Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
INTEREST INCOME:
Investment securities and other	$ 12,868	$ 11,019	$ 42,025	$ 32,638
Total interest income	94,937	76,739	285,723	204,684
INTEREST EXPENSE:
Interest expense	1,230	1,598	4,102	5,045
Subordinated debentures	465	473	1,390	1,408
Total interest expense	75,617	61,532	226,695	162,594
NET INTEREST INCOME	19,320	15,207	59,028	42,090
OTHER INCOME (EXPENSE):
Provision for loan losses	(82)	(238)	(1,234)	(905)
Impairment loss on investment securities		(225)		(225)
Realized gain (loss) on investment securities and related hedges, net	17,055	3,319	20,419	(8,334)
Realized gain on distressed residential mortgage loans	834	486	9,477	1,057
Unrealized (loss) gain on investment securities and related hedges, net	(1,020)	(1,498)	(4,047)	3,014
Unrealized gain on multi-family loans and debt held in securitization trusts, net	18,115	6,338	43,060	22,370
Loss on extinguishment of debt	(3,397)		(3,397)
Other income (including $1,139, $96, $1,402 and $156 from related parties, respectively)	1,613	290	2,326	792
Total other income	33,118	8,472	66,604	17,769
Base management and incentive fees (including $5,747, $747, $7,966 and $2,068 to related parties, respectively)	7,752	2,213	15,396	5,455
Expenses related to distressed residential mortgage loans	1,491	1,051	3,920	2,533
Other general and administrative expenses (including $0, $135, $80 and $504 to related parties, respectively)	2,370	1,818	7,433	5,672
Total general, administrative and other expenses	11,613	5,082	26,749	13,660
INCOME FROM OPERATIONS BEFORE INCOME TAXES	40,825	18,597	98,883	46,199
Income tax expense	1,100	211	4,668	531
NET INCOME	39,725	18,386	94,215	45,668
Preferred stock dividends	1,453	1,453	4,359	2,115
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	38,272	16,933	89,856	43,553
Basic income per common share (in Dollars per share)	$ 0.42	$ 0.27	$ 1.06	$ 0.76
Diluted income per common share (in Dollars per share)	$ 0.42	$ 0.27	$ 1.06	$ 0.76
Dividends declared per common share (in Dollars per share)	$ 0.27	$ 0.27	$ 0.81	$ 0.81
Weighted average shares outstanding-basic (in Shares)	90,685	63,755	85,018	57,493
Weighted average shares outstanding-diluted (in Shares)	90,685	63,755	85,018	57,493
Multi-Family Loans Held in Securitization Trusts [Member]
INTEREST INCOME:
Interest income	75,891	61,179	226,336	160,981
Residential Distressed Mortgage Loans Held in Securitization Trust [Member]
INTEREST INCOME:
Interest income	5,199	3,421	14,400	7,410
Residential Mortgage Loans Held in Securitization Trusts, Net [Member]
INTEREST INCOME:
Interest income	979	1,120	2,962	3,655
Multi-Family Collateralized Debt Obligations [Member]
INTEREST EXPENSE:
Interest expense	69,310	56,199	207,167	148,107
Residential Collateralized Debt Obligations [Member]
INTEREST EXPENSE:
Interest expense	223	281	686	857
Securitized Debt [Member]
INTEREST EXPENSE:
Interest expense	$ 4,389	$ 2,981	$ 13,350	$ 7,177