AG Mortgage Investment Trust, I (MITT) 10-Q 5 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013
Document Information [Line Items]	'	'
Entity Registrant Name	'AG Mortgage Investment Trust, Inc.	'
Entity Central Index Key	'0001514281	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Trading Symbol	'MITT	'
Entity Common Stock, Shares Outstanding	'	28,378,219
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'
Document Period End Date	30-Sep-13	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets	'	'
Commercial loans receivable, at fair value	$30,000,000	$2,500,000
Investment in affiliates	16,114,596	0
Linked transactions, net, at fair value	51,085,912	45,122,824
Cash and cash equivalents	35,089,032	149,594,782
Restricted cash	15,431,616	9,130,000
Interest receivable	12,673,519	14,242,453
Receivable on unsettled trades - $99,664,974 and $0 pledged as collateral, respectively	106,233,394	96,310,999
Receivable under reverse repurchase agreements	50,125,000	0
Derivative assets, at fair value	31,970,483	0
Other assets	853,542	454,069
Due from broker	1,383,818	884,605
Total Assets	3,892,042,141	4,855,268,512
Liabilities	'	'
Repurchase agreements	2,965,095,409	3,911,419,818
Obligation to return securities borrowed under reverse repurchase agreements, at fair value	50,025,781	0
Payable on unsettled trades	120,099,264	84,658,035
Interest payable	2,837,294	3,204,205
Derivative liabilities, at fair value	3,477,340	36,375,947
Dividend payable	17,017,528	18,540,667
Due to affiliates	4,168,756	3,910,065
Accrued expenses	1,100,043	806,853
Taxes payable	1,373,083	1,731,141
Due to broker	19,022,027	0
Total Liabilities	3,184,216,525	4,060,646,731
Stockholders' Equity	'	'
Common stock, par value $0.01 per share; 450,000,000 shares of common stock authorized and 28,360,046 and 26,961,936 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively	283,601	269,620
Additional paid-in capital	585,511,504	552,067,681
Retained earnings (deficit)	-39,183,494	81,070,475
Total Stockholders Equity	707,825,616	794,621,781
Total Liabilities & Equity	3,892,042,141	4,855,268,512
8.25% Series A Cumulative Redeemable Preferred Stock [Member]	'	'
Stockholders' Equity	'	'
Preferred stock - $0.01 par value; 50,000,000 shares authorized:	49,920,772	49,920,772
8.00% Series B Cumulative Redeemable Preferred Stock [Member]	'	'
Stockholders' Equity	'	'
Preferred stock - $0.01 par value; 50,000,000 shares authorized:	111,293,233	111,293,233
Agency [Member]	'	'
Assets	'	'
Real estate securities, at fair value:	2,747,032,252	3,785,867,151
Non-Agency [Member]	'	'
Assets	'	'
Real estate securities, at fair value:	630,034,943	568,858,645
ABS [Member]	'	'
Assets	'	'
Real estate securities, at fair value:	99,344,323	33,937,097
CMBS [Member]	'	'
Assets	'	'
Real estate securities, at fair value:	$64,669,711	$148,365,887

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets [Parenthetical] (USD $)	Sep. 30, 2013	Dec. 31, 2012
Loans Pledged as Collateral	$99,664,974	$0
Preferred Stock, par value (in dollars per share)	$0.01	$0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	28,360,046	26,961,936
Common stock, shares outstanding	28,360,046	26,961,936
Agency [Member]	'	'
Real estate securities, at fair value, pledged as collateral (in dollars)	2,459,557,624	3,536,876,135
Non-Agency [Member]	'	'
Real estate securities, at fair value, pledged as collateral (in dollars)	620,674,314	529,455,020
ABS [Member]	'	'
Real estate securities, at fair value, pledged as collateral (in dollars)	87,730,723	33,937,097
CMBS [Member]	'	'
Real estate securities, at fair value, pledged as collateral (in dollars)	64,669,711	148,307,262
8.25% Series A Cumulative Redeemable Preferred Stock [Member]	'	'
Preferred Stock, Shares Issued	2,070,000	2,070,000
Preferred Stock, Shares Outstanding	2,070,000	2,070,000
Preferred Stock, Liquidation Preference, Value (in dollars)	51,750,000	51,750,000
8.00% Series B Cumulative Redeemable Preferred Stock [Member]	'	'
Preferred Stock, Shares Issued	4,600,000	4,600,000
Preferred Stock, Shares Outstanding	4,600,000	4,600,000
Preferred Stock, Liquidation Preference, Value (in dollars)	$115,000,000	$115,000,000

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Interest Income	'	'	'	'
Interest income	$33,278,284	$28,285,116	$114,163,747	$60,164,752
Interest expense	5,584,419	4,228,610	19,749,592	8,506,041
Interest Income (Expense), Net	27,693,865	24,056,506	94,414,155	51,658,711
Other Income	'	'	'	'
Net realized gain/(loss)	-45,247,890	4,105,323	-116,489,235	14,087,123
Gain on linked transactions, net	2,060,270	6,688,111	6,558,879	13,492,268
Realized loss on periodic interest settlements of interest rate swaps, net	-9,123,233	-2,471,590	-21,205,353	-6,061,954
Unrealized gain/(loss) on real estate securities and loans, net	40,136,126	45,917,570	-60,668,593	78,755,229
Unrealized gain/(loss) on derivative and other instruments, net	-5,779,945	-13,371,486	67,348,314	-26,793,133
Total other income (loss)	-17,954,672	40,867,928	-124,455,988	73,479,533
Expenses	'	'	'	'
Management fee to affiliate	2,523,547	1,657,701	8,195,890	3,903,378
Other operating expenses	2,819,431	1,653,547	7,780,385	3,227,786
Equity based compensation to affiliate	55,105	120,612	186,983	312,712
Excise tax	373,083	272,195	1,391,942	605,773
Total expenses	5,771,166	3,704,055	17,555,200	8,049,649
Income/(loss) before provision for income taxes and equity in earnings from affiliate	3,968,027	61,220,379	-47,597,033	117,088,595
Provision for income taxes	-122,979	0	-2,778,758	0
Equity in earnings from affiliate	2,155,471	0	1,911,830	0
Net Income/(Loss)	6,000,519	61,220,379	-48,463,961	117,088,595
Dividends on preferred stock	3,367,354	790,100	10,102,062	790,100
Net Income/(Loss) Available to Common Stockholders	$2,633,165	$60,430,279	($58,566,023)	$116,298,495
Earnings/(Loss) Per Share of Common Stock	'	'	'	'
Basic (in dollars per share)	$0.09	$3.13	($2.10)	$7.07
Diluted (in dollars per share)	$0.09	$3.10	($2.10)	$7.07
Weighted Average Number of Shares of Common Stock Outstanding	'	'	'	'
Basic (in shares)	28,359,937	19,336,154	27,906,946	16,439,100
Diluted (in shares)	28,359,943	19,462,984	27,906,946	16,449,450
Dividends Declared per Share of Common Stock (in dollars per share)	$0.60	$0.77	$2.20	$2.17

Consolidated_Statements_Of_Sto

Consolidated Statements Of Stockholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	8.25% Series A Cumulative Redeemable Preferred Stock [Member]	8.00% Series B Cumulative Redeemable Preferred Stock [Member]
Balance at Dec. 31, 2011	$206,283,920	$100,100	$198,228,694	$7,955,126	$0	$0
Balance (in shares) at Dec. 31, 2011	'	10,009,958	'	'	'	'
Net proceeds from issuance of common stock	259,703,554	128,570	259,574,984	0	0	0
Net proceeds from issuance of common stock (in shares)	'	12,857,056	'	'	'	'
Net proceeds from issuance of preferred stock	161,221,901	0	0	0	49,919,633	111,302,268
Net proceeds from issuance of preferred stock (in shares)	'	0	'	'	'	'
Grant of restricted stock and amortization of equity based compensation	368,880	165	368,715	0	0	0
Grant of restricted stock and amortization of equity based compensation (in shares)	'	16,466	'	'	'	'
Common dividends declared	-39,666,700	0	0	-39,666,700	0	0
Preferred Series A dividends declared	-521,847	0	0	-521,847	0	0
Preferred Series B dividends declared	0	0	0	0	0	0
Net loss/ income	117,088,595	0	0	117,088,595	0	0
Balance at Sep. 30, 2012	704,478,303	228,835	458,172,393	84,855,174	49,919,633	111,302,268
Balance (in shares) at Sep. 30, 2012	'	22,883,480	'	'	'	'
Balance at Dec. 31, 2012	794,621,781	269,620	552,067,681	81,070,475	49,920,772	111,293,233
Balance (in shares) at Dec. 31, 2012	'	26,961,936	'	'	'	'
Net proceeds from issuance of common stock	33,176,288	13,817	33,162,471	0	0	0
Net proceeds from issuance of common stock (in shares)	'	1,381,739	'	'	'	'
Grant of restricted stock and amortization of equity based compensation	281,516	164	281,352	0	0	0
Grant of restricted stock and amortization of equity based compensation (in shares)	'	16,371	'	'	'	'
Common dividends declared	-61,687,946	0	0	-61,687,946	0	0
Preferred Series A dividends declared	-3,202,062	0	0	-3,202,062	0	0
Preferred Series B dividends declared	-6,900,000	0	0	-6,900,000	0	0
Net loss/ income	-48,463,961	0	0	-48,463,961	0	0
Balance at Sep. 30, 2013	$707,825,616	$283,601	$585,511,504	($39,183,494)	$49,920,772	$111,293,233
Balance (in shares) at Sep. 30, 2013	'	28,360,046	'	'	'	'

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities	'	'
Net income/(loss)	($48,463,961)	$117,088,595
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:	'	'
Net realized (gain)/loss	116,489,235	-14,087,123
Net amortization of premium related to real estate securities	36,501,617	25,957,829
Unrealized (gains) from equity method investments	-1,286,037	0
Unrealized (gains)/losses on linked transactions, net	3,898,885	-6,630,834
Unrealized (gains)/losses on derivative and other instruments, net	-67,348,314	26,793,133
Unrealized (gains)/losses on real estate securities and loans, net	60,668,593	-78,755,229
Equity based compensation to affiliate	186,983	312,712
Equity based compensation expense	132,103	121,442
Change in operating assets/liabilities:	'	'
Interest receivable	1,884,612	-11,644,920
Other assets	-399,473	-739,389
Due from affiliates	0	104,994
Due from broker	-499,213	0
Interest payable	3,080,028	1,925,763
Due to affiliates	258,691	1,712,360
Accrued expenses	293,190	644,013
Due to broker	0	-379,914
Taxes payable	-358,058	0
Net cash provided by operating activities	105,038,881	62,423,432
Cash Flows from Investing Activities	'	'
Purchase of real estate securities	-2,679,895,866	-3,837,629,974
Purchase of securities underlying linked transactions	-218,804,843	-485,212,383
Investment in affiliates	-14,357,976	0
Proceeds from sale of real estate securities	3,143,631,407	733,698,851
Proceeds from sale of securities underlying linked transactions	131,400,523	19,540,469
Principal repayments on real estate securities	417,502,447	195,364,056
Principal repayments on securities underlying linked transactions	68,647,086	38,127,461
Net payments made on reverse repurchase agreements	-50,133,363	0
Net proceeds from sales of securities borrowed under reverse repurchase agreements	49,024,920	0
Purchase of commercial loans	-30,017,825	0
Net settlement of interest rate swaps	-9,346,968	-332,127
Net settlement of TBAs	-374,861	1,363,750
Restricted cash provided by (used in) investment activities	-3,908,000	1,451,001
Net cash provided by (used in) investing activities	803,366,681	-3,333,628,896
Cash Flows from Financing Activities	'	'
Net proceeds from issuance of common stock	33,176,288	259,664,211
Net proceeds from issuance of preferred stock	0	161,128,492
Borrowings under repurchase agreements	20,325,114,240	15,936,148,227
Borrowings under repurchase agreements underlying linked transactions	2,899,553,903	1,753,757,081
Repayments of repurchase agreements	-21,271,438,649	-13,243,069,017
Repayments of repurchase agreements underlying linked transactions	-2,952,632,359	-1,518,618,310
Collateral received from (held by) derivative counterparty	15,211,121	-2,100,000
Collateral received from (held by) repurchase counterparty	1,417,291	-1,443,993
Dividends paid on common stock	-63,211,085	-29,093,703
Dividends paid on preferred stock	-10,102,062	-521,847
Net cash provided by (used in) financing activities	-1,022,911,312	3,315,851,141
Net change in cash and cash equivalents	-114,505,750	44,645,677
Cash and cash equivalents, Beginning of Period	149,594,782	35,851,249
Cash and cash equivalents, End of Period	35,089,032	80,496,926
Supplemental disclosure of cash flow information:	'	'
Cash paid for interest on repurchase agreements	19,994,933	9,198,068
Cash paid for income tax	4,528,945	0
Real estate securities recorded upon unlinking of Linked Transactions	43,415,283	170,956,115
Repurchase agreements recorded upon unlinking of Linked Transactions	35,674,382	139,532,632
Supplemental disclosure of non-cash financing activities:	'	'
Common stock dividends declared but not paid	$17,017,528	$17,584,168

Organization

Organization	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation Of Financial Statements Disclosure [Text Block]	'
	1. Organization
	AG Mortgage Investment Trust, Inc. (the “Company”) was organized in the state of Maryland on March 1, 2011. The Company is focused on investing in, acquiring and managing a diversified portfolio of residential mortgage-backed securities, or RMBS, issued or guaranteed by a government-sponsored enterprise such as Fannie Mae or Freddie Mac, or any agency of the U.S. Government such as Ginnie Mae (collectively, “Agency RMBS”), and other real estate-related securities and financial assets, including Non-Agency RMBS, ABS, CMBS and loans (as defined below).
	Non-Agency RMBS represent fixed-and floating-rate residential RMBS issued by entities or organizations other than a U.S. government-sponsored enterprise or agency of the U.S. government, including investment grade (AAA through BBB) and non investment grade classes (BB and below). The mortgage loan collateral for residential Non-Agency RMBS consists of residential mortgage loans that do not generally conform to underwriting guidelines issued by U.S. government agencies or U.S. government-sponsored entities.
	Asset Backed Securities (“ABS”) are securitized investments similar to the aforementioned investments except the underlying assets are diverse, not only representing real estate related assets.
	Commercial Mortgage Backed Securities (“CMBS”) represent investments of fixed- and floating-rate CMBS, including investment grade (AAA through BBB) and non investment grade classes (BB and below). CMBS will be secured by, or evidence an ownership interest in, a single commercial mortgage loan or a pool of commercial mortgage loans.
	Collectively, the Company refers to Agency RMBS, Non-Agency RMBS, ABS and CMBS assets types as real estate securities.
	Commercial Loans Receivable (“loans”) are secured by an interest in commercial real estate and represent a contractual right to receive money on demand or on fixed or determinable dates.
	The Company is externally managed by AG REIT Management, LLC (the “Manager”), a wholly-owned subsidiary of Angelo, Gordon & Co., L.P. (“Angelo, Gordon”), a privately-held, SEC-registered investment adviser. The Manager, pursuant to a delegation agreement dated as of June 29, 2011, has delegated to Angelo, Gordon the overall responsibility with respect to the Manager’s day-to-day duties and obligations arising under the management agreement.
	The Company conducts its operations to qualify and be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).
	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	2. Summary of Significant Accounting Policies
	The accompanying unaudited consolidated financial statements and related notes have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain prior period amounts have been reclassified to conform to the current period’s presentation. In the opinion of management, all adjustments considered necessary for a fair presentation for the interim period of the Company’s financial position, results of operations and cash flows have been included and are of a normal and recurring nature. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year.
	Cash and cash equivalents
	Cash is comprised of cash on deposit with financial institutions. We classify highly liquid investments with original maturities of three months or less from the date of purchase as cash equivalents. We place our cash and cash equivalents with high credit quality institutions to minimize credit risk exposure. Any cash held by the Company as collateral would be included in a due to broker line item on the consolidated balance sheet and in cash flows from financing activities on the consolidated statement of cash flows.
	Restricted cash
	Restricted cash includes cash pledged as collateral for clearing and executing trades, interest rate swaps and repurchase agreements. Restricted cash is carried at cost, which approximates fair value.
	Offering costs
	The Company incurred costs in connection with common stock offerings and issuances of preferred stock. The offering costs were paid out of the proceeds of the respective offerings. Offering costs in connection with common stock offerings have been accounted for as a reduction of additional paid-in-capital and offering costs in connection with preferred stock offerings have been accounted for as a reduction of their respective gross proceeds.
	Use of estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
	Earnings/(Loss) per share
	In accordance with the provisions of Accounting Standards Codification (“ASC”) 260, “Earnings per Share,” the Company calculates basic income/(loss) per share by dividing net income/(loss) available to common stockholders for the period by weighted-average shares of the Company’s common stock outstanding for that period. Diluted income/(loss) per share takes into account the effect of dilutive instruments, such as stock options, warrants and unvested restricted stock, but uses the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding.
	Valuation of financial instruments
	The fair value of the financial instruments that the Company records at fair value will be determined by the Manager, subject to oversight of the board of directors, and in accordance with ASC 820, “Fair Value Measurements and Disclosures.” When possible, the Company determines fair value using independent data sources. ASC 820 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under ASC 820 are described below:
		•	Level 1 – Quoted prices in active markets for identical assets or liabilities.
		•	Level 2 – Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
		•	Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Company’s assumptions about the factors that market participants would use in pricing an asset or liability, and would be based on the best information available.
	Transfers between levels are assumed to occur at the beginning of the reporting period.
	Accounting for real estate securities
	Investments in real estate securities are recorded in accordance with ASC 320. The Company has chosen to make a fair value election pursuant to ASC 825 for its real estate securities portfolio. Real estate securities are recorded at fair market value on the consolidated balance sheet and the periodic change in fair market value is recorded in current period earnings on the consolidated statement of operations as a component of “Unrealized gain/(loss) on real estate securities and loans, net.”
	These investments generally meet the requirements to be classified as available for sale under ASC 320-10-25, “Debt and Equity Securities,” which requires the securities to be carried at fair value on the consolidated balance sheet with changes in fair value charged to other comprehensive income, a component of Stockholders’ Equity. Electing the fair value option allows the Company to record changes in fair value in the statement of operations, which, in management’s view, more appropriately reflects the results of operations for a particular reporting period as all securities activities will be recorded in a similar manner.
	We evaluate securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. The determination of whether a security is other-than-temporarily impaired involves judgments and assumptions based on subjective and objective factors. When the fair value of an investment security is less than its amortized cost at the balance sheet date, the security is considered impaired, and the impairment is designated as either “temporary” or “other-than-temporary.”
	When an investment security is impaired, an OTTI is considered to have occurred if (i) we intend to sell the security (i.e. a decision has been made as of the reporting date) or (ii) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If we intend to sell the security or if it is more likely than not that we will be required to sell the investment security before recovery of its amortized cost basis, the entire amount of the impairment loss, if any, is recognized in earnings as a realized loss and the cost basis of the security is adjusted to its fair value. For securities accounted for under ASC 325-40, “Beneficial Interests in Securitized Financial Assets,” an OTTI is deemed to have occurred when there is an adverse change in the expected cash flows to be received and the fair value of the security is less than its carrying amount. In determining whether an adverse change in cash flows occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), is compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflect those a “market participant” would use and are discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments are reflected in the net realized gain/(loss) line item on the consolidated statement of operations.
	Increases in interest income may be recognized on a security that an OTTI charge was taken, if the performance of such security subsequently improves. The determination as to whether an OTTI exists is subjective, given that such determination is based on information available at the time of assessment as well as the Company’s estimate of the future performance and cash flow projections for the individual security. As a result, the timing and amount of an OTTI constitutes an accounting estimate that may change materially over time.
	Securities in an unrealized loss position at September 30, 2013 are not considered other than temporarily impaired as the Company has the ability and intent to hold the securities to maturity or for a period of time sufficient for a forecasted market price recovery up to or above the cost of the investment, and the Company is not required to sell the security for regulatory or other reasons. See Note 3 for a summary of OTTI charges recorded.
	Sales of securities
	Sales of securities are driven by the Manager’s portfolio management process. The Manager seeks to mitigate risks including those associated with prepayments and will opportunistically rotate the portfolio into securities with more favorable attributes. Strategies may also be employed to manage net capital gains, which need to be distributed for tax purposes.
	Realized gains or losses on sales of securities and derivatives, inclusive of linked transactions are included in the net realized gain/(loss) line item on the consolidated statement of operations. The cost of positions sold is calculated using a FIFO basis. Realized gains and losses are recorded in earnings at the time of disposition.
	Accounting for loans
	Investments in mortgage loans are recorded in accordance with ASC 310. The Company has chosen to make a fair value election pursuant to ASC 825 for its loan portfolio. Loans are recorded at fair market value on the consolidated balance sheet and any periodic change in fair market value will be recorded in current period earnings on the consolidated statement of operations as a component of “Unrealized gain/(loss) on real estate securities and loans, net.”
	The Company amortizes or accretes any premium or discount over the life of the related loan utilizing the effective interest method. On at least a quarterly basis, the Company evaluates the collectability of both interest and principal of each loan, if circumstances warrant, to determine whether they are impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan is impaired, the amount of the loss accrual is calculated and recorded accordingly. Income recognition is suspended for loans at the earlier of the date at which payments become 90-days past due or when, in the opinion of management, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired loan is not in doubt, contractual interest is recorded as interest income when received, under the cash basis method until an accrual is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. A loan is written off when it is no longer realizable and/or legally discharged.
	Investment in affiliates
	The Company’s unconsolidated ownership interests in affiliates are generally accounted for using the equity method. The underlying entities have chosen to make a fair value election pursuant to ASC 825; as such the Company will treat its investment in affiliates consistently with this election. The investment in affiliates is recorded at fair market value on the consolidated balance sheet and periodic changes in fair market value will be recorded in current period earnings on the consolidated statement of operation as a component of “Equity in earnings from affiliate.” Capital contributions, distributions and profits and losses of such entities are allocated in accordance with the terms of the applicable agreements.
	Investment consolidation
	For each investment made, the Company evaluates the underlying entity that issued the securities acquired or to which the Company makes a loan to determine the appropriate accounting. A similar analysis will be performed for each entity with which the Company enters into an agreement for management, servicing or related services. In performing the analysis, the Company will refer to guidance in ASC 810-10, “Consolidation.” In situations where the Company is the transferor of financial assets, the Company will refer to the guidance in ASC 860-10, “Transfers and Servicing.”
	In variable interest entities (“VIEs”), an entity is subject to consolidation under ASC 810-10 if the equity investors either do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, are unable to direct the entity’s activities or are not exposed to the entity’s losses or entitled to its residual returns. VIEs within the scope of ASC 810-10 are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. This determination can sometimes involve complex and subjective analyses. Further, ASC 810-10 also requires ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. In accordance with ASC 810-10, all transferees, including variable interest entities, must be evaluated for consolidation. If the Company were to treat securitizations as sales in the future, the Company will analyze the transactions under the guidelines of ASC 810-10 for consolidation. All VIEs in which the Company has participated are non-recourse to the Company.
	The Company may periodically enter into transactions in which it sells assets. Upon a transfer of financial assets, the Company will sometimes retain or acquire senior or subordinated interests in the related assets. Pursuant to ASC 860-10, a determination must be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor’s continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. The financial components approach under ASC 860-10 limits the circumstances in which a financial asset, or portion of a financial asset, should be derecognized when the transferor has not transferred the entire original financial asset to an entity that is not consolidated with the transferor in the financial statements being presented and/or when the transferor has continuing involvement with the transferred financial asset. It defines the term “participating interest” to establish specific conditions for reporting a transfer of a portion of a financial asset as a sale.
	Under ASC 860-10, after a transfer of financial assets that meets the criteria for treatment as a sale—legal isolation, ability of transferee to pledge or exchange the transferred assets without constraint and transferred control—an entity recognizes the financial and servicing assets it acquired or retained and the liabilities it has incurred, derecognizes financial assets it has sold and derecognizes liabilities when extinguished. The transferor would then determine the gain or loss on sale of financial assets by allocating the carrying value of the underlying mortgage between securities or loans sold and the interests retained based on their fair values. The gain or loss on sale is the difference between the cash proceeds from the sale and the amount allocated to the securities or loans sold. When a transfer of financial assets does not qualify for sale accounting, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral.
	From time to time, the Company may securitize mortgage loans it holds if such financing is available. These transactions will be recorded in accordance with ASC 860-10 and will be accounted for as either a “sale” and the loans will be removed from the balance sheet or as a “financing” and will be classified as “real estate securities” on the consolidated balance sheet, depending upon the structure of the securitization transaction. ASC 860-10 is a complex standard that may require the Company to exercise significant judgment in determining whether a transaction should be recorded as a “sale” or a “financing.”
	Interest income recognition
	Interest income on the Company’s real estate securities portfolio is accrued based on the actual coupon rate and the outstanding principal balance of such securities. The Company has elected to record interest in accordance with ASC 835-30-35-2 using the effective interest method for all securities accounted for under the fair value option (ASC 825). As such, premiums and discounts are amortized or accreted into interest income over the lives of the securities in accordance with ASC 310-20, “Nonrefundable Fees and Other Costs”, ASC 320-10, “Investments—Debt and Equity Securities” or ASC 325-40, “Beneficial Interests in Securitized Financial Assets,” as applicable. Total interest income will flow though the interest income line item on the Consolidated Statement of Operations.
	On at least a quarterly basis for securities accounted for under ASC 320-10 and ASC 310-20 (generally Agency RMBS), prepayments of the underlying collateral must be estimated, which directly affect the speed at which we amortize such securities. If actual and anticipated cash flows differ from previous estimates, we recognize a “catch-up” adjustment in the current period to the amortization of premiums for the impact of the cumulative change in the effective yield through the reporting date.
	Similarly, we also reassess the cash flows on at least a quarterly basis for securities accounted for under ASC 325-40 (generally Non-Agency RMBS, ABS, CMBS and interest only securities). In estimating these cash flows, there are a number of assumptions that will be subject to uncertainties and contingencies. These include the rate and timing of principal and interest receipts, (including assumptions of prepayments, repurchases, defaults and liquidations), the pass-through or coupon rate and interest rate fluctuations. In addition, interest payment shortfalls due to delinquencies on the underlying mortgage loans have to be judgmentally estimated. Differences between previously estimated cash flows and current actual and anticipated cash flows are recognized prospectively through an adjustment of the yield over the remaining life of the security based on the current amortized cost of the investment as adjusted for credit impairment, if any.
	Interest income on the Company’s loan portfolio is accrued based on the actual coupon rate and the outstanding principal balance of such loans. The Company has elected to record interest in accordance with ASC 835-30-35-2 using the effective interest method for all loans accounted for under the fair value option (ASC 825). Any amortization will be reflected as an adjustment to interest income in the consolidated statements of operations.
	For investments purchased with evidence of deterioration of credit quality for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payments receivable, the Company will apply the provisions of ASC 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality.” ASC 310-30 addresses accounting for differences between contractual cash flows and cash flows expected to be collected from an investor’s initial investment in loans or debt securities (loans) acquired in a transfer if those differences are attributable, at least in part, to credit quality. ASC 310-30 limits the yield that may be accreted (accretable yield) to the excess of the investor’s estimate of undiscounted expected principal, interest and other cash flows (cash flows expected at acquisition to be collected) over the investor’s initial investment in the loan. ASC 310-30 requires that the excess of contractual cash flows over cash flows expected to be collected (nonaccretable difference) not be recognized as an adjustment of yield, loss accrual or valuation allowance. Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan’s yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as impairment.
	The Company’s accrual of interest, discount and premium for U.S. federal and other tax purposes differs from the financial accounting treatment of these items as described above.
	Repurchase agreements
	The Company finances the acquisition of certain assets within its portfolio through the use of repurchase agreements. Repurchase agreements are treated as collateralized financing transactions and are carried at primarily their contractual amounts, including accrued interest, as specified in the respective agreements. The carrying amount of the Company’s repurchase agreements approximates fair value as the debt is short-term in nature.
	The Company pledges certain securities as collateral under repurchase agreements with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. The amounts available to be borrowed are dependent upon the fair value of the securities pledged as collateral, which fluctuates with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries. In response to declines in fair value of pledged securities, lenders may require the Company to post additional collateral or pay down borrowings to re-establish agreed upon collateral requirements, referred to as margin calls. As of September 30, 2013 and December 31, 2012, the Company has met all margin call requirements.
	In instances where the Company acquires assets through repurchase agreements with the same counterparty from whom the assets were purchased, the Company evaluates such transactions in accordance with ASC 860-10. This standard requires the initial transfer of a financial asset and repurchase financing that are entered into contemporaneously with, or in contemplation of, one another to be considered linked unless all of the criteria found in ASC 860-10 are met at the inception of the transaction. If the transaction meets all of the conditions, the initial transfer shall be accounted for separately from the repurchase financing, and the Company will record the assets and the related financing on a gross basis on its balance sheet with the corresponding interest income and interest expense in the statements of operations. If the transaction is determined to be linked, the Company will record the initial transfer and repurchase financing on a net basis and record a forward commitment to purchase assets as a derivative instrument with changes in market value being recorded on the consolidated statement of operations. Such forward commitments are recorded at fair value with subsequent changes in fair value recognized in income. The Company refers to these transactions as Linked Transactions. When or if a transaction is no longer considered to be linked, the real estate security and related repurchase financing will be reported on a gross basis. The unlinking of a transaction causes a realized event in which the fair value of the real estate security as of the date of unlinking will become the cost basis of the real estate security. The difference between the fair value on the unlinking date and the existing cost basis of the security will be the realized gain or loss. Recognition of effective yield for such security will be calculated prospectively using the new cost basis.
	Accounting for derivative financial instruments
	The Company may enter into derivative contracts, including interest rate swaps and interest rate caps, as a means of mitigating its interest rate risk. The Company uses interest rate derivative instruments primarily to mitigate interest rate risk rather than to enhance returns. The Company accounts for derivative financial instruments in accordance with ASC 815-10, “Derivatives and Hedging.” ASC 815-10 requires an entity to recognize all derivatives as either assets or liabilities on the balance sheet and to measure those instruments at fair value. Additionally, the fair value adjustments will affect either other comprehensive income in stockholders’ equity until the hedged item is recognized in earnings or net income depending on whether the derivative instrument is designated and qualifies as a hedge for accounting purposes and, if so, the nature of the hedging activity. As of September 30, 2013 and December 31, 2012, the Company did not have any interest rate derivatives designated as hedges. All derivatives have been recorded at fair value in accordance with ASC 820-10, with corresponding changes in value recognized in the consolidated statement of operations.
	When derivative contracts are executed with the same counterparty for bilateral collateral arrangements, or the same Central Clearing Counterparty (“CCP”) and Futures Commission Merchants (“FCM”) under central clearing, the value of the derivative contracts is reported on a net-by-counterparty or net by CCP/FCM basis, as applicable on the balance sheet, where a legal right of off-set exists under an enforceable netting agreement. As a result, the net exposure to counterparties or CCP/FCM is reported as either an asset or liability on the consolidated balance sheet.
	To-be-announced securities
	A to-be-announced security (“TBA”) is a futures contract for the purchase or sale of Agency RMBS at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date. The specific Agency RMBS delivered into or received from the contract upon the settlement date, published each month by the Securities Industry and Financial Markets Association, are not known at the time of the transaction. TBAs are exempt from ASC 815 and are accounted for under ASC 320 if there is no other way to purchase or sell that security, if delivery or receipt of that security and settlement will occur within the shortest period possible for that type of security and if it is probable at inception and throughout the term of the individual contract that physical delivery or receipt of the security will occur (referred to as the “regular-way” exception). Unrealized gains and losses associated with TBA contracts not subject to the regular-way exception or not designated as hedging instruments are recognized in the consolidated statement of operations in the line item “unrealized gain/(loss) on derivative and other instruments, net.”
	Short positions in U.S. Treasury securities through reverse repurchase agreements
	The Company may sell short U.S. Treasury securities contracts to help mitigate the potential impact of changes in interest rates.  The Company may borrow securities to cover short sales of U.S. Treasury securities under reverse repurchase agreements, which are accounted for as borrowing transactions, and the Company recognizes an obligation to return the borrowed securities at fair value on its consolidated balance sheet based on the value of the underlying borrowed securities as of the reporting date. Realized and unrealized gains and losses associated with purchases and short sales of U.S. Treasury securities are recognized in “net realized gain/(loss)”, and “unrealized gain/(loss) on derivative and other instruments, net”, respectively, on our consolidated statements of operations.
	Manager compensation
	The management agreement provides for payment to the Manager of a management fee. The management fee is accrued and expensed during the period for which it is calculated and earned. For a more detailed discussion on the fees payable under the management agreement, see Note 10.
	Income taxes
	The Company conducts its operations to qualify and be taxed as a REIT. Accordingly, the Company will generally not be subject to federal or state corporate income tax to the extent that the Company makes qualifying distributions to its stockholders, and provided that it satisfies on a continuing basis, through actual investment and operating results, the REIT requirements including certain asset, income, distribution and stock ownership tests. If the Company fails to qualify as a REIT, and does not qualify for certain statutory relief provisions, it will be subject to U.S. federal, state and local income taxes and may be precluded from qualifying as a REIT for the four taxable years following the year in which the Company fails to qualify as a REIT.
	The dividends paid deduction of a REIT for qualifying dividends to its stockholders is computed using the Company’s taxable income as opposed to net income reported under GAAP in the financial statements. Taxable income, generally, will differ from net income reported on the financial statements because the determination of taxable income is based on tax provisions and not financial accounting principles.
	The Company has elected to treat AG MIT II, LLC, AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC as taxable REIT subsidiaries, (“TRS”) and may elect to treat other subsidiaries at TRSs. In general, a TRS may hold assets and engage in activities that the Company cannot hold or engage in directly and generally may engage in any real estate or non-real estate-related business. While a TRS will generate net income, a TRS can declare dividends to the Company which will be included in the Company’s taxable income and necessitate a distribution to stockholders. Conversely, if we retain earnings at the TRS level, no distribution is required and the Company can increase book equity of the consolidated entity. A TRS is subject to federal, state and local corporate income taxes.
The Company’s financial results are generally not expected to reflect provisions for current or deferred income taxes, except for any activities conducted through one or more TRSs that are subject to corporate income taxation. The Company believes that it will operate in a manner that will allow it to qualify for taxation as a REIT. As a result of the Company’s expected REIT qualification, it does not generally expect to pay federal or state corporate income tax. Many of the REIT requirements, however, are highly technical and complex. If the Company were to fail to meet the REIT requirements, it would be subject to federal income taxes and applicable state and local taxes. During the three and nine months ended September 30, 2013 the Company recognized an income tax provision of $0.1 million and $2.8 million, respectively, related to the income and sale of investments held within AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC.
As a REIT, if the Company fails to distribute in any calendar year at least the sum of (i) 85% of its ordinary income for such year, (ii) 95% of its capital gain net income for such year, and (iii) any undistributed taxable income from the prior year, the Company would be subject to a non-deductible 4% excise tax on the excess of such required distribution over the sum of (i) the amounts actually distributed and (ii) the amounts of income retained and on which the Company has paid corporate income tax.
The Company evaluates uncertain income tax positions, if any, in accordance with ASC Topic 740, “Income Taxes”. The Company classifies interest and penalties, if any, related to unrecognized tax benefits as a component of provision for income taxes. See Note 9 for further details.
Stock-based compensation
The Company applies the provisions of ASC 718, “Compensation—Stock Compensation” with regard to its equity incentive plans. ASC 718 covers a wide range of share-based compensation arrangements including stock options, restricted stock plans, performance-based awards, stock appreciation rights and employee stock purchase plans. ASC 718 requires that compensation cost relating to stock-based payment transactions be recognized in financial statements. The cost is measured based on the fair value of the equity or liability instruments issued.
Compensation cost related to restricted common shares issued to the Company’s directors is measured at its estimated fair value at the grant date, and is amortized and expensed over the vesting period on a straight-line basis. Compensation cost related to restricted common shares issued to the Manager is initially measured at estimated fair value at the grant date, and is remeasured on subsequent dates to the extent the awards are unvested. The Company has elected to use the straight-line method to amortize compensation expense for the restricted common shares granted to the Manager.
Recent accounting pronouncements
In December 2011, the FASB issued Accounting Standards Updated 2011-11, “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11). ASU 2011-11 amends Topic 210 to require additional disclosure information about offsetting and related arrangements. Entities will be required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This scope would include derivatives, sale and repurchase agreements and reverse sale and repurchase agreements. The objective of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of US GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards (“IFRS”). The guidance is effective for periods beginning on or after January 1, 2013, and interim periods within those annual periods.
In January 2013, the FASB issued ASU 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (ASU 2013 -1). ASU 2013-1 addresses implementation issues about ASU 2011-11 and applies to derivatives accounted for in accordance with ASC 815-10, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with ASC 210-20 “Balance Sheet – Offsetting” or ASC 815 or subject to an enforceable master netting arrangement or similar agreement. The guidance was effective January 1, 2013 and was applied retrospectively. This guidance does not amend the circumstances in which the Company offsets its derivative positions. As a result, the guidance does not have a material effect on the Company's financial statements.

