BORROWINGS (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Short-term Debt [Line Items]
Repurchase Agreements, Amount outstanding	$ 469,626,356	$ 568,432,457	[1]
Repurchase Agreements, Weighted average interest rate	1.22%	1.19%
Repurchase Agreements, Market value of collateral held	$ 593,964,442	$ 697,384,372
Agency [Member]
Short-term Debt [Line Items]
Repurchase Agreements, Amount outstanding	$ 307,072,000	$ 358,239,000
Repurchase Agreements, Weighted average interest rate	0.67%	0.66%
Repurchase Agreements, Market value of collateral held	$ 324,846,334	$ 374,952,510
Non-Agency [Member]
Short-term Debt [Line Items]
Repurchase Agreements, Amount outstanding	$ 57,845,000	$ 114,512,000
Repurchase Agreements, Weighted average interest rate	2.09%	2.24%
Repurchase Agreements, Market value of collateral held	$ 84,406,691	$ 121,475,112
Multi-Family [Member]
Short-term Debt [Line Items]
Repurchase Agreements, Amount outstanding	$ 95,356,000	$ 86,177,000
Repurchase Agreements, Weighted average interest rate	2.31%	1.83%
Repurchase Agreements, Market value of collateral held	$ 173,844,914	$ 190,056,347
Mortgage loans [Member]
Short-term Debt [Line Items]
Repurchase Agreements, Amount outstanding	$ 9,353,356	$ 9,504,457
Repurchase Agreements, Weighted average interest rate	2.79%	2.87%
Repurchase Agreements, Market value of collateral held	$ 10,866,503	$ 10,900,403

[1] Counterparties domiciled in Europe and Asia, or their U.S. subsidiaries.