Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ (5,130,327)	$ (2,541,274)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other-than-temporary impairment charges	4,868,428	0
Amortization/accretion of available-for-sale securities premiums and discounts, net	(4,054,629)	(1,114,284)
Realized loss on sale of investments, net	154,313	4,619,002
Unrealized (gain) loss on Linked Transactions, net	0	(3,906,530)
Realized (gain) loss on derivative contracts	2,830,486	842,767
Unrealized (gain) loss on derivative contracts	1,751,038	5,132,327
Realized (gain) on mortgage loans held-for-sale	(272,232)	0
Unrealized (gain) on mortgage loans held-for-sale	(551,383)	0
Unrealized (gain) loss on multi-family loans held in securitization trusts	(2,037,112)	0
Unrealized (gain) loss on residential loans held in securitization trusts	3,356,407	0
Restricted stock compensation expense	25,647	(55,100)
Net change in:
Accrued interest receivable	695,665	(84,392)
Other assets	25,234	(43,103)
Accrued interest payable	(293,519)	(79,306)
Fees and expenses payable to Manager	164,000	105,000
Other accounts payable and accrued expenses	719,566	(26,656)
Net cash provided by operating activities	2,251,582	2,848,451
Cash flows from investing activities:
Purchase of available-for-sale securities	(30,494,013)	(120,163,603)
Purchase of mortgage loans held-for-sale	(60,408,315)	0
Purchase of FHLB stock	(45,000)	0
Proceeds from mortgage loans held-for-sale	3,943,436	0
Proceeds from sales of available-for-sale securities	0	83,435,713
Net proceeds of (payment for) derivative contracts	(2,746,486)	(758,767)
Principal payments from available-for-sale securities	17,551,490	8,069,672
Principal payments from mortgage loans held-for-sale	310,685	0
Deferred securitization	(145,710)	0
Investment related receivable	71,619,614	2,535
Restricted cash	(2,923,590)	(2,256,283)
Payable for securities purchased	0	1,014,045
Net cash used in investing activities	(3,337,889)	(30,656,688)
Cash flows from financing activities:
Net proceeds from issuance of common stock	(105,547)	39,241,880
Net proceeds from issuance of preferred stock	0	2,778,201
Deferred offering costs	(68,453)	0
Dividends paid on common stock	(5,519,531)	(3,183,469)
Dividends paid on preferred stock	(880,509)	(500,713)
Proceeds from repurchase agreements - available-for-sale securities	1,524,881,000	1,030,594,286
Proceeds from repurchase agreements - mortgage loans held-for-sale	47,097,001	0
Proceeds from FHLBI advances	1,000,000	0
Principal repayments of repurchase agreements - available-for-sale securities	(1,571,301,000)	(1,007,469,000)
Net cash received (paid) on securities underlying Linked Transactions	0	(110,210,375)
Net cash received from repurchase agreements underlying Linked Transactions	0	86,321,713
Net cash (used in)/ provided by financing activities	(4,897,039)	33,572,523
Net increase (decrease) in cash and cash equivalents	(5,983,346)	5,764,286
Cash and cash equivalents, beginning of period	32,274,285	33,062,931
Cash and cash equivalents, end of period	26,290,939	38,827,217
Supplemental disclosure of cash flow information
Cash paid for interest	2,151,362	480,916
Non-cash investing and financing activities information
Restricted stock compensation expense	25,647	(55,100)
Dividends declared but not paid at end of period	39,132	22,361
Net change in unrealized gain (loss) on available-for-sale securities	7,424,415	12,405,767
Consolidation of multi-family loans held in securitization trusts	1,677,170,247	0
Consolidation of residential loans held in securitization trusts	558,025,314	0
Consolidation of multi-family securitized debt obligations	1,595,199,584	0
Consolidation of residential securitized debt obligations	435,640,219	0
MBS securities recorded upon adoption of revised accounting standard for repurchase agreement financing.	210,238,653	0
Repurchase agreements recorded upon adoption of revised accounting standard for repurchase agreement financing	$ 149,293,000	$ 0