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Mortgage Backed Securities Mortgage backed securities (Tables) | 3 Months Ended
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Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items] |
Schedule of Realized Gain (Loss) [Table Text Block] | The Company received proceeds of $102,923 and $59,799 for the sale of MBS during the three months ended March 31, 2015 and March 31, 2014, respectively. The following table presents the gross realized gains (losses) of those sales included in "gain (loss) on sale of investments, net" on the Company's consolidated statements of comprehensive income for the periods indicated:
| Three Months Ended
| March 31,
| 2015 |  | 2014
($ in thousands) | Gain (Loss) Recognized |  | Gain (Loss) Recognized
Gross realized gains on sales of MBS | $ | 1,773 |  |  | $ | 219 |
Gross realized losses on sales of MBS | (465 | ) |  | (3,526 | )
Total gain (loss) on sale of investments, net | $ | 1,308 |  |  | $ | (3,307 | )
Available-for-sale Securities [Table Text Block] | The following tables provide detail by type of investment for the Company’s MBS designated as AFS as of the dates indicated:
| March 31, 2015
| Par |  | Net Premium (Discount) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | WAC (1)
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | $ | 1,942,332 |  |  | $ | 104,352 |  |  | $ | 2,046,684 |  |  | $ | 11,271 |  |  | $ | (13,075 | ) |  | $ | 2,044,880 |  |  | 3.08 | %
Non-Agency | 76,647 |  |  | (69 | ) |  | 76,578 |  |  | 143 |  |  | (79 | ) |  | 76,642 |  |  | 3.57 | %
| 2,018,979 |  |  | 104,283 |  |  | 2,123,262 |  |  | 11,414 |  |  | (13,154 | ) |  | 2,121,522 |  |  |
CMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | 740,363 |  |  | 17,321 |  |  | 757,684 |  |  | 20,234 |  |  | (171 | ) |  | 777,747 |  |  | 3.68 | %
Non-Agency | 217,479 |  |  | (8,451 | ) |  | 209,028 |  |  | 7,600 |  |  | (363 | ) |  | 216,265 |  |  | 4.23 | %
| 957,842 |  |  | 8,870 |  |  | 966,712 |  |  | 27,834 |  |  | (534 | ) |  | 994,012 |  |  |
CMBS IO (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | — |  |  | 410,948 |  |  | 410,948 |  |  | 13,257 |  |  | (12 | ) |  | 424,193 |  |  | 0.87 | %
Non-Agency | — |  |  | 331,090 |  |  | 331,090 |  |  | 8,906 |  |  | — |  |  | 339,996 |  |  | 0.71 | %
| — |  |  | 742,038 |  |  | 742,038 |  |  | 22,163 |  |  | (12 | ) |  | 764,189 |  |  |
Total AFS securities: | $ | 2,976,821 |  |  | $ | 855,191 |  |  | $ | 3,832,012 |  |  | $ | 61,411 |  |  | $ | (13,700 | ) |  | $ | 3,879,723 |  |  |
(1) | The current weighted average coupon ("WAC") is the gross interest rate of the pool of mortgages underlying the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
(2) | The notional balance for Agency CMBS IO and non-Agency CMBS IO was $10,415,002 and $9,115,887, respectively, as of March 31, 2015.
| December 31, 2014
| Par |  | Net Premium (Discount) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | WAC (1)
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | $ | 2,086,807 |  |  | $ | 113,635 |  |  | $ | 2,200,442 |  |  | $ | 8,473 |  |  | $ | (22,215 | ) |  | $ | 2,186,700 |  |  | 3.09 | %
Non-Agency | 22,432 |  |  | (17 | ) |  | 22,415 |  |  | 107 |  |  | (74 | ) |  | 22,448 |  |  | 3.83 | %
| 2,109,239 |  |  | 113,618 |  |  | 2,222,857 |  |  | 8,580 |  |  | (22,289 | ) |  | 2,209,148 |  |  |
CMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | 301,943 |  |  | 18,042 |  |  | 319,985 |  |  | 15,288 |  |  | (76 | ) |  | 335,197 |  |  | 5.21 | %
Non-Agency | 210,358 |  |  | (8,520 | ) |  | 201,838 |  |  | 6,679 |  |  | (479 | ) |  | 208,038 |  |  | 5.10 | %
| 512,301 |  |  | 9,522 |  |  | 521,823 |  |  | 21,967 |  |  | (555 | ) |  | 543,235 |  |  |
CMBS IO (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | — |  |  | 426,564 |  |  | 426,564 |  |  | 12,252 |  |  | (79 | ) |  | 438,737 |  |  | 0.80 | %
Non-Agency | — |  |  | 319,280 |  |  | 319,280 |  |  | 6,069 |  |  | (230 | ) |  | 325,119 |  |  | 0.72 | %
| — |  |  | 745,844 |  |  | 745,844 |  |  | 18,321 |  |  | (309 | ) |  | 763,856 |  |  |
Total AFS securities: | $ | 2,621,540 |  |  | $ | 868,984 |  |  | $ | 3,490,524 |  |  | $ | 48,868 |  |  | $ | (23,153 | ) |  | $ | 3,516,239 |  |  |  |
(1) | The current weighted average coupon ("WAC") is the gross interest rate of the pool of mortgages underlying the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
(2) | The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $10,460,113 and $7,868,896, respectively, as of December 31, 2014.
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 the dates indicated:
| March 31, 2015 |  | December 31, 2014
| 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 | $ | 261,035 |  |  | $ | (531 | ) |  | 17 |  | $ | 322,741 |  |  | $ | (879 | ) |  | 24
Non-Agency MBS | 79,310 |  |  | (382 | ) |  | 13 |  | 111,778 |  |  | (625 | ) |  | 24
Continuous unrealized loss position for 12 months or longer: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 1,030,027 |  |  | $ | (12,727 | ) |  | 91 |  | $ | 1,321,323 |  |  | $ | (21,491 | ) |  | 113
Non-Agency MBS | 1,224 |  |  | (61 | ) |  | 4 |  | 18,037 |  |  | (159 | ) |  | 5

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