Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 5,509,000	$ 3,595,000
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Stock based compensation and equity plan amortization	223,000	0
Realized and unrealized (gains) losses on mortgage-backed securities	(6,288,000)	(2,451,000)
Realized and unrealized loss on interest rate swaption	(1,091,000)	(156,000)
Gains On TBA Securities	57,000	0
Changes in operating assets and liabilities
Accrued interest receivable	(565,000)	(1,316,000)
Prepaid expenses and other assets	(444,000)	(115,000)
Accrued interest payable	(260,000)	25,000
Accounts payable, accrued expenses and other	(1,690,000)	145,000
Due to affiliates	56,000	50,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(2,425,000)	89,000
From mortgage-backed securities investments
Purchases	(125,348,000)	(506,249,000)
Sales	40,255,000	141,297,000
Principal repayments	43,011,000	10,373,000
Increase in restricted cash	(473,000)	(1,650,000)
Proceeds From Net TBA Settlements	(35,000)	0
Purchase of interest rate swaptions, net of margin cash received	(207,000)	200,000
NET CASH USED IN INVESTING ACTIVITIES	(42,383,000)	(356,429,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	3,251,722,000	1,669,242,000
Principal payments on repurchase agreements	(3,228,882,000)	(1,336,553,000)
Cash dividends	(9,239,000)	(3,450,000)
Stock Issued During Period, Value, New Issues	(16,175,000)	(62,499,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES	29,776,000	391,738,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	(15,032,000)	35,398,000
CASH AND CASH EQUIVALENTS, beginning of the period	93,137,000	8,169,000
CASH AND CASH EQUIVALENTS, end of the period	78,105,000	43,567,000
Cash paid during the period for:
Interest	1,556,000	386,000
SUPPLEMENTAL DISCLOSURES OF NONCASH FINANCING ACTIVITIES:
Securities acquired settled in later period	$ 79,186,000	$ 39,503,000