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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows provided by operating activities:    
Net income $ 60,698 $ 36,621
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization and (discount accretion), net (3,018) (4,181)
Amortization of deferred financing costs 1,252 639
Equity-based compensation 220 2,095
Unrealized (gain) loss on securities (4,787) 3,973
Income from unconsolidated joint venture 88 0
Foreign currency (gain) loss 2,623 0
Unrealized gain on derivative instruments (1,933) (155)
Changes in operating assets and liabilities:    
Accrued interest receivable, less purchased interest (16,521) (6,441)
Other assets 200 203
Accounts payable and accrued expenses 1,077 509
Payable to related party 565 588
Net cash provided by operating activities 40,464 33,851
Cash flows used in investing activities:    
Fees received from commercial mortgage loans 0 280
Funding of securities at estimated fair value (325,961) (70,490)
Funding of commercial mortgage loans (211,738) (32,643)
Funding of subordinate loans (353,386) (213,515)
Funding of unconsolidated joint venture (39,477) 0
Funding of other assets (1,258) 0
Principal payments received on securities available-for-sale 15,289 28,485
Principal payments received on securities at estimated fair value 15,306 49,164
Principal payments received on commercial mortgage loans 666 17,898
Principal payments received on subordinate loans 117,003 71,173
Principal payments received on other assets 86 0
Principal payments received on repurchase agreements 0 6,598
Proceeds from sale of commercial mortgage loan 4,950 0
Net cash used in investing activities (778,520) (143,050)
Cash flows from financing activities:    
Proceeds from issuance of common stock 158,693 148,804
Payment of offering costs (308) (814)
Proceeds from repurchase agreement borrowings 441,391 70,195
Repayments of repurchase agreement borrowings (105,658) (68,187)
Proceeds from issuance of convertible senior notes 256,970 0
Participations sold 89,012 0
Increase in restricted cash related to financing activities 0 (15,794)
Payment of deferred financing costs (8,846) (504)
Dividends on common stock (49,065) (40,717)
Dividends on preferred stock (5,580) (5,579)
Net cash provided by financing activities 776,609 87,404
Net increase in cash and cash equivalents 38,553 (21,795)
Cash and cash equivalents, beginning of period 20,096 108,619
Cash and cash equivalents, end of period 58,649 86,824
Supplemental disclosure of cash flow information:    
Interest paid 14,565 2,335
Supplemental disclosure of non-cash financing activities:    
Dividend declared, not yet paid 20,753 17,023
Deferred financing costs, not yet paid 213 250
Offering costs payable $ 71 $ 0