Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 2,677,000	$ 14,230,000
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Stock based compensation and equity plan amortization	298,000	55,000
Realized and unrealized (gains) losses on mortgage-backed securities	8,926,000	(14,015,000)
Realized and unrealized loss on interest rate swaption	(1,152,000)	(1,285,000)
Gains On TBA Securities	(31,000)	0
Changes in operating assets and liabilities
Accrued interest receivable	(2,414,000)	(2,239,000)
Prepaid expenses and other assets	(234,000)	(337,000)
Accrued interest payable	(29,000)	217,000
Accounts payable, accrued expenses and other	(209,000)	361,000
Due to affiliates	126,000	70,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	10,324,000	(373,000)
From mortgage-backed securities investments
Purchases	(1,139,704,000)	(951,473,000)
Sales	402,575,000	420,787,000
Principal repayments	110,081,000	26,749,000
Increase in restricted cash	(15,270,000)	(1,138,000)
Proceeds From Net TBA Settlements	(31,000)	0
Purchase of interest rate swaptions, net of margin cash received	1,157,000	1,219,000
NET CASH USED IN INVESTING ACTIVITIES	(643,506,000)	(506,294,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	7,458,153,000	3,179,550,000
Principal payments on repurchase agreements	(6,880,733,000)	(2,714,406,000)
Cash dividends	(20,179,000)	(8,439,000)
Stock Issued During Period, Value, New Issues	(83,275,000)	(75,077,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES	640,516,000	531,782,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	7,334,000	25,115,000
CASH AND CASH EQUIVALENTS, beginning of the period	93,137,000	8,169,000
CASH AND CASH EQUIVALENTS, end of the period	100,471,000	33,284,000
Cash paid during the period for:
Interest	2,892,000	870,000
SUPPLEMENTAL DISCLOSURES OF NONCASH FINANCING ACTIVITIES:
Securities acquired settled in later period	$ 7,623,000	$ 6,829,000