FINANCIAL INSTRUMENTS (Details) - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Assets:
Assets, Fair Value Disclosure		$ 2,250,164,120	$ 2,453,252,486
Liabilities:
Liabilities, Fair Value Disclosure		(1,401,185,642)	(1,744,715,435)
Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure		11,300	4,961,350
Liabilities:
Liabilities, Fair Value Disclosure		(4,613,988)	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure		2,247,127,387	2,444,022,463
Liabilities:
Liabilities, Fair Value Disclosure		(1,396,571,654)	(1,744,715,435)
Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		3,025,433	4,268,673
Liabilities:
Liabilities, Fair Value Disclosure		0	0
Residential mortgage-backed securities [Member]
Assets:
Assets, Fair Value Disclosure	[1]	817,394,805	571,466,581
Residential mortgage-backed securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure	[1]	0	0
Residential mortgage-backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure	[1]	817,394,805	571,466,581
Residential mortgage-backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure	[1]	0	0
Residential mortgage loans [Member]
Assets:
Assets, Fair Value Disclosure		9,274,002	10,900,402
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		9,274,002	10,900,402
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		1,267,101,902	1,449,774,383
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		1,267,101,902	1,449,774,383
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		153,356,678	411,881,097
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		153,356,678	411,881,097
Residential mortgage loans held in securitization trusts [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Mortgage servicing rights [Member]
Assets:
Assets, Fair Value Disclosure		3,025,433	4,268,673
Mortgage servicing rights [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Mortgage servicing rights [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Mortgage servicing rights [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		3,025,433	4,268,673
FHLB stock [Member]
Assets:
Assets, Fair Value Disclosure		11,300	2,403,000
FHLB stock [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure		11,300	2,403,000
FHLB stock [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
FHLB stock [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Futures [Member]
Assets:
Assets, Fair Value Disclosure			2,558,350
Liabilities:
Liabilities, Fair Value Disclosure		(4,613,988)	0
Futures [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure			2,558,350
Liabilities:
Liabilities, Fair Value Disclosure		(4,613,988)	0
Futures [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure			0
Liabilities:
Liabilities, Fair Value Disclosure		0	0
Futures [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure			0
Liabilities:
Liabilities, Fair Value Disclosure		0	0
Interest rate swaps [Member]
Liabilities:
Liabilities, Fair Value Disclosure			0
Interest rate swaps [Member] | Fair Value, Inputs, Level 1 [Member]
Liabilities:
Liabilities, Fair Value Disclosure			0
Interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Liabilities:
Liabilities, Fair Value Disclosure			0
Interest rate swaps [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure			0
Multi-family securitized debt obligations [Member]
Liabilities:
Liabilities, Fair Value Disclosure		(1,249,163,769)	(1,364,077,012)
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		(1,249,163,769)	(1,364,077,012)
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		(147,407,885)	(380,638,423)
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		(147,407,885)	(380,638,423)
Residential securitized debt obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities:
Liabilities, Fair Value Disclosure		$ 0	$ 0

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