Dynex Capital (DX) 10-K 4 Mar 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Feb. 27, 2014	Jun. 30, 2013
Entity Information [Line Items]	'	'	'
Entity Registrant Name	'DYNEX CAPITAL INC	'	'
Entity Central Index Key	'0000826675	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Accelerated Filer	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Amendment Flag	'false	'	'
Entity Common Stock, Shares Outstanding	'	54,731,135	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$518,414,092

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'
Mortgage-backed securities, at fair value	$4,018,161	$4,103,981
Financing Receivable, Net	54,748	70,823
Other investments, net	675	858
Total investments, net	4,073,584	4,175,662
Cash and cash equivalents	69,330	55,809
Restricted cash	13,385	0
Derivative assets	18,488	0
Principal receivable on investments	12,999	17,008
Accrued interest receivable	21,703	23,073
Other assets, net	7,648	8,677
Total assets	4,217,137	4,280,229
Liabilities:	'	'
Repurchase agreements	3,580,754	3,564,128
Payable for unsettled mortgage-backed securities	10,358	0
Non recourse collateralized financing	12,914	30,504
Derivative Liabilities	6,681	42,537
Accrued interest payable	2,548	2,895
Accrued dividends payable	16,601	16,770
Other liabilities	1,405	6,685
Total liabilities	3,631,261	3,663,519
Shareholders’ equity:	'	'
Common stock, par value $.01 per share, 100,000,000 shares authorized; 54,835,420 and 54,268,915 shares issued and outstanding, respectively	543	543
Additional paid-in capital	761,550	759,214
Accumulated other comprehensive income	-33,816	52,511
Accumulated deficit	-252,059	-250,965
Total shareholders' equity	585,876	616,710
Total liabilities and shareholders’ equity	4,217,137	4,280,229
Series A Preferred Stock [Member]	'	'
Shareholders’ equity:	'	'
Preferred Stock	55,407	55,407
Series B Preferred Stock [Member]	'	'
Shareholders’ equity:	'	'
Preferred Stock	$54,251	$0

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
ASSETS	'	'
Pledged MBS	$3,873,584	$3,967,134
Common stock, par value	$0.01	$0.01
Common Stock, Shares Authorized	200,000,000	100,000,000
Common Stock, Shares, Issued	54,310,484	54,268,915
Common stock, shares outstanding	54,310,484	54,268,915
Series A Preferred Stock [Member]	'	'
ASSETS	'	'
Preferred Stock, Par Value Per Share	$0.01	$0.01
Preferred Stock, Shares Authorized	8,000,000	8,000,000
Preferred Stock, Shares Issued	2,300,000	2,300,000
Preferred Stock, Shares Outstanding	2,300,000	2,300,000
Preferred Stock, aggregate liquidation preference	57,500	57,500
Series B Preferred Stock [Member]	'	'
ASSETS	'	'
Preferred Stock, Par Value Per Share	$0.01	$0
Preferred Stock, Shares Authorized	7,000,000	0
Preferred Stock, Shares Issued	2,250,000	0
Preferred Stock, Shares Outstanding	2,250,000	0
Preferred Stock, aggregate liquidation preference	$56,250	$0

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Interest income:	'	'	'
Mortgage-backed securities	$123,629	$107,728	$75,639
Securitized mortgage loans	3,436	5,395	7,615
Other investments	67	425	123
Total interest income	127,132	113,548	83,377
Interest expense:	'	'	'
Repurchase agreements	38,102	33,789	19,569
Non recourse collateralized financing	926	1,358	4,513
Total interest expense	39,028	35,147	24,082
Net interest income	88,104	78,401	59,295
Provision for loan losses	-261	-192	-871
Net interest income after provision for loan losses	87,843	78,209	58,424
Litigation settlement and related costs	'	'	-8,240
Loss on non-recourse collateralized financing	0	0	-1,970
Loss on derivative instruments, net	-10,076	-908	-2,825
Gain on sale of investments, net	3,354	8,461	2,096
Fair value adjustments, net	-652	735	2,149
Other income, net	658	281	134
General and administrative expenses:	'	'	'
Compensation and benefits	-7,004	-7,635	-5,321
Other general and administrative	-6,054	-5,101	-4,635
Net income	68,069	74,042	39,812
Preferred Stock Dividends	-7,902	-2,036	0
Net income to common shareholders	$60,167	$72,006	$39,812
Weighted average common shares:	'	'	'
Basic	54,647,643	53,146,416	38,579,780
Diluted	54,647,643	53,146,416	38,580,579
Net income per common share:	'	'	'
Basic Net Income Per Common Share	$1.10	$1.35	$1.03
Diluted Net Income Per Common Share	$1.10	$1.35	$1.03

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Net Income	$68,069	$74,042	$39,812
Change in fair value of available-for-sale securities	-113,343	75,377	11,408
Reclassification adjustment for gain on sale of investments, net included in statement of income	-3,354	-5,319	-2,096
Change in fair value of cash flow hedges	16,381	-28,740	-34,228
Reclassification adjustment for cash flows hedges included in statement of income	13,989	14,448	11,604
Other comprehensive income (loss)	-86,327	55,766	-13,312
Total comprehensive income	-18,258	129,808	26,500
Preferred Stock Dividends	-7,902	-2,036	0
Comprehensive Income to Common Shareholders	($26,160)	$127,772	$26,500

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating activities:	'	'	'
Net Income	$68,069	$74,042	$39,812
Adjustments to reconcile net income to cash provided by operating activities:	'	'	'
Decrease (increase) in accrued interest receivable	-1,370	10,464	6,504
(Decrease) increase in accrued interest payable	-347	730	1,086
Provision for loan losses	261	192	871
Loss on derivative instruments, net	-10,076	-908	-2,825
Gain on sale of investments, net	3,354	8,461	2,096
Loss on non-recourse collateralized financing	0	0	1,970
Fair value adjustments, net	-652	735	2,149
Amortization and depreciation	136,608	90,530	32,505
Stock-based compensation expense	2,314	1,712	783
Net change in other assets and other liabilities	6,889	-934	-1,538
Net cash and cash equivalents provided by operating activities	208,760	149,388	70,641
Investing activities:	'	'	'
Purchase of investments	1,419,060	2,639,909	1,606,819
Principal payments received on investments	913,210	679,635	468,401
Proceeds from sales of investments	358,090	231,145	184,688
Principal payments received on securitized mortgage loans	15,828	40,830	37,556
Net payments on derivatives not designated as hedges	39,097	0	0
Other investing activities	-5,891	2,893	-419
Net cash and cash equivalents used in investing activities	-165,138	-1,691,192	-915,755
Financing activities:	'	'	'
Borrowings under repurchase agreements, net	16,209	1,470,995	859,610
Deferred borrowing costs paid	0	825	0
Principal payments on non-recourse collateralized financing	-17,840	-40,626	-15,296
Cash paid to redeem securitization financing bond	0	0	23,669
Increase in restricted cash	13,346	0	0
Proceeds from issuance of preferred stock	54,251	55,407	0
Proceeds from issuance of common stock	7,436	123,868	95,282
Cash paid for repurchases of common stock	6,934	921	0
Payments Related to Tax Withholding for Share-based Compensation	545	0	0
Dividends paid	69,332	59,061	40,873
Net cash and cash equivalents provided by (used in) financing activities	-30,101	1,548,837	875,054
Net increase (decrease) in cash and cash equivalents	13,521	7,033	29,940
Cash and cash equivalents at beginning of period	55,809	48,776	18,836
Cash and cash equivalents at end of period	69,330	55,809	48,776
Supplemental Disclosure of Cash Activities:	'	'	'
Cash paid for interest	$33,517	$34,035	$22,110

Consolidated_Statements_of_Sha

Consolidated Statements of Shareholders' Equity Statement (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Total shareholders' equity	$585,876	$616,710	$371,349	$292,357
Stock issuance	62,014	179,686	95,424	'
Granting and vesting of restricted stock	2,379	1,723	1,198	'
Capitalized expenses associated with stock issuances	327	-411	-142	'
Common stock repurchased	-6,933	-921	'	'
Common stock forfeited for payroll tax purposes	-546	'	'	'
Net Income	68,069	74,042	39,812	'
Dividends on preferred stock	-7,902	-2,036	'	'
Dividends on common stock	-61,261	-62,488	-43,988	'
Other comprehensive income (loss)	-86,327	55,766	-13,312	'
Preferred Stock Including Additional Paid in Capital [Member]	'	'	'	'
Total shareholders' equity	109,658	55,407	0	0
Stock issuance	54,459	55,689	'	'
Capitalized expenses associated with stock issuances	208	-282	'	'
Common Stock [Member]	'	'	'	'
Total shareholders' equity	543	543	404	303
Stock issuance	7	138	97	'
Granting and vesting of restricted stock	3	2	4	'
Common stock repurchased	-9	-1	'	'
Common stock forfeited for payroll tax purposes	-1	'	'	'
Additional Paid-in Capital [Member]	'	'	'	'
Total shareholders' equity	761,550	759,214	634,683	538,304
Stock issuance	7,548	123,859	95,327	'
Granting and vesting of restricted stock	2,376	1,721	1,194	'
Capitalized expenses associated with stock issuances	-119	-129	-142	'
Common stock repurchased	-6,924	-920	'	'
Common stock forfeited for payroll tax purposes	-545	'	'	'
Accumulated Other Comprehensive Income (Loss) [Member]	'	'	'	'
Total shareholders' equity	-33,816	52,511	-3,255	10,057
Other comprehensive income (loss)	86,327	55,766	13,312	'
Accumulated Deficit [Member]	'	'	'	'
Total shareholders' equity	-252,059	-250,965	-260,483	-256,307
Net Income	68,069	74,042	39,812	'
Dividends on preferred stock	-7,902	-2,036	'	'
Dividends on common stock	($61,261)	($62,488)	($43,988)	'

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization
	Dynex Capital, Inc., ("Company”) was incorporated in the Commonwealth of Virginia on December 18, 1987 and commenced operations in February 1988. The Company primarily earns income from investing on a leveraged basis in mortgage-backed securities ("MBS") that are issued or guaranteed by the U.S. Government or U.S. Government sponsored agencies ("Agency MBS") and MBS issued by others ("non-Agency MBS").
	Basis of Presentation
	The accompanying consolidated financial statements of Dynex Capital, Inc. and its qualified real estate investment trust ("REIT") subsidiaries and its taxable REIT subsidiary (together, "Dynex" or the "Company") have been prepared in accordance with the generally accepted accounting principles in the United States ("GAAP") and the instructions to the Annual Report on Form 10-K and Article 3 of Regulation S-X promulgated by the Securities and Exchange Commission (the "SEC").
	Reclassifications
	Certain items in the prior years' consolidated financial statements have been reclassified to conform to the current year’s presentation. The Company’s consolidated balance sheet as of December 31, 2012 now presents its Agency and non-Agency mortgage-backed securities as "mortgage-backed securities, at fair value". The Company's consolidated statements of net income for the years ended December 31, 2012 and December 31, 2011 now present interest income from Agency and non-Agency mortgage-backed securities together as "interest income: mortgage-backed securities". In addition, changes in fair value and other activity related to the Company's derivative instruments have been reclassified from "fair value adjustments, net" to "loss on derivative instruments, net". As a result, the respective amounts on the Company's consolidated statements of cash flow for the years ended December 31, 2012 and December 31, 2011 have been changed to reflect this reclassification. These presentation changes have no effect on reported total assets, total liabilities, results of operations, or cash flow activities.
	Consolidation
	The consolidated financial statements include the accounts of the Company, its qualified REIT subsidiaries and its taxable REIT subsidiary.  The consolidated financial statements represent the Company’s accounts after the elimination of intercompany balances and transactions.  The Company consolidates entities in which it owns more than 50% of the voting equity and control does not rest with others and variable interest entities in which it is determined to be the primary beneficiary in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810-10. The Company follows the equity method of accounting for investments in which it owns greater than a 20% and less than 50% interest in partnerships and corporate joint ventures or when it is able to influence the financial and operating policies of the investee but owns less than 50% of the voting equity. The Company did not have any investments in which it owned less than a 50% interest in the voting equity as of December 31, 2013 or December 31, 2012.
	In accordance with ASC Topic 810-10, the Company also consolidates certain trusts through which it has securitized mortgage loans. Additional information regarding the accounting policy for securitized mortgage loans is provided below under "Investments".
	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 and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenue and expenses during the reported period.  Actual results could differ from those estimates.  The most significant estimates used by management include but are not limited to fair value measurements of its investments, allowance for loan losses, other-than-temporary impairments, contingencies, and amortization of premiums and discounts. These items are discussed further below within this note to the consolidated financial statements.
	Federal Income Taxes
	The Company believes it has complied with the requirements for qualification as a REIT under the Internal Revenue Code of 1986, as amended (the "Code").  As such, the Company believes that it qualifies as a REIT for federal income tax purposes, and it generally will not be subject to federal income tax on the amount of its income or gain that is distributed as dividends to shareholders.  The Company uses the calendar year for both tax and financial reporting purposes.  There may be differences between taxable income and income computed in accordance with GAAP.
	Mortgage-Backed Securities
	In accordance with ASC Topic 320, the Company has designated the majority of its investments in MBS as available-for-sale ("AFS"), and the remainder is designated as trading. All of the Company’s MBS are recorded at their fair value on its consolidated balance sheet. Changes in fair value for the Company's AFS securities are reported in other comprehensive income ("OCI") until the security is collected, disposed of, or determined to be other than temporarily impaired. Although the Company generally intends to hold its AFS securities until maturity, it may, from time to time, sell any of these securities as part of the overall management of its business. Upon the sale of an AFS security, any unrealized gain or loss is reclassified out of accumulated other comprehensive income ("AOCI") into net income as a realized "gain (loss) on sale of investments, net" using the specific identification method. Changes in the fair value of MBS designated as trading are recognized in net income within "fair value adjustments, net". Gains and losses realized upon the sale, impairment, or other disposal of a trading security are also recognized within "fair value adjustments, net".
	The Company’s MBS pledged as collateral against repurchase agreements and derivative instruments are included in MBS on the consolidated balance sheets with the fair value of the MBS pledged disclosed parenthetically.
	Interest Income, Premium Amortization, and Discount Accretion. Interest income on MBS is accrued based on the outstanding principal balance (or notional balance in the case of interest-only, or "IO", securities) and their contractual terms.  Premiums and discounts on Agency MBS as well as any non-Agency MBS rated AA and higher at the time of purchase are amortized into interest income over the expected life of such securities using the effective yield method and adjustments to premium amortization are made for actual prepayment activity as well as changes in projected future cash flows in accordance with ASC Topic 310-20. The Company's projections of future cash flows are based on input and analysis received from external sources and internal models, and includes assumptions about the amount and timing of credit losses, loan prepayment rates, fluctuations in interest rates, and other factors. On at least a quarterly basis, the Company reviews and makes any necessary adjustments to its cash flow projections and updates the yield recognized on these assets.
	The Company has purchased non-Agency MBS rated less than 'AA' by at least one national rating agency at discounts to their par value, and management does not believe these discounts to be substantial. The Company records the discount accretion into income over the security's expected life, which reflects management's estimate of the security's projected cash flows in accordance with ASC Topic 325-40. Future changes in projected cash flows or differences arising between projected cash flows and actual cash flows received may result in a prospective change in the effective yield on those securities.
	The accrual of interest on MBS is discontinued when, in the opinion of management, it is probable that all amounts contractually due will not be collected, and in certain instances, as a result of an other-than-temporary impairment analysis ("OTTI", see discussion below). All interest accrued but not collected for investments that are placed on a non-accrual status or are charged-off is reversed against interest income. Interest on these investments is accounted for on the cash-basis or cost-recovery method until the affected investment or investments qualify for return to accrual status. Investments are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
	Determination of MBS Fair Value. In accordance with ASC Topic 820, the Company determines the fair value for the majority of its MBS based upon prices obtained from third-party pricing services and broker quotes. The remainder of the Company's MBS are valued by discounting the estimated future cash flows derived from cash flow models that utilize information such as the security's coupon rate, estimated prepayment speeds, expected weighted average life, collateral composition, estimated future interest rates, expected losses, and credit enhancements as well as certain other relevant information. The Company's application of ASC Topic 820 guidance is discussed further in Note 9.
	Other-than-Temporary Impairment. The Company evaluates all MBS in its investment portfolio for other-than-temporary impairments ("OTTI") by comparing the amortized cost of each security in an unrealized loss position against the present value of expected future cash flows of the security. If there has been a significant adverse change in the cash flow expectations for a security resulting in its amortized cost becoming greater than the present value of its expected future cash flows, an other-than-temporary credit impairment has occurred. If the Company does not intend to sell and is not more likely than not required to sell the security, the credit loss is recognized in earnings and the balance of the unrealized loss is recognized in other comprehensive income (loss). If the Company intends to sell the security or will be more likely than not required to sell the security, the full unrealized loss is recognized in earnings.
	In periods after the recognition of an OTTI for MBS, the Company accounts for the other-than-temporarily impaired MBS as if the MBS had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For MBS for which OTTIs were recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected shall be accreted into interest income using the effective interest method. The Company continues to estimate the present value of cash flows expected to be collected over the life of the MBS. If upon subsequent evaluation, there is an increase in the cash flows expected to be collected or if actual cash flows are greater than cash flows previously expected, such changes shall be accounted for as a prospective adjustment to the accretable yield in accordance with ASC Topic 310-30. Please see Note 3 for additional information related to the Company's evaluation for OTTI.
	Securitized Mortgage Loans
	Securitized mortgage loans consist of loans pledged to support the repayment of securitization financing bonds issued by the Company. The associated securitization financing bonds are treated as debt of the Company and are presented as a portion of "non-recourse collateralized financing" on the consolidated balance sheet. In accordance with ASC Topic 310-10, the Company's securitized mortgage loans are reported at amortized cost. Securitized mortgage loans can only be sold subject to the lien of the respective securitization financing indenture. An allowance has been established for currently existing and probable losses on such loans in accordance with ASC Topic 310-10.
	Other Investments
	Other investments primarily consist of unsecuritized mortgage loans owned by the Company which are accounted for using the cost method in accordance with ASC Topic 325-20. Management evaluates the need for an allowance for loan losses on these unsecuritized mortgage loans in accordance with ASC Topic 310-10 on at least a quarterly basis.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of three months or less.
	Restricted Cash
	Restricted cash consists of cash the Company has pledged to cover initial and variation margin with its counterparties.
	Repurchase Agreements
	Repurchase agreements are treated as financings in accordance with the provision of ASC Topic 860 under which the Company pledges its securities as collateral to secure a loan, which is equal in value to a specified percentage of the estimated fair value of the pledged collateral. The Company retains beneficial ownership of the pledged collateral. At the maturity of a repurchase agreement, the Company is required to repay the loan and concurrently receives back its pledged collateral from the lender or, with the consent of the lender, the Company may renew the agreement at the then prevailing financing rate. A repurchase agreement lender may require the Company to pledge additional collateral in the event of a decline in the fair value of the collateral pledged.  Repurchase agreement financing is recourse to the Company and the assets pledged. Most of the Company’s repurchase agreements are based on the September 1996 version of the Bond Market Association Master Repurchase Agreement, which generally provides that the lender, as buyer, is responsible for obtaining collateral valuations from a generally recognized source agreed to by both the Company and the lender, or, in an instance when such source is not available, the value determination is made by the lender.
	Derivative Instruments
	The Company accounts for its derivative instruments in accordance with ASC Topic 815. ASC Topic 815 requires an entity to recognize all derivatives as either assets or liabilities in the balance sheet and to measure those instruments at fair value.
	Effective June 30, 2013, the Company discontinued cash flow hedge accounting for derivative instruments which had previously been accounted for as cash flow hedges under ASC Topic 815. Activity up to and including June 30, 2013 for those agreements previously designated as cash flow hedges was recorded in accordance with cash flow hedge accounting as prescribed by ASC Topic 815, which states that the effective portion of the hedge relationship on an instrument designated as a cash flow hedge is reported in the current period's other comprehensive income while the ineffective portion is immediately reported in the current period’s consolidated statement of net income. The balance remaining in AOCI related to the de-designated cash flow hedges is being recognized in the Company's consolidated statement of net income as a portion of "interest expense" over the remaining life of the interest rate swap agreements. Subsequent to June 30, 2013, changes in the fair value of the Company's derivative instruments, plus periodic settlements, are recorded in the Company's consolidated statement of net income as a portion of "loss on derivative instruments, net".
	The Company has Eurodollar futures, which are valued based on closing exchange prices. Variation margin is exchanged daily to settle any changes in the value of the Eurodollar futures. Gains and losses associated with purchases and short sales of futures contracts are reported in "(loss) gain on derivative instruments, net" in our consolidated statements of net income.
	The Company has elected to use the portfolio exception in ASC 820-10-35-18D with respect to measuring counterparty credit risk for derivative instruments. The Company manages credit risk for its derivative positions on a counterparty-by-counterparty basis (that is, on the basis of its net portfolio exposure with each counterparty), consistent with its risk management strategy for such transactions. The Company manages credit risk by considering indicators of risk such as credit ratings, and by negotiating terms in its ISDA master netting arrangements and, if applicable, any associated Credit Support Annex documentation, with each individual counterparty. Since the effective date of ASC 820, management has monitored and measured credit risk and calculated credit valuation adjustments for its derivative transactions on the basis of its relationships at the counterparty portfolio level. Management receives reports from an independent third-party valuation specialist on a monthly basis providing the credit valuation adjustments at the counterparty portfolio level for purposes of reviewing and managing its credit risk exposures. Since the portfolio exception applies only to the fair value measurement and not to financial statement presentation, the portfolio-level adjustments are then allocated in a reasonable and consistent manner each period to the individual assets or liabilities that make up the group, in accordance with other applicable accounting guidance and the Company's accounting policy elections.
	Although MBS have characteristics that meet the definition of a derivative instrument, ASC 815 specifically excludes these instruments from its scope because they are accounted for as debt securities under ASC 320.
	Stock-Based Compensation
	Pursuant to the Company’s 2009 Stock and Incentive Plan ("SIP"), the Company may grant stock-based compensation to eligible employees, directors or consultants or advisers to the Company, including stock awards, stock options, stock appreciation rights (“SARs”), dividend equivalent rights, performance shares, and restricted stock units.  Currently, the Company's stock options and restricted stock issued under this plan may be settled only in shares of its common stock, and therefore are treated as equity awards with their fair value measured at the grant date as required by ASC Topic 718. Outstanding SARs issued by the Company may be settled only in cash, and therefore have been treated as liability awards with their fair value estimated at the grant date and remeasured at the end of each reporting period using the Black-Scholes option valuation model as required by ASC Topic 718.  Please see Note 10 for additional disclosures regarding the Company's SIP.
	Contingencies
	In the normal course of business, there are various lawsuits, claims, and other contingencies pending against the Company.  We evaluate whether to establish provisions for estimated losses from those matters in accordance with ASC Topic 450, which states that a liability is recognized for a contingent loss when: (a) the underlying causal event has occurred prior to the balance sheet date; (b) it is probable that a loss has been incurred; and (c) there is a reasonable basis for estimating that loss. A liability is not recognized for a contingent loss when it is only possible or remotely possible that a loss has been incurred, however, possible contingent losses shall be disclosed. Please refer to Note 12 for details on the most significant matters currently pending.
	Recent Accounting Pronouncements
	In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815), Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes(a consensus of the FASB Emerging Issues Task Force) ("ASU 2013-10"). The new guidance permits the use of the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting purposes and removes certain restrictions on being able to apply hedge accounting for similar hedges using different benchmark interest rates. ASU 2013-10 is effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. The adoption of this ASU does not have an impact on our derivatives and will not have a material impact on the Company's consolidated financial statements.
	In June 2013, the FASB issued ASU 2013-08, Financial Services - Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements ("ASU 2013-08"). In general, the amendments of this ASU: (i) revise the definition of an investment company; (ii) require an investment company to measure non-controlling ownership interests in other investment companies at fair value rather than using the equity method of accounting; and (iii) require information to be disclosed concerning the status of the entity and any financial support provided, or contractually required to be provided, by the investment company to its investees. ASU 2013-08 is effective for interim and annual periods that begin after December 15, 2013 and early application is prohibited. As the FASB has decided to retain the current U.S. GAAP scope exception from investment company accounting and financial reporting for real estate investment trusts, the adoption of this ASU will not have a material impact on the Company's consolidated financial statements.

