FINANCIAL INSTRUMENTS (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Assets:
Assets, Fair Value Disclosure	$ 2,940,268,570		$ 2,865,575,195
Liabilities:
Liabilities, Fair Value Disclosure	(2,028,005,979)		(2,104,898,490)
Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	45,000		0
Liabilities:
Liabilities, Fair Value Disclosure	(474,766)		(533,951)
Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	2,940,223,570		2,865,575,195
Liabilities:
Liabilities, Fair Value Disclosure	(2,027,531,213)		(2,104,364,539)
Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Residential Mortgage Backed Securities [Member]
Assets:
Assets, Fair Value Disclosure	601,126,052	[1]	368,315,738	[1]
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	0	[1]	0	[1]
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	601,126,052	[1]	368,315,738	[1]
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0	[1]	0	[1]
Residential mortgage loans [Member]
Assets:
Assets, Fair Value Disclosure	111,656,191		54,678,382
Residential mortgage loans [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Residential mortgage loans [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	111,656,191		54,678,382
Residential mortgage loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Multi-Family mortgage loans held in securitization trusts [Member]
Assets:
Assets, Fair Value Disclosure	1,671,260,380		1,750,294,430
Multi-Family mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Multi-Family mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	1,671,260,380		1,750,294,430
Multi-Family mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Residential mortgage loans held in securitization trusts [Member]
Assets:
Assets, Fair Value Disclosure	556,180,947		631,446,984
Residential mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Residential mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	556,180,947		631,446,984
Residential mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Linked transactions [Member]
Assets:
Assets, Fair Value Disclosure			60,818,111
Linked transactions [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure			0
Linked transactions [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure			60,818,111
Linked transactions [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure			0
Swaptions [Member]
Assets:
Assets, Fair Value Disclosure	0		21,550
Swaptions [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Swaptions [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	0		21,550
Swaptions [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	0		0
Interest rate swaps [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(3,627,781)		(1,755,107)
Interest rate swaps [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(3,627,781)		(1,755,107)
Interest rate swaps [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Multi-family securitized debt obligations [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(1,589,502,264)		(1,670,573,456)
Multi-family securitized debt obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Multi-family securitized debt obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(1,589,502,264)		(1,670,573,456)
Multi-family securitized debt obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Residential securitized debt obligations [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(434,401,168)		(432,035,976)
Residential securitized debt obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Residential securitized debt obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(434,401,168)		(432,035,976)
Residential securitized debt obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Futures [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(474,766)		(533,951)
Futures [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	(474,766)		(533,951)
Futures [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Futures [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure	0		0
Mortgage Servicing Rights [Member]
Assets:
Assets, Fair Value Disclosure			0
Mortgage Servicing Rights [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure			0
Mortgage Servicing Rights [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure			0
FHLB Stock [Member]
Assets:
Assets, Fair Value Disclosure	45,000
FHLB Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	45,000
FHLB Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	0
FHLB Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	$ 0

[1] For more detail about the fair value of the Company’s MBS and type of securities, see Note 3 and Note 4.