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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows provided by operating activities:    
Net income $ 11,932 $ 9,093
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion), net (938) 1,560
Amortization of deferred financing costs 193 735
Equity-based compensation 883 1,083
Unrealized gain on securities 1,080 (1,385)
Unrealized gain on derivative instruments (72) 5
Realized gain on sale of security   (262)
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (1,401) 1,267
Other assets 203 3
Accounts payable and accrued expenses (85) (324)
Payable to related party 123 (9)
Net cash provided by operating activities 11,918 11,766
Cash flows used in investing activities:    
Proceeds from sale of securities available-for-sale   121,338
Proceeds from sale of securities at estimated fair value   16,918
Fees received from commercial mortgage loans 280  
Funding of subordinate loans (91,297) (29,833)
Funding of repurchase agreements      
Principal payments received on securities available-for-sale 2,544 29,271
Principal payments received on securities at estimated fair value 12,429 56,037
Principal payments received on commercial mortgage loans 623 189
Principal payments received on subordinate loans 52,305 10
Principal payments received on repurchase agreements 6,598  
Net cash provided by (used in) investing activities (16,518) 193,930
Cash flows from financing activities:    
Proceeds from issuance of common stock 148,804  
Payment of offering costs (308)  
Repayments of TALF borrowings   (251,327)
Proceeds from repurchase agreement borrowings   264,401
Repayments of repurchase agreement borrowings (13,214) (199,844)
Deferred financing costs (500) (500)
Dividends on common stock (11,218) (8,542)
Dividends on preferred stock (1,860)  
Net cash provided by (used in) financing activities 121,704 (195,812)
Net increase in cash and cash equivalents 117,104 9,884
Cash and cash equivalents, beginning of period 108,619 21,568
Cash and cash equivalents, end of period 225,723 31,452
Supplemental disclosure of cash flow information:    
Interest paid 916 2,809
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 16,616 8,553
Deferred financing costs, not yet paid 254  
Offering costs payable $ 395 $ 204