient to protect the CME from the maximum estimated single-day price movement in that market participant’s contracts. We also exchange cash “variation margin” with our counterparties on our centrally cleared swaps based upon daily changes in the fair value as measured by the CME. Beginning in the first quarter of 2017, as a result of a CME amendment to its rule book governing central clearing activities, the daily exchange of variation margin associated with a CME centrally cleared derivative instrument is legally characterized as the daily settlement of the derivative instrument itself, as opposed to a pledge of collateral. Accordingly, beginning in 2017, we account for the daily receipt or payment of variation margin associated with our centrally cleared interest rate swaps as a direct reduction to the carrying value of the interest rate swap derivative asset or liability, respectively. Beginning in 2017, the carrying amount of centrally cleared interest rate swaps reflected in our consolidated balance sheets is equal to the unsettled fair value of such instruments. We estimate the fair value of our “non-centrally cleared” interest rate swaps based on valuations obtained from third-party pricing services and the swap counterparty (collectively, “third-party valuations”). The third-party valuations are model-driven using observable inputs, including LIBOR, swap rates and the forward yield curve. We also consider the creditworthiness of both us and our counterparties and the impact of netting and credit enhancement provisions contained in each derivative agreement, such as collateral postings. All of our “non-centrally cleared” interest rate swaps are subject to bilateral collateral arrangements. Consequently, no credit valuation adjustment was made in determining the fair value of such instruments. The payment of periodic settlements of net interest on interest rate swaps is reported in realized loss on periodic settlements of interest rate swaps, net in our consolidated statements of operations. Cash payments received or paid for the early termination of an interest rate swap agreement are recorded as realized loss on other derivatives and securities, net in our consolidated statements of operations. Changes in fair value of our interest rate swap agreements are reported in unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. Interest rate swaptions We purchase interest rate swaptions to help mitigate the potential impact of larger, more rapid changes in interest rates on the performance of our investment portfolio. The interest rate swaptions provide us the option to enter into an interest rate swap agreement for a predetermined notional amount, stated term and pay or receive interest rates in the future. The premium paid for interest rate swaptions is reported as a derivative asset in our consolidated balance sheets. We estimate the fair value of interest rate swaptions based on the fair value of the future interest rate swap that we have the option to enter into as well as the remaining length of time that we have to exercise the option. The difference between the premium and the fair value of the swaption is reported in unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. If a swaption expires unexercised, the realized loss on the swaption would be equal to the premium paid and reported in realized loss on other derivatives and securities, net in our consolidated statements of operations. If we exercise a swaption, the realized gain or loss on the swaption would be equal to the difference between the fair value of the underlying interest rate swap and the premium paid and reported in realized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. Interest rate swaption agreements are privately negotiated in the OTC market and are not subject to central clearing. We estimate the fair value of our interest rate swaption agreements based on model-driven valuations obtained from third-party pricing services and the swaption counterparty. These estimates incorporate observable inputs and include the fair value of the future interest rate swaps that we have the option to enter into, as well as the remaining length of time that we have to exercise the options, adjusted for non-performance risk, if any. TBA securities TBA securities are forward contracts for the purchase (“long position”) or sale (“short position”) of agency RMBS at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date. The specific agency RMBS delivered into the contract upon the settlement date, published each month by the Securities Industry and Financial Markets Association, are not known at the time of the transaction. We may enter into TBA contracts as a means of hedging against short-term changes in interest rates. We may also enter into TBA dollar roll transactions to finance agency RMBS purchases. We account for all TBA contracts as derivatives since we cannot assert that it is probable at the inception and throughout the term of the contract that it will not settle net and will result in physical delivery of an agency security when it is issued. A TBA dollar roll transaction is a series of derivative transactions. The net settlement of a TBA contract is reported as realized gain (loss) on other derivatives and securities, net and changes in the fair value of our TBA contracts are reported as unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. We estimate the fair value of TBA securities based on similar methods used to value our agency RMBS. U.S. Treasury securities We purchase or sell short U.S. Treasury securities and U.S. Treasury futures contracts to help mitigate the potential impact of changes in interest rates on the performance of our portfolio. Realized gains and losses associated with purchases and short sales of U.S. Treasury securities and U.S. Treasury futures contracts are recognized in realized gain (loss) on other derivatives and securities, net, and unrealized gains and losses are recognized in unrealized gain (loss) on other derivatives and securities, net on our consolidated statements of operations. Income Taxes We elected to be taxed as a REIT under the provisions of the Internal Revenue Code and the corresponding provisions of state law. In order to qualify as a REIT, we must annually distribute, in a timely manner to our stockholders, at least 90% of our taxable ordinary income. A REIT is generally not subject to U.S. federal and state corporate income tax on its earnings to the extent that it distributes its annual taxable income to its stockholders and as long as certain asset, income and stock ownership tests are met. We operate in a manner that will allow us to be taxed as a REIT. As permitted by the Internal Revenue Code, a REIT can designate dividends paid in the subsequent year as dividends of the current year if those dividends are both declared by the extended due date of the REIT's Federal income tax return and paid to stockholders by the last day of the subsequent year, however, we may still be subject to a non-deductible 4% excise tax if the actual amount distributed to our stockholders in a calendar year is less than the minimum amount specified under federal tax laws. We and certain of our domestic subsidiaries have made joint elections to treat the subsidiaries as taxable REIT subsidiaries (“TRS”). As such, these subsidiaries are subject to U.S. federal and state corporate income tax. During December of 2017, the Tax Cuts and Jobs Act (“TCJA”) was signed into law. The TCJA includes sweeping changes to the U.S. tax system starting in fiscal year 2018, including a reduction of the maximum Federal corporate tax rate to 21% from 35% and a lower effective pass-through business income tax rate through the creation of a new deduction for individuals, estates, and trusts of 20 percent of their combined qualified business income amount and REIT ordinary dividend distributions received. Since we typically distribute all our annual taxable income and, as such, do not pay corporate income taxes, we do not expect the TCJA to have a significant impact now or in the future on our consolidated financial statements. We evaluate uncertain income tax positions, if any, in accordance with ASC Topic 740, Income Taxes . To the extent we incur interest and/or penalties in connection with our tax obligations, such amounts shall be classified as income tax expense on our consolidated statements of operations. New Accounting Pronouncements We consider the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board. ASUs not listed below were determined to be either not applicable, are not expected to have a significant impact on our consolidated financial statements when adopted, or did not have a significant impact on our consolidated financial statements upon adoption. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, which is a comprehensive revenue recognition standard that supersedes virtually all existing revenue guidance under U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue recognition with respect to financial instruments and leases is not within the scope of ASU 2014-09. ASU 2014-09 is effective for the Company on January 1, 2018 and our review of each of our revenue streams indicates that it will not have a significant impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02 which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016-02 is effective for the Company on January 1, 2019 and is not expected to have a significant impact on our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15 which addresses several classification issues related to the statement of cash flow, including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, and contingent consideration payments made after a business combination. ASU 2016-15 is effective for the Company on January 1, 2018 and is not expected to have a significant impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18 which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for the Company on January 1, 2018 and is not expected to have a significant impact on our consolidated financial statements.

Non-Agency Securities

Non-Agency Securities	12 Months Ended
	Dec. 31, 2017
Non-agency Securities [Abstract]
Non-Agency Securities	Non-Agency Securities The following tables summarize our non-agency securities as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fair Value Gross Unrealized Amortized Cost Premium (Discount) Par/ Current Face Weighted Average Category Gains Losses Coupon (1) Yield Prime $ 143,329 $ 9,342 $ (12 ) $ 133,999 $ (13,893 ) $ 147,892 3.77 % 5.66 % CRT 322,819 18,346 — 304,473 16,011 288,462 5.34 % 5.23 % Alt-A 286,953 51,123 (774 ) 236,604 (112,305 ) 348,909 2.69 % 8.93 % Option-ARM 86,886 13,114 — 73,772 (21,044 ) 94,816 1.79 % 6.58 % Subprime 13,374 929 — 12,445 (683 ) 13,128 5.20 % 5.97 % CMBS 18,723 387 — 18,336 (164 ) 18,500 5.68 % 6.03 % Total $ 872,084 $ 93,241 $ (786 ) $ 779,629 $ (132,078 ) $ 911,707 3.73 % 6.59 % ———————— (1) Coupon rates are floating, except for $11.8 million , $0.9 million , $12.2 million , $13.4 million and $18.7 million fair value of fixed-rate prime, CRT, Alt-A, subprime and CMBS non-agency securities, respectively, as of December 31, 2017 . December 31, 2016 Fair Value Gross Unrealized Amortized Cost Premium (Discount) Par/ Current Face Weighted Average Category Gains Losses Coupon (1) Yield Prime $ 181,267 $ 5,945 $ (2,402 ) $ 177,724 $ (17,672 ) $ 195,396 3.18 % 5.61 % CRT 317,532 18,029 (1,012 ) 300,515 2,362 298,153 5.26 % 6.37 % Alt-A 345,586 33,702 (3,330 ) 315,214 (130,714 ) 445,928 2.05 % 7.58 % Option-ARM 180,169 8,075 (4,357 ) 176,451 (38,787 ) 215,238 1.00 % 5.64 % Subprime 92,195 781 (252 ) 91,666 (659 ) 92,325 4.05 % 4.38 % CMBS 17,720 — (73 ) 17,793 (207 ) 18,000 5.65 % 6.02 % Total $ 1,134,469 $ 66,532 $ (11,426 ) $ 1,079,363 $ (185,677 ) $ 1,265,040 3.00 % 6.31 % ———————— (1) Coupon rates are floating, except for $11.8 million , $22.3 million , $57.5 million and $17.7 million fair value of fixed-rate prime, Alt-A, subprime and CMBS non-agency securities, respectively, as of December 31, 2016 . The following table summarizes our non-agency securities at fair value, by their estimated weighted average life classifications as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Estimated Weighted Average Life Fair Value Amortized Cost Coupon Yield Fair Value Amortized Cost Coupon Yield ≤ 5 years $ 302,797 $ 258,501 3.11 % 8.31 % $ 330,507 $ 322,535 3.20 % 5.75 % > 5 to ≤ 7 years 398,712 361,649 4.33 % 5.97 % 487,540 455,263 2.27 % 6.72 % > 7 years 170,575 159,479 3.61 % 5.18 % 316,422 301,565 4.10 % 6.28 % Total $ 872,084 $ 779,629 3.73 % 6.59 % $ 1,134,469 $ 1,079,363 3.00 % 6.31 % Our Prime non-agency securities include investments in securitization trusts collateralized by prime mortgage loans, which were originated between 2002 and 2006, a period of generally weaker underwriting standards and elevated housing prices. As a result, there is still material credit risk embedded in these loan origination vintages. As of December 31, 2017 , Prime non-agency securities also include $17.9 million in fair value of securities with underlying mortgage loans that were originated with more stringent underwriting standards beginning in 2010. As of December 31, 2017 , our Prime securities have both fixed and floating rate coupons ranging from 2.2% to 6.5% , with weighted average coupons of underlying collateral ranging from 3.5% to 5.1% . Our CRT reference the performance of loans underlying agency RMBS issued by Fannie Mae or Freddie Mac, which were subject to their underwriting standards. As of December 31, 2017 , our CRT securities had fixed and floating rate coupons ranging from 1.3% to 8.5% , with weighted average coupons of underlying collateral ranging from 3.6% to 4.3% . The loans underlying our CRT securities were originated between 2012 and 2017. Our Alt-A non-agency RMBS are collateralized by Alt-A mortgage loans that were originated from 2002 to 2007. Alt-A, or alternative A-paper, mortgage loans are considered to have more credit risk than prime mortgage loans and less credit risk than sub-prime mortgage loans. Alt-A loans are typically characterized by borrowers with less than full documentation, lower credit scores, higher loan-to-value ratios and a higher percentage of investment properties. As of December 31, 2017 , our Alt-A securities had both fixed and floating rate coupons ranging from 1.6% to 6.5% with weighted average coupons of underlying collateral ranging from 3.6% to 5.8% . Our Option-ARM non-agency RMBS include senior tranches in securitization trusts that are collateralized by residential mortgages that have origination and underwriting characteristics similar to Alt-A mortgage loans, with the added feature of providing underlying mortgage borrowers the option, within certain constraints, to make lower payments than otherwise required by the stated interest rate for a number of years, leading to negative amortization and increased loan balances. This additional feature can increase the credit risk of these securities. As of December 31, 2017 , our Option-ARM securities had coupons ranging from 1.7% to 2.3% and have underlying collateral with weighted average coupons between 3.5% and 4.4% . The loans underlying our Option-ARM securities were originated between 2004 and 2007. Our Subprime non-agency RMBS include investments in securitization trusts collateralized by residential mortgages originated during or before 2005 that were originally considered to be of lower credit quality. As of December 31, 2017 , our Subprime securities had a fair value of $13.4 million with fixed and floating rate coupons ranging from 5.0% to 5.5% and have underlying collateral with weighted-average coupons ranging from 5.6% to 5.7% . Our CMBS are collateralized by a commercial mortgage loan originated in 2016 that is secured by first priority liens on 64 skilled nursing facilities. As of December 31, 2017 , our CMBS securities had a fair market value of $18.7 million with fixed rate coupons ranging from 5.2% to 6.6% and underlying collateral with a weighted average coupon of 4.5% . More than 90% of our non-agency RMBS are rated below investment grade or have not been rated by credit agencies as of December 31, 2017 . Realized Gains and Losses The following table summarizes our net realized gains from the sale of non-agency securities during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from non-agency securities sold $ 577,678 $ 725,311 $ 440,075 Increase (decrease) in receivable for securities sold — (2,565 ) 2,565 Less: non-agency securities sold, at cost (544,863 ) (716,799 ) (436,967 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673 Gross realized gain on sale of non-agency securities $ 33,172 $ 12,129 $ 8,869 Gross realized loss on sale of non-agency securities (357 ) (6,182 ) (3,196 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673 Pledged Assets Non-agency securities with a fair value of $0.7 billion and $1.0 billion were pledged as collateral under financing arrangements as of December 31, 2017 and 2016 , respectively, none of which had original overnight maturities. The following table summarizes our non-agency securities pledged as collateral under repurchase agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Accrued Interest Fair Value Amortized Accrued Interest 30 days or less $ 585,943 $ 517,750 $ 815 $ 859,046 $ 814,457 $ 1,142 31 - 59 days 97,537 82,105 145 109,057 103,483 83 60 - 90 days 59,798 58,651 135 51,731 49,043 136 Total $ 743,278 $ 658,506 $ 1,095 $ 1,019,834 $ 966,983 $ 1,361

Investments in Real Property In

Investments in Real Property Investments (Notes)	12 Months Ended
	Dec. 31, 2017
Investment in Real Property [Abstract]
Real Estate Disclosure [Text Block]	Investments in Real Property Investment Activity During the three months ended March 31, 2017, CHI invested in two assisted living and memory care facilities located in Utah for total consideration of $26.5 million . These facilities have been leased to an operator pursuant to a triple net lease for a term of 10 years with two 5-year extensions. During May 2017, CHI acquired a portfolio of nine skilled nursing facilities located in Virginia for total consideration of $130.0 million . These facilities have been leased to an operator pursuant to a triple net lease for a term of 15 years with two 5-year extensions. During June 2017, CHI acquired an assisted living facility located in Georgia for total consideration of $17.1 million through an existing joint venture structured in a manner intended to comply with the REIT Income Diversification and Empowerment Act (“RIDEA”). The total purchase price for all properties acquired has been allocated to assets and liabilities based upon their respective fair values in accordance with our accounting policies. As a result of these purchase price allocations, $153.0 million was allocated to buildings, $9.6 million to furniture, fixtures and equipment and $11.0 million to land during 2017. The following table summarizes our real estate investments net of accumulated depreciation as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Buildings and improvements $ 233,407 $ 78,639 Furniture, fixtures and equipment 14,537 4,453 Less: accumulated depreciation (7,592 ) (1,312 ) Buildings, furniture, fixtures and equipment, net of accumulated depreciation 240,352 81,780 Land 16,641 5,646 Goodwill 5,840 5,840 Working capital (1) 18,994 9,602 Total real estate assets $ 281,827 $ 102,868 ———————— (1) Working capital primarily includes $16.1 million and $6.6 million of cash and cash equivalents and $2.8 million and $0.5 million of rent receivable recorded in other assets on the consolidated balances sheets as of December 31, 2017 and 2016 , respectively. Notes Payable CHI finances its real estate investments primarily through secured debt. As of December 31, 2017 , CHI had fixed rate debt with a principal amount of $138.8 million , a weighted average maturity of 25.6 years and an interest rate of 3.80% and floating rate debt with a principal amount of $50.3 million , a weighted average maturity of 0.8 years and a weighted average interest rate of 4.34% . CHI's floating rate debt consists of bridge loans entered into at the closing of the transactions, and CHI intends to refinance such bridge loans with long-term fixed rate financings under GSE or HUD programs. As of December 31, 2016 , CHI had floating rate debt with a principal amount of $51.0 million , a weighted average maturity of 1.2 years and a weighted average interest rate of 4.74% and fixed rate debt with a principal amount of $16.7 million , a weighted average maturity of 9.5 years and an interest rate of 4.58% . The following is a summary of our notes payable activity for the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 66,527 $ — Debt issued and assumed, net of deferred financing costs (1) 153,369 66,451 Amortization of deferred financing costs 971 258 Principal repayments (34,367 ) (182 ) Ending balance $ 186,500 $ 66,527 ———————— (1) Includes $76.0 million of notes payable assumed through acquisitions of our portfolio of skilled nursing facilities in Virginia. Our notes payable of $189 million and $67 million, excluding deferred financing costs, had a fair value of approximately $190 million and $65 million as of December 31, 2017 and 2016 , respectively. Income from Healthcare Real Estate Investments The following table presents the components of net income from our real property investments for the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Lease income $ 18,283 $ 3,626 Rental income 6,148 2,433 Healthcare real estate income 24,431 6,059 Interest expense 7,808 1,814 Depreciation 6,280 1,312 Transaction expenses — 890 Tenant expenses 4,235 1,384 Other 246 — Healthcare real estate expense 18,569 5,400 Net healthcare investment income $ 5,862 $ 659 Healthcare lease income is derived from our real property investments subject to triple net lease arrangements, and rental income relates to investments made through RIDEA joint ventures. Under RIDEA, a REIT may lease “qualified healthcare properties” on an arm’s-length basis to a taxable REIT subsidiary (“TRS”) if the property is operated on behalf of such subsidiary by a person who qualifies as an “eligible independent contractor.” Generally, the rent received from the TRS will meet the related party rent exception and will be treated as “rents from real property.” Resident level rents and related operating expenses are subject to federal and state income taxes as the operations of such facilities are included in a TRS. At December 31, 2017 , future minimum lease payments receivable related to our healthcare and senior living facilities are as follows (dollars in thousands): December 31, 2017 2018 $ 20,345 2019 20,764 2020 21,191 2021 21,627 2022 22,073 Thereafter 193,233 Total $ 299,233

