AVAILABLE-FOR-SALE SECURITIES (as restated) (Details 1) - USD ($)		Sep. 30, 2016		Dec. 31, 2015
Debt Securities, Available-for-sale [Line Items]
Face Value		$ 826,351,171		$ 626,179,292
Unamortized premium		16,183,652		5,826,119
Unamortized discount
Designated credit reserve and OTTI		(2,628,385)	[1]	(8,891,565)
Net, unamortized		(33,344,143)		(57,280,275)
Amortized Cost		806,562,295		565,833,571
Gross unrealized gain		9,566,256		5,248,186
Gross unrealized (loss)		(5,111,514)		(6,389,447)
Fair Value	[2]	817,394,805		571,466,581
Agency [Member]
Debt Securities, Available-for-sale [Line Items]
Face Value		680,547,372		370,394,525
Unamortized premium		16,183,652		5,745,862
Unamortized discount
Designated credit reserve and OTTI		0	[1]	0
Net, unamortized		(1,518,366)		(1,929,145)
Amortized Cost		695,212,658		374,211,242
Gross unrealized gain		7,073,188		3,234,673
Gross unrealized (loss)		(286,853)		(2,112,858)
Fair Value		701,998,993		375,333,057
Non Agency RMBS [Member]
Debt Securities, Available-for-sale [Line Items]
Face Value	[3]	25,691,061		116,954,842
Unamortized premium	[3]	0		80,257
Unamortized discount
Designated credit reserve and OTTI	[3]	(2,628,385)	[1]	(8,891,565)
Net, unamortized	[3]	(4,366,558)		(22,101,062)
Amortized Cost	[3]	18,696,118		86,042,472
Gross unrealized gain	[3]	586,712		1,099,957
Gross unrealized (loss)	[3]	(2,956,542)		(1,808,973)
Fair Value		22,704,056		92,107,727
Residential Multi Family [Member]
Debt Securities, Available-for-sale [Line Items]
Face Value		120,112,738		138,829,925
Unamortized premium		0		0
Unamortized discount
Designated credit reserve and OTTI		0	[1]	0
Net, unamortized		(27,459,219)		(33,250,068)
Amortized Cost		92,653,519		105,579,857
Gross unrealized gain		1,906,356		913,556
Gross unrealized (loss)		(1,868,119)		(2,467,616)
Fair Value		$ 92,691,756		$ 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 $2,087,043 and $8,146,073, at September 30, 2016 and December 31, 2015, respectively, and OTTI of $932,500 and $745,493 at September 30, 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 September 30, 2016 and December 31, 2015, assets of consolidated VIEs totaled $1,425,612,641 and $1,868,482,556, respectively, and the liabilities of consolidated VIEs totaled $1,401,605,297 and $1,750,916,265, respectively

[3] Non-Agency AFS does not include interest-only securities with a notional amount of $572,277,838, book value of $14,712,374, unrealized loss of $8,334,605 and a fair value of $6,377,768 at September 30, 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.