Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities
Net income / (loss)	$ 28,354,994	$ (5,595,182)
Adjustments to reconcile net income / (loss) to net cash (used in) / provided by operating activities
Net (accretion)/amortization of (discounts)/premiums related to mortgage loans	(3,423,653)	(259,435)
Net (accretion)/amortization of (discounts)/premiums related to real estate securities	(2,603,804)	(1,566,256)
Net (accretion)/amortization of (discounts)/premiums related to other investment securities	(80,424)
Change in unrealized gain or loss on mortgage loans	(22,650,525)	(1,567,291)
Change in unrealized gain or loss on real estate securities	(4,284,253)	14,739,365
Change in unrealized gain or loss on other investment securities	(1,276,626)
Realized gain on mortgage loans	(407,404)	(66,244)
Realized (gains) / loss on real estate securities	(73,619)	246,055
Change in unrealized gain or loss on derivative instruments	4,798,590	(3,244,803)
Amortization of Exchangeable Senior Notes discount	456,164
Changes in operating assets and liabilities
Increase in other assets	(1,481,828)	(302,375)
Increase in accounts payable and other liabilities	718,707	788,610
Increase in accrued interest payable	180,931	361,927
Net cash (used in) / provided by operating activities	(1,772,750)	3,534,371
Cash flows from investing activities
Acquisitions of mortgage loans	(84,795,975)	(119,758,049)
Proceeds from principal repayments on mortgage loans	9,509,379	867,594
Acquisitions of real estate securities, net of change in payable for real estate securities purchased	(11,830,958)	(344,623,655)
Proceeds from principal repayments on real estate securities	15,582,121	24,639,160
Proceeds from sales of real estate securities, net of changes in receivable for real estate securities sold	2,072,198	53,913,098
Acquisitions of other investment securities	(10,676,953)
Premium paid for interest rate swaption	(4,803,750)
Restricted cash used in investment activities	(6,015,816)	(8,777,793)
Net cash used in investing activities	(90,959,754)	(393,739,645)
Cash flows from financing activities
Proceeds from issuance of common stock, net		118,862,500
Payment of common stock repurchase liability		(5,750,512)
Net borrowings from loan repurchase facility	57,550,505	89,112,325
Borrowings from securities repurchase agreements	71,542,192	287,941,369
Repayments of securities repurchase agreements	(53,789,926)	(95,524,421)
Dividends on common stock and distributions on OP Units (net of change in dividends and distributions payable)	(12,012,030)	(1,957,516)
Repurchase of preferred stock including dividend		(148,379)
Equity raise payments		(216,658)
Net cash provided by financing activities	63,290,741	392,318,708
Net (decrease)/increase in cash	(29,441,763)	2,113,434
Cash
Beginning of period	57,060,806	19,061,110
End of period	27,619,043	21,174,544
Supplemental disclosure of cash flow information
Interest paid on loan repurchase facility, securities repurchase agreements and Exchangeable Senior Notes	7,607,762	1,308,888
Taxes paid
Supplemental disclosure of noncash investing and financing activities
Increase in dividends and distributions payable	$ 3,559,120