Repurchase Agreements

Repurchase Agreements	12 Months Ended
	Dec. 31, 2017
Disclosure of Repurchase Agreements [Abstract]
Repurchase Agreements	Repurchase Agreements and Federal Home Loan Bank Advances We pledge certain of our securities as collateral under repurchase and other financing arrangements with financial institutions and the terms and conditions are negotiated on a transaction-by-transaction basis. Interest rates on these borrowings are generally based on LIBOR plus or minus a margin and amounts available to be borrowed are dependent upon the fair value of the securities pledged as collateral, which fluctuates with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries. In response to declines in fair value of pledged securities, lenders may require us to post additional collateral or pay down borrowings to re-establish agreed upon collateral requirements, referred to as margin calls. As of December 31, 2017 and 2016 , we have met all margin call requirements and had no agency or non-agency repurchase agreements with original overnight maturities. Repurchase agreements are carried at cost, which approximates fair value due to their short-term maturities or floating rate coupons. As of December 31, 2017 and 2016 , our borrowings under repurchase agreements had the following collateral characteristics (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Collateral Type Borrowings Interest Rate Days Borrowings Interest Rate Days Agency securities $ 3,307,662 1.54 % 114 $ 2,215,151 1.00 % 159 Non-agency securities 556,057 2.72 % 24 755,665 2.23 % 23 Total repurchase agreements $ 3,863,719 1.71 % 101 $ 2,970,816 1.31 % 125 The following table summarizes our borrowings under repurchase arrangements as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Borrowings Outstanding Interest Rate Days Borrowings Outstanding Interest Rate Days Agency and non-agency ≤ 1 month $ 1,341,712 1.91 % 17 $ 1,304,341 1.52 % 15 > 1 to ≤ 2 months 1,334,493 1.55 % 40 830,099 1.16 % 41 > 2 to ≤ 3 months 295,204 1.76 % 76 508,047 1.07 % 78 > 3 to ≤ 6 months 334,372 1.51 % 123 63,329 0.93 % 114 > 6 to ≤ 12 months 292,938 1.57 % 256 — N/A N/A > 12 months 265,000 1.80 % 658 265,000 1.32 % 1023 Total repurchase agreements $ 3,863,719 1.71 % 101 $ 2,970,816 1.31 % 125 We had repurchase agreements with 34 financial institutions as of December 31, 2017 . Less than 5% of stockholders' equity was at risk due to collateral pledged in excess of borrowings under repurchase agreements with any one counterparty, with the top five counterparties representing approximately 17% of our stockholders' equity at risk as of December 31, 2017 . We had agency RMBS with fair values of $3.6 billion and $2.4 billion pledged as collateral against repurchase agreements as of December 31, 2017 and 2016 , respectively. We had non-agency securities with fair values of $0.7 billion and $1.0 billion pledged as collateral against repurchase agreements as of December 31, 2017 and 2016 , respectively. Federal Home Loan Bank Advances The Company's FHLB advances matured and were repaid in full in February 2017, coinciding with the termination of the Company's captive insurance subsidiary's FHLB membership.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2017
Derivative Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivatives and Other Securities In connection with our risk management strategy, we mitigate our exposure to market risks, including interest rate risk, prepayment risk and credit risk, by entering into derivative and other hedging instrument contracts. We may enter into agreements for interest rate swaps, interest rate swaptions, interest rate cap or floor contracts and futures or forward contracts. We may also purchase or short TBA and U.S. Treasury securities, purchase or sell options on TBA securities or we may invest in other types of derivative securities, including synthetic total return swaps and credit default swaps. Our risk management strategy attempts to manage the overall risk of the portfolio and reduce fluctuations in net asset value. Derivatives have not been designated as hedging instruments. For additional information regarding our derivative instruments and our overall risk management strategy, please refer to the discussion of derivatives in Note 2. The table below presents the balance sheet location and fair value information for our derivatives outstanding as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Derivative assets: Interest rate swaps $ 4,894 $ 26,766 Interest rate swaptions 6,728 1,467 TBA securities 3,090 815 Derivative assets, at fair value $ 14,712 $ 29,048 Derivative liabilities: Interest rate swaps $ — $ 4,475 TBA securities 1,339 19,304 Credit default swaps 3,115 4,041 Derivative liabilities, at fair value $ 4,454 $ 27,820 The following tables summarize the effect of our outstanding derivatives and other securities on our consolidated statements of operations during the three years ended December 31, 2017 (in thousands): For the Years Ended December 31, 2017 2016 2015 Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Interest rate swaps $ (7,317 ) $ 37,971 $ (19,939 ) $ (10,337 ) $ (80,762 ) $ 73,646 $ (16,437 ) $ (53,114 ) $ 9,662 Interest rate swaptions — (2,735 ) (656 ) — (1,307 ) 813 — (4,049 ) 156 TBA securities — 18,852 20,240 — (3,422 ) (19,295 ) — 22,727 (10,825 ) Short sales of U.S. Treasuries — (20,743 ) (3,310 ) — (14,303 ) 11,955 — (15,544 ) 1,757 Credit default swaps — (1,065 ) 232 — (1,461 ) (2,655 ) — 125 895 Other — 201 7 — 4,546 (1,075 ) — 3,954 411 Total $ (7,317 ) $ 32,481 $ (3,426 ) $ (10,337 ) $ (96,709 ) $ 63,389 $ (16,437 ) $ (45,901 ) $ 2,056 The following tables summarize changes in notional amounts for our outstanding derivatives and other securities during the three years ended December 31, 2017 (in thousands): December 31, 2016 Additions/ Long Positions Expirations/ Terminations/ Short Positions December 31, 2017 Interest rate swaps $ 2,975,000 1,145,000 (590,000 ) $ 3,530,000 Interest rate swaptions $ 150,000 375,000 (100,000 ) $ 425,000 TBA securities $ 886,042 26,028,309 (25,209,965 ) $ 1,704,386 U.S. Treasuries $ 21,000 35,000 (56,000 ) $ — Short sales of U.S. Treasuries $ (511,000 ) 1,426,000 (1,761,700 ) $ (846,700 ) Credit default swaps $ 49,000 — (1,000 ) $ 48,000 December 31, 2015 Additions/ Long Positions Expirations/ Terminations/ Short Positions December 31, 2016 Interest rate swaps $ 2,290,000 1,835,000 (1,150,000 ) $ 2,975,000 Interest rate swaptions $ 250,000 — (100,000 ) $ 150,000 TBA securities $ 59,878 16,995,682 (16,169,518 ) $ 886,042 U.S. Treasuries $ — 344,500 (323,500 ) $ 21,000 U.S. Treasury futures $ (350,000 ) 1,600,000 (1,250,000 ) $ — Short sales of U.S. Treasuries $ (269,000 ) 959,500 (1,201,500 ) $ (511,000 ) Mortgage options $ — 50,000 (50,000 ) $ — Interest only swaps $ 40,128 — (40,128 ) $ — Credit default swaps $ 49,500 — (500 ) $ 49,000 December 31, 2014 Additions/ Long Positions Expirations/ December 31, 2015 Interest rate swaps $ 4,015,000 275,000 (2,000,000 ) $ 2,290,000 Interest rate swaptions $ 550,000 100,000 (400,000 ) $ 250,000 TBA securities $ 296,172 28,149,744 (28,386,038 ) $ 59,878 U.S. Treasuries $ 756,500 3,772,750 (4,529,250 ) $ — U.S. Treasury futures $ (150,000 ) 800,000 (1,000,000 ) $ (350,000 ) Short sales of U.S. Treasuries $ (228,500 ) 1,698,200 (1,738,700 ) $ (269,000 ) Mortgage options $ — 50,000 (50,000 ) $ — Interest only swaps $ 48,739 — (8,611 ) $ 40,128 Credit default swaps $ — 99,500 (50,000 ) $ 49,500 Credit default options $ — 50,000 (50,000 ) $ — Interest Rate Swap Agreements Our derivative portfolio includes interest rate swaps, which are used to manage our exposure to interest rate risk. Under our interest rate swaps, we typically pay a fixed rate and receive a floating rate based on LIBOR with terms usually ranging up to 15 years. As of December 31, 2017 and 2016 , we had interest rate swap agreements summarized in the table below (dollars in thousands). December 31, 2017 December 31, 2016 Notional Weighted Average Notional Weighted Average Current Maturity Date (1) Fixed (2) Receive (3) Maturity (Years) Fixed (2) Receive (3) Maturity (Years) ≤ 3 years $ 1,500,000 1.26 % 1.46 % 1.3 $ 1,865,000 1.14 % 0.92 % 1.8 > 3 to ≤ 5 years 985,000 1.79 % 1.47 % 4.0 475,000 1.78 % 0.93 % 4.8 > 5 to ≤ 7 years 350,000 1.78 % 1.40 % 5.7 510,000 1.78 % 0.89 % 5.8 > 7 years 695,000 2.26 % 1.47 % 9.9 125,000 2.08 % 0.91 % 9.7 Total $ 3,530,000 1.65 % 1.46 % 4.2 $ 2,975,000 1.39 % 0.92 % 3.3 ———————— (1) Includes swaps with an aggregate notional of $0.4 billion and $0.2 billion with deferred start dates averaging 0.1 years and 0.2 years from December 31, 2017 and 2016 , respectively. (2) Excluding forward starting swaps, the weighted average pay rate was 1.58% and 1.35% as of December 31, 2017 and 2016 , respectively. (3) Weighted average receive rate excludes impact of forward starting interest rate swaps. Interest Rate Swaption Agreements Our interest rate swaption agreements provide us the option to enter into interest rate swap agreements in the future where we would pay a fixed rate and receive LIBOR. The following tables present certain information about our interest rate swaption agreements as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Option Underlying Swap Current Option Expiration Date Cost Fair Value Weighted Average Years to Expiration Notional Amount Pay Rate Weighted Average Term (Years) ≤ 12 months $ 2,111 $ 1,621 0.9 $ 175,000 2.71 % 8.6 >12 to ≤ 24 months 2,083 1,400 1.5 75,000 2.73 % 10.0 > 24 months 7,951 3,707 3.4 175,000 2.87 % 8.9 Total / weighted average $ 12,145 $ 6,728 2.0 $ 425,000 2.78 % 8.9 December 31, 2016 Option Underlying Swap Current Option Expiration Date Cost Fair Value Weighted Average Years to Expiration Notional Amount Pay Rate Weighted Average Term (Years) > 3 to ≤ 12 months $ 2,734 $ 340 0.9 $ 100,000 3.21 % 5.0 > 12 months 3,493 1,127 6.7 50,000 3.00 % 7.0 Total / weighted average $ 6,227 $ 1,467 2.8 $ 150,000 3.14 % 5.7 TBA Securities As of December 31, 2017 and 2016 , we had contracts to purchase (“long position”) and sell (“short position”) TBA securities on a forward basis, presented in the following table (in thousands): December 31, 2017 2016 Purchase and Sale Contracts for TBA Securities Notional Amount (1) Fair Value (2) Notional Amount (1) Fair Value (2) TBA assets: Purchase of TBA securities $ 1,386,416 $ 3,089 $ 410,300 $ 815 Sale of TBA securities (1,200 ) 1 (1,000 ) — Total TBA assets 1,385,216 3,090 409,300 815 TBA liabilities: Purchase of TBA securities 319,170 (1,339 ) 678,542 (18,636 ) Sale of TBA securities — — (201,800 ) (668 ) Total TBA liabilities 319,170 (1,339 ) 476,742 (19,304 ) Total net TBA $ 1,704,386 $ 1,751 $ 886,042 $ (18,489 ) ———————— (1) Notional amount represents the par value or principal balance of the underlying agency security. (2) Fair value represents the current market value of the agency RMBS underlying the TBA contract as of period end, less the forward price to be paid for the underlying agency RMBS. U.S. Treasury Securities and Futures We purchase or sell short U.S. Treasury securities and U.S. Treasury futures contracts to mitigate our exposure to changes in interest rates. We had obligations to return U.S. Treasury securities borrowed under reverse repurchase agreements accounted for as securities borrowing transactions with a fair value of $0.8 billion and $0.5 billion as of December 31, 2017 and 2016 , respectively. The borrowed securities were collateralized by cash payments of $0.8 billion and $0.5 billion as of December 31, 2017 and 2016 , respectively, which are presented as receivable under reverse repurchase agreements on the consolidated balance sheets. All changes in fair value of long and short U.S. Treasury securities and futures are recorded in realized and unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. Credit Default Swaps We may invest in credit default swaps to mitigate a portion of the potential impact of credit risk on the fair values of our CRT non-agency securities. As of December 31, 2017 , we had credit default swaps with a notional amount of $48.0 million and a liability fair value of $3.1 million . Credit default swaps are presented in derivative liabilities, at fair value on the consolidated balance sheets. Credit Risk-Related Contingent Features The use of derivatives creates exposure to credit risk relating to potential losses that could be recognized in the event that the counterparties to these instruments fail to perform their obligations under the contracts. We minimize this risk by limiting our counterparties for instruments which are not centrally cleared on a registered exchange to major financial institutions with acceptable credit ratings and monitoring positions with individual counterparties. In addition, both we and our counterparties may be required to pledge collateral for our derivatives, based on the market value, notional amount and remaining term of the derivative contract. In the event of a default by a counterparty, we may not receive payments provided for under the terms of our derivative agreements, and may have difficulty obtaining our assets pledged as collateral for our derivatives. The cash and cash equivalents pledged as collateral for our derivative instruments is included in restricted cash and cash equivalents on our consolidated balance sheets. Each of our ISDA Master Agreements contains provisions pursuant to which we are required to fully collateralize our obligations under our interest rate swap agreements if at any point the fair value of the swap represents a liability greater than the minimum transfer amount contained within our ISDA Master Agreements. We are also required to post initial collateral upon execution of certain of our swap transactions. If we breach any of these provisions, we will be required to settle our obligations under the agreements at their termination values, which approximates fair value. Further, each of our ISDA Master Agreements contain cross default provisions under which a default under certain of our other indebtedness in excess of a certain threshold causes an event of default under the agreement. Threshold amounts vary by lender. Following an event of default, we could be required to settle our obligations under the agreements at their termination values. Additionally, under certain of our ISDA Master Agreements, we could be required to settle our obligations under the agreements at their termination values if we fail to maintain either our REIT status or certain minimum equity thresholds, or comply with limits on our leverage above certain specified levels. As of December 31, 2017 , the fair value of the additional collateral that could be required to be posted as a result of the credit-risk related contingent features being triggered was not material to our consolidated financial statements. Concerning our non-centrally cleared interest rate swap and swaption agreements, we did not have counterparty credit risk with any single counterparty in excess of 1% of our equity, as of December 31, 2017 . In the case of centrally cleared interest rate swap contracts, we could be exposed to credit risk if the central clearing agency or a clearing member defaults on its respective obligation to perform under the contract; however, the risk is considered minimal due to initial and daily exchange of mark to market margin requirements and the clearinghouse guarantee fund and other resources that are available in the event of a clearing member default.

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities (Notes)	12 Months Ended
	Dec. 31, 2017
Offsetting Assets and Liabilities [Abstract]
Offsetting Assets and Liabilities [Text Block]	Offsetting Assets and Liabilities Certain of our repurchase agreements and derivative transactions are governed by underlying agreements that generally provide for a right of offset under master netting arrangements (or similar agreements), including in the event of default or in the event of bankruptcy of either party to the transactions. We present our assets and liabilities subject to such arrangements on a gross basis in our consolidated balance sheets. The following tables present information about our assets and liabilities that are subject to such agreements and can potentially be offset on our consolidated balance sheets as of December 31, 2017 and 2016 (in thousands): Offsetting of Financial Assets and Derivative Assets: Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets Financial Instruments Collateral Received (1) Net Amount December 31, 2017 Interest rate swaps and swaptions (2) $ 11,622 $ — $ 11,622 $ — $ (5,642 ) $ 5,980 TBA 3,090 — 3,090 (1,339 ) — 1,751 Receivable under reverse repurchase agreements 843,130 — 843,130 (725,319 ) (117,811 ) — Total $ 857,842 $ — $ 857,842 $ (726,658 ) $ (123,453 ) $ 7,731 December 31, 2016 Interest rate swaps and swaptions (2) $ 28,233 $ — $ 28,233 $ (4,475 ) $ (9,165 ) $ 14,593 TBA 815 — 815 (815 ) — — Receivable under reverse repurchase agreements 487,469 — 487,469 (366,950 ) (120,519 ) — Total $ 516,517 $ — $ 516,517 $ (372,240 ) $ (129,684 ) $ 14,593 Offsetting of Financial Liabilities and Derivative Liabilities: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets Financial Instruments Collateral Pledged (1) Net Amount December 31, 2017 TBA 1,339 — 1,339 (1,339 ) — — Repurchase agreements 3,863,719 — 3,863,719 (725,319 ) (3,138,400 ) — Total $ 3,865,058 $ — $ 3,865,058 $ (726,658 ) $ (3,138,400 ) $ — December 31, 2016 Interest rate swaps (2) $ 4,475 $ — $ 4,475 $ (4,475 ) $ — $ — TBA 19,304 — 19,304 (815 ) (18,489 ) — Repurchase agreements 2,970,816 — 2,970,816 (366,950 ) (2,603,866 ) — FHLB advances 273,700 — 273,700 — (273,700 ) — Total $ 3,268,295 $ — $ 3,268,295 $ (372,240 ) $ (2,896,055 ) $ — ———————— (1) Includes cash and securities received / pledged as collateral, at fair value. Amounts presented are limited to collateral pledged sufficient to reduce the net amount to zero on a counterparty by counterparty basis, as applicable. Refer to Notes 3 and 4 for additional information regarding assets pledged. (2) Reported under derivative assets / liabilities, at fair value in the accompanying consolidated balance sheets. Refer to Note 7 for a reconciliation of derivative assets / liabilities, at fair value to their sub-components.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements We have elected the option to account for all of our financial assets at fair value, with changes in fair value reflected in income during the period in which they occur. We have determined that this presentation most appropriately represents our financial results and position. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the assumptions market participants would use when pricing an asset or liability. We determine the fair value of our agency and non-agency securities, including securities held as collateral, based upon fair value estimates obtained from multiple third-party pricing services and dealers. In determining fair value, third-party pricing sources use various valuation approaches, including market and income approaches. Factors used by third-party sources in estimating the fair value of an instrument may include observable inputs such as recent trading activity, credit data, volatility statistics, and other market data that are current as of the measurement date. The availability of observable inputs can vary by instrument and is affected by a wide variety of factors, including the type of instrument, whether the instrument is new and not yet established in the marketplace and other characteristics particular to the instrument. Third-party pricing sources may also use certain unobservable inputs, such as assumptions of future levels of prepayment, default and loss severity, especially when estimating fair values for securities with lower levels of recent trading activity. When possible, we make inquiries of third-party pricing sources to understand their use of significant inputs and assumptions. We review the various third-party fair value estimates and perform procedures to validate their reasonableness, including an analysis of the range of third-party estimates for each position, comparison to recent trade activity for similar securities, and our Manager's review for consistency with market conditions observed as of the measurement date. While we do not adjust prices we obtain from third-party pricing sources, we will exclude third-party prices for securities from our determination of fair value if we determine (based on our validation procedures and our Manager's market knowledge and expertise) that the price is significantly different than observable market data would indicate and we cannot obtain a satisfactory understanding from the third party source as to the significant inputs used to determine the price. We determine the fair value of MSR based upon third party estimates, corroborated by other market inputs and internally developed discounted cash flow models that utilize observable market-based inputs and include substantial unobservable market data inputs (including prepayment speeds, delinquency levels and discount rates). We utilize a three-level valuation hierarchy for disclosure of fair value measurement. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. We use the results of the validation procedures described above as part of our determination of the appropriate fair value measurement hierarchy classification. The three levels of valuation hierarchy are defined as follows: • Level 1 Inputs - Quoted prices (unadjusted) for identical unrestricted assets and liabilities in active markets that are accessible at the measurement date. • Level 2 Inputs - Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 Inputs - Significant unobservable market inputs that are supported by little or no market activity. The unobservable inputs represent the assumptions that market participants would use to price the assets and liabilities. The following tables present our financial instruments carried at fair value as of December 31, 2017 and 2016 , on the consolidated balance sheets by the valuation hierarchy, as described above (in thousands): December 31, 2017 Level 1 Level 2 Level 3 Total Assets Agency securities $ — $ 3,758,181 $ — $ 3,758,181 Non-agency securities — 872,084 — 872,084 Derivative assets — 14,712 — 14,712 Total $ — $ 4,644,977 $ — $ 4,644,977 Liabilities Derivative liabilities $ — $ 4,454 $ — $ 4,454 Obligation to return securities borrowed under reverse repurchase agreements 830,776 — — 830,776 Total $ 830,776 $ 4,454 $ — $ 835,230 December 31, 2016 Level 1 Level 2 Level 3 Total Assets Agency securities $ — $ 2,803,168 $ — $ 2,803,168 Non-agency securities — 1,134,469 — 1,134,469 U.S. Treasury securities 20,209 — — 20,209 Derivative assets — 29,048 — 29,048 MSR assets — — 49,776 49,776 Total $ 20,209 $ 3,966,685 $ 49,776 $ 4,036,670 Liabilities Derivative liabilities $ — $ 27,820 $ — $ 27,820 Obligation to return securities borrowed under reverse repurchase agreements 474,935 — — 474,935 Total $ 474,935 $ 27,820 $ — $ 502,755 Our agency and non-agency securities are valued using the various market data described above, which include inputs determined to be observable or whose significant value drivers are observable. Accordingly, our agency and non-agency securities are classified as Level 2 in the fair value hierarchy as of December 31, 2017 . For information regarding valuation of our derivative instruments, please refer to the discussion of derivative and other hedging instruments in Note 2. Our interest rate swaps and other derivatives are classified as Level 2 in the fair value hierarchy. The fair value of our obligation to return securities borrowed under reverse repurchase agreements is based upon the value of the underlying borrowed U.S. Treasury securities as of the reporting date. Both U.S. Treasury securities and our obligation to return borrowed U.S. Treasury securities are classified as Level 1 in the fair value hierarchy. Excluded from the table above are financial instruments, including cash and cash equivalents, restricted cash and cash equivalents, receivables, payables, borrowings under repurchase agreements, FHLB advances and debt secured by healthcare real estate investments, which are presented in our consolidated financial statements at cost. The cost basis of financial instruments with initial terms of less than one year are determined to approximate fair value, primarily due to the short duration of these instruments. The cost basis of floating rate borrowings with initial terms of greater than one year is determined to approximate fair value, primarily as such agreements have floating interest rates based on an index plus or minus a fixed spread and the fixed spread is generally consistent with those demanded in the market. The fair value of fixed rate secured debt is estimated by discounting the estimated future cash flows using the current rates at which similar loans would be made with similar credit ratings and for the same remaining maturities. We estimate the fair value of these instruments using Level 2 inputs. In addition to items that are measured at fair value on a recurring basis, we also have assets and liabilities in our balance sheet that are measured at fair value on a nonrecurring basis, including those acquired in business combinations. We have determined that the fair value measurements included in each of these assets and liabilities rely primarily on company-specific inputs and our assumptions about the use of the assets and settlement of liabilities, and that each of these fair value measurements generally incorporate Level 3 inputs. We estimate the fair value of real estate and related intangibles using the income approach and unobservable data such as net operating income and estimated capitalization and discount rates. We also consider local and national industry market data including comparable sales, and commonly engage an external real estate appraiser to assist us in our estimation of fair value. We estimate the fair value of secured debt assumed in business combinations using current interest rates at which similar borrowings could be obtained on the transaction date. The following table presents a summary of the changes in fair value for Level 3 purchased MSR assets carried at fair value for the years ended December 31, 2017 and 2016 (in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 49,776 $ 70,857 Losses included in net income: Realized losses (1) (1,089 ) (10,335 ) Unrealized losses — (10,746 ) Total net losses included in net income (1,089 ) (21,081 ) Dispositions (48,687 ) — Ending balance $ — $ 49,776 ———————— (1) Realized losses are comprised of realization of cash flows and are included in servicing expense on the consolidated statements of operations. Unrealized gains (losses) are included in unrealized gain (loss) on mortgage servicing rights on the consolidated statements of operations.

