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DERIVATIVE INSTRUMENTS - Schedule of Derivatives Outstanding (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Derivative [Line Items]    
Notional $ 1,242,900,000 $ 1,553,750,000
Fair value, Asset 2,821,000 423,000
Fair value, Liability 5,504,000 13,445,000
1MO LIBOR    
Derivative [Line Items]    
Notional   71,250,000
Fair value, Asset   0
Fair value, Liability   $ 0
Remaining Maturity   7 months 27 days
5-year Swap    
Derivative [Line Items]    
Notional 670,100,000 $ 496,200,000
Fair value, Asset 2,122,000 108,000
Fair value, Liability $ 0 $ 28,000
Remaining Maturity 3 months 3 months
Term of derivative contract 5 years 5 years
10-year Swap    
Derivative [Line Items]    
Notional $ 477,900,000 $ 842,800,000
Fair value, Asset 463,000 104,000
Fair value, Liability $ 1,451,000 $ 8,258,000
Remaining Maturity 3 months 3 months
Term of derivative contract 10 years 10 years
5-year U.S. Treasury Note    
Derivative [Line Items]    
Notional $ 800,000  
Fair value, Asset 3,000  
Fair value, Liability $ 0  
Remaining Maturity 3 months  
10-year U.S. Treasury Note    
Derivative [Line Items]    
Notional $ 600,000  
Fair value, Asset 3,000  
Fair value, Liability $ 0  
Remaining Maturity 3 months  
Futures    
Derivative [Line Items]    
Notional $ 1,149,400,000 $ 1,339,000,000
Fair value, Asset 2,591,000 212,000
Fair value, Liability 1,451,000 8,286,000
Swaps 3MO LIB    
Derivative [Line Items]    
Notional 50,000,000 100,000,000
Fair value, Asset 0 0
Fair value, Liability $ 3,686,000 $ 4,505,000
Remaining Maturity 4 years 8 months 19 days 3 years 2 months 4 days
CMBX    
Derivative [Line Items]    
Notional $ 10,000,000 $ 10,000,000
Fair value, Asset 230,000 211,000
Fair value, Liability $ 0 $ 0
Remaining Maturity 5 years 7 months 2 days 6 years 9 months 18 days
CDX    
Derivative [Line Items]    
Notional $ 33,500,000 $ 33,500,000
Fair value, Asset 0 0
Fair value, Liability $ 367,000 $ 654,000
Remaining Maturity 2 years 11 months 1 day 3 years 11 months 19 days
Credit Derivatives    
Derivative [Line Items]    
Notional $ 43,500,000 $ 43,500,000
Fair value, Asset 230,000 211,000
Fair value, Liability $ 367,000 $ 654,000