Real_Estate_Securities

Real Estate Securities	9 Months Ended
	Sep. 30, 2013
Real Estate Securities [Abstract]	'
Mortgage-Backed Securities Disclosure [Text Block]	'
	3. Real Estate Securities
	The following tables present the current principal balance, premium or discount, amortized cost, gross unrealized gain, gross unrealized loss, fair market value, weighted average coupon rate and effective yield of the Company’s real estate securities portfolio at September 30, 2013 and December 31, 2012. The Company’s Agency RMBS are mortgage pass-through certificates or collateralized mortgage obligations representing interests in or obligations backed by pools of residential mortgage loans issued or guaranteed by Fannie Mae or Freddie Mac. The Non-Agency RMBS, ABS and CMBS portfolios are primarily not issued or guaranteed by Fannie Mae, Freddie Mac or any agency of the U.S. Government and are therefore subject to credit risk. The principal and interest payments on Agency RMBS securities have an explicit guarantee by either an agency of the U.S. government or a U.S government-sponsored enterprise. Real estate securities that are accounted for as a component of linked transactions are not reflected in the tables set forth in this note. See Note 7 for further details.
	The following table details the real estate securities portfolio as of September 30, 2013:
									Gross Unrealized (1)									Weighted Average
		Current Face		Premium		Amortized Cost			Gains			Losses			Fair Value			Coupon				Yield
				(Discount)														-2
	Agency RMBS:
	15 Year Fixed Rate	$	581,988,428	$	17,501,848	$	599,490,276		$	6,713,307		$	-401,924		$	605,801,659			3.13	%			2.49	%
	20 Year Fixed Rate		321,962,591		8,400,055		330,362,646			1,146,805			-1,960,675			329,548,776			3.36	%			2.61	%
	30 Year Fixed Rate		1,121,864,732		64,647,503		1,186,512,235			2,501,531			-13,804,211			1,175,209,555			4.01	%			3.24	%
	ARM		505,107,796		-2,166,104		502,941,692			2,184,823			-1,165,382			503,961,133			2.4	%			2.85	%
	Interest Only		723,052,361		-587,290,862		135,761,499			4,089,505			-7,339,875			132,511,129			4.87	%			6.46	%
	Credit Investments:
	Non-Agency RMBS		734,330,229		-116,094,638		618,235,591			18,964,449			-7,165,097			630,034,943			3.79	%			5.86	%
	ABS		100,516,816		-390,000		100,126,816			3,600			-786,093			99,344,323			3.8	%			3.91	%
	CMBS		59,600,315		-1,431,259		58,169,056			640,499			-636,265			58,173,290			4.98	%			6.08	%
	Interest Only		52,357,700		-45,647,365		6,710,335			-			-213,914			6,496,421			1.92	%			6.2	%
	Total	$	4,200,780,968	$	-662,470,822	$	3,538,310,146		$	36,244,519		$	-33,473,436		$	3,541,081,229			3.74	%			3.65	%
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our real estate securities portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	(2) Principal only securities with a zero coupon rate are excluded from this calculation.
	The following table details the real estate securities portfolio as of December 31, 2012:
									Gross Unrealized (1)									Weighted Average
		Current Face		Premium		Amortized Cost			Gains			Losses			Fair Value			Coupon				Yield
				(Discount)														-2
	Agency RMBS:
	15 Year Fixed Rate	$	1,177,320,487	$	46,922,089	$	1,224,242,576		$	24,223,576		$	-255,956		$	1,248,210,196			2.97	%			2.08	%
	20 Year Fixed Rate		137,858,353		6,696,803		144,555,156			3,569,538			-			148,124,694			3.68	%			2.78	%
	30 Year Fixed Rate		1,998,807,425		116,173,790		2,114,981,215			32,180,328			-3,423,448			2,143,738,095			3.63	%			2.75	%
	ARM		36,228,319		1,584,714		37,813,033			362,721			-			38,175,754			2.96	%			2.34	%
	Interest Only		972,543,812		-763,342,056		209,201,756			5,162,683			-6,746,027			207,618,412			6	%			7	%
	Credit Investments:
	Non-Agency RMBS		634,277,808		-87,414,086		546,863,722			6,704,413			-1,396,738			552,171,397			4.65	%			5.44	%
	ABS		33,620,881		-36,289		33,584,592			352,505			-			33,937,097			5.34	%			5.44	%
	CMBS		96,536,946		-2,094,604		94,442,342			2,956,780			-82,588			97,316,534			5.51	%			6.36	%
	Interest Only		640,867,674		-572,685,926		68,181,748			1,338,054			-1,783,201			67,736,601			2.13	%			5.5	%
	Total	$	5,728,061,705	$	-1,254,195,565	$	4,473,866,140		$	76,850,598		$	-13,687,958		$	4,537,028,780			3.92	%			3.22	%
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our real estate securities portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	(2) Equity residual investments with a zero coupon rate are excluded from this calculation.
	As described in Note 2, we evaluate securities for OTTI on at least a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. The determination of whether a security is other-than-temporarily impaired involves judgments and assumptions based on subjective and objective factors. When the fair value of an investment security is less than its amortized cost at the balance sheet date, the security is considered impaired, and the impairment is designated as either “temporary” or “other-than-temporary.”
	When an investment security is impaired, an OTTI is considered to have occurred if (i)  the Company intends to sell the security (i.e. a decision has been made as of the reporting date) or (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If the Company intends to sell the security or if it is more likely than not that the Company will be required to sell the investment security before recovery of its amortized cost basis, the entire amount of the impairment loss, if any, is recognized in earnings as a realized loss and the cost basis of the security is adjusted to its fair value. For securities accounted for under ASC 325-40, “Beneficial Interests in Securitized Financial Assets,” an OTTI is deemed to have occurred when there is an adverse change in the expected cash flows to be received and the fair value of the security is less than its carrying amount. In determining whether an adverse change in cash flows occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), is compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflect those a “market participant” would use and are discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments are reflected in the net realized gain/(loss) line item on the consolidated statement of operations.
	The following table presents the gross unrealized losses, and estimated fair value of the Company’s real estate securities by length of time that such securities have been in a continuous unrealized loss position at September 30, 2013 and December 31, 2012.
		Less than 12 months				Greater than 12 months
	As of	Fair Value		Unrealized		Fair Value			Unrealized
				Losses					Losses
	30-Sep-13	$	1,433,208,629	$	-26,017,110	$	126,040,631		$	-7,456,326
	31-Dec-12		777,773,600		-11,267,980		4,872,469			-2,419,978
	For the three months ended September 30, 2013 the Company recognized an OTTI charge of $7.9 million, which is included in net realized gain/(loss) line item on the consolidated statement of operations.  Of this amount, $6.7 million was recognized on certain securities in an unrealized loss position which the Company demonstrated intent to sell, and the charge represents a write-down to fair value as of the reporting date.  Additionally, the Company recorded $1.2 million of OTTI due to an adverse change in cash flows on certain securities, where the fair values of the securities were less than their carrying amounts.  For the nine months ended September 30, 2013, the Company recognized an OTTI charge of $51.1 million, which is included in net realized gain/(loss).  Of this amount, $48.0 million was the result of certain securities in an unrealized loss position which the Company demonstrated intent to sell, and the charge represents a write-down to fair value as of the reporting date.  Additionally, the Company recorded $3.1 million of OTTI as a result of an adverse change in cash flows on certain securities.
	No OTTI was recorded for the three and nine months ended September 30, 2012. The decline in value of the remaining real estate securities is solely due to market conditions and not the quality of the assets. The remaining investments are not considered other than temporarily impaired because the Company currently has the ability and intent to hold the investments to maturity or for a period of time sufficient for a forecasted market price recovery up to or beyond the cost of the investments and the Company is not required to sell for regulatory or other reasons.
	All of the principal and interest payments on the Agency RMBS have an explicit guarantee by either an agency of the U.S. government or a U.S. government-sponsored enterprise.
	The following table details weighted average life by Agency RMBS, Agency Interest-Only (“IO”) and Other Securities as of September 30, 2013:
		Agency RMBS								Agency IO										Other Securities (1)
	Weighted Average Life (2)	Fair Value		Amortized Cost		Weighted				Fair Value			Amortized			Weighted				Fair Value			Amortized		Weighted
						Average							Cost			Average							Cost		Average
						Coupon										Coupon									Coupon
	Less than or equal to 1 year	$	-	$	-		-			$	6,864,808		$	6,966,019			4.5	%		$	50,106,408		$	50,260,798		3.4	%
	Greater than one year and less than or equal to five years		371,707,085		366,135,897		3.06	%			99,938,503			102,293,744			5.01	%			371,561,679			364,096,337		3.41	%
	Greater than five years and less than or equal to ten years		1,908,110,089		1,913,113,696		3.44	%			25,707,818			26,501,736			4.39	%			347,024,604			343,923,426		4.11	%
	Greater than ten years		334,703,949		340,057,256		3.58	%			-			-			-				25,356,286			24,961,237		5.23	%
	Total	$	2,614,521,123	$	2,619,306,849		3.41	%		$	132,511,129		$	135,761,499			4.87	%		$	794,048,977		$	783,241,798		3.76	%
	(1) For purposes of this table, Other Securities represents  the following Credit Investments held as of September 30, 2013, Non-Agency RMBS, ABS, CMBS and Interest Only.
	(2) Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities.  Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.
	The following table details weighted average life by Agency RMBS, Agency IO and Other Securities as of December 31, 2012:
		Agency RMBS								Agency IO										Other Securities (1)
Weighted Average Life (2)	Fair Value		Amortized Cost		Weighted				Fair Value			Amortized			Weighted				Fair Value			Amortized		Weighted
					Average							Cost			Average							Cost		Average
					Coupon										Coupon									Coupon (3)
Less than or equal to 1 year	$	-	$	-		-			$	-		$	-			-			$	3,748,025		$	3,759,750		0.75	%
Greater than one year and less than or equal to five years		868,542,200		846,760,882		2.97	%			166,406,425			165,968,688			6.03	%			374,224,663			368,468,808		2.94	%
Greater than five years and less than or equal to ten years		2,458,784,128		2,424,996,350		3.58	%			41,211,988			43,233,067			5.91	%			354,247,135			351,908,850		5.16	%
Greater than ten years		250,922,410		249,834,748		3.13	%			-			-			-				18,941,806			18,934,995		1.12	%
Total	$	3,578,248,738	$	3,521,591,980		3.4	%		$	207,618,413		$	209,201,755			6	%		$	751,161,629		$	743,072,403		3.54	%
(1) For purposes of this table, Other Securities represents the following Credit Investments held as of December 31, 2012, Non-Agency RMBS, ABS, CMBS and Interest Only.
(2) Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities.  Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.
(3) Equity residual investments with a zero coupon rate are excluded from this calculation.
During the three months ended September 30, 2013, the Company sold 90 securities for total proceeds of $1.6 billion, with an additional $106.2 million of proceeds on three unsettled security sales as of quarter end, recording realized gains of $4.3 million and realized losses of $39.2 million, respectively. For the nine months ended September 30, 2013, the Company sold 155 securities, inclusive of unsettled security sales, for proceeds of $3.0 billion received by the Company and $106.2 million receivable on unsettled security sales as of September 30, 2013. The Company recorded realized gains of $17.1 million and realized losses of $73.4 million, inclusive of related tax provisions. During the nine months ended September 30, 2013, the Company received $96.3 million for the sale of three securities that were unsettled as of December 31, 2012.  See Notes 4 and 7 for amounts realized on sales of loans and the settlement of certain derivatives, respectively.
During the three months ended September 30, 2012, the Company sold four securities for total proceeds of $284.1 million, with an additional $11.1 million of proceeds on one unsettled security sale as of quarter end, recording realized gains of $2.0 million and realized losses of $0.1 million. For the nine months ended September 30, 2012, the Company sold twenty-four securities for total proceeds of $733.7 million, inclusive of the one unsettled security sale mentioned above as of September 30, 2012, recording realized gains of $11.3 million and realized losses of $1.8 million. See Note 7 for amounts realized on settlement of certain derivatives.
During the nine months ended September 30, 2013, the Company invested in credit sensitive commercial real estate assets through affiliated entities, and applies the equity method of accounting for such investments. As of September 30, 2013, the investments have a fair market value of $16.1 million and a weighted average yield of 12.43%. The Company has presented this investment separately on the consolidated balance sheet in the “Investment in affiliates” line item, and statement of operations as a component of “Equity in earnings from affiliate.”