Mortgage Servicing Rights (Note

Mortgage Servicing Rights (Notes)	12 Months Ended
	Dec. 31, 2017
Servicing Assets at Fair Value [Line Items]
Transfers and Servicing of Financial Assets [Text Block]	Mortgage Servicing Rights Our subsidiary, Residential Credit Solutions, Inc. (“RCS”), is a mortgage servicer based in Fort Worth, Texas. During the year ended December 31, 2017 , RCS sold its remaining MSR and is now engaged in winding down its remaining operations. The following table summarizes activity related to MSR accounted for as purchases during the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 49,776 $ 70,857 Reductions from sales of MSR (48,687 ) — Changes in fair value due to: Changes in valuation inputs or assumptions used in valuation model — (10,746 ) Other changes in fair value (1) (1,089 ) (10,335 ) Ending balance $ — $ 49,776 ———————— (1) Other changes in fair value primarily represents changes due to the realization of cash flows. The following table presents the components of net servicing loss for the three years ended December 31, 2017 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Servicing fee income $ 2,620 $ 17,836 $ 32,681 Incentive, ancillary and other income 169 3,472 15,957 Servicing income 2,789 21,308 48,638 Employee compensation and benefit costs 3,869 16,624 31,039 Facility costs 472 2,641 10,194 Realization of cash flows from MSR 1,089 10,335 10,033 Other servicing costs 2,696 9,398 14,739 Servicing expense 8,126 38,998 66,005 Net servicing loss $ (5,337 ) $ (17,690 ) $ (17,367 ) Risk Mitigation Activities The Company’s previous investment in MSR exposes us to certain risks, including representation and warranty risk. Representation and warranty risk refers to the representations and warranties we made (or are deemed to have made) to the applicable investor (including, without limitation, the GSEs) regarding, among other things, the origination and servicing of mortgage loans with respect to which we had acquired MSR. We mitigated representation and warranty risk through our due diligence in connection with MSR acquisitions, including counterparty reviews and loan file reviews, as well as negotiated contractual protections from our MSR transaction counterparties with respect to prior origination and servicing. In connection with the sale of its servicing assets and remaining MSR in 2016 and 2017, RCS retained certain risk exposure existing prior to the time of such sales, including representation and warranty risk.

Other Assets (Notes)

Other Assets (Notes)	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Other Assets Disclosure [Text Block]	Other Assets The following table summarizes our other assets as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Servicing advances $ 324 $ 9,151 FHLB membership stock — 11,489 Prepaid expenses 1,993 1,291 Accounts receivable 5,682 4,031 Goodwill 5,840 5,840 Other 9,403 7,376 Total other assets $ 23,242 $ 39,178

Other Liabilities (Notes)

Other Liabilities (Notes)	12 Months Ended
	Dec. 31, 2017
Other Liabilities [Abstract]
Other Liabilities Disclosure [Text Block]	Accounts Payable and Other Accrued Liabilities The following table summarizes our accounts payable and other accrued liabilities as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Cash collateral held $ 5,642 $ 10,807 Due to manager 1,451 1,747 Accrued interest 12,547 6,590 Other accounts payable and accrued expenses 13,952 11,732 Total accounts payable and other accrued liabilities $ 33,592 $ 30,876

Management Agreement and Relate

Management Agreement and Related Parties (Notes)	12 Months Ended
	Dec. 31, 2017
Related Party Transaction [Line Items]
Related Party Transactions Disclosure [Text Block]	Management Agreement and Related Parties We have entered into a management agreement with our Manager with a current renewal term through August 9, 2018 and automatic one-year extension options thereafter. The management agreement may be terminated by us without cause, as defined in the management agreement, upon 90 days’ prior written notice. The management agreement may be terminated by our Manager without cause, as defined in the management agreement, after the completion of the current renewal term, or the expiration of any automatic subsequent renewal term, provided that our Manager provides 180-days prior written notice of non-renewal of the management agreement. If we were to terminate the management agreement without cause, we must pay a termination fee on the last day of the applicable term, equal to three times the average annual management fee earned by our Manager during the prior 24-month period immediately preceding the most recently completed month prior to the effective date of termination. We may only terminate the management agreement with or without cause with the consent of a majority of our independent directors. Our Manager is responsible for, among other things, performing all of our day-to-day functions, determining investment criteria in conjunction with our Board of Directors, sourcing, analyzing and executing investments, asset sales and financings and performing asset management duties. All of our officers, other members of our investment team and other support personnel are employees of the parent company of our Manager. Our Manager provides the infrastructure, business relationships, management expertise, information technologies, capital raising capabilities, legal and compliance functions, and accounting, treasury and investor relations capabilities required to enable our Manager to fulfill all of its responsibilities under the management agreement. We pay our Manager a base management fee payable monthly in arrears in an amount equal to one twelfth of 1.50% of our month-end stockholders' equity, adjusted to exclude the effect of any unrealized gains or losses included in retained earnings, each as computed in accordance with GAAP. There is no incentive compensation payable to our Manager pursuant to the management agreement. We recorded an expense for management fees of $13.7 million , $14.5 million and $17.2 million for the years ended December 31, 2017, 2016 and 2015 , respectively, of which $1.0 million and $1.1 million are included in accounts payable and other accrued liabilities on the consolidated balance sheets as of December 31, 2017 and 2016 , respectively. In addition, we reimburse our Manager for expenses directly related to our operations, excluding employment-related expenses of our Manager. We recorded expense reimbursements to our Manager of $2.0 million , $2.4 million and $2.1 million for the years ended December 31, 2017, 2016 and 2015 , respectively, of which $0.1 million and $0.6 million is included in accounts payable and other accrued liabilities on the consolidated balance sheet as of December 31, 2017 and 2016 , respectively, consisting mostly of information technology system expenses. As of December 31, 2017 , the parent company of our Manager, held 1.6 million shares of our common stock.

Income Taxes (Notes)

Income Taxes (Notes)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The following table summarizes dividends declared during the three years ended December 31, 2017 and their related tax characterization. Tax Characterization of Dividends Year Dividends Declared Per Share Dividends Declared Ordinary Income Per Share Qualified Dividends Capital Gains Per Share 8.125% Series A Cumulative Redeemable Preferred Stock Dividends 2017 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — 2016 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — 2015 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — Common Stock Dividends 2017 $ 1.850000 $ 84,726 $ 1.850000 $ — $ — 2016 $ 1.600000 $ 73,261 $ 1.600000 $ — $ — 2015 $ 1.800000 $ 90,232 $ 1.800000 $ — $ — We have distributed all of our 2017 taxable income within the allowable time frame, including the available spill-back provision, so that we will not be subject to Federal or state corporate income tax. We do not currently expect to incur any excise tax liability for the year ended December 31, 2017. Based on our analysis of any potential uncertain income tax positions, we concluded that we do not have any uncertain tax positions that meet the recognition or measurement criteria as of December 31, 2017 and 2016. Our tax returns for tax years since 2014 are open to examination by the Internal Revenue Service (“IRS”). RCS is taxable as a corporation under Subchapter C of the Internal Revenue Code, with which we filed a joint TRS election. As of December 31, 2017 , RCS had Federal net operating loss (“NOL”) carryforwards of approximately $118 million , which can be carried forward for up to twenty years. The utilization of approximately $50 million of the NOL is subject to limitations imposed by the Internal Revenue Code. RCS sold its MSR holdings during the first quarter of 2017 and incurred approximately $14 million of capital loss, which can be carried forward for up to five years. The Tax Cuts and Jobs Act (“TCJA”) signed into law during the fourth quarter of 2017 reduces the Corporate tax rate to 21% for tax years starting after December 31, 2017. As of December 31, 2017, RCS’s gross deferred tax assets associated with the NOL and temporary differences other than the AMT credit carryforward, as reevaluated based on the new corporate tax rate and estimated state effective rate, were approximately $31 million , with respect to which RCS has provided a full valuation allowance. The valuation allowance previously provided on the AMT credit carryforward has been released due to the repeal of corporate AMT tax and the credit refund mechanism provided by TCJA. As a result, a deferred tax benefit of $0.6 million has been recorded in the consolidated statements of operations, and a corresponding income tax receivable is included in other assets on the consolidated balance sheets as of December 31, 2017.

Stockholder's Equity (Notes)

Stockholder's Equity (Notes)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholders’ Equity Redeemable Preferred Stock Pursuant to our charter, we are authorized to designate and issue up to 50.0 million shares of preferred stock in one or more classes or series. Our Board of Directors has designated 2.3 million shares as 8.125% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”). As of December 31, 2017 , we had 47.8 million of authorized but unissued shares of preferred stock. Shares of our Series A Preferred Stock are redeemable at $25.00 per share plus accumulated and unpaid dividends (whether or not declared) exclusively at our option commencing on May 22, 2019, or earlier under certain circumstances intended to preserve our qualification as a REIT for Federal income tax purposes. Dividends are payable quarterly in arrears on the 15th day of each January, April, July and October. As of December 31, 2017 , we had declared all required quarterly dividends on the Series A Preferred Stock. Our Board of Directors may designate additional series of authorized preferred stock ranking junior to or in parity with the Series A Preferred Stock or designate additional shares of the Series A Preferred Stock and authorize the issuance of such shares. Our Series A Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption. Common Stock Repurchase Program Our Board of Directors adopted a stock repurchase plan pursuant to which the Company is authorized to repurchase up to $100 million of its outstanding shares of common stock through December 31, 2018 . The Company may repurchase shares in the open market or privately negotiated transactions or pursuant to a trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended. The Company intends to repurchase shares under the stock repurchase plan only when the repurchase price is less than its estimate of its then current net asset value per common share. The total amount of $100 million remains authorized and available for common stock repurchases as of December 31, 2017 . Shares of our common stock may be purchased in the open market, including through block purchases, or through privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The timing, manner, price and amount of any repurchases will be determined at our discretion and the program may be suspended, terminated or modified at any time for any reason. Long-Term Incentive Plan The Company sponsors the American Capital Mortgage Investment Corp. Amended and Restated Equity Incentive Plan (“Incentive Plan” or “plan”), as amended March 4, 2016, to provide for the issuance of equity-based awards, including stock options, restricted stock, restricted stock units (“RSU”) and unrestricted stock to our independent directors. During 2017, 2016 and 2015, we granted restricted stock unit (“RSU”) awards under the plan to our independent directors totaling $0.3 million , $0.4 million and $0.4 million , respectively. The awards represent the right to receive an equivalent number of shares of common stock as measured by the closing price of our common stock on the grant date, plus any equivalent shares for dividends declared on our common stock, and vest over a 13 month period, subject to the terms and conditions of the plan. We did not issue any shares of common stock related to the vesting of RSU awards during the year ended December 31, 2017 , as any awards vested during the period were deferred to future periods. We issued 38,314 shares of common stock to our independent directors related to the vesting of RSU awards during the year ended December 31, 2016. We have made no awards under the plan to our officers or the officers or employees of our Manager, and we no longer intend to issue RSUs to RCS employees. During 2014, we granted RSU awards under the plan to certain members of RCS management totaling $5.4 million in aggregate value. In connection with the sale of all of its subservicing assets in the first quarter of 2016, we issued 136,979 shares of common stock related to the vesting of RSU awards during the year ended December 31, 2016. All remaining unvested RSU common stock equivalents issued to RCS employees were forfeited in the first quarter of 2016. The following table summarizes restricted stock and RSU transactions during the three years ended December 31, 2017 : Unvested Balance: Total Restricted Stock Units Weighted Average Grant Date Fair Value Weighted Average Vest Date Fair Value December 31, 2014 271,580 $ 20.00 $ — Granted 20,730 $ 18.09 $ — Accrued RSU dividend equivalents 6,113 $ — $ — Vested (52,986 ) $ 20.02 $ 16.46 December 31, 2015 245,437 $ 21.61 $ — Granted 25,050 $ 14.97 $ — Accrued RSU dividend equivalents 1,796 $ — $ — Vested (175,293 ) $ 19.36 $ 14.20 Forfeited (86,484 ) $ 19.93 N/A December 31, 2016 10,506 $ 19.17 $ — Granted 16,620 $ 18.05 $ — Accrued RSU dividend equivalents 1,852 $ — $ — Vested (11,563 ) $ 14.97 $ 17.94 December 31, 2017 17,415 $ 17.43 $ — During the years ended December 31, 2017, 2016 and 2015 , we recognized $0.2 million , $2.1 million and $1.6 million of compensation expense under the plan, respectively. As of December 31, 2017 , we had unrecognized compensation costs related to awards granted under the plan of approximately $0.1 million . As of December 31, 2017 , we had 862,277 shares of common stock reserved for future issuance under our long-term incentive plan. Net Income per Common Share Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Any shares subject to performance conditions that would not be issuable at period end, if that were the end of the contingency period, have been excluded from diluted net income per common share. Net income used in the numerator to calculate both basic and diluted EPS is the same. The number of shares used in the denominator of the calculation for basic and diluted EPS is different by an amount equal to the dilutive effect of stock awards issued to employees and directors. At-the-Market Offering Program During August 2017, we entered into agreements with sales agents to publicly offer and sell shares of our common stock in privately negotiated and/or at-the-market transactions from time-to-time up to an aggregate amount of $125 million of shares of our common stock. As of December 31, 2017 , we have not issued any shares under this program.

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Notes)	12 Months Ended
	Dec. 31, 2017
Quarterly Results (Unaudited) [Abstract]
Quarterly Financial Information [Text Block]	Quarterly Results (Unaudited) The following is a presentation of the quarterly results of operations for the year ended December 31, 2017 (in thousands, except per share data). For the Three Months Ended December 31, 2017 September 30, 2017 June 30, 2017 March 31, 2017 Interest income $ 38,167 $ 35,991 $ 35,733 $ 33,757 Interest expense (15,570 ) (14,447 ) (12,344 ) (10,165 ) Net interest income 22,597 21,544 23,389 23,592 Net servicing income (loss) 91 (1,161 ) (1,840 ) (2,427 ) Net healthcare investment income 1,850 1,969 1,381 662 Total other gains, net 10,063 32,923 25,103 22,069 Total expenses (5,088 ) (5,425 ) (5,421 ) (5,095 ) Income before income tax 29,513 49,850 42,612 38,801 Benefit from income tax 550 — — — Net income 30,063 49,850 42,612 38,801 Dividend on preferred stock (1,117 ) (1,117 ) (1,117 ) (1,117 ) Noncontrolling interest in net (income) loss 4 — 7 (2 ) Net income available to common shareholders $ 28,950 $ 48,733 $ 41,502 $ 37,682 Net income per common share — basic and diluted $ 0.63 $ 1.06 $ 0.91 $ 0.82 Weighted average common shares — basic 45,809 45,809 45,803 45,798 Weighted average common shares — diluted 45,818 45,814 45,804 45,806 Dividends declared per common share $ 0.50 $ 0.45 $ 0.45 $ 0.45 The following is a presentation of the quarterly results of operations for the year ended December 31, 2016 (in thousands, except per share data). For the Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 Interest income $ 39,453 $ 35,591 $ 35,454 $ 37,272 Interest expense (10,144 ) (10,082 ) (9,576 ) (9,780 ) Net interest income 29,309 25,509 25,878 27,492 Net servicing loss (1,161 ) (2,490 ) (5,783 ) (8,256 ) Net healthcare investment income (loss) 498 350 (189 ) — Total other gains (losses), net (68,411 ) 51,004 27,931 (34,368 ) Total expenses (5,161 ) (5,319 ) (7,430 ) (5,857 ) Income (loss) before income tax (44,926 ) 69,054 40,407 (20,989 ) Benefit from (provision for) income tax, net 745 (31 ) (281 ) (308 ) Net income (loss) (44,181 ) 69,023 40,126 (21,297 ) Dividend on preferred stock (1,117 ) (1,117 ) (1,117 ) (1,117 ) Noncontrolling interest in net (income) loss (3 ) (5 ) 6 — Net income (loss) available to common shareholders $ (45,301 ) $ 67,901 $ 39,015 $ (22,414 ) Net income (loss) per common share — basic and diluted $ (0.99 ) $ 1.48 $ 0.85 $ (0.48 ) Weighted average common shares — basic 45,798 45,798 45,777 46,651 Weighted average common shares — diluted 45,803 45,801 45,778 46,666 Dividends declared per common share $ 0.40 $ 0.40 $ 0.40 $ 0.40

(Policies)

