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Mortgage Backed Securities Mortgage backed securities (Tables) | 9 Months Ended
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Sep. 30, 2015
Schedule of Available-for-sale Securities [Line Items] |
Available-for-sale Securities [Table Text Block] | The following tables present the Company’s MBS by investment type as of the dates indicated:
| September 30, 2015
| Par |  | Net Premium (Discount) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | WAC (1)
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | $ | 1,631,942 |  |  | $ | 83,461 |  |  | $ | 1,715,403 |  |  | $ | 8,373 |  |  | $ | (12,903 | ) |  | $ | 1,710,873 |  |  | 3.04 | %
Non-Agency | 70,872 |  |  | (54 | ) |  | 70,818 |  |  | 95 |  |  | (271 | ) |  | 70,642 |  |  | 3.62 | %
| 1,702,814 |  |  | 83,407 |  |  | 1,786,221 |  |  | 8,468 |  |  | (13,174 | ) |  | 1,781,515 |  |  |
CMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | 943,934 |  |  | 14,983 |  |  | 958,917 |  |  | 18,260 |  |  | (1,674 | ) |  | 975,503 |  |  | 3.44 | %
Non-Agency | 195,200 |  |  | (8,310 | ) |  | 186,890 |  |  | 8,017 |  |  | (968 | ) |  | 193,939 |  |  | 3.88 | %
| 1,139,134 |  |  | 6,673 |  |  | 1,145,807 |  |  | 26,277 |  |  | (2,642 | ) |  | 1,169,442 |  |  |
CMBS IO (2): |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | — |  |  | 409,627 |  |  | 409,627 |  |  | 11,593 |  |  | (94 | ) |  | 421,126 |  |  | 0.69 | %
Non-Agency | — |  |  | 362,338 |  |  | 362,338 |  |  | 4,361 |  |  | (1,053 | ) |  | 365,646 |  |  | 0.62 | %
| — |  |  | 771,965 |  |  | 771,965 |  |  | 15,954 |  |  | (1,147 | ) |  | 786,772 |  |  |
Total AFS securities: | $ | 2,841,948 |  |  | $ | 862,045 |  |  | $ | 3,703,993 |  |  | $ | 50,699 |  |  | $ | (16,963 | ) |  | $ | 3,737,729 |  |  |
(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 $11,452,515 and $10,150,326, respectively, as of September 30, 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 |  |  | 4.33 | %
| 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.
Schedule of Realized Gain (Loss) [Table Text Block] | The Company's sale proceeds for MBS were $9,525 and $339,332 for three and nine months ended September 30, 2015, respectively, and $287,609 and $387,325 for the three and nine months ended September 30, 2014, respectively. The following table presents the gross realized gains (losses) of those sales included in "gain (loss) on sale of investments, net" on the Company's consolidated statements of comprehensive income for the periods indicated:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
($ in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Gross realized gains on sales of MBS | $ | 185 |  |  | $ | 10,579 |  |  | $ | 3,281 |  |  | $ | 11,269 |
Gross realized losses on sales of MBS | (72 | ) |  | (1,522 | ) |  | (3,351 | ) |  | (5,996 | )
Gain (loss) on sale of investments, net | $ | 113 |  |  | $ | 9,057 |  |  | $ | (70 | ) |  | $ | 5,273 |
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:
| September 30, 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 | $ | 513,689 |  |  | $ | (2,460 | ) |  | 32 |  | $ | 322,741 |  |  | $ | (879 | ) |  | 24
Non-Agency MBS | 233,058 |  |  | (1,740 | ) |  | 43 |  | 111,778 |  |  | (625 | ) |  | 24
Continuous unrealized loss position for 12 months or longer: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 831,652 |  |  | $ | (12,212 | ) |  | 73 |  | $ | 1,321,323 |  |  | $ | (21,491 | ) |  | 113
Non-Agency MBS | 29,539 |  |  | (552 | ) |  | 11 |  | 18,037 |  |  | (159 | ) |  | 5

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