Loans

Loans	9 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
Financing Receivables [Text Block]	'
	4. Loans
	The following tables present the current principal balance, premium or discount, amortized cost, gross unrealized gain, gross unrealized loss, fair market value, coupon rate and effective yield of the Company’s loan portfolio at September 30, 2013 and December 31, 2012.
	The following table details the loan portfolio as of September 30, 2013:
								Gross Unrealized (1)						Weighted Average
			Current Face		Premium		Amortized Cost		Gains		Losses		Fair Value	Coupon			Yield			Life
					(Discount)
	Commerical Loans	$	30,000,000	$	176,568	$	30,176,568	$	-	$	-176,568	$	30,000,000	9	%		9.87	%		2.81
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our loan portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain/(loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	The following table details the loan portfolio as of December 31, 2012:
								Gross Unrealized (1)						Weighted Average
		Current Face		Premium		Amortized Cost		Gains		Losses		Fair Value		Coupon		Yield			Life
				(Discount)
	Commerical Loans	$	2,500,000	$	-	$	2,500,000	$	-	$	-	$	2,500,000	9.63	%		9.63	%		3.51
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our loan portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain/(loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	During the nine months ended September 30, 2013, the Company sold one loan for total proceeds of $2.6 million, recording realized gains of $0.1 million and no realized losses. The Company did not have any loans during the nine months ended September 30, 2012.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	5. Fair Value Measurements
	As described in Note 2, the fair value of financial instruments that are recorded at fair value will be determined by the Manager, subject to oversight of the Company’s board of directors, and in accordance with ASC 820, “Fair Value Measurements and Disclosures.” When possible, the Company determines fair value using independent data sources. ASC 820 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under ASC 820 are described below:
	•      Level 1 – Quoted prices in active markets for identical assets or liabilities.
	•      Level 2 – Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
	•      Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Company’s assumptions about the factors that market participants would use in pricing an asset or liability, and would be based on the best information available.
	Values for the Company’s securities, derivatives and loan portfolios are based upon prices obtained from third party pricing services, which are indicative of market activity. The evaluation methodology of the Company’s third-party pricing services incorporates commonly used market pricing methods, including a spread measurement to various indices such as the one-year constant maturity treasury and LIBOR, which are observable inputs. The evaluation also considers the underlying characteristics of each investment, which are also observable inputs, including: coupon; maturity date; loan age; reset date; collateral type; periodic and life cap; geography; and prepayment speeds. The Company collects and considers current market intelligence on all major markets, including benchmark security evaluations and bid-lists from various sources, when available. As part of the Company’s risk management process, the Company reviews and analyzes all prices obtained by comparing prices to recently completed transactions involving the same or similar investments on or near the reporting date. If, in the opinion of the Manager, one or more prices reported to the Company are not reliable or unavailable, the Manager reviews the fair value based on characteristics of the investment it receives from the issuer and available market information.
	In valuing its derivatives, the Company considers the creditworthiness of both the Company and its counterparties, along with collateral provisions contained in each derivative agreement, from the perspective of both the Company and its counterparties. All of the Company’s derivatives are either subject to bilateral collateral arrangements or clearing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd Frank Act”). For its derivatives subject to bilateral collateral arrangements, the Company has netting arrangements in place with all derivative counterparties pursuant to standard documentation developed by the International Swap and Derivatives Association (“ISDA”). For swaps cleared under the Dodd Frank Act, a CCP now stands between the Company and its over-the-counter derivative counterparties. In order to access clearing, the Company has entered into clearing agreements with FCMs.  The Company is permitted to net all exposure with a common CCP and FCM. Consequently, no credit valuation adjustment was made in determining the fair value of the Company’s derivatives.
	The Manager may also engage specialized third party valuation service providers to assess and corroborate the valuation of a selection of investments in the Company’s loan portfolio on a periodic basis. These specialized third party valuation service providers conduct independent valuation analyses based on a review of source documents, available market data, and comparable investments. The analyses provided by valuation service providers are reviewed and considered by the Manager.
	The securities underlying the Company’s linked transactions are valued using similar techniques to those used for the Company’s securities portfolio. The value of the underlying security is then netted against the carrying amount (which approximates fair value) of the repurchase agreement at the valuation date. Additionally, TBA instruments are similar in form to the Company’s Agency RMBS portfolio, and the Company therefore estimates fair value based on similar methods.
	The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of September 30, 2013:
			Fair Value at September 30, 2013
				Level 1			Level 2			Level 3		Total
	Assets:
	Agency RMBS:
	15 Year Fixed Rate		$	-		$	605,801,659		$	-	$	605,801,659
	20 Year Fixed Rate			-			329,548,776			-		329,548,776
	30 Year Fixed Rate			-			1,175,209,555			-		1,175,209,555
	ARM			-			503,961,133			-		503,961,133
	Interest Only			-			132,511,129			-		132,511,129
	Credit Investments:											-
	Non-Agency RMBS			-			460,961,995			169,072,948		630,034,943
	ABS			-			-			99,344,323		99,344,323
	CMBS			-			30,829,391			27,343,899		58,173,290
	Interest Only			-			-			6,496,421		6,496,421
	Commercial loans			-			-			30,000,000		30,000,000
	Linked transactions			-			43,974,159			7,111,753		51,085,912
	Derivative assets						31,970,483			-		31,970,483
	Total Assets Carried at Fair Value		$			$	3,314,768,280		$	339,369,344	$	3,654,137,624
	Liabilities:
	Obligation to return securities borrowed under reverse repurchase agreements		$	-50,025,781		$	-		$	-	$	-50,025,781
	Derivative liabilities			-			-3,477,340			-		-3,477,340
	Total Liabilities Carried at Fair Value		$	-50,025,781		$	-3,477,340		$	-	$	-53,503,121
	The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2012:
			Fair Value at December 31, 2012
			Level 1			Level 2			Level 3		Total
	Assets:
	Agency RMBS:
	15 Year Fixed Rate		$	-		$	1,248,210,196		$	-	$	1,248,210,196
	20 Year Fixed Rate			-			148,124,694			-		148,124,694
	30 Year Fixed Rate			-			2,143,738,095			-		2,143,738,095
	ARM			-			38,175,754			-		38,175,754
	Interest Only			-			207,618,412			-		207,618,412
	Credit Investments:
	Non-Agency RMBS			-			297,127,840			255,043,557		552,171,397
	ABS			-			-			33,937,097		33,937,097
	CMBS			-			63,249,824			34,066,710		97,316,534
	Interest Only			-			67,736,601			-		67,736,601
	Commercial Mortgage Loans			-			2,500,000			-		2,500,000
	Linked transactions			-			38,617,525			6,505,299		45,122,824
	Total Assets Carried at Fair Value		$	-		$	4,255,098,941		$	329,552,663	$	4,584,651,604
	Liabilities:
	Derivative liabilities		$	-		$	-36,375,947		$	-	$	-36,375,947
	Total Liabilities Carried at Fair Value		$	-		$	-36,375,947		$	-	$	-36,375,947
	The Company did not have any transfers of assets or liabilities between Levels 1 and 2 of the fair value hierarchy during the three and nine months ended September 30, 2013 and September 30, 2012.
	The following tables present additional information about the Company’s investments which are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value:
	Three Months Ended
	30-Sep-13
			Non-Agency			ABS			CMBS		Interest Only		Commercial		Linked
			RMBS										Loans		Transactions
	Beginning balance		$	217,503,196		$	97,916,107		$	22,779,730	$	6,592,026	$	30,000,000	$	6,089,083
	Transfers (1):
	Transfers into level 3			-			-			-		-		-		-
	Transfers out of level 3			-			-			-		-		-		-
Purchases			14,967,242			11,610,000			4,462,500		-		-		2,674,853
Reclassification of security type (2)			-			-			-		-		-		-
Proceeds from sales			-57,972,354			-			-		-		-		-567,000
Proceeds from settlement			-2,427,774			-11,487,436			-		-		-		-1,116,717
Total net gains/(losses) (3)
Included in net income			-2,997,362			1,305,652			101,669		-95,605		-		31,534
Included in other comprehensive income (loss)			-			-			-		-		-		-
Ending Balance		$	169,072,948		$	99,344,323		$	27,343,899	$	6,496,421	$	30,000,000	$	7,111,753
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2013 (4)		$	-1,972,852		$	1,305,652		$	93,343	$	47,010	$	-	$	50,778
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	152,946
Unrealized gain/(loss) on real estate securities and loans, net			-530,032
Interest income			37,573
Net realized gain/(loss)			-1,314,599
Total		$	-1,654,112
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	50,778
Unrealized gain/(loss) on real estate securities and loans, net			-526,847
Total		$	-476,069
Three Months Ended
30-Sep-12
		Non-Agency			ABS			CMBS		Linked
		RMBS								Transactions
Beginning balance		$	54,922,912		$	13,509,441		$	7,509,275	$	15,107,657
Transfers (1):
Transfers into level 3			-			-			-		-
Transfers out of level 3			-			-			-		-
Purchases			36,414,561			17,824,181			22,441,133		19,459,549
Reclassification of security type (2)			71,069,657						45,265,490		-23,016,762
Proceeds from sales			-			-			-		-2,004,063
Proceeds from settlement			-7,752,426			-			-6,296,687		-1,349,363
Total net gains/ (losses) (3)
Included in net income			-57,427			2,479			1,003,769		196,656
Included in other comprehensive income (loss)			-			-			-		-
Ending Balance		$	154,597,277		$	31,336,101		$	69,922,980	$	8,393,674
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2012 (4)		$	-57,427		$	2,479		$	1,003,769	$	192,593
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	196,656
Unrealized gain/(loss) on real estate securities and loans, net			952,706
Interest income			-3,885
Total		$	1,145,477
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	192,593
Unrealized gain/(loss) on real estate securities and loans, net			952,706
Interest income			-3,885
Total		$	1,141,414
Nine Months Ended
30-Sep-13
		Non-Agency			ABS			CMBS		Interest Only		Commercial		Linked
		RMBS										Loans		Transactions
Beginning balance		$	255,043,557		$	33,937,097		$	34,066,710	$	-	$	-	$	6,425,683
Transfers (1):
Transfers into level 3			-			-			-		-		-		-
Transfers out of level 3			-			-			-		-		-		-
Purchases			112,712,253			139,603,404			4,462,500		7,048,720		30,017,825		5,333,022
Reclassification of security type (2)			-			-			-		-		-		-
Proceeds from sales			-185,283,901			-41,105,832			-10,041,297		-		-		-567,000
Proceeds from settlement			-14,815,085			-32,076,184			-58,631		-		-		-3,512,076
Total net gains/(losses) (3)
Included in net income			1,416,124			-1,014,162			-1,085,383		-552,299		-17,825		-567,876
Included in other comprehensive income (loss)			-			-			-		-		-		-
Ending Balance		$	169,072,948		$	99,344,323		$	27,343,899	$	6,496,421	$	30,000,000	$	7,111,753
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2013 (4)		$	-1,206,175		$	-782,493		$	-730,024	$	-213,915	$	-17,825	$	-664,102
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	-489,068
Unrealized gain/(loss) on real estate securities and loans, net			-4,713,939
Interest income			475,040
Net realized gain/ (loss)			2,906,546
Total		$	-1,821,421
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	-664,102
Unrealized gain/(loss) on real estate securities and loans, net			-2,950,432
Total		$	-3,614,534
Nine Months Ended
30-Sep-12
		Non-Agency			ABS			CMBS		Linked
		RMBS								Transactions
Beginning balance		$	28,407,005		$	4,526,620		$	-	$	5,277,317
Transfers (1):
Transfers into level 3			-			-			-		-
Transfers out of level 3			-			-					-
Purchases			74,924,292			41,328,345			32,166,758		86,418,809
Reclassification of security type (2)			71,069,657			-			45,265,490		-23,016,762
Proceeds from sales			-			-			-		-2,004,063
Proceeds from settlement			-19,766,596			-15,092,531			-8,553,875		-59,858,923
Total net gains/ (losses) (3)
Included in net income			-37,081			573,667			1,044,607		1,577,296
Included in other comprehensive income (loss)			-			-			-		-
Ending Balance		$	154,597,277		$	31,336,101		$	69,922,980	$	8,393,674
									-
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2012 (4)		$	-37,080		$	12,660		$	1,044,608	$	397,873
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	1,577,296
Unrealized gain/(loss) on real estate securities and loans, net			1,622,980
Interest income			-41,787
Total		$	3,158,489
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	397,873
Unrealized gain/(loss) on real estate securities and loans, net			1,066,657
Interest income			-46,470
Total		$	1,418,060
The Company did not have any transfers of assets or liabilities in or out of Level 3 of the fair value hierarchy during the three and nine months ended September 30, 2013 and September 30, 2012.
The following tables present a summary of quantitative information about the significant unobservable inputs used in the fair value measurement of investments for which the Company has utilized Level 3 inputs to determine fair value:
Asset Class	Fair Value at			Valuation Technique	Unobservable Input	Range
	September 30,					(Weighted Average)
	2013
					Yield	3.35% - 7.90% (4.97%)
Non Agency RMBS		$	169,072,948	Discounted Cash Flow	Projected Collateral Prepayments	3.50% - 6.00% (4.13%)
					Projected Collateral Losses	0.50% - 9.00% (1.78%)
					Projected Collateral Severities	20.00% - 80.00% (67.03%)
ABS		$	99,344,323	Discounted Cash Flow	Yield	3.69% - 5.40% (3.91%)
					Yield	4.00% - 7.62% (5.55%)
CMBS		$	27,343,899	Discounted Cash Flow	Projected Collateral Prepayments	0.00% - 0.00% (0.00%)
					Projected Collateral Losses	0.00% - 0.00% (0.00%)
					Projected Collateral Severities	0.00% - 0.00% (0.00%)
					Yield	6.16% - 6.21% (6.20%)
Interes t Only		$	6,496,421	Discounted Cash Flow	Projected Collateral Prepayments	100.00% - 100.00% (100.00%)
					Projected Collateral Losses	0.00% - 0.00% (0.00%)
					Projected Collateral Severities	0.00% - 0.00% (0.00%)
Commercial Loans		$	30,000,000	Discounted Cash Flow	Yield	9.87% - 9.87% (9.87%)
					Yield	4.95% - 7.62% (5.81%)
					Projected Collateral Prepayments	0.00% - 5.00% (1.17%)
Linked Trans actions *		$	7,111,753	Discounted Cash Flow	Projected Collateral Losses	0.00% - 5.00% (1.17%)
					Projected Collateral Severities	0.00% - 70.00% (16.36%)
*Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.
Asset Class		Fair Value at			Valuation Technique		Unobservable Input		Range
		December 31,							(Weighted Average)
		2012
							Yield		4.43% -  9.60%   (5.90%)
Non-Agency RMBS		$	255,043,557		Discounted Cash Flow		Projected Collateral Prepayments		1.00% -  9.00%   (4.41%)
							Projected Collateral Losses		0.20% -  16.00%   (2.03%)
							Projected Collateral Severities		40.00% -  75.00%   (55.27%)
							Yield		4.66% - 7.05%   (5.77%)
ABS		$	33,937,097		Discounted Cash Flow		Projected Collateral Prepayments		20.00% -  100.00%   (59.72%)
							Projected Collateral Losses		0.00% - 0.00%   (0.00%)
							Projected Collateral Severities		0.00% -  0.00%   (0.00%)
							Yield		2.23% -  5.76%   (5.05%)
CMBS		$	34,066,710		Discounted Cash Flow		Projected Collateral Prepayments		0.00% -  0.00%   (0.00%)
							Projected Collateral Losses		0.00% - 0.00%   (0.00%)
							Projected Collateral Severities		0.00% - 0.00%   (0.00%)
							Yield		4.14% -  10.93%   (5.59%)
Linked Transactions*		$	6,505,299		Discounted Cash Flow		Projected Collateral Prepayments		0.00% -  25.00%   (0.94%)
							Projected Collateral Losses		0.00% -  35.00%   (16.25%)
							Projected Collateral Severities		0.00% - 65.00%   (34.32%)
*Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.
As further described above, values for the Company’s securities portfolio are based upon prices obtained from third party pricing services. Broker quotations may also be used. The significant unobservable inputs used in the fair value measurement of the Company’s Non-Agency RMBS and CMBS securities classified as a component of Linked Transactions are prepayment rates, probability of default, and loss severity in the event of default. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumption used for prepayment rates.
Also as described above, valuation of the Company’s loan portfolio is determined by the Manager using third-party pricing services where available, and specialized third party valuation service providers. The evaluation considers the underlying characteristics of each loan, which are observable inputs, including: coupon; maturity date, loan age, reset date, collateral type, periodic and life cap, geography, and prepayment speeds. These valuations also require significant judgments, which include assumptions regarding capitalization rates, leasing, creditworthiness of major tenants, occupancy rates, availability of financing, exit plan, loan sponsorship, actions of other lenders and other factors deemed necessary by management. Changes in the market environment and other events that may occur over the life of our investments may cause the gains or losses ultimately realized on these investments to be different than the valuations currently estimated. Analyses provided by valuation service providers are reviewed and considered by the Manager.

Repurchase_Agreements

Repurchase Agreements	9 Months Ended
	Sep. 30, 2013
Disclosure Of Repurchase Agreements [Abstract]	'
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]	'
	6. Repurchase Agreements
	The Company pledges certain real estate securities as collateral under repurchase agreements with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. Repurchase agreements involve the sale and a simultaneous agreement to repurchase the transferred assets or similar assets at a future date. The amount borrowed generally is equal to the fair value of the assets pledged less an agreed-upon discount, referred to as a “haircut.” Repurchase agreements entered into by the Company are accounted for as financings and require the repurchase of the transferred securities at the end of each agreement’s term, typically 30 to 90 days. The carrying amount of the Company’s repurchase agreements approximates fair value as the debt is short-term in nature. The Company maintains the beneficial interest in the specific securities pledged during the term of the repurchase agreement and receives the related principal and interest payments. Interest rates on these borrowings are fixed based on prevailing rates corresponding to the terms of the borrowings, and interest is paid at the termination of the repurchase agreement at which time the Company may enter into a new repurchase agreement at prevailing market rates with the same counterparty or repay that counterparty and negotiate financing with a different counterparty. In response to declines in fair value of pledged securities due to changes in market conditions or the publishing of monthly security paydown factors, lenders typically require the Company to post additional securities as collateral, pay down borrowings or establish cash margin accounts with the counterparties in order to re-establish the agreed-upon collateral requirements, referred to as margin calls. Under the terms of the Company’s master repurchase agreements, the counterparties may, in certain cases, sell or re-hypothecate the pledged collateral.
	The following table presents certain information regarding the Company’s repurchase agreements as of September 30, 2013:
	Repurchase Agreements			Weighted		Weighted Average
	Maturing Within:	Balance		Average Rate		Haircut
	30 days or less	$	1,331,373,000	0.84	%	11.53	%
	31-60 days		858,497,000	0.46	%	6.39	%
	61-90 days		206,089,000	0.42	%	7.63	%
	Greater than 90 days		569,136,409	0.77	%	4.36	%
	Total / Weighted Average	$	2,965,095,409	0.69	%	8.4	%
	The following table presents certain information regarding the Company’s repurchase agreements as of December 31, 2012:
	Repurchase Agreements			Weighted		Weighted Average
	Maturing Within:	Balance		Average Rate		Haircut
	30 days or less	$	2,242,856,547	0.71	%	7.28	%
	31-60 days		783,969,000	0.52	%	4.04	%
	61-90 days		547,416,000	0.57	%	3.49	%
	Greater than 90 days		337,178,271	1.3	%	11.95	%
	Total / Weighted Average	$	3,911,419,818	0.7	%	6.5	%
	Although repurchase agreements are committed borrowings until maturity, the lender retains the right to mark the underlying collateral to fair value. A reduction in the value of pledged assets resulting from changes in market conditions or factor changes would require the Company to provide additional collateral or cash to fund margin calls. The following table presents information with respect to the Company’s posting of collateral at September 30, 2013 and December 31, 2012:
		30-Sep-13		31-Dec-12
	Repurchase agreements secured by Agency RMBS	$	2,373,094,000	$	3,346,676,000
	Fair Value of Agency RMBS pledged as collateral under repurchase agreements		2,551,904,769		3,489,393,062
	Repurchase agreements secured by Non-Agency RMBS, ABS and CMBS		592,001,409		564,743,818
	Fair Value of Non-Agency RMBS, ABS and CMBS pledged as collateral under repurchase agreements		773,074,747		711,699,379
	Net cash pledged (i.e., restricted cash) under repurchase agreements		82,709		1,500,000
	The following table presents both gross information and net information about repurchase agreements eligible for offset in the statement of financial position as of September 30, 2013:
								Gross Amounts Not Offset in the
								Statement of Financial Position
	Description	Gross Amounts of		Gross Amounts Offset		Net Amounts of Liabilities		Financial		Cash Collateral		Net Amount
		Recognized		in the Statement of		Presented in the Statement of		Instruments		Posted
		Liabilities		Financial Position		Financial Position		Posted
	Repurchase Agreements		2,965,095,409		-		2,965,095,409		2,965,095,409		-		-
	The following table presents both gross information and net information about repurchase agreements eligible for offset in the statement of financial position as of December 31, 2012:
									Gross Amounts Not Offset in the
									Statement of Financial Position
	Description	Gross Amounts of		Gross Amounts Offset		Net Amounts of Liabilities		Financial		Cash Collateral		Net Amount
		Recognized		in the Statement of		Presented in the Statement of		Instruments		Posted
		Liabilities		Financial Position		Financial Position		Posted
	Repurchase Agreements	$	3,911,419,818	$	-	$	3,911,419,818	$	3,911,419,818	$	-	$	-
	The Company seeks to transact with several different counterparties in order to reduce the exposure to any single counterparty. The Company has entered into master repurchase agreements (“MRAs”) with 30 counterparties, under which it had outstanding debt with 28 and 29 counterparties at September 30, 2013 and December 31, 2012, respectively. At September 30, 2013 and December 31, 2012, the Company did not have greater than 10% of stockholders’ equity at risk with any individual counterparty.
	On April 9, 2012, AG MIT, LLC (“AG MIT”), a direct, wholly-owned subsidiary of the Company, entered into a Master Repurchase and Securities Contract (the “Repurchase Agreement”) with Wells Fargo Bank, National Association to finance the Company’s acquisition of certain residential, Non-Agency RMBSs. Effective April 12, 2013, AG MIT entered into an Amended and Restated Master Repurchase and Securities Contract (the “Renewal Agreement”) to the Repurchase Agreement dated as of April 9, 2012. The Renewal Agreement was entered into for multiple purposes, including the amendment of the Repurchase Agreement to finance AG MIT’s acquisition of not only residential, non-Agency Securities, but also certain consumer asset-backed securities and commercial mortgage-backed securities. Each transaction under the Renewal Agreement will also have its own specific terms, such as identification of the assets subject to the transaction, sale price, repurchase price and rate. The Renewal Agreement increases the aggregate maximum borrowing capacity of the Repurchase Agreement from $75 million to $125 million and extends the maturity date from April 8, 2013 to April 11, 2014. The Renewal Agreement also includes the same provisions in the Repurchase Agreement permitting the maturity date to be extended for an additional 90 days.
	The Renewal Agreement contains representations, warranties, covenants, events of default and indemnities that are substantially identical to those in the Repurchase Agreement and are customary for agreements of this type. The Renewal Agreement also contains amended financial covenants that require, as of the last business day of each quarter and on any funding date, the Company and AG MIT to maintain (i) their Total Indebtedness to their Adjusted Tangible Net Worth at a ratio less than the Leverage Ratio; (ii) an Adjusted Tangible Net Worth of not less than $430 million; and (iii) at all times, Liquidity of not less than $30 million and unrestricted cash of not less than $5 million.
	As discussed in Note 2, for any transactions determined to be linked, the initial transfer and repurchase financing will be recorded as a forward commitment to purchase assets. At September 30, 2013 and December 31, 2012, the Company had repurchase agreements of $229.3 million and $282.3 million, respectively, that were accounted for as linked. These linked repurchase agreements are not included in the above tables. See Note 7 for details.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2013
Derivatives [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	7. Derivatives
	The Company's derivatives currently include interest rate swaps (“swaps”), to-be-announced forward contracts on specified Agency pools (“TBAs”), and linked transactions. Derivatives have not been designated as hedging instruments. The Company has also entered into non-derivative instruments to manage interest rate risk, including Agency IO securities and short positions in U.S. Treasury securities.
	The following table presents the fair value of the Company's derivative instruments and their balance sheet location at September 30, 2013 and December 31, 2012.
	Derivative Instrument		Designation		Balance Sheet Location			September 30, 2013			December 31, 2012
	Interest rate swaps, at fair value			Non-Hedge		Derivative liabilities, at fair value		$	-1,856,442		$	-36,238,250
	Interest rate swaps, at fair value			Non-Hedge		Derivative assets, at fair value			31,686,108			-
	TBAs			Non-Hedge		Derivative liabilities, at fair value			-1,620,898			-137,697
	TBAs			Non-Hedge		Derivative assets, at fair value			284,375			-
	Linked transactions, at fair value			Non-Hedge		Linked transactions, net, at fair value			51,085,912			45,122,824
	The following table summarizes information related to derivatives:
			September 30, 2013		December 31, 2012
	Non-hedge derivatives
	Notional amount of Interest Rate Swap Agreements (1)		$	2,643,000,000	$	2,166,025,000
	Net notional amount of TBAs			25,000,000		40,000,000
	Notional amount of Linked Transactions (2)			311,676,369		349,775,342
	(1) Includes forward starting swaps with a notional of $25.0 million and $100.0 million as of September 30, 2013 and December 31, 2012, respectively.
	(2) Represents the current face of the securities comprising linked transactions.
	The following table summarizes gains/(losses) related to derivatives:
					Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
			Income Statement Location		September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
	Non-hedge derivatives gain/(loss):
	Interest rate swaps			Unrealized gain/(loss) on derivative and other instruments, net	$	-5,700,547		$	-13,734,963		$	69,649,295		$	-26,251,451
	Interest rate swaps			Net realized gain/(loss)		-2,207,074			-65,012			-9,294,517			-332,127
	TBAs			Unrealized gain/(loss) on derivative and other instruments, net		1,022,755			363,477			-1,198,828			-541,682
	TBAs			Net realized gain/(loss)		153,578			-353,516			-423,571			1,363,750
	Linked transactions			Gain on linked transactions, net		2,060,270			6,688,111			6,558,879			13,492,268
	Linked transactions			Net realized gain/(loss)		-2,580,055			2,611,936			-4,262,338			3,605,358
	The following table presents both gross information and net information about derivative and other instruments eligible for offset in the statement of financial position as of September 30, 2013:
											Gross Amounts Not Offset in the
											Statement of Financial Position
	Description		Gross Amounts of		Gross Amounts Offset			Net Amounts of Assets			Financial			Cash Collateral		Net Amount
			Recognized		in the			(Liabilities) Presented in the			Instruments			(Posted)/Received
			Assets (Liabilities)		Statement of			Statement of Financial Position			(Posted)
					Financial Position
	Linked Transactions (1)		$	279,655,499	$	-229,265,000		$	50,390,499		$	50,390,499		$	-	$	-
	Receivable Under Reverse		$	50,125,000	$	-		$	50,125,000		$	50,025,781		$	-	$	99,219
	Repurchase Agreements
	Derivative Assets (2)
	Interest Rate Swaps		$	43,102,018	$	-3,143,638		$	39,958,380		$	-		$	16,290,000	$	23,668,380
	TBAs			284,375		-			284,375			-			280,000		4,375
	Total Derivative Assets		$	43,386,393	$	-3,143,638		$	40,242,755		$	-		$	16,570,000	$	23,672,755
	Derivative Liabilities (3)
	Interest Rate Swaps		$	-1,610,997	$	861,650		$	-749,347		$	-		$	-749,347	$	-
	TBAs			-3,529,882		1,908,984			-1,620,898			-1,620,898			-		-
	Total Derivative Liabilities		$	-5,140,879	$	2,770,634		$	-2,370,245		$	-1,620,898		$	-749,347	$	-
	(1) Included in Linked Transactions on the consolidated balance sheet is security fair market value of $279,655,499, repurchase agreements of $(229,265,000) and net accrued interest of $695,413 for a total of $51,085,912.
	(2) Included in Derivative Assets on the consolidated balance sheet is $40,242,755 less accrued interest of $(8,272,272) for a total of $31,970,483.
	(3) Included in Derivative Liabilities on the consolidated balance sheet is $(2,370,245) plus accrued interest of $(1,107,095) for a total of $(3,477,340).
	The following table presents both gross information and net information about derivative instruments eligible for offset in the statement of financial position as of December 31, 2012:
											Gross Amounts Not Offset in the
											Statement of Financial Position
	Description		Gross Amounts of		Gross Amounts Offset			Net Amounts of (Liabilities)			Financial			Cash Collateral		Net Amount
			Recognized		in the			Presented in the Statement of			Instruments			(Posted)
			(Liabilities)		Statement of			Financial Position			(Posted)
					Financial Position
	Linked Transactions (1)		$	326,589,623	$	-282,343,454		$	44,246,169		$	-		$	-	$	-
	Derivative Liabilities (2)
	Interest Rate Swaps		$	-30,698,913	$	258,652		$	-30,440,261		$	-30,440,261		$	-	$	-
	TBAs			-137,696		-		$	-137,696			-			-		-
	Total Derivative Liabilities		$	-30,836,609	$	258,652		$	-30,577,957		$	-30,440,261		$	-	$	-
	(1) Included in Linked Transactions on the consolidated balance sheet is security fair market value of $326,589,623, repurchase agreements of $(282,343,454) and net accrued interest of $876,655 for a total of $45,122,824.
	(2) Included in Derivative Liabilities on the consolidated balance sheet is $(30,577,957) less accrued interest of $(5,797,990) for a total of $(36,375,947).
	Interest Rate Swaps
To help mitigate exposure to higher short-term interest rates, the Company uses currently-paying and forward-starting, one- and three-month LIBOR-indexed, pay-fixed, receive-variable, interest rate swap agreements. This arrangement establishes a relatively stable fixed rate on related borrowings because the variable-rate payments received on the swap agreements largely offset interest accruing on the related borrowings, leaving the fixed-rate payments to be paid on the swap agreements as the Company’s effective borrowing rate, subject to certain adjustments including changes in spreads between variable rates on the swap agreements and actual borrowing rates.
The following table presents information about the Company’s interest rate swaps as of September 30, 2013:
Maturity		Notional Amount		Weighted Average				Weighted Average				Weighted Average
				Pay Rate				Receive Rate				Years to Maturity
2016		$	180,000,000		0.9	%			0.26	%			2.71
2017			335,000,000		1.05	%			0.26	%			3.95
2018			818,000,000		1.28	%			0.26	%			4.67
2019			350,000,000		1.38	%			0.26	%			5.8
2020			665,000,000		1.7	%			0.26	%			6.56
2022			50,000,000		1.69	%			0.26	%			8.93
2023		*	245,000,000		2.37	%			0.26	%			9.71
Total/Wtd Avg		$	2,643,000,000		1.45	%			0.26	%			5.62
* This figure includes a forward starting swap with a total notional of $25.0 million and a start date of October 1, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of September 30, 2013.
The following table presents information about the Company’s interest rate swaps as of December 31, 2012:
Maturity		Notional Amount		Weighted Average				Weighted Average				Weighted Average
				Pay Rate				Receive Rate				Years to Maturity
2014		$	204,500,000		1	%			0.33	%			1.54
2015			364,025,000		1.08	%			0.3	%			2.42
2016			367,500,000		1.08	%			0.3	%			3.36
2017			410,000,000		1.02	%			0.31	%			4.7
2018	*		320,000,000		1.31	%			0.31	%			5.56
2019	*		450,000,000		1.39	%			0.31	%			6.56
2022			50,000,000		1.69	%			0.31	%			9.68
Total/Wtd Avg		$	2,166,025,000		1.17	%			0.31	%			4.42
* These figures include forward starting swaps with a total notional of $100.0 million and a weighted average start date of April 2, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of December 31, 2012.
TBAs
The Company has entered into TBA positions to facilitate the future purchase or sale of specified Agency RMBS. Pursuant to these TBAs, the Company agrees to purchase or sell, for future delivery, Agency RMBS with certain principal and interest terms and certain types of underlying collateral, but the particular Agency RMBS to be delivered or received would not be identified until shortly, generally two days, before the TBA settlement date. The Company records TBA purchases and sales on the trade date and presents the purchase or sale net of the corresponding payable or receivable until the settlement date of the transaction. Contracts for the purchase or sale of specified Agency RMBS are accounted for as derivatives if the delivery of the specified Agency security and settlement extends beyond the shortest period possible for that type of security.
The following table presents information about the Company’s TBAs for the three and nine months ended September 30, 2013 and September 30, 2012:
For the Three Months Ended September 30, 2013
		Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net		Derivative		Derivative
		Notional					Settlement			Notional			as of Period End		Receivable		Asset		Liability
		Amount								Amount					from Broker
TBAs		$	-150,000,000	$	623,000,000		$	-498,000,000		$	-25,000,000		$	-24,431,640	$	23,095,117	$	284,375	$	-1,620,898
For the Three Months Ended September 30, 2012
		Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net Payable to		Derivative		Derivative
		Notional					Settlement			Notional			as of Period End		Broker		Asset		Liability
		Amount								Amount
TBAs		$	-	$	275,000,000		$	-275,000,000		$	-		$	-	$	363,477	$	2,936,328	$	-2,572,851
For the Nine Months Ended September 30, 2013
		Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net		Derivative		Derivative
		Notional					Settlement			Notional			as of Period End		Receivable		Asset		Liability
		Amount								Amount					from Broker
TBAs		$	40,000,000	$	1,543,000,000		$	-1,608,000,000		$	-25,000,000		$	-24,431,640	$	23,095,117	$	284,375	$	-1,620,898
For the Nine Months Ended September 30, 2012
		Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net Payable to		Derivative		Derivative
		Notional					Settlement			Notional			as of Period End		Broker		Asset		Liability
		Amount								Amount
TBAs		$	100,000,000	$	495,000,000		$	-595,000,000		$	-		$	-	$	363,477	$	2,936,328	$	-2,572,851
Linked Transactions
As discussed in Note 2, when the initial transfer of a financial asset and repurchase financing are entered into contemporaneously with, or in contemplation of, one another, the transaction will be considered linked unless all of the criteria found in ASC 860-10 are met at the inception of the transaction. If the transaction is determined to be linked, we will record the initial transfer and repurchase financing on a net basis and record a forward commitment to purchase assets as a derivative instrument with changes in market value being recorded on the consolidated statement of operations. When, or if a transaction is longer considered linked, the security and related repurchase agreement will be recorded on a gross basis. The fair value of linked transactions reflects the value of the underlying security’s fair market value netted with the respective linked repurchase agreement borrowings and net accrued interest. Certain of our Linked Transactions became unlinked during the periods presented. For the three and nine months ended September 30, 2013 Non-Agency RMBS with security fair values of $30.2 million and $43.4 million, respectively, and the related repurchase agreement borrowings of $24.1 million and $35.7 million, respectively, were unlinked, and the Company recorded net realized losses of $0.4 million and $0.1 million, respectively, from the unlinking of the Linked Transactions, respectively. For the three months ended September 30, 2012, Non-Agency RMBS and CMBS with a fair value of $118.8 million and $45.3 million, respectively, and related repurchase agreement borrowings secured by Non-Agency RMBS and CMBS of $97.2 million and $37.1 million, respectively, were unlinked. For the nine months ended September 30, 2012, Non-Agency RMBS and CMBS with a fair value of $125.7 million and $45.3 million, respectively, and related repurchase agreement borrowings secured by Non-Agency RMBS and CMBS of $102.4 million and $37.1 million, respectively, were unlinked. For the three and nine months ended September 30, 2012, the Company had net realized gains of $2.6 million from the unlinking of Linked Transactions.
The following table presents certain information related to the securities accounted for as a part of linked transactions for the three and nine months ended September 30, 2013:
													For the Three Months Ended September 30, 2013								For the Nine Months Ended September 30, 2013
Instrument		Current Face		Amortized			Fair Value			Net Accrued			Net		Unrealized		Net		Amount		Net		Unrealized		Net		Amount		Weighted			Weighted
				Cost						Interest			Interest		Gain/(Loss)		Realized		Included in		Interest		Gain/(Loss)		Realized		Included in		Average			Average
													Income				Gain/(Loss)		Statement of		Income				Gain/(Loss)		Statement of		Coupon			Life
																			Operations								Operations
Non-Agency RMBS		$	287,806,369	$	253,545,104		$	258,164,346		$	657,323		$	2,750,860	$	-1,095,697	$	-2,458,643	$	-803,480	$	9,969,921	$	-3,592,194	$	-4,060,548	$	2,317,179		4.09	%		4.85
CMBS			23,870,000		21,871,211			21,491,153			38,090			162,082		243,025		-121,412		283,695		487,843		-306,691		-201,790		-20,638		2.32	%		4.12
Total		$	311,676,369	$	275,416,315		$	279,655,499		$	695,413		$	2,912,942	$	-852,672	$	-2,580,055	$	-519,785	$	10,457,764	$	-3,898,885	$	-4,262,338	$	2,296,541		3.95	%		4.79
The following table presents certain information related to the securities accounted for as a part of linked transactions for the three and nine months ended September 30, 2012:
													For the Three Months Ended September 30, 2012								For the Nine Months Ended September 30, 2012
Instrument		Current Face		Amortized			Fair Value			Net Accrued			Net		Unrealized		Net		Amount		Net		Unrealized		Net		Amount		Weighted			Weighted
				Cost						Interest			Interest		Gain		Realized		Included in		Interest		Gain		Realized		Included in		Average			Average
													Income				Gain		Statement of		Income				Gain		Statement of		Coupon			Life
																			Operations								Operations
Non-Agency RMBS		$	399,457,214	$	367,050,519		$	371,859,013		$	1,118,677		$	2,709,109	$	3,129,536	$	950,769	$	6,789,414	$	5,970,888	$	5,837,405	$	902,747	$	12,711,040		4.76	%		6.32
ABS			-		-			-			-			-		-		-		-		230,160		61,870		1,041,444		1,333,474		-			-
CMBS			-		-			-			-			208,153		641,313		1,661,167		2,510,633		660,386		731,559		1,661,167		3,053,112		-			-
Total		$	399,457,214	$	367,050,519		$	371,859,013		$	1,118,677		$	2,917,262	$	3,770,849	$	2,611,936	$	9,300,047	$	6,861,434	$	6,630,834	$	3,605,358	$	17,097,626		4.76	%		6.32
The following table presents certain information related to the repurchase agreements accounted for as a part of linked transactions as of September 30, 2013:
Instrument		Repurchase		Weighted				Weighted
		Agreement		Average				Average Years
				Interest Rate				to Maturity
Non-Agency RMBS		$	213,681,000		1.91	%			0.07
CMBS			15,584,000		1.34	%			0.06
		$	229,265,000		1.87	%			0.07
The following table presents certain information related to the repurchase agreements accounted for as a part of linked transactions as of September 30, 2012:
Instrument		Repurchase		Weighted				Weighted
		Agreement		Average				Average Years
				Interest Rate				to Maturity
Non-Agency RMBS		$	274,292,769		1.82	%			0.05
		$	274,292,769		1.82	%			0.05
At September 30, 2013, the Company had real estate securities with a fair value of $7.3 million pledged as collateral against its derivatives and had $19.0 million of net cash received as collateral against its derivatives. The Company pledged assets accounted for within linked transactions with a fair value of $279.7 million as collateral against the related linked repurchase agreements. At September 30, 2012, the Company had real estate securities with a fair value of $46.5 million and restricted cash of $2.6 million pledged as collateral against its derivatives. The Company also pledged assets accounted for within linked transactions with a fair value of $371.9 million as collateral against the related linked repurchase agreements. The Company reduces credit risk on the majority of its derivative instruments by entering into agreements that permit the closeout and netting of transactions with the same counterparty or CCP/FCM upon occurrence of certain events.
Short positions in U.S. Treasury securities through reverse repurchase agreements
The Company has also sold short U.S. Treasury securities contracts to help mitigate the potential impact of changes in interest rates. As of September 30, 2013 the Company had obligations to return U.S. Treasury securities borrowed under reverse repurchase agreements accounted for as securities borrowing transactions with a fair value and notional amount of $50.0 million. This liability is presented as “Obligation to return securities borrowed under reverse repurchase agreements, at fair value” on the consolidated balance sheet. As of September 30, 2013, the U.S. Treasury securities had a weighted average maturity of 7.6 years. The borrowed securities were collateralized by cash loaned under reverse repurchase agreements of $50.1 million, which is presented as “Receivable under reverse repurchase agreements” on the consolidated balance sheet. As of September 30, 2013, the reverse repurchase agreements had a weighted average maturity of October 4, 2013. Changes in fair value of the borrowed securities are recorded in “Unrealized gain/(loss) on derivative and other instruments, net” line item in our consolidated statements of operations. During the three months ended September 30, 2013, the Company recorded unrealized losses of $1.1 million on the borrowed securities. Realized gains and losses are recorded on the “Net realized gain/(loss) line item in our consolidated statements of operations. During the three months ended September 30, 2013, the Company recorded $0.0 million of realized gains. The Company had no short positions in U.S. Treasury securities as of December 31, 2012.

Earnings_per_Share

Earnings per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	8. Earnings per Share
	Basic earnings per share (“EPS”) is calculated by dividing net income/(loss) available to common stockholders for the period by the weighted- average shares of the Company’s common stock outstanding for that period that participate in dividends. Diluted EPS takes into account the effect of dilutive instruments, such as stock options, warrants and unvested restricted stock, but uses the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding.
	As of September 30, 2013 and September 30, 2012, the Company’s outstanding warrants and unvested shares of restricted common stock were as follows:
		September 30, 2013		September 30, 2012
	Warrants	1,007,500		2,366,500
	Restricted stock granted to the Manager	13,418		26,834
	Restricted stock granted to the independent directors	2,500		4,000
	Each warrant entitles the holder to purchase half a share of the Company’s common stock at a fixed price upon exercise of the warrant.During the three and nine months ended September 30, 2013, the Company excluded the effects of such from the computation of diluted earnings per share because their effect would be anti-dilutive.  During the three and nine months ended September 30, 2012, the average market value per share of the Company's common stock was above the exercise price of the warrants, and therefore the warrants were included in the Company’s diluted weighted average shares outstanding in accordance with ASC 260. Shares of restricted stock held by the Manager and independent directors accrue dividends, but are not paid until vested and are therefore not considered to be participating shares. The dilutive effects of these shares are only included in diluted weighted average shares outstanding.
	The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the three and nine months ended September 30, 2013 and September 30, 2012:
		Three Months Ended			Three Months Ended		Nine Months Ended		Nine Months Ended
		September 30, 2013			September 30, 2012		September 30, 2013		September 30, 2012
	Numerator:
	Net income/(loss) available to common stockholders for basic and diluted earnings per share	$	2,633,165		$	60,430,279	$	-58,566,023	$	116,298,495
	Denominator:
	Basic weighted average common shares outstanding		28,359,937			19,336,154		27,906,946		16,439,100
	Dilutive effect of manager and director restricted stock and warrants		6			126,830		-		10,350
	Dilutive weighted average common shares outstanding		28,359,943			19,462,984		27,906,946		16,449,450
	Basic Earnings/(Loss) Per Share of Common Stock:	$	0.09		$	3.13	$	-2.1	$	7.07
	Diluted Earnings/(Loss) Per Share of Common Stock:	$	0.09		$	3.1	$	-2.1	$	7.07
	Excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were both Manager and director restricted stock and warrants of  61,215 for the nine months ended September 30, 2013.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Taxes [Abstract]	'
Income Tax Disclosure [Text Block]	'
	9. Income Taxes
	As a REIT, the Company is not subject to Federal income tax to the extent that it makes qualifying distributions to its stockholders, and provided it satisfies on a continuing basis, through actual investment and operating results, the REIT requirements including certain asset, income, distribution and stock ownership tests. Most states recognize REIT status as well.
	The Company files tax returns in several U.S jurisdictions. There are no ongoing U.S. federal, state and local tax examinations.
	The Company has elected to treat AG MIT II, LLC, AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC as TRSs and may elect to treat other subsidiaries as TRSs. In general, a TRS may hold assets and engage in activities that the Company cannot hold or engage in directly, and generally may engage in any real estate or non-real estate-related business. A TRS is subject to federal, state and local corporate income taxes. During the three and nine months ended September 30, 2013 the Company recognized an income tax provision of $0.1 million and $2.8 million related to the income and sale of investments held within AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC.
	Cash distributions declared by the Company that do not exceed its current or accumulated earnings and profits will be considered ordinary income to stockholders for income tax purposes unless all or a portion of a distribution is designated by the Company as a capital gain dividend. Distributions in excess of the Company’s current and accumulated earnings and profits will be characterized as return of capital or capital gains.
	Based on the Company’s analysis of any potential uncertain income tax positions, the Company concluded it did not have any uncertain tax positions that meet the recognition or measurement criteria of ASC 740 as of September 30, 2013 and December 31, 2012. The Company’s federal income tax return for the 2012 and 2011 tax years are open to examination by the Internal Revenue Service. In the event that the Company incurs income tax related interest and penalties, its policy is to classify them as a component of provision for income taxes.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	10. Related Party Transactions
	The Company has entered into a management agreement with the Manager, which provides for an initial term through June 30, 2014, and will be deemed renewed automatically each year for an additional one-year period, subject to certain termination rights. The Company is externally managed and advised by the Manager. Pursuant to the terms of the management agreement, which became effective July 6, 2011 (upon the consummation of the Company’s IPO), the Manager provides the Company with its management team, including its officers, along with appropriate support personnel. Each of the Company’s officers is an employee of Angelo, Gordon. The Company does not have any employees. The Manager, pursuant to a delegation agreement dated as of June 29, 2011, has delegated to Angelo, Gordon the overall responsibility its day-to-day duties and obligations arising under the Company’s management agreement.
	Management fee
	The Manager is entitled to a management fee equal to 1.50% per annum, calculated and paid quarterly, of the Company’s Stockholders’ Equity. For purposes of calculating the management fee, “Stockholders’ Equity” means the sum of the net proceeds from any issuances of equity securities (including preferred securities) since inception (allocated on a pro rata daily basis for such issuances during the fiscal quarter of any such issuance, and excluding any future equity issuance to the Manager), plus the Company’s retained earnings at the end of such quarter (without taking into account any non-cash equity compensation expense or other non-cash items described below incurred in current or prior periods), less any amount that the Company pays for repurchases of its common stock, excluding any unrealized gains, losses or other non-cash items that have impacted stockholders’ equity as reported in the Company’s financial statements prepared in accordance with GAAP, regardless of whether such items are included in other comprehensive income or loss, or in net income, and excluding one-time events pursuant to changes in GAAP, and certain other non-cash charges after discussions between the Manager and the Company’s independent directors and after approval by a majority of the Company’s independent directors. Stockholders’ Equity, for purposes of calculating the management fee, could be greater or less than the amount of stockholders’ equity shown on the Company’s financial statements.
	For the three and nine months ended September 30, 2013, the Company incurred management fees of approximately $2.5 million and $8.2 million, respectively. For the three and nine months ended September 30, 2012, the Company incurred management fees of approximately $1.7 million and $3.9 million, respectively.
	Termination fee
	The termination fee, payable for the Company’s termination of the management agreement without cause or the Manager’s termination of the management agreement upon a default in the performance of any material term of the management agreement, will be equal to three times the average annual management fee during the 24-month period prior to such termination, calculated as of the end of the most recently completed fiscal quarter. As of September 30, 2013 and December 31, 2012, no event of termination of the management agreement had occurred.
	Expense reimbursement
	The Company is required to reimburse the Manager for operating expenses related to the Company that are incurred by the Manager, including expenses relating to legal, accounting, due diligence and other services. The Company’s reimbursement obligation is not subject to any dollar limitation. The Company will not reimburse the Manager for the salaries and other compensation of its personnel except that the Company will be responsible for expenses incurred by the Manager in employing the Company’s chief financial officer, general counsel and other employees as further described below.
	The Company will reimburse the Manager or its affiliates for the allocable share of the compensation, including, without limitation, annual base salary, bonus, any related withholding taxes and employee benefits paid to (i) the Company’s chief financial officer based on the percentage of his time spent on Company affairs, (ii) the Company’s general counsel based on the percentage of his time spent on the Company’s affairs, and (iii) other corporate finance, tax, accounting, internal audit, legal, risk management, operations, compliance and other non-investment personnel of the Manager and its affiliates who spend all or a portion of their time managing the Company’s affairs based upon the percentage of time devoted by such personnel to the Company’s affairs. In their capacities as officers or personnel of the Manager or its affiliates, they will devote such portion of their time to the Company’s affairs as is necessary to enable the Company to operate its business. For the three and nine months ended September 30, 2013, the Company has expensed into Other operating expenses $1.6 million and $4.4 million, respectively, of reimbursable expenses payable to the Manager. The Manager did not waive any expense reimbursements for the three and nine months ended September 30, 2013. The Manager waived its right to receive expense reimbursement of $0.9 million and $1.8 million of expense reimbursement for the three and nine months ended September 30, 2012, respectively.
	Restricted stock grants
	On July 6, 2011 (the date of consummation of the IPO), the Company entered into (i) a restricted stock award agreement with the Manager under the Manager Equity Incentive Plan, pursuant to which the Manager received 40,250 shares of the Company’s common stock, which vest ratably on a quarterly basis over a three-year period that began on October 1, 2011 and (ii) restricted stock award agreements with the Company’s four initial independent directors under the Equity Incentive Plan, pursuant to which each of the four initial independent directors received 1,500 shares of the Company’s common stock that vest in equal installments over three years on each annual anniversary of the grant date. Following the election of the fifth independent director at the 2013 Annual Meeting of Stockholders, 500 shares of the Company’s common stock were granted on September 1, 2013 to the fifth independent director under the Equity Incentive Plan. These shares will vest on July 6, 2014.
	Pursuant to the Manager Equity Incentive Plan and the Equity Incentive Plan, 277,500 shares of common stock are available to be awarded. Awards under the equity incentive plans are forfeitable until they become vested. An award will become vested only if the vesting conditions set forth in the award agreement (as determined by the board of directors or the compensation committee, as applicable) are satisfied. The vesting conditions may include performance of services for a specified period, achievement of performance goal, or a combination of both. The board of directors or the compensation committee, as applicable, also has authority to provide for accelerated vesting upon the occurrence of certain events.
	The Company also pays a $60,000 annual base director’s fee to each independent director. With respect to the fifth independent director elected at the 2013 Annual Meeting of Stockholders, the annual base director’s fee for 2013 will be prorated for the period of May 1, 2013 to December 31, 2013. Base director’s fees are paid 50% in cash and 50% in restricted common stock. The number of shares of restricted common stock to be issued each quarter to each independent director is determined based on the fair market value of the Company’s common stock equal to the closing price thereof on the New York Stock Exchange on the last business day of each fiscal quarter. To the extent that any fractional shares would otherwise be issuable and payable to each independent director, a cash payment is made to each independent director in lieu of any fractional shares. All directors’ fees are paid pro rata (and restricted stock grants determined) on a quarterly basis in arrears, and shares issued are fully vested and non-forfeitable. These shares may not be sold or transferred during the time of service as an independent member of the Company’s board.

Equity

Equity	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	11. Equity
	On January 24, 2012, the Company completed a follow-on offering of 5,000,000 shares of its common stock and subsequently issued an additional 750,000 shares of common stock pursuant to the underwriters’ over-allotment option at a price of $19.00 per share, for aggregate gross proceeds of approximately $109.3 million. Net proceeds to the Company from the offering were approximately $104.0 million, net of issuance costs of approximately $5.3 million.
	On July 13, 2012, the Company filed a shelf registration statement on Form S-3 with the SEC, offering up to $1.0 billion of capital stock. The registration statement was declared effective on July 20, 2012. At September 30, 2013, approximately $549.5 million of our capital stock was available for issuance under the registration statement.
	On August 3, 2012, the Company completed a public offering of 1,800,000 shares of 8.25% Series A Cumulative Redeemable Preferred Stock and subsequently issued an additional 270,000 shares pursuant to the underwriters’ over-allotment option with a liquidation preference of $25.00 per share. The Company received total gross proceeds of approximately $51.8 million. Net proceeds to the Company from the offering were approximately $49.9 million, net of underwriting discounts, commissions and expenses. The Series A Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption. Under certain circumstances upon a change of control, the Series A Preferred Stock is convertible to shares of the common stock. Holders of Series A Preferred Stock have no voting rights, except under limited conditions, and holders are entitled to receive cumulative cash dividends at a rate of 8.25% per annum of the $25.00 per share liquidation preference before holders of the common stock are entitled to receive any dividends. Shares of the Series A Preferred Stock are redeemable at $25.00 per share plus accumulated and unpaid dividends (whether or not declared) exclusively at the Company’s option commencing on August 3, 2017, or earlier under certain circumstances intended to preserve the Company’s qualification as a REIT for Federal income tax purposes. Dividends are payable quarterly in arrears on the 17th day of each March, June, September and December. As of September 30, 2013, the Company had declared all required quarterly dividends on the Series A Preferred Stock.
	On August 15, 2012, the Company completed a public offering of 6,000,000 shares of its common stock and simultaneously issued an additional 900,000 shares pursuant to the underwriters’ over-allotment option at a price of $23.29 per share. The Company received total gross proceeds of approximately $160.7 million. Net proceeds to the Company from the offering were approximately $152.7 million, net of underwriting discounts, commissions and expenses.
	On September 6, 2012, the Company entered into an equity distribution agreement with each of Mitsubishi UFJ Securities (USA), Inc., JMP Securities LLC and Brinson Patrick Securities Corporation (the “Sales Agents”), which the Company refers to as the Equity Distribution Agreements, pursuant to which the Company may sell up to 3,000,000 shares of common stock from time to time through the Sales Agents, as defined in Rule 415 under the Securities Act of 1933. As of September 30, 2013, the Company had sold 1,254,854 shares of common stock through the Sales Agents for net proceeds of approximately $31.3 million.
	On September 27, 2012, the Company completed a public offering of 4,000,000 shares of 8.00% Series B Cumulative Redeemable Preferred Stock and issued an additional 600,000 shares pursuant to the underwriters’ over-allotment option with a liquidation preference of $25.00 per share. The Company received total gross proceeds of approximately $115.0 million. Net proceeds to the Company from the offering were approximately $111.3 million, net of underwriting discounts, commissions and expenses. The Series B Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption. Under certain circumstances upon a change of control, the Series B Preferred Stock is convertible to shares of the common stock. Holders of Series B Preferred Stock have no voting rights, except under limited conditions, and holders are entitled to receive cumulative cash dividends at a rate of 8.00% per annum of the $25.00 per share liquidation preference before holders of the common stock are entitled to receive any dividends. Shares of the Series B Preferred Stock are redeemable at $25.00 per share plus accumulated and unpaid dividends (whether or not declared) exclusively at the Company’s option commencing on September 27, 2017, or earlier under certain circumstances intended to preserve the Company’s qualification as a REIT for Federal income tax purposes. Dividends are payable quarterly in arrears on the 17th day of each March, June, September and December. As of September 30, 2013, the Company had declared all required quarterly dividends on the Series B Preferred Stock.
	On December 26, 2012, the Company completed a public offering of 3,750,000 shares of its common stock at a price of $24.33 per share. The Company received total gross proceeds of approximately $91.2 million. Net proceeds to the Company from the offering were approximately $87.5 million, net of underwriting discounts, commissions and expenses.
	For the nine months ended September 30, 2013, warrants were exercised by the cashless exercise option, which resulted in the issuance of 20,101 shares of common stock. No proceeds were received in connection with the exercise of the cashless option. For the nine months ended September 30, 2013, warrants were exercised by the cash exercise option, which resulted in the issuance of 196,250 shares of common stock for proceeds to the Company of $4.0 million. No warrants were exercised during the three months ended September 30, 2013. For the three and nine months ended September 30, 2012, warrants were exercised by the cashless exercise option, which resulted in the issuance of 38,307 shares of common stock. No proceeds were received in connection with the exercise of the cashless option. For the three and nine months ended September 30, 2012, warrants were exercised by the cash exercise option, which resulted in the issuance of 163,749 shares of common stock for proceeds to the Company of $3.4 million.
	During the quarter ended September 30, 2013, the Company declared a quarterly dividend to common stockholders totaling $17.0 million, or $0.60 per share, which was paid on October 28, 2013. For the nine months ended September 30, 2013, the Company declared dividends to common stockholders of $61.7 million or $2.20 per share. During the quarter ended September 30, 2012, the Company declared a quarterly dividend to common stockholders totaling $17.6 million, or $0.77 per share, which was paid on October 26, 2012. For the nine months ended September 30, 2012, the Company declared dividends to common stockholders of $39.7 million, or $2.17 per share.
	During the three months ended September 30, 2013, the board of directors declared a quarterly distribution to the holders of the Series A Preferred Stock and Series B Preferred Stock of $0.51563 per share and $0.50 per share, respectively. The distributions were paid on September 17, 2013 to stockholders of record as of August 30, 2013. During the nine months ended September 30, 2013, the board of directors declared distributions to the holders of the Series A Preferred Stock and Series B Preferred Stock of $1.54689 per share and $1.50 per share, respectively. During the three months ended September 30, 2012, the board of directors declared a distribution to the holders of the Series A Preferred Stock of $0.2521 per share for the partial quarterly period that began on the initial issuance date of the Series A Preferred Stock and ended on September 16, 2012. The distribution was paid on September 17, 2012 to stockholders of record as of August 31, 2012.

Commitments_And_Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	12. Commitments and Contingencies
	From time to time, the Company may become involved in various claims and legal actions arising in the ordinary course of business. Management is not aware of any significant contingencies at September 30, 2013.

