Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Results [Abstract]

Schedule of Quarterly Results of Operations

	For the Three Months Ended
	December31, 2014 (1)			September30, 2014			June30, 2014		March31, 2014
Total interest income	$	10,267,875		$	11,000,619		$	10,831,220	$	9,493,033
Total interest expense		4,447,530			4,491,678			4,416,385		3,903,952
Net interest income		5,820,345			6,508,941			6,414,835		5,589,081
Non-interest income		4,730,212			—			—		—
Total other gain/(loss)		(2,944,631	)		(1,805,117	)		22,688,696		992,101
Total expenses		8,239,984			3,424,026			3,231,396		4,098,323
Income tax benefit		850,996			—			—		—
Net income/(loss)		216,938			1,279,798			25,872,135		2,482,859
Net income/(loss) attributable to ZAIS Financial Corp. common stockholders	$	194,337		$	1,149,497		$	23,173,931	$	2,224,205
Net income/(loss) per share applicable to common stockholders – basic	$	0.02		$	.14		$	2.91	$	.28
Net income/(loss) per share applicable to common stockholders – diluted	$	0.02		$	.14		$	2.47	$	.28
Weighted average number of shares Basic		7,970,886			7,970,886			7,970,886		7,970,886
Diluted		8,897,800			8,897,800			10,677,360		8,897,800

(1)

On October 31, 2014 the Company, completed the acquisition of GMFS. The Company has recognized the revenues and earnings related to its investment in GMFS for the period from the acquisition date to December31, 2014 which are reflected in its consolidated statements of operations.

	For the Three Months Ended
	December31, 2013		September30, 2013		June30, 2013			March31, 2013
Total interest income	$	8,773,339	$	8,273,444	$	5,935,511		$	3,436,033
Total interest expense		3,090,565		2,333,139		1,156,780			514,035
Net interest income		5,682,774		5,940,305		4,778,731			2,921,998
Total other gain/(loss)		6,033,137		1,172,969		(10,527,875	)		1,155,515
Total expenses		2,715,456		2,965,082		1,819,733			2,103,818
Net income/(loss)		9,000,455		4,148,192		(7,568,877	)		1,973,695
Net income/(loss) attributable to ZAIS Financial Corp. common stockholders	$	8,062,847	$	3,716,061	$	(6,780,401)		$	1,659,222
Net income/(loss) per share applicable to common stockholders – basic	$	1.01	$	.47	$	(.85	)	$	.32
Net income/(loss) per share applicable to common stockholders – diluted	$	.98	$	.47	$	(.85	)	$	.32
Weighted average number of shares Basic		7,970,886		7,970,886		7,970,886			5,142,053
Diluted		9,594,150		8,897,800		8,897,800			6,068,967