Net_Income_Per_Common_Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2013
Earnings Per Share, Basic and Diluted [Abstract]	'
Net Income per Common Share	'
	NET INCOME PER COMMON SHARE
	Net income per common share is presented on both a basic and diluted basis.  Diluted net income per common share assumes the exercise of stock options, if any were outstanding during the period presented, using the treasury stock method. Because the Company's Series A Cumulative Redeemable Preferred Stock and Series B Cumulative Redeemable Preferred Stock are redeemable at the Company's option for cash only, and may convert into shares of common stock only upon a change of control of the Company, the effect of those shares is excluded from the calculation of diluted net income per common share.
	Holders of unvested shares of our issued and outstanding restricted common stock are eligible to receive non-forfeitable dividends. As such, these unvested shares are considered participating securities as per ASC 260-10 and therefore are included in the computation of basic net income per share using the two-class method. Upon vesting, restrictions on transfer expire on each share of restricted stock, and each such share of restricted is converted to one equal share of common stock.
	The following table presents the calculation of the numerator and denominator for both basic and diluted net income per common share for the periods indicated:
		For the Year Ended December 31,
		2013					2012					2011
		Net			Weighted-Average Common Shares		Net			Weighted-		Net		Weighted-
		Income					Income			Average		Income		Average
										Common				Common
										Shares				Shares
	Net income	$	68,069				$	74,042				$	39,812
	Preferred stock dividends	(7,902		)			(2,036		)			—
	Net income to common shareholders	60,167			54,647,643		72,006			53,146,416		39,812		38,579,780
	Effect of dilutive stock options	—			—		—			—		—		799
	Diluted	$	60,167		54,647,643		$	72,006		53,146,416		$	39,812	38,580,579
	Net income per common share:
	Basic				$	1.1				$	1.35			$	1.03
	Diluted (1)				$	1.1				$	1.35			$	1.03
	-1	For the years ended December 31, 2012 and 2011, the calculation of diluted net income per common share excludes the effect of 15,000 unexercised stock option awards because their inclusion would have been anti-dilutive.

Mortgage_Backed_Securities_Mor

Mortgage Backed Securities Mortgage backed securities (Notes)	12 Months Ended
	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'
Mortgage-backed securities	'
	MORTGAGE-BACKED SECURITIES
	The following table presents the components and weighted average coupon ("WAC") for the portion of the Company’s MBS designated as AFS as of December 31, 2013 and December 31, 2012:
		December 31, 2013
		Par		Net Premium (Discount)			Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss			Fair Value		WAC
	Agency:
	RMBS	$	2,591,568	$	154,220		$	2,745,788			$	6,104			$	(59,742	)	$	2,692,150	3.22	%
	CMBS	273,830		19,061			292,891				10,793				(900		)	302,784		5.07	%
	CMBS IO (1)	—		453,766			453,766				9,895				(3,334		)	460,327		0.83	%
	Total Agency AFS:	2,865,398		627,047			3,492,445				26,792				(63,976		)	3,455,261
	Non-Agency:
	RMBS	13,845		(338		)	13,507				338				(80		)	13,765		4.61	%
	CMBS	375,703		(18,277		)	357,426				15,366				(3,511		)	369,281		5.1	%
	CMBS IO (1)	—		150,518			150,518				2,618				(1,999		)	151,137		0.66	%
	Total non-Agency AFS:	389,548		131,903			521,451				18,322				(5,590		)	534,183
	Total AFS securities	$	3,254,946	$	758,950		$	4,013,896			$	45,114			$	(69,566	)	$	3,989,444
	-1	The notional balance for Agency CMBS IO and non-Agency CMBS IO is $10,160,502 and $4,274,957, respectively, as of December 31, 2013.
		31-Dec-12
		Par		Net Premium (Discount)			Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss			Fair Value		WAC
	Agency:
	RMBS	$	2,425,826	$	137,168		$	2,562,994			$	19,477			$	(11,134	)	$	2,571,337	3.67	%
	CMBS	280,602		21,907			302,509				21,570				(6		)	324,073		5.19	%
	CMBS IO (1)	—		550,171			550,171				18,218				(1,209		)	567,180		0.95	%
	Total Agency AFS:	2,706,428		709,246			3,415,674				59,265				(12,349		)	3,462,590
	Non-Agency:
	RMBS	11,411		(781		)	10,630				606				(198		)	11,038		4.28	%
	CMBS	463,747		(17,313		)	446,434				39,944				(36		)	486,342		5.31	%
	CMBS IO (1)	—		108,928			108,928				5,054				(40		)	113,942		0.86	%
	Total non-Agency AFS:	475,158		90,834			565,992				45,604				(274		)	611,322
	Total AFS securities	$	3,181,586	$	800,080		$	3,981,666			$	104,869			$	(12,623	)	$	4,073,912
	-1	The notional balance for the Agency CMBS IO and non-Agency CMBS IO is $10,059,495 and $2,393,614, respectively, as of December 31, 2012.
	The Company has investments in additional Agency CMBS not included in the tables above that are designated as trading securities by the Company with fair values of $28,717 and $30,069 as of December 31, 2013 and December 31, 2012, respectively. Changes in the fair value of these Agency CMBS are recognized each reporting period within "fair value adjustments, net" in the Company's consolidated statements of net income. As of December 31, 2013 and December 31, 2012, the amortized cost of these Agency CMBS designated as trading securities was $26,920 and $27,535, respectively. The Company recognized a net unrealized loss for the year ended December 31, 2013 of $(652) compared to a net unrealized gain of $735 for the year ended December 31, 2012, respectively, related to changes in fair value.
	The following table presents certain information for those Agency MBS in an unrealized loss position as of December 31, 2013 and December 31, 2012:
		31-Dec-13							31-Dec-12
		Fair Value		Gross Unrealized Losses			# of Securities		Fair Value				Gross Unrealized Losses				# of Securities
	Continuous unrealized loss position for less than 12 months:
	Agency MBS	$	1,912,937	$	(43,543	)	150		$	1,026,277			$	(6,552	)		83
	Non-Agency MBS	162,558		(5,435		)	39		13,877				(76		)		3
	Continuous unrealized loss position for 12 months or longer:
	Agency MBS	$	670,402	$	(20,433	)	67		$	271,719			$	(5,797	)		34
	Non-Agency MBS	6,310		(155		)	6		2,701				(198		)		8
	Because the principal and interest related to Agency MBS are guaranteed by the government-sponsored entities Fannie Mae and Freddie Mac who have the implicit guarantee of the U.S. government, the Company does not consider any of the unrealized losses on its Agency MBS to be credit related. Although the unrealized losses are not credit related, the Company assesses its ability and intent to hold any Agency MBS with an unrealized loss until the recovery in its value. This assessment is based on the amount of the unrealized loss and significance of the related investment as well as the Company’s current leverage and anticipated liquidity.  Based on this analysis, the Company has determined that the unrealized losses on its Agency MBS as of December 31, 2013 and December 31, 2012 were temporary.
	The Company also reviews any non-Agency MBS in an unrealized loss position to evaluate whether any decline in fair value represents an other-than-temporary impairment. The evaluation includes a review of the credit ratings of these non-Agency MBS and the seasoning of the mortgage loans collateralizing these securities as well as the estimated future cash flows which include projected losses. The Company performed this evaluation for the non-Agency MBS in an unrealized loss position and has determined that there have not been any adverse changes in the timing or amount of estimated future cash flows that necessitate a recognition of other-than-temporary impairment amounts as of December 31, 2013 or December 31, 2012.

Securitized_Mortgage_Loans_Not

Securitized Mortgage Loans (Notes)	12 Months Ended
	Dec. 31, 2013
Securitized Mortgage Loans [Abstract]	'
Securitized Mortgage Loans	'
	SECURITIZED MORTGAGE LOANS, NET
	The Company's securitized mortgage loans are pledged as collateral for its associated securitization financing bonds, which are discussed further in Note 7. The following table summarizes the components of securitized mortgage loans, net of allowance for loan losses as of December 31, 2013 and December 31, 2012:
		31-Dec-13									31-Dec-12
		Commercial			Single-family			Total			Commercial			Single-family			Total
	Principal/par value (1)	$	21,442		$	34,191		$	55,633		$	30,576		$	41,337		$	71,913
	Unamortized (discount) premium	(1,126		)	498			(628		)	(1,267		)	616			(651		)
	Amortized cost	20,316			34,689			55,005			29,309			41,953			71,262
	Allowance for loan losses	(102		)	(155		)	(257		)	(150		)	(289		)	(439		)
		$	20,214		$	34,534		$	54,748		$	29,159		$	41,664		$	70,823
	(1)	Includes funds held by trustees.
	The following table presents a summary of the changes in the carrying value of the Company's securitized mortgage loans, net for the year ended December 31, 2013:
		For the Year Ended
		31-Dec-13
		Commercial			Single-Family			Total
	Balance beginning of the period	$	29,159		$	41,664		$	70,823
	Principal repayments	(9,134		)	(7,146		)	(16,280		)
	Accretion (amortization) of discount (premium)	141			(118		)	23
	(Recoveries) charge-offs, net	(8		)	451			443
	Provision for loan losses	56			(317		)	(261		)
	Balance end of period	$	20,214		$	34,534		$	54,748
	The Company's securitized commercial mortgage loans were originated principally in 1996 and 1997 and are collateralized by first deeds of trust on income producing properties and are evaluated individually for impairment when the debt service coverage ratio on the mortgage loan is less than 1:1 or when the mortgage loan is delinquent. Commercial mortgage loans not evaluated for individual impairment are evaluated for a general allowance. As of December 31, 2013 and December 31, 2012, the loan-to-value ratio based on original appraisal was 55% and 48%, respectively. There were no securitized commercial mortgage loans identified as seriously delinquent (60 or more days past due) or on nonaccrual status on the Company's consolidated balance sheets as of December 31, 2013 or as of December 31, 2012.
	The Company's securitized single-family mortgage loans are secured by first deeds of trust on residential real estate and were originated principally from 1992 to 1997. Single-family mortgage loans are considered homogeneous and are evaluated on a pool basis for a general allowance. As of December 31, 2013 and December 31, 2012, the current loan-to-value ratio based on original appraisal was approximately 41% and 43%, respectively. The unpaid principal balance of the Company's securitized single-family mortgage loans identified as seriously delinquent as of December 31, 2013 is $2,758 compared to $3,380 as of December 31, 2012. The Company continues accruing interest on any seriously delinquent securitized single-family mortgage loan so long as the primary servicer continues to advance the interest and/or principal due on the loan.
	The Company considers various factors in determining its specific and general allowance requirements, including whether a loan is delinquent, the Company’s historical experience with similar types of loans, historical cure rates of delinquent loans, and historical and anticipated loss severity of the mortgage loans as they are liquidated. The factors may differ by mortgage loan type (e.g., single-family versus commercial) and collateral type (e.g., multifamily versus office property). The allowance for loan losses is evaluated and adjusted periodically by management based on the actual and estimated timing and amount of probable credit losses, using the above factors, as well as industry loss experience.