Recovered_Sheet1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and cash equivalents
	Cash is comprised of cash on deposit with financial institutions. We classify highly liquid investments with original maturities of three months or less from the date of purchase as cash equivalents. We place our cash and cash equivalents with high credit quality institutions to minimize credit risk exposure. Any cash held by the Company as collateral would be included in a due to broker line item on the consolidated balance sheet and in cash flows from financing activities on the consolidated statement of cash flows.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Restricted cash
	Restricted cash includes cash pledged as collateral for clearing and executing trades, interest rate swaps and repurchase agreements. Restricted cash is carried at cost, which approximates fair value.
Offering and Organization Costs [Policy Text Block]	'
	Offering costs
	The Company incurred costs in connection with common stock offerings and issuances of preferred stock. The offering costs were paid out of the proceeds of the respective offerings. Offering costs in connection with common stock offerings have been accounted for as a reduction of additional paid-in-capital and offering costs in connection with preferred stock offerings have been accounted for as a reduction of their respective gross proceeds.
Use of Estimates, Policy [Policy Text Block]	'
	Use of estimates
	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
Earnings Per Share, Policy [Policy Text Block]	'
	Earnings/(Loss) per share
	In accordance with the provisions of Accounting Standards Codification (“ASC”) 260, “Earnings per Share,” the Company calculates basic income/(loss) per share by dividing net income/(loss) available to common stockholders for the period by weighted-average shares of the Company’s common stock outstanding for that period. Diluted income/(loss) per share takes into account the effect of dilutive instruments, such as stock options, warrants and unvested restricted stock, but uses the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding.
Fair Value of Financial Instruments, Policy [Policy Text Block]	'
	Valuation of financial instruments
	The fair value of the financial instruments that the Company records at fair value will be determined by the Manager, subject to oversight of the board of directors, and in accordance with ASC 820, “Fair Value Measurements and Disclosures.” When possible, the Company determines fair value using independent data sources. ASC 820 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under ASC 820 are described below:
		•	Level 1 – Quoted prices in active markets for identical assets or liabilities.
		•	Level 2 – Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
		•	Level 3 – Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Company’s assumptions about the factors that market participants would use in pricing an asset or liability, and would be based on the best information available.
	Transfers between levels are assumed to occur at the beginning of the reporting period.
Real Estate, Policy [Policy Text Block]	'
	Accounting for real estate securities
	Investments in real estate securities are recorded in accordance with ASC 320. The Company has chosen to make a fair value election pursuant to ASC 825 for its real estate securities portfolio. Real estate securities are recorded at fair market value on the consolidated balance sheet and the periodic change in fair market value is recorded in current period earnings on the consolidated statement of operations as a component of “Unrealized gain/(loss) on real estate securities and loans, net.”
	These investments generally meet the requirements to be classified as available for sale under ASC 320-10-25, “Debt and Equity Securities,” which requires the securities to be carried at fair value on the consolidated balance sheet with changes in fair value charged to other comprehensive income, a component of Stockholders’ Equity. Electing the fair value option allows the Company to record changes in fair value in the statement of operations, which, in management’s view, more appropriately reflects the results of operations for a particular reporting period as all securities activities will be recorded in a similar manner.
	We evaluate securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. The determination of whether a security is other-than-temporarily impaired involves judgments and assumptions based on subjective and objective factors. When the fair value of an investment security is less than its amortized cost at the balance sheet date, the security is considered impaired, and the impairment is designated as either “temporary” or “other-than-temporary.”
	When an investment security is impaired, an OTTI is considered to have occurred if (i) we intend to sell the security (i.e. a decision has been made as of the reporting date) or (ii) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If we intend to sell the security or if it is more likely than not that we will be required to sell the investment security before recovery of its amortized cost basis, the entire amount of the impairment loss, if any, is recognized in earnings as a realized loss and the cost basis of the security is adjusted to its fair value. For securities accounted for under ASC 325-40, “Beneficial Interests in Securitized Financial Assets,” an OTTI is deemed to have occurred when there is an adverse change in the expected cash flows to be received and the fair value of the security is less than its carrying amount. In determining whether an adverse change in cash flows occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), is compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflect those a “market participant” would use and are discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments are reflected in the net realized gain/(loss) line item on the consolidated statement of operations.
	Increases in interest income may be recognized on a security that an OTTI charge was taken, if the performance of such security subsequently improves. The determination as to whether an OTTI exists is subjective, given that such determination is based on information available at the time of assessment as well as the Company’s estimate of the future performance and cash flow projections for the individual security. As a result, the timing and amount of an OTTI constitutes an accounting estimate that may change materially over time.
	Securities in an unrealized loss position at September 30, 2013 are not considered other than temporarily impaired as the Company has the ability and intent to hold the securities to maturity or for a period of time sufficient for a forecasted market price recovery up to or above the cost of the investment, and the Company is not required to sell the security for regulatory or other reasons. See Note 3 for a summary of OTTI charges recorded.
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]	'
	Sales of securities
	Sales of securities are driven by the Manager’s portfolio management process. The Manager seeks to mitigate risks including those associated with prepayments and will opportunistically rotate the portfolio into securities with more favorable attributes. Strategies may also be employed to manage net capital gains, which need to be distributed for tax purposes.
	Realized gains or losses on sales of securities and derivatives, inclusive of linked transactions are included in the net realized gain/(loss) line item on the consolidated statement of operations. The cost of positions sold is calculated using a FIFO basis. Realized gains and losses are recorded in earnings at the time of disposition.
Accounting For Loans [Policy Text Block]	'
	Accounting for loans
	Investments in mortgage loans are recorded in accordance with ASC 310. The Company has chosen to make a fair value election pursuant to ASC 825 for its loan portfolio. Loans are recorded at fair market value on the consolidated balance sheet and any periodic change in fair market value will be recorded in current period earnings on the consolidated statement of operations as a component of “Unrealized gain/(loss) on real estate securities and loans, net.”
	The Company amortizes or accretes any premium or discount over the life of the related loan utilizing the effective interest method. On at least a quarterly basis, the Company evaluates the collectability of both interest and principal of each loan, if circumstances warrant, to determine whether they are impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan is impaired, the amount of the loss accrual is calculated and recorded accordingly. Income recognition is suspended for loans at the earlier of the date at which payments become 90-days past due or when, in the opinion of management, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired loan is not in doubt, contractual interest is recorded as interest income when received, under the cash basis method until an accrual is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. A loan is written off when it is no longer realizable and/or legally discharged.
Investments In and Advances To Affiliates Schedule Of Investments [Policy Text Block]	'
	Investment in affiliates
	The Company’s unconsolidated ownership interests in affiliates are generally accounted for using the equity method. The underlying entities have chosen to make a fair value election pursuant to ASC 825; as such the Company will treat its investment in affiliates consistently with this election. The investment in affiliates is recorded at fair market value on the consolidated balance sheet and periodic changes in fair market value will be recorded in current period earnings on the consolidated statement of operation as a component of “Equity in earnings from affiliate.” Capital contributions, distributions and profits and losses of such entities are allocated in accordance with the terms of the applicable agreements.
Investment, Policy [Policy Text Block]	'
	Investment consolidation
	For each investment made, the Company evaluates the underlying entity that issued the securities acquired or to which the Company makes a loan to determine the appropriate accounting. A similar analysis will be performed for each entity with which the Company enters into an agreement for management, servicing or related services. In performing the analysis, the Company will refer to guidance in ASC 810-10, “Consolidation.” In situations where the Company is the transferor of financial assets, the Company will refer to the guidance in ASC 860-10, “Transfers and Servicing.”
	In variable interest entities (“VIEs”), an entity is subject to consolidation under ASC 810-10 if the equity investors either do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, are unable to direct the entity’s activities or are not exposed to the entity’s losses or entitled to its residual returns. VIEs within the scope of ASC 810-10 are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. This determination can sometimes involve complex and subjective analyses. Further, ASC 810-10 also requires ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. In accordance with ASC 810-10, all transferees, including variable interest entities, must be evaluated for consolidation. If the Company were to treat securitizations as sales in the future, the Company will analyze the transactions under the guidelines of ASC 810-10 for consolidation. All VIEs in which the Company has participated are non-recourse to the Company.
	The Company may periodically enter into transactions in which it sells assets. Upon a transfer of financial assets, the Company will sometimes retain or acquire senior or subordinated interests in the related assets. Pursuant to ASC 860-10, a determination must be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor’s continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. The financial components approach under ASC 860-10 limits the circumstances in which a financial asset, or portion of a financial asset, should be derecognized when the transferor has not transferred the entire original financial asset to an entity that is not consolidated with the transferor in the financial statements being presented and/or when the transferor has continuing involvement with the transferred financial asset. It defines the term “participating interest” to establish specific conditions for reporting a transfer of a portion of a financial asset as a sale.
	Under ASC 860-10, after a transfer of financial assets that meets the criteria for treatment as a sale—legal isolation, ability of transferee to pledge or exchange the transferred assets without constraint and transferred control—an entity recognizes the financial and servicing assets it acquired or retained and the liabilities it has incurred, derecognizes financial assets it has sold and derecognizes liabilities when extinguished. The transferor would then determine the gain or loss on sale of financial assets by allocating the carrying value of the underlying mortgage between securities or loans sold and the interests retained based on their fair values. The gain or loss on sale is the difference between the cash proceeds from the sale and the amount allocated to the securities or loans sold. When a transfer of financial assets does not qualify for sale accounting, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral.
	From time to time, the Company may securitize mortgage loans it holds if such financing is available. These transactions will be recorded in accordance with ASC 860-10 and will be accounted for as either a “sale” and the loans will be removed from the balance sheet or as a “financing” and will be classified as “real estate securities” on the consolidated balance sheet, depending upon the structure of the securitization transaction. ASC 860-10 is a complex standard that may require the Company to exercise significant judgment in determining whether a transaction should be recorded as a “sale” or a “financing.”
Revenue Recognition, Policy [Policy Text Block]	'
	Interest income recognition
	Interest income on the Company’s real estate securities portfolio is accrued based on the actual coupon rate and the outstanding principal balance of such securities. The Company has elected to record interest in accordance with ASC 835-30-35-2 using the effective interest method for all securities accounted for under the fair value option (ASC 825). As such, premiums and discounts are amortized or accreted into interest income over the lives of the securities in accordance with ASC 310-20, “Nonrefundable Fees and Other Costs”, ASC 320-10, “Investments—Debt and Equity Securities” or ASC 325-40, “Beneficial Interests in Securitized Financial Assets,” as applicable. Total interest income will flow though the interest income line item on the Consolidated Statement of Operations.
	On at least a quarterly basis for securities accounted for under ASC 320-10 and ASC 310-20 (generally Agency RMBS), prepayments of the underlying collateral must be estimated, which directly affect the speed at which we amortize such securities. If actual and anticipated cash flows differ from previous estimates, we recognize a “catch-up” adjustment in the current period to the amortization of premiums for the impact of the cumulative change in the effective yield through the reporting date.
	Similarly, we also reassess the cash flows on at least a quarterly basis for securities accounted for under ASC 325-40 (generally Non-Agency RMBS, ABS, CMBS and interest only securities). In estimating these cash flows, there are a number of assumptions that will be subject to uncertainties and contingencies. These include the rate and timing of principal and interest receipts, (including assumptions of prepayments, repurchases, defaults and liquidations), the pass-through or coupon rate and interest rate fluctuations. In addition, interest payment shortfalls due to delinquencies on the underlying mortgage loans have to be judgmentally estimated. Differences between previously estimated cash flows and current actual and anticipated cash flows are recognized prospectively through an adjustment of the yield over the remaining life of the security based on the current amortized cost of the investment as adjusted for credit impairment, if any.
	Interest income on the Company’s loan portfolio is accrued based on the actual coupon rate and the outstanding principal balance of such loans. The Company has elected to record interest in accordance with ASC 835-30-35-2 using the effective interest method for all loans accounted for under the fair value option (ASC 825). Any amortization will be reflected as an adjustment to interest income in the consolidated statements of operations.
	For investments purchased with evidence of deterioration of credit quality for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payments receivable, the Company will apply the provisions of ASC 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality.” ASC 310-30 addresses accounting for differences between contractual cash flows and cash flows expected to be collected from an investor’s initial investment in loans or debt securities (loans) acquired in a transfer if those differences are attributable, at least in part, to credit quality. ASC 310-30 limits the yield that may be accreted (accretable yield) to the excess of the investor’s estimate of undiscounted expected principal, interest and other cash flows (cash flows expected at acquisition to be collected) over the investor’s initial investment in the loan. ASC 310-30 requires that the excess of contractual cash flows over cash flows expected to be collected (nonaccretable difference) not be recognized as an adjustment of yield, loss accrual or valuation allowance. Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan’s yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as impairment.
	The Company’s accrual of interest, discount and premium for U.S. federal and other tax purposes differs from the financial accounting treatment of these items as described above.
Repurchase Agreements, Valuation, Policy [Policy Text Block]	'
	Repurchase agreements
	The Company finances the acquisition of certain assets within its portfolio through the use of repurchase agreements. Repurchase agreements are treated as collateralized financing transactions and are carried at primarily their contractual amounts, including accrued interest, as specified in the respective agreements. The carrying amount of the Company’s repurchase agreements approximates fair value as the debt is short-term in nature.
	The Company pledges certain securities as collateral under repurchase agreements with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. The amounts available to be borrowed are dependent upon the fair value of the securities pledged as collateral, which fluctuates with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries. In response to declines in fair value of pledged securities, lenders may require the Company to post additional collateral or pay down borrowings to re-establish agreed upon collateral requirements, referred to as margin calls. As of September 30, 2013 and December 31, 2012, the Company has met all margin call requirements.
	In instances where the Company acquires assets through repurchase agreements with the same counterparty from whom the assets were purchased, the Company evaluates such transactions in accordance with ASC 860-10. This standard requires the initial transfer of a financial asset and repurchase financing that are entered into contemporaneously with, or in contemplation of, one another to be considered linked unless all of the criteria found in ASC 860-10 are met at the inception of the transaction. If the transaction meets all of the conditions, the initial transfer shall be accounted for separately from the repurchase financing, and the Company will record the assets and the related financing on a gross basis on its balance sheet with the corresponding interest income and interest expense in the statements of operations. If the transaction is determined to be linked, the Company will record the initial transfer and repurchase financing on a net basis and record a forward commitment to purchase assets as a derivative instrument with changes in market value being recorded on the consolidated statement of operations. Such forward commitments are recorded at fair value with subsequent changes in fair value recognized in income. The Company refers to these transactions as Linked Transactions. When or if a transaction is no longer considered to be linked, the real estate security and related repurchase financing will be reported on a gross basis. The unlinking of a transaction causes a realized event in which the fair value of the real estate security as of the date of unlinking will become the cost basis of the real estate security. The difference between the fair value on the unlinking date and the existing cost basis of the security will be the realized gain or loss. Recognition of effective yield for such security will be calculated prospectively using the new cost basis.
Derivatives, Policy [Policy Text Block]	'
	Accounting for derivative financial instruments
	The Company may enter into derivative contracts, including interest rate swaps and interest rate caps, as a means of mitigating its interest rate risk. The Company uses interest rate derivative instruments primarily to mitigate interest rate risk rather than to enhance returns. The Company accounts for derivative financial instruments in accordance with ASC 815-10, “Derivatives and Hedging.” ASC 815-10 requires an entity to recognize all derivatives as either assets or liabilities on the balance sheet and to measure those instruments at fair value. Additionally, the fair value adjustments will affect either other comprehensive income in stockholders’ equity until the hedged item is recognized in earnings or net income depending on whether the derivative instrument is designated and qualifies as a hedge for accounting purposes and, if so, the nature of the hedging activity. As of September 30, 2013 and December 31, 2012, the Company did not have any interest rate derivatives designated as hedges. All derivatives have been recorded at fair value in accordance with ASC 820-10, with corresponding changes in value recognized in the consolidated statement of operations.
	When derivative contracts are executed with the same counterparty for bilateral collateral arrangements, or the same Central Clearing Counterparty (“CCP”) and Futures Commission Merchants (“FCM”) under central clearing, the value of the derivative contracts is reported on a net-by-counterparty or net by CCP/FCM basis, as applicable on the balance sheet, where a legal right of off-set exists under an enforceable netting agreement. As a result, the net exposure to counterparties or CCP/FCM is reported as either an asset or liability on the consolidated balance sheet.
To Be Announced Securities [Policy Text Block]	'
	To-be-announced securities
	A to-be-announced security (“TBA”) is a futures contract for the purchase or sale of Agency RMBS at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date. The specific Agency RMBS delivered into or received from the contract upon the settlement date, published each month by the Securities Industry and Financial Markets Association, are not known at the time of the transaction. TBAs are exempt from ASC 815 and are accounted for under ASC 320 if there is no other way to purchase or sell that security, if delivery or receipt of that security and settlement will occur within the shortest period possible for that type of security and if it is probable at inception and throughout the term of the individual contract that physical delivery or receipt of the security will occur (referred to as the “regular-way” exception). Unrealized gains and losses associated with TBA contracts not subject to the regular-way exception or not designated as hedging instruments are recognized in the consolidated statement of operations in the line item “unrealized gain/(loss) on derivative and other instruments, net.”
Us Treasury Securities [Policy Text Block]	'
	Short positions in U.S. Treasury securities through reverse repurchase agreements
	The Company may sell short U.S. Treasury securities contracts to help mitigate the potential impact of changes in interest rates.  The Company may borrow securities to cover short sales of U.S. Treasury securities under reverse repurchase agreements, which are accounted for as borrowing transactions, and the Company recognizes an obligation to return the borrowed securities at fair value on its consolidated balance sheet based on the value of the underlying borrowed securities as of the reporting date. Realized and unrealized gains and losses associated with purchases and short sales of U.S. Treasury securities are recognized in “net realized gain/(loss)”, and “unrealized gain/(loss) on derivative and other instruments, net”, respectively, on our consolidated statements of operations.
Manager Remuneration [Policy Text Block]	'
	Manager compensation
	The management agreement provides for payment to the Manager of a management fee. The management fee is accrued and expensed during the period for which it is calculated and earned. For a more detailed discussion on the fees payable under the management agreement, see Note 10.
Income Tax, Policy [Policy Text Block]	'
	Income taxes
	The Company conducts its operations to qualify and be taxed as a REIT. Accordingly, the Company will generally not be subject to federal or state corporate income tax to the extent that the Company makes qualifying distributions to its stockholders, and provided that it satisfies on a continuing basis, through actual investment and operating results, the REIT requirements including certain asset, income, distribution and stock ownership tests. If the Company fails to qualify as a REIT, and does not qualify for certain statutory relief provisions, it will be subject to U.S. federal, state and local income taxes and may be precluded from qualifying as a REIT for the four taxable years following the year in which the Company fails to qualify as a REIT.
	The dividends paid deduction of a REIT for qualifying dividends to its stockholders is computed using the Company’s taxable income as opposed to net income reported under GAAP in the financial statements. Taxable income, generally, will differ from net income reported on the financial statements because the determination of taxable income is based on tax provisions and not financial accounting principles.
	The Company has elected to treat AG MIT II, LLC, AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC as taxable REIT subsidiaries, (“TRS”) and may elect to treat other subsidiaries at TRSs. In general, a TRS may hold assets and engage in activities that the Company cannot hold or engage in directly and generally may engage in any real estate or non-real estate-related business. While a TRS will generate net income, a TRS can declare dividends to the Company which will be included in the Company’s taxable income and necessitate a distribution to stockholders. Conversely, if we retain earnings at the TRS level, no distribution is required and the Company can increase book equity of the consolidated entity. A TRS is subject to federal, state and local corporate income taxes.
	The Company’s financial results are generally not expected to reflect provisions for current or deferred income taxes, except for any activities conducted through one or more TRSs that are subject to corporate income taxation. The Company believes that it will operate in a manner that will allow it to qualify for taxation as a REIT. As a result of the Company’s expected REIT qualification, it does not generally expect to pay federal or state corporate income tax. Many of the REIT requirements, however, are highly technical and complex. If the Company were to fail to meet the REIT requirements, it would be subject to federal income taxes and applicable state and local taxes. During the three and nine months ended September 30, 2013 the Company recognized an income tax provision of $0.1 million and $2.8 million, respectively, related to the income and sale of investments held within AG MITT RMAT 2013, LLC and AG MITT RMAT 2013 II, LLC.
	As a REIT, if the Company fails to distribute in any calendar year at least the sum of (i) 85% of its ordinary income for such year, (ii) 95% of its capital gain net income for such year, and (iii) any undistributed taxable income from the prior year, the Company would be subject to a non-deductible 4% excise tax on the excess of such required distribution over the sum of (i) the amounts actually distributed and (ii) the amounts of income retained and on which the Company has paid corporate income tax.
	The Company evaluates uncertain income tax positions, if any, in accordance with ASC Topic 740, “Income Taxes”. The Company classifies interest and penalties, if any, related to unrecognized tax benefits as a component of provision for income taxes. See Note 9 for further details.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock-based compensation
	The Company applies the provisions of ASC 718, “Compensation—Stock Compensation” with regard to its equity incentive plans. ASC 718 covers a wide range of share-based compensation arrangements including stock options, restricted stock plans, performance-based awards, stock appreciation rights and employee stock purchase plans. ASC 718 requires that compensation cost relating to stock-based payment transactions be recognized in financial statements. The cost is measured based on the fair value of the equity or liability instruments issued.
	Compensation cost related to restricted common shares issued to the Company’s directors is measured at its estimated fair value at the grant date, and is amortized and expensed over the vesting period on a straight-line basis. Compensation cost related to restricted common shares issued to the Manager is initially measured at estimated fair value at the grant date, and is remeasured on subsequent dates to the extent the awards are unvested. The Company has elected to use the straight-line method to amortize compensation expense for the restricted common shares granted to the Manager.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recent accounting pronouncements
	In December 2011, the FASB issued Accounting Standards Updated 2011-11, “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11). ASU 2011-11 amends Topic 210 to require additional disclosure information about offsetting and related arrangements. Entities will be required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This scope would include derivatives, sale and repurchase agreements and reverse sale and repurchase agreements. The objective of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of US GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards (“IFRS”). The guidance is effective for periods beginning on or after January 1, 2013, and interim periods within those annual periods.
	In January 2013, the FASB issued ASU 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (ASU 2013 -1). ASU 2013-1 addresses implementation issues about ASU 2011-11 and applies to derivatives accounted for in accordance with ASC 815-10, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with ASC 210-20 “Balance Sheet – Offsetting” or ASC 815 or subject to an enforceable master netting arrangement or similar agreement. The guidance was effective January 1, 2013 and was applied retrospectively. This guidance does not amend the circumstances in which the Company offsets its derivative positions. As a result, the guidance does not have a material effect on the Company's financial statements.

Real_Estate_Securities_Tables

Real Estate Securities (Tables)	9 Months Ended
	Sep. 30, 2013
Real Estate Securities [Abstract]	'
Schedule Of Real Estate Securities [Table Text Block]	'
	The following table details the real estate securities portfolio as of September 30, 2013:
									Gross Unrealized (1)									Weighted Average
		Current Face		Premium		Amortized Cost			Gains			Losses			Fair Value			Coupon				Yield
				(Discount)														-2
	Agency RMBS:
	15 Year Fixed Rate	$	581,988,428	$	17,501,848	$	599,490,276		$	6,713,307		$	-401,924		$	605,801,659			3.13	%			2.49	%
	20 Year Fixed Rate		321,962,591		8,400,055		330,362,646			1,146,805			-1,960,675			329,548,776			3.36	%			2.61	%
	30 Year Fixed Rate		1,121,864,732		64,647,503		1,186,512,235			2,501,531			-13,804,211			1,175,209,555			4.01	%			3.24	%
	ARM		505,107,796		-2,166,104		502,941,692			2,184,823			-1,165,382			503,961,133			2.4	%			2.85	%
	Interest Only		723,052,361		-587,290,862		135,761,499			4,089,505			-7,339,875			132,511,129			4.87	%			6.46	%
	Credit Investments:
	Non-Agency RMBS		734,330,229		-116,094,638		618,235,591			18,964,449			-7,165,097			630,034,943			3.79	%			5.86	%
	ABS		100,516,816		-390,000		100,126,816			3,600			-786,093			99,344,323			3.8	%			3.91	%
	CMBS		59,600,315		-1,431,259		58,169,056			640,499			-636,265			58,173,290			4.98	%			6.08	%
	Interest Only		52,357,700		-45,647,365		6,710,335			-			-213,914			6,496,421			1.92	%			6.2	%
	Total	$	4,200,780,968	$	-662,470,822	$	3,538,310,146		$	36,244,519		$	-33,473,436		$	3,541,081,229			3.74	%			3.65	%
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our real estate securities portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	(2) Principal only securities with a zero coupon rate are excluded from this calculation.
	The following table details the real estate securities portfolio as of December 31, 2012:
									Gross Unrealized (1)									Weighted Average
		Current Face		Premium		Amortized Cost			Gains			Losses			Fair Value			Coupon				Yield
				(Discount)														-2
	Agency RMBS:
	15 Year Fixed Rate	$	1,177,320,487	$	46,922,089	$	1,224,242,576		$	24,223,576		$	-255,956		$	1,248,210,196			2.97	%			2.08	%
	20 Year Fixed Rate		137,858,353		6,696,803		144,555,156			3,569,538			-			148,124,694			3.68	%			2.78	%
	30 Year Fixed Rate		1,998,807,425		116,173,790		2,114,981,215			32,180,328			-3,423,448			2,143,738,095			3.63	%			2.75	%
	ARM		36,228,319		1,584,714		37,813,033			362,721			-			38,175,754			2.96	%			2.34	%
	Interest Only		972,543,812		-763,342,056		209,201,756			5,162,683			-6,746,027			207,618,412			6	%			7	%
	Credit Investments:
	Non-Agency RMBS		634,277,808		-87,414,086		546,863,722			6,704,413			-1,396,738			552,171,397			4.65	%			5.44	%
	ABS		33,620,881		-36,289		33,584,592			352,505			-			33,937,097			5.34	%			5.44	%
	CMBS		96,536,946		-2,094,604		94,442,342			2,956,780			-82,588			97,316,534			5.51	%			6.36	%
	Interest Only		640,867,674		-572,685,926		68,181,748			1,338,054			-1,783,201			67,736,601			2.13	%			5.5	%
	Total	$	5,728,061,705	$	-1,254,195,565	$	4,473,866,140		$	76,850,598		$	-13,687,958		$	4,537,028,780			3.92	%			3.22	%
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our real estate securities portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	(2) Equity residual investments with a zero coupon rate are excluded from this calculation.
Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	'
	The following table presents the gross unrealized losses, and estimated fair value of the Company’s real estate securities by length of time that such securities have been in a continuous unrealized loss position at September 30, 2013 and December 31, 2012.
		Less than 12 months				Greater than 12 months
	As of	Fair Value		Unrealized		Fair Value			Unrealized
				Losses					Losses
	30-Sep-13	$	1,433,208,629	$	-26,017,110	$	126,040,631		$	-7,456,326
	31-Dec-12		777,773,600		-11,267,980		4,872,469			-2,419,978
Weighted Average Life Of Real Estate Securities [Table Text Block]	'
	The following table details weighted average life by Agency RMBS, Agency Interest-Only (“IO”) and Other Securities as of September 30, 2013:
		Agency RMBS								Agency IO										Other Securities (1)
	Weighted Average Life (2)	Fair Value		Amortized Cost		Weighted				Fair Value			Amortized			Weighted				Fair Value			Amortized		Weighted
						Average							Cost			Average							Cost		Average
						Coupon										Coupon									Coupon
	Less than or equal to 1 year	$	-	$	-		-			$	6,864,808		$	6,966,019			4.5	%		$	50,106,408		$	50,260,798		3.4	%
	Greater than one year and less than or equal to five years		371,707,085		366,135,897		3.06	%			99,938,503			102,293,744			5.01	%			371,561,679			364,096,337		3.41	%
	Greater than five years and less than or equal to ten years		1,908,110,089		1,913,113,696		3.44	%			25,707,818			26,501,736			4.39	%			347,024,604			343,923,426		4.11	%
	Greater than ten years		334,703,949		340,057,256		3.58	%			-			-			-				25,356,286			24,961,237		5.23	%
	Total	$	2,614,521,123	$	2,619,306,849		3.41	%		$	132,511,129		$	135,761,499			4.87	%		$	794,048,977		$	783,241,798		3.76	%
	(1) For purposes of this table, Other Securities represents  the following Credit Investments held as of September 30, 2013, Non-Agency RMBS, ABS, CMBS and Interest Only.
	(2) Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities.  Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.
	The following table details weighted average life by Agency RMBS, Agency IO and Other Securities as of December 31, 2012:
		Agency RMBS								Agency IO										Other Securities (1)
	Weighted Average Life (2)	Fair Value		Amortized Cost		Weighted				Fair Value			Amortized			Weighted				Fair Value			Amortized		Weighted
						Average							Cost			Average							Cost		Average
						Coupon										Coupon									Coupon (3)
	Less than or equal to 1 year	$	-	$	-		-			$	-		$	-			-			$	3,748,025		$	3,759,750		0.75	%
	Greater than one year and less than or equal to five years		868,542,200		846,760,882		2.97	%			166,406,425			165,968,688			6.03	%			374,224,663			368,468,808		2.94	%
	Greater than five years and less than or equal to ten years		2,458,784,128		2,424,996,350		3.58	%			41,211,988			43,233,067			5.91	%			354,247,135			351,908,850		5.16	%
	Greater than ten years		250,922,410		249,834,748		3.13	%			-			-			-				18,941,806			18,934,995		1.12	%
	Total	$	3,578,248,738	$	3,521,591,980		3.4	%		$	207,618,413		$	209,201,755			6	%		$	751,161,629		$	743,072,403		3.54	%
	(1) For purposes of this table, Other Securities represents the following Credit Investments held as of December 31, 2012, Non-Agency RMBS, ABS, CMBS and Interest Only.
	(2) Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities.  Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.
	(3) Equity residual investments with a zero coupon rate are excluded from this calculation.

Loans_Tables

Loans (Tables)	9 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	The following table details the loan portfolio as of September 30, 2013:
								Gross Unrealized (1)						Weighted Average
			Current Face		Premium		Amortized Cost		Gains		Losses		Fair Value	Coupon			Yield			Life
					(Discount)
	Commerical Loans	$	30,000,000	$	176,568	$	30,176,568	$	-	$	-176,568	$	30,000,000	9	%		9.87	%		2.81
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our loan portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain/(loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).
	The following table details the loan portfolio as of December 31, 2012:
								Gross Unrealized (1)						Weighted Average
		Current Face		Premium		Amortized Cost		Gains		Losses		Fair Value		Coupon		Yield			Life
				(Discount)
	Commerical Loans	$	2,500,000	$	-	$	2,500,000	$	-	$	-	$	2,500,000	9.63	%		9.63	%		3.51
	(1) We have chosen to make a fair value election pursuant to ASC 825 for our loan portfolio.  Unrealized gains and losses are recognized in current period earnings in the unrealized gain/(loss) on real estate securities and loans, net line item.  The gross unrealized stated above represents inception to date unrealized gains (losses).

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
	The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of September 30, 2013:
			Fair Value at September 30, 2013
				Level 1			Level 2			Level 3		Total
	Assets:
	Agency RMBS:
	15 Year Fixed Rate		$	-		$	605,801,659		$	-	$	605,801,659
	20 Year Fixed Rate			-			329,548,776			-		329,548,776
	30 Year Fixed Rate			-			1,175,209,555			-		1,175,209,555
	ARM			-			503,961,133			-		503,961,133
	Interest Only			-			132,511,129			-		132,511,129
	Credit Investments:											-
	Non-Agency RMBS			-			460,961,995			169,072,948		630,034,943
	ABS			-			-			99,344,323		99,344,323
	CMBS			-			30,829,391			27,343,899		58,173,290
	Interest Only			-			-			6,496,421		6,496,421
	Commercial loans			-			-			30,000,000		30,000,000
	Linked transactions			-			43,974,159			7,111,753		51,085,912
	Derivative assets						31,970,483			-		31,970,483
	Total Assets Carried at Fair Value		$	-		$	3,314,768,280		$	339,369,344	$	3,654,137,624
	Liabilities:
	Obligation to return securities borrowed under reverse repurchase agreements		$	-50,025,781		$	-		$	-	$	-50,025,781
	Derivative liabilities			-			-3,477,340			-		-3,477,340
	Total Liabilities Carried at Fair Value		$	-50,025,781		$	-3,477,340		$	-	$	-53,503,121
	The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2012:
			Fair Value at December 31, 2012
			Level 1			Level 2			Level 3		Total
	Assets:
	Agency RMBS:
	15 Year Fixed Rate		$	-		$	1,248,210,196		$	-	$	1,248,210,196
	20 Year Fixed Rate			-			148,124,694			-		148,124,694
	30 Year Fixed Rate			-			2,143,738,095			-		2,143,738,095
	ARM			-			38,175,754			-		38,175,754
	Interest Only			-			207,618,412			-		207,618,412
	Credit Investments:
	Non-Agency RMBS			-			297,127,840			255,043,557		552,171,397
	ABS			-			-			33,937,097		33,937,097
	CMBS			-			63,249,824			34,066,710		97,316,534
	Interest Only			-			67,736,601			-		67,736,601
	Commercial Mortgage Loans			-			2,500,000			-		2,500,000
	Linked transactions			-			38,617,525			6,505,299		45,122,824
	Total Assets Carried at Fair Value		$	-		$	4,255,098,941		$	329,552,663	$	4,584,651,604
	Liabilities:
	Derivative liabilities		$	-		$	-36,375,947		$	-	$	-36,375,947
	Total Liabilities Carried at Fair Value		$	-		$	-36,375,947		$	-	$	-36,375,947
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following tables present additional information about the Company’s investments which are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value:
	Three Months Ended
	30-Sep-13
			Non-Agency			ABS			CMBS		Interest Only		Commercial		Linked
			RMBS										Loans		Transactions
	Beginning balance		$	217,503,196		$	97,916,107		$	22,779,730	$	6,592,026	$	30,000,000	$	6,089,083
	Transfers (1):
	Transfers into level 3			-			-			-		-		-		-
	Transfers out of level 3			-			-			-		-		-		-
	Purchases			14,967,242			11,610,000			4,462,500		-		-		2,674,853
	Reclassification of security type (2)			-			-			-		-		-		-
	Proceeds from sales			-57,972,354			-			-		-		-		-567,000
	Proceeds from settlement			-2,427,774			-11,487,436			-		-		-		-1,116,717
	Total net gains/(losses) (3)
	Included in net income			-2,997,362			1,305,652			101,669		-95,605		-		31,534
	Included in other comprehensive income (loss)			-			-			-		-		-		-
	Ending Balance		$	169,072,948		$	99,344,323		$	27,343,899	$	6,496,421	$	30,000,000	$	7,111,753
	Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2013 (4)		$	-1,972,852		$	1,305,652		$	93,343	$	47,010	$	-	$	50,778
	(1) Transfers are assumed to occur at the beginning of the period.
	(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
	(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
	Gain on linked transactions, net		$	152,946
	Unrealized gain/(loss) on real estate securities and loans, net			-530,032
	Interest income			37,573
	Net realized gain/(loss)			-1,314,599
	Total		$	-1,654,112
	(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
	Gain on linked transactions, net		$	50,778
	Unrealized gain/(loss) on real estate securities and loans, net			-526,847
	Total		$	-476,069
	Three Months Ended
	30-Sep-12
			Non-Agency			ABS			CMBS		Linked
			RMBS								Transactions
	Beginning balance		$	54,922,912		$	13,509,441		$	7,509,275	$	15,107,657
	Transfers (1):
	Transfers into level 3			-			-			-		-
	Transfers out of level 3			-			-			-		-
	Purchases			36,414,561			17,824,181			22,441,133		19,459,549
	Reclassification of security type (2)			71,069,657						45,265,490		-23,016,762
	Proceeds from sales			-			-			-		-2,004,063
	Proceeds from settlement			-7,752,426			-			-6,296,687		-1,349,363
	Total net gains/ (losses) (3)
	Included in net income			-57,427			2,479			1,003,769		196,656
	Included in other comprehensive income (loss)			-			-			-		-
	Ending Balance		$	154,597,277		$	31,336,101		$	69,922,980	$	8,393,674
	Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2012 (4)		$	-57,427		$	2,479		$	1,003,769	$	192,593
	(1) Transfers are assumed to occur at the beginning of the period.
	(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
	(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
	Gain on linked transactions, net		$	196,656
	Unrealized gain/(loss) on real estate securities and loans, net			952,706
	Interest income			-3,885
	Total		$	1,145,477
	(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
	Gain on linked transactions, net		$	192,593
	Unrealized gain/(loss) on real estate securities and loans, net			952,706
	Interest income			-3,885
	Total		$	1,141,414
	Nine Months Ended
	30-Sep-13
			Non-Agency			ABS			CMBS		Interest Only		Commercial		Linked
			RMBS										Loans		Transactions
Beginning balance		$	255,043,557		$	33,937,097		$	34,066,710	$	-	$	-	$	6,425,683
Transfers (1):
Transfers into level 3			-			-			-		-		-		-
Transfers out of level 3			-			-			-		-		-		-
Purchases			112,712,253			139,603,404			4,462,500		7,048,720		30,017,825		5,333,022
Reclassification of security type (2)			-			-			-		-		-		-
Proceeds from sales			-185,283,901			-41,105,832			-10,041,297		-		-		-567,000
Proceeds from settlement			-14,815,085			-32,076,184			-58,631		-		-		-3,512,076
Total net gains/(losses) (3)
Included in net income			1,416,124			-1,014,162			-1,085,383		-552,299		-17,825		-567,876
Included in other comprehensive income (loss)			-			-			-		-		-		-
Ending Balance		$	169,072,948		$	99,344,323		$	27,343,899	$	6,496,421	$	30,000,000	$	7,111,753
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2013 (4)		$	-1,206,175		$	-782,493		$	-730,024	$	-213,915	$	-17,825	$	-664,102
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	-489,068
Unrealized gain/(loss) on real estate securities and loans, net			-4,713,939
Interest income			475,040
Net realized gain/ (loss)			2,906,546
Total		$	-1,821,421
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	-664,102
Unrealized gain/(loss) on real estate securities and loans, net			-2,950,432
Total		$	-3,614,534
Nine Months Ended
30-Sep-12
		Non-Agency			ABS			CMBS		Linked
		RMBS								Transactions
Beginning balance		$	28,407,005		$	4,526,620		$	-	$	5,277,317
Transfers (1):
Transfers into level 3			-			-			-		-
Transfers out of level 3			-			-					-
Purchases			74,924,292			41,328,345			32,166,758		86,418,809
Reclassification of security type (2)			71,069,657			-			45,265,490		-23,016,762
Proceeds from sales			-			-			-		-2,004,063
Proceeds from settlement			-19,766,596			-15,092,531			-8,553,875		-59,858,923
Total net gains/ (losses) (3)
Included in net income			-37,081			573,667			1,044,607		1,577,296
Included in other comprehensive income (loss)			-			-			-		-
Ending Balance		$	154,597,277		$	31,336,101		$	69,922,980	$	8,393,674
									-
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2012 (4)		$	-37,080		$	12,660		$	1,044,608	$	397,873
(1) Transfers are assumed to occur at the beginning of the period.
(2) Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
(3) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	1,577,296
Unrealized gain/(loss) on real estate securities and loans, net			1,622,980
Interest income			-41,787
Total		$	3,158,489
(4) Gains/(losses) are recorded in the following line items in the consolidated statement of operations:
Gain on linked transactions, net		$	397,873
Unrealized gain/(loss) on real estate securities and loans, net			1,066,657
Interest income			-46,470
Total		$	1,418,060
The Company did not have any transfers of assets or liabilities in or out of Level 3 of the fair value hierarchy during the three and nine months ended September 30, 2013 and September 30, 2012.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	'
	The following tables present a summary of quantitative information about the significant unobservable inputs used in the fair value measurement of investments for which the Company has utilized Level 3 inputs to determine fair value:
	Asset Class	Fair Value at			Valuation Technique	Unobservable Input	Range
		September 30,					(Weighted Average)
		2013
						Yield	3.35% - 7.90% (4.97%)
	Non Agency RMBS		$	169,072,948	Discounted Cash Flow	Projected Collateral Prepayments	3.50% - 6.00% (4.13%)
						Projected Collateral Losses	0.50% - 9.00% (1.78%)
						Projected Collateral Severities	20.00% - 80.00% (67.03%)
	ABS		$	99,344,323	Discounted Cash Flow	Yield	3.69% - 5.40% (3.91%)
						Yield	4.00% - 7.62% (5.55%)
	CMBS		$	27,343,899	Discounted Cash Flow	Projected Collateral Prepayments	0.00% - 0.00% (0.00%)
						Projected Collateral Losses	0.00% - 0.00% (0.00%)
						Projected Collateral Severities	0.00% - 0.00% (0.00%)
						Yield	6.16% - 6.21% (6.20%)
	Interes t Only		$	6,496,421	Discounted Cash Flow	Projected Collateral Prepayments	100.00% - 100.00% (100.00%)
						Projected Collateral Losses	0.00% - 0.00% (0.00%)
						Projected Collateral Severities	0.00% - 0.00% (0.00%)
	Commercial Loans		$	30,000,000	Discounted Cash Flow	Yield	9.87% - 9.87% (9.87%)
						Yield	4.95% - 7.62% (5.81%)
						Projected Collateral Prepayments	0.00% - 5.00% (1.17%)
	Linked Trans actions *		$	7,111,753	Discounted Cash Flow	Projected Collateral Losses	0.00% - 5.00% (1.17%)
						Projected Collateral Severities	0.00% - 70.00% (16.36%)
	*Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.
	Asset Class		Fair Value at			Valuation Technique		Unobservable Input		Range
			December 31,							(Weighted Average)
			2012
								Yield		4.43% -  9.60%   (5.90%)
	Non-Agency RMBS		$	255,043,557		Discounted Cash Flow		Projected Collateral Prepayments		1.00% -  9.00%   (4.41%)
								Projected Collateral Losses		0.20% -  16.00%   (2.03%)
								Projected Collateral Severities		40.00% -  75.00%   (55.27%)
								Yield		4.66% - 7.05%   (5.77%)
	ABS		$	33,937,097		Discounted Cash Flow		Projected Collateral Prepayments		20.00% -  100.00%   (59.72%)
								Projected Collateral Losses		0.00% - 0.00%   (0.00%)
								Projected Collateral Severities		0.00% -  0.00%   (0.00%)
								Yield		2.23% -  5.76%   (5.05%)
	CMBS		$	34,066,710		Discounted Cash Flow		Projected Collateral Prepayments		0.00% -  0.00%   (0.00%)
								Projected Collateral Losses		0.00% - 0.00%   (0.00%)
								Projected Collateral Severities		0.00% - 0.00%   (0.00%)
								Yield		4.14% -  10.93%   (5.59%)
	Linked Transactions*		$	6,505,299		Discounted Cash Flow		Projected Collateral Prepayments		0.00% -  25.00%   (0.94%)
								Projected Collateral Losses		0.00% -  35.00%   (16.25%)
								Projected Collateral Severities		0.00% - 65.00%   (34.32%)
	*Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.

Repurchase_Agreements_Tables

Repurchase Agreements (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure Of Repurchase Agreements [Abstract]	'
Schedule of Repurchase Agreements [Table Text Block]	'
	The following table presents certain information regarding the Company’s repurchase agreements as of September 30, 2013:
	Repurchase Agreements			Weighted		Weighted Average
	Maturing Within:	Balance		Average Rate		Haircut
	30 days or less	$	1,331,373,000	0.84	%	11.53	%
	31-60 days		858,497,000	0.46	%	6.39	%
	61-90 days		206,089,000	0.42	%	7.63	%
	Greater than 90 days		569,136,409	0.77	%	4.36	%
	Total / Weighted Average	$	2,965,095,409	0.69	%	8.4	%
	The following table presents certain information regarding the Company’s repurchase agreements as of December 31, 2012:
	Repurchase Agreements			Weighted		Weighted Average
	Maturing Within:	Balance		Average Rate		Haircut
	30 days or less	$	2,242,856,547	0.71	%	7.28	%
	31-60 days		783,969,000	0.52	%	4.04	%
	61-90 days		547,416,000	0.57	%	3.49	%
	Greater than 90 days		337,178,271	1.3	%	11.95	%
	Total / Weighted Average	$	3,911,419,818	0.7	%	6.5	%
Schedule Of Securities Collateral Information [Table Text Block]	'
	The following table presents information with respect to the Company’s posting of collateral at September 30, 2013 and December 31, 2012:
		30-Sep-13		31-Dec-12
	Repurchase agreements secured by Agency RMBS	$	2,373,094,000	$	3,346,676,000
	Fair Value of Agency RMBS pledged as collateral under repurchase agreements		2,551,904,769		3,489,393,062
	Repurchase agreements secured by Non-Agency RMBS, ABS and CMBS		592,001,409		564,743,818
	Fair Value of Non-Agency RMBS, ABS and CMBS pledged as collateral under repurchase agreements		773,074,747		711,699,379
	Net cash pledged (i.e., restricted cash) under repurchase agreements		82,709		1,500,000
Schedule Of Gross and Net Information About Repurchase Agreements [Table Text Block]	'
	The following table presents both gross information and net information about repurchase agreements eligible for offset in the statement of financial position as of September 30, 2013:
								Gross Amounts Not Offset in the
								Statement of Financial Position
	Description	Gross Amounts of		Gross Amounts Offset		Net Amounts of Liabilities		Financial		Cash Collateral		Net Amount
		Recognized		in the Statement of		Presented in the Statement of		Instruments		Posted
		Liabilities		Financial Position		Financial Position		Posted
	Repurchase Agreements		2,965,095,409		-		2,965,095,409		2,965,095,409		-		-
	The following table presents both gross information and net information about repurchase agreements eligible for offset in the statement of financial position as of December 31, 2012:
									Gross Amounts Not Offset in the
									Statement of Financial Position
	Description	Gross Amounts of		Gross Amounts Offset		Net Amounts of Liabilities		Financial		Cash Collateral		Net Amount
		Recognized		in the Statement of		Presented in the Statement of		Instruments		Posted
		Liabilities		Financial Position		Financial Position		Posted
	Repurchase Agreements	$	3,911,419,818	$	-	$	3,911,419,818	$	3,911,419,818	$	-	$	-

Derivatives_Tables

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2013
Derivatives [Abstract]	'
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	'
	The following table presents the fair value of the Company's derivative instruments and their balance sheet location at September 30, 2013 and December 31, 2012.
	Derivative Instrument		Designation		Balance Sheet Location			September 30, 2013			December 31, 2012
	Interest rate swaps, at fair value			Non-Hedge		Derivative liabilities, at fair value		$	-1,856,442		$	-36,238,250
	Interest rate swaps, at fair value			Non-Hedge		Derivative assets, at fair value			31,686,108			-
	TBAs			Non-Hedge		Derivative liabilities, at fair value			-1,620,898			-137,697
	TBAs			Non-Hedge		Derivative assets, at fair value			284,375			-
	Linked transactions, at fair value			Non-Hedge		Linked transactions, net, at fair value			51,085,912			45,122,824
Schedule of Derivative Instruments [Table Text Block]	'
	The following table summarizes information related to derivatives:
			September 30, 2013		December 31, 2012
	Non-hedge derivatives
	Notional amount of Interest Rate Swap Agreements (1)		$	2,643,000,000	$	2,166,025,000
	Net notional amount of TBAs			25,000,000		40,000,000
	Notional amount of Linked Transactions (2)			311,676,369		349,775,342
	(1) Includes forward starting swaps with a notional of $25.0 million and $100.0 million as of September 30, 2013 and December 31, 2012, respectively.
	(2) Represents the current face of the securities comprising linked transactions.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	'
	The following table summarizes gains/(losses) related to derivatives:
					Three Months Ended			Three Months Ended			Nine Months Ended			Nine Months Ended
			Income Statement Location		September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
	Non-hedge derivatives gain/(loss):
	Interest rate swaps			Unrealized gain/(loss) on derivative and other instruments, net	$	-5,700,547		$	-13,734,963		$	69,649,295		$	-26,251,451
	Interest rate swaps			Net realized gain/(loss)		-2,207,074			-65,012			-9,294,517			-332,127
	TBAs			Unrealized gain/(loss) on derivative and other instruments, net		1,022,755			363,477			-1,198,828			-541,682
	TBAs			Net realized gain/(loss)		153,578			-353,516			-423,571			1,363,750
	Linked transactions			Gain on linked transactions, net		2,060,270			6,688,111			6,558,879			13,492,268
	Linked transactions			Net realized gain/(loss)		-2,580,055			2,611,936			-4,262,338			3,605,358
Schedule Of Gross and Net Information About Derivative Instruments [Table Text Block]	'
	The following table presents both gross information and net information about derivative and other instruments eligible for offset in the statement of financial position as of September 30, 2013:
											Gross Amounts Not Offset in the
											Statement of Financial Position
	Description		Gross Amounts of		Gross Amounts Offset			Net Amounts of Assets			Financial			Cash Collateral		Net Amount
			Recognized		in the			(Liabilities) Presented in the			Instruments			(Posted)/Received
			Assets (Liabilities)		Statement of			Statement of Financial Position			(Posted)
					Financial Position
	Linked Transactions (1)		$	279,655,499	$	-229,265,000		$	50,390,499		$	50,390,499		$	-	$	-
	Receivable Under Reverse		$	50,125,000	$	-		$	50,125,000		$	50,025,781		$	-	$	99,219
	Repurchase Agreements
	Derivative Assets (2)
	Interest Rate Swaps		$	43,102,018	$	-3,143,638		$	39,958,380		$	-		$	16,290,000	$	23,668,380
	TBAs			284,375		-			284,375			-			280,000		4,375
	Total Derivative Assets		$	43,386,393	$	-3,143,638		$	40,242,755		$	-		$	16,570,000	$	23,672,755
	Derivative Liabilities (3)
	Interest Rate Swaps		$	-1,610,997	$	861,650		$	-749,347		$	-		$	-749,347	$	-
	TBAs			-3,529,882		1,908,984			-1,620,898			-1,620,898			-		-
	Total Derivative Liabilities		$	-5,140,879	$	2,770,634		$	-2,370,245		$	-1,620,898		$	-749,347	$	-
	(1) Included in Linked Transactions on the consolidated balance sheet is security fair market value of $279,655,499, repurchase agreements of $(229,265,000) and net accrued interest of $695,413 for a total of $51,085,912.
	(2) Included in Derivative Assets on the consolidated balance sheet is $40,242,755 less accrued interest of $(8,272,272) for a total of $31,970,483.
	(3) Included in Derivative Liabilities on the consolidated balance sheet is $(2,370,245) plus accrued interest of $(1,107,095) for a total of $(3,477,340).
	The following table presents both gross information and net information about derivative instruments eligible for offset in the statement of financial position as of December 31, 2012:
											Gross Amounts Not Offset in the
											Statement of Financial Position
	Description		Gross Amounts of		Gross Amounts Offset			Net Amounts of (Liabilities)			Financial			Cash Collateral		Net Amount
			Recognized		in the			Presented in the Statement of			Instruments			(Posted)
			(Liabilities)		Statement of			Financial Position			(Posted)
					Financial Position
	Linked Transactions (1)		$	326,589,623	$	-282,343,454		$	44,246,169		$	-		$	-	$	-
	Derivative Liabilities (2)
	Interest Rate Swaps		$	-30,698,913	$	258,652		$	-30,440,261		$	-30,440,261		$	-	$	-
	TBAs			-137,696		-		$	-137,696			-			-		-
	Total Derivative Liabilities		$	-30,836,609	$	258,652		$	-30,577,957		$	-30,440,261		$	-	$	-
	(1) Included in Linked Transactions on the consolidated balance sheet is security fair market value of $326,589,623, repurchase agreements of $(282,343,454) and net accrued interest of $876,655 for a total of $45,122,824.
	(2) Included in Derivative Liabilities on the consolidated balance sheet is $(30,577,957) less accrued interest of $(5,797,990) for a total of $(36,375,947).
Schedule of Interest Rate Derivatives [Table Text Block]	'
	The following table presents information about the Company’s interest rate swaps as of September 30, 2013:
	Maturity		Notional Amount		Weighted Average				Weighted Average				Weighted Average
					Pay Rate				Receive Rate				Years to Maturity
	2016		$	180,000,000		0.9	%			0.26	%			2.71
	2017			335,000,000		1.05	%			0.26	%			3.95
	2018			818,000,000		1.28	%			0.26	%			4.67
	2019			350,000,000		1.38	%			0.26	%			5.8
	2020			665,000,000		1.7	%			0.26	%			6.56
	2022			50,000,000		1.69	%			0.26	%			8.93
	2023		*	245,000,000		2.37	%			0.26	%			9.71
	Total/Wtd Avg		$	2,643,000,000		1.45	%			0.26	%			5.62
	* This figure includes a forward starting swap with a total notional of $25.0 million and a start date of October 1, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of September 30, 2013.
	The following table presents information about the Company’s interest rate swaps as of December 31, 2012:
	Maturity		Notional Amount		Weighted Average				Weighted Average				Weighted Average
					Pay Rate				Receive Rate				Years to Maturity
	2014		$	204,500,000		1	%			0.33	%			1.54
	2015			364,025,000		1.08	%			0.3	%			2.42
	2016			367,500,000		1.08	%			0.3	%			3.36
	2017			410,000,000		1.02	%			0.31	%			4.7
	2018	*		320,000,000		1.31	%			0.31	%			5.56
	2019	*		450,000,000		1.39	%			0.31	%			6.56
	2022			50,000,000		1.69	%			0.31	%			9.68
	Total/Wtd Avg		$	2,166,025,000		1.17	%			0.31	%			4.42
	* These figures include forward starting swaps with a total notional of $100.0 million and a weighted average start date of April 2, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of December 31, 2012.
Schedule Of To Be Announced Securities Activity [Table Text Block]	'
	The following table presents information about the Company’s TBAs for the three and nine months ended September 30, 2013 and September 30, 2012:
	For the Three Months Ended September 30, 2013
			Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net		Derivative		Derivative
			Notional					Settlement			Notional			as of Period End		Receivable		Asset		Liability
			Amount								Amount					from Broker
	TBAs		$	-150,000,000	$	623,000,000		$	-498,000,000		$	-25,000,000		$	-24,431,640	$	23,095,117	$	284,375	$	-1,620,898
	For the Three Months Ended September 30, 2012
			Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net Payable to		Derivative		Derivative
			Notional					Settlement			Notional			as of Period End		Broker		Asset		Liability
			Amount								Amount
	TBAs		$	-	$	275,000,000		$	-275,000,000		$	-		$	-	$	363,477	$	2,936,328	$	-2,572,851
	For the Nine Months Ended September 30, 2013
			Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net		Derivative		Derivative
			Notional					Settlement			Notional			as of Period End		Receivable		Asset		Liability
			Amount								Amount					from Broker
	TBAs		$	40,000,000	$	1,543,000,000		$	-1,608,000,000		$	-25,000,000		$	-24,431,640	$	23,095,117	$	284,375	$	-1,620,898
	For the Nine Months Ended September 30, 2012
			Beginning		Additions			Sale or			Ending Net			Net Fair Value		Net Payable to		Derivative		Derivative
			Notional					Settlement			Notional			as of Period End		Broker		Asset		Liability
			Amount								Amount
	TBAs		$	100,000,000	$	495,000,000		$	-595,000,000		$	-		$	-	$	363,477	$	2,936,328	$	-2,572,851
Schedule Of Repurchase Agreements Comprising Linked Transaction [Table Text Block]	'
	The following table presents certain information related to the securities accounted for as a part of linked transactions for the three and nine months ended September 30, 2013:
														For the Three Months Ended September 30, 2013								For the Nine Months Ended September 30, 2013
	Instrument		Current Face		Amortized			Fair Value			Net Accrued			Net		Unrealized		Net		Amount		Net		Unrealized		Net		Amount		Weighted			Weighted
					Cost						Interest			Interest		Gain/(Loss)		Realized		Included in		Interest		Gain/(Loss)		Realized		Included in		Average			Average
														Income				Gain/(Loss)		Statement of		Income				Gain/(Loss)		Statement of		Coupon			Life
																				Operations								Operations
	Non-Agency RMBS		$	287,806,369	$	253,545,104		$	258,164,346		$	657,323		$	2,750,860	$	-1,095,697	$	-2,458,643	$	-803,480	$	9,969,921	$	-3,592,194	$	-4,060,548	$	2,317,179		4.09	%		4.85
	CMBS			23,870,000		21,871,211			21,491,153			38,090			162,082		243,025		-121,412		283,695		487,843		-306,691		-201,790		-20,638		2.32	%		4.12
	Total		$	311,676,369	$	275,416,315		$	279,655,499		$	695,413		$	2,912,942	$	-852,672	$	-2,580,055	$	-519,785	$	10,457,764	$	-3,898,885	$	-4,262,338	$	2,296,541		3.95	%		4.79
	The following table presents certain information related to the securities accounted for as a part of linked transactions for the three and nine months ended September 30, 2012:
														For the Three Months Ended September 30, 2012								For the Nine Months Ended September 30, 2012
	Instrument		Current Face		Amortized			Fair Value			Net Accrued			Net		Unrealized		Net		Amount		Net		Unrealized		Net		Amount		Weighted			Weighted
					Cost						Interest			Interest		Gain		Realized		Included in		Interest		Gain		Realized		Included in		Average			Average
														Income				Gain		Statement of		Income				Gain		Statement of		Coupon			Life
																				Operations								Operations
	Non-Agency RMBS		$	399,457,214	$	367,050,519		$	371,859,013		$	1,118,677		$	2,709,109	$	3,129,536	$	950,769	$	6,789,414	$	5,970,888	$	5,837,405	$	902,747	$	12,711,040		4.76	%		6.32
	ABS			-		-			-			-			-		-		-		-		230,160		61,870		1,041,444		1,333,474		-			-
	CMBS			-		-			-			-			208,153		641,313		1,661,167		2,510,633		660,386		731,559		1,661,167		3,053,112		-			-
	Total		$	399,457,214	$	367,050,519		$	371,859,013		$	1,118,677		$	2,917,262	$	3,770,849	$	2,611,936	$	9,300,047	$	6,861,434	$	6,630,834	$	3,605,358	$	17,097,626		4.76	%		6.32
	The following table presents certain information related to the repurchase agreements accounted for as a part of linked transactions as of September 30, 2013:
	Instrument		Repurchase		Weighted				Weighted
			Agreement		Average				Average Years
					Interest Rate				to Maturity
	Non-Agency RMBS		$	213,681,000		1.91	%			0.07
	CMBS			15,584,000		1.34	%			0.06
			$	229,265,000		1.87	%			0.07
	The following table presents certain information related to the repurchase agreements accounted for as a part of linked transactions as of September 30, 2012:
	Instrument		Repurchase		Weighted				Weighted
			Agreement		Average				Average Years
					Interest Rate				to Maturity
	Non-Agency RMBS		$	274,292,769		1.82	%			0.05
			$	274,292,769		1.82	%			0.05

