FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The following tables summarize the valuation of the Company’s assets and liabilities at fair value within the fair value hierarchy levels as of June 30, 2013 and December 31, 2012:

	Quoted prices in		Significant
	active markets		other observable		Unobservable
	for identical assets		inputs		inputs		Balance as of
	Level 1		Level 2		Level 3		June 30, 2013
Assets:
Residential mortgage-backed securities (a)	$	-	$	590,302,740	$	-	$	590,302,740
Linked transactions (b)		-		15,657,200		-		15,657,200
Interest rate swaps		-		5,770,974		-		5,770,974
Swaptions		-		1,618,567		-		1,618,567
Total	$	-	$	613,349,481	$	-	$	613,349,481

	Quoted prices in		Significant
	active markets		other observable		Unobservable
	for identical assets		inputs		inputs		Balance as of
	Level 1		Level 2		Level 3		December 31, 2012
Assets:
Residential mortgage-backed securities (a)	$	-	$	81,027,998	$	-	$	81,027,998
Linked transactions (b)		-		8,612,753		-		8,612,753
Swaptions		-		12,062		-		12,062
Total	$	-	$	89,652,813	$	-	$	89,652,813
Liabilities:
Interest rate swaps	$	-	$	(283,754)	$	-	$	(283,754)
Total	$	-	$	(283,754)	$	-	$	(283,754)

(a) For more detail about the fair value of the Company’s RMBS and type of securities, see Note 3 and Note 4.

(b) For more detail about the fair value of the Company’s Linked Transactions, see Note 3 and Note 7.