INCOME TAXES	12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. INCOME TAXES The Company will generally not be subject to federal income tax on its REIT taxable income to the extent that it distributes its REIT taxable income to its stockholders and satisfies the ongoing REIT requirements, including meeting certain asset, income and stock ownership tests. A REIT must generally distribute at least 90% of its REIT taxable income to its stockholders, of which 85% generally must be distributed within the taxable year, in order to avoid the imposition of an excise tax. The remaining balance may be distributed up to the end of the following taxable year, provided the REIT elects to treat such amount as a prior year distribution and meets certain other requirements. REIT taxable income (loss) is computed in accordance with the Code, which is different than the Company’s financial statement net income (loss) computed in accordance with GAAP. Book to tax differences primarily relate to the recognition of interest income on RMBS, unrealized gains and losses on RMBS, and the amortization of losses on derivative instruments that are treated as hedges for tax purposes. Generally, the Company’s dividend distributions are characterized as ordinary income or nontaxable return of capital based on the relative amounts of its earnings and profits (taxable income, with certain prescribed adjustments) to total distributions applicable for a given tax year. In determining total distributions, consideration is given to the spillover distribution provisions of section 857(b)(9) of the Code. Under section 857(b)(9), of the Code, REIT common dividends declared in the fourth quarter of a calendar year with a record date prior to year-end and a payable date in January of the following year will be included in total distributions in the year declared only to the extent of available earnings and profits. As a result, such fourth quarter common dividends may be pro-rated between tax years or may not be taxable until the following year. In accordance with section 857(b)(9) of the Code, the Company’s December 2018 dividend of $0.08 paid in January 2019 is subject to tax in 2019. The remaining dividend distributions declared in 2018 of $0.99, plus the dividend declared in December 2017 and paid in January 2018 of $0.14, are taxable in 2018. The 2018 dividend distribution described above exceeded 2018 earnings and profits by $0.40, representing 35% of the total 2018 distributions of $1.13. This nondividend distribution is characterized as return of capital and has been allocated on a pro rata basis to each 2018 dividend distribution. Nondividend distributions characterized as return of capital reduce the tax basis of related shares and are nontaxable to the recipient unless return of capital distributions in aggregate exceed tax basis, in which case the excess is reportable as capital gain. The remaining 2018 common dividend distributions have been characterized as ordinary income of $0.73, or 65% of the total distributions. As of December 31, 2018, we had distributed all of our estimated REIT taxable income through fiscal year 2018. Accordingly, no income tax provision was recorded for 2018, 2017 and 2016.

NOTE 10. INCOME TAXES

The Company will generally not be subject to federal income tax on its REIT taxable income to the extent that it distributes its REIT taxable income to its stockholders and satisfies the ongoing REIT requirements, including meeting certain asset, income and stock ownership tests. A REIT must generally distribute at least 90% of its REIT taxable income to its stockholders, of which 85% generally must be distributed within the taxable year, in order to avoid the imposition of an excise tax. The remaining balance may be distributed up to the end of the following taxable year, provided the REIT elects to treat such amount as a prior year distribution and meets certain other requirements.

REIT taxable income (loss) is computed in accordance with the Code, which is different than the Company’s financial statement net income (loss) computed in accordance with GAAP. Book to tax differences primarily relate to the recognition of interest income on RMBS, unrealized gains and losses on RMBS, and the amortization of losses on derivative instruments that are treated as hedges for tax purposes.

Generally, the Company’s dividend distributions are characterized as ordinary income or nontaxable return of capital based on the relative amounts of its earnings and profits (taxable income, with certain prescribed adjustments) to total distributions applicable for a given tax year.

In determining total distributions, consideration is given to the spillover distribution provisions of section 857(b)(9) of the Code. Under section 857(b)(9), of the Code, REIT common dividends declared in the fourth quarter of a calendar year with a record date prior to year-end and a payable date in January of the following year will be included in total distributions in the year declared only to the extent of available earnings and profits. As a result, such fourth quarter common dividends may be pro-rated between tax years or may not be taxable until the following year. In accordance with section 857(b)(9) of the Code, the Company’s December 2018 dividend of $0.08 paid in January 2019 is subject to tax in 2019. The remaining dividend distributions declared in 2018 of $0.99, plus the dividend declared in December 2017 and paid in January 2018 of $0.14, are taxable in 2018.

The 2018 dividend distribution described above exceeded 2018 earnings and profits by $0.40, representing 35% of the total 2018 distributions of $1.13. This nondividend distribution is characterized as return of capital and has been allocated on a pro rata basis to each 2018 dividend distribution. Nondividend distributions characterized as return of capital reduce the tax basis of related shares and are nontaxable to the recipient unless return of capital distributions in aggregate exceed tax basis, in which case the excess is reportable as capital gain. The remaining 2018 common dividend distributions have been characterized as ordinary income of $0.73, or 65% of the total distributions.

As of December 31, 2018, we had distributed all of our estimated REIT taxable income through fiscal year 2018. Accordingly, no income tax provision was recorded for 2018, 2017 and 2016.