Repurchase_Agreements

Repurchase Agreements	12 Months Ended
	Dec. 31, 2013
REPURCHASE AGREEMENTS [Abstract]	'
Repurchase Agreements	'
	REPURCHASE AGREEMENTS
	The following tables present the components of the Company’s repurchase agreements as of December 31, 2013 and December 31, 2012 by the fair value and type of securities pledged as collateral to the repurchase agreements:
		December 31, 2013
	Collateral Type	Balance			Weighted		Fair Value of
					Average Rate		Collateral Pledged
	Agency RMBS	$	2,522,503		0.42	%	2,598,158
	Agency CMBS	246,849			0.39	%	306,318
	Agency CMBS IOs	369,948			1.16	%	449,072
	Non-Agency RMBS	10,569			1.8	%	12,746
	Non-Agency CMBS	303,674			1.27	%	367,859
	Non-Agency CMBS IO	106,803			1.27	%	136,227
	Securitization financing bonds	20,651			1.59	%	19,686
	Deferred costs	(243		)	n/a		n/a
		$	3,580,754		0.61	%	$	3,890,066
		December 31, 2012
	Collateral Type	Balance			Weighted		Fair Value of Collateral Pledged
					Average Rate
	Agency RMBS	$	2,365,982		0.48	%	$	2,458,200
	Agency CMBS	248,771			0.47	%	291,445
	Agency CMBS IOs	443,540			1.22	%	565,494
	Non-Agency RMBS	7,808			1.84	%	9,634
	Non-Agency CMBS	382,352			1.34	%	465,306
	Non-Agency CMBS IOs	88,221			1.46	%	113,942
	Securitization financing bonds	28,113			1.64	%	31,483
	Deferred costs	(659		)	n/a		n/a
		$	3,564,128		0.7	%	$	3,935,504
	The combined weighted average original term to maturity for the Company’s repurchase agreements increased to 114 days as of December 31, 2013 from 67 days as of December 31, 2012. The Company has been able to extend the average term to maturity of its repurchase agreements due to discontinuing cash flow hedge accounting effective June 30, 2013. The following table provides a summary of the original maturities as of December 31, 2013 and December 31, 2012:
	Original Maturity	December 31,			December 31,
		2013			2012
	30 days or less	$	206,112		$	622,957
	31 to 60 days	492,145			1,263,105
	61 to 90 days	665,020			298,660
	91 to 120 days	783,371			1,092,681
	121 to 190 days	1,434,349			287,384
		$	3,580,997		$	3,564,787
	As of December 31, 2013, the Company had approximately $91,769 of its shareholders' equity at risk (defined as the excess of collateral pledged over the borrowing outstanding) with Wells Fargo Bank National Association together with its affiliate Wells Fargo Securities, LLC. The borrowings outstanding with that counterparty and its affiliates as of December 31, 2013 were $371,753 with a weighted average borrowing rate of 1.21%. Of the amount outstanding with this counterparty and its affiliate, $171,769 is under a two-year repurchase facility with Wells Fargo Bank National Association. The facility provides an aggregate maximum borrowing capacity of $250,000 and matures on August 6, 2015, subject to early termination provisions contained in the master repurchase agreement. The facility is collateralized primarily by CMBS IO, and its weighted average borrowing rate as of December 31, 2013 was 1.43%. Shareholders' equity at risk did not exceed 10% for any of the Company's other counterparties.
	As of December 31, 2013, the Company had repurchase agreement amounts outstanding with 22 of its 31 available counterparties. The Company's counterparties, as set forth in the master repurchase agreement with the counterparty, require the Company to comply with various customary operating and financial covenants, including, but not limited to, minimum net worth, maximum declines in net worth in a given period, and maximum leverage requirements as well as maintaining the Company's REIT status.  In addition, some of the agreements contain cross default features, whereby default under an agreement with one lender simultaneously causes default under agreements with other lenders.  To the extent that the Company fails to comply with the covenants contained in these financing agreements or is otherwise found to be in default under the terms of such agreements, the counterparty has the right to accelerate amounts due under the master repurchase agreement. The Company was in compliance with all covenants as of December 31, 2013.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives	'
	DERIVATIVES
	The Company utilizes a variety of derivative instruments to economically hedge a portion of its exposure to market risks, primarily interest rate risk. The principal instruments used to hedge these risks are interest rate swaps and Eurodollar futures. The objective of the Company's risk management strategy is to protect the Company's earnings from rising interest rates and to mitigate declines in book value resulting from fluctuations in the fair value of the Company's assets from changing interest rates. The Company seeks to limit its exposure to changes in interest rates but does not seek to eliminate this risk.
	Effective June 30, 2013, the Company voluntarily discontinued hedge accounting for interest rate swaps which had previously been accounted for as cash flow hedges under GAAP. The Company discontinued cash flow hedge accounting for its interest rate swap agreements in order to gain greater flexibility in managing the maturities of its repurchase agreement borrowings. In addition, the Company began purchasing Eurodollar futures during the third quarter of 2013. Please refer to Note 1 for additional information related to the Company's accounting policy for its derivative instruments.
	The table below summarizes information about the Company’s derivative instruments on its consolidated balance sheet as of the dates indicated:
							December 31, 2013
	Type of Derivative Instrument		Accounting Designation		Balance Sheet Location:		Fair Value			Aggregate Notional Amount
	Interest rate swaps		Non-hedging		Derivative assets		$	18,488		$	575,000
	Interest rate swaps		Non-hedging				$	(1,336	)	$	215,000
	Eurodollar futures		Non-hedging				(5,345		)	9,000,000
					Derivative liabilities		$	(6,681	)	$	9,215,000
							31-Dec-12
	Type of Derivative Instrument		Accounting Designation		Balance Sheet Location:		Fair Value			Aggregate Notional Amount
	Interest rate swaps		Hedging				$	(39,813	)	$	1,435,000
	Interest rate swaps		Non-hedging				(2,724		)	27,000
					Derivative liabilities		$	(42,537	)	$	1,462,000
	The following table summarizes activity related to derivative instruments for the periods indicated:
	(amounts in thousands)	Interest Rate Swaps				Eurodollar Futures
	Notional amount as of December 31, 2012:	$	1,462,000			$	—
	Additions:	380,000				20,250,000
	Settlements, terminations, or expirations:	(1,052,000		)		(11,250,000		)
	Notional amount as of December 31, 2013:(1)	$	790,000			$	9,000,000
	-1	The Eurodollar futures notional amount as of December 31, 2013 represents the total notional of the 3-month contracts with expiration dates from 2016 to 2020. The maximum notional outstanding for any future 3-month period does not exceed $1,175,000.
	The following table summarizes the contractual maturities remaining for the Company’s outstanding interest rate swap agreements as of December 31, 2013:
	Remaining		Notional Amount:				Weighted-Average
	Maturity		Trading				Fixed Rate Swapped
	37-48 months		185,000				0.92	%
	49-60 months		15,000				2.17	%
	61-72 months		385,000				1.58	%
	73-84 months		25,000				1.61	%
	109-127 months		180,000				2.13	%
			$	790,000			1.56	%
	As of December 31, 2013, three of these agreements with a total notional balance of $150,000 and a weighted average pay-fixed rate of 2.17% are 10-year forward-starting swaps which will not be effective until 2014.
	The tables below summarize the effect of the Company's interest rate derivatives reported in "loss on derivative instruments, net" on the Company's consolidated statements of net income for the periods indicated:
			Year Ended
			December 31,
	Type of Derivative Instrument		2013				2012			2011
	Interest rate swaps		$	9,315			$	(908	)	$	(2,825	)
	Eurodollar futures		(19,391		)		—			—
	Loss on derivative instruments, net		$	(10,076	)		$	(908	)	$	(2,825	)
	The Company's consolidated balance sheet as of December 31, 2013 has a net unrealized loss in AOCI of $9,365 which relates to the interest rate swap agreements previously designated as cash flow hedges. This net unrealized loss will be recognized into the Company's consolidated statement of net income as a portion of "interest expense" over the remaining contractual life of the agreements. All forecasted transactions associated with interest rate swap agreements previously designated as cash flow hedges are expected to occur. No amounts have been reclassified to net income in any period in connection with forecasted transactions that are no longer considered probable of occurring. The Company estimates the portion of existing net unrealized loss on discontinued cash flow hedges expected to be reclassified to earnings within the next 12 months is $6,767. The Company reclassified $13,989 from AOCI to its consolidated statement of net income for the year ended December 31, 2013, of which $5,193 related to amortization of the net unrealized loss remaining in AOCI at the time the Company discontinued its cash flow hedge accounting and the remainder related to recognition of interest expense from cash flow hedging transactions in accordance with ASC Topic 815. The Company reclassified $14,448 and $11,604 from AOCI to its consolidated statements of net income for the years ended December 31, 2012 and December 31, 2011, respectively, related to cash flow hedging transactions in accordance with ASC Topic 815.
	Many of the Company's interest rate swaps were entered into under bilateral agreements which contain various covenants related to the Company’s credit risk.  Specifically, if the Company defaults on any of its indebtedness, including those circumstances whereby repayment of the indebtedness has not yet been accelerated by the lender, or is declared in default of any of its covenants with any counterparty, then the Company could also be declared in default under the bilateral agreement. Additionally, these agreements allow those counterparties to require settlement of its outstanding derivative transactions if the Company fails to earn GAAP net income excluding derivative gains and losses greater than one dollar as measured on a rolling two quarter basis. These interest rate agreements also contain provisions whereby, if the Company fails to maintain a minimum net amount of shareholders’ equity, then the Company may be declared in default on its derivative obligations.  The Company was in compliance with all covenants under bilateral agreements on December 31, 2013.

NonRecourse_Collateralized_Fin

Non-Recourse Collateralized Financing (Notes)	12 Months Ended
	Dec. 31, 2013
Non-Recourse Collateralized Financing [Abstract]	'
Non-Recourse Debt	'
	NON-RECOURSE COLLATERALIZED FINANCING
	The Company has one class of its single-family securitization financing bond outstanding as of December 31, 2013 with an estimated weighted average life remaining of 3.1 years. The interest rate on this bond is based on 1-month LIBOR plus 0.30%. The following table summarizes information about the Company’s non-recourse collateralized financing as of the dates indicated:
		31-Dec-13						31-Dec-12
		Balance Outstanding			Value of			Balance Outstanding			Value of
					Collateral						Collateral
	Secured by single-family mortgage loans	$	13,134		$	13,950		$	15,974		$	17,309
	Secured by non-Agency CMBS	—			—			15,000			15,825
	Unamortized bond premium	(220		)	n/a			(470		)	n/a
		$	12,914		$	13,950		$	30,504		$	33,134
	The following table presents a summary of the changes in the carrying value of the Company's non-recourse collateralized financing for the year ended December 31, 2013:
		Secured by Non-Agency CMBS			Secured by Single-Family Mortgage Loans			Total
	Balance, December 31, 2012	$	14,807		$	15,697		$	30,504
	Principal repayments	(15,000		)	(2,839		)	(17,839		)
	Amortization of bond premium	193			56			249
	Balance, December 31, 2013	$	—		$	12,914		$	12,914

Offsetting_Assets_and_Liabilit

Offsetting Assets and Liabilities (Notes)	12 Months Ended
	Dec. 31, 2013
Offsetting Assets and Liabilities [Abstract]	'
Schedule of Derivative Instruments Offsetting Assets and Liabilities [Table Text Block]	'
	OFFSETTING ASSETS AND LIABILITIES
	The Company's derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following tables present information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of December 31, 2013 and December 31, 2012:
		Offsetting of Assets
		Gross Amount of Recognized Assets		Gross Amount Offset in the Balance Sheet		Net Amount of Assets Presented in the Balance Sheet		Gross Amount Not Offset in the Balance Sheet						Net Amount
								Financial Instruments Received as Collateral			Cash Received as Collateral
	31-Dec-13
	Derivative assets	$	18,488	$	—	$	18,488	$	(193	)	$	(12,141	)	$	6,154
	December 31, 2012:
	Derivative assets	$	—	$	—	$	—	$	—		$	—		$	—
		Offsetting of Liabilities
		Gross Amount of Recognized Liabilities		Gross Amount Offset in the Balance Sheet		Net Amount of Liabilities Presented in the Balance Sheet		Gross Amount Not Offset in the Balance Sheet						Net Amount
								Financial Instruments Posted as Collateral			Cash Posted as Collateral
	31-Dec-13
	Derivative liabilities	$	6,681	$	—	$	6,681	$	(1,299	)	$	(5,382	)	$	—
	Repurchase agreements	3,580,754		—		3,580,754		(3,580,754		)	—			—
		$	3,587,435	$	—	$	3,587,435	$	(3,582,053	)	$	(5,382	)	$	—
	December 31, 2012:
	Derivative liabilities	$	42,537	$	—	$	42,537	$	(42,499	)	$	(38	)	$	—
	Repurchase agreements	3,564,128		—		3,564,128		(3,564,128		)	—			—
		$	3,606,665	$	—	$	3,606,665	$	(3,606,627	)	$	(38	)	$	—
	-1	Amount disclosed for collateral received by or posted to the same counterparty include cash and the fair value of MBS up to and not exceeding the net amount of the asset or liability presented in the balance sheet. The fair value of the actual collateral received by or posted to the same counterparty may exceed the amounts presented.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments (Notes)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	ASC Topic 820 defines fair value 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. ASC 820 clarifies that fair value should be based on the assumptions market participants would use when pricing an asset or liability and also requires an entity to consider all aspects of nonperformance risk, including the entity's own credit standing, when measuring fair value of a liability. ASC Topic 820 established a valuation hierarchy of three levels as follows:
	•	Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. The fair value measurement of the Company's Eurodollar futures contracts are included in this category.
	•	Level 2 – Inputs include quoted prices in active markets for similar assets or liabilities; quoted prices in inactive markets for identical or similar assets or liabilities; or inputs either directly observable or indirectly observable through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.  The Company’s assets and liabilities measured at fair value that are generally included in this category are Agency MBS, certain non-Agency MBS, and interest rate swaps.
	•	Level 3 – Unobservable inputs are supported by little or no market activity. The unobservable inputs represent management’s best estimate of how market participants would price the asset or liability at the measurement date.  Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.  The Company’s assets and liabilities measured at fair value that are generally included in this category are certain non-Agency MBS.
	The following table presents the fair value of the Company’s assets and liabilities, segregated by the hierarchy level of the fair value estimate, that are measured at fair value on a recurring basis as of the dates indicated:
		December 31, 2013
		Fair Value				Level 1 - Unadjusted Quoted Prices in Active Markets			Level 2 - Observable Inputs			Level 3 - Unobservable Inputs
	Assets:
	Mortgage-backed securities	$	4,018,161			$	—		$	3,944,681		$	73,480
	Derivative assets	18,488				—			18,488			—
	Total assets carried at fair value	$	4,036,649			$	—		$	3,963,169		$	73,480
	Liabilities:
	Derivative liabilities	$	6,681			$	5,345		$	1,336		$	—
	Total liabilities carried at fair value	$	6,681			$	5,345		$	1,336		$	—
		December 31, 2012
		Fair Value				Level 1 - Unadjusted Quoted Prices in Active Markets			Level 2 - Observable Inputs			Level 3 - Unobservable Inputs
	Assets:
	Mortgage-backed securities	$	4,103,981			$	—		$	3,998,761		$	105,220
	Other investments	25				—			—			25
	Total assets carried at fair value	$	4,104,006			$	—		$	3,998,761		$	105,245
	Liabilities:
	Derivative liabilities	$	42,537			$	—		$	42,537		$	—
	Total liabilities carried at fair value	$	42,537			$	—		$	42,537		$	—
	The Company did not have assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2013 or December 31, 2012.
	The Company’s valuation of its interest rate swaps is determined using the income approach. Derivative assets and liabilities include interest rate swaps and Eurodollar futures. The primary input into the valuation of interest rate swaps is the forward interest rate swap curve, which is considered an observable input and thus their fair values are considered Level 2 measurements. The Company's valuation of its Eurodollar futures is based on the closing exchange prices. Accordingly, these financial futures are classified as Level 1.
	The Company’s Agency MBS, as well a majority of its non-Agency MBS, are substantially similar to securities that either are currently actively traded or have been recently traded in their respective market. Their fair values are derived from an average of multiple dealer quotes and thus are considered Level 2 fair value measurements. The Company’s remaining non-Agency MBS are comprised of securities for which there are not substantially similar securities that trade frequently, and their fair values are therefore considered Level 3 measurements. The Company determines the fair value of its Level 3 securities by discounting the estimated future cash flows derived from cash flow models using assumptions that are confirmed to the extent possible by third party dealers or other pricing indicators. Significant inputs into those pricing models are Level 3 in nature due to the lack of readily available market quotes. Information utilized in those pricing models include the security’s credit rating, coupon rate, estimated prepayment speeds, expected weighted average life, collateral composition, estimated future interest rates, expected credit losses, and credit enhancement as well as certain other relevant information. Significant changes in any of these inputs in isolation would result in a significantly different fair value measurement. Generally Level 3 assets are most sensitive to the default rate and severity assumptions.
	The table below presents information about the significant unobservable inputs used in the fair value measurement for the Company's Level 3 non-Agency CMBS and RMBS as of December 31, 2013:
		Quantitative Information about Level 3 Fair Value Measurements (1)
		Prepayment Speed		Default Rate			Severity		Discount Rate
	Non-Agency CMBS	20 CPY		2.5	%		35	%	8.7	%
	Non-Agency RMBS	10 CPR		1	%		19.2	%	8.1	%
	-1	Data presented are weighted averages.
	The following table presents the activity of the instruments fair valued at Level 3 during the year ended December 31, 2013:
		Year Ended
		December 31, 2013
		Level 3 Fair Values
		Non-Agency CMBS				Non-Agency RMBS			Other			Total assets
	Balance as of January 1, 2011	$	123,703			$	10,296		$	25		$	134,024
	Purchases	—				7,500			—			7,500
	Transfers out to Level 2	(4,670		)		—			—			(4,670		)
	Change in fair value included in OCI	(59		)		86			—			27
	Principal payments	(18,437		)		(12,804		)	—			(31,241		)
	(Amortization) accretion	(435		)		40			—			(395		)
	Balance as of December 31, 2012	$	100,102			$	5,118		$	25		$	105,245
	Purchases	26,021				—			—			26,021
	Sales/write-offs to net income	—				—			(25		)	(25		)
	Change in fair value included in OCI	(6,026		)		5			—			(6,021		)
	Principal payments	(49,167		)		(2,421		)	—			(51,588		)
	(Amortization) accretion	(197		)		45			—			(152		)
	Balance as of December 31, 2013	$	70,733			$	2,747		$	—		$	73,480
	The following table presents a summary of the recorded basis and estimated fair values of the Company’s financial instruments as of the dates indicated:
		December 31, 2013							December 31, 2012
		Recorded Basis				Fair Value			Recorded Basis			Fair Value
	Assets:
	Mortgage-backed securities	$	4,018,161			$	4,018,161		$	4,103,981		$	4,103,981
	Securitized mortgage loans, net (1)	54,748				45,750			70,823			61,916
	Other investments (1)	675				633			858			810
	Derivative assets	18,488				18,488			—			—
	Liabilities:
	Repurchase agreements (2)	$	3,580,754			$	3,580,997		$	3,564,128		$	3,564,787
	Non-recourse collateralized financing (1)	12,914				12,414			30,504			30,756
	Derivative liabilities	6,681				6,681			42,537			42,537
(1) The Company determines the fair value of its securitized mortgage loans and other investments and its non-recourse collateralized financing using internally developed cash flow models with inputs similar to those used to estimate fair value of the Company's Level 3 non-Agency MBS.
(2) The difference between the recorded basis of repurchase agreements and their fair value is the deferred cost of the 2-year repurchase facility.

