| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities: | |||||||||||
Net income | |||||||||||
413 | 411 | 524 | 551 | 250 | 589 | 362 | 327 | 137 | 248 | 230 | -119 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
(Accretion) amortization of investment discounts/premiums, net | |||||||||||
-58 | -28 | 25 | 3 | -3 | 72 | 80 | 67 | 60 | 66 | 42 | -0 |
Accretion (amortization) of deferred financing costs and securitized debt discounts/premiums, net | |||||||||||
-29 | -13 | 7 | 1 | 17 | 11 | 17 | 6 | 12 | 16 | 4 | - |
Amortization of swaption premium | |||||||||||
0 | 1 | 6 | 6 | 0 | 0 | - | - | - | - | - | - |
Amortization of deferred financing costs | |||||||||||
- | - | - | - | - | - | - | 8 | - | - | - | - |
Net unrealized losses (gains) on derivatives | |||||||||||
-106 | -141 | 47 | 50 | 67 | -103 | 34 | -9 | -34 | - | - | 4 |
Net realized losses (gains) on option contracts settled | |||||||||||
- | - | - | - | - | -1 | - | - | - | - | - | - |
Proceeds (payments) for derivative sales and settlements | |||||||||||
- | - | - | - | -13 | -6 | - | - | - | - | - | - |
Margin (paid) received on derivatives | |||||||||||
-7 | 320 | -31 | -56 | -82 | 186 | - | - | - | - | - | - |
Net unrealized losses (gains) on interest rate swaps | |||||||||||
- | - | - | - | - | - | - | - | - | -9 | - | - |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | |||||||||||
409 | 46 | 111 | 59 | -158 | 193 | -44 | 0 | -14 | 3 | 2 | - |
Realized losses on principal write-downs of Non-Agency RMBS | |||||||||||
- | - | - | - | - | - | 18 | - | - | - | - | - |
Realized loss (gain) on termination of interest rate swaps | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -10 |
Provision for loan losses, net | |||||||||||
- | - | - | - | - | -0 | -1 | 0 | 5 | 7 | 3 | 1 |
Gain (Loss) on Sales of Mortgage Backed Securities (MBS) | |||||||||||
20 | -2 | 9 | 18 | 77 | 91 | 68 | 85 | 54 | 17 | 118 | -144 |
Net other-than-temporary credit impairment losses | |||||||||||
4 | 21 | 61 | 57 | 67 | 63 | 45 | 132 | 357 | 131 | 110 | - |
(Gains) loss on deconsolidation | |||||||||||
- | - | - | - | -0 | 47 | - | - | - | - | - | - |
(Gain) loss on extinguishment of debt | |||||||||||
9 | 26 | -35 | -0 | -5 | -2 | - | - | - | - | - | - |
Equity-based compensation expense | |||||||||||
10 | 8 | 3 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | - |
Changes in operating assets: | |||||||||||
Restricted stock grants | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1 |
Decrease (increase) in accrued interest receivable, net | |||||||||||
-6 | 22 | 21 | 13 | -4 | 37 | -6 | -9 | 0 | 17 | 23 | 5 |
Decrease (increase) in other assets | |||||||||||
20 | -63 | -18 | -3 | 42 | -16 | 0 | 0 | 0 | -0 | 0 | 0 |
Changes in operating liabilities: | |||||||||||
Increase (decrease) in accounts payable and other liabilities | |||||||||||
-10 | -0 | 0 | 5 | 8 | 0 | 0 | -0 | 1 | -0 | 0 | -0 |
Increase (decrease) in investment management fees and expenses payable to affiliate | |||||||||||
- | - | - | - | -10 | 4 | -2 | -5 | 0 | 3 | 6 | 1 |
Increase (decrease) in accrued interest payable, net | |||||||||||
-44 | 48 | 13 | 11 | 5 | 25 | -4 | -0 | -0 | 8 | 0 | 2 |
Net cash provided by (used in) operating activities | |||||||||||
65 | 297 | 487 | 552 | 396 | 182 | 304 | 334 | 447 | 321 | 168 | 30 |
Cash Flows From Investing Activities: | |||||||||||
Acquisition of investments in consolidated VIEs | |||||||||||
0 | 0 | 398 | 0 | 109 | 774 | - | - | - | - | - | - |
Disposition of investments in consolidated VIEs | |||||||||||
- | - | - | - | 2 | 0 | - | - | - | - | - | - |
Mortgage-Backed Securities portfolio, principal payments | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 174 |
Reverse repurchase agreements | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 265 |
Restricted cash | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -1 |
Net cash provided by (used in) investing activities | |||||||||||
1,236 | -6,026 | -4,331 | -1,270 | 2,037 | -5,778 | 305 | 988 | -114 | -1,584 | -2,810 | -1,055 |
Cash Flows From Financing Activities: | |||||||||||
Proceeds from repurchase agreements | |||||||||||
133,892 | 71,279 | 44,120 | 34,202 | 41,644 | 27,128 | 7,879 | 6,826 | 15,247 | 15,370 | 59,370 | 85,585 |
Payments on repurchase agreements | |||||||||||
134,495 | 64,499 | 42,471 | 36,041 | 42,660 | 20,331 | 7,748 | 7,971 | 14,383 | 15,536 | 57,957 | 85,293 |
