Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data (Details)

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Quarterly Financial Data (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
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, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest income:                      
Available-for-sale securities                 $ 507,180 $ 448,620 $ 197,126
Trading securities                 5,963 4,873 4,159
Mortgage loans held-for-sale                 22,185 609 2
Mortgage loans held-for-investment in securitization trusts                 19,220 0 0
Cash and cash equivalents                 1,043 944 347
Total interest income 137,457 137,974 145,325 134,835 137,332 126,309 105,904 85,501 555,591 455,046 201,634
Interest expense:                      
Repurchase agreements                 89,470 72,106 22,709
Collateralized borrowings in securitization trusts                 10,937 0 0
Total interest expense 26,922 24,927 24,722 23,836 24,369 20,743 15,527 11,467 100,407 72,106 22,709
Net interest income 110,535 113,047 120,603 110,999 112,963 105,566 90,377 74,034 455,184 382,940 178,925
Other-than-temporary impairment losses 0 0 (1,426) (236) (1,642) (559) (4,476) (4,275) (1,662) (10,952) (5,102)
Other income:                      
(Loss) gain on investment securities                 (54,430) 122,466 36,520
Gain (loss) on interest rate swap and swaption agreements                 245,229 (159,775) (86,769)
Gain (loss) on other derivative instruments                 95,345 (40,906) 26,755
(Loss) gain on mortgage loans held-for-sale                 (33,846) 2,270 0
Other income                 14,619 0 0
Total other income (loss) 162,021 (258,742) 339,640 49,890 76,526 (70,482) (66,792) (15,197) 292,809 (75,945) (23,494)
Expenses:                      
Management fees                 41,707 33,168 14,241
Securitization deal costs                 4,153 0 0
Other operating expenses                 37,259 17,678 9,673
Total expenses 27,275 24,178 22,077 13,350 16,141 12,883 11,529 10,293 86,880 50,846 23,914
Income from continuing operations before income taxes                 659,451 245,197 126,415
Provision for (benefit from) income taxes 6,602 23,726 49,119 4,964 (10,203) (7,834) (16,605) (7,577) 84,411 (42,219) (1,106)
Net income from continuing operations 238,679 (193,599) 387,621 142,339 181,909 29,476 24,185 51,846 575,040 287,416 127,521
Income (loss) from discontinued operations 735 871 1,016 1,377 7,391 (2,674) (181) (46) 3,999 4,490 (89)
Net income attributable to common stockholders $ 239,414 $ (192,728) $ 388,637 $ 143,716 $ 189,300 $ 26,802 $ 24,004 $ 51,800 $ 579,039 $ 291,906 $ 127,432
Basic earnings (loss) per weighted average common share:                      
Continuing operations $ 0.66 $ (0.53) $ 1.06 $ 0.47 $ 0.62 $ 0.11 $ 0.11 $ 0.28 $ 1.64 $ 1.19 $ 1.29
Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.02 $ (0.01) $ 0.00 $ 0.00 $ 0.01 $ 0.02 $ 0.00
Net income $ 0.66 $ (0.53) $ 1.06 $ 0.47 $ 0.64 $ 0.10 $ 0.11 $ 0.28 $ 1.65 $ 1.21 $ 1.29
Diluted earnings (loss) per weighted average common share:                      
Continuing operations $ 0.66 $ (0.53) $ 1.06 $ 0.47 $ 0.61 $ 0.11 $ 0.11 $ 0.28 $ 1.64 $ 1.18 $ 1.29
Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.03 $ (0.01) $ 0.00 $ 0.00 $ 0.01 $ 0.02 $ 0.00
Net income $ 0.66 $ (0.53) $ 1.06 $ 0.47 $ 0.64 $ 0.10 $ 0.11 $ 0.28 $ 1.65 $ 1.20 $ 1.29
Basic weighted average number of shares of common stock                 350,361,827 242,014,751 98,826,868
Diluted weighted average number of shares of common stock                 350,992,387 242,432,156 98,826,868