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Investments in Debt Securities (Tables) | 3 Months Ended
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Mar. 31, 2018
Schedule of Available-for-sale Securities [Line Items] |
Available-for-sale Securities | The following table categorizes the Company’s debt securities according to their stated maturity as of the dates indicated:
|  | March 31, 2018 |  | December 31, 2017
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Less than 1 year |  | $ | 26,507 |  |  | $ | 26,699 |  |  | $ | 4,480 |  |  | $ | 4,542 |
>1 and <5 years |  | 198,463 |  |  | 200,395 |  |  | 208,046 |  |  | 210,727 |
>5 and <10 years |  | 1,243,105 |  |  | 1,214,133 |  |  | 1,334,795 |  |  | 1,326,178 |
> 10 years |  | 1,655,796 |  |  | 1,628,130 |  |  | 1,635,298 |  |  | 1,632,072 |
|  | $ | 3,123,871 |  |  | $ | 3,069,357 |  |  | $ | 3,182,619 |  |  | $ | 3,173,519 |
Schedule of Realized Gain (Loss) | The following table presents information regarding the sales that generated the “loss on sale of investments, net” on the Company’s consolidated statements of comprehensive income for the periods indicated:
| Three Months Ended
| March 31,
| 2018 |  | 2017
| Proceeds Received |  | Realized Gain (Loss) |  | Proceeds Received |  | Realized Gain (Loss)
Agency RMBS | $ | — |  |  | $ | — |  |  | $ | 57,164 |  |  | $ | (1,708 | )
Agency CMBS | 108,758 |  |  | (2,052 | ) |  | — |  |  | — |
U.S. Treasuries | 46,498 |  |  | (1,723 | ) |  | — |  |  | — |
| $ | 155,256 |  |  | $ | (3,775 | ) |  | $ | 57,164 |  |  | $ | (1,708 | )
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following table presents certain information for the AFS securities in an unrealized loss position as of the dates indicated:
| March 31, 2018 |  | December 31, 2017
| 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 | $ | 1,698,318 |  |  | $ | (41,169 | ) |  | 109 |  | $ | 1,293,798 |  |  | $ | (9,769 | ) |  | 71
Non-Agency MBS | 75,424 |  |  | (730 | ) |  | 18 |  | 51,406 |  |  | (421 | ) |  | 11
U.S. Treasuries | 96,758 |  |  | (3,289 | ) |  | 1 |  | 146,530 |  |  | (1,737 | ) |  | 1
Continuous unrealized loss position for 12 months or longer: |  |  |  |  |  |  |  |  |  |  |
Agency MBS | $ | 409,927 |  |  | $ | (21,341 | ) |  | 30 |  | $ | 423,698 |  |  | $ | (14,035 | ) |  | 30
Non-Agency MBS | 17,052 |  |  | (237 | ) |  | 11 |  | 20,414 |  |  | (323 | ) |  | 12
Debt Securities [Member] |
Schedule of Available-for-sale Securities [Line Items] |
Available-for-sale Securities | The following tables present the Company’s debt securities by investment type as of the dates indicated:
| March 31, 2018
| Par |  | Net Premium (Discount) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | WAC (1)
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency (2) | $ | 1,197,306 |  |  | $ | 46,341 |  |  | $ | 1,243,647 |  |  | $ | 1,224 |  |  | $ | (29,431 | ) |  | $ | 1,215,440 |  |  | 3.52 | %
Non-Agency | 994 |  |  | — |  |  | 994 |  |  | 32 |  |  | (19 | ) |  | 1,007 |  |  | 6.75 | %
| 1,198,300 |  |  | 46,341 |  |  | 1,244,641 |  |  | 1,256 |  |  | (29,450 | ) |  | 1,216,447 |  |  |
CMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | 1,004,572 |  |  | 10,914 |  |  | 1,015,486 |  |  | 1,095 |  |  | (32,516 | ) |  | 984,065 |  |  | 3.05 | %
Non-Agency | 7,777 |  |  | (3,679 | ) |  | 4,098 |  |  | 1,943 |  |  | — |  |  | 6,041 |  |  | 7.15 | %
| 1,012,349 |  |  | 7,235 |  |  | 1,019,584 |  |  | 3,038 |  |  | (32,516 | ) |  | 990,106 |  |  |
CMBS IO (3): |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | — |  |  | 358,471 |  |  | 358,471 |  |  | 4,175 |  |  | (561 | ) |  | 362,085 |  |  | 0.75 | %
Non-Agency | — |  |  | 294,092 |  |  | 294,092 |  |  | 3,040 |  |  | (948 | ) |  | 296,184 |  |  | 0.71 | %
| — |  |  | 652,563 |  |  | 652,563 |  |  | 7,215 |  |  | (1,509 | ) |  | 658,269 |  |  |
U.S. Treasuries: | 209,000 |  |  | (1,917 | ) |  | 207,083 |  |  | 741 |  |  | (3,289 | ) |  | 204,535 |  |  | 2.32 | %
Total AFS securities: | $ | 2,419,649 |  |  | $ | 704,222 |  |  | $ | 3,123,871 |  |  | $ | 12,250 |  |  | $ | (66,764 | ) |  | $ | 3,069,357 |  |  |
(1) | The weighted average coupon (“WAC”) is the gross interest rate of the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
(2) | Includes purchased securities pending settlement.
(3) | The notional balance for Agency CMBS IO and non-Agency CMBS IO was $14,208,611 and $10,944,703 respectively, as of March 31, 2018.
| December 31, 2017
| Par |  | Net Premium (Discount) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value |  | WAC (1)
RMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency (2) | $ | 1,146,553 |  |  | $ | 46,021 |  |  | $ | 1,192,574 |  |  | $ | 1,626 |  |  | $ | (9,939 | ) |  | $ | 1,184,261 |  |  | 3.56 | %
Non-Agency | 1,070 |  |  | — |  |  | 1,070 |  |  | 41 |  |  | (20 | ) |  | 1,091 |  |  | 6.75 | %
| 1,147,623 |  |  | 46,021 |  |  | 1,193,644 |  |  | 1,667 |  |  | (9,959 | ) |  | 1,185,352 |  |  |
CMBS: |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | 1,123,967 |  |  | 10,442 |  |  | 1,134,409 |  |  | 3,514 |  |  | (13,572 | ) |  | 1,124,351 |  |  | 3.03 | %
Non-Agency | 26,501 |  |  | (4,035 | ) |  | 22,466 |  |  | 2,298 |  |  | — |  |  | 24,764 |  |  | 5.47 | %
| 1,150,468 |  |  | 6,407 |  |  | 1,156,875 |  |  | 5,812 |  |  | (13,572 | ) |  | 1,149,115 |  |  |
CMBS IO (3): |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | — |  |  | 375,361 |  |  | 375,361 |  |  | 5,238 |  |  | (293 | ) |  | 380,306 |  |  | 0.62 | %
Non-Agency | — |  |  | 308,472 |  |  | 308,472 |  |  | 4,468 |  |  | (724 | ) |  | 312,216 |  |  | 0.61 | %
| — |  |  | 683,833 |  |  | 683,833 |  |  | 9,706 |  |  | (1,017 | ) |  | 692,522 |  |  |
U.S. Treasuries: | 148,400 |  |  | (133 | ) |  | 148,267 |  |  | — |  |  | (1,737 | ) |  | 146,530 |  |  | 2.13 | %
Total AFS securities: | $ | 2,446,491 |  |  | $ | 736,128 |  |  | $ | 3,182,619 |  |  | $ | 17,185 |  |  | $ | (26,285 | ) |  | $ | 3,173,519 |  |  |  |
(1) | The WAC is the gross interest rate of the security weighted by the outstanding principal balance (or by notional balance in the case of an IO security).
(2) | Includes purchased securities pending settlement.
(3) | The notional balance for the Agency CMBS IO and non-Agency CMBS IO was $14,196,122 and $11,006,463, respectively, as of December 31, 2017.

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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