Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014		Dec. 31, 2013
ASSETS
Available-for-sale securities, at fair value (includes pledged securities of $506,275,939 and $444,984,955 for September 30, 2014 and December 31, 2013, respectively)	$ 506,974,444		$ 444,984,955
Mortgage loans held-for-sale, at fair value	226,997,450		0
Multi-family loans held in securitization trusts, at fair value	1,368,692,410
Linked transactions, net, at fair value	75,804,679		33,352,562
Cash and cash equivalents	21,056,526		33,062,931
Restricted cash	37,103,295		13,343,173
Deferred offering costs	666,329		0
Accrued interest receivable	5,005,439		1,045,191
Investment related receivable	980,953		506,892
Derivative assets, at fair value	325,918		1,839,154
Other assets	153,481		66,547
Total assets	2,243,760,924	[1]	528,201,405	[1]
LIABILITIES:
Repurchase agreements	704,623,626	[2]	412,172,000	[3]
Multi-family securitized debt obligations	1,312,890,841		0
Derivative liabilities, at fair value	669,304		839,413
Accrued interest payable	2,935,156		274,615
Dividends payable	29,349		42,501
Fees and expenses payable to Manager	855,000		330,000
Other accounts payable and accrued expenses	503,935		617,514
Deferred tax liability	179,136		0
Total liabilities	2,022,686,347	[1]	414,276,043	[1]
STOCKHOLDERS' EQUITY:
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, 8.75% Series A cumulative redeemable, $25 liquidation preference, 1,610,000 and 800,000 issued and outstanding at September 30, 2014 and December 31, 2013, respectively	37,156,972		18,060,898
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 14,718,750 and 7,389,250 shares issued and outstanding, at September 30, 2014 and December 31, 2013, respectively	146,953		73,563
Additional paid-in capital	189,378,368		110,129,489
Accumulated other comprehensive income (loss)	5,425,904		(11,094,954)
Cumulative distributions to stockholders	(25,996,718)		(11,289,370)
Accumulated earnings	14,963,098		8,045,736
Total stockholders' equity	221,074,577		113,925,362
Total liabilities and stockholders' equity	2,243,760,924		528,201,405
Available-for-sale Securities [Member]
LIABILITIES:
Repurchase agreements	499,462,000		412,172,000
Mortgage Loans Held-or-Sale [Member]
LIABILITIES:
Repurchase agreements	$ 205,161,626		$ 0

[1] Our condensed consolidated balance sheets include assets and liabililties of consolidated variable initerest entities ("VIEs") as the Company is primary beneficiary of these VIEs. As of September 30, 2014 and December 31, 2013, assets of consolidated VIEs totaled $1,371,125,728 and $0, respectively, and the liabilities of consolidated VIEs totaled $1,315,249,444 and $0, respectively.

[2] At September 30, 2014, the Company had repurchase agreements of $103,438,000 and $82,759,000 that were linked to Non- Agency RMBS and Multi-Family MBS purchases, respectively, and were accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the above table. (See Note 3).

[3] At December 31, 2013, the Company had repurchase agreements of $61,181,000 that were linked to Non-Agency RMBS purchases and were accounted for as Linked Transactions, and as such, the linked repurchase agreements are not included in the above table. (See Note 3).