(Policies)	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Consolidation The consolidated financial statements of the Company are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Our consolidated financial statements include the accounts of all subsidiaries. Significant intercompany accounts and transactions have been eliminated.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates.
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents consist of unrestricted demand deposits and highly liquid investments with original maturities of three months or less. Cash and cash equivalents are carried at cost, which approximates fair value.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash and Cash Equivalents Restricted cash includes cash pledged as collateral for clearing and executing trades, derivatives and repurchase agreements and cash reserves for capital improvements on our healthcare real estate investments. Restricted cash is carried at cost, which approximates fair value.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Assets We have elected the option to account for all of our financial assets, including all mortgage-related investments, at estimated fair value, with changes in fair value reflected in income during the period in which they occur. In management's view, this election more appropriately reflects the results of our operations for a particular reporting period, as financial asset fair value changes are presented in a manner consistent with the presentation and timing of the fair value changes of hedging instruments. See Note 9 - Fair Value Measurements.
Revenue Recognition, Policy [Policy Text Block]	Interest Income Interest income is accrued based on the outstanding principal amount of the securities and their contractual terms. Premiums or discounts associated with the purchase of agency RMBS and non-agency securities of high credit quality are amortized or accreted into interest income, respectively, over the projected lives of the securities, including contractual payments and estimated prepayments, using the effective interest method. We estimate long-term prepayment speeds using a third-party service and market data. Actual and anticipated prepayment experience is reviewed at least quarterly and effective yields are recalculated when differences arise between the previously estimated future prepayments and the amounts received plus currently anticipated future prepayments. If the actual and anticipated future prepayment experience differs from our prior estimate of prepayments, we are required to record an adjustment in the current period to the amortization or accretion of premiums and discounts for the cumulative difference in the effective yield through the reporting date. At the time we purchase non-agency securities that are not of high credit quality, we determine an effective yield based on our estimate of the timing and amount of future cash flows and our cost basis. Our initial cash flow estimates for these investments are based on our observations of current information and events and include assumptions related to interest rates, prepayment rates and the impact of default and severity rates on the timing and amount of credit losses. On at least a quarterly basis, we review the estimated cash flows and make appropriate adjustments, based on inputs and analysis received from external sources, internal models, and our judgment about interest rates, prepayment rates, the timing and amount of credit losses, and other factors. Any resulting changes in effective yield are recognized prospectively based on the current amortized cost of the investment as adjusted for credit impairment, if any.
Property, Plant and Equipment, Policy [Policy Text Block]	Real Property Owned Tangible assets primarily consist of land, buildings and furniture, fixtures and equipment. Depreciable tangible assets are depreciated on a straight-line basis over their estimated useful lives, which can range from 3 years for furniture, fixtures and equipment to 40 years for buildings. On January 1, 2017 the Company adopted Accounting Standards Update (“ASU”) No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”) which provides a framework to determine whether a transaction involves an asset, or a group of assets, or a business. ASU 2017-01 states that when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the transaction should not be considered a business combination. The ASU also clarifies the requirements for a set of activities to be considered a business and narrows the definition of outputs that would lead to business combination accounting treatment. As a result of these changes, the Company expects that a majority of its future real estate acquisitions and dispositions will be deemed asset transactions rather than business combinations. For asset acquisitions subsequent to January 1, 2017, the Company records identifiable assets acquired, liabilities assumed and any associated noncontrolling interests at cost on a relative fair value basis, with no goodwill recognized and third-party transaction costs capitalized. The net book value of long-lived assets is reviewed quarterly on a property by property basis to determine if facts and circumstances suggest that the assets may be impaired or that depreciable lives may need to be changed. We consider external factors relating to each asset and the existence of a master lease that may link the cash flows of an individual asset to a larger portfolio of assets leased to the same tenant. If these factors and the projected undiscounted cash flows of the asset over the remaining depreciation period indicate that the asset will not be recoverable, the carrying value is reduced to the estimated fair market value. In addition, we are exposed to the risks inherent in investments in real estate and, in particular, the senior housing and healthcare industries. A downturn in these industries or in the real estate markets in which our properties are located could adversely affect the value of our properties and our ability to sell properties for a price or terms acceptable to us.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible assets can include goodwill and identifiable intangible assets such as above or below market component of in-place leases and the value associated with the presence of in-place tenants or residents. Goodwill is calculated as the excess of consideration transferred over the estimated fair value of net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill and intangible assets are included in other assets on the consolidated balance sheets and tested for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired.
Revenue Recognition Leases, Operating [Policy Text Block]	Healthcare Real Estate Income Healthcare real estate income consists primarily of lease and rental income. For operating leases with minimum scheduled rent increases, the Company recognizes income on a straight line basis over the lease term when collectability is reasonably assured. Recognizing lease income on a straight line basis results in a difference in the timing of revenue amounts from what is contractually due. If the Company determines that collectability of straight line lease income is not reasonably assured, future revenue recognition is limited to amounts contractually owed and paid, and, when appropriate, an allowance for estimated losses is established. Resident rental income is recorded when services are rendered and includes resident room and care charges, community fees and other resident charges. Residency agreements are generally for a term of 30 days to one year, with resident fees billed monthly. Revenue for certain care-related services is recognized as the services are provided.
Noncontrolling Interest [Policy Text Block]	Noncontrolling Interests Arrangements with noncontrolling interest holders are reported as a component of equity separate from the Company’s stockholders' equity, recorded at the initial carrying amount, and increased or decreased for the noncontrolling interest’s share of net income or loss. Net income attributable to a noncontrolling interest is included in net income on the consolidated statements of operations.
Debt, Policy [Policy Text Block]	Deferred Loan Expenses We amortize deferred financing costs, which are reported within notes payable, net of deferred financing costs on our consolidated balance sheets, as a component of interest expense of the debt over the terms of the related borrowings using a method that approximates a level yield.
Repurchase Agreements, Valuation, Policy [Policy Text Block]	Repurchase Agreements We finance the acquisition of agency RMBS and non-agency securities through repurchase transactions under master repurchase agreements. We account for repurchase transactions as collateralized financing transactions which are carried at their contractual amounts, including accrued interest, as specified in the respective transaction agreements. The contractual amounts approximate fair value due to their short-term maturities or floating rate coupons.
Repurchase and Resale Agreements Policy [Policy Text Block]	Reverse Repurchase Agreements and Obligation to Return Securities Borrowed under Reverse Repurchase Agreements We borrow securities to cover short sales of U.S. Treasury securities through reverse repurchase transactions under our master repurchase agreements (see Derivatives below). We account for these as securities borrowing transactions and recognize an obligation to return the borrowed securities at fair value on the consolidated balance sheets based on the value of the underlying borrowed securities as of the reporting date. The fair value of our reverse repurchase agreements is assumed to equal cost as they generally mature daily or have interest rates that are reset daily.
Management and Investment Advisory Fees, Policy [Policy Text Block]	Manager Compensation The management agreement provides for the payment to our Manager of a management fee and reimbursement of certain operating expenses, which are accrued and expensed during the period for which they are earned or incurred. Refer to Note 13 for disclosure on the terms of the management agreement.
Derivatives, Policy [Policy Text Block]	Derivatives We utilize a risk management strategy, under which we may use a variety of derivative instruments to mitigate our exposure to market risks, including interest rate risk, prepayment risk, extension risk and credit risk. The objective of our risk management strategy is to reduce fluctuations in net asset value over a range of market conditions. The principal instruments that we currently use are interest rate swaps and options to enter into interest rate swaps (“interest rate swaptions”). We also utilize forward contracts for the purchase or sale of agency RMBS, or to-be-announced forward (“TBA”) contracts, and short sales of U.S. Treasury securities and U.S. Treasury futures contracts. We may also purchase or sell options on TBA securities and utilize other types of derivative instruments. We also enter into TBA contracts as a means of investing in and financing agency RMBS (thereby increasing our “at risk” leverage) or as a means of disposing of or reducing our exposure to agency RMBS (thereby reducing our “at risk” leverage). Pursuant to TBA contracts, we agree to purchase or sell, for future delivery, agency RMBS with certain principal and interest terms and certain types of collateral, but the particular agency RMBS to be delivered are not identified until shortly before the TBA settlement date. We may also choose, prior to settlement, to move the settlement of these securities out to a later date by entering into an offsetting short or long position (referred to as a “pair off”), net settling the paired off positions for cash, and simultaneously purchasing or selling a similar TBA contract for a later settlement date. This transaction is commonly referred to as a “dollar roll.” The agency RMBS purchased or sold for a forward settlement date are typically priced at a discount to agency RMBS for settlement in the current month. This difference (or discount) is referred to as the “price drop.” The price drop is the economic equivalent of net interest carry income on the underlying agency RMBS over the roll period (interest income less implied financing cost) and is commonly referred to as “dollar roll income (loss).” Consequently, forward purchases of agency RMBS and dollar roll transactions represent a form of off-balance sheet financing. We present all derivative instruments as either assets or liabilities at fair value on our consolidated balance sheets and report all changes in fair value in earnings in our consolidated statements of operations in unrealized gain (loss) on other derivatives and securities, net during the period in which they occur. Derivatives in a gain position are reported as derivative assets at fair value and derivatives in a loss position are reported as derivative liabilities at fair value in our consolidated balance sheets. Cash receipts and payments related to derivative instruments are classified in our consolidated statements of cash flows according to the underlying nature or purpose of the derivative transaction, generally in the investing section. Our derivative agreements generally contain provisions that allow for netting or setting off derivative assets and liabilities with each counterparty; however, we report related assets and liabilities on a gross basis in our consolidated balance sheets. The use of derivative instruments creates exposure to credit risk relating to potential losses that could be recognized in the event counterparties to these instruments fail to perform their obligations under the contracts. Our derivative agreements require that we post or receive collateral based on daily market value changes. We also attempt to minimize our risk of loss by limiting our counterparties to major financial institutions with acceptable credit ratings, monitoring positions with individual counterparties and adjusting posted collateral as required. Interest rate swap agreements We use interest rate swaps to hedge the variable cash flows associated with short-term borrowings made under our repurchase agreement and other financing facilities. Under our interest rate swap agreements, we typically pay a fixed rate and receive a floating rate based on one, three or six-month LIBOR (“payer swaps”) with terms up to 15 years. The floating rate we receive under our swap agreements has the effect of offsetting the repricing characteristics of our repurchase agreements and cash flows on such liabilities. Our swap agreements are privately negotiated in the over-the-counter (“OTC”) market. Swap agreements entered into subsequent to May 2013 are centrally cleared through the Chicago Mercantile Exchange (“CME”), a registered commodities exchange. We estimate the fair value of our centrally cleared interest rate swaps using the daily settlement price determined by the respective exchange. Centrally cleared swaps are valued by the exchange using a pricing model that references observable market inputs, including LIBOR, swap rates and the forward yield curve, to produce the daily settlement price. Our centrally cleared swaps require that we post an “initial margin” to our counterparties for an amount determined by the CME, which is generally intended to be set at a level sufficient to protect the CME from the maximum estimated single-day price movement in that market participant’s contracts. We also exchange cash “variation margin” with our counterparties on our centrally cleared swaps based upon daily changes in the fair value as measured by the CME. Beginning in the first quarter of 2017, as a result of a CME amendment to its rule book governing central clearing activities, the daily exchange of variation margin associated with a CME centrally cleared derivative instrument is legally characterized as the daily settlement of the derivative instrument itself, as opposed to a pledge of collateral. Accordingly, beginning in 2017, we account for the daily receipt or payment of variation margin associated with our centrally cleared interest rate swaps as a direct reduction to the carrying value of the interest rate swap derivative asset or liability, respectively. Beginning in 2017, the carrying amount of centrally cleared interest rate swaps reflected in our consolidated balance sheets is equal to the unsettled fair value of such instruments. We estimate the fair value of our “non-centrally cleared” interest rate swaps based on valuations obtained from third-party pricing services and the swap counterparty (collectively, “third-party valuations”). The third-party valuations are model-driven using observable inputs, including LIBOR, swap rates and the forward yield curve. We also consider the creditworthiness of both us and our counterparties and the impact of netting and credit enhancement provisions contained in each derivative agreement, such as collateral postings. All of our “non-centrally cleared” interest rate swaps are subject to bilateral collateral arrangements. Consequently, no credit valuation adjustment was made in determining the fair value of such instruments. The payment of periodic settlements of net interest on interest rate swaps is reported in realized loss on periodic settlements of interest rate swaps, net in our consolidated statements of operations. Cash payments received or paid for the early termination of an interest rate swap agreement are recorded as realized loss on other derivatives and securities, net in our consolidated statements of operations. Changes in fair value of our interest rate swap agreements are reported in unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. Interest rate swaptions We purchase interest rate swaptions to help mitigate the potential impact of larger, more rapid changes in interest rates on the performance of our investment portfolio. The interest rate swaptions provide us the option to enter into an interest rate swap agreement for a predetermined notional amount, stated term and pay or receive interest rates in the future. The premium paid for interest rate swaptions is reported as a derivative asset in our consolidated balance sheets. We estimate the fair value of interest rate swaptions based on the fair value of the future interest rate swap that we have the option to enter into as well as the remaining length of time that we have to exercise the option. The difference between the premium and the fair value of the swaption is reported in unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. If a swaption expires unexercised, the realized loss on the swaption would be equal to the premium paid and reported in realized loss on other derivatives and securities, net in our consolidated statements of operations. If we exercise a swaption, the realized gain or loss on the swaption would be equal to the difference between the fair value of the underlying interest rate swap and the premium paid and reported in realized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. Interest rate swaption agreements are privately negotiated in the OTC market and are not subject to central clearing. We estimate the fair value of our interest rate swaption agreements based on model-driven valuations obtained from third-party pricing services and the swaption counterparty. These estimates incorporate observable inputs and include the fair value of the future interest rate swaps that we have the option to enter into, as well as the remaining length of time that we have to exercise the options, adjusted for non-performance risk, if any. TBA securities TBA securities are forward contracts for the purchase (“long position”) or sale (“short position”) of agency RMBS at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date. The specific agency RMBS delivered into the contract upon the settlement date, published each month by the Securities Industry and Financial Markets Association, are not known at the time of the transaction. We may enter into TBA contracts as a means of hedging against short-term changes in interest rates. We may also enter into TBA dollar roll transactions to finance agency RMBS purchases. We account for all TBA contracts as derivatives since we cannot assert that it is probable at the inception and throughout the term of the contract that it will not settle net and will result in physical delivery of an agency security when it is issued. A TBA dollar roll transaction is a series of derivative transactions. The net settlement of a TBA contract is reported as realized gain (loss) on other derivatives and securities, net and changes in the fair value of our TBA contracts are reported as unrealized gain (loss) on other derivatives and securities, net in our consolidated statements of operations. We estimate the fair value of TBA securities based on similar methods used to value our agency RMBS. U.S. Treasury securities We purchase or sell short U.S. Treasury securities and U.S. Treasury futures contracts to help mitigate the potential impact of changes in interest rates on the performance of our portfolio. Realized gains and losses associated with purchases and short sales of U.S. Treasury securities and U.S. Treasury futures contracts are recognized in realized gain (loss) on other derivatives and securities, net, and unrealized gains and losses are recognized in unrealized gain (loss) on other derivatives and securities, net on our consolidated statements of operations.
Income Tax, Policy [Policy Text Block]	Income Taxes We elected to be taxed as a REIT under the provisions of the Internal Revenue Code and the corresponding provisions of state law. In order to qualify as a REIT, we must annually distribute, in a timely manner to our stockholders, at least 90% of our taxable ordinary income. A REIT is generally not subject to U.S. federal and state corporate income tax on its earnings to the extent that it distributes its annual taxable income to its stockholders and as long as certain asset, income and stock ownership tests are met. We operate in a manner that will allow us to be taxed as a REIT. As permitted by the Internal Revenue Code, a REIT can designate dividends paid in the subsequent year as dividends of the current year if those dividends are both declared by the extended due date of the REIT's Federal income tax return and paid to stockholders by the last day of the subsequent year, however, we may still be subject to a non-deductible 4% excise tax if the actual amount distributed to our stockholders in a calendar year is less than the minimum amount specified under federal tax laws. We and certain of our domestic subsidiaries have made joint elections to treat the subsidiaries as taxable REIT subsidiaries (“TRS”). As such, these subsidiaries are subject to U.S. federal and state corporate income tax. During December of 2017, the Tax Cuts and Jobs Act (“TCJA”) was signed into law. The TCJA includes sweeping changes to the U.S. tax system starting in fiscal year 2018, including a reduction of the maximum Federal corporate tax rate to 21% from 35% and a lower effective pass-through business income tax rate through the creation of a new deduction for individuals, estates, and trusts of 20 percent of their combined qualified business income amount and REIT ordinary dividend distributions received. Since we typically distribute all our annual taxable income and, as such, do not pay corporate income taxes, we do not expect the TCJA to have a significant impact now or in the future on our consolidated financial statements. We evaluate uncertain income tax positions, if any, in accordance with ASC Topic 740, Income Taxes . To the extent we incur interest and/or penalties in connection with our tax obligations, such amounts shall be classified as income tax expense on our consolidated statements of operations.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements We consider the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board. ASUs not listed below were determined to be either not applicable, are not expected to have a significant impact on our consolidated financial statements when adopted, or did not have a significant impact on our consolidated financial statements upon adoption. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, which is a comprehensive revenue recognition standard that supersedes virtually all existing revenue guidance under U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue recognition with respect to financial instruments and leases is not within the scope of ASU 2014-09. ASU 2014-09 is effective for the Company on January 1, 2018 and our review of each of our revenue streams indicates that it will not have a significant impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02 which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016-02 is effective for the Company on January 1, 2019 and is not expected to have a significant impact on our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15 which addresses several classification issues related to the statement of cash flow, including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, and contingent consideration payments made after a business combination. ASU 2016-15 is effective for the Company on January 1, 2018 and is not expected to have a significant impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18 which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for the Company on January 1, 2018 and is not expected to have a significant impact on our consolidated financial statements.

Agency Securities (Tables)

Agency Securities (Tables)	12 Months Ended
	Dec. 31, 2017
Agency Securities [Abstract]
Agency Securities [Table Text Block]	The following tables summarize our investments in agency RMBS as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fannie Mae Freddie Mac Total Agency RMBS: Par value $ 2,485,055 $ 1,117,551 $ 3,602,606 Unamortized premium 127,008 63,466 190,474 Amortized cost 2,612,063 1,181,017 3,793,080 Gross unrealized gains 3,876 1,149 5,025 Gross unrealized losses (28,364 ) (11,560 ) (39,924 ) Agency RMBS, at fair value $ 2,587,575 $ 1,170,606 $ 3,758,181 Weighted average coupon as of December 31, 2017 3.63 % 3.75 % 3.67 % Weighted average yield as of December 31, 2017 2.78 % 2.89 % 2.82 % Weighted average yield for the year ended December 31, 2017 2.67 % 2.69 % 2.68 % December 31, 2017 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Agency RMBS: Fixed rate $ 3,717,285 $ 3,707 $ (39,924 ) $ 3,681,068 Adjustable rate 75,795 1,318 — 77,113 Total Agency RMBS $ 3,793,080 $ 5,025 $ (39,924 ) $ 3,758,181 December 31, 2016 Fannie Mae Freddie Mac Total Agency RMBS: Par value $ 2,103,244 $ 600,640 $ 2,703,884 Unamortized premium 98,580 34,100 132,680 Amortized cost 2,201,824 634,740 2,836,564 Gross unrealized gains 6,350 1,887 8,237 Gross unrealized losses (30,657 ) (10,976 ) (41,633 ) Agency RMBS, at fair value $ 2,177,517 $ 625,651 $ 2,803,168 Weighted average coupon as of December 31, 2016 3.49 % 3.60 % 3.52 % Weighted average yield as of December 31, 2016 2.71 % 2.69 % 2.71 % Weighted average yield for the year ended December 31, 2016 2.56 % 2.60 % 2.57 % December 31, 2016 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Agency RMBS: Fixed rate $ 2,747,165 $ 6,003 $ (41,633 ) $ 2,711,535 Adjustable rate 89,399 2,234 — 91,633 Total Agency RMBS $ 2,836,564 $ 8,237 $ (41,633 ) $ 2,803,168
Summary Of Agency Securities Estimated Weighted Average Life Classifications Text Block	The following table summarizes our agency RMBS as of December 31, 2017 and 2016 according to their estimated weighted average life classification (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Estimated Weighted Fair Value Amortized Cost Yield Coupon Fair Value Amortized Cost Yield Coupon Less than or equal to three years $ 40,404 $ 40,815 2.06 % 3.92 % $ 10,061 $ 10,101 1.97 % 4.07 % Greater than three years and less than or equal to five years 534,299 535,608 2.38 % 3.19 % 602,705 600,979 2.32 % 3.24 % Greater than five years and less than or equal to 10 years 3,149,565 3,182,468 2.90 % 3.75 % 1,985,654 2,021,474 2.78 % 3.65 % Greater than 10 years 33,913 34,189 2.98 % 3.50 % 204,748 204,010 3.10 % 3.01 % Total $ 3,758,181 $ 3,793,080 2.82 % 3.67 % $ 2,803,168 $ 2,836,564 2.71 % 3.52 %
Schedule of Realized Gain (Loss) [Table Text Block]	The following table summarizes our net realized gains and losses from the sale of agency RMBS during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from agency securities sold $ 1,047,133 $ 1,374,242 $ 2,245,959 Less agency securities sold, at cost (1,047,376 ) (1,370,467 ) (2,248,749 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) Gross realized gains on sale of agency securities $ 4,013 $ 9,291 $ 10,867 Gross realized losses on sale of agency securities (4,256 ) (5,516 ) (13,657 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) The following table summarizes our net realized gains from the sale of non-agency securities during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from non-agency securities sold $ 577,678 $ 725,311 $ 440,075 Increase (decrease) in receivable for securities sold — (2,565 ) 2,565 Less: non-agency securities sold, at cost (544,863 ) (716,799 ) (436,967 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673 Gross realized gain on sale of non-agency securities $ 33,172 $ 12,129 $ 8,869 Gross realized loss on sale of non-agency securities (357 ) (6,182 ) (3,196 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	The following tables summarize our agency RMBS pledged as collateral under financing and derivative agreements by type as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fannie Mae Freddie Mac Total Fair Value of Agency Securities Pledged Under: Financing agreements $ 2,443,591 $ 1,137,587 $ 3,581,178 Derivative agreements 84 606 690 Total fair value 2,443,675 1,138,193 3,581,868 Accrued interest on pledged agency RMBS 7,132 3,399 10,531 Total Fair Value of Agency RMBS Pledged and Accrued Interest $ 2,450,807 $ 1,141,592 $ 3,592,399 December 31, 2016 Fannie Mae Freddie Mac Total Fair Value of Agency Securities Pledged Under: Financing agreements $ 2,095,706 $ 616,292 $ 2,711,998 Derivative agreements 605 671 1,276 Total fair value 2,096,311 616,963 2,713,274 Accrued interest on pledged agency RMBS 5,892 1,775 7,667 Total Fair Value of Agency RMBS Pledged and Accrued Interest $ 2,102,203 $ 618,738 $ 2,720,941
Schedules Of Securities Pledged As Collateral Under Repurchase Agreement [Text Block] [Table Text Block]	The following table summarizes our agency RMBS pledged as collateral under financings agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Cost Accrued Interest Fair Value Amortized Cost Accrued Interest 30 days or less $ 940,788 $ 949,282 $ 2,765 $ 672,749 $ 681,287 $ 1,887 31 - 59 days 1,298,331 1,311,882 3,818 1,061,202 1,074,283 3,030 60 - 90 days 261,823 262,908 785 496,562 500,517 1,363 Greater than 90 days 1,080,236 1,091,195 3,161 481,485 488,344 1,384 Total $ 3,581,178 $ 3,615,267 $ 10,529 $ 2,711,998 $ 2,744,431 $ 7,664 The following table summarizes our non-agency securities pledged as collateral under repurchase agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Accrued Interest Fair Value Amortized Accrued Interest 30 days or less $ 585,943 $ 517,750 $ 815 $ 859,046 $ 814,457 $ 1,142 31 - 59 days 97,537 82,105 145 109,057 103,483 83 60 - 90 days 59,798 58,651 135 51,731 49,043 136 Total $ 743,278 $ 658,506 $ 1,095 $ 1,019,834 $ 966,983 $ 1,361

