XML 37 R35.htm IDEA: XBRL DOCUMENT v2.4.0.6
Real Estate Securities (Schedule of Information Regarding Real Estate Securities) (Details) (USD $)
3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
30-Year Adjustable Rate Mortgage [Member]
Dec. 31, 2012
30-Year Adjustable Rate Mortgage [Member]
Mar. 31, 2013
30-Year Fixed Rate Mortgage [Member]
Dec. 31, 2012
30-Year Fixed Rate Mortgage [Member]
Mar. 31, 2013
Alternative - A [Member]
Dec. 31, 2012
Alternative - A [Member]
Mar. 31, 2013
Pay Option Adjustable Rate [Member]
Dec. 31, 2012
Pay Option Adjustable Rate [Member]
Mar. 31, 2013
Prime [Member]
Dec. 31, 2012
Prime [Member]
Mar. 31, 2013
Subprime [Member]
Dec. 31, 2012
Subprime [Member]
Mar. 31, 2013
Total RMBS [Member]
Dec. 31, 2012
Total RMBS [Member]
Investment Holdings [Line Items]                                
Principal Balance     $ 2,939,138 $ 3,083,892 $ 170,322,090 $ 61,034,333 $ 114,455,922 $ 38,549,827 $ 40,163,597 $ 1,249,426 $ 117,188,899 $ 64,978,647 $ 47,558,339 $ 4,419,732 $ 492,627,985 $ 173,315,857
Premium (Discount)     443,080 351,047 7,593,622 3,056,889 (21,415,546) (8,606,689) (8,849,272) (378,803) (13,506,628) (8,074,525) (13,700,810) (825,131) (49,435,554) (14,477,212)
Amortized Cost     3,382,218 3,434,939 177,915,712 64,091,222 93,040,376 29,943,138 31,314,325 870,623 103,682,271 56,904,122 33,857,529 3,594,601 443,192,431 158,838,645
Gross Unrealized                                
Gains        [1]    [2] 1,865,453 [1] 2,442,401 [2] 4,359,861 [1] 3,436,729 [2] 328,480 [1] 95,221 [2] 6,582,403 [1] 5,668,301 [2] 721,412 [1] 401,214 [2] 13,857,609 [1] 12,043,866 [2]
Losses     (303,810) [1] (194,609) [2] (570,884) [1] (13,921) [2] (36,009) [1]    [2] (33,897) [1]    [2] (27,319) [1] (2,298) [2] (149,648) [1]    [2] (1,121,567) [1] (210,828) [2]
Fair Value     3,078,408 3,240,330 179,210,281 66,519,702 97,364,228 33,379,867 31,608,908 965,844 110,237,355 62,570,125 34,429,293 3,995,815 455,928,473 170,671,683
Weighted Average Coupon     2.83% 2.84% 3.36% 3.82% 5.31% 5.69% 1.25% 1.19% 5.50% 5.79% 0.66% 0.98% 3.94% 4.81%
Weighted Average Yield     2.28% [3] 2.28% [3] 3.07% [3] 3.44% [3] 5.90% [3] 7.95% [3] 5.25% [3] 8.67% [3] 6.03% [3] 7.34% [3] 6.62% [3] 9.10% [3] 4.80% [3] 5.89% [3]
Change in unrealized gain / loss on real estate securities and mortgage loans $ 874,371 $ 6,489,794                            
[1] The Company has elected the fair value option pursuant to ASC 825 for its real estate securities. The Company recorded net change in unrealized gain / loss on its real estate securities of $903,277 and $6,489,794 for the three months ended March 31, 2013 and 2012, respectively, as change in unrealized gain / loss on real estate securities and mortgage loans in the consolidated statements of operations.
[2] The Company has elected the fair value option pursuant to ASC 825 for its real estate securities.
[3] Unleveraged yield.