Shareholders_Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Shareholders' Equity	'
	SHAREHOLDERS' EQUITY
	Preferred Stock
	The Company has 2,300,000 shares of its 8.50% Series A Cumulative Redeemable Preferred Stock and 2,250,000 shares of its 7.625% Series B Cumulative Redeemable Preferred Stock issued and outstanding as of December 31, 2013 (collectively, the "Preferred Stock"). The Preferred Stock has no maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased or converted into common stock pursuant to the terms of the Preferred Stock. Except under certain limited circumstances intended to preserve the Company's REIT status, upon the occurrence of a change in control as defined in Article IIIA, Section 7(d) of the Company’s Articles of Incorporation, or to avoid the direct or indirect imposition of a penalty tax in respect of, or to protect the tax status of, any of the Company’s real estate mortgage investment conduits (“REMIC”) interests or a REMIC in which the Company may acquire an interest (as permitted by the Company’s Articles of Incorporation), the Company may not redeem the Series A Preferred Stock prior to July 31, 2017 or the Series B Preferred Stock prior to April 30, 2018. On or after these dates, at any time and from time to time, the Preferred Stock may be redeemed in whole, or in part, at the Company's option at a cash redemption price of $25.00 per share plus any accumulated and unpaid dividends. The Series A Preferred Stock pays a cumulative cash dividend equivalent to 8.50% of the $25.00 liquidation preference per share each year and the Series B Preferred Stock pays a cumulative cash dividend equivalent to 7.625% of the $25.00 liquidation preference per share each year. Because the Preferred Stock is redeemable only at the option of the issuer, it is classified as equity on the Company's consolidated balance sheet.
	Common Stock
	The following table presents a summary of the changes in the number of common shares outstanding for the periods presented:
		2013		2012
	Balance as of January 1,	54,268,915		40,382,530
	Common stock issued under DRIP	515,257		13,480
	Common stock issued under ATM program	180,986		402,494
	Common stock issued or redeemed under stock and incentive plans	270,158		241,663
	Common stock issued via public offering	—		13,332,748
	Common stock forfeited for tax withholding on share-based compensation	(52,385	)	—
	Common stock repurchased during the period (weighted average price of $8.09 and $8.86 per share, respectively)	(872,447	)	(104,000	)
	Balance as of December 31,	54,310,484		54,268,915
	The Company has approximately 7,416,520 shares of common stock that remain available to offer and sell through its sales agent, JMP Securities LLC, under its "at the market", or "ATM" program, as of December 31, 2013.
	The Company's Dividend Reinvestment and Share Purchase Plan ("DRIP") allows registered shareholders to automatically reinvest some or all of their quarterly common stock dividends in shares of the Company’s common stock and provides an opportunity for investors to purchase shares of the Company’s common stock, potentially at a discount to the prevailing market price. Of the 3,000,000 shares reserved for issuance under the Company's DRIP, there are 2,466,898 shares remaining for issuance as of December 31, 2013. The Company has declared a fourth quarter common stock dividend of $0.27 per share payable on January 31, 2014 to shareholders of record as of December 31, 2013. There was no discount for shares purchased through the DRIP during the fourth quarter of 2013.
	The following table summarizes dividends declared per share of common stock for years ending December 31, 2013, 2012, and 2011 and their related tax characterization:
					Tax Characterization
		Dividends Declared per Common Share			Ordinary		Capital Gain		Return of Capital
	Year ended December 31, 2013	$	1.12		$	1.065	$	0.055	$	—
	Year ended December 31, 2012	1.15			1.0038		0.1462		—
	Year ended December 31, 2011	1.09			0.9822		0.1078		—
	Of the $50,000 authorized by the Company's Board of Directors for the repurchase of its common stock through December 31, 2014, approximately $42,145 remains available for repurchase at the Company's option as of December 31, 2013.
	Incentive Plans. Pursuant to the Company’s 2009 Stock and Incentive Plan, the Company may grant stock-based compensation to eligible employees, directors or consultants or advisers to the Company, including stock awards, stock options, SARs, dividend equivalent rights, performance shares, incentive awards, and restricted stock units. Of the 2,500,000 shares of common stock authorized for issuance under this plan, 1,550,118 shares remain available for issuance as of December 31, 2013. Total stock-based compensation expense recognized by the Company for the year ended December 31, 2013 was $2,354 compared to $1,828 and $917 for the years ended December 31, 2012 and December 31, 2011, respectively.
	The following table presents a rollforward of the restricted stock activity for the periods indicated:
		Year Ended
		December 31,
		2013		2012
	Restricted stock outstanding as of beginning of period	448,283		365,506
	Restricted stock granted	255,158		220,821
	Restricted stock vested	(182,472	)	(138,044	)
	Restricted stock outstanding as of end of period	520,969		448,283
	The restricted stock granted during the year ended December 31, 2013 and December 31, 2012 had fair values of $2,708 and $2,073, respectively, at their grant dates. As of December 31, 2013, the balance of the Company’s outstanding restricted stock remaining to be amortized into compensation expense is $3,311 of which $1,643 is expected to be amortized in 2014, $1,155 in 2015, $447 in 2016, and $66 in 2017.
	During the year ended December 31, 2013, the Company's remaining 27,500 SARs were exercised pursuant to the Company's 2004 Stock Incentive Plan at their exercise price of $7.06 per share. There are no other awards outstanding under the 2004 Stock Incentive Plan, and no new awards may be granted under this plan.

Income_Taxes_Notes

Income Taxes (Notes)	12 Months Ended
	Dec. 31, 2013
Income Taxes [Abstract]	'
Income Tax Disclosure [Text Block]	'
	INCOME TAXES
	The Company's estimated REIT taxable income before consideration of its net operating loss carryforward was $71,765 for the year ended December 31, 2013, $73,962 for the year ended December 31, 2012, and $43,988 for the year ended December 31, 2011. After common and preferred dividend distributions during those years as well as utilization of the Company's tax net operating loss ("NOL") carryforward to offset taxable earnings, the Company does not expect to incur any income tax liability for the year ended December 31, 2013 and did not incur any income tax liability for the years ending December 31, 2012 or December 31, 2011.
	The Company estimated NOL carryforward as of December 31, 2013 is $142,252 . As a result of its common stock offering in February 2012, the Company incurred an "ownership change" under Section 382 of the Internal Revenue Code ("Section 382"). In general, if a company incurs an ownership change under Section 382, the company's ability to utilize an NOL carryforward to offset its taxable income after any required dividend distributions becomes limited to a certain amount per year. Due to the ownership change, the Company's ability to use its NOL is limited to an estimated $13,451 per year. The NOL will begin to expire principally in the years 2020-2024 to the extent it is not used. While the Company has not finalized its 2013 income tax return, it expects to utilize less than $2,000 of the NOL in 2013.
	The Company also has a taxable REIT subsidiary ("TRS"), which has an estimated NOL carryforward of $3,504 as of December 31, 2013 compared to $4,204 as of December 31, 2012. The Company's TRS recognized income of $721 during the year ended December 31, 2013 from its investment in a limited partnership, which was dissolved prior to December 31, 2013. The Company's TRS has limited operations, and accordingly, the Company has established a full valuation allowance for the related deferred tax asset.
	After reviewing for any potentially uncertain income tax positions, the Company has concluded that it does not have any uncertain tax positions that meet the recognition or measurement criteria of ASC 740 as of December 31, 2013, December 31, 2012, or December 31, 2011, although its tax returns for those tax years are open to examination by the IRS. In the event that the Company incurs income tax related interest and penalties, its policy is to classify them as a component of provision for income taxes.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	COMMITMENTS AND CONTINGENCIES
	The Company records accruals for certain outstanding legal proceedings, investigations or claims when it is probable that a liability will be incurred and the amount of the loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings, investigations and claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probable and reasonably estimable. When a loss contingency is not both probable and reasonably estimable, the Company does not accrue the loss. However, if the loss (or an additional loss in excess of the accrual) is at least a reasonable possibility and material, then the Company discloses a reasonable estimate of the possible loss or range of loss, if such reasonable estimate can be made. If the Company cannot make a reasonable estimate of the possible material loss, or range of loss, then that fact is disclosed.
	The Company and its subsidiaries are parties to various legal proceedings, including those described below.  Although the ultimate outcome of these legal proceedings cannot be ascertained at this time, and the results of legal proceedings cannot be predicted with certainty, the Company believes, based on current knowledge, that the resolution of any of these proceedings, including those described below, will not have a material effect on the Company’s consolidated financial condition or liquidity.  However, the resolution of any of the proceedings described below could have a material impact on consolidated results of operations or cash flows in a given future reporting period as the proceedings are resolved.
	One of the Company's subsidiaries, GLS Capital, Inc. ("GLS"), the County of Allegheny, Pennsylvania ("Allegheny County"), and the Company are named defendants in a putative class action lawsuit filed in June 2012 in the Court of Common Pleas of Allegheny County, Pennsylvania ("the Court"). Between 1995 and 1997, GLS purchased from Allegheny County delinquent property tax lien receivables for properties located in the county. The purported class in this action consists of owners of real estate in Allegheny County whose property is or has been subject to a tax lien filed by Allegheny County that Allegheny County either retained or sold to GLS and who were billed by Allegheny County or GLS for attorneys' fees, interest, and certain other fees and who sustained economic damages on and after August 14, 2003. The putative class allegations are that Allegheny County, GLS, and the Company violated the class's constitutional due process rights in connection with delinquent tax collection efforts. There are also allegations that amounts recovered from the class by GLS and / or Allegheny County are an unconstitutional taking of private property.  The claims against the Company are solely based upon its ownership of GLS. The complaint requests that the Court order GLS to account for amounts alleged to have been collected in violation of the putative class members' rights and create a constructive trust for the return of such amounts to members of the purported class. The Company believes the claims are without merit and intends to defend against them vigorously in this matter. The same class previously filed substantially the same lawsuit in 2004 against GLS and Allegheny County (ACORN v. County of Allegheny and GLS Capital, Inc.), and that cased was dismissed by the Court of Common Pleas with prejudice on June 28, 2013.
	The Company and DCI Commercial, Inc. ("DCI"), a former affiliate of the Company and formerly known as Dynex Commercial, Inc., are appellees (or respondents) in the matter of Basic Capital Management, Inc. et al.  (collectively, “BCM” or the “Plaintiffs”) versus DCI et al. currently pending in state court in Dallas, Texas.  The matter was initially filed in the state court in Dallas County, Texas in April 1999 against DCI, and in March 2000, BCM amended the complaint and added the Company as a defendant. Following a trial court decision in favor of both the Company and DCI, Plaintiffs appealed, seeking reversal of the trial court's judgment and rendition of judgment against the Company for alleged breach of loan agreements for tenant improvements in the amount of $250. Plaintiffs also sought reversal of the trial court's judgment and rendition of judgment against DCI in favor of BCM under two mutually exclusive damage models, for $2,200 and $25,600, respectively, related to the alleged breach by DCI of a $160,000 “master” loan commitment. Plaintiffs also sought reversal and rendition of a judgment in their favor for attorneys' fees in the amount of $2,100. Alternatively, Plaintiffs sought a new trial. On February 13, 2013, the Fifth Circuit Court of Appeals in Dallas, Texas (the “Fifth Circuit”) ruled on Plaintiffs' appeal, affirming the previous decision of no liability with respect to the Company, and reversing the previous decision of no liability with respect to DCI relating to the $160,000 “master” loan commitment. The Fifth Circuit ordered a new trial to determine the amount of attorneys' fees and prejudgment and post-judgment interest due to Plaintiffs and reinstated the $25,600 damage award against DCI. On May 22, 2013, the Fifth Circuit vacated its order on February 13, 2013 and remanded the case to the trial court for entry of judgment against DCI and for a new trial with respect to attorneys' fees and for costs and pre-judgment and post-judgment interest as determined by the trial court. The Fifth Circuit also affirmed the trial court's decision with respect to a take nothing judgment against the Company. DCI has appealed the matter to the Supreme Court of Texas to reverse the $25,600 damage award. Management believes the Company will not be obligated for any amounts that may ultimately be awarded against DCI.

Related_Party_Transactions_Not

Related Party Transactions (Notes)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	RELATED PARTY TRANSACTIONS
	As discussed in Note 12, the Company and DCI were jointly named in litigation regarding the activities of DCI while it was an operating subsidiary of an affiliate of the Company. In December 2000, the Company and DCI entered into a Litigation Cost Sharing Agreement whereby the parties set forth how the costs of defending against such litigation would be shared, and whereby the Company agreed to advance DCI's portion of the costs of defending against such litigation. The Litigation Cost Sharing Agreement remains in effect as of December 31, 2013. DCI costs advanced by the Company are loans and bear simple interest at the rate of Prime plus 8.0% per annum. As of December 31, 2013, the total amount due to the Company under the Litigation Cost Sharing Agreement, including interest, was $8,397, which has been fully reserved for collectibility by the Company. DCI is currently wholly owned by a company unaffiliated with the Company. An executive of the Company is the sole shareholder of this unaffiliated company.

