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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows provided by operating activities:    
Net income $ 17,580 $ 11,932
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion), net (256) (938)
Amortization of deferred financing costs 190 193
Equity-based compensation (421) 883
Unrealized (gain) loss on securities (2,184) 1,080
Unrealized gain on derivative instruments 0 (72)
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (3,125) (1,401)
Other assets 50 203
Accounts payable and accrued expenses (363) (85)
Payable to related party (63) 123
Net cash provided by operating activities 11,408 11,918
Cash flows used in investing activities:    
Fees received from commercial mortgage loans 0 280
Funding of commercial mortgage loans (24,178) 0
Funding of subordinate loans 0 (91,297)
Principal payments received on securities available-for-sale 7,785 2,544
Principal payments received on securities at estimated fair value 9,080 12,429
Principal payments received on commercial mortgage loans 243 623
Principal payments received on subordinate loans 15,407 52,305
Principal payments received on repurchase agreements 0 6,598
Net cash provided by (used in) investing activities 8,337 (16,518)
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 148,804
Payment of offering costs (117) (308)
Proceeds from repurchase agreement borrowings 12,000 0
Repayments of repurchase agreement borrowings (47,039) (13,214)
Proceeds from issuance of convertible senior notes 143,750 0
Payment of deferred financing costs (4,627) (500)
Dividends on common stock (15,475) (11,218)
Dividends on preferred stock (1,860) (1,860)
Net cash provided by (used in) financing activities 86,632 121,704
Net increase (decrease) in cash and cash equivalents 106,377 117,104
Cash and cash equivalents, beginning of period 20,096 108,619
Cash and cash equivalents, end of period 126,473 225,723
Supplemental disclosure of cash flow information:    
Interest paid 1,958 916
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 16,688 16,616
Deferred financing costs, not yet paid 412 254
Offering costs payable $ 0 $ 395