FINANCIAL INSTRUMENTS (Details) - USD ($)		Dec. 31, 2016	Dec. 31, 2015
Assets:
Assets, Fair Value Disclosure		$ 2,249,305,912	$ 2,453,252,486
Liabilities:
Liabilities, Fair Value Disclosure		(1,339,430,026)	(1,744,715,435)
Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure		8,053,813	4,961,350
Liabilities:
Liabilities, Fair Value Disclosure		0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure		2,237,811,290	2,444,022,463
Liabilities:
Liabilities, Fair Value Disclosure		(1,339,430,026)	(1,744,715,435)
Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		3,440,809	4,268,673
Liabilities:
Liabilities, Fair Value Disclosure		0	0
Residential Mortgage Backed Securities [Member]
Assets:
Assets, Fair Value Disclosure	[1]	870,929,601	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]	870,929,601	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		2,849,536	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		2,849,536	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		1,222,905,433	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		1,222,905,433	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		141,126,720	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		141,126,720	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		3,440,809	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		3,440,809	4,268,673
FHLB Stock [Member]
Assets:
Assets, Fair Value Disclosure			2,403,000
FHLB Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure			2,403,000
FHLB Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure			0
FHLB Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure			0
Eurodollar Futures [Member]
Assets:
Assets, Fair Value Disclosure		8,053,813	2,558,350
Eurodollar Futures [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Assets, Fair Value Disclosure		8,053,813	2,558,350
Eurodollar Futures [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Eurodollar Futures [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Assets, Fair Value Disclosure		0	0
Multi-family securitized debt obligations [Member]
Liabilities:
Liabilities, Fair Value Disclosure		(1,204,583,678)	(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		(1,204,583,678)	(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		(134,846,348)	(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		(134,846,348)	(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, see Note 3 and Note 4.