Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (1,097,005)	$ 1,883,335
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Other-than-temporary impairment charges	4,301,223	0
Amortization/accretion of available-for-sale securities premiums and discounts, net	(7,882,863)	(2,316,901)
Realized (gain) loss on sale of investments, net	(369,843)	4,591,068
Unrealized (gain) loss on Linked Transactions, net	0	(9,339,380)
Realized (gain) loss on derivative contracts	4,047,878	1,692,593
Unrealized (gain) loss on derivative contracts	849,006	11,100,869
Realized (gain) loss on mortgage loans held-for-sale	(1,031,291)	0
Unrealized (gain) on mortgage loans held-for-sale	43,159	0
Unrealized (gain) loss on mortgage servicing rights	268,311	0
Unrealized (gain) loss on multi-family loans held in securitization trusts	(3,840,584)	0
Unrealized (gain) loss on residential loans held in securitization trusts	6,332,205	0
Restricted stock compensation expense	45,078	(35,696)
Net change in:
Accrued interest receivable	1,168,276	(427,882)
Other assets	(253,708)	(170,475)
Accrued interest payable	(603,702)	(12,147)
Fees and expenses payable to Manager	93,000	230,000
Other accounts payable and accrued expenses	849,389	(56,215)
Net cash provided by operating activities	2,918,529	7,045,927
Cash flows from investing activities:
Purchase of available-for-sale securities	(109,389,530)	(214,616,170)
Purchase of mortgage loans held-for-sale	(282,639,129)	(4,417,555)
Purchase of mortgage service rights	(2,725,685)	0
Purchase of FHLB stock	(2,403,000)	0
Proceeds from mortgage loans held-for-sale	288,811,206	0
Proceeds from sales of available-for-sale securities	162,351,939	86,186,338
Net proceeds from (payments for) derivative contracts	(3,963,878)	(191,406)
Payments for sales of derivative contracts and interest expense	0	(1,333,187)
Principal payments from available-for-sale securities	39,601,721	18,412,683
Principal payments from mortgage loans held-for-sale	515,738	0
Deferred securitization	(89,643)	0
Investment related receivable	70,399,740	(418,520)
Restricted cash	(2,890,771)	(30,065,505)
Payable for securities purchased	0	15,492,311
Net cash (used in) provided by investing activities	157,578,708	(130,951,011)
Cash flows from financing activities:
Net proceeds from issuance of common stock	(225,594)	73,684,805
Net proceeds from issuance of preferred stock	45,511	19,103,574
Change in deferred offering costs	0	(688,281)
Dividends paid on common stock	(11,039,813)	(7,191,938)
Dividends paid on preferred stock	(1,761,018)	(1,129,647)
Proceeds from repurchase agreements - available-for-sale securities	3,192,400,999	2,145,752,286
Proceeds from repurchase agreements - mortgage loans held-for-sale	47,097,001	3,957,697
Proceeds fromFHLBI advances	53,400,000	0
Principal repayments of repurchase agreements - available-for-sale securities	(3,387,929,999)	(2,049,592,286)
Principal repayments of repurchase agreements - mortgage loans held-for-sale	(54,697,754)	0
Net cash received (paid) on securities underlying Linked Transactions	0	(173,775,114)
Net cash received from repurchase agreements underlying Linked Transactions	0	136,536,000
Net cash (used in) provided by financing activities	(162,710,667)	146,657,096
Net increase (decrease) in cash and cash equivalents	(2,213,430)	22,752,012
Cash and cash equivalents, beginning of period	32,274,285	33,062,931
Cash and cash equivalents, end of period	30,060,855	55,814,943
Supplemental disclosure of cash flow information
Cash paid for interest	4,934,989	1,180,173
Non-cash investing and financing activities information
Restricted stock compensation expense	45,078	(35,696)
Dividends declared but not paid at end of period	29,349	29,349
Net change in unrealized gain (loss) on available-for-sale securities	(993,726)	18,031,737
Consolidation of multi-family loans held in securitization trusts	1,625,701,369	0
Consolidation of residential loans held in securitization trusts	474,205,879	0
Consolidation of multi-family securitized debt obligations	1,541,927,234	0
Consolidation of residential securitized debt obligations	357,151,265	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