Selected_Quarterly_Results_Not

Selected Quarterly Results (Notes)	12 Months Ended
	Dec. 31, 2013
Selected Quarterly Results [Abstract]	'
Quarterly Financial Information [Text Block]	'
	SELECTED QUARTERLY INFORMATION (UNAUDITED)
		Year Ended December 31, 2013
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	22,526	$	22,444		$	22,948		$	20,186
	Net interest income after provision for loan losses	22,265		22,444			22,948			20,186
	Net income to common shareholders	18,381		29,442			(6,921		)	19,266
	Comprehensive income (loss) to common shareholders	27,427		(67,215		)	(6,184		)	19,813
	Basic net income per common share	$	0.34	$	0.54		$	(0.13	)	$	0.35
	Diluted net income per common share	$	0.34	$	0.54		$	(0.13	)	$	0.35
	Cash dividends declared per common share	$	0.29	$	0.29		$	0.27		$	0.27
		Year Ended December 31, 2012
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	19,147	$	19,008		$	19,100		$	21,145
	Net interest income after provision for loan losses	19,087		19,008			18,990			21,123
	Net income to common shareholders	16,476		18,847			18,353			18,330
	Comprehensive income to common shareholders	42,655		17,429			52,737			14,951
	Basic net income per common share	$	0.33	$	0.35		$	0.34		$	0.34
	Diluted net income per common share	$	0.33	$	0.35		$	0.34		$	0.34
	Cash dividends declared per common share	$	0.28	$	0.29		$	0.29		$	0.29
		Year Ended December 31, 2011
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	12,731	$	15,033		$	14,559		$	16,972
	Net interest income after provision for loan losses	12,481		14,833			14,259			16,851
	Net income to common shareholders	10,280		13,594			1,532			14,406
	Comprehensive income (loss) to common shareholders	6,606		13,910			(6,772		)	12,756
	Basic net income per common share	$	0.31	$	0.34		$	0.04		$	0.36
	Diluted net income per common share	$	0.31	$	0.34		$	0.04		$	0.36
	Cash dividends declared per common share	$	0.27	$	0.27		$	0.27		$	0.28

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	SUBSEQUENT EVENTS
	Management has evaluated events and circumstances occurring as of and through the date this Annual Report on Form 10-K was filed with the SEC and has determined that there have been no significant events or circumstances that qualify as a "recognized" subsequent event as defined by ASC Topic 855. Management has determined that the following events or circumstances qualify as "nonrecognized" subsequent events as defined by ASC Topic 855:
	Subsequent to December 31, 2013, the Company granted 428,363 shares of restricted stock with a combined fair value at grant date of $3,453. The fair value of these restricted shares will be amortized into share-based compensation expense in accordance with their respective vesting periods. Approximately 50% of these shares will vest annually over the next 3 years with the remaining 50% vesting annually over the next 4 years.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Nature of Operations [Text Block]	'
	Organization
	Dynex Capital, Inc., ("Company”) was incorporated in the Commonwealth of Virginia on December 18, 1987 and commenced operations in February 1988. The Company primarily earns income from investing on a leveraged basis in mortgage-backed securities ("MBS") that are issued or guaranteed by the U.S. Government or U.S. Government sponsored agencies ("Agency MBS") and MBS issued by others ("non-Agency MBS").
Basis of Presentation [Policy Text Block]	'
	Basis of Presentation
	The accompanying consolidated financial statements of Dynex Capital, Inc. and its qualified real estate investment trust ("REIT") subsidiaries and its taxable REIT subsidiary (together, "Dynex" or the "Company") have been prepared in accordance with the generally accepted accounting principles in the United States ("GAAP") and the instructions to the Annual Report on Form 10-K and Article 3 of Regulation S-X promulgated by the Securities and Exchange Commission (the "SEC").
Reclassification, Policy [Policy Text Block]	'
	Reclassifications
	Certain items in the prior years' consolidated financial statements have been reclassified to conform to the current year’s presentation. The Company’s consolidated balance sheet as of December 31, 2012 now presents its Agency and non-Agency mortgage-backed securities as "mortgage-backed securities, at fair value". The Company's consolidated statements of net income for the years ended December 31, 2012 and December 31, 2011 now present interest income from Agency and non-Agency mortgage-backed securities together as "interest income: mortgage-backed securities". In addition, changes in fair value and other activity related to the Company's derivative instruments have been reclassified from "fair value adjustments, net" to "loss on derivative instruments, net". As a result, the respective amounts on the Company's consolidated statements of cash flow for the years ended December 31, 2012 and December 31, 2011 have been changed to reflect this reclassification. These presentation changes have no effect on reported total assets, total liabilities, results of operations, or cash flow activities.
Consolidation [Policy Text Block]	'
	Consolidation
	The consolidated financial statements include the accounts of the Company, its qualified REIT subsidiaries and its taxable REIT subsidiary.  The consolidated financial statements represent the Company’s accounts after the elimination of intercompany balances and transactions.  The Company consolidates entities in which it owns more than 50% of the voting equity and control does not rest with others and variable interest entities in which it is determined to be the primary beneficiary in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810-10. The Company follows the equity method of accounting for investments in which it owns greater than a 20% and less than 50% interest in partnerships and corporate joint ventures or when it is able to influence the financial and operating policies of the investee but owns less than 50% of the voting equity. The Company did not have any investments in which it owned less than a 50% interest in the voting equity as of December 31, 2013 or December 31, 2012.
	In accordance with ASC Topic 810-10, the Company also consolidates certain trusts through which it has securitized mortgage loans. Additional information regarding the accounting policy for securitized mortgage loans is provided below under "Investments".
Use of Estimates [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 and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenue and expenses during the reported period.  Actual results could differ from those estimates.  The most significant estimates used by management include but are not limited to fair value measurements of its investments, allowance for loan losses, other-than-temporary impairments, contingencies, and amortization of premiums and discounts. These items are discussed further below within this note to the consolidated financial statements.
Federal Income Taxes [Policy Text Block]	'
	Federal Income Taxes
	The Company believes it has complied with the requirements for qualification as a REIT under the Internal Revenue Code of 1986, as amended (the "Code").  As such, the Company believes that it qualifies as a REIT for federal income tax purposes, and it generally will not be subject to federal income tax on the amount of its income or gain that is distributed as dividends to shareholders.  The Company uses the calendar year for both tax and financial reporting purposes.  There may be differences between taxable income and income computed in accordance with GAAP.
Cash and Cash Equivalents [Policy Text Block]	'
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of three months or less.
Restricted Cash [Policy Text Block]	'
	Restricted Cash
	Restricted cash consists of cash the Company has pledged to cover initial and variation margin with its counterparties.
Investments [Policy Text Block]	'
	Mortgage-Backed Securities
	In accordance with ASC Topic 320, the Company has designated the majority of its investments in MBS as available-for-sale ("AFS"), and the remainder is designated as trading. All of the Company’s MBS are recorded at their fair value on its consolidated balance sheet. Changes in fair value for the Company's AFS securities are reported in other comprehensive income ("OCI") until the security is collected, disposed of, or determined to be other than temporarily impaired. Although the Company generally intends to hold its AFS securities until maturity, it may, from time to time, sell any of these securities as part of the overall management of its business. Upon the sale of an AFS security, any unrealized gain or loss is reclassified out of accumulated other comprehensive income ("AOCI") into net income as a realized "gain (loss) on sale of investments, net" using the specific identification method. Changes in the fair value of MBS designated as trading are recognized in net income within "fair value adjustments, net". Gains and losses realized upon the sale, impairment, or other disposal of a trading security are also recognized within "fair value adjustments, net".
	The Company’s MBS pledged as collateral against repurchase agreements and derivative instruments are included in MBS on the consolidated balance sheets with the fair value of the MBS pledged disclosed parenthetically.
	Interest Income, Premium Amortization, and Discount Accretion. Interest income on MBS is accrued based on the outstanding principal balance (or notional balance in the case of interest-only, or "IO", securities) and their contractual terms.  Premiums and discounts on Agency MBS as well as any non-Agency MBS rated AA and higher at the time of purchase are amortized into interest income over the expected life of such securities using the effective yield method and adjustments to premium amortization are made for actual prepayment activity as well as changes in projected future cash flows in accordance with ASC Topic 310-20. The Company's projections of future cash flows are based on input and analysis received from external sources and internal models, and includes assumptions about the amount and timing of credit losses, loan prepayment rates, fluctuations in interest rates, and other factors. On at least a quarterly basis, the Company reviews and makes any necessary adjustments to its cash flow projections and updates the yield recognized on these assets.
	The Company has purchased non-Agency MBS rated less than 'AA' by at least one national rating agency at discounts to their par value, and management does not believe these discounts to be substantial. The Company records the discount accretion into income over the security's expected life, which reflects management's estimate of the security's projected cash flows in accordance with ASC Topic 325-40. Future changes in projected cash flows or differences arising between projected cash flows and actual cash flows received may result in a prospective change in the effective yield on those securities.
	The accrual of interest on MBS is discontinued when, in the opinion of management, it is probable that all amounts contractually due will not be collected, and in certain instances, as a result of an other-than-temporary impairment analysis ("OTTI", see discussion below). All interest accrued but not collected for investments that are placed on a non-accrual status or are charged-off is reversed against interest income. Interest on these investments is accounted for on the cash-basis or cost-recovery method until the affected investment or investments qualify for return to accrual status. Investments are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
	Determination of MBS Fair Value. In accordance with ASC Topic 820, the Company determines the fair value for the majority of its MBS based upon prices obtained from third-party pricing services and broker quotes. The remainder of the Company's MBS are valued by discounting the estimated future cash flows derived from cash flow models that utilize information such as the security's coupon rate, estimated prepayment speeds, expected weighted average life, collateral composition, estimated future interest rates, expected losses, and credit enhancements as well as certain other relevant information. The Company's application of ASC Topic 820 guidance is discussed further in Note 9.
	Other-than-Temporary Impairment. The Company evaluates all MBS in its investment portfolio for other-than-temporary impairments ("OTTI") by comparing the amortized cost of each security in an unrealized loss position against the present value of expected future cash flows of the security. If there has been a significant adverse change in the cash flow expectations for a security resulting in its amortized cost becoming greater than the present value of its expected future cash flows, an other-than-temporary credit impairment has occurred. If the Company does not intend to sell and is not more likely than not required to sell the security, the credit loss is recognized in earnings and the balance of the unrealized loss is recognized in other comprehensive income (loss). If the Company intends to sell the security or will be more likely than not required to sell the security, the full unrealized loss is recognized in earnings.
	In periods after the recognition of an OTTI for MBS, the Company accounts for the other-than-temporarily impaired MBS as if the MBS had been purchased on the measurement date of the other-than-temporary impairment at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For MBS for which OTTIs were recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected shall be accreted into interest income using the effective interest method. The Company continues to estimate the present value of cash flows expected to be collected over the life of the MBS. If upon subsequent evaluation, there is an increase in the cash flows expected to be collected or if actual cash flows are greater than cash flows previously expected, such changes shall be accounted for as a prospective adjustment to the accretable yield in accordance with ASC Topic 310-30. Please see Note 3 for additional information related to the Company's evaluation for OTTI.
Securitized Mortgage Loans, Other Investments [Policy Text Block]	'
	Securitized Mortgage Loans
	Securitized mortgage loans consist of loans pledged to support the repayment of securitization financing bonds issued by the Company. The associated securitization financing bonds are treated as debt of the Company and are presented as a portion of "non-recourse collateralized financing" on the consolidated balance sheet. In accordance with ASC Topic 310-10, the Company's securitized mortgage loans are reported at amortized cost. Securitized mortgage loans can only be sold subject to the lien of the respective securitization financing indenture. An allowance has been established for currently existing and probable losses on such loans in accordance with ASC Topic 310-10.
	Other Investments
	Other investments primarily consist of unsecuritized mortgage loans owned by the Company which are accounted for using the cost method in accordance with ASC Topic 325-20. Management evaluates the need for an allowance for loan losses on these unsecuritized mortgage loans in accordance with ASC Topic 310-10 on at least a quarterly basis.
Repurchase Agreements [Policy Text Block]	'
	Repurchase Agreements
	Repurchase agreements are treated as financings in accordance with the provision of ASC Topic 860 under which the Company pledges its securities as collateral to secure a loan, which is equal in value to a specified percentage of the estimated fair value of the pledged collateral. The Company retains beneficial ownership of the pledged collateral. At the maturity of a repurchase agreement, the Company is required to repay the loan and concurrently receives back its pledged collateral from the lender or, with the consent of the lender, the Company may renew the agreement at the then prevailing financing rate. A repurchase agreement lender may require the Company to pledge additional collateral in the event of a decline in the fair value of the collateral pledged.  Repurchase agreement financing is recourse to the Company and the assets pledged. Most of the Company’s repurchase agreements are based on the September 1996 version of the Bond Market Association Master Repurchase Agreement, which generally provides that the lender, as buyer, is responsible for obtaining collateral valuations from a generally recognized source agreed to by both the Company and the lender, or, in an instance when such source is not available, the value determination is made by the lender.
Derivative Instruments [Policy Text Block]	'
	Derivative Instruments
	The Company accounts for its derivative instruments in accordance with ASC Topic 815. ASC Topic 815 requires an entity to recognize all derivatives as either assets or liabilities in the balance sheet and to measure those instruments at fair value.
	Effective June 30, 2013, the Company discontinued cash flow hedge accounting for derivative instruments which had previously been accounted for as cash flow hedges under ASC Topic 815. Activity up to and including June 30, 2013 for those agreements previously designated as cash flow hedges was recorded in accordance with cash flow hedge accounting as prescribed by ASC Topic 815, which states that the effective portion of the hedge relationship on an instrument designated as a cash flow hedge is reported in the current period's other comprehensive income while the ineffective portion is immediately reported in the current period’s consolidated statement of net income. The balance remaining in AOCI related to the de-designated cash flow hedges is being recognized in the Company's consolidated statement of net income as a portion of "interest expense" over the remaining life of the interest rate swap agreements. Subsequent to June 30, 2013, changes in the fair value of the Company's derivative instruments, plus periodic settlements, are recorded in the Company's consolidated statement of net income as a portion of "loss on derivative instruments, net".
	The Company has Eurodollar futures, which are valued based on closing exchange prices. Variation margin is exchanged daily to settle any changes in the value of the Eurodollar futures. Gains and losses associated with purchases and short sales of futures contracts are reported in "(loss) gain on derivative instruments, net" in our consolidated statements of net income.
	The Company has elected to use the portfolio exception in ASC 820-10-35-18D with respect to measuring counterparty credit risk for derivative instruments. The Company manages credit risk for its derivative positions on a counterparty-by-counterparty basis (that is, on the basis of its net portfolio exposure with each counterparty), consistent with its risk management strategy for such transactions. The Company manages credit risk by considering indicators of risk such as credit ratings, and by negotiating terms in its ISDA master netting arrangements and, if applicable, any associated Credit Support Annex documentation, with each individual counterparty. Since the effective date of ASC 820, management has monitored and measured credit risk and calculated credit valuation adjustments for its derivative transactions on the basis of its relationships at the counterparty portfolio level. Management receives reports from an independent third-party valuation specialist on a monthly basis providing the credit valuation adjustments at the counterparty portfolio level for purposes of reviewing and managing its credit risk exposures. Since the portfolio exception applies only to the fair value measurement and not to financial statement presentation, the portfolio-level adjustments are then allocated in a reasonable and consistent manner each period to the individual assets or liabilities that make up the group, in accordance with other applicable accounting guidance and the Company's accounting policy elections.
	Although MBS have characteristics that meet the definition of a derivative instrument, ASC 815 specifically excludes these instruments from its scope because they are accounted for as debt securities under ASC 320.
Interest Income, Premium Amortization, and Discount Accretion [Policy Text Block]	'
	Interest Income, Premium Amortization, and Discount Accretion. Interest income on MBS is accrued based on the outstanding principal balance (or notional balance in the case of interest-only, or "IO", securities) and their contractual terms.  Premiums and discounts on Agency MBS as well as any non-Agency MBS rated AA and higher at the time of purchase are amortized into interest income over the expected life of such securities using the effective yield method and adjustments to premium amortization are made for actual prepayment activity as well as changes in projected future cash flows in accordance with ASC Topic 310-20. The Company's projections of future cash flows are based on input and analysis received from external sources and internal models, and includes assumptions about the amount and timing of credit losses, loan prepayment rates, fluctuations in interest rates, and other factors. On at least a quarterly basis, the Company reviews and makes any necessary adjustments to its cash flow projections and updates the yield recognized on these assets.
	The Company has purchased non-Agency MBS rated less than 'AA' by at least one national rating agency at discounts to their par value, and management does not believe these discounts to be substantial. The Company records the discount accretion into income over the security's expected life, which reflects management's estimate of the security's projected cash flows in accordance with ASC Topic 325-40. Future changes in projected cash flows or differences arising between projected cash flows and actual cash flows received may result in a prospective change in the effective yield on those securities.
	The accrual of interest on MBS is discontinued when, in the opinion of management, it is probable that all amounts contractually due will not be collected, and in certain instances, as a result of an other-than-temporary impairment analysis ("OTTI", see discussion below). All interest accrued but not collected for investments that are placed on a non-accrual status or are charged-off is reversed against interest income. Interest on these investments is accounted for on the cash-basis or cost-recovery method until the affected investment or investments qualify for return to accrual status. Investments are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Stock-based Compensation [Policy Text Block]	'
	Stock-Based Compensation
	Pursuant to the Company’s 2009 Stock and Incentive Plan ("SIP"), the Company may grant stock-based compensation to eligible employees, directors or consultants or advisers to the Company, including stock awards, stock options, stock appreciation rights (“SARs”), dividend equivalent rights, performance shares, and restricted stock units.  Currently, the Company's stock options and restricted stock issued under this plan may be settled only in shares of its common stock, and therefore are treated as equity awards with their fair value measured at the grant date as required by ASC Topic 718. Outstanding SARs issued by the Company may be settled only in cash, and therefore have been treated as liability awards with their fair value estimated at the grant date and remeasured at the end of each reporting period using the Black-Scholes option valuation model as required by ASC Topic 718.  Please see Note 10 for additional disclosures regarding the Company's SIP.
Contingencies [Policy Text Block]	'
	Contingencies
	In the normal course of business, there are various lawsuits, claims, and other contingencies pending against the Company.  We evaluate whether to establish provisions for estimated losses from those matters in accordance with ASC Topic 450, which states that a liability is recognized for a contingent loss when: (a) the underlying causal event has occurred prior to the balance sheet date; (b) it is probable that a loss has been incurred; and (c) there is a reasonable basis for estimating that loss. A liability is not recognized for a contingent loss when it is only possible or remotely possible that a loss has been incurred, however, possible contingent losses shall be disclosed. Please refer to Note 12 for details on the most significant matters currently pending.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	'
	Recent Accounting Pronouncements
	In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815), Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes(a consensus of the FASB Emerging Issues Task Force) ("ASU 2013-10"). The new guidance permits the use of the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting purposes and removes certain restrictions on being able to apply hedge accounting for similar hedges using different benchmark interest rates. ASU 2013-10 is effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. The adoption of this ASU does not have an impact on our derivatives and will not have a material impact on the Company's consolidated financial statements.
	In June 2013, the FASB issued ASU 2013-08, Financial Services - Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements ("ASU 2013-08"). In general, the amendments of this ASU: (i) revise the definition of an investment company; (ii) require an investment company to measure non-controlling ownership interests in other investment companies at fair value rather than using the equity method of accounting; and (iii) require information to be disclosed concerning the status of the entity and any financial support provided, or contractually required to be provided, by the investment company to its investees. ASU 2013-08 is effective for interim and annual periods that begin after December 15, 2013 and early application is prohibited. As the FASB has decided to retain the current U.S. GAAP scope exception from investment company accounting and financial reporting for real estate investment trusts, the adoption of this ASU will not have a material impact on the Company's consolidated financial statements

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2013
Earnings Per Share, Basic and Diluted [Abstract]	'
Schedule of Calculation of Numerator and Denominator in Net Income Per Common Share [Table Text Block]	'
	The following table presents the calculation of the numerator and denominator for both basic and diluted net income per common share for the periods indicated:
		For the Year Ended December 31,
		2013					2012					2011
		Net			Weighted-Average Common Shares		Net			Weighted-		Net		Weighted-
		Income					Income			Average		Income		Average
										Common				Common
										Shares				Shares
	Net income	$	68,069				$	74,042				$	39,812
	Preferred stock dividends	(7,902		)			(2,036		)			—
	Net income to common shareholders	60,167			54,647,643		72,006			53,146,416		39,812		38,579,780
	Effect of dilutive stock options	—			—		—			—		—		799
	Diluted	$	60,167		54,647,643		$	72,006		53,146,416		$	39,812	38,580,579
	Net income per common share:
	Basic				$	1.1				$	1.35			$	1.03
	Diluted (1)				$	1.1				$	1.35			$	1.03
	-1	For the years ended December 31, 2012 and 2011, the calculation of diluted net income per common share excludes the effect of 15,000 unexercised stock option awards because their inclusion would have been anti-dilutive.

