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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Interest Income:    
Residential whole loans held at carrying value $ 3,591us-gaap_InterestAndFeeIncomeLoansCommercialAndResidentialRealEstate $ 0us-gaap_InterestAndFeeIncomeLoansCommercialAndResidentialRealEstate
Cash and cash equivalent investments 27us-gaap_InterestIncomeDepositsWithFinancialInstitutions 26us-gaap_InterestIncomeDepositsWithFinancialInstitutions
Interest Income 129,942us-gaap_InterestAndDividendIncomeOperating 121,174us-gaap_InterestAndDividendIncomeOperating
Interest Expense:    
Repurchase agreements 41,182us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 36,729us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
Securitized debt 750us-gaap_InterestExpenseDebt 2,185us-gaap_InterestExpenseDebt
Senior Notes 2,008us-gaap_InterestExpenseOtherLongTermDebt 2,007us-gaap_InterestExpenseOtherLongTermDebt
Interest Expense 43,940us-gaap_InterestExpense 40,921us-gaap_InterestExpense
Net Interest Income 86,002us-gaap_InterestIncomeExpenseNet 80,253us-gaap_InterestIncomeExpenseNet
Other-Than-Temporary Impairments:    
Total other-than-temporary impairment losses (395)us-gaap_MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount 0us-gaap_MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
Portion of loss reclassed from other comprehensive income (12)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
Net Impairment Losses Recognized in Earnings (407)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Other Income, net:    
Unrealized net gains and net interest income from Linked Transactions 0mfa_GainOnLinkedTransactions 3,251mfa_GainOnLinkedTransactions
Net income on residential whole loans held at fair value 2,576mfa_MortgageLoansonRealEstateGainLossonLoansatFairValue 0mfa_MortgageLoansonRealEstateGainLossonLoansatFairValue
Gain on sales of MBS 6,435us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments 3,571us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
Other, net 26us-gaap_OtherNonoperatingIncomeExpense (416)us-gaap_OtherNonoperatingIncomeExpense
Other Income, net 9,037us-gaap_NoninterestIncome 6,406us-gaap_NoninterestIncome
Operating and Other Expense:    
Compensation and benefits 6,746us-gaap_LaborAndRelatedExpense 6,507us-gaap_LaborAndRelatedExpense
Other general and administrative expense 3,457us-gaap_OtherGeneralAndAdministrativeExpense 3,964us-gaap_OtherGeneralAndAdministrativeExpense
Other investment related operating expenses 2,256us-gaap_OtherCostAndExpenseOperating 0us-gaap_OtherCostAndExpenseOperating
Operating and Other Expense 12,459us-gaap_CostsAndExpenses 10,471us-gaap_CostsAndExpenses
Net Income 82,173us-gaap_NetIncomeLoss 76,188us-gaap_NetIncomeLoss
Less Preferred Stock Dividends 3,750us-gaap_PreferredStockDividendsIncomeStatementImpact 3,750us-gaap_PreferredStockDividendsIncomeStatementImpact
Net Income Available to Common Stock and Participating Securities 78,423us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 72,438us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per Common Share - Basic and Diluted (in dollars per share) $ 0.21us-gaap_EarningsPerShareBasicAndDiluted $ 0.20us-gaap_EarningsPerShareBasicAndDiluted
Dividends Declared per Share of Common Stock (in dollars per share) $ 0.20us-gaap_CommonStockDividendsPerShareDeclared $ 0.20us-gaap_CommonStockDividendsPerShareDeclared
Agency Mortgage Backed Securities    
Interest Income:    
Securities 31,673us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
39,329us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
Non-Agency MBS    
Interest Income:    
Securities 73,761us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
81,778us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS    
Interest Income:    
Securities 81,248us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
43,155us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS Transferred to Consolidated VIEs    
Interest Income:    
Securities 12,043us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
38,664us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
CRT securities    
Interest Income:    
Securities $ 1,360us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember
$ 0us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember