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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows provided by operating activities:    
Net income $ 41,539 $ 23,721
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion), net (1,285) (1,995)
Amortization of deferred financing costs 662 415
Equity-based compensation (88) 1,311
Unrealized (gain) loss on securities (6,934) 2,500
Foreign currency gain (959) 0
Unrealized gain on derivative instruments 1,093 (130)
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (10,459) (3,474)
Other assets 416 203
Accounts payable and accrued expenses 2,809 110
Payable to related party 338 563
Net cash provided by operating activities 27,132 23,224
Cash flows used in investing activities:    
Fees received from commercial mortgage loans 0 280
Funding of securities at estimated fair value (173,969) 0
Funding of commercial mortgage loans (181,590) 0
Funding of subordinate loans (318,922) (174,190)
Funding of other assets (1,256) 0
Principal payments received on securities available-for-sale 9,969 13,267
Principal payments received on securities at estimated fair value 14,009 25,415
Principal payments received on commercial mortgage loans 452 813
Principal payments received on subordinate loans 71,434 68,779
Principal payments received on other assets 21 0
Principal payments received on repurchase agreements 0 6,598
Net cash used in investing activities (579,852) (59,038)
Cash flows from financing activities:    
Proceeds from issuance of common stock 158,693 148,804
Payment of offering costs (208) (776)
Proceeds from repurchase agreement borrowings 297,665 0
Repayments of repurchase agreement borrowings (53,475) (33,846)
Proceeds from issuance of convertible senior notes 143,750 0
Participations sold 89,012 0
Payment of deferred financing costs (5,433) (505)
Dividends on common stock (30,325) (25,965)
Dividends on preferred stock (3,720) (3,720)
Net cash provided by financing activities 595,959 83,992
Net increase in cash and cash equivalents 43,239 48,178
Cash and cash equivalents, beginning of period 20,096 108,619
Cash and cash equivalents, end of period 63,335 156,797
Supplemental disclosure of cash flow information:    
Interest paid 2,998 916
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 20,665 16,821
Deferred financing costs, not yet paid 0 250
Offering costs payable $ 212 $ 47