Mortgage_Backed_Securities_Mor1

Mortgage Backed Securities Mortgage backed securities (Tables)	12 Months Ended
	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'
Available-for-sale Securities [Table Text Block]	'
	The following table presents the components and weighted average coupon ("WAC") for the portion of the Company’s MBS designated as AFS as of December 31, 2013 and December 31, 2012:
		December 31, 2013
		Par		Net Premium (Discount)			Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss			Fair Value		WAC
	Agency:
	RMBS	$	2,591,568	$	154,220		$	2,745,788			$	6,104			$	(59,742	)	$	2,692,150	3.22	%
	CMBS	273,830		19,061			292,891				10,793				(900		)	302,784		5.07	%
	CMBS IO (1)	—		453,766			453,766				9,895				(3,334		)	460,327		0.83	%
	Total Agency AFS:	2,865,398		627,047			3,492,445				26,792				(63,976		)	3,455,261
	Non-Agency:
	RMBS	13,845		(338		)	13,507				338				(80		)	13,765		4.61	%
	CMBS	375,703		(18,277		)	357,426				15,366				(3,511		)	369,281		5.1	%
	CMBS IO (1)	—		150,518			150,518				2,618				(1,999		)	151,137		0.66	%
	Total non-Agency AFS:	389,548		131,903			521,451				18,322				(5,590		)	534,183
	Total AFS securities	$	3,254,946	$	758,950		$	4,013,896			$	45,114			$	(69,566	)	$	3,989,444
	-1	The notional balance for Agency CMBS IO and non-Agency CMBS IO is $10,160,502 and $4,274,957, respectively, as of December 31, 2013.
		31-Dec-12
		Par		Net Premium (Discount)			Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss			Fair Value		WAC
	Agency:
	RMBS	$	2,425,826	$	137,168		$	2,562,994			$	19,477			$	(11,134	)	$	2,571,337	3.67	%
	CMBS	280,602		21,907			302,509				21,570				(6		)	324,073		5.19	%
	CMBS IO (1)	—		550,171			550,171				18,218				(1,209		)	567,180		0.95	%
	Total Agency AFS:	2,706,428		709,246			3,415,674				59,265				(12,349		)	3,462,590
	Non-Agency:
	RMBS	11,411		(781		)	10,630				606				(198		)	11,038		4.28	%
	CMBS	463,747		(17,313		)	446,434				39,944				(36		)	486,342		5.31	%
	CMBS IO (1)	—		108,928			108,928				5,054				(40		)	113,942		0.86	%
	Total non-Agency AFS:	475,158		90,834			565,992				45,604				(274		)	611,322
	Total AFS securities	$	3,181,586	$	800,080		$	3,981,666			$	104,869			$	(12,623	)	$	4,073,912
	-1	The notional balance for the Agency CMBS IO and non-Agency CMBS IO is $10,059,495 and $2,393,614, respectively, as of December 31, 2012.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	'
	The following table presents certain information for those Agency MBS in an unrealized loss position as of December 31, 2013 and December 31, 2012:
		31-Dec-13							31-Dec-12
		Fair Value		Gross Unrealized Losses			# of Securities		Fair Value				Gross Unrealized Losses				# of Securities
	Continuous unrealized loss position for less than 12 months:
	Agency MBS	$	1,912,937	$	(43,543	)	150		$	1,026,277			$	(6,552	)		83
	Non-Agency MBS	162,558		(5,435		)	39		13,877				(76		)		3
	Continuous unrealized loss position for 12 months or longer:
	Agency MBS	$	670,402	$	(20,433	)	67		$	271,719			$	(5,797	)		34
	Non-Agency MBS	6,310		(155		)	6		2,701				(198		)		8

Securitized_Mortgage_Loans_Tab

Securitized Mortgage Loans (Tables)	12 Months Ended
	Dec. 31, 2013
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]	'
Schedule of Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Table Text Block]	'
	The following table summarizes the components of securitized mortgage loans, net of allowance for loan losses as of December 31, 2013 and December 31, 2012:
		31-Dec-13									31-Dec-12
		Commercial			Single-family			Total			Commercial			Single-family			Total
	Principal/par value (1)	$	21,442		$	34,191		$	55,633		$	30,576		$	41,337		$	71,913
	Unamortized (discount) premium	(1,126		)	498			(628		)	(1,267		)	616			(651		)
	Amortized cost	20,316			34,689			55,005			29,309			41,953			71,262
	Allowance for loan losses	(102		)	(155		)	(257		)	(150		)	(289		)	(439		)
		$	20,214		$	34,534		$	54,748		$	29,159		$	41,664		$	70,823
	(1)	Includes funds held by trustees.
	The following table presents a summary of the changes in the carrying value of the Company's securitized mortgage loans, net for the year ended December 31, 2013:
		For the Year Ended
		31-Dec-13
		Commercial			Single-Family			Total
	Balance beginning of the period	$	29,159		$	41,664		$	70,823
	Principal repayments	(9,134		)	(7,146		)	(16,280		)
	Accretion (amortization) of discount (premium)	141			(118		)	23
	(Recoveries) charge-offs, net	(8		)	451			443
	Provision for loan losses	56			(317		)	(261		)
	Balance end of period	$	20,214		$	34,534		$	54,748

Repurchase_Agreements_Repurcha

Repurchase Agreements Repurchase Agreements (Tables)	12 Months Ended
	Dec. 31, 2013
Transfers and Servicing [Abstract]	'
Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block]	'
	The following tables present the components of the Company’s repurchase agreements as of December 31, 2013 and December 31, 2012 by the fair value and type of securities pledged as collateral to the repurchase agreements:
		December 31, 2013
	Collateral Type	Balance			Weighted		Fair Value of
					Average Rate		Collateral Pledged
	Agency RMBS	$	2,522,503		0.42	%	2,598,158
	Agency CMBS	246,849			0.39	%	306,318
	Agency CMBS IOs	369,948			1.16	%	449,072
	Non-Agency RMBS	10,569			1.8	%	12,746
	Non-Agency CMBS	303,674			1.27	%	367,859
	Non-Agency CMBS IO	106,803			1.27	%	136,227
	Securitization financing bonds	20,651			1.59	%	19,686
	Deferred costs	(243		)	n/a		n/a
		$	3,580,754		0.61	%	$	3,890,066
		December 31, 2012
	Collateral Type	Balance			Weighted		Fair Value of Collateral Pledged
					Average Rate
	Agency RMBS	$	2,365,982		0.48	%	$	2,458,200
	Agency CMBS	248,771			0.47	%	291,445
	Agency CMBS IOs	443,540			1.22	%	565,494
	Non-Agency RMBS	7,808			1.84	%	9,634
	Non-Agency CMBS	382,352			1.34	%	465,306
	Non-Agency CMBS IOs	88,221			1.46	%	113,942
	Securitization financing bonds	28,113			1.64	%	31,483
	Deferred costs	(659		)	n/a		n/a
		$	3,564,128		0.7	%	$	3,935,504
Repurchase Agreements, Original Maturity Schedule [Table Text Block]	'
	Company has been able to extend the average term to maturity of its repurchase agreements due to discontinuing cash flow hedge accounting effective June 30, 2013. The following table provides a summary of the original maturities as of December 31, 2013 and December 31, 2012:
	Original Maturity	December 31,			December 31,
		2013			2012
	30 days or less	$	206,112		$	622,957
	31 to 60 days	492,145			1,263,105
	61 to 90 days	665,020			298,660
	91 to 120 days	783,371			1,092,681
	121 to 190 days	1,434,349			287,384
		$	3,580,997		$	3,564,787

Derivatives_Tables

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	'
	The table below summarizes information about the Company’s derivative instruments on its consolidated balance sheet as of the dates indicated:
					December 31, 2013
	Type of Derivative Instrument	Accounting Designation		Balance Sheet Location:	Fair Value			Aggregate Notional Amount
	Interest rate swaps	Non-hedging		Derivative assets	$	18,488		$	575,000
	Interest rate swaps	Non-hedging			$	(1,336	)	$	215,000
	Eurodollar futures	Non-hedging			(5,345		)	9,000,000
				Derivative liabilities	$	(6,681	)	$	9,215,000
					31-Dec-12
	Type of Derivative Instrument	Accounting Designation		Balance Sheet Location:	Fair Value			Aggregate Notional Amount
	Interest rate swaps	Hedging			$	(39,813	)	$	1,435,000
	Interest rate swaps	Non-hedging			(2,724		)	27,000
				Derivative liabilities	$	(42,537	)	$	1,462,000
Description of Derivative Activity Volume	'The following table summarizes activity related to derivative instruments for the periods indicated:(amounts in thousands)Interest Rate Swaps Eurodollar FuturesNotional amount as of December 31, 2012:$1,462,000 $—Additions:380,000 20,250,000Settlements, terminations, or expirations:(1,052,000) (11,250,000)Notional amount as of December 31, 2013:(1)$790,000 $9,000,000(1)The Eurodollar futures notional amount as of December 31, 2013 represents the total notional of the 3-month contracts with expiration dates from 2016 to 2020. The maximum notional outstanding for any future 3-month period does not exceed $1,175,000.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	'
	The following table summarizes the contractual maturities remaining for the Company’s outstanding interest rate swap agreements as of December 31, 2013:
	Remaining	Notional Amount:			Weighted-Average
	Maturity	Trading			Fixed Rate Swapped
	37-48 months	185,000			0.92	%
	49-60 months	15,000			2.17	%
	61-72 months	385,000			1.58	%
	73-84 months	25,000			1.61	%
	109-127 months	180,000			2.13	%
		$	790,000		1.56	%
Schedule of Derivative Instruments Included in Trading Activities [Table Text Block]	'
	The tables below summarize the effect of the Company's interest rate derivatives reported in "loss on derivative instruments, net" on the Company's consolidated statements of net income for the periods indicated:
		Year Ended
		December 31,
	Type of Derivative Instrument	2013			2012			2011
	Interest rate swaps	$	9,315		$	(908	)	$	(2,825	)
	Eurodollar futures	(19,391		)	—			—
	Loss on derivative instruments, net	$	(10,076	)	$	(908	)	$	(2,825	)

NonRecourse_Collateralized_Fin1

Non-Recourse Collateralized Financing (Tables)	12 Months Ended
	Dec. 31, 2013
Debt Instrument [Line Items]	'
Schedule of Long-term Debt Instruments [Table Text Block]	'
		31-Dec-13						31-Dec-12
		Balance Outstanding			Value of			Balance Outstanding			Value of
					Collateral						Collateral
	Secured by single-family mortgage loans	$	13,134		$	13,950		$	15,974		$	17,309
	Secured by non-Agency CMBS	—			—			15,000			15,825
	Unamortized bond premium	(220		)	n/a			(470		)	n/a
		$	12,914		$	13,950		$	30,504		$	33,134
	The following table presents a summary of the changes in the carrying value of the Company's non-recourse collateralized financing for the year ended December 31, 2013:
		Secured by Non-Agency CMBS			Secured by Single-Family Mortgage Loans			Total
	Balance, December 31, 2012	$	14,807		$	15,697		$	30,504
	Principal repayments	(15,000		)	(2,839		)	(17,839		)
	Amortization of bond premium	193			56			249
	Balance, December 31, 2013	$	—		$	12,914		$	12,914

Offsetting_Assets_and_Liabilit1

Offsetting Assets and Liabilities Offsetting Assets (Tables)	12 Months Ended
	Dec. 31, 2013
Offsetting Assets [Line Items]	'
Offsetting Assets [Table Text Block]	'
		Offsetting of Assets
		Gross Amount of Recognized Assets		Gross Amount Offset in the Balance Sheet		Net Amount of Assets Presented in the Balance Sheet		Gross Amount Not Offset in the Balance Sheet						Net Amount
								Financial Instruments Received as Collateral			Cash Received as Collateral
	31-Dec-13
	Derivative assets	$	18,488	$	—	$	18,488	$	(193	)	$	(12,141	)	$	6,154
	December 31, 2012:
	Derivative assets	$	—	$	—	$	—	$	—		$	—		$	—

Offsetting_Assets_and_Liabilit2

Offsetting Assets and Liabilities Offsetting Liabilities (Tables)	12 Months Ended
	Dec. 31, 2013
Offsetting Liabilities [Line Items]	'
Offsetting Liabilities [Table Text Block]	'
		Offsetting of Liabilities
		Gross Amount of Recognized Liabilities		Gross Amount Offset in the Balance Sheet		Net Amount of Liabilities Presented in the Balance Sheet		Gross Amount Not Offset in the Balance Sheet						Net Amount
								Financial Instruments Posted as Collateral			Cash Posted as Collateral
	31-Dec-13
	Derivative liabilities	$	6,681	$	—	$	6,681	$	(1,299	)	$	(5,382	)	$	—
	Repurchase agreements	3,580,754		—		3,580,754		(3,580,754		)	—			—
		$	3,587,435	$	—	$	3,587,435	$	(3,582,053	)	$	(5,382	)	$	—
	December 31, 2012:
	Derivative liabilities	$	42,537	$	—	$	42,537	$	(42,499	)	$	(38	)	$	—
	Repurchase agreements	3,564,128		—		3,564,128		(3,564,128		)	—			—
		$	3,606,665	$	—	$	3,606,665	$	(3,606,627	)	$	(38	)	$	—

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	'
	The following table presents the fair value of the Company’s assets and liabilities, segregated by the hierarchy level of the fair value estimate, that are measured at fair value on a recurring basis as of the dates indicated:
		December 31, 2013
		Fair Value				Level 1 - Unadjusted Quoted Prices in Active Markets			Level 2 - Observable Inputs			Level 3 - Unobservable Inputs
	Assets:
	Mortgage-backed securities	$	4,018,161			$	—		$	3,944,681		$	73,480
	Derivative assets	18,488				—			18,488			—
	Total assets carried at fair value	$	4,036,649			$	—		$	3,963,169		$	73,480
	Liabilities:
	Derivative liabilities	$	6,681			$	5,345		$	1,336		$	—
	Total liabilities carried at fair value	$	6,681			$	5,345		$	1,336		$	—
		December 31, 2012
		Fair Value				Level 1 - Unadjusted Quoted Prices in Active Markets			Level 2 - Observable Inputs			Level 3 - Unobservable Inputs
	Assets:
	Mortgage-backed securities	$	4,103,981			$	—		$	3,998,761		$	105,220
	Other investments	25				—			—			25
	Total assets carried at fair value	$	4,104,006			$	—		$	3,998,761		$	105,245
	Liabilities:
	Derivative liabilities	$	42,537			$	—		$	42,537		$	—
	Total liabilities carried at fair value	$	42,537			$	—		$	42,537		$	—
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	'
	The table below presents information about the significant unobservable inputs used in the fair value measurement for the Company's Level 3 non-Agency CMBS and RMBS as of December 31, 2013:
		Quantitative Information about Level 3 Fair Value Measurements (1)
		Prepayment Speed		Default Rate			Severity		Discount Rate
	Non-Agency CMBS	20 CPY		2.5	%		35	%	8.7	%
	Non-Agency RMBS	10 CPR		1	%		19.2	%	8.1	%
	-1	Data presented are weighted averages.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following table presents the activity of the instruments fair valued at Level 3 during the year ended December 31, 2013:
		Year Ended
		December 31, 2013
		Level 3 Fair Values
		Non-Agency CMBS				Non-Agency RMBS			Other			Total assets
	Balance as of January 1, 2011	$	123,703			$	10,296		$	25		$	134,024
	Purchases	—				7,500			—			7,500
	Transfers out to Level 2	(4,670		)		—			—			(4,670		)
	Change in fair value included in OCI	(59		)		86			—			27
	Principal payments	(18,437		)		(12,804		)	—			(31,241		)
	(Amortization) accretion	(435		)		40			—			(395		)
	Balance as of December 31, 2012	$	100,102			$	5,118		$	25		$	105,245
	Purchases	26,021				—			—			26,021
	Sales/write-offs to net income	—				—			(25		)	(25		)
	Change in fair value included in OCI	(6,026		)		5			—			(6,021		)
	Principal payments	(49,167		)		(2,421		)	—			(51,588		)
	(Amortization) accretion	(197		)		45			—			(152		)
	Balance as of December 31, 2013	$	70,733			$	2,747		$	—		$	73,480
Recorded basis and fair value [Table Text Block]	'
	The following table presents a summary of the recorded basis and estimated fair values of the Company’s financial instruments as of the dates indicated:
		December 31, 2013							December 31, 2012
		Recorded Basis				Fair Value			Recorded Basis			Fair Value
	Assets:
	Mortgage-backed securities	$	4,018,161			$	4,018,161		$	4,103,981		$	4,103,981
	Securitized mortgage loans, net (1)	54,748				45,750			70,823			61,916
	Other investments (1)	675				633			858			810
	Derivative assets	18,488				18,488			—			—
	Liabilities:
	Repurchase agreements (2)	$	3,580,754			$	3,580,997		$	3,564,128		$	3,564,787
	Non-recourse collateralized financing (1)	12,914				12,414			30,504			30,756
	Derivative liabilities	6,681				6,681			42,537			42,537