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	'
	As of September 30, 2013 and September 30, 2012, the Company’s outstanding warrants and unvested shares of restricted common stock were as follows:
		September 30, 2013		September 30, 2012
	Warrants	1,007,500		2,366,500
	Restricted stock granted to the Manager	13,418		26,834
	Restricted stock granted to the independent directors	2,500		4,000
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the three and nine months ended September 30, 2013 and September 30, 2012:
		Three Months Ended			Three Months Ended		Nine Months Ended		Nine Months Ended
		September 30, 2013			September 30, 2012		September 30, 2013		September 30, 2012
	Numerator:
	Net income/(loss) available to common stockholders for basic and diluted earnings per share	$	2,633,165		$	60,430,279	$	-58,566,023	$	116,298,495
	Denominator:
	Basic weighted average common shares outstanding		28,359,937			19,336,154		27,906,946		16,439,100
	Dilutive effect of manager and director restricted stock and warrants		6			126,830		-		10,350
	Dilutive weighted average common shares outstanding		28,359,943			19,462,984		27,906,946		16,449,450
	Basic Earnings/(Loss) Per Share of Common Stock:	$	0.09		$	3.13	$	-2.1	$	7.07
	Diluted Earnings/(Loss) Per Share of Common Stock:	$	0.09		$	3.1	$	-2.1	$	7.07

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Details Textual) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Significant Accounting Policies Disclosure [Line Items]	'	'	'	'
Description Of Real Estate Investment Trust For Federal Income Tax Purposes	'	'	'As a REIT, if the Company fails to distribute in any calendar year at least the sum of (i)85% of its ordinary income for such year, (ii)95% of its capital gain net income for such year, and (iii)any undistributed taxable income from the prior year, the Company would be subject to a non-deductible 4% excise tax on the excess of such required distribution over the sum of (i)the amounts actually distributed and (ii)the amounts of income retained and on which the Company has paid corporate income tax.	'
Income Tax Expense (Benefit)	$122,979	$0	$2,778,758	$0
Sale Of Investment [Member]	'	'	'	'
Significant Accounting Policies Disclosure [Line Items]	'	'	'	'
Income Tax Expense (Benefit)	$100,000	'	$2,800,000	'

Real_Estate_Securities_Details

Real Estate Securities (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	$4,200,780,968		$5,728,061,705
Premium (Discount)	-662,470,822		-1,254,195,565
Amortized Cost	3,538,310,146		4,473,866,140
Gross Unrealized Gains	36,244,519	[1]	76,850,598	[1]
Gross Unrealized Losses	-33,473,436	[1]	-13,687,958	[1]
Fair Value	3,541,081,229		4,537,028,780
Weighted Average Coupon	3.74%	[2]	3.92%	[2]
Weighted Average Yield	3.65%		3.22%
Agency RMBS: 15 Year Fixed Rate [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	581,988,428		1,177,320,487
Premium (Discount)	17,501,848		46,922,089
Amortized Cost	599,490,276		1,224,242,576
Gross Unrealized Gains	6,713,307	[1]	24,223,576	[1]
Gross Unrealized Losses	-401,924	[1]	-255,956	[1]
Fair Value	605,801,659		1,248,210,196
Weighted Average Coupon	3.13%	[2]	2.97%	[2]
Weighted Average Yield	2.49%		2.08%
Agency RMBS: 20 Year Fixed Rate [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	321,962,591		137,858,353
Premium (Discount)	8,400,055		6,696,803
Amortized Cost	330,362,646		144,555,156
Gross Unrealized Gains	1,146,805	[1]	3,569,538	[1]
Gross Unrealized Losses	-1,960,675	[1]	0	[1]
Fair Value	329,548,776		148,124,694
Weighted Average Coupon	3.36%	[2]	3.68%	[2]
Weighted Average Yield	2.61%		2.78%
Agency RMBS: 30 Year Fixed Rate [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	1,121,864,732		1,998,807,425
Premium (Discount)	64,647,503		116,173,790
Amortized Cost	1,186,512,235		2,114,981,215
Gross Unrealized Gains	2,501,531	[1]	32,180,328	[1]
Gross Unrealized Losses	-13,804,211	[1]	-3,423,448	[1]
Fair Value	1,175,209,555		2,143,738,095
Weighted Average Coupon	4.01%	[2]	3.63%	[2]
Weighted Average Yield	3.24%		2.75%
Agency RMBS: ARM [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	505,107,796		36,228,319
Premium (Discount)	-2,166,104		1,584,714
Amortized Cost	502,941,692		37,813,033
Gross Unrealized Gains	2,184,823	[1]	362,721	[1]
Gross Unrealized Losses	-1,165,382	[1]	0	[1]
Fair Value	503,961,133		38,175,754
Weighted Average Coupon	2.40%	[2]	2.96%	[2]
Weighted Average Yield	2.85%		2.34%
Agency RMBS: Interest Only [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	723,052,361		972,543,812
Premium (Discount)	-587,290,862		-763,342,056
Amortized Cost	135,761,499	[3]	209,201,756	[3]
Gross Unrealized Gains	4,089,505	[1]	5,162,683	[1]
Gross Unrealized Losses	-7,339,875	[1]	-6,746,027	[1]
Fair Value	132,511,129	[3]	207,618,412	[3]
Weighted Average Coupon	4.87%	[2],[3]	6.00%	[2],[3]
Weighted Average Yield	6.46%		7.00%
Non-Agency RMBS [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	734,330,229		634,277,808
Premium (Discount)	-116,094,638		-87,414,086
Amortized Cost	618,235,591		546,863,722
Gross Unrealized Gains	18,964,449	[1]	6,704,413	[1]
Gross Unrealized Losses	-7,165,097	[1]	-1,396,738	[1]
Fair Value	630,034,943		552,171,397
Weighted Average Coupon	3.79%	[2]	4.65%	[2]
Weighted Average Yield	5.86%		5.44%
Credit Investments Abs [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	100,516,816		33,620,881
Premium (Discount)	-390,000		-36,289
Amortized Cost	100,126,816		33,584,592
Gross Unrealized Gains	3,600	[1]	352,505	[1]
Gross Unrealized Losses	-786,093	[1]	0	[1]
Fair Value	99,344,323		33,937,097
Weighted Average Coupon	3.80%	[2]	5.34%	[2]
Weighted Average Yield	3.91%		5.44%
CMBS [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	59,600,315		96,536,946
Premium (Discount)	-1,431,259		-2,094,604
Amortized Cost	58,169,056		94,442,342
Gross Unrealized Gains	640,499	[1]	2,956,780	[1]
Gross Unrealized Losses	-636,265	[1]	-82,588	[1]
Fair Value	58,173,290		97,316,534
Weighted Average Coupon	4.98%	[2]	5.51%	[2]
Weighted Average Yield	6.08%		6.36%
Credit Investments Interest Only [Member]	'		'
Assets Sold under Agreements to Repurchase [Line Items]	'		'
Current Face	52,357,700		640,867,674
Premium (Discount)	-45,647,365		-572,685,926
Amortized Cost	6,710,335		68,181,748
Gross Unrealized Gains	0	[1]	1,338,054	[1]
Gross Unrealized Losses	-213,914	[1]	-1,783,201	[1]
Fair Value	$6,496,421		$67,736,601
Weighted Average Coupon	1.92%	[2]	2.13%	[2]
Weighted Average Yield	6.20%		5.50%
[1]	We have chosen to make a fair value elect ion pursuant t o ASC 825 for our real estate securit ies port folio. Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securit ies and loans, net line item. T he gross unrealized stated above represent s incept ion to date unrealized gains (losses).
[2]	Equity residual investments and principal only securities with a zero coupon rate are excluded from this calculation.
[3]	Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities. Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.

Real_Estate_Securities_Details1

Real Estate Securities (Details 1) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Securities Collateral Information Disclosure [Line Items]	'	'
Less than Twelve Months, Fair Value	$1,433,208,629	$777,773,600
Less than Twelve Months, Unrealized Losses	-26,017,110	-11,267,980
Greater than Twelve Months, Fair Value	126,040,631	4,872,469
Greater than Twelve Months, Unrealized Losses	($7,456,326)	($2,419,978)

Real_Estate_Securities_Details2

Real Estate Securities (Details 2) (USD $)	Sep. 30, 2013		Dec. 31, 2012
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	$3,541,081,229		$4,537,028,780
Amortized Cost	3,538,310,146		4,473,866,140
Weighted Average Coupon	3.74%	[1]	3.92%	[1]
Residential Mortgage Backed Securities [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	2,614,521,123	[2]	3,578,248,738	[2]
Amortized Cost	2,619,306,849	[2]	3,521,591,980	[2]
Weighted Average Coupon	3.41%	[2]	3.40%	[2]
Residential Mortgage Backed Securities [Member] | Less Than Or Equal To 1 Year [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	0	[2]	0	[2]
Amortized Cost	0	[2]	0	[2]
Weighted Average Coupon	0.00%	[2]	0.00%	[2]
Residential Mortgage Backed Securities [Member] | Greater Than One Year and Less Than Or Equal To Five Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	371,707,085	[2]	868,542,200	[2]
Amortized Cost	366,135,897	[2]	846,760,882	[2]
Weighted Average Coupon	3.06%	[2]	2.97%	[2]
Residential Mortgage Backed Securities [Member] | Greater Than Five Years and Less Than Or Equal To Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	1,908,110,089	[2]	2,458,784,128	[2]
Amortized Cost	1,913,113,696	[2]	2,424,996,350	[2]
Weighted Average Coupon	3.44%	[2]	3.58%	[2]
Residential Mortgage Backed Securities [Member] | Greater Than Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	334,703,949	[2]	250,922,410	[2]
Amortized Cost	340,057,256	[2]	249,834,748	[2]
Weighted Average Coupon	3.58%	[2]	3.13%	[2]
Residential Mortgage Backed Securities Interest Only [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	132,511,129	[2]	207,618,412	[2]
Amortized Cost	135,761,499	[2]	209,201,756	[2]
Weighted Average Coupon	4.87%	[1],[2]	6.00%	[1],[2]
Residential Mortgage Backed Securities Interest Only [Member] | Less Than Or Equal To 1 Year [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	6,864,808	[2]	0	[2]
Amortized Cost	6,966,019	[2]	0	[2]
Weighted Average Coupon	4.50%	[2]	0.00%	[2]
Residential Mortgage Backed Securities Interest Only [Member] | Greater Than One Year and Less Than Or Equal To Five Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	99,938,503	[2]	166,406,425	[2]
Amortized Cost	102,293,744	[2]	165,968,688	[2]
Weighted Average Coupon	5.01%	[2]	6.03%	[2]
Residential Mortgage Backed Securities Interest Only [Member] | Greater Than Five Years and Less Than Or Equal To Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	25,707,818	[2]	41,211,988	[2]
Amortized Cost	26,501,736	[2]	43,233,067	[2]
Weighted Average Coupon	4.39%	[2]	5.91%	[2]
Residential Mortgage Backed Securities Interest Only [Member] | Greater Than Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	0	[2]	0	[2]
Amortized Cost	0	[2]	0	[2]
Weighted Average Coupon	0.00%	[2]	0.00%	[2]
Collateralized Securities, Other [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	794,048,977	[2],[3]	751,161,629	[2],[3]
Amortized Cost	783,241,798	[2],[3]	743,072,403	[2],[3]
Weighted Average Coupon	3.76%	[2],[3]	3.54%	[2],[3],[4]
Collateralized Securities, Other [Member] | Less Than Or Equal To 1 Year [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	50,106,408	[2],[3]	3,748,025	[2],[3]
Amortized Cost	50,260,798	[2],[3]	3,759,750	[2],[3]
Weighted Average Coupon	3.40%	[2],[3]	0.75%	[2],[3],[4]
Collateralized Securities, Other [Member] | Greater Than One Year and Less Than Or Equal To Five Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	371,561,679	[2],[3]	374,224,663	[2],[3]
Amortized Cost	364,096,337	[2],[3]	368,468,808	[2],[3]
Weighted Average Coupon	3.41%	[2],[3]	2.94%	[2],[3],[4]
Collateralized Securities, Other [Member] | Greater Than Five Years and Less Than Or Equal To Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	347,024,604	[2],[3]	354,247,135	[2],[3]
Amortized Cost	343,923,426	[2],[3]	351,908,850	[2],[3]
Weighted Average Coupon	4.11%	[2],[3]	5.16%	[2],[3],[4]
Collateralized Securities, Other [Member] | Greater Than Ten Years [Member]	'		'
Weighted Average Life By Agency RMBS, Agency IO And Other Securities [Line Items]	'		'
Fair Value	25,356,286	[2],[3]	18,941,806	[2],[3]
Amortized Cost	$24,961,237	[2],[3]	$18,934,995	[2],[3]
Weighted Average Coupon	5.23%	[2],[3]	1.12%	[2],[3],[4]
[1]	Equity residual investments and principal only securities with a zero coupon rate are excluded from this calculation.
[2]	Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities. Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal.
[3]	For purposes of this table, Other Securities represents the following Credit Investments held as of September 30, 2013, Non-Agency RMBS, ABS, CMBS and Interest Only.
[4]	Equity residual investments with a zero coupon rate are excluded from this calculation.

Real_Estate_Securities_Details3

Real Estate Securities (Details Textual) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Real Estate Securities Disclosure [Line Items]	'	'	'	'	'
Securities, Gross Realized Gains	$4,300,000	$2,000,000	$17,100,000	$11,300,000	'
Securities, Gross Realized Losses	39,200,000	100,000	73,400,000	1,800,000	'
Proceeds From Sale Of Mortgage Backed Securities (Mbs) Categorized As Trading	'	'	3,143,631,407	733,698,851	'
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Debt Securities, Total	0	'	0	'	'
Commercial Real Estate [Member]	'	'	'	'	'
Real Estate Securities Disclosure [Line Items]	'	'	'	'	'
Equity Method Investments	16,100,000	'	16,100,000	'	'
Equity Method Investment Weighted Average	'	'	12.43%	'	'
Residential Mortgage Backed Securities [Member]	'	'	'	'	'
Real Estate Securities Disclosure [Line Items]	'	'	'	'	'
Other than Temporary Impairment Losses, Investments	'	'	3,100,000	'	'
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Debt Securities, Total	7,900,000	0	7,900,000	0	'
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Change in Status	6,700,000	'	51,100,000	'	'
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Cash Flows	1,200,000	'	48,000,000	'	'
Settled Securities [Member]	'	'	'	'	'
Real Estate Securities Disclosure [Line Items]	'	'	'	'	'
Number Of Securities Sold	90	4	155	24	'
Proceeds From Sale Of Mortgage Backed Securities (Mbs) Categorized As Trading	1,600,000,000	'	'	'	'
Unsettled Securities [Member]	'	'	'	'	'
Real Estate Securities Disclosure [Line Items]	'	'	'	'	'
Proceeds From Unsettled Securities	106,200,000	11,100,000	'	'	'
Proceeds From Sale Of Mortgage Backed Securities (Mbs) Categorized As Trading	'	284,100,000	3,000,000,000	733,700,000	'
Proceeds from Issuance of Secured Debt	'	'	$106,200,000	'	$96,300,000

Loans_Details

Loans (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Current Face, Commerical Loans	$30,000,000		$2,500,000
Premium (Discount), Commercial Loans	176,568		0
Amortized Cost, Commercial Loans	30,176,568		2,500,000
Gross Unrealized Gains, Commercial Loans	0	[1]	0	[1]
Gross Unrealized Losses,Commercial Loans	-176,568	[1]	0	[1]
Fair Value, Commercial Loans	$30,000,000		$2,500,000
Weighted Average Coupon, Commercial Loans	9.00%		9.63%
Weighted Average Yield, Commercial Loans	9.87%		9.63%
Weighted Average Life, Commercial Loans	'2 years 9 months 22 days		'3 years 6 months 4 days
[1]	We have chosen to make a fair value election pursuant to ASC 825 for our loan portfolio. Unrealized gains and losses are recognized in current period earnings in the unrealized gain/(loss) on real estate securities and loans, net line item. The gross unrealized stated above represents inception to date unrealized gains (losses).

Loans_Details_Textual

Loans (Details Textual) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Gain (Loss) on Investments [Line Items]	'
Proceeds from Sale of Loans Held-for-sale	$2.60
Gain (Loss) on Sales of Loans, Net	$0.10

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
Liabilities, Total [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	($53,503,121)	($36,375,947)
Assets, Total [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	3,654,137,624	4,584,651,604
Derivative Financial Instruments, Liabilities [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-3,477,340	-36,375,947
Obligation to return securities borrowed under reverse repurchase agreements	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-50,025,781	'
Derivative Assets [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	31,970,483	'
Agency RMBS: 15 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	605,801,659	1,248,210,196
Agency RMBS: 20 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	329,548,776	148,124,694
Agency RMBS: 30 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	1,175,209,555	2,143,738,095
Agency RMBS: ARM [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	503,961,133	38,175,754
Agency RMBS: Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	132,511,129	207,618,412
Credit Investments Non-Agency Rmbs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	630,034,943	552,171,397
Credit Investments Abs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	99,344,323	33,937,097
Credit Investments CMBS [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	58,173,290	97,316,534
Credit Investments Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	6,496,421	67,736,601
Commercial Mortgage Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	'	2,500,000
Commercial Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	30,000,000	'
Linked Securiites [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	51,085,912	45,122,824
Fair Value, Inputs, Level 1 [Member] | Liabilities, Total [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-50,025,781	0
Fair Value, Inputs, Level 1 [Member] | Assets, Total [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Obligation to return securities borrowed under reverse repurchase agreements	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-50,025,781	'
Fair Value, Inputs, Level 1 [Member] | Agency RMBS: 15 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Agency RMBS: 20 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Agency RMBS: 30 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Agency RMBS: ARM [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Agency RMBS: Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Credit Investments Non-Agency Rmbs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Credit Investments Abs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Credit Investments CMBS [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Credit Investments Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | Commercial Mortgage Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	'	0
Fair Value, Inputs, Level 1 [Member] | Commercial Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	'
Fair Value, Inputs, Level 1 [Member] | Linked Securiites [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Liabilities, Total [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-3,477,340	-36,375,947
Fair Value, Inputs, Level 2 [Member] | Assets, Total [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	3,314,768,280	4,255,098,941
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	-3,477,340	-36,375,947
Fair Value, Inputs, Level 2 [Member] | Obligation to return securities borrowed under reverse repurchase agreements	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	0	'
Fair Value, Inputs, Level 2 [Member] | Derivative Assets [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	31,970,483	'
Fair Value, Inputs, Level 2 [Member] | Agency RMBS: 15 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	605,801,659	1,248,210,196
Fair Value, Inputs, Level 2 [Member] | Agency RMBS: 20 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	329,548,776	148,124,694
Fair Value, Inputs, Level 2 [Member] | Agency RMBS: 30 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	1,175,209,555	2,143,738,095
Fair Value, Inputs, Level 2 [Member] | Agency RMBS: ARM [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	503,961,133	38,175,754
Fair Value, Inputs, Level 2 [Member] | Agency RMBS: Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	132,511,129	207,618,412
Fair Value, Inputs, Level 2 [Member] | Credit Investments Non-Agency Rmbs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	460,961,995	297,127,840
Fair Value, Inputs, Level 2 [Member] | Credit Investments Abs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Credit Investments CMBS [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	30,829,391	63,249,824
Fair Value, Inputs, Level 2 [Member] | Credit Investments Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	67,736,601
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	'	2,500,000
Fair Value, Inputs, Level 2 [Member] | Commercial Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	'
Fair Value, Inputs, Level 2 [Member] | Linked Securiites [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	43,974,159	38,617,525
Fair Value, Inputs, Level 3 [Member] | Liabilities, Total [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Assets, Total [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	339,369,344	329,552,663
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Obligation to return securities borrowed under reverse repurchase agreements	'	'
Liabilities	'	'
Liabilities, Fair Value Disclosure	0	'
Fair Value, Inputs, Level 3 [Member] | Derivative Assets [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	'
Fair Value, Inputs, Level 3 [Member] | Agency RMBS: 15 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Agency RMBS: 20 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Agency RMBS: 30 Year Fixed Rate [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Agency RMBS: ARM [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Agency RMBS: Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Credit Investments Non-Agency Rmbs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	169,072,948	255,043,557
Fair Value, Inputs, Level 3 [Member] | Credit Investments Abs [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	99,344,323	33,937,097
Fair Value, Inputs, Level 3 [Member] | Credit Investments CMBS [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	27,343,899	34,066,710
Fair Value, Inputs, Level 3 [Member] | Credit Investments Interest Only [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	6,496,421	0
Fair Value, Inputs, Level 3 [Member] | Commercial Mortgage Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	'	0
Fair Value, Inputs, Level 3 [Member] | Commercial Loans [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	30,000,000	'
Fair Value, Inputs, Level 3 [Member] | Linked Securiites [Member]	'	'
Assets	'	'
Assets, Fair Value Disclosure	$7,111,753	$6,505,299

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 1) (USD $)	Dec. 31, 2012	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2013		Sep. 30, 2013		Sep. 30, 2013		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
	Non-Agency Rmbs [Member]	Non-Agency Rmbs [Member]		Non-Agency Rmbs [Member]		Non-Agency Rmbs [Member]		Non-Agency Rmbs [Member]		Credit Investments Abs [Member]		Credit Investments Abs [Member]		Credit Investments Abs [Member]		Credit Investments Abs [Member]		Linked Transactions [Member]		Linked Transactions [Member]		Linked Transactions [Member]		Linked Transactions [Member]		Commercial Loans [Member]		Commercial Loans [Member]		Interest only [Member]		Interest only [Member]		CMBS [Member]		CMBS [Member]		CMBS [Member]		CMBS [Member]
		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]		Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'
Beginning balance	$255,043,557	$217,503,196		$54,922,912		$255,043,557		$28,407,005		$97,916,107		$13,509,441		$33,937,097		$4,526,620		$6,089,083		$15,107,657		$6,425,683	[1]	$5,277,317		$30,000,000		$0		$6,592,026		$0		$22,779,730		$7,509,275		$34,066,710		$0
Transfers:	'	'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'
Transfers into level 3	'	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]
Transfers out of level 3	'	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	0	[2]	'	[2]
Purchases	'	14,967,242		36,414,561		112,712,253		74,924,292		11,610,000		17,824,181		139,603,404		41,328,345		2,674,853		19,459,549		5,333,022		86,418,809		0		30,017,825		0		7,048,720		4,462,500		22,441,133		4,462,500		32,166,758
Reclassification of security type	'	0	[3]	71,069,657	[3]	0	[3]	71,069,657	[3]	0	[3]	'	[3]	0	[3]	0	[3]	0	[3]	-23,016,762	[3]	0	[3]	-23,016,762	[3]	0	[3]	0	[3]	0	[3]	0	[3]	0	[3]	45,265,490	[3]	0	[3]	45,265,490	[3]
Proceeds from sales	'	-57,972,354		0		-185,283,901		0		0		0		-41,105,832		0		-567,000		-2,004,063		-567,000		-2,004,063		0		0		0		0		0		0		-10,041,297		0
Proceeds from settlement	'	-2,427,774		-7,752,426		-14,815,085		-19,766,596		-11,487,436		0		-32,076,184		-15,092,531		-1,116,717		-1,349,363		-3,512,076		-59,858,923		0		0		'		0		0		-6,296,687		-58,631		-8,553,875
Total net gains/ (losses)	'	'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'		'
Included in net income	'	-2,997,362	[4]	-57,427	[4]	1,416,124	[4]	-37,081	[4]	1,305,652	[4]	2,479	[4]	-1,014,162	[4]	573,667	[4]	31,534	[4]	196,656	[4]	-567,876	[4]	1,577,296	[4]	0	[4]	-17,825	[4]	-95,605	[4]	-552,299	[4]	101,669	[4]	1,003,769	[4]	-1,085,383	[4]	1,044,607	[4]
Included in other comprehensive income (loss)	'	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]	0	[4]
Ending Balance	255,043,557	169,072,948		154,597,277		169,072,948		154,597,277		99,344,323		31,336,101		99,344,323		31,336,101		7,111,753	[1]	8,393,674		7,111,753	[1]	8,393,674		30,000,000		30,000,000		6,496,421		6,496,421		27,343,899		69,922,980		27,343,899		69,922,980
Change in unrealized appreciation/depreciation for level 3 assets still held as of September 30, 2013	'	($1,972,852)	[4]	($57,427)	[4]	($1,206,175)	[4]	($37,080)	[4]	$1,305,652	[4]	$2,479	[4]	($782,493)	[4]	$12,660	[4]	$50,778	[4]	$192,593	[4]	($664,102)	[4]	$397,873	[4]	$0	[4]	($17,825)	[4]	$47,010	[4]	($213,915)	[4]	$93,343	[4]	$1,003,769	[4]	($730,024)	[4]	$1,044,608	[4]
[1]	Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.
[2]	Transfers are assumed to occur at the beginning of the period.
[3]	Represents an accounting reclassification from a linked transaction to a real estate security due to event occuring which breaks the link.
[4]	Gains/(losses) are recorded in the following line items in the consolidated statement of operations

