Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (3,100,772)	$ 647,768
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Stock based compensation and equity plan amortization	40,744	105,830
Depreciation	60,545	59,021
Losses on mortgage-backed securities	11,759,038	1,549,646
Gains on retained interests in securitizations	(1,755,179)	(3,467,427)
Gains on release of loan loss reserves	3,037,260	0
Changes in operating assets and liabilities
Accrued interest receivable	(867,636)	149,784
Prepaid expenses and other assets, net	308,535	596,169
Accrued interest payable	(22,028)	(4,128)
Accounts payable, accrued expenses and other	(124,413)	(779,930)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	3,261,574	(1,143,267)
From mortgage-backed securities investments
Purchases	(460,089,739)	(156,122,526)
Sales	214,734,292	124,428,539
Principal repayments	20,974,437	9,400,956
Payments received on retained interests in securitizations	1,628,594	2,187,752
(Increase) decrease in restricted cash	(8,470,313)	112,312
Purchases of property and equipment	(10,940)	(8,988)
NET CASH USED IN INVESTING ACTIVITIES	(231,233,669)	(20,001,955)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	1,972,626,965	442,916,486
Principal payments on repurchase agreements	(1,776,723,801)	(420,619,497)
Issuance of common shares of Orchid Island Capital, Inc.	35,400,000	0
Cash dividends paid to noncontrolling interests	1,274,399	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	230,028,765	22,296,989
NET INCREASE IN CASH AND CASH EQUIVALENTS	2,056,670	1,151,767
CASH AND CASH EQUIVALENTS, beginning of the period	6,592,561	4,300,785
CASH AND CASH EQUIVALENTS, end of the period	8,649,231	5,452,552
Cash paid during the period for:
Interest	1,125,152	711,951
Income Taxes	$ 39,386	$ 40,000