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]	'
	The following table presents a summary of the changes in the number of common shares outstanding for the periods presented:
		2013		2012
	Balance as of January 1,	54,268,915		40,382,530
	Common stock issued under DRIP	515,257		13,480
	Common stock issued under ATM program	180,986		402,494
	Common stock issued or redeemed under stock and incentive plans	270,158		241,663
	Common stock issued via public offering	—		13,332,748
	Common stock forfeited for tax withholding on share-based compensation	(52,385	)	—
	Common stock repurchased during the period (weighted average price of $8.09 and $8.86 per share, respectively)	(872,447	)	(104,000	)
	Balance as of December 31,	54,310,484		54,268,915
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	'
	The following table presents a rollforward of the restricted stock activity for the periods indicated:
		Year Ended
		December 31,
		2013		2012
	Restricted stock outstanding as of beginning of period	448,283		365,506
	Restricted stock granted	255,158		220,821
	Restricted stock vested	(182,472	)	(138,044	)
	Restricted stock outstanding as of end of period	520,969		448,283

Shareholders_Equity_Common_sto

Shareholders' Equity Common stock dividends declared (Tables) (Capital Gain [Member])	12 Months Ended
	Dec. 31, 2013
Capital Gain [Member]	'
Tax characterization of dividends declared [Line Items]	'
Common dividends declared [Table Text Block]	'
	The following table summarizes dividends declared per share of common stock for years ending December 31, 2013, 2012, and 2011 and their related tax characterization:
				Tax Characterization
		Dividends Declared per Common Share		Ordinary		Capital Gain		Return of Capital
	Year ended December 31, 2013	$	1.12	$	1.065	$	0.055	$	—
	Year ended December 31, 2012	1.15		1.0038		0.1462		—
	Year ended December 31, 2011	1.09		0.9822		0.1078		—

Selected_Quarterly_Results_Tab

Selected Quarterly Results (Tables)	12 Months Ended
	Dec. 31, 2013
Selected Quarterly Results [Abstract]	'
Schedule of Quarterly Financial Information [Table Text Block]	'
		Year Ended December 31, 2013
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	22,526	$	22,444		$	22,948		$	20,186
	Net interest income after provision for loan losses	22,265		22,444			22,948			20,186
	Net income to common shareholders	18,381		29,442			(6,921		)	19,266
	Comprehensive income (loss) to common shareholders	27,427		(67,215		)	(6,184		)	19,813
	Basic net income per common share	$	0.34	$	0.54		$	(0.13	)	$	0.35
	Diluted net income per common share	$	0.34	$	0.54		$	(0.13	)	$	0.35
	Cash dividends declared per common share	$	0.29	$	0.29		$	0.27		$	0.27
		Year Ended December 31, 2012
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	19,147	$	19,008		$	19,100		$	21,145
	Net interest income after provision for loan losses	19,087		19,008			18,990			21,123
	Net income to common shareholders	16,476		18,847			18,353			18,330
	Comprehensive income to common shareholders	42,655		17,429			52,737			14,951
	Basic net income per common share	$	0.33	$	0.35		$	0.34		$	0.34
	Diluted net income per common share	$	0.33	$	0.35		$	0.34		$	0.34
	Cash dividends declared per common share	$	0.28	$	0.29		$	0.29		$	0.29
		Year Ended December 31, 2011
		First Quarter		Second Quarter			Third Quarter			Fourth Quarter
	Operating results:
	Net interest income	$	12,731	$	15,033		$	14,559		$	16,972
	Net interest income after provision for loan losses	12,481		14,833			14,259			16,851
	Net income to common shareholders	10,280		13,594			1,532			14,406
	Comprehensive income (loss) to common shareholders	6,606		13,910			(6,772		)	12,756
	Basic net income per common share	$	0.31	$	0.34		$	0.04		$	0.36
	Diluted net income per common share	$	0.31	$	0.34		$	0.04		$	0.36
	Cash dividends declared per common share	$	0.27	$	0.27		$	0.27		$	0.28

Net_Income_Per_Common_Share_De

Net Income Per Common Share (Details) (USD $)

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net Income

'

'

'

'

'

'

'

'

'

'

'

'

$68,069

$74,042

$39,812

Preferred Stock Dividends

'

'

'

'

'

'

'

'

'

'

'

'

-7,902

-2,036

0

Net income to common shareholders

19,266

-6,921

29,442

18,381

18,330

18,353

18,847

16,476

14,406

1,532

13,594

10,280

60,167

72,006

39,812

Effect of dilutive stock options, income

'

'

'

'

'

'

'

'

'

'

'

'

0

'

'

Diluted net income

'

'

'

'

'

'

'

'

'

'

'

'

$60,167

$72,006

'

Weighted Average Common Shares

'

'

'

'

'

'

'

'

'

'

'

'

54,647,643

53,146,416

38,579,780

Effect of dilutive stock options, number of shares

'

'

'

'

'

'

'

'

'

'

'

'

0

'

799

Diluted, Weighted Average Number Common Shares

'

'

'

'

'

'

'

'

'

'

'

'

54,647,643

53,146,416

38,580,579

Basic Net Income Per Common Share

$0.35

($0.13)

$0.54

$0.34

$0.34

$0.34

$0.35

$0.33

$0.36

$0.04

$0.34

$0.31

$1.10

$1.35

$1.03

Diluted Net Income Per Common Share

$0.35

($0.13)

$0.54

$0.34

$0.34

$0.34

$0.35

$0.33

$0.36

$0.04

$0.34

$0.31

$1.10

$1.35

$1.03

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

'

'

'

'

15,000

'

'

'

'

'

'

'

'

'

'

Mortgage_Backed_Securities_Mor2

Mortgage Backed Securities Mortgage backed securities designated as AFS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	$3,254,946	$3,181,586
Investments, Unamortized Premium (Discount), Net	758,950	800,080
Available-for-sale Securities, Amortized Cost Basis	4,013,896	3,981,666
Available-for-sale Debt Securities Gross Unrealized Gain	45,114	104,869
Available-for-sale Debt Securities, Gross Unrealized Loss	-69,566	-12,623
Mortgage-backed Securities Available-for-sale, Fair Value	3,989,444	4,073,912
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	2,865,398	2,706,428
Investments, Unamortized Premium (Discount), Net	627,047	709,246
Available-for-sale Securities, Amortized Cost Basis	3,492,445	3,415,674
Available-for-sale Debt Securities Gross Unrealized Gain	26,792	59,265
Available-for-sale Debt Securities, Gross Unrealized Loss	-63,976	-12,349
Mortgage-backed Securities Available-for-sale, Fair Value	3,455,261	3,462,590
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	2,591,568	2,425,826
Investments, Unamortized Premium (Discount), Net	154,220	137,168
Available-for-sale Securities, Amortized Cost Basis	2,745,788	2,562,994
Available-for-sale Debt Securities Gross Unrealized Gain	6,104	19,477
Available-for-sale Debt Securities, Gross Unrealized Loss	-59,742	-11,134
Mortgage-backed Securities Available-for-sale, Fair Value	2,692,150	2,571,337
Investments, Weighted Average Coupon Rate	3.22%	3.67%
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Mortgage Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	273,830	280,602
Investments, Unamortized Premium (Discount), Net	19,061	21,907
Available-for-sale Securities, Amortized Cost Basis	292,891	302,509
Available-for-sale Debt Securities Gross Unrealized Gain	10,793	21,570
Available-for-sale Debt Securities, Gross Unrealized Loss	-900	-6
Mortgage-backed Securities Available-for-sale, Fair Value	302,784	324,073
Investments, Weighted Average Coupon Rate	5.07%	5.19%
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Interest-Only-Strip [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	0	0
Notional balance for interest only securities	10,160,502	2,393,614
Investments, Unamortized Premium (Discount), Net	453,766	550,171
Available-for-sale Securities, Amortized Cost Basis	453,766	550,171
Available-for-sale Debt Securities Gross Unrealized Gain	9,895	18,218
Available-for-sale Debt Securities, Gross Unrealized Loss	-3,334	-1,209
Mortgage-backed Securities Available-for-sale, Fair Value	460,327	567,180
Investments, Weighted Average Coupon Rate	0.83%	0.95%
Mortgage-backed Securities, Issued by Private Enterprises [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	389,548	475,158
Investments, Unamortized Premium (Discount), Net	131,903	90,834
Available-for-sale Securities, Amortized Cost Basis	521,451	565,992
Available-for-sale Debt Securities Gross Unrealized Gain	18,322	45,604
Available-for-sale Debt Securities, Gross Unrealized Loss	-5,590	-274
Mortgage-backed Securities Available-for-sale, Fair Value	534,183	611,322
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Residential Mortgage Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	13,845	11,411
Investments, Unamortized Premium (Discount), Net	-338	-781
Available-for-sale Securities, Amortized Cost Basis	13,507	10,630
Available-for-sale Debt Securities Gross Unrealized Gain	338	606
Available-for-sale Debt Securities, Gross Unrealized Loss	-80	-198
Mortgage-backed Securities Available-for-sale, Fair Value	13,765	11,038
Investments, Weighted Average Coupon Rate	4.61%	4.28%
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Commercial Mortgage Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	375,703	463,747
Investments, Unamortized Premium (Discount), Net	-18,277	-17,313
Available-for-sale Securities, Amortized Cost Basis	357,426	446,434
Available-for-sale Debt Securities Gross Unrealized Gain	15,366	39,944
Available-for-sale Debt Securities, Gross Unrealized Loss	-3,511	-36
Mortgage-backed Securities Available-for-sale, Fair Value	369,281	486,342
Investments, Weighted Average Coupon Rate	5.10%	5.31%
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Interest-Only-Strip [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Investment Owned, Balance, Principal Amount	0	0
Notional balance for interest only securities	4,274,957	10,059,495
Investments, Unamortized Premium (Discount), Net	150,518	108,928
Available-for-sale Securities, Amortized Cost Basis	150,518	108,928
Available-for-sale Debt Securities Gross Unrealized Gain	2,618	5,054
Available-for-sale Debt Securities, Gross Unrealized Loss	-1,999	-40
Mortgage-backed Securities Available-for-sale, Fair Value	151,137	113,942
Investments, Weighted Average Coupon Rate	0.66%	0.86%
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	1,912,937	1,026,277
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss	-43,543	-6,552
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year	150	83
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	670,402	271,719
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	-20,433	-5,797
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year	67	34
Mortgage-backed Securities, Issued by Private Enterprises [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	162,558	13,877
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss	-5,435	-76
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year	39	3
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	6,310	2,701
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss	($155)	($198)
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year	6	8

Mortgage_Backed_Securities_Mor3

Mortgage Backed Securities Mortgage backed securities designated as Trading (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Schedule of Trading Securities and Other Trading Assets [Line Items]	'	'
Trading Securities, Debt	$28,717	$30,069
Trading Securities, Amortized cost	26,920	27,535
Unrealized Gain on Securities	'	735
Unrealized Loss on Securities	($652)	'

Securitized_Mortgage_Loans_Det

Securitized Mortgage Loans (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]	'	'	'
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement	$55,633,000	$71,913,000	'
Unamortized premium (discount) on securitized mortgage loans	-628,000	-651,000	'
Amortized cost of securitized mortgage loans	55,005,000	71,262,000	'
Allowance for loan losses, securitized mortgage loans	257,000	439,000	'
Securitized mortgage loans, net, total	54,748,000	70,823,000	'
Principal repayments on securitized mortgage loans	-16,280,000	'	'
Accretion (amortization) of discounts (premiums), securitized mortgage loans	-23,000	'	'
(Recoveries) charge-offs, net	443,000	'	'
Provision for loan losses	261,000	192,000	871,000
Securitized mortgage loans, seriously delinquent	0	'	'
Commercial Loan [Member]	'	'	'
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]	'	'	'
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement	21,442,000	30,576,000	'
Unamortized discount on commercial securitized mortgage loans	-1,126,000	-1,267,000	'
Amortized cost of commercial securitized mortgage loans	20,316,000	29,309,000	'
Allowance for loan losses, commercial securitized mortgage loans	102,000	150,000	'
Securitized mortgage loans, net, commercial	20,214,000	29,159,000	'
Principal repayments on securitized mortgage loans	-9,134,000	'	'
Accretion (amortization) of discounts (premiums), securitized mortgage loans	-141,000	'	'
(Recoveries) charge-offs, net	-8,000	'	'
Provision for loan losses	56,000	'	'
Loan-to-value ratio, Percentage	0.00%	0.00%	'
Single-family [Member]	'	'	'
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]	'	'	'
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement	34,191,000	41,337,000	'
Unamortized premium on single-family securitized mortgage loans	498,000	616,000	'
Amortized cost of single-family securitized mortgage loans	34,689,000	41,953,000	'
Allowance for loan losses, single-family securitized mortgage loans	155,000	289,000	'
Securitized mortgage loans, net, single-family	34,534,000	41,664,000	'
Principal repayments on securitized mortgage loans	-7,146,000	'	'
Accretion (amortization) of discounts (premiums), securitized mortgage loans	118,000	'	'
(Recoveries) charge-offs, net	451,000	'	'
Provision for loan losses	317,000	'	'
Loan-to-value ratio, Percentage	0.00%	0.00%	'
Securitized mortgage loans, seriously delinquent	$2,758,000	$3,380,000	'

Repurchase_Agreements_Details

Repurchase Agreements (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
REPURCHASE AGREEMENTS [Abstract]	'	'
Repurchase Agreements, Maturities	'P114D	'P67D
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	$3,580,754	$3,564,128
Repurchage agreement, Weighted Average Interest Rate	0.61%	0.70%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	3,890,066	3,935,504
Deferred Costs	-243	-659
Bonds [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	20,651	28,113
Repurchage agreement, Weighted Average Interest Rate	1.59%	1.64%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	19,686	31,483
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	2,522,503	2,365,982
Repurchage agreement, Weighted Average Interest Rate	0.42%	0.48%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	2,598,158	2,458,200
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	10,569	7,808
Repurchage agreement, Weighted Average Interest Rate	1.80%	1.84%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	12,746	9,634
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	246,849	248,771
Repurchage agreement, Weighted Average Interest Rate	0.39%	0.47%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	306,318	291,445
Commercial Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	303,674	382,352
Repurchage agreement, Weighted Average Interest Rate	1.27%	1.34%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	367,859	465,306
Interest-Only-Strip [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	369,948	443,540
Repurchage agreement, Weighted Average Interest Rate	1.16%	1.22%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	449,072	565,494
Interest-Only-Strip [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase agreement, balance	106,803	88,221
Repurchage agreement, Weighted Average Interest Rate	1.27%	1.46%
Pledged Financial Instruments, Not Separately Reported, Mortgage-Related Securities Available-for-sale or Held-for-investment	$136,227	$113,942

Repurchase_Agreements_Repurcha1

Repurchase Agreements Repurchase Agreements By Maturity Period (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Deferred Costs	$243	$659
Maturity up to 30 days [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	206,112	622,957
Maturity 31 to 60 days [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	492,145	1,263,105
Matuity 61 to 90 days [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	665,020	298,660
Maturity 91 to 120 days [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	783,371	1,092,681
Maturity 121 to 190 days [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	1,434,349	287,384
Repurchase Agreements [Member]	'	'
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]	'	'
Repurchase Agreements, Maturities	$3,580,997	$3,564,787

Repurchase_Agreements_Counterp

Repurchase Agreements Counterparty Information (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Agreements
Counterparty Information [Line Items]	'
Concentration Risk, Percentage	$91,769
Amount outstanding with counterparty	371,753
Weighted average interest rate, amount outstanding with counterparty	1.21%
Line of Credit Facility, Amount Outstanding	171,769
Line of Credit Facility, Maximum Borrowing Capacity	$250,000
Line of Credit Facility, Interest Rate at Period End	1.43%
Number of Counterparties with Borrowings Outstanding	22
Available Repurchase Agreement Counterparties	31

Derivatives_Details

Derivatives (Details) (USD $)

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Hedging instrument [Member]

Not Designated as Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Eurodollar Future [Member]

Eurodollar Future [Member]

Eurodollar Future [Member]

Eurodollar Future [Member]

Forward Contracts [Member]

Interest Rate Swap Agreements, Maturities in Next 37-48 Months [Member]

Interest Rate Swap Agreements, Maturities in Next 49-60 Months [Member]

Interest Rate Swap Agreements, Maturities in Next 61-72 Months [Member]

Interest Rate Swap Agreements, Maturities in Next 73-84 Months [Member]

Interest Rate Swap Agreements, Maturities in Next 109-127 Months [Member]

Interest Rate Swap [Member]

Not Designated as Hedging Instrument [Member]

Not Designated as Hedging Instrument [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Interest Rate Swap [Member]

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative assets

$18,488

$0

'

'

$18,488

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Asset, Notional Amount

'

'

'

'

575,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value

'

'

'

'

'

-2,724

'

'

'

1,336

'

'

'

-5,345

'

'

'

'

'

'

'

Derivative Liabilities

6,681

42,537

'

'

-6,681

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liability, Notional Amount

'

1,462,000

'

1,435,000

9,215,000

27,000

'

'

'

215,000

'

'

'

9,000,000

'

'

'

'

'

'

'

Cash Flow Hedge Derivative Instrument Liabilities at Fair Value

'

'

'

-39,813

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative, Notional Amount

'

'

'

'

'