Non-Agency Securities (Tables)

Non-Agency Securities (Tables)	12 Months Ended
	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Securities [Table Text Block]	The following tables summarize our non-agency securities as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Fair Value Gross Unrealized Amortized Cost Premium (Discount) Par/ Current Face Weighted Average Category Gains Losses Coupon (1) Yield Prime $ 143,329 $ 9,342 $ (12 ) $ 133,999 $ (13,893 ) $ 147,892 3.77 % 5.66 % CRT 322,819 18,346 — 304,473 16,011 288,462 5.34 % 5.23 % Alt-A 286,953 51,123 (774 ) 236,604 (112,305 ) 348,909 2.69 % 8.93 % Option-ARM 86,886 13,114 — 73,772 (21,044 ) 94,816 1.79 % 6.58 % Subprime 13,374 929 — 12,445 (683 ) 13,128 5.20 % 5.97 % CMBS 18,723 387 — 18,336 (164 ) 18,500 5.68 % 6.03 % Total $ 872,084 $ 93,241 $ (786 ) $ 779,629 $ (132,078 ) $ 911,707 3.73 % 6.59 % ———————— (1) Coupon rates are floating, except for $11.8 million , $0.9 million , $12.2 million , $13.4 million and $18.7 million fair value of fixed-rate prime, CRT, Alt-A, subprime and CMBS non-agency securities, respectively, as of December 31, 2017 . December 31, 2016 Fair Value Gross Unrealized Amortized Cost Premium (Discount) Par/ Current Face Weighted Average Category Gains Losses Coupon (1) Yield Prime $ 181,267 $ 5,945 $ (2,402 ) $ 177,724 $ (17,672 ) $ 195,396 3.18 % 5.61 % CRT 317,532 18,029 (1,012 ) 300,515 2,362 298,153 5.26 % 6.37 % Alt-A 345,586 33,702 (3,330 ) 315,214 (130,714 ) 445,928 2.05 % 7.58 % Option-ARM 180,169 8,075 (4,357 ) 176,451 (38,787 ) 215,238 1.00 % 5.64 % Subprime 92,195 781 (252 ) 91,666 (659 ) 92,325 4.05 % 4.38 % CMBS 17,720 — (73 ) 17,793 (207 ) 18,000 5.65 % 6.02 % Total $ 1,134,469 $ 66,532 $ (11,426 ) $ 1,079,363 $ (185,677 ) $ 1,265,040 3.00 % 6.31 % ———————— (1) Coupon rates are floating, except for $11.8 million , $22.3 million , $57.5 million and $17.7 million fair value of fixed-rate prime, Alt-A, subprime and CMBS non-agency securities, respectively, as of December 31, 2016 .
Schedule of Non-Agency Securities by Weighted Average Life [Table Text Block]	The following table summarizes our non-agency securities at fair value, by their estimated weighted average life classifications as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Estimated Weighted Average Life Fair Value Amortized Cost Coupon Yield Fair Value Amortized Cost Coupon Yield ≤ 5 years $ 302,797 $ 258,501 3.11 % 8.31 % $ 330,507 $ 322,535 3.20 % 5.75 % > 5 to ≤ 7 years 398,712 361,649 4.33 % 5.97 % 487,540 455,263 2.27 % 6.72 % > 7 years 170,575 159,479 3.61 % 5.18 % 316,422 301,565 4.10 % 6.28 % Total $ 872,084 $ 779,629 3.73 % 6.59 % $ 1,134,469 $ 1,079,363 3.00 % 6.31 %
Realized Gain (Loss) on Investments [Table Text Block]	The following table summarizes our net realized gains and losses from the sale of agency RMBS during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from agency securities sold $ 1,047,133 $ 1,374,242 $ 2,245,959 Less agency securities sold, at cost (1,047,376 ) (1,370,467 ) (2,248,749 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) Gross realized gains on sale of agency securities $ 4,013 $ 9,291 $ 10,867 Gross realized losses on sale of agency securities (4,256 ) (5,516 ) (13,657 ) Realized gain (loss) on agency securities, net $ (243 ) $ 3,775 $ (2,790 ) The following table summarizes our net realized gains from the sale of non-agency securities during the years ended December 31, 2017, 2016 and 2015 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Proceeds from non-agency securities sold $ 577,678 $ 725,311 $ 440,075 Increase (decrease) in receivable for securities sold — (2,565 ) 2,565 Less: non-agency securities sold, at cost (544,863 ) (716,799 ) (436,967 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673 Gross realized gain on sale of non-agency securities $ 33,172 $ 12,129 $ 8,869 Gross realized loss on sale of non-agency securities (357 ) (6,182 ) (3,196 ) Realized gain on non-agency securities, net $ 32,815 $ 5,947 $ 5,673
Schedules Of Securities Pledged As Collateral Under Repurchase Agreement [Text Block] [Table Text Block]	The following table summarizes our agency RMBS pledged as collateral under financings agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Cost Accrued Interest Fair Value Amortized Cost Accrued Interest 30 days or less $ 940,788 $ 949,282 $ 2,765 $ 672,749 $ 681,287 $ 1,887 31 - 59 days 1,298,331 1,311,882 3,818 1,061,202 1,074,283 3,030 60 - 90 days 261,823 262,908 785 496,562 500,517 1,363 Greater than 90 days 1,080,236 1,091,195 3,161 481,485 488,344 1,384 Total $ 3,581,178 $ 3,615,267 $ 10,529 $ 2,711,998 $ 2,744,431 $ 7,664 The following table summarizes our non-agency securities pledged as collateral under repurchase agreements, by remaining maturity, including securities pledged related to sold but not yet settled securities, as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Remaining Maturity Fair Value Amortized Accrued Interest Fair Value Amortized Accrued Interest 30 days or less $ 585,943 $ 517,750 $ 815 $ 859,046 $ 814,457 $ 1,142 31 - 59 days 97,537 82,105 145 109,057 103,483 83 60 - 90 days 59,798 58,651 135 51,731 49,043 136 Total $ 743,278 $ 658,506 $ 1,095 $ 1,019,834 $ 966,983 $ 1,361

Investments in Real Property (T

Investments in Real Property (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate Investments, Net [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table summarizes our real estate investments net of accumulated depreciation as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Buildings and improvements $ 233,407 $ 78,639 Furniture, fixtures and equipment 14,537 4,453 Less: accumulated depreciation (7,592 ) (1,312 ) Buildings, furniture, fixtures and equipment, net of accumulated depreciation 240,352 81,780 Land 16,641 5,646 Goodwill 5,840 5,840 Working capital (1) 18,994 9,602 Total real estate assets $ 281,827 $ 102,868
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	The following table presents the components of net income from our real property investments for the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Lease income $ 18,283 $ 3,626 Rental income 6,148 2,433 Healthcare real estate income 24,431 6,059 Interest expense 7,808 1,814 Depreciation 6,280 1,312 Transaction expenses — 890 Tenant expenses 4,235 1,384 Other 246 — Healthcare real estate expense 18,569 5,400 Net healthcare investment income $ 5,862 $ 659
Schedule of Long-term Debt Instruments [Table Text Block]	The following is a summary of our notes payable activity for the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 66,527 $ — Debt issued and assumed, net of deferred financing costs (1) 153,369 66,451 Amortization of deferred financing costs 971 258 Principal repayments (34,367 ) (182 ) Ending balance $ 186,500 $ 66,527 ———————— (1) Includes $76.0 million of notes payable assumed through acquisitions of our portfolio of skilled nursing facilities in Virginia.
Schedule of Minimum Lease Payments Receivable [Table Text Block]	At December 31, 2017 , future minimum lease payments receivable related to our healthcare and senior living facilities are as follows (dollars in thousands): December 31, 2017 2018 $ 20,345 2019 20,764 2020 21,191 2021 21,627 2022 22,073 Thereafter 193,233 Total $ 299,233

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Repurchase Agreements [Abstract]
Schedule of Debt [Table Text Block]	As of December 31, 2017 and 2016 , our borrowings under repurchase agreements had the following collateral characteristics (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Collateral Type Borrowings Interest Rate Days Borrowings Interest Rate Days Agency securities $ 3,307,662 1.54 % 114 $ 2,215,151 1.00 % 159 Non-agency securities 556,057 2.72 % 24 755,665 2.23 % 23 Total repurchase agreements $ 3,863,719 1.71 % 101 $ 2,970,816 1.31 % 125 The following table summarizes our borrowings under repurchase arrangements as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Weighted Average Weighted Average Borrowings Outstanding Interest Rate Days Borrowings Outstanding Interest Rate Days Agency and non-agency ≤ 1 month $ 1,341,712 1.91 % 17 $ 1,304,341 1.52 % 15 > 1 to ≤ 2 months 1,334,493 1.55 % 40 830,099 1.16 % 41 > 2 to ≤ 3 months 295,204 1.76 % 76 508,047 1.07 % 78 > 3 to ≤ 6 months 334,372 1.51 % 123 63,329 0.93 % 114 > 6 to ≤ 12 months 292,938 1.57 % 256 — N/A N/A > 12 months 265,000 1.80 % 658 265,000 1.32 % 1023 Total repurchase agreements $ 3,863,719 1.71 % 101 $ 2,970,816 1.31 % 125

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2017
Derivative [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The table below presents the balance sheet location and fair value information for our derivatives outstanding as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Derivative assets: Interest rate swaps $ 4,894 $ 26,766 Interest rate swaptions 6,728 1,467 TBA securities 3,090 815 Derivative assets, at fair value $ 14,712 $ 29,048 Derivative liabilities: Interest rate swaps $ — $ 4,475 TBA securities 1,339 19,304 Credit default swaps 3,115 4,041 Derivative liabilities, at fair value $ 4,454 $ 27,820
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	The following tables summarize the effect of our outstanding derivatives and other securities on our consolidated statements of operations during the three years ended December 31, 2017 (in thousands): For the Years Ended December 31, 2017 2016 2015 Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Realized Loss on Periodic Settlements of Interest Rate Swaps, net Realized Gain (Loss) on Other Derivatives and Securities, net Unrealized Gain (Loss) on Other Derivatives and Securities, net Interest rate swaps $ (7,317 ) $ 37,971 $ (19,939 ) $ (10,337 ) $ (80,762 ) $ 73,646 $ (16,437 ) $ (53,114 ) $ 9,662 Interest rate swaptions — (2,735 ) (656 ) — (1,307 ) 813 — (4,049 ) 156 TBA securities — 18,852 20,240 — (3,422 ) (19,295 ) — 22,727 (10,825 ) Short sales of U.S. Treasuries — (20,743 ) (3,310 ) — (14,303 ) 11,955 — (15,544 ) 1,757 Credit default swaps — (1,065 ) 232 — (1,461 ) (2,655 ) — 125 895 Other — 201 7 — 4,546 (1,075 ) — 3,954 411 Total $ (7,317 ) $ 32,481 $ (3,426 ) $ (10,337 ) $ (96,709 ) $ 63,389 $ (16,437 ) $ (45,901 ) $ 2,056
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following tables summarize changes in notional amounts for our outstanding derivatives and other securities during the three years ended December 31, 2017 (in thousands): December 31, 2016 Additions/ Long Positions Expirations/ Terminations/ Short Positions December 31, 2017 Interest rate swaps $ 2,975,000 1,145,000 (590,000 ) $ 3,530,000 Interest rate swaptions $ 150,000 375,000 (100,000 ) $ 425,000 TBA securities $ 886,042 26,028,309 (25,209,965 ) $ 1,704,386 U.S. Treasuries $ 21,000 35,000 (56,000 ) $ — Short sales of U.S. Treasuries $ (511,000 ) 1,426,000 (1,761,700 ) $ (846,700 ) Credit default swaps $ 49,000 — (1,000 ) $ 48,000 December 31, 2015 Additions/ Long Positions Expirations/ Terminations/ Short Positions December 31, 2016 Interest rate swaps $ 2,290,000 1,835,000 (1,150,000 ) $ 2,975,000 Interest rate swaptions $ 250,000 — (100,000 ) $ 150,000 TBA securities $ 59,878 16,995,682 (16,169,518 ) $ 886,042 U.S. Treasuries $ — 344,500 (323,500 ) $ 21,000 U.S. Treasury futures $ (350,000 ) 1,600,000 (1,250,000 ) $ — Short sales of U.S. Treasuries $ (269,000 ) 959,500 (1,201,500 ) $ (511,000 ) Mortgage options $ — 50,000 (50,000 ) $ — Interest only swaps $ 40,128 — (40,128 ) $ — Credit default swaps $ 49,500 — (500 ) $ 49,000 December 31, 2014 Additions/ Long Positions Expirations/ December 31, 2015 Interest rate swaps $ 4,015,000 275,000 (2,000,000 ) $ 2,290,000 Interest rate swaptions $ 550,000 100,000 (400,000 ) $ 250,000 TBA securities $ 296,172 28,149,744 (28,386,038 ) $ 59,878 U.S. Treasuries $ 756,500 3,772,750 (4,529,250 ) $ — U.S. Treasury futures $ (150,000 ) 800,000 (1,000,000 ) $ (350,000 ) Short sales of U.S. Treasuries $ (228,500 ) 1,698,200 (1,738,700 ) $ (269,000 ) Mortgage options $ — 50,000 (50,000 ) $ — Interest only swaps $ 48,739 — (8,611 ) $ 40,128 Credit default swaps $ — 99,500 (50,000 ) $ 49,500 Credit default options $ — 50,000 (50,000 ) $ —
Schedule Of Interest Rate Swap Agreement By Remaining Maturity [Table Text Block]	As of December 31, 2017 and 2016 , we had interest rate swap agreements summarized in the table below (dollars in thousands). December 31, 2017 December 31, 2016 Notional Weighted Average Notional Weighted Average Current Maturity Date (1) Fixed (2) Receive (3) Maturity (Years) Fixed (2) Receive (3) Maturity (Years) ≤ 3 years $ 1,500,000 1.26 % 1.46 % 1.3 $ 1,865,000 1.14 % 0.92 % 1.8 > 3 to ≤ 5 years 985,000 1.79 % 1.47 % 4.0 475,000 1.78 % 0.93 % 4.8 > 5 to ≤ 7 years 350,000 1.78 % 1.40 % 5.7 510,000 1.78 % 0.89 % 5.8 > 7 years 695,000 2.26 % 1.47 % 9.9 125,000 2.08 % 0.91 % 9.7 Total $ 3,530,000 1.65 % 1.46 % 4.2 $ 2,975,000 1.39 % 0.92 % 3.3 ———————— (1) Includes swaps with an aggregate notional of $0.4 billion and $0.2 billion with deferred start dates averaging 0.1 years and 0.2 years from December 31, 2017 and 2016 , respectively. (2) Excluding forward starting swaps, the weighted average pay rate was 1.58% and 1.35% as of December 31, 2017 and 2016 , respectively. (3) Weighted average receive rate excludes impact of forward starting interest rate swaps.
Schedule of Interest Rate Swaption Agreements Outstandin [Table Text Block]	The following tables present certain information about our interest rate swaption agreements as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 Option Underlying Swap Current Option Expiration Date Cost Fair Value Weighted Average Years to Expiration Notional Amount Pay Rate Weighted Average Term (Years) ≤ 12 months $ 2,111 $ 1,621 0.9 $ 175,000 2.71 % 8.6 >12 to ≤ 24 months 2,083 1,400 1.5 75,000 2.73 % 10.0 > 24 months 7,951 3,707 3.4 175,000 2.87 % 8.9 Total / weighted average $ 12,145 $ 6,728 2.0 $ 425,000 2.78 % 8.9 December 31, 2016 Option Underlying Swap Current Option Expiration Date Cost Fair Value Weighted Average Years to Expiration Notional Amount Pay Rate Weighted Average Term (Years) > 3 to ≤ 12 months $ 2,734 $ 340 0.9 $ 100,000 3.21 % 5.0 > 12 months 3,493 1,127 6.7 50,000 3.00 % 7.0 Total / weighted average $ 6,227 $ 1,467 2.8 $ 150,000 3.14 % 5.7
Schedule of Long and Short Position of Derivative Instruments [Table Text Block]	TBA Securities As of December 31, 2017 and 2016 , we had contracts to purchase (“long position”) and sell (“short position”) TBA securities on a forward basis, presented in the following table (in thousands): December 31, 2017 2016 Purchase and Sale Contracts for TBA Securities Notional Amount (1) Fair Value (2) Notional Amount (1) Fair Value (2) TBA assets: Purchase of TBA securities $ 1,386,416 $ 3,089 $ 410,300 $ 815 Sale of TBA securities (1,200 ) 1 (1,000 ) — Total TBA assets 1,385,216 3,090 409,300 815 TBA liabilities: Purchase of TBA securities 319,170 (1,339 ) 678,542 (18,636 ) Sale of TBA securities — — (201,800 ) (668 ) Total TBA liabilities 319,170 (1,339 ) 476,742 (19,304 ) Total net TBA $ 1,704,386 $ 1,751 $ 886,042 $ (18,489 ) ———————— (1) Notional amount represents the par value or principal balance of the underlying agency security. (2) Fair value represents the current market value of the agency RMBS underlying the TBA contract as of period end, less the forward price to be paid for the underlying agency RMBS.

Offsetting Assets and Liabili29

Offsetting Assets and Liabilities Offsetting Financial and Derivative Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Offsetting of Financial Assets and Derivative Assets [Abstract]
Offsetting Assets [Table Text Block]	Offsetting of Financial Assets and Derivative Assets: Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets Financial Instruments Collateral Received (1) Net Amount December 31, 2017 Interest rate swaps and swaptions (2) $ 11,622 $ — $ 11,622 $ — $ (5,642 ) $ 5,980 TBA 3,090 — 3,090 (1,339 ) — 1,751 Receivable under reverse repurchase agreements 843,130 — 843,130 (725,319 ) (117,811 ) — Total $ 857,842 $ — $ 857,842 $ (726,658 ) $ (123,453 ) $ 7,731 December 31, 2016 Interest rate swaps and swaptions (2) $ 28,233 $ — $ 28,233 $ (4,475 ) $ (9,165 ) $ 14,593 TBA 815 — 815 (815 ) — — Receivable under reverse repurchase agreements 487,469 — 487,469 (366,950 ) (120,519 ) — Total $ 516,517 $ — $ 516,517 $ (372,240 ) $ (129,684 ) $ 14,593
Offsetting Liabilities [Table Text Block]	Offsetting of Financial Liabilities and Derivative Liabilities: Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets Gross Amounts Not Offset in the Consolidated Balance Sheets Financial Instruments Collateral Pledged (1) Net Amount December 31, 2017 TBA 1,339 — 1,339 (1,339 ) — — Repurchase agreements 3,863,719 — 3,863,719 (725,319 ) (3,138,400 ) — Total $ 3,865,058 $ — $ 3,865,058 $ (726,658 ) $ (3,138,400 ) $ — December 31, 2016 Interest rate swaps (2) $ 4,475 $ — $ 4,475 $ (4,475 ) $ — $ — TBA 19,304 — 19,304 (815 ) (18,489 ) — Repurchase agreements 2,970,816 — 2,970,816 (366,950 ) (2,603,866 ) — FHLB advances 273,700 — 273,700 — (273,700 ) — Total $ 3,268,295 $ — $ 3,268,295 $ (372,240 ) $ (2,896,055 ) $ — ———————— (1) Includes cash and securities received / pledged as collateral, at fair value. Amounts presented are limited to collateral pledged sufficient to reduce the net amount to zero on a counterparty by counterparty basis, as applicable. Refer to Notes 3 and 4 for additional information regarding assets pledged. (2) Reported under derivative assets / liabilities, at fair value in the accompanying consolidated balance sheets. Refer to Note 7 for a reconciliation of derivative assets / liabilities, at fair value to their sub-components.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The following tables present our financial instruments carried at fair value as of December 31, 2017 and 2016 , on the consolidated balance sheets by the valuation hierarchy, as described above (in thousands): December 31, 2017 Level 1 Level 2 Level 3 Total Assets Agency securities $ — $ 3,758,181 $ — $ 3,758,181 Non-agency securities — 872,084 — 872,084 Derivative assets — 14,712 — 14,712 Total $ — $ 4,644,977 $ — $ 4,644,977 Liabilities Derivative liabilities $ — $ 4,454 $ — $ 4,454 Obligation to return securities borrowed under reverse repurchase agreements 830,776 — — 830,776 Total $ 830,776 $ 4,454 $ — $ 835,230 December 31, 2016 Level 1 Level 2 Level 3 Total Assets Agency securities $ — $ 2,803,168 $ — $ 2,803,168 Non-agency securities — 1,134,469 — 1,134,469 U.S. Treasury securities 20,209 — — 20,209 Derivative assets — 29,048 — 29,048 MSR assets — — 49,776 49,776 Total $ 20,209 $ 3,966,685 $ 49,776 $ 4,036,670 Liabilities Derivative liabilities $ — $ 27,820 $ — $ 27,820 Obligation to return securities borrowed under reverse repurchase agreements 474,935 — — 474,935 Total $ 474,935 $ 27,820 $ — $ 502,755
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table presents a summary of the changes in fair value for Level 3 purchased MSR assets carried at fair value for the years ended December 31, 2017 and 2016 (in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 49,776 $ 70,857 Losses included in net income: Realized losses (1) (1,089 ) (10,335 ) Unrealized losses — (10,746 ) Total net losses included in net income (1,089 ) (21,081 ) Dispositions (48,687 ) — Ending balance $ — $ 49,776 ———————— (1) Realized losses are comprised of realization of cash flows and are included in servicing expense on the consolidated statements of operations. Unrealized gains (losses) are included in unrealized gain (loss) on mortgage servicing rights on the consolidated statements of operations.

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2017
Servicing Assets at Fair Value [Line Items]
Schedule of Servicing Assets at Fair Value [Table Text Block]	The following table summarizes activity related to MSR accounted for as purchases during the years ended December 31, 2017 and 2016 (dollars in thousands): For the Years Ended December 31, 2017 2016 Beginning balance $ 49,776 $ 70,857 Reductions from sales of MSR (48,687 ) — Changes in fair value due to: Changes in valuation inputs or assumptions used in valuation model — (10,746 ) Other changes in fair value (1) (1,089 ) (10,335 ) Ending balance $ — $ 49,776 ———————— (1) Other changes in fair value primarily represents changes due to the realization of cash flows.
Other Income and Other Expense Disclosure [Text Block]	The following table presents the components of net servicing loss for the three years ended December 31, 2017 (dollars in thousands): For the Years Ended December 31, 2017 2016 2015 Servicing fee income $ 2,620 $ 17,836 $ 32,681 Incentive, ancillary and other income 169 3,472 15,957 Servicing income 2,789 21,308 48,638 Employee compensation and benefit costs 3,869 16,624 31,039 Facility costs 472 2,641 10,194 Realization of cash flows from MSR 1,089 10,335 10,033 Other servicing costs 2,696 9,398 14,739 Servicing expense 8,126 38,998 66,005 Net servicing loss $ (5,337 ) $ (17,690 ) $ (17,367 )

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Schedule of Other Assets [Table Text Block]	The following table summarizes our other assets as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Servicing advances $ 324 $ 9,151 FHLB membership stock — 11,489 Prepaid expenses 1,993 1,291 Accounts receivable 5,682 4,031 Goodwill 5,840 5,840 Other 9,403 7,376 Total other assets $ 23,242 $ 39,178

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Other Liabilities [Abstract]
Other Liabilities [Table Text Block]	The following table summarizes our accounts payable and other accrued liabilities as of December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 2016 Cash collateral held $ 5,642 $ 10,807 Due to manager 1,451 1,747 Accrued interest 12,547 6,590 Other accounts payable and accrued expenses 13,952 11,732 Total accounts payable and other accrued liabilities $ 33,592 $ 30,876

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Dividends Payable [Table Text Block]	The following table summarizes dividends declared during the three years ended December 31, 2017 and their related tax characterization. Tax Characterization of Dividends Year Dividends Declared Per Share Dividends Declared Ordinary Income Per Share Qualified Dividends Capital Gains Per Share 8.125% Series A Cumulative Redeemable Preferred Stock Dividends 2017 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — 2016 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — 2015 $ 2.031250 $ 4,468 $ 2.031250 $ — $ — Common Stock Dividends 2017 $ 1.850000 $ 84,726 $ 1.850000 $ — $ — 2016 $ 1.600000 $ 73,261 $ 1.600000 $ — $ — 2015 $ 1.800000 $ 90,232 $ 1.800000 $ — $ —

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Class of Stock [Line Items]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	The following table summarizes restricted stock and RSU transactions during the three years ended December 31, 2017 : Unvested Balance: Total Restricted Stock Units Weighted Average Grant Date Fair Value Weighted Average Vest Date Fair Value December 31, 2014 271,580 $ 20.00 $ — Granted 20,730 $ 18.09 $ — Accrued RSU dividend equivalents 6,113 $ — $ — Vested (52,986 ) $ 20.02 $ 16.46 December 31, 2015 245,437 $ 21.61 $ — Granted 25,050 $ 14.97 $ — Accrued RSU dividend equivalents 1,796 $ — $ — Vested (175,293 ) $ 19.36 $ 14.20 Forfeited (86,484 ) $ 19.93 N/A December 31, 2016 10,506 $ 19.17 $ — Granted 16,620 $ 18.05 $ — Accrued RSU dividend equivalents 1,852 $ — $ — Vested (11,563 ) $ 14.97 $ 17.94 December 31, 2017 17,415 $ 17.43 $ —

Quarterly Results (Unaudited)36

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Results (Unaudited) [Abstract]
Quarterly Financial Information [Table Text Block]	The following is a presentation of the quarterly results of operations for the year ended December 31, 2017 (in thousands, except per share data). For the Three Months Ended December 31, 2017 September 30, 2017 June 30, 2017 March 31, 2017 Interest income $ 38,167 $ 35,991 $ 35,733 $ 33,757 Interest expense (15,570 ) (14,447 ) (12,344 ) (10,165 ) Net interest income 22,597 21,544 23,389 23,592 Net servicing income (loss) 91 (1,161 ) (1,840 ) (2,427 ) Net healthcare investment income 1,850 1,969 1,381 662 Total other gains, net 10,063 32,923 25,103 22,069 Total expenses (5,088 ) (5,425 ) (5,421 ) (5,095 ) Income before income tax 29,513 49,850 42,612 38,801 Benefit from income tax 550 — — — Net income 30,063 49,850 42,612 38,801 Dividend on preferred stock (1,117 ) (1,117 ) (1,117 ) (1,117 ) Noncontrolling interest in net (income) loss 4 — 7 (2 ) Net income available to common shareholders $ 28,950 $ 48,733 $ 41,502 $ 37,682 Net income per common share — basic and diluted $ 0.63 $ 1.06 $ 0.91 $ 0.82 Weighted average common shares — basic 45,809 45,809 45,803 45,798 Weighted average common shares — diluted 45,818 45,814 45,804 45,806 Dividends declared per common share $ 0.50 $ 0.45 $ 0.45 $ 0.45 The following is a presentation of the quarterly results of operations for the year ended December 31, 2016 (in thousands, except per share data). For the Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 Interest income $ 39,453 $ 35,591 $ 35,454 $ 37,272 Interest expense (10,144 ) (10,082 ) (9,576 ) (9,780 ) Net interest income 29,309 25,509 25,878 27,492 Net servicing loss (1,161 ) (2,490 ) (5,783 ) (8,256 ) Net healthcare investment income (loss) 498 350 (189 ) — Total other gains (losses), net (68,411 ) 51,004 27,931 (34,368 ) Total expenses (5,161 ) (5,319 ) (7,430 ) (5,857 ) Income (loss) before income tax (44,926 ) 69,054 40,407 (20,989 ) Benefit from (provision for) income tax, net 745 (31 ) (281 ) (308 ) Net income (loss) (44,181 ) 69,023 40,126 (21,297 ) Dividend on preferred stock (1,117 ) (1,117 ) (1,117 ) (1,117 ) Noncontrolling interest in net (income) loss (3 ) (5 ) 6 — Net income (loss) available to common shareholders $ (45,301 ) $ 67,901 $ 39,015 $ (22,414 ) Net income (loss) per common share — basic and diluted $ (0.99 ) $ 1.48 $ 0.85 $ (0.48 ) Weighted average common shares — basic 45,798 45,798 45,777 46,651 Weighted average common shares — diluted 45,803 45,801 45,778 46,666 Dividends declared per common share $ 0.40 $ 0.40 $ 0.40 $ 0.40

Agency Securities Agency securi

Agency Securities Agency securities, at fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Agency Securities at Par	3,602,606	2,703,884
Agency Securities Unamortized Premium	190,474	132,680
Agency Securities Amortized Cost	3,793,080	2,836,564
Agency Securities, Gross Unrealized Gains	5,025	8,237
Agency Securities, Gross Unrealized Losses	(39,924)	(41,633)
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
Weighted Average Coupon Rate	3.67%	3.52%
Weighted Average Yield Percentage	2.82%	2.71%
Weighted Average Yield Percentage for Period	2.68%	2.57%
Agency Securities [Member] | Fixed Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Agency Securities Amortized Cost	$ 3,717,285	$ 2,747,165
Agency Securities, Gross Unrealized Gains	3,707	6,003
Agency Securities, Gross Unrealized Losses	(39,924)	(41,633)
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	3,681,068	2,711,535
Agency Securities [Member] | Adjustable Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Agency Securities Amortized Cost	75,795	89,399
Agency Securities, Gross Unrealized Gains	1,318	2,234
Agency Securities, Gross Unrealized Losses	0	0
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	77,113	91,633
Agency Securities [Member] | Fannie Mae [Member]
Schedule of Available-for-sale Securities [Line Items]
Agency Securities at Par	2,485,055	2,103,244
Agency Securities Unamortized Premium	127,008	98,580
Agency Securities Amortized Cost	2,612,063	2,201,824
Agency Securities, Gross Unrealized Gains	3,876	6,350
Agency Securities, Gross Unrealized Losses	(28,364)	(30,657)
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 2,587,575	$ 2,177,517
Weighted Average Coupon Rate	3.63%	3.49%
Weighted Average Yield Percentage	2.78%	2.71%
Weighted Average Yield Percentage for Period	2.67%	2.56%
Agency Securities [Member] | Freddie Mac [Member]
Schedule of Available-for-sale Securities [Line Items]
Agency Securities at Par	$ 1,117,551	$ 600,640
Agency Securities Unamortized Premium	63,466	34,100
Agency Securities Amortized Cost	1,181,017	634,740
Agency Securities, Gross Unrealized Gains	1,149	1,887
Agency Securities, Gross Unrealized Losses	(11,560)	(10,976)
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 1,170,606	$ 625,651
Weighted Average Coupon Rate	3.75%	3.60%
Weighted Average Yield Percentage	2.89%	2.69%
Weighted Average Yield Percentage for Period	2.69%	2.60%

Agency Securities Weighted Aver

Agency Securities Weighted Average Life of Agency Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
WeightedAverageLifeofAgencySecurities	7 years 6 months	7 years 5 months
Prepayment Rate Of Remaining Life Of Investment Portfolio	8.40%	8.10%
Agency Securities [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
Agency Securities Amortized Cost	$ 3,793,080	$ 2,836,564
Weighted Average Yield Percentage	2.82%	2.71%
Weighted Average Coupon Rate	3.67%	3.52%
Agency Securities [Member] | Less than Three Years [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 40,404	$ 10,061
Agency Securities Amortized Cost	$ 40,815	$ 10,101
Weighted Average Yield Percentage	2.06%	1.97%
Weighted Average Coupon Rate	3.92%	4.07%
Agency Securities [Member] | Greater Than Three Years and Less Than or Equal to Five Years [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 534,299	$ 602,705
Agency Securities Amortized Cost	$ 535,608	$ 600,979
Weighted Average Yield Percentage	2.38%	2.32%
Weighted Average Coupon Rate	3.19%	3.24%
Agency Securities [Member] | Greater than 5 years and less than or equal to 10 years [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,149,565	$ 1,985,654
Agency Securities Amortized Cost	$ 3,182,468	$ 2,021,474
Weighted Average Yield Percentage	2.90%	2.78%
Weighted Average Coupon Rate	3.75%	3.65%
Agency Securities [Member] | Greater than 10 years [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 33,913	$ 204,748
Agency Securities Amortized Cost	$ 34,189	$ 204,010
Weighted Average Yield Percentage	2.98%	3.10%
Weighted Average Coupon Rate	3.50%	3.01%

Agency Securities Realized Gain

Agency Securities Realized Gains and Losses on Agency Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Gain (Loss) on Sales of Mortgage Backed Securities (MBS)	$ (243)	$ 3,775	$ (2,790)
Agency Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds from Sale of Agency Securities, Debt	1,047,133	1,374,242	2,245,959
Cost of Sale of Agency Securities	(1,047,376)	(1,370,467)	(2,248,749)
Agency Securities, Gross Realized Gains	4,013	9,291	10,867
Agency Securities, Gross Realized Losses	(4,256)	(5,516)	(13,657)
Gain (Loss) on Sales of Mortgage Backed Securities (MBS)	$ (243)	$ 3,775	$ (2,790)

Agency Securities Agency Secu40

Agency Securities Agency Securities Pledged Under Borrowing Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total Fair Value Of Agency Securities Pledged And Accrued Interest	$ 3,592,399	$ 2,720,941
Fannie Mae [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total Fair Value Of Agency Securities Pledged And Accrued Interest	2,450,807	2,102,203
Freddie Mac [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total Fair Value Of Agency Securities Pledged And Accrued Interest	1,141,592	618,738
Agency Securities [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	3,581,868	2,713,274
Agency Securities Pledged As Collateral Accrued Interest	10,531	7,667
Agency Securities [Member] | Fannie Mae [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	2,443,675	2,096,311
Agency Securities Pledged As Collateral Accrued Interest	7,132	5,892
Agency Securities [Member] | Freddie Mac [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	1,138,193	616,963
Agency Securities Pledged As Collateral Accrued Interest	3,399	1,775
Repurchase Agreements [Member] | Agency Securities [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	3,581,178	2,711,998
Agency Securities Pledged As Collateral Accrued Interest	10,529	7,664
Repurchase Agreements [Member] | Agency Securities [Member] | Fannie Mae [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	2,443,591	2,095,706
Repurchase Agreements [Member] | Agency Securities [Member] | Freddie Mac [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	1,137,587	616,292
Under Derivative Agreements [Member] | Agency Securities [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	690	1,276
Under Derivative Agreements [Member] | Agency Securities [Member] | Fannie Mae [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	84	605
Under Derivative Agreements [Member] | Agency Securities [Member] | Freddie Mac [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	$ 606	$ 671

Agency Securities Agency Secu41

Agency Securities Agency Securities Pledged As Collateral by Maturity Date (Details) - Agency Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	$ 3,581,868	$ 2,713,274
Pledged Assets, Not Separately Reported, Other	10,531	7,667
Securities Sold under Agreements to Repurchase [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	3,581,178	2,711,998
Agency Securities Pledged As Collateral Amortized Cost	3,615,267	2,744,431
Pledged Assets, Not Separately Reported, Other	10,529	7,664
Securities Sold under Agreements to Repurchase [Member] | Maturity up to 30 days [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	940,788	672,749
Agency Securities Pledged As Collateral Amortized Cost	949,282	681,287
Pledged Assets, Not Separately Reported, Other	2,765	1,887
Securities Sold under Agreements to Repurchase [Member] | Maturity 31 To 59 Days [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	1,298,331	1,061,202
Agency Securities Pledged As Collateral Amortized Cost	1,311,882	1,074,283
Pledged Assets, Not Separately Reported, Other	3,818	3,030
Securities Sold under Agreements to Repurchase [Member] | Maturity 60 To 90 Days [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	261,823	496,562
Agency Securities Pledged As Collateral Amortized Cost	262,908	500,517
Pledged Assets, Not Separately Reported, Other	785	1,363
Securities Sold under Agreements to Repurchase [Member] | Maturity over 90 days [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Agency Securities Pledged As Collateral	1,080,236	481,485
Agency Securities Pledged As Collateral Amortized Cost	1,091,195	488,344
Pledged Assets, Not Separately Reported, Other	$ 3,161	$ 1,384

Non-Agency Securities Schedule

Non-Agency Securities Schedule of Non-Agency Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment [Line Items]
Non-Agency Securities, at Fair Value	$ 872,084	$ 1,134,469
Prime [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	143,329	181,267
Gross Unrealized Gain on Non-Agency Securities	9,342	5,945
Gross Unrealized Loss on Non-Agency Securities	(12)	(2,402)
Non-Agency Securities, at Amortized Cost	133,999	177,724
Debt Instrument, Unamortized Discount	(13,893)	(17,672)
Non-Agency Securities at Par	$ 147,892	$ 195,396
Weighted Average Coupon Rate	3.77%	3.18%
Weighted Average Yield Percentage	5.66%	5.61%
Fixed Rate Non-Agency Security	$ 11,800	$ 11,800
Credit Risk Transfer [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	322,819	317,532
Gross Unrealized Gain on Non-Agency Securities	18,346	18,029
Gross Unrealized Loss on Non-Agency Securities	0	(1,012)
Non-Agency Securities, at Amortized Cost	304,473	300,515
Debt Instrument, Unamortized Discount	16,011	2,362
Non-Agency Securities at Par	$ 288,462	$ 298,153
Weighted Average Coupon Rate	5.34%	5.26%
Weighted Average Yield Percentage	5.23%	6.37%
Fixed Rate Non-Agency Security	$ 900
Alt-A [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	286,953	$ 345,586
Gross Unrealized Gain on Non-Agency Securities	51,123	33,702
Gross Unrealized Loss on Non-Agency Securities	(774)	(3,330)
Non-Agency Securities, at Amortized Cost	236,604	315,214
Debt Instrument, Unamortized Discount	(112,305)	(130,714)
Non-Agency Securities at Par	$ 348,909	$ 445,928
Weighted Average Coupon Rate	2.69%	2.05%
Weighted Average Yield Percentage	8.93%	7.58%
Fixed Rate Non-Agency Security	$ 12,200	$ 22,300
Option-Arm [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	86,886	180,169
Gross Unrealized Gain on Non-Agency Securities	13,114	8,075
Gross Unrealized Loss on Non-Agency Securities	0	(4,357)
Non-Agency Securities, at Amortized Cost	73,772	176,451
Debt Instrument, Unamortized Discount	(21,044)	(38,787)
Non-Agency Securities at Par	$ 94,816	$ 215,238
Weighted Average Coupon Rate	1.79%	1.00%
Weighted Average Yield Percentage	6.58%	5.64%
Subprime [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	$ 13,374	$ 92,195
Gross Unrealized Gain on Non-Agency Securities	929	781
Gross Unrealized Loss on Non-Agency Securities	0	(252)
Non-Agency Securities, at Amortized Cost	12,445	91,666
Debt Instrument, Unamortized Discount	(683)	(659)
Non-Agency Securities at Par	$ 13,128	$ 92,325
Weighted Average Coupon Rate	5.20%	4.05%
Weighted Average Yield Percentage	5.97%	4.38%
Fixed Rate Non-Agency Security	$ 13,400	$ 57,500
Commercial Mortgage Backed Securities [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	18,723	17,720
Gross Unrealized Gain on Non-Agency Securities	387	0
Gross Unrealized Loss on Non-Agency Securities	0	(73)
Non-Agency Securities, at Amortized Cost	18,336	17,793
Debt Instrument, Unamortized Discount	(164)	(207)
Non-Agency Securities at Par	$ 18,500	$ 18,000
Weighted Average Coupon Rate	5.68%	5.65%
Weighted Average Yield Percentage	6.03%	6.02%
Fixed Rate Non-Agency Security	$ 18,700	$ 17,700
Non-Agency Securities [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value		1,134,469
Gross Unrealized Gain on Non-Agency Securities	93,241	66,532
Gross Unrealized Loss on Non-Agency Securities	(786)	(11,426)
Non-Agency Securities, at Amortized Cost	779,629	1,079,363
Debt Instrument, Unamortized Discount	(132,078)	(185,677)
Non-Agency Securities at Par	$ 911,707	$ 1,265,040
Weighted Average Coupon Rate	3.73%	3.00%
Weighted Average Yield Percentage	6.59%	6.31%