Net proceeds from common stock offerings | |||||||||||
- | - | - | - | - | 0 | - | - | 0 | 1,313 | 1,372 | 273 |
Net proceeds from preferred stock offerings | |||||||||||
193 | 251 | 314 | 140 | 0 | 0 | - | - | - | - | - | - |
Payments for Repurchase of Common Stock | |||||||||||
0 | 15 | 0 | 0 | 250 | 0 | - | - | - | - | - | - |
Payment of deferred financing costs | |||||||||||
- | - | - | - | - | - | 0 | 9 | - | - | - | - |
Proceeds from securitized debt borrowings, collateralized by loans held for investment | |||||||||||
1,487 | 1,769 | 5,152 | 4,797 | 1,483 | 43 | - | 1,426 | - | - | - | - |
Net proceeds from common stock offerings to affiliates | |||||||||||
- | - | - | - | - | - | - | - | - | - | 90 | 26 |
Proceeds from securitized debt borrowings, collateralized by loans held for investment | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 526 |
Payments on securitized debt borrowings, collateralized by loans held for investment | |||||||||||
1,845 | 2,613 | 2,844 | 1,668 | 2,138 | 341 | 499 | 470 | 80 | 106 | 102 | 37 |
Payments on securitized debt borrowings, collateralized by Non-Agency RMBS | |||||||||||
24 | 43 | 131 | 194 | 182 | 185 | 414 | 481 | 645 | 574 | - | - |
Net proceeds from direct purchase and dividend reinvestment | |||||||||||
- | - | - | - | - | - | - | 0 | 1 | 0 | 0 | 0 |
Repurchase of securitized debt borrowings, collateralized by Non-Agency RMBS | |||||||||||
- | - | - | - | - | 56 | - | 181 | 310 | 1,295 | - | - |
Net payments on termination of interest rate swaps | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 10 |
Common dividends paid | |||||||||||
374 | 374 | 375 | 454 | 381 | 575 | 369 | 410 | 584 | 516 | 135 | 22 |
Preferred dividends paid | |||||||||||
72 | 43 | 35 | 0 | 0 | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||||
-1,239 | 5,712 | 3,729 | 781 | -2,484 | 5,682 | -1,153 | -908 | -134 | 1,245 | 2,638 | 1,046 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
62 | -16 | -114 | 63 | -50 | 86 | -543 | 414 | 199 | -17 | -3 | 21 |
Supplemental disclosure of cash flow information: | |||||||||||
Interest received | |||||||||||
1,427 | 1,279 | 1,092 | 917 | 881 | 577 | 437 | 530 | 640 | 521 | 221 | - |
Interest paid | |||||||||||
835 | 643 | 512 | 335 | 236 | 111 | 88 | 120 | 120 | 129 | 29 | 58 |
Management fees and expenses paid | |||||||||||
- | - | - | - | 34 | 27 | 27 | 54 | 51 | 37 | 19 | - |
Taxes paid | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | 0 | 0 |
Non-cash investing activities: | |||||||||||
Payable for investments purchased | |||||||||||
1,256 | 1,136 | 567 | 520 | 560 | -1,845 | - | - | - | 127 | - | - |
Receivable for investments sold | |||||||||||
446 | 0 | 0 | - | - | 1,572 | 253 | - | - | - | - | - |
Net change in unrealized gain (loss) on available-for sale securities | |||||||||||
81 | -170 | 78 | -55 | -272 | 55 | 0 | 556 | -246 | 670 | 260 | -276 |
Retained beneficial interests | |||||||||||
141 | 39 | 0 | 0 | - | - | - | - | - | - | - | - |
Securitized loans held for investment, at fair value | |||||||||||
0 | 0 | 419 | 0 | 295 | 4,722 | - | - | - | - | - | - |
Other assets | |||||||||||
- | - | - | - | - | 84 | - | - | - | - | - | - |
Securitized debt at fair value | |||||||||||
0 | 0 | 20 | 0 | 185 | 4,033 | - | - | - | - | - | - |
Non-cash financing activities: | |||||||||||
Dividends declared, not yet paid | |||||||||||
98 | 95 | 95 | 94 | 90 | 92 | 297 | 92 | 112 | 174 | 113 | - |
Agency MBS portfolio | |||||||||||
Purchases | |||||||||||
2,929 | 7,917 | 1,326 | 1,040 | - | - | - | - | - | - | - | 1,483 |
Sales | |||||||||||
2,815 | 16 | 743 | 2,570 | - | - | - | - | - | - | - | 567 |
Principal payments | |||||||||||
2,237 | 524 | 423 | 649 | - | - | - | - | - | - | - | - |
Non Agency Residential Mortgage Backed Securities [Member] | |||||||||||
Purchases | |||||||||||
373 | 133 | 15 | 203 | - | - | - | - | - | - | - | 0 |
Sales | |||||||||||
38 | 19 | 5 | 95 | - | - | - | - | - | - | - | - |
Principal payments | |||||||||||
415 | 521 | 568 | 532 | - | - | - | - | - | - | - | 40 |
Loans held for investment | |||||||||||
Sales | |||||||||||
1,681 | 754 | 0 | 0 | - | - | - | - | - | - | - | 90 |
Principal payments | |||||||||||
1,717 | 1,859 | 1,788 | 1,022 | - | - | - | - | - | - | - | 23 |
Purchases | |||||||||||
4,366 | 1,671 | 6,120 | 4,897 | - | - | - | - | - | - | - | 735 |