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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 0 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2013
Cash flows provided by (used in) operating activities:    
Net loss $ (8) $ (1,789)
Reconciliation of net loss to net cash provided by (used in) operating activities:    
Net realized losses on real estate securities 0 26,290
Change in net unrealized (gains) losses on real estate securities 0 15,391
Net realized gains on financial derivatives 0 (12,650)
Change in net unrealized (gains) losses on financial derivatives 0 (16,114)
Amortization of premiums and accretion of discounts (net) 0 2,498
Share-based Compensation 0 3
(Increase) decrease in assets:    
Due from brokers 0 (13,724)
Interest receivable (1) (4,331)
Other assets 0 (261)
Increase (decrease) in liabilities:    
Due to brokers 0 22,160
Accrued expenses 0 14
Interest payable 0 597
Management fees payable 8 528
Net cash provided by (used in) operating activities (1) 18,612
Cash flows provided by (used in) investing activities:    
Purchases of real estate securities (2,034) (2,365,561)
Proceeds from sale of real estate securities 0 891,017
Principal repayments of real estate securities 0 29,276
Proceeds from investments sold short 0 2,043
Repurchase of investments sold short 0 (2,036)
Proceeds from disposition of financial derivatives 0 24,849
Purchase of financial derivatives 0 (12,199)
Payments made on reverse repurchase agreements 0 (4,098)
Proceeds from reverse repurchase agreements 0 4,098
Net cash used in investing activities (2,034) (1,432,611)
Cash flows provided by (used in) financing activities:    
Offering costs paid 0 (1,498)
Proceeds from issuance of shares 31,500 150,000
Dividends 0 (1,279)
Borrowings under repurchase agreements 0 4,424,530
Repayments of repurchase agreements 0 (3,131,584)
Cash provided by financing activities 31,500 1,440,169
NET INCREASE IN CASH AND CASH EQUIVALENTS 29,465 26,170
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 0 18,161
CASH AND CASH EQUIVALENTS, END OF PERIOD 29,465 44,331
Supplemental disclosure of non-cash activity:    
Interest paid $ 0 $ 1,176