Non-Agency Securities Weighted

Non-Agency Securities Weighted Average Life of Non-Agency Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment [Line Items]
Non-Agency Securities, at Fair Value	$ 872,084	$ 1,134,469
Non-Agency Securities [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value		1,134,469
Non-Agency Securities, at Amortized Cost	$ 779,629	$ 1,079,363
Weighted Average Coupon Rate	3.73%	3.00%
Weighted Average Yield Percentage	6.59%	6.31%
Less Than or Equal to Five Years [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	$ 302,797	$ 330,507
Non-Agency Securities, at Amortized Cost	$ 258,501	$ 322,535
Weighted Average Coupon Rate	3.11%	3.20%
Weighted Average Yield Percentage	8.31%	5.75%
Greater Than Five Years and Less Than or Equal to Seven Year [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	$ 398,712	$ 487,540
Non-Agency Securities, at Amortized Cost	$ 361,649	$ 455,263
Weighted Average Coupon Rate	4.33%	2.27%
Weighted Average Yield Percentage	5.97%	6.72%
Greater Than Seven Years [Member]
Investment [Line Items]
Non-Agency Security, at Fair Value	$ 170,575	$ 316,422
Non-Agency Securities, at Amortized Cost	$ 159,479	$ 301,565
Weighted Average Coupon Rate	3.61%	4.10%
Weighted Average Yield Percentage	5.18%	6.28%

Non-Agency Securities Realized

Non-Agency Securities Realized Gains (Losses) from Sale of Non-Agency Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Proceeds from sale of non-agency securities	$ (577,678)	$ (725,311)	$ (440,075)
Realized gain on non-agency securities, net	32,815	5,947	5,673
Non-Agency Securities [Member]
Gain (Loss) on Investments [Line Items]
Proceeds from sale of non-agency securities	577,678	725,311	440,075
Increase (Decrease) in Other Receivables	0	(2,565)	2,565
Cost of Sale of Non-Agency Securities	(544,863)	(716,799)	(436,967)
Available-for-sale Securities, Gross Realized Gains	(33,172)	(12,129)	(8,869)
Available-for-sale Securities, Gross Realized Losses	(357)	(6,182)	(3,196)
Realized gain on non-agency securities, net	$ 32,815	$ 5,947	$ 5,673

Non-Agency Securities Non-Agenc

Non-Agency Securities Non-Agency Securities Pledged Under Repurchase Agreements (Details) - Non-Agency Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	$ 743,278	$ 1,019,834
Short-term Debt [Member]
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	743,278	1,019,834
Agency Securities Pledged As Collateral Amortized Cost	658,506	966,983
Pledged Assets, Not Separately Reported, Other	1,095	1,361
Repurchase Agreements [Member]
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	700,000	1,000,000
Maturity up to 30 days [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	585,943	859,046
Agency Securities Pledged As Collateral Amortized Cost	517,750	814,457
Pledged Assets, Not Separately Reported, Other	815	1,142
Maturity 31 To 59 Days [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	97,537	109,057
Agency Securities Pledged As Collateral Amortized Cost	82,105	103,483
Pledged Assets, Not Separately Reported, Other	145	83
Maturity 60 To 90 Days [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Security Owned and Pledged as Collateral, Fair Value	59,798	51,731
Agency Securities Pledged As Collateral Amortized Cost	58,651	49,043
Pledged Assets, Not Separately Reported, Other	$ 135	$ 136

Non-Agency Securities Non-Age46

Non-Agency Securities Non-Agency Portfolio Characteristics (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Prime [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 143,329	$ 181,267
Weighted Average Coupon Rate	3.77%	3.18%
Credit Risk Transfer [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 322,819	$ 317,532
Weighted Average Coupon Rate	5.34%	5.26%
Credit Risk Transfer [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	1.25%
Underlying Collateral Coupon	3.571%
Credit Risk Transfer [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	8.50%
Underlying Collateral Coupon	4.29%
Alt-A [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 286,953	$ 345,586
Weighted Average Coupon Rate	2.69%	2.05%
Alt-A [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	1.632%
Underlying Collateral Coupon	3.584%
Alt-A [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	6.50%
Underlying Collateral Coupon	5.834%
Option-Arm [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 86,886	$ 180,169
Weighted Average Coupon Rate	1.79%	1.00%
Option-Arm [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	1.692%
Underlying Collateral Coupon	3.47%
Option-Arm [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	2.292%
Underlying Collateral Coupon	4.441%
Subprime [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 13,374	$ 92,195
Weighted Average Coupon Rate	5.20%	4.05%
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 18,723	$ 17,720
Weighted Average Coupon Rate	5.68%	5.65%
2012- 2015 [Member] | Prime [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 0
Pre-2013 [Member] | Subprime [Member]
Schedule of Available-for-sale Securities [Line Items]
Non-Agency Security, at Fair Value	$ 13,400
Pre-2013 [Member] | Subprime [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	5.006%
Underlying Collateral Coupon	5.566%
Pre-2013 [Member] | Subprime [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	5.456%
Underlying Collateral Coupon	5.712%
2013 [Member] | Commercial Mortgage Backed Securities [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	5.205%
Underlying Collateral Coupon	4.546%
2013 [Member] | Commercial Mortgage Backed Securities [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	6.55%
Floating Coupon [Member] | Prime [Member] | Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	2.152%
Underlying Collateral Coupon	3.454%
Floating Coupon [Member] | Prime [Member] | Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Weighted Average Coupon Rate	6.50%
Underlying Collateral Coupon	5.084%
External Credit Rating, Non Investment Grade [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of Non-Investment Grade Non-Agency Securities	90.00%

Investments in Real Property 47

Investments in Real Property Investment Activity (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real Estate Properties [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings	$ 153,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment	9,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land	11,000
Buildings and Improvements, Gross	233,407	$ 78,639
Furniture and Fixtures, Gross	14,537	4,453
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	7,592	1,312
Property, Plant and Equipment, Net	240,352	81,780
Land	16,641	5,646
Goodwill	5,840	5,840
Assets, Current	18,994	9,602
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	281,827	102,868
Deferred Rent Receivables, Net	2,800	500
Real Estate Investment [Member]
Real Estate Properties [Line Items]
Cash Equivalents, at Carrying Value	16,100	$ 6,600
UTAH | Triple Net [Member]
Real Estate Properties [Line Items]
Real Estate Investments, Net	26,500
VIRGINIA | Triple Net [Member]
Real Estate Properties [Line Items]
Real Estate Investments, Net	130,000
GEORGIA | Joint Venture [Member]
Real Estate Properties [Line Items]
Real Estate Investments, Net	$ 17,100

Investments in Real Property He

Investments in Real Property Healthcare Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Liabilities Assumed	$ 75,952	$ 0	$ 0
Notes and Loans Payable	186,500	66,527	0
Long-term Debt, Percentage Bearing Variable Interest, Amount	50,300	51,000
Proceeds from Issuance of Secured Debt	77,417	66,709	0
Debt Instrument, Periodic Payment, Principal	34,367	182	$ 0
Long-term Debt, Percentage Bearing Fixed Interest, Amount	138,800	16,700
Long-term Debt, Fair Value	190,000	65,000
Real Estate Investment [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Secured Debt	153,369	66,451
Payments of Financing Costs	971	(258)
Debt Instrument, Periodic Payment, Principal	$ 34,367	$ (182)
Weighted Average [Member]
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayment Terms	P25Y7M	P9Y6M
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	4.34%	4.74%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.80%	4.58%
Variable Rate [Domain] | Weighted Average [Member]
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayment Terms	P0Y9M	P1Y2M

Investments in Real Property Ne

Investments in Real Property Net Income (Loss) from Healthcare Real Estate Investments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Investment Income [Line Items]
Real Estate Revenue, Net									$ 24,431	$ 6,059	$ 0
Interest Expense	$ 15,570	$ 14,447	$ 12,344	$ 10,165	$ 10,144	$ 10,082	$ 9,576	$ 9,780	52,526	39,582	30,800
Depreciation									7,251	1,295	$ 0
Real Estate Investment [Member]
Net Investment Income [Line Items]
Operating Leases, Income Statement, Lease Revenue									18,283	3,626
Rental Income, Nonoperating									6,148	2,433
Real Estate Revenue, Net									24,431	6,059
Interest Expense									7,808	1,814
Depreciation									6,280	1,312
Business Combination, Acquisition Related Costs									0	890
Noninterest Expense									4,235	1,384
Real Estate Tax Expense									246	0
Other Expense from Real Estate Partnership Operations									18,569	5,400
Net Income (Loss) from Real Estate Investment Partnership, Attributable to Parent									$ 5,862	$ 659

Investments in Real Property Fu

Investments in Real Property Future Minimum Lease Payments Receivable (Details) - Triple Net [Member] $ in Thousands	Dec. 31, 2017USD ($)
Schedule of Minimum Lease Payments Receivable [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	$ 20,345
Operating Leases, Future Minimum Payments Receivable, in Two Years	20,764
Operating Leases, Future Minimum Payments Receivable, in Three Years	21,191
Operating Leases, Future Minimum Payments Receivable, in Four Years	21,627
Operating Leases, Future Minimum Payments Receivable, in Five Years	22,073
Operating Leases, Future Minimum Payments Receivable, Thereafter	193,233
Operating Leases, Future Minimum Payments Receivable	$ 299,233

Repurchase Agreements Repurchas

Repurchase Agreements Repurchase Agreements by Collateral Type (Details) - Repurchase Agreements [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Securities Sold under Agreements to Repurchase	$ 3,863,719	$ 2,970,816
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.71%	1.31%
Weighted Average Days to Maturity	P101D	P125D
Agency Securities [Member]
Short-term Debt [Line Items]
Securities Sold under Agreements to Repurchase	$ 3,307,662	$ 2,215,151
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.54%	1.00%
Weighted Average Days to Maturity	P114D	P159D
Non-Agency Securities [Member]
Short-term Debt [Line Items]
Securities Sold under Agreements to Repurchase	$ 556,057	$ 755,665
Short-term Debt, Weighted Average Interest Rate, at Point in Time	2.72%	2.23%
Weighted Average Days to Maturity	P24D	P23D

Repurchase Agreements Schedule

Repurchase Agreements Schedule of Repurchase Agreements (Details) - Repurchase Agreements [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 3,863,719	$ 2,970,816
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.71%	1.31%
Weighted Average Days to Maturity	P101D	P125D
Maturity up to 30 days [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 1,341,712	$ 1,304,341
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.91%	1.52%
Weighted Average Days to Maturity	P17D	P15D
Maturity Thirty One To Sixty Days [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 1,334,493	$ 830,099
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.55%	1.16%
Weighted Average Days to Maturity	P40D	P41D
Maturity 61 To 90 Days [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 295,204	$ 508,047
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.76%	1.07%
Weighted Average Days to Maturity	P76D	P78D
Maturity 90 to 180 Days [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 334,372	$ 63,329
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.51%	0.93%
Weighted Average Days to Maturity	P123D	P114D
Maturity 180 to 270 days [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 292,938	$ 0
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.57%
Weighted Average Days to Maturity	P256D
Greater Than 12 Months [Member]
Statement [Line Items]
Securities Sold under Agreements to Repurchase	$ 265,000	$ 265,000
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.80%	1.32%
Weighted Average Days to Maturity	P658D	P1023D

Repurchase Agreements Repurch53

Repurchase Agreements Repurchase Agreements Narrative (Details)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Number of Repo Counterparties	34
Secured Debt, Repurchase Agreements	$ 3,863,719,000	$ 2,970,816,000
Risk Of Repurchase Agreement To Stockholders Equity	5.00%
Agency Securities [Member]
Agency Securities Pledged As Collateral	$ 3,581,868,000	2,713,274,000
Non-Agency Securities [Member]
Agency Securities Pledged As Collateral	743,278,000	1,019,834,000
Repurchase Agreements [Member] | Agency Securities [Member]
Agency Securities Pledged As Collateral		2,425,300,000
Repurchase Agreements [Member] | Non-Agency Securities [Member]
Agency Securities Pledged As Collateral	$ 700,000,000	$ 1,000,000,000
Top 5 Repo Counterparties [Member]
Risk Of Repurchase Agreement To Stockholders Equity	17.00%

Derivatives Fair Value of Outst

Derivatives Fair Value of Outstanding Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	$ 14,712	$ 29,048
Derivative Liabilities	4,454	27,820
Interest Rate Swap Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	4,894	26,766
Derivative Liabilities	0	4,475
Payer Swaption [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	6,728	1,467
Purchases Of TBAs And Forward Settling Agency Securities [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, at fair value	3,090	815
Derivative Liabilities	1,339	19,304
Credit Default Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 3,115	$ 4,041

Derivatives Effect of Derivativ

Derivatives Effect of Derivatives on Net Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	$ (7,317)	$ (10,337)	$ (16,437)
Unrealized Gain Loss On Derivative Instrument And Trading Securities		63,389	2,056
Other realized gain loss on derivative instruments and other securities, net		(96,709)	(45,901)
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	32,481	(96,709)	(45,901)
Unrealized Gain (Loss) on Derivatives	(3,426)	63,389	2,056
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	(7,317)	(10,337)	(16,437)
Unrealized Gain Loss On Derivative Instrument And Trading Securities	(19,939)	73,646	9,662
Other realized gain loss on derivative instruments and other securities, net	37,971	(80,762)	(53,114)
Interest Rate Swaption [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	0	0	0
Unrealized Gain Loss On Derivative Instrument And Trading Securities	(656)	813	156
Other realized gain loss on derivative instruments and other securities, net	(2,735)	(1,307)	(4,049)
Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	0	0	0
Unrealized Gain Loss On Derivative Instrument And Trading Securities	20,240	(19,295)	(10,825)
Other realized gain loss on derivative instruments and other securities, net	18,852	(3,422)	22,727
Credit Default Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	0	0	0
Unrealized Gain Loss On Derivative Instrument And Trading Securities	232	(2,655)	895
Other realized gain loss on derivative instruments and other securities, net	(1,065)	(1,461)	125
Derivative [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	0	0	0
Unrealized Gain Loss On Derivative Instrument And Trading Securities	7	(1,075)	411
Other realized gain loss on derivative instruments and other securities, net	201	4,546	3,954
Short [Member] | US Treasury Securities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss) on periodic interest settlements of interest rate swaps, net	0	0	0
Unrealized Gain Loss On Derivative Instrument And Trading Securities	(3,310)	11,955	1,757
Other realized gain loss on derivative instruments and other securities, net	$ (20,743)	$ (14,303)	$ (15,544)

Derivatives Change in Derivativ

Derivatives Change in Derivative Notional Amounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount of Derivatives	$ (200,000)
Notional Amount of Derivatives	(400,000)	$ (200,000)
Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(2,975,000)	(2,290,000)	$ (4,015,000)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	1,145,000	1,835,000	275,000
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(590,000)	(1,150,000)	(2,000,000)
Notional Amount of Derivatives	(3,530,000)	(2,975,000)	(2,290,000)
Interest Rate Swaption [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(150,000)	(250,000)	(550,000)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	375,000	0	100,000
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(100,000)	(100,000)	(400,000)
Notional Amount of Derivatives	(425,000)	(150,000)	(250,000)
Forward Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(886,042)	(59,878)	(296,172)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	26,028,309	16,995,682	28,149,744
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(25,209,965)	(16,169,518)	(28,386,038)
Notional Amount of Derivatives	(1,704,386)	(886,042)	(59,878)
US Treasury Securities [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(21,000)	0	(756,500)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	35,000	344,500	3,772,750
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(56,000)	(323,500)	(4,529,250)
Notional Amount of Derivatives	0	(21,000)	0
Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	(40,128)	(48,739)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period		0	0
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period		(40,128)	(8,611)
Notional Amount of Derivatives		0	(40,128)
Credit Default Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(49,000)	(49,500)	0
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	0	0	99,500
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(1,000)	(500)	(50,000)
Notional Amount of Derivatives	(48,000)	(49,000)	(49,500)
Credit Default Option [Member]
Derivative [Line Items]
Notional Amount of Derivatives		0	0
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period			50,000
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period			(50,000)
Notional Amount of Derivatives			0
Short [Member] | Forward Contracts [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(886,042)	(59,878)
Notional Amount of Derivatives		(886,042)	(59,878)
Short [Member] | US Treasury Securities [Member]
Derivative [Line Items]
Notional Amount of Derivatives	(511,000)	(269,000)	(228,500)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period	1,426,000	959,500	1,698,200
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period	(1,761,700)	(1,201,500)	(1,738,700)
Notional Amount of Derivatives	(846,700)	(511,000)	(269,000)
Short [Member] | Call Option [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	0	0
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period		50,000	50,000
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period		(50,000)	(50,000)
Notional Amount of Derivatives		0	0
Short [Member] | Treasury Futures Short [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 0	(350,000)	(150,000)
Notional Amount Of Derivatives Not Designated As Hedging Instruments Additions During The Period		1,600,000	800,000
Notional Amount Of Derivatives Not Designated As Hedging Instruments Settlement Expiration During The Period		(1,250,000)	(1,000,000)
Notional Amount of Derivatives		$ 0	$ (350,000)

Derivatives Interest Rate Swap

Derivatives Interest Rate Swap Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative Liability	$ (4,454)	$ (27,820)
Notional Amount of Derivatives	400,000	200,000
Derivative Asset	14,712	29,048
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Liability	0	(4,475)
Notional Amount of Derivatives	3,530,000	2,975,000	$ 2,290,000	$ 4,015,000
Derivative Asset	$ 4,894	$ 26,766
Weighted Average Days to Maturity	1 month	2 months
Interest Rate Derivative Not Designated As Hedging Instruments Average Fixed Pay Rate	1.65%	1.39%
Interest Rate Derivative Not Designated As Hedging Instruments Average receive Rate	1.46%	0.92%
Derivative, Average Remaining Maturity	4 years 2 months	3 years 4 months
Greater Than One Year and Less Than or Equal to Three Years [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 1,500,000	$ 1,865,000
Interest Rate Derivative Not Designated As Hedging Instruments Average Fixed Pay Rate	1.26%	1.14%
Interest Rate Derivative Not Designated As Hedging Instruments Average receive Rate	1.46%	0.92%
Derivative, Average Remaining Maturity	1 year 4 months	1 year 9 months
Greater Than Three Years and Less Than or Equal to Five Years [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 985,000	$ 475,000
Interest Rate Derivative Not Designated As Hedging Instruments Average Fixed Pay Rate	1.79%	1.78%
Interest Rate Derivative Not Designated As Hedging Instruments Average receive Rate	1.47%	0.93%
Derivative, Average Remaining Maturity	4 years	4 years 9 months
Greater Than Five Years and Less than or Equal to Seven Years [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 350,000	$ 510,000
Interest Rate Derivative Not Designated As Hedging Instruments Average Fixed Pay Rate	1.78%	1.78%
Interest Rate Derivative Not Designated As Hedging Instruments Average receive Rate	1.40%	0.89%
Derivative, Average Remaining Maturity	5 years 8 months	5 years 9 months
Greater Than Seven Years [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Derivatives	$ 695,000	$ 125,000
Interest Rate Derivative Not Designated As Hedging Instruments Average Fixed Pay Rate	2.26%	2.08%
Interest Rate Derivative Not Designated As Hedging Instruments Average receive Rate	1.47%	0.91%
Derivative, Average Remaining Maturity	9 years 11 months	9 years 8 months
Maximum [Member]
Derivative [Line Items]
Percent of Equity at Risk Under Derivative Assets	1.00%

Derivatives Interest Rate Swa58

Derivatives Interest Rate Swap by Remaining Maturity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional Amount of Derivatives	$ 400,000	$ 200,000
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Variable Interest Rate	1.46%	0.92%
Notional Amount of Derivatives	$ 3,530,000	$ 2,975,000	$ 2,290,000	$ 4,015,000
Derivative, Forward Interest Rate	1.58%	1.35%
Derivative, Average Fixed Interest Rate	1.65%	1.39%
Derivative, Average Remaining Maturity	4 years 2 months	3 years 4 months
Interest Rate Swap [Member] | Greater Than One Year and Less Than or Equal to Three Years [Member]
Derivative [Line Items]
Derivative, Variable Interest Rate	1.46%	0.92%
Notional Amount of Derivatives	$ 1,500,000	$ 1,865,000
Derivative, Average Fixed Interest Rate	1.26%	1.14%
Derivative, Average Remaining Maturity	1 year 4 months	1 year 9 months
Interest Rate Swap [Member] | Greater Than Three Years and Less Than or Equal to Five Years [Member]
Derivative [Line Items]
Derivative, Variable Interest Rate	1.47%	0.93%
Notional Amount of Derivatives	$ 985,000	$ 475,000
Derivative, Average Fixed Interest Rate	1.79%	1.78%
Derivative, Average Remaining Maturity	4 years	4 years 9 months
Interest Rate Swap [Member] | Greater Than Five Years and Less than or Equal to Seven Years [Member]
Derivative [Line Items]
Derivative, Variable Interest Rate	1.40%	0.89%
Notional Amount of Derivatives	$ 350,000	$ 510,000
Derivative, Average Fixed Interest Rate	1.78%	1.78%
Derivative, Average Remaining Maturity	5 years 8 months	5 years 9 months
Interest Rate Swap [Member] | Greater Than Seven Years [Member]
Derivative [Line Items]
Derivative, Variable Interest Rate	1.47%	0.91%
Notional Amount of Derivatives	$ 695,000	$ 125,000
Derivative, Average Fixed Interest Rate	2.26%	2.08%
Derivative, Average Remaining Maturity	9 years 11 months	9 years 8 months

