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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows provided by operating activities:    
Net income $ 23,721 $ 19,003
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion), net (1,995) 1,597
Amortization of deferred financing costs 415 1,132
Equity-based compensation 1,311 1,969
Unrealized (gain) loss on securities 2,500 (3,463)
Unrealized gain on derivative instruments (130) (188)
Realized gain on sale of security    (262)
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (3,474) (4,220)
Other assets 203 7
Accounts payable and accrued expenses 110 (148)
Payable to related party 563 (4)
Net cash provided by operating activities 23,224 15,423
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 securities at estimated fair value    (70,676)
Funding of commercial mortgage loans    (17,883)
Funding of subordinate loans 174,190 29,833
Principal payments received on securities available-for-sale 13,267 55,905
Principal payments received on securities at estimated fair value 25,415 78,203
Principal payments received on commercial mortgage loans 813 24,363
Principal payments received on subordinate loans 68,779 18
Principal payments received on repurchase agreements 6,598 5,744
Net cash provided by (used in) investing activities (59,038) 184,097
Cash flows from financing activities:    
Proceeds from issuance of common stock 148,804   
Payment of offering costs (776) (281)
Repayments of TALF borrowings    (251,327)
Proceeds from repurchase agreement borrowings    313,860
Repayments of repurchase agreement borrowings 33,846 253,864
Deferred financing costs (505) (751)
Dividends on common stock (25,965) (16,766)
Dividends on preferred stock (3,720)   
Net cash provided by (used in) financing activities 83,992 (209,129)
Net increase (decrease) in cash and cash equivalents 48,178 (9,609)
Cash and cash equivalents, beginning of period 108,619 21,568
Cash and cash equivalents, end of period 156,797 11,959
Supplemental disclosure of cash flow information:    
Interest paid 916 4,409
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 16,821 8,726
Deferred financing costs, not yet paid 250   
Offering costs payable $ 47