'

'

'

1,462,000

790,000

'

'

0

9,000,000

150,000

185,000

15,000

385,000

25,000

180,000

'

Description of Derivative Activity Volume

'The following table summarizes activity related to derivative instruments for the periods indicated:(amounts in thousands)Interest Rate Swaps Eurodollar FuturesNotional amount as of December 31, 2012:$1,462,000 $—Additions:380,000 20,250,000Settlements, terminations, or expirations:(1,052,000) (11,250,000)Notional amount as of December 31, 2013:(1)$790,000 $9,000,000(1)The Eurodollar futures notional amount as of December 31, 2013 represents the total notional of the 3-month contracts with expiration dates from 2016 to 2020. The maximum notional outstanding for any future 3-month period does not exceed $1,175,000.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notional Amount of Derivative Instruments Added

'

'

'

'

'

'

'

'

'

'

'

20,250,000

'

'

'

'

'

'

'

'

380,000

Notional Amount of Derivative Instruments Terminated

'

'

'

'

'

'

'

'

'

'

'

-11,250,000

'

'

'

'

'

'

'

'

1,052,000

Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net

'

'

'

'

'

'

-2,825

9,315

-908

'

0

-19,391

0

'

'

'

'

'

'

'

'

Loss on derivative instruments, net

($10,076)

($908)

($2,825)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted-average Fixed Rate Swapped

'

'

'

'

'

'

'

1.56%

'

'

'

'

'

'

2.17%

0.92%

2.17%

1.58%

1.61%

2.13%

'

Derivatives_Derivative_Effect_

Derivatives Derivative Effect on Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative [Line Items]	'	'	'	'	'
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	$9,365,000	'	$9,365,000	'	'
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	13,989	'	'	14,448	11,604
Dedesignated cash flow hedge amortization	'	'	0	'	'
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	'	$6,767,000	'	'	'

NonRecourse_Collateralized_Fin2

Non-Recourse Collateralized Financing (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]	'	'
Repayments of Debt	($17,839)	'
Amortization of Debt Discount (Premium)	249	'
Debt Instrument, Collateral Amount	13,950	33,134
Long-term Debt	12,914	30,504
Weighted average life remaining, non-recourse debt	'3.1	'
Debt Instrument, Description of Variable Rate Basis	'1-month LIBOR	'
Debt Instrument, Basis Spread on Variable Rate	0.30%	'
Debt Instrument, Unamortized Premium	-220	-470
Secured by single family securitized mortgage loans [Member]	'	'
Debt Instrument [Line Items]	'	'
Repayments of Debt	-2,839	'
Amortization of Debt Discount (Premium)	56	'
Debt Instrument, Collateral Amount	13,950	17,309
Non-Recourse Debt	13,134	15,974
Long-term Debt	12,914	15,697
Secured by non-Agency CMBS [Member]	'	'
Debt Instrument [Line Items]	'	'
Repayments of Debt	-15,000	'
Amortization of Debt Discount (Premium)	193	'
Debt Instrument, Collateral Amount	0	15,825
Non-Recourse Debt	0	15,000
Long-term Debt	$0	$14,807

Offsetting_Assets_and_Liabilit3

Offsetting Assets and Liabilities Offsetting Assets (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Offsetting Assets [Line Items]	'	'
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	$18,488	'
Derivative Asset, Fair Value, Gross Asset	'	0
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	18,488	0
Derivative, Collateral, Obligation to Return Securities	-193	0
Derivative, Collateral, Obligation to Return Cash	-12,141	0
Derivative Asset, Fair Value, Amount Offset Against Collateral	$6,154	$0

Offsetting_Assets_and_Liabilit4

Offsetting Assets and Liabilities Offsettting Liabilities (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Offsetting Liabilities [Line Items]	'	'
Derivative Liability, Fair Value, Gross Liability	$6,681	$42,537
Derivative Liability, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	6,681	42,537
Derivative, Collateral, Right to Reclaim Securities	-1,299	-42,499
Derivative, Collateral, Right to Reclaim Cash	-5,382	-38
Derivative Liability, Fair Value, Amount Offset Against Collateral	0	0
Securities Sold under Agreements to Repurchase, Gross	3,580,754	3,564,128
Securities Sold under Agreements to Repurchase, Asset	0	0
Repurchase agreements	3,580,754	3,564,128
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	-3,580,754	-3,564,128
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash	0	0
Securities Sold under Agreements to Repurchase, Amount Offset Against Collateral	0	0
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Gross	3,587,435	3,606,665
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Asset	0	0
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned	3,587,435	3,606,665
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Collateral, Right to Reclaim Securities	-3,582,053	-3,606,627
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Collateral, Right to Reclaim Cash	-5,382	-38
Derivative Liability, Securities Sold under Agreements to Resell, Securities Loaned, Amount Offset Against Collateral	$0	$0

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments Fair Value on a Recurring Basis (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, at fair value	$4,018,161	$4,103,981
Derivative assets	18,488	0
Derivative Liabilities	6,681	42,537
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, at fair value	4,018,161	4,103,981
Other Investments, Fair Value Disclosure	'	25
Derivative assets	18,488	'
Total assets carried at fair value	4,036,649	4,104,006
Derivative Liabilities	6,681	42,537
Total liabilities carried at fair value	6,681	42,537
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, at fair value	0	0
Other Investments, Fair Value Disclosure	'	0
Derivative assets	0	'
Total assets carried at fair value	0	0
Derivative Liabilities	5,345	0
Total liabilities carried at fair value	5,345	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, at fair value	3,944,681	3,998,761
Other Investments, Fair Value Disclosure	'	0
Derivative assets	18,488	'
Total assets carried at fair value	3,963,169	3,998,761
Derivative Liabilities	1,336	42,537
Total liabilities carried at fair value	1,336	42,537
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, at fair value	73,480	105,220
Other Investments, Fair Value Disclosure	'	25
Derivative assets	0	'
Total assets carried at fair value	73,480	105,245
Derivative Liabilities	0	0
Total liabilities carried at fair value	$0	$0

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments Significant Unobservable Inputs Level 3 (Details) (Fair Value, Measurements, Recurring [Member], Fair Value, Inputs, Level 3 [Member])	3 Months Ended
	Dec. 31, 2013
Commercial Mortgage Backed Securities [Member]	'
Fair Value Inputs, Quantitative Information [Abstract]	'
Fair Value Inputs, Prepayment Rate	0.00%
Fair Value Inputs, Probability of Default	0.00%
Fair Value Inputs, Loss Severity	0.00%
Fair Value Inputs, Discount Rate	0.00%
Residential Mortgage Backed Securities [Member]	'
Fair Value Inputs, Quantitative Information [Abstract]	'
Fair Value Inputs, Prepayment Rate	0.00%
Fair Value Inputs, Probability of Default	0.00%
Fair Value Inputs, Loss Severity	0.00%
Fair Value Inputs, Discount Rate	0.00%

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments Level 3 (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	'	($4,670)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Balance at the beginning of the period	105,245	134,024
Purchases, Level 3 Assets	26,021	7,500
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	-25	'
Unrealized (loss) gain included in OCI	-6,021	27
Principal payments	51,588	31,241
Amortization	-152	-395
Balance at the end of the period	73,480	105,245
Non-Agency CMBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Balance at the beginning of the period	100,102	123,703
Purchases, Level 3 Assets	26,021	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	'	-4,670
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	'
Unrealized (loss) gain included in OCI	-6,026	-59
Principal payments	49,167	18,437
Amortization	-197	-435
Balance at the end of the period	70,733	100,102
Non-Agency RMBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Balance at the beginning of the period	5,118	10,296
Purchases, Level 3 Assets	0	7,500
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	'	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	'
Unrealized (loss) gain included in OCI	5	86
Principal payments	2,421	12,804
Amortization	45	40
Balance at the end of the period	2,747	5,118
Other Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'
Balance at the beginning of the period	25	25
Purchases, Level 3 Assets	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	-25	'
Unrealized (loss) gain included in OCI	'	'
Principal payments	'	'
Amortization	'	'
Balance at the end of the period	$0	$25

Fair_Value_of_Financial_Instru5

Fair Value of Financial Instruments Recorded basis and Fair Value (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, Fair Value Disclosure	$3,989,444	$4,073,912
Derivative assets	18,488	0
Derivative Liabilities, Fair Value Disclosure	6,681	42,537
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, Fair Value Disclosure	4,018,161	4,103,981
Securitized mortgage loans, Fair Value Disclosure	54,748	70,823
Other Investments, Fair Value Disclosure	675	858
Derivative assets	18,488	0
Short-term Debt, Fair Value	3,580,754	3,564,128
Debt Instrument, Fair Value Disclosure	12,914	30,504
Derivative Liabilities, Fair Value Disclosure	6,681	42,537
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage-backed securities, Fair Value Disclosure	4,018,161	4,103,981
Securitized mortgage loans, Fair Value Disclosure	45,750	61,916
Other Investments, Fair Value Disclosure	633	810
Derivative assets	18,488	0
Short-term Debt, Fair Value	3,580,997	3,564,787
Debt Instrument, Fair Value Disclosure	12,414	30,756
Derivative Liabilities, Fair Value Disclosure	$6,681	$42,537

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Liquidation Preference Per Share

$25

'

'

'

'

'

'

'

'

'

'

'

$25

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at beginning of period

'

'

'

54,268,915

'

'

'

40,382,530

'

'

'

'

54,268,915

40,382,530

'

Common stock issued under DRIP

'

'

'

'

'

'

'

'

'

'

'

'

515,257

13,480

'

Common stock issued or redeemed under Stock and Incentive Plans

'

'

'

'

'

'

'

'

'

'

'

'

270,158

241,663

'

Common stock forfeited for tax withholding on share-based compensation

'

'

'

'

'

'

'

'

'

'

'

'

-52,385

'

'

Stock Repurchased During Period, Shares

'

'

'

'

'

'

'

'

'

'

'

'

-872,447

-104,000

'

Balance at end of period

54,310,484

'

'

'

54,268,915

'

'

'

40,382,530

'

'

'

54,310,484

54,268,915

40,382,530

Dividend reinvestment plan, shares authorized

3,000,000

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

'

Dividends declared per common share

$0.27

$0.27

$0.29

$0.29

$0.29

$0.29

$0.29

$0.28

$0.28

$0.27

$0.27

$0.27

$1.12

$1.15

$1.09

Stock Repurchase Program, Authorized Amount

'

'

'

'

'

'

'

'

'

'

'

'

$50,000

'

'

Stock Repurchase Program, Remaining Authorized Repurchase Amount

'

'

'

'

'

'

'

'

'

'

'

'

$42,145

'

'

Stock issued during period, remaining shares available, dividend reinvestment plan

2,466,898

'

'

'

'

'

'

'

'

'

'

'

2,466,898

'

'

At the market progam [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued under ATM program

'

'

'

'

'

'

'

'

'

'

'

'

180,986

402,494

'

Secondary offering [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued under ATM program

'

'

'

'

'

'

'

'

'

'

'

'

'

13,332,748

'

Series A Preferred Stock [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Dividend Rate, Percentage

8.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Issued

2,300,000

'

'

'

2,300,000

'

'

'

'

'

'

'

2,300,000

2,300,000

'

Series B Preferred Stock [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Dividend Rate, Percentage

7.63%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Issued

2,250,000

'

'

'

0

'

'

'

'

'

'

'

2,250,000

0

'

Common Stock [Member] | At the market progam [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

ATM program, authorized shares remaining

7,416,520

'

'

'

'

'

'

'

'

'

'

'

7,416,520

'

'

Stock Appreciation Rights (SARs) [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number

27,500

'

'

'

'

'

'

'

'

'

'

'

27,500

'

'

Share-based compensation arrangement other than option, vested and outstanding, price per share

$7.06

'

'

'

'

'

'

'

'

'

'

'

$7.06

'

'

Ordinary income [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per common share

'

'

'

'

'

'

'

'

'

'

'

'

$1.06

$1.00

$0.98

Capital Gain [Member]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders' Equity, Common Stock [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per common share

'

'

'

'

'

'

'

'

'

'

'

'

$0.06

$0.15

$0.11

Shareholders_Equity_Sharebased

Shareholders' Equity Share-based Compensation (Details) (USD $)	2 Months Ended	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Feb. 27, 2014	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Share-based incentive plan, number of shares authorized for issuance	'	'	2,500,000	'	'
Share-based incentive plan, number of shares remaining for issuance	'	'	1,550,118	'	'
Total share-based compensation expense	'	$1,828	$2,354	$917	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Granting and vesting of restricted stock	3,453	'	2,379	1,723	1,198
Restricted Stock [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Restricted stock outstanding at beginning of the period	'	'	448,283	365,506	'
Restricted stock granted during the period	'	'	255,158	220,821	'
Restricted stock vested during the period	'	'	-182,472	-138,044	'
Restricted stock outstanding at end of the period	'	448,283	520,969	448,283	'
Granting and vesting of restricted stock	'	'	2,708	2,073	'
Nonvested restricted stock, fair value remaining to be amortized	'	'	3,311	'	'
Restricted Stock [Member] | Up to one year [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Nonvested restricted stock, fair value remaining to be amortized	'	'	1,643	'	'
Restricted Stock [Member] | Two to three years [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Nonvested restricted stock, fair value remaining to be amortized	'	'	1,155	'	'
Restricted Stock [Member] | Three to four years [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Nonvested restricted stock, fair value remaining to be amortized	'	'	447	'	'
Restricted Stock [Member] | Four to five years [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options	'	'	'	'	'
Nonvested restricted stock, fair value remaining to be amortized	'	'	$0	'	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating Loss Carryforwards [Line Items]	'	'	'
Estimated REIT taxable income	$71,765	$73,962	$43,988
Income (Loss) from Equity Method Investments	721	'	'
Operating Loss Carryforwards	142,252,000	'	'
Operating Loss Carryforwards, Limitations on Use	'As a result of its common stock offering in February 2012, the Company incurred an "ownership change" under Section 382 of the Internal Revenue Code ("Section 382"). In general, if a company incurs an ownership change under Section 382, the company's ability to utilize an NOL carryforward to offset its taxable income after any required dividend distributions becomes limited to a certain amount per year. Due to the ownership change, the Company's ability to use its NOL is limited to an estimated $13,451 per year	'	'
Taxable REIT subsidiary [Member]	'	'	'
Operating Loss Carryforwards [Line Items]	'	'	'
Operating Loss Carryforwards	$3,504,000	$4,204,000	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Basic Capital Management, Inc et al [Member], DCI [Member], USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Loss Contingencies [Line Items]	'	'
Loss Contingency, Allegations	'	'alleged breach by DCI of a $160,000 “master” loan commitment
Damages Sought, Alleged Breach of Agreement, Tenant Improvements [Member] | Pending Litigation [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Damages Sought, Value	'	$250
Damages Sought, Mutually Exclusive Model 1 [Member] | Pending Litigation [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Damages Sought, Value	'	2,200
Damages Sought, Mutually Exclusive Model 2 [Member] | Pending Litigation [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Damages Sought, Value	'	25,600
Damages Sought, Reimbursement of Attorneys' Fees [Member] | Pending Litigation [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Damages Sought, Value	'	2,100
Former affiliates [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Damages Awarded, Value	'	25,600
Loss Contingency, Damages Appealed	'	25,600
Loss Contingency, Management's Assessment and Process	'Management believes the Company will not be obligated for any amounts that may ultimately be awarded against DCI.	'
Former affiliates [Member] | Breach of Loan Agreements [Member]	'	'
Loss Contingencies [Line Items]	'	'
Loss Contingency, Loan Commitment, Default Amount	'	$160,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transaction, Rate	8.00%
Due from Officers or Stockholders	$8,397

Selected_Quarterly_Results_Det

Selected Quarterly Results (Details) (USD $)	3 Months Ended												12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Selected Quarterly Results [Abstract]	'	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Net interest income	$20,186	$22,948	$22,444	$22,526	$21,145	$19,100	$19,008	$19,147	$16,972	$14,559	$15,033	$12,731	$88,104	$78,401	$59,295
Net interest income after provision for loan losses	20,186	22,948	22,444	22,265	21,123	18,990	19,008	19,087	16,851	14,259	14,833	12,481	87,843	78,209	58,424
Net income to common shareholders	19,266	-6,921	29,442	18,381	18,330	18,353	18,847	16,476	14,406	1,532	13,594	10,280	60,167	72,006	39,812
Comprehensive Income (Loss) to Common Shareholders	$19,813	($6,184)	($67,215)	$27,427	$14,951	$52,737	$17,429	$42,655	$12,756	($6,772)	$13,910	$6,606	($26,160)	$127,772	$26,500
Basic Net Income Per Common Share	$0.35	($0.13)	$0.54	$0.34	$0.34	$0.34	$0.35	$0.33	$0.36	$0.04	$0.34	$0.31	$1.10	$1.35	$1.03
Diluted Net Income Per Common Share	$0.35	($0.13)	$0.54	$0.34	$0.34	$0.34	$0.35	$0.33	$0.36	$0.04	$0.34	$0.31	$1.10	$1.35	$1.03
Dividends declared per common share	$0.27	$0.27	$0.29	$0.29	$0.29	$0.29	$0.29	$0.28	$0.28	$0.27	$0.27	$0.27	$1.12	$1.15	$1.09

Subsequent_Events_Restricted_s

Subsequent Events Restricted shares issued (Details) (USD $)	2 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Feb. 27, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Subsequent Event, Restricted Stock Issued [Abstract]	'	'	'	'
Restricted stock issued subsequent to period end, number of shares	428,363	'	'	'
Restricted stock issued subsequent to period end, value Value, Restricted Stock Award, Gross	$3,453	$2,379	$1,723	$1,198