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Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2013
Derivative Instruments [Abstract]  
Schedule of Information about Interest Rate Swaps

   The following table summarizes information related to derivative instruments:

    September 30,   December 31,
Non-hedge derivatives   2013   2012
Notional amount of interest rate swaps       $ 17,200,000       $ 32,600,000
Notional amount of TBAs     -     -
       Total notional amount   $ 17,200,000   $ 32,600,000
Schedule of Fair Value of Derivative Instruments

     The following table presents the fair value of the Company's derivative instruments and their balance sheet location:

            September 30,   December 31,
Derivative instruments   Designation   Balance Sheet Location   2013   2012
Interest rate swaps       Non-hedge       Derivative liabilities, at fair value       $ (52,457 )       $      (1,144,744 )
TBAs(1)   Non-hedge   Derivative liabilities, at fair value   $      (544,531 )   $ -  
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(1)         At September 30, 2013 the Company has no remaining exposure to TBA contracts as all open contracts had been paired off. The related derivative liability at September 30, 2013 represents settlement amounts to be paid subsequent to September 30, 2013.
Schedule of Gains / (Losses) Related to Derivatives

     The following table summarizes gains and losses related to derivatives:

        Three Months Ended   Nine Months Ended
Non-hedge       September 30,   September 30,   September 30,   September 30,
derivatives   Income Statement Location   2013   2012   2013   2012
Interest rate swaps       Gain/(loss) on derivative instruments       $      2,058,737         $      (362,681 )       $      10,275,664         $      (1,118,633 )
TBAs(1)   Gain/(loss) on derivative instruments     (548,594 )     -       (4,785,996 )     -  
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(1)         For the three and nine month periods ended September 30, 2013, gains and losses from purchases and sales of TBAs consist of $0.2 million and $1.3 million, respectively, of net TBA dollar roll net interest income and net losses of $0.8 million and $6.0 million, respectively, due to price declines.
Schedule of Information Related to Derivative Instruments

     The following table presents information about the Company's interest rate swap agreements as of September 30, 2013:

          Weighted   Weighted   Weighted
          Average Pay   Average Receive   Average Years to
Maturity       Notional Amount       Rate       Rate       Maturity
2023   $      17,200,000   2.72 %   0.26 %   9.8
       Total/Weighted average   $ 17,200,000   2.72 %   0.26 %   9.8

     The following table presents information about the Company's interest rate swap agreements as of December 31, 2012:

          Weighted Average   Weighted Average   Weighted Average
Maturity       Notional Amount       Pay Rate   Receive Rate   Years to Maturity
2016   $ 12,102,000   1.21 %       0.31 %       3.7
2017     11,050,000   1.28     0.31     4.3
2021     9,448,000   2.16     0.31     8.7
       Total/Weighted average   $ 32,600,000   1.51 %   0.31 %   5.3