DERIVATIVE INSTRUMENTS (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
DERIVATIVE INSTRUMENTS
Notional	$ 940,671,900		$ 940,671,900		$ 1,034,450,000
Fair value, Asset	196,009		196,009		8,244,355
Fair value, Liability	15,732,862		15,732,862		7,031,033
Unrealized Gain/(Loss)	(6,276,905)	24,172,958	(16,784,639)	20,347,002
Realized Gain/(Loss)	(18,996,419)	(3,493,931)	(34,775,351)	2,601,734
Net Result from Derivative Transactions	(25,273,324)	20,679,027	(51,559,990)	22,948,736
Cash margins held as collateral for derivatives by counterparties	29,963,211		29,963,211		21,959,114
Cash collateral held by counterparty	1,230,402		1,230,402		919,315
Caps 1MO LIB
DERIVATIVE INSTRUMENTS
Notional	71,250,000		71,250,000		71,250,000
Fair value, Asset	85		85
Remaining Maturity			11 months 1 day		1 month 20 days
Variable interest rate			1MO LIB		1MO LIB
Unrealized Gain/(Loss)	85	(717)	85	102
Realized Gain/(Loss)	(7,125)		(7,125)
Net Result from Derivative Transactions	(7,040)	(717)	(7,040)	102
Futures
DERIVATIVE INSTRUMENTS
Notional	704,900,000		704,900,000		798,700,000
Fair value, Asset					7,992,185
Fair value, Liability	7,842,153		7,842,153
Unrealized Gain/(Loss)	(5,462,311)	18,020,544	(15,833,365)	11,001,463
Realized Gain/(Loss)	(18,090,064)	(759,515)	(32,871,471)	8,014,801
Net Result from Derivative Transactions	(23,552,375)	17,261,029	(48,704,836)	19,016,264
5-years US T-Note
DERIVATIVE INSTRUMENTS
Notional	151,200,000		151,200,000		45,000,000
Fair value, Asset					402,719
Fair value, Liability	671,719		671,719
Remaining Maturity			3 months		3 months
Term of derivative contract			5 years		5 years
10-years US T-Note
DERIVATIVE INSTRUMENTS
Notional	553,700,000		553,700,000		753,700,000
Fair value, Asset					7,589,466
Fair value, Liability	7,170,434		7,170,434
Remaining Maturity			3 months		3 months
Term of derivative contract			10 years		10 years
Swaps 3MO LIB
DERIVATIVE INSTRUMENTS
Notional	121,000,000		121,000,000		121,000,000
Fair value, Liability	7,163,971		7,163,971		6,420,495
Remaining Maturity			4 years 7 days		4 years 6 months 4 days
Variable interest rate			3MO LIB		3MO LIB
Unrealized Gain/(Loss)	(561,124)	6,819,824	(740,444)	10,243,147
Realized Gain/(Loss)	(801,783)	(2,779,955)	(1,601,921)	(4,126,903)
Net Result from Derivative Transactions	(1,362,907)	4,039,869	(2,342,365)	6,116,244
Credit Derivatives
DERIVATIVE INSTRUMENTS
Notional	43,521,900		43,521,900		43,500,000
Fair value, Asset	195,924		195,924		252,170
Fair value, Liability	726,738		726,738		610,538
Unrealized Gain/(Loss)	(253,555)	(666,693)	(210,915)	(897,710)
Realized Gain/(Loss)	(97,447)	45,539	(294,834)	(1,286,164)
Net Result from Derivative Transactions	(351,002)	(621,154)	(505,749)	(2,183,874)
CMBX
DERIVATIVE INSTRUMENTS
Notional	10,000,000		10,000,000		10,000,000
Fair value, Asset	148,310		148,310		252,170
Remaining Maturity			7 years 8 months 26 days		8 years 4 months 17 days
CDX
DERIVATIVE INSTRUMENTS
Notional	33,500,000		33,500,000		33,500,000
Fair value, Liability	726,738		726,738		610,538
Remaining Maturity			4 years 5 months 23 days		4 years 11 months 19 days
S&P 500 Put Options 3/4/14
DERIVATIVE INSTRUMENTS
Notional	1,900		1,900
Fair value, Asset	14,378		14,378
Remaining Maturity			2 months 19 days
SPX VOLATILITY INDEX CALL 11/19/14
DERIVATIVE INSTRUMENTS
Notional	20,000		20,000
Fair value, Asset	$ 33,236		$ 33,236
Remaining Maturity			4 months 20 days