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Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
--- | --- | --- | --- | ---
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Mortgage-backed securities |  | $ 3,026,989 | $ 3,212,084 |  |
U.S. Treasuries |  | 146,530 | 0 |  |
Derivative asset |  | 2,940 | 28,534 |  |
Total assets carried at fair value |  | 3,176,459 | 3,240,618 |  |
Derivative liabilities |  | 269 | 6,922 |  |
Total liabilities carried at fair value |  | 269 | 6,922 |  |
Level 1 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Mortgage-backed securities |  | 0 | 0 |  |
Total assets carried at fair value |  | 147,196 | 0 |  |
Total liabilities carried at fair value |  | 0 | 0 |  |
Level 2 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Mortgage-backed securities |  | 3,019,746 | 3,201,157 |  |
U.S. Treasuries |  | 0 |  |  |
Total assets carried at fair value |  | 3,022,020 | 3,229,691 |  |
Total liabilities carried at fair value |  | 269 | 6,922 |  |
Level 3 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Mortgage-backed securities |  | 7,243 | 10,927 |  |
U.S. Treasuries |  | 0 |  |  |
Total assets carried at fair value |  | 7,243 | 10,927 |  |
Total liabilities carried at fair value |  | 0 | 0 |  |
Interest rate swaps |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 791 | 28,534 |  |
Derivative liabilities |  |  | 6,922 |  |
Interest rate swaps | Level 1 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 | 0 |  |
Derivative liabilities |  |  | 0 |  |
Interest rate swaps | Level 2 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 791 | 28,534 |  |
Derivative liabilities |  |  | 6,922 |  |
Interest rate swaps | Level 3 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 | 0 |  |
Derivative liabilities |  |  | 0 |  |
Eurodollar futures |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 666 |  |  |
Eurodollar futures | Level 1 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 666 |  |  |
Eurodollar futures | Level 2 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 |  |  |
Eurodollar futures | Level 3 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 |  |  |
TBA securities |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset | [1] | 1,483 |  |  |
Derivative liabilities |  | 269 |  |  |
TBA securities | Level 1 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 |  |  |
Derivative liabilities |  | 0 |  |  |
TBA securities | Level 2 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 1,483 |  |  |
Derivative liabilities |  | 269 |  |  |
TBA securities | Level 3 |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Derivative asset |  | 0 |  |  |
Derivative liabilities |  | 0 |  |  |
Fair Value, Measurements, Recurring |  |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |  |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value |  | $ 7,243 | $ 10,927 | $ 16,435 | $ 43,957
[1] | Refer to Note 1 regarding information on a change in the CME rulebook. Amounts reported on the consolidated balance sheet as of December 31, 2017 for its interest rate swaps reflect the netting of the derivative asset or liability with the related collateral received or posted, respectively. The net amounts comparable to December 31, 2017 for the derivative asset and derivative liabilities as of December 31, 2016 were $104 and $(576), respectively.

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