AVAILABLE-FOR-SALE SECURITIES (Details 1) - USD ($)		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Face Value		$ 509,203,466	$ 626,179,292
Unamortized premium		4,509,903	5,826,119
Unamortized discount
Designated credit reserve and OTTI	[1]	(4,629,162)	(8,891,565)
Net, unamortized		(44,741,600)	(57,280,275)
Amortized Cost		464,342,607	565,833,571
Gross unrealized gain		7,572,525	5,248,186
Gross unrealized (loss)		(9,836,105)	(6,389,447)
Fair Value	[2]	468,482,202	571,466,581
Agency [Member]
Schedule of Available-for-sale Securities [Line Items]
Face Value		316,467,417	370,394,525
Unamortized premium		4,429,900	5,745,862
Unamortized discount
Designated credit reserve and OTTI	[1]	0	0
Net, unamortized		(1,817,555)	(1,929,145)
Amortized Cost		319,079,762	374,211,242
Gross unrealized gain		6,066,842	3,234,673
Gross unrealized (loss)		(300,270)	(2,112,858)
Fair Value		324,846,334	375,333,057
Non Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Face Value	[3]	72,559,605	116,954,842
Unamortized premium	[3]	80,003	80,257
Unamortized discount
Designated credit reserve and OTTI	[1],[3]	(4,629,162)	(8,891,565)
Net, unamortized	[3]	(13,000,852)	(22,101,062)
Amortized Cost	[3]	55,009,594	86,042,472
Gross unrealized gain	[3]	720,234	1,099,957
Gross unrealized (loss)	[3]	(4,775,184)	(1,808,973)
Fair Value	[3]	57,357,819	92,107,727
Residential Multi Family [Member]
Schedule of Available-for-sale Securities [Line Items]
Face Value		120,176,444	138,829,925
Unamortized premium		0	0
Unamortized discount
Designated credit reserve and OTTI	[1]	0	0
Net, unamortized		(29,923,193)	(33,250,068)
Amortized Cost		90,253,251	105,579,857
Gross unrealized gain		785,449	913,556
Gross unrealized (loss)		(4,760,651)	(2,467,616)
Fair Value		$ 86,278,049	$ 104,025,797

[1] Discount designated as Credit Reserve and amount related to OTTI are generally not expected to be accreted into interest income. Amounts disclosed reflect Credit Reserve of $3,862,676 and $8,146,073, at March 31, 2016 and December 31, 2015, respectively, and OTTI of $766,487 and $745,493 at March 31, 2016 and December 31, 2015, respectively

[2] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIE's) as the Company is the primary beneficiary of these VIEs. As of March 31, 2016 and December 31, 2015, assets of consolidated VIEs totaled $1,836,767,480 and $1,868,482,556, respectively, and the liabilities of consolidated VIEs totaled $1,720,340,585 and $1,750,916,265, respectively

[3] Non-Agency AFS does not include interest-only securities with a notional amount of $401,531,398, book value of $7,815,919, unrealized loss of $1,412,744 and a fair value of $6,403,175 at March 31, 2016 and a notional amount of $428,230,275. Book value of $7,815,919, unrealized loss of $1,041,649 and a fair value of $6,774,271 as of December 31, 2015