Derivatives Interest Rate Swapt

Derivatives Interest Rate Swaptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 400,000	$ 200,000
Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost	12,145	6,227
Interest Rate Derivatives, at Fair Value, Net	$ 6,728	$ 1,467
Weighted Average Years to Swaption Maturity	2 years	2 years 10 months
Notional Amount of Interest Rate Derivatives	$ 425,000	$ 150,000	$ 250,000	$ 550,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate	2.78%	0.00%
Derivatives Average Term	8 years 11 months	5 years 8 months
Greater Than 3 Months and Less Than 12 Months [Domain] | Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost		$ 2,734
Interest Rate Derivatives, at Fair Value, Net		$ 340
Weighted Average Years to Swaption Maturity		11 months
Notional Amount of Interest Rate Derivatives		$ 100,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate		3.21%
Derivatives Average Term		5 years
3 Months or Less [Member] | Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost		$ 3,493
Interest Rate Derivatives, at Fair Value, Net		$ 1,127
Weighted Average Years to Swaption Maturity		6 years 8 months
Notional Amount of Interest Rate Derivatives		$ 50,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate		3.00%
Derivatives Average Term		7 years
Greater Than 3 Months and Less Than 12 Months [Domain] | Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost	$ 2,111
Interest Rate Derivatives, at Fair Value, Net	$ 1,621
Weighted Average Years to Swaption Maturity	11 months
Notional Amount of Interest Rate Derivatives	$ 175,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate	2.71%
Derivatives Average Term	8 years 7 months
Greaterthan12Monthsandlessthanorequalto24Months [Member] | Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost	$ 2,083
Interest Rate Derivatives, at Fair Value, Net	$ 1,400
Weighted Average Years to Swaption Maturity	1 year 6 months
Notional Amount of Interest Rate Derivatives	$ 75,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate	2.73%
Derivatives Average Term	10 years
Greater Than 24 Months [Domain] | Interest Rate Swaption [Member]
Derivative [Line Items]
Options At Cost	$ 7,951
Interest Rate Derivatives, at Fair Value, Net	$ 3,707
Weighted Average Years to Swaption Maturity	3 years 5 months
Notional Amount of Interest Rate Derivatives	$ 175,000
Interest Rate Derivative Not Designated As Hedging instruments Pay Rate	2.87%
Derivatives Average Term	8 years 11 months

Derivatives TBA Securities (Det

Derivatives TBA Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Notional Amount of Derivatives	$ 400,000	$ 200,000
TBA securities Fifteen Year and Thirty Year Securities [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,704,386	886,042
Derivative, Fair Value, Net	1,751	(18,489)
Derivative Assets [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,385,216	409,300
Derivative, Fair Value, Net	3,090	815
Derivative Assets [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member] | Long [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,386,416	410,300
Derivative, Fair Value, Net	3,089	815
Derivative Assets [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member] | Short [Member]
Derivative [Line Items]
Notional Amount of Derivatives	1,200	1,000
Derivative, Fair Value, Net	1	0
Derivative liabilities [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member]
Derivative [Line Items]
Notional Amount of Derivatives	319,170	476,742
Derivative, Fair Value, Net	(1,339)	(19,304)
Derivative liabilities [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member] | Long [Member]
Derivative [Line Items]
Notional Amount of Derivatives	319,170	678,542
Derivative, Fair Value, Net	(1,339)	(18,636)
Derivative liabilities [Member] | TBA securities Fifteen Year and Thirty Year Securities [Member] | Short [Member]
Derivative [Line Items]
Notional Amount of Derivatives	0	201,800
Derivative, Fair Value, Net	$ 0	$ (668)

Derivatives U.S. Treasury Secur

Derivatives U.S. Treasury Securities and Futures (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Open Option Contracts Written [Line Items]
Notional Amount of Derivatives	$ (400,000)	$ (200,000)
Derivative Liabilities	4,454	27,820
Derivative Asset	14,712	29,048
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	830,776	474,935
Receivable Under Reverse Repurchase Agreements	843,130	487,469
US Treasury Securities [Member]
Open Option Contracts Written [Line Items]
Notional Amount of Derivatives	$ 0	$ (21,000)	$ 0	$ (756,500)

Derivatives Credit Default Swap

Derivatives Credit Default Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	$ 830,776	$ 474,935
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)	0	20,209
Receivable Under Reverse Repurchase Agreements	843,130	487,469
Derivative, Notional Amount	(400,000)	(200,000)
Derivative Liability	(4,454)	(27,820)
Credit Default Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	(48,000)	(49,000)	$ (49,500)	$ 0
Derivative Liability	$ (3,115)	$ (4,041)

Derivatives Credit Risk Conting

Derivatives Credit Risk Contingent Features (Details)	Dec. 31, 2017
Maximum [Member]
Derivative [Line Items]
Percent of Equity at Risk Under Derivative Assets	1.00%

Offsetting Assets and Liabili64

Offsetting Assets and Liabilities Offsetting of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Securities Sold under Agreements to Repurchase [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	$ 843,130	$ 487,469
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	843,130	487,469
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(725,319)	(366,950)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	(117,811)	(120,519)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	0	0
Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	857,842	516,517
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	857,842	516,517
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(726,658)	(372,240)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	(123,453)	(129,684)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	7,731	14,593
Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	3,863,719	2,970,816
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	3,863,719	2,970,816
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(725,319)	(366,950)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	(3,138,400)	(2,603,866)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	0	0
Federal Home Loan Bank Advances [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)		273,700
Gross Amounts Offset on the Balance Sheet		0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet		273,700
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet		0
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet		(273,700)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet		0
Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	3,865,058	3,268,295
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	3,865,058	3,268,295
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(726,658)	(372,240)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	(3,138,400)	(2,896,055)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	0	0
Interest Rate Contract [Member] | Derivative Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	11,622	28,233
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	11,622	28,233
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	0	(4,475)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	(5,642)	(9,165)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	5,980	14,593
Forward Contracts [Member] | Derivative Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	3,090	815
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	3,090	815
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(1,339)	(815)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	0	0
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	1,751	0
Forward Contracts [Member] | Derivative liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	1,339	19,304
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	1,339	19,304
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	(1,339)	(815)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	0	(18,489)
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	0	0
Interest Rate Swap [Member] | Derivative liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Amount of Recognized Assets (Liabilities)	0	4,475
Gross Amounts Offset on the Balance Sheet	0	0
Net Amount of Assets (Liabilities) Presented on the Balance Sheet	0	4,475
Gross Amounts of Financial Instruments Not Offset on the Balance Sheet	0	(4,475)
Gross Amounts of Cash Collateral Not Offset on the Balance Sheet	0	0
Net Amount After Deducting Gross Amounts Not Offset on the Balance Sheet From Net Amount of Assets (Liabilities) Presented on the Balance Sheet	$ 0	$ 0

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	$ 3,758,181	$ 2,803,168
Non-Agency Securities, at Fair Value	872,084	1,134,469
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)	0	20,209
Derivative Asset	14,712	29,048
Servicing Asset at Fair Value, Amount	0	49,776	$ 49,776	$ 70,857
Derivative liabilities, at fair value	4,454	27,820
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	830,776	474,935
Fair Value, Measurements, Recurring [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	3,758,181	2,803,168
Non-Agency Security, at Fair Value	872,084
Non-Agency Securities, at Fair Value		1,134,469
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)		20,209
Derivative Asset	14,712	29,048
Servicing Asset at Fair Value, Amount		49,776
Assets, Fair Value Disclosure, Recurring	4,644,977	4,036,670
Derivative liabilities, at fair value	4,454	27,820
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	830,776	474,935
Liabilities, Fair Value Disclosure, Recurring	835,230	502,755
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	0	0
Non-Agency Security, at Fair Value	0
Non-Agency Securities, at Fair Value		0
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)		20,209
Derivative Asset	0	0
Servicing Asset at Fair Value, Amount		0
Assets, Fair Value Disclosure, Recurring	0	20,209
Derivative liabilities, at fair value	0	0
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	830,776	474,935
Liabilities, Fair Value Disclosure, Recurring	830,776	474,935
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	3,758,181	2,803,168
Non-Agency Security, at Fair Value	872,084
Non-Agency Securities, at Fair Value		1,134,469
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)		0
Derivative Asset	14,712	29,048
Servicing Asset at Fair Value, Amount		0
Assets, Fair Value Disclosure, Recurring	4,644,977	3,966,685
Derivative liabilities, at fair value	4,454	27,820
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	0	0
Liabilities, Fair Value Disclosure, Recurring	4,454	27,820
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Agency securities, at fair value (including pledged securities of $3,581,868 and $2,713,274, respectively)	0	0
Non-Agency Security, at Fair Value	0
Non-Agency Securities, at Fair Value		0
US Government Securities, at Carrying Value (including pledged securities of $0 and $20,209 respectively)		0
Derivative Asset	0	0
Servicing Asset at Fair Value, Amount		49,776
Assets, Fair Value Disclosure, Recurring	0	49,776
Derivative liabilities, at fair value	0	0
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	0	0
Liabilities, Fair Value Disclosure, Recurring	$ 0	$ 0

Fair Value Measurements Level 3

Fair Value Measurements Level 3 Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortization of Mortgage Servicing Rights (MSRs)									$ (1,089)	$ (10,335)	$ (10,033)
Unrealized gain (loss) mortgage servicing rights									0	(10,746)	(415)
Other Operating Income (Expense), Net	$ (91)	$ 1,161	$ 1,840	$ 2,427	$ 1,161	$ 2,490	$ 5,783	$ 8,256	5,337	17,690	17,367
Fair Value, Inputs, Level 3 [Member] | Servicing Contracts [Member] | Purchased MSR [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 0				$ 49,776				0	49,776	$ 70,857
Amortization of Mortgage Servicing Rights (MSRs)									(1,089)	(10,335)
Unrealized gain (loss) mortgage servicing rights										(10,746)
Other Operating Income (Expense), Net									1,089	21,081
Payments for (Proceeds from) Mortgage Servicing Rights									$ (48,687)	$ 0

Mortgage Servicing Rights (Deta

Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Servicing Asset at Fair Value, Amount	$ 0	$ 49,776	$ 70,857	$ 49,776
Unrealized gain (loss) mortgage servicing rights	0	(10,746)	(415)
Amortization of Mortgage Servicing Rights (MSRs)	$ 1,089	$ 10,335	$ 10,033

Mortgage Servicing Rights Rollf

Mortgage Servicing Rights Rollforward of Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Servicing Assets at Fair Value [Line Items]
Servicing Asset at Fair Value, Amount	$ 0	$ 49,776	$ 70,857	$ 49,776
Servicing Asset at Fair Value, Disposals	(48,687)	0
Unrealized gain (loss) mortgage servicing rights	0	(10,746)	$ (415)
Servicing Asset at Fair Value, Other Changes in Fair Value	$ (1,089)	$ (10,335)

Mortgage Servicing Rights Compo

Mortgage Servicing Rights Components of Servicing Revenue and Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Components of Servicing Revenue [Line Items]
Contractually Specified Servicing Fees, Amount									$ 2,620	$ 17,836	$ 32,681
Ancillary Fee Income Generated by Servicing Financial Assets, Amount									169	3,472	15,957
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset									2,789	21,308	48,638
Labor and Related Expense									3,869	16,624	31,039
Occupancy, Net									472	2,641	10,194
Amortization of Mortgage Servicing Rights (MSRs)									(1,089)	(10,335)	(10,033)
Other Expenses									2,696	9,398	14,739
Other Noninterest Expense									8,126	38,998	66,005
Other Operating Income (Expense), Net	$ (91)	$ 1,161	$ 1,840	$ 2,427	$ 1,161	$ 2,490	$ 5,783	$ 8,256	$ 5,337	$ 17,690	$ 17,367

Other Assets Schedule of Other

Other Assets Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Other Assets [Line Items]
Goodwill	$ 5,840	$ 5,840
Other Receivables	324	9,151
Federal Home Loan Bank Stock	0	11,489
Prepaid Expense, Current	1,993	1,291
Accounts and Notes Receivable, Net	5,682	4,031
Intangible Assets, Net (Including Goodwill)	5,840	5,840
Other Assets, Miscellaneous, Current	9,403	7,376
Other Assets	$ 23,242	$ 39,178

Other Liabilities Schedule of O

Other Liabilities Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivative, Collateral, Obligation to Return Cash	$ 5,642	$ 10,807
Due to Affiliate, Current	1,451	1,747
Interest Payable, Current	12,547	6,590
Other Accounts Payable and Accrued Liabilities	13,952	11,732
Accounts Payable and Accrued Liabilities	$ 33,592	$ 30,876

Management Agreement and Rela72

Management Agreement and Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Asset Management Costs	$ 13,697	$ 14,509	$ 17,225
Management Fee Payable	1,000	1,100
Related Party Transaction, Expenses from Transactions with Related Party	2,000	2,400	$ 2,100
Accounts Payable, Related Parties, Current	100	$ 600
Marketable Securities	$ 1,600

Income Taxes (Details)

Income Taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Gain (Loss) on Investments [Line Items]
Operating Loss Carryforwards	$ 118
Operating Loss Carryforwards, Limitations on Use	49,800
Deferred Tax Assets, Other Loss Carryforwards	$ 31
Deferred Tax Assets, Gross	0.6
Capital Loss Carryforward [Member]
Gain (Loss) on Investments [Line Items]
Loss on Sale of Investments	$ 14

Income Taxes Dividends Declared

Income Taxes Dividends Declared (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Dividends Payable [Line Items]
Payments of Dividends									$ 84,614,000	$ 78,460,000	$ 108,907,000
Common Stock, Dividends, Per Share, Declared	$ 0.50	$ 0.45	$ 0.45	$ 0.45	$ 0.40	$ 0.40	$ 0.40	$ 0.40
Preferred Stock [Member]
Dividends Payable [Line Items]
Dividends									4,468,000	4,468,000	4,468,000
Payments of Dividends									0	0	0
Payments of Capital Distribution									0	0	0
Payments of Ordinary Dividends									$ 2.031250	$ 2.031250	$ 2.031250
Preferred Stock, Dividends Per Share, Declared									$ 2.031250	$ 2.031250	$ 2.031250
Common Stock [Member]
Dividends Payable [Line Items]
Dividends									$ 84,726,000	$ 73,261,000	$ 90,232,000
Payments of Dividends									0	0	0
Payments of Capital Distribution									$ 0	$ 0	$ 0
Common Stock, Dividends, Per Share, Declared									$ 1.850000	$ 1.600000	$ 1.800000
Payments of Ordinary Dividends									$ 1.850000	$ 1.600000	$ 1.800000

Income Taxes Schedule of Divide

Income Taxes Schedule of Dividends Payable (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Dividends Payable [Line Items]
Payments of Dividends									$ 84,614,000	$ 78,460,000	$ 108,907,000
Common Stock, Dividends, Per Share, Declared	$ 0.50	$ 0.45	$ 0.45	$ 0.45	$ 0.40	$ 0.40	$ 0.40	$ 0.40
Preferred Stock [Member]
Dividends Payable [Line Items]
Payments of Ordinary Dividends									2.031250	2.031250	2.031250
Payments of Dividends									0	0	0
Payments of Capital Distribution									$ 0	$ 0	$ 0
Preferred Stock, Dividends Per Share, Declared									$ 2.031250	$ 2.031250	$ 2.031250
Dividends									$ 4,468,000	$ 4,468,000	$ 4,468,000
Common Stock [Member]
Dividends Payable [Line Items]
Payments of Ordinary Dividends									1.850000	1.600000	1.800000
Payments of Dividends									0	0	0
Payments of Capital Distribution									$ 0	$ 0	$ 0
Common Stock, Dividends, Per Share, Declared									$ 1.850000	$ 1.600000	$ 1.800000
Dividends									$ 84,726,000	$ 73,261,000	$ 90,232,000

Stockholder's Equity Preferred

Stockholder's Equity Preferred Stock Offering (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	50,000	50,000
Preferred Stock, Shares Issued	2,200	2,200
Preferred Stock, Value, Issued	$ 53,039	$ 53,039
Preferred Class A [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	2,300
Preferred Stock, Dividend Rate, Percentage	8.125%
Preferred Stock, Shares Subscribed but Unissued	47,800
Preferred Stock, Redemption Price Per Share	$ 25

Stockholder's Equity Stock Repu

Stockholder's Equity Stock Repurchase Program (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 100
Stock Repurchase Program Expiration Date	Dec. 31, 2018
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 100

Stockholder's Equity Long Term

Stockholder's Equity Long Term Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	17,415	10,506	245,437	271,580
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(11,563)	(175,293)	(52,986)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	0	2,000	0
Share-based Compensation	$ 236	$ 2,130	$ 1,558
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 100
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	862,277
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 17.43	$ 19.17	$ 21.61	$ 20
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	16,620	25,050	20,730
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 18.05	$ 14.97	$ 18.09
Accrued RSU Dividend Equivalent	1,852	1,796	6,113
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 14.97	$ 19.36	$ 20.02
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Vest Date Fair Value	$ 17.94	$ 14.20	$ 16.46
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		(86,484)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value		$ 19.93
Director [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		38,314
Subsidiaries [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		136,979
Subsidiaries [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted Stock or Unit Expense				$ 5,400
Director [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted Stock or Unit Expense	$ 300	$ 400	$ 400

Stockholder's Equity At-the-Mar

Stockholder's Equity At-the-Market Offering (Details) $ in Millions	Dec. 31, 2017USD ($)
At-the-Market Offering [Abstract]
Common stock, Value of Shares Approved for Future Issuance	$ 125

Quarterly Results (Unaudited)80

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Results (Unaudited) [Abstract]
Investment Income, Interest	$ 38,167	$ 35,991	$ 35,733	$ 33,757	$ 39,453	$ 35,591	$ 35,454	$ 37,272
Interest Expense	(15,570)	(14,447)	(12,344)	(10,165)	(10,144)	(10,082)	(9,576)	(9,780)	$ (52,526)	$ (39,582)	$ (30,800)
Interest Income (Expense), Net	(22,597)	(21,544)	(23,389)	(23,592)	(29,309)	(25,509)	(25,878)	(27,492)	(91,122)	(108,188)	(143,318)
Other Operating Income (Expense), Net	91	(1,161)	(1,840)	(2,427)	(1,161)	(2,490)	(5,783)	(8,256)	(5,337)	(17,690)	(17,367)
Profit (Loss) from Real Estate Operations	1,850	1,969	1,381	662	498	350	(189)	0	5,862	659	0
Gain (Loss) on Investments	10,063	32,923	25,103	22,069	(68,411)	51,004	27,931	(34,368)	90,158	(23,844)	(139,062)
Operating Expenses	(5,088)	(5,425)	(5,421)	(5,095)	(5,161)	(5,319)	(7,430)	(5,857)	(21,029)	(23,767)	(25,205)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	29,513	49,850	42,612	38,801	(44,926)	69,054	40,407	(20,989)
Other Tax Expense (Benefit)	550	0	0	0	745	(31)	(281)	(308)
Net Income (Loss) Attributable to Parent	(30,063)	(49,850)	(42,612)	(38,801)	44,181	(69,023)	(40,126)	21,297	(161,335)	(43,669)	38,358
Preferred Stock Dividends, Income Statement Impact	(1,117)	(1,117)	(1,117)	(1,117)	(1,117)	(1,117)	(1,117)	(1,117)	(4,468)	(4,468)	(4,468)
Net Income (Loss) Attributable to Noncontrolling Interest	4	0	7	(2)	(3)	(5)	6	0	9	(2)	0
Net Income (Loss) Available to Common Stockholders, Basic	$ 28,950	$ 48,733	$ 41,502	$ 37,682	$ (45,301)	$ 67,901	$ 39,015	$ (22,414)	$ 156,867	$ 39,201	$ (42,826)
Earnings Per Share, Basic and Diluted	$ 0.63	$ 1.06	$ 0.91	$ 0.82	$ (0.99)	$ 1.48	$ 0.85	$ (0.48)	$ 3.42	$ 0.85	$ (0.85)
Weighted Average Number of Shares Outstanding, Basic	45,809	45,809	45,803	45,798	45,798	45,798	45,777	46,651	45,805	46,005	50,506
Weighted Average Number of Shares Outstanding, Diluted	45,818	45,814	45,804	45,806	45,803	45,801	45,778	46,666	45,811	46,008	50,519
Common Stock, Dividends, Per Share, Declared	$ 0.50	$ 0.45	$ 0.45	$ 0.45	$ 0.40	$ 0.40	$ 0.40	$ 0.40