Fair_Value_Measurements_Detail2

Fair Value Measurements (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Interest income	($17,954,672)	$40,867,928	($124,455,988)	$73,479,533
Net realized gain/ (loss)	-45,247,890	4,105,323	-116,489,235	14,087,123
Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Gain on linked transactions, net	50,778	192,593	-664,102	397,873
Unrealized gain/(loss) on real estate securities and loans, net	-526,847	952,706	-2,950,432	1,066,657
Interest income	'	-3,885	'	-46,470
Total	-476,069	1,141,414	-3,614,534	1,418,060
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'
Gain on linked transactions, net	152,946	196,656	-489,068	1,577,296
Unrealized gain/(loss) on real estate securities and loans, net	-530,032	952,706	-4,713,939	1,622,980
Interest income	37,573	-3,885	475,040	-41,787
Net realized gain/ (loss)	-1,314,599	'	2,906,546	'
Total	($1,654,112)	$1,145,477	($1,821,421)	$3,158,489

Fair_Value_Measurements_Detail3

Fair Value Measurements (Details 3) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012		Jun. 30, 2013	Sep. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
Non-Agency Rmbs [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	'		$255,043,557		'	'	'	'
Non-Agency Rmbs [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	169,072,948		255,043,557		217,503,196	154,597,277	54,922,912	28,407,005
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'DiscountedCashFlow		'	'	'	'
Non-Agency Rmbs [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'Yield		'	'	'	'
Non-Agency Rmbs [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	7.90%		9.60%		'	'	'	'
Non-Agency Rmbs [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	3.35%		4.43%		'	'	'	'
Non-Agency Rmbs [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	4.97%		5.90%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Prepayments [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Prepayments		'ProjectedCollateralPrepayments		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Prepayments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	6.00%		9.00%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Prepayments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	3.50%		1.00%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Prepayments [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	4.13%		4.41%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Losses [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Losses		'		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Losses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	9.00%		16.00%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Losses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.50%		0.20%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Losses [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	1.78%		2.03%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Severities [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Severities		'ProjectedCollateralSeverities		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Severities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	80.00%		75.00%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Severities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	20.00%		40.00%		'	'	'	'
Non-Agency Rmbs [Member] | Projected Collateral Severities [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	67.03%		55.27%		'	'	'	'
Abs [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	99,344,323		33,937,097		97,916,107	31,336,101	13,509,441	4,526,620
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'DiscountedCashFlow		'	'	'	'
Abs [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'Yield		'	'	'	'
Abs [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	5.40%		7.05%		'	'	'	'
Abs [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	3.69%		4.66%		'	'	'	'
Abs [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	3.91%		5.77%		'	'	'	'
Abs [Member] | Projected Collateral Prepayments [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'		'ProjectedCollateralPrepayments		'	'	'	'
Abs [Member] | Projected Collateral Prepayments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		100.00%		'	'	'	'
Abs [Member] | Projected Collateral Prepayments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		20.00%		'	'	'	'
Abs [Member] | Projected Collateral Prepayments [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		59.72%		'	'	'	'
Abs [Member] | Projected Collateral Losses [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'		'ProjectedCollateralLosses		'	'	'	'
Abs [Member] | Projected Collateral Losses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Abs [Member] | Projected Collateral Losses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Abs [Member] | Projected Collateral Losses [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Abs [Member] | Projected Collateral Severities [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'		'ProjectedCollateralSeverities		'	'	'	'
Abs [Member] | Projected Collateral Severities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Abs [Member] | Projected Collateral Severities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Abs [Member] | Projected Collateral Severities [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		0.00%		'	'	'	'
Linked Transactions [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	7,111,753	[1]	6,425,683	[1]	6,089,083	8,393,674	15,107,657	5,277,317
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'DiscountedCashFlow		'	'	'	'
Linked Transactions [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'Yield		'	'	'	'
Linked Transactions [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	7.62%		10.93%		'	'	'	'
Linked Transactions [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	4.95%		4.14%		'	'	'	'
Linked Transactions [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	5.81%		5.59%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Prepayments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	5.00%		25.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Prepayments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Prepayments [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	1.17%		0.94%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Losses [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Losses		'ProjectedCollateralLosses		'	'	'	'
Linked Transactions [Member] | Projected Collateral Losses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	5.00%		35.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Losses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Losses [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	1.17%		16.25%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Severities [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Severities		'ProjectedCollateralSeverities		'	'	'	'
Fair Value Input Interest Rate	16.36%		'		'	'	'	'
Linked Transactions [Member] | Projected Collateral Severities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	70.00%		65.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Severities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
Linked Transactions [Member] | Projected Collateral Severities [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	'		34.32%		'	'	'	'
Commercial Loans [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	30,000,000		0		30,000,000	'	'	'
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'		'	'	'	'
Commercial Loans [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'		'	'	'	'
Commercial Loans [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	9.87%		'		'	'	'	'
Commercial Loans [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	9.87%		'		'	'	'	'
Commercial Loans [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	9.87%		'		'	'	'	'
Credit Investments Interest Only [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	6,496,421		0		6,592,026	'	'	'
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'		'	'	'	'
Credit Investments Interest Only [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'		'	'	'	'
Credit Investments Interest Only [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	6.21%		'		'	'	'	'
Credit Investments Interest Only [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	6.16%		'		'	'	'	'
Credit Investments Interest Only [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	6.20%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Prepayments [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Prepayments		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Prepayments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	100.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Prepayments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	100.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Prepayments [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	100.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Losses [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Losses		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Losses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Losses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Losses [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Severities [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Severities		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Severities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Severities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
Credit Investments Interest Only [Member] | Projected Collateral Severities [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		'		'	'	'	'
CMBS [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$27,343,899		$34,066,710		$22,779,730	$69,922,980	$7,509,275	$0
Fair Value Measurements, Valuation Techniques	'Discounted Cash Flow		'DiscountedCashFlow		'	'	'	'
CMBS [Member] | Yield [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Yield		'Yield		'	'	'	'
CMBS [Member] | Yield [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	7.62%		5.76%		'	'	'	'
CMBS [Member] | Yield [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	4.00%		2.23%		'	'	'	'
CMBS [Member] | Yield [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	5.55%		5.05%		'	'	'	'
CMBS [Member] | Projected Collateral Prepayments [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Prepayments		'ProjectedCollateralLosses		'	'	'	'
CMBS [Member] | Projected Collateral Prepayments [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Prepayments [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Prepayments [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Losses [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Losses		'		'	'	'	'
CMBS [Member] | Projected Collateral Losses [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Losses [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Losses [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Severities [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Measurements Unobservable Input Description	'Projected Collateral Severities		'ProjectedCollateralSeverities		'	'	'	'
CMBS [Member] | Projected Collateral Severities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Severities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
CMBS [Member] | Projected Collateral Severities [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member]	'		'		'	'	'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'		'	'	'	'
Fair Value Input Interest Rate	0.00%		0.00%		'	'	'	'
[1]	Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS and CMBS investments.

Repurchase_Agreements_Details

Repurchase Agreements (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets Sold under Agreements to Repurchase [Line Items]	'	'
Balance	$2,965,095,409	$3,911,419,818
Weighted Average Rate	0.69%	0.70%
Weighted Average Haircut	8.40%	6.50%
30 days or less [Member]	'	'
Assets Sold under Agreements to Repurchase [Line Items]	'	'
Balance	1,331,373,000	2,242,856,547
Weighted Average Rate	0.84%	0.71%
Weighted Average Haircut	11.53%	7.28%
31-60 days [Member]	'	'
Assets Sold under Agreements to Repurchase [Line Items]	'	'
Balance	858,497,000	783,969,000
Weighted Average Rate	0.46%	0.52%
Weighted Average Haircut	6.39%	4.04%
61-90 days [Member]	'	'
Assets Sold under Agreements to Repurchase [Line Items]	'	'
Balance	206,089,000	547,416,000
Weighted Average Rate	0.42%	0.57%
Weighted Average Haircut	7.63%	3.49%
Greater than 90 days [Member]	'	'
Assets Sold under Agreements to Repurchase [Line Items]	'	'
Balance	$569,136,409	$337,178,271
Weighted Average Rate	0.77%	1.30%
Weighted Average Haircut	4.36%	11.95%

Repurchase_Agreements_Details_

Repurchase Agreements (Details 1) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Schedule Of Securities Collateral Information Line Items [Line Items]	'	'
Repurchase agreements secured by Agency RMBS	$2,373,094,000	$3,346,676,000
Fair Value of Agency RMBS pledged as collateral under repurchase agreements	2,551,904,769	3,489,393,062
Repurchase agreements secured by Non-Agency RMBS, ABS and CMBS	592,001,409	564,743,818
Fair Value of Non-Agency RMBS, ABS and CMBS pledged as collateral under repurchase agreements	773,074,747	711,699,379
Net Cash pledged (i.e., restricted cash) under repurchase agreements	$82,709	$1,500,000

Repurchase_Agreements_Details_1

Repurchase Agreements (Details 2) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	($2,965,095,409)	($3,911,419,818)
Gross Amounts Of Recognized Assets (Liabilities) [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	2,965,095,409	3,911,419,818
Gross Amounts Offset In Statement Of Financial Position [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	0	0
Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	2,965,095,409	3,911,419,818
Gross Amounts Not Offset In Statement Of Financial Instruments [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	2,965,095,409	3,911,419,818
Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	0	0
Net Amount [Member]	'	'
Gross And Net Information About Repurchase Agreement Disclosure [Line Items]	'	'
Repurchase agreements	$0	$0

Repurchase_Agreements_Details_2

Repurchase Agreements (Details Textual) (USD $)	0 Months Ended	9 Months Ended
	Apr. 09, 2012	Sep. 30, 2013	Apr. 12, 2013	Dec. 31, 2012
Repurchase Agreement Disclosure [Line Items]	'	'	'	'
Repurchase Agreements Average Minimum Number Of Days	'	'30 days	'	'
Repurchase Agreement Average Maximum Number Of Days	'	'90 days	'	'
Stock Holders Equity Percentage At Risk	'	'	'	10.00%
Repurchase Agreement Maximum Number Of Days	'90 days	'	'	'
Repurchase Agreement Maximum Borrowing Capacity	'	'	$75,000,000	'
Adjusted Tangible Net Worth	'	'	430,000,000	'
Liquidity Available	'	'	30,000,000	'
Minimum Unrestricted Cash To Be Maintained	'	'	5,000,000	'
Linked Transaction Under Repurchase Agreement	'	229,300,000	'	282,300,000
Maximum borrowing capacity on renewal of repurchase agreement	'	'	125,000,000	'
Linked Transaction member [Member]	'	'	'	'
Repurchase Agreement Disclosure [Line Items]	'	'	'	'
Repurchase Agreement Counterparty, Amount at Risk	'	$0	'	'
At Risk Percentage	'	0.00%	'	'

Derivatives_Details

Derivatives (Details) (Non-Hedge [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
Notional amount of Interest Rate Swap Agreements [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	($1,856,442)	($36,238,250)
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	31,686,108	0
TBAs [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	-1,620,898	-137,697
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	284,375	0
Linked transactions, at fair value [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	$51,085,912	$45,122,824

Derivatives_Details_1

Derivatives (Details 1) (USD $)	Sep. 30, 2013		Dec. 31, 2012
Derivative [Line Items]	'		'
Derivative, Notional Amount	$2,643,000,000		$2,166,025,000
Notional amount of Interest Rate Swap Agreements [Member] | Non-Hedge [Member]	'		'
Derivative [Line Items]	'		'
Derivative, Notional Amount	2,643,000,000	[1]	2,166,025,000	[1]
Net Notional Amount Of TBAs [Member] | Non-Hedge [Member]	'		'
Derivative [Line Items]	'		'
Derivative, Notional Amount	25,000,000		40,000,000
Notional amount of Linked Transactions [Member] | Non-Hedge [Member]	'		'
Derivative [Line Items]	'		'
Derivative, Notional Amount	$311,676,369	[2]	$349,775,342	[2]
[1]	Includes forward starting swaps with a notional of $0.0 million and $100.0 million as of September 30, 2013 and December 31, 2012, respectively.
[2]	Represents the current face of the securities comprising linked transactions.

Derivatives_Details_2

Derivatives (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Interest rate swaps [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Derivative Instruments Not Designated as Hedging Instruments, Loss	($5,700,547)	($13,734,963)	$69,649,295	($26,251,451)
Derivative Instruments Not Designated as Hedging Instruments, Gain	-2,207,074	-65,012	-9,294,517	-332,127
TBAs [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Derivative Instruments Not Designated as Hedging Instruments, Loss	1,022,755	363,477	-1,198,828	-541,682
Derivative Instruments Not Designated as Hedging Instruments, Gain	153,578	-353,516	-423,571	1,363,750
Notional amount of Linked Transactions [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Gain (Loss) on Settlement of Derivative Instrument	2,060,270	6,688,111	6,558,879	13,492,268
Realized Gain (Loss) On Linked Transaction	($2,580,055)	$2,611,936	($4,262,338)	$3,605,358

Derivatives_Details_3

Derivatives (Details 3) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Of Recognized Assets (Liabilities) [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Gross Amounts Offset In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Net Amounts Of Assets Liabilities Presented In Statement Of Financial Position [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Financial Instruments [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Gross Amounts Not Offset In Statement Of Cash Collateral Posted [Member]

Net Amount [Member]

Net Amount [Member]

Net Amount [Member]

Net Amount [Member]

Net Amount [Member]

Net Amount [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Interest Rate Swaps, At Fair Value [Member]

Interest Rate Swaps, At Fair Value [Member]

To Be Announced Securities [Member]

To Be Announced Securities [Member]

Schedule Of Gross And Net Information About Derivative Instruments Line Items [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Linked transactions, net, at fair value

$51,085,912

$45,122,824

'

'

$279,655,499

[1]

$326,589,623

[2]

'

'

'

'

($229,265,000)

[1]

($282,343,454)

[2]

'

'

'

'

$50,390,499

[1]

$44,246,169

[2]

'

'

'

'

$50,390,499

[1]

$0

[2]

'

'

'

'

$0

[1]

$0

[2]

'

'

'

'

$0

[1]

$0

[2]

'

'

'

'

Receivable Under Reverse Repurchase Agreements

'

'

'

'

50,125,000

'

'

'

'

'

0

'

'

'

'

'

50,125,000

'

'

'

'

'

50,025,781

'

'

'

'

'

0

'

'

'

'

'

99,219

'

'

'

'

'

Derivative assets, at fair value

31,970,483

0

284,375

2,936,328

43,386,393

[3]

'

43,102,018

[3]

'

284,375

[3]

'

-3,143,638

[3]

'

-3,143,638

[3]

'

0

[3]

'

40,242,755

[3]

'

39,958,380

[3]

'

284,375

[3]

'

0

[3]

'

0

[3]

'

0

[3]

'

16,570,000

[3]

'

16,290,000

[3]

'

280,000

[3]

'

23,672,755

[3]

'

23,668,380

[3]

'

4,375

[3]

'

Derivative liabilities, at fair value

$3,477,340

$36,375,947

$1,620,898

$2,572,851

($5,140,879)

[4]

($30,836,609)

[5]

($1,610,997)

[4]

($30,698,913)

[5]

($3,529,882)

[4]

($137,696)

[5]

$2,770,634

[4]

$258,652

[5]

$861,650

[4]

$258,652

[5]

$1,908,984

[4]

$0

[5]

($2,370,245)

[4]

($30,577,957)

[5]

($749,347)

[4]

($30,440,261)

[5]

($1,620,898)

[4]

($137,696)

[5]

($1,620,898)

[4]

($30,440,261)

[5]

$0

[4]

($30,440,261)

[5]

($1,620,898)

[4]

$0

[5]

($749,347)

[4]

$0

[5]

($749,347)

[4]

$0

[5]

$0

[4]

$0

[5]

$0

[4]

$0

[5]

$0

[4]

$0

[5]

$0

[4]

$0

[5]

[1]

Included in Linked Transactions on the consolidated balance sheet is security fair market value of $279,655,499, repurchase agreements of $(229,265,000) and net accrued interest of $695,413 for a total of $51,085,912.

[2]

Included in Linked Transactions on the consolidated balance sheet is security fair market value of $326,589,623, repurchase agreements of $(282,343,454) and net accrued interest of $876,655 for a total of $45,122,824.

[3]

Included in Derivative Assets on the consolidated balance sheet is $40,242,755 less accrued interest of $(8,272,272) for a total of $31,970,483.

[4]

Included in Derivative Liabilities on the consolidated balance sheet is $(2,370,245) plus accrued interest of $(1,107,095) for a total of $(3,477,340).

[5]

Included in Derivative Liabilities on the consolidated balance sheet is $(30,577,957) less accrued interest of $(5,797,990) for a total of $(36,375,947).

Derivatives_Details_4

Derivatives (Details 4) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2013		Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	$2,643,000,000		$2,166,025,000
Weighted Average Pay Rate	1.45%		1.17%
Weighted Average Receive Rate	0.26%		0.31%
Weighted Average Years to Maturity	'5 years 7 months 13 days		'4 years 5 months 1 day
2014 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	'		204,500,000
Weighted Average Pay Rate	'		1.00%
Weighted Average Receive Rate	'		0.33%
Weighted Average Years to Maturity	'		'1 year 6 months 14 days
2015 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	'		364,025,000
Weighted Average Pay Rate	'		1.08%
Weighted Average Receive Rate	'		0.30%
Weighted Average Years to Maturity	'		'2 years 5 months 1 day
2016 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	180,000,000		367,500,000
Weighted Average Pay Rate	0.90%		1.08%
Weighted Average Receive Rate	0.26%		0.30%
Weighted Average Years to Maturity	'2 years 8 months 16 days		'3 years 4 months 10 days
2017 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	335,000,000		410,000,000
Weighted Average Pay Rate	1.05%		1.02%
Weighted Average Receive Rate	0.26%		0.31%
Weighted Average Years to Maturity	'3 years 11 months 12 days		'4 years 8 months 12 days
2018 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	818,000,000		320,000,000	[1]
Weighted Average Pay Rate	1.28%		1.31%	[1]
Weighted Average Receive Rate	0.26%		0.31%	[1]
Weighted Average Years to Maturity	'4 years 8 months 1 day		'5 years 6 months 22 days	[1]
2019 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	350,000,000		450,000,000	[1]
Weighted Average Pay Rate	1.38%		1.39%	[1]
Weighted Average Receive Rate	0.26%		0.31%	[1]
Weighted Average Years to Maturity	'5 years 9 months 18 days		'6 years 6 months 22 days	[1]
2020 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	665,000,000		'
Weighted Average Pay Rate	1.70%		'
Weighted Average Receive Rate	0.26%		'
Weighted Average Years to Maturity	'6 years 6 months 22 days		'
2022 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	50,000,000		50,000,000
Weighted Average Pay Rate	1.69%		1.69%
Weighted Average Receive Rate	0.26%		0.31%
Weighted Average Years to Maturity	'8 years 11 months 5 days		'9 years 8 months 5 days
2023 [Member]	'		'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'		'
Derivative, Notional Amount	$245,000,000	[2]	'
Weighted Average Pay Rate	2.37%	[2]	'
Weighted Average Receive Rate	0.26%	[2]	'
Weighted Average Years to Maturity	'9 years 8 months 16 days	[2]	'
[1]	These figures include forward starting swaps with a total notional of $100.0 million and a weighted average start date of April 2, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of December 31, 2012.
[2]	This figure includes a forward starting swap with a total notional of $25.0 million and a start date of October 1, 2013. Weighted average rates shown are inclusive of rates corresponding to the terms of the swap as if the swap were effective as of September 30, 2013.

Derivatives_Details_5

Derivatives (Details 5) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			TBAs [Member]	TBAs [Member]	TBAs [Member]	TBAs [Member]
Schedule Of To Be Announced Securities Activity [Line Items]	'	'	'	'	'	'
Beginning Notional Amount	$2,643,000,000	$2,166,025,000	($150,000,000)	$0	$40,000,000	$100,000,000
Additions	'	'	623,000,000	275,000,000	1,543,000,000	495,000,000
Sale or Settlement	'	'	-498,000,000	-275,000,000	-1,608,000,000	-595,000,000
Ending Net Notional Amount	2,643,000,000	2,166,025,000	-25,000,000	0	-25,000,000	0
Net Fair Value as of Period End	-24,431,640	'	-24,431,640	0	-24,431,640	0
Net Payable To Broker	23,095,117	'	23,095,117	363,477	23,095,117	363,477
Derivative Asset	31,970,483	0	284,375	2,936,328	284,375	2,936,328
Derivative Liability	($3,477,340)	($36,375,947)	($1,620,898)	($2,572,851)	($1,620,898)	($2,572,851)

Derivatives_Details_6

Derivatives (Details 6) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Linked Transaction Disclosure [Line Items]	'	'	'	'	'
Current Face	$2,643,000,000	'	$2,643,000,000	'	$2,166,025,000
Net Accrued Interest	2,837,294	'	2,837,294	'	3,204,205
Net Interest Income	27,693,865	24,056,506	94,414,155	51,658,711	'
Unrealized Gain	'	'	3,898,885	-6,630,834	'
Repurchase Agreement	2,965,095,409	'	2,965,095,409	'	3,911,419,818
Weighted Average Interest Rate	0.69%	'	0.69%	'	0.70%
Linked Transactions [Member]	'	'	'	'	'
Linked Transaction Disclosure [Line Items]	'	'	'	'	'
Current Face	311,676,369	399,457,214	311,676,369	399,457,214	'
Amortized Cost	275,416,315	367,050,519	275,416,315	367,050,519	'
Fair Value	279,655,499	371,859,013	279,655,499	371,859,013	'
Net Accrued Interest	695,413	1,118,677	695,413	1,118,677	'
Net Interest Income	2,912,942	2,917,262	10,457,764	6,861,434	'
Unrealized Gain	-852,672	3,770,849	-3,898,885	6,630,834	'
Net Realized Gain	-2,580,055	2,611,936	-4,262,338	3,605,358	'
Amount Included in Statement of Operations	-519,785	9,300,047	2,296,541	17,097,626	'
Weighted Average Coupon	3.95%	4.76%	3.95%	4.76%	'
Weighted Average Life	'	'	'4 years 9 months 14 days	'6 years 3 months 25 days	'
Repurchase Agreement	229,265,000	274,292,769	229,265,000	274,292,769	'
Weighted Average Interest Rate	1.87%	1.82%	1.87%	1.82%	'
Weighted Average Years to Maturity	'	'	'25 days	'18 days	'
Non-Agency Rmbs [Member] | Linked Transactions [Member]	'	'	'	'	'
Linked Transaction Disclosure [Line Items]	'	'	'	'	'
Current Face	287,806,369	399,457,214	287,806,369	399,457,214	'
Amortized Cost	253,545,104	367,050,519	253,545,104	367,050,519	'
Fair Value	258,164,346	371,859,013	258,164,346	371,859,013	'
Net Accrued Interest	657,323	'	657,323	'	'
Net Interest Income	2,750,860	2,709,109	9,969,921	5,970,888	'
Unrealized Gain	-1,095,697	3,129,536	-3,592,194	5,837,405	'
Net Realized Gain	-2,458,643	950,769	-4,060,548	902,747	'
Amount Included in Statement of Operations	-803,480	6,789,414	2,317,179	12,711,040	'
Weighted Average Coupon	4.09%	4.76%	4.09%	4.76%	'
Weighted Average Life	'	'	'4 years 10 months 6 days	'6 years 3 months 25 days	'
Repurchase Agreement	213,681,000	274,292,769	213,681,000	274,292,769	'
Weighted Average Interest Rate	1.91%	1.82%	1.91%	1.82%	'
Weighted Average Years to Maturity	'	'	'25 days	'18 days	'
Credit Investments Abs [Member] | Linked Transactions [Member]	'	'	'	'	'
Linked Transaction Disclosure [Line Items]	'	'	'	'	'
Current Face	'	0	'	0	'
Amortized Cost	'	0	'	0	'
Fair Value	'	0	'	0	'
Net Accrued Interest	'	'	'	'	'
Net Interest Income	'	0	'	230,160	'
Unrealized Gain	'	0	'	61,870	'
Net Realized Gain	'	0	'	1,041,444	'
Amount Included in Statement of Operations	'	0	'	1,333,474	'
Weighted Average Coupon	'	0.00%	'	0.00%	'
Weighted Average Life	'	'	'	'0 years	'
CMBS [Member] | Linked Transactions [Member]	'	'	'	'	'
Linked Transaction Disclosure [Line Items]	'	'	'	'	'
Current Face	23,870,000	0	23,870,000	0	'
Amortized Cost	21,871,211	0	21,871,211	0	'
Fair Value	21,491,153	0	21,491,153	0	'
Net Accrued Interest	38,090	'	38,090	'	'
Net Interest Income	162,082	208,153	487,843	660,386	'
Unrealized Gain	243,025	641,313	-306,691	731,559	'
Net Realized Gain	-121,412	1,661,167	-201,790	1,661,167	'
Amount Included in Statement of Operations	283,695	2,510,633	-20,638	3,053,112	'
Weighted Average Coupon	2.32%	0.00%	2.32%	0.00%	'
Weighted Average Life	'	'	'4 years 1 month 13 days	'0 years	'
Repurchase Agreement	$15,584,000	'	$15,584,000	'	'
Weighted Average Interest Rate	1.34%	'	1.34%	'	'
Weighted Average Years to Maturity	'	'	'22 days	'	'

Derivatives_Details_Textual

Derivatives (Details Textual) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Jun. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Dec. 31, 2011

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Jun. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Linked Transactions [Member]

Linked Transactions [Member]

Non-Agency Rmbs [Member]

Non-Agency Rmbs [Member]

Non-Agency Rmbs [Member]

Non-Agency Rmbs [Member]

TBAs [Member]

TBAs [Member]

TBAs [Member]

TBAs [Member]

TBAs [Member]

TBAs [Member]

Forward Contracts [Member]

Forward Contracts [Member]

CMBS [Member]

CMBS [Member]

CMBS [Member]

CMBS [Member]

Restricted Cash [Member]

Restricted Cash [Member]

Accrued Interest [Member]

US Treasury Securities [Member]

US Treasury Securities [Member]

US Treasury Securities [Member]

Real Estate Investment [Member]

Real Estate Investment [Member]

Repurchase Agreements [Member]

Derivative [Member]

Derivative [Member]

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Securities Held as Collateral, at Fair Value

'

'

'

'

'

$279,700,000

$371,900,000

$30,200,000

$118,800,000

$43,400,000

$125,700,000

'

'

'

'

'

'

'

'

$45,300,000

$45,300,000

'

'

'

'

'

'

'

'

$7,300,000

$46,500,000

Derivative, Notional Amount

2,643,000,000

'

2,643,000,000

'

2,166,025,000

'

'

'

'

'

'

-25,000,000

-150,000,000

40,000,000

0

0

100,000,000

25,000,000

100,000,000

'

'

'

'

19,000,000

2,600,000

'

'

'

'

'

'

Trading Securities, Fair Value Disclosure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

64,669,711

148,365,887

'

'

-8,272,272

'

'

'

'

'

Repurchase Agreement Borrowing Security

'

'

'

'

'

'

'

24,100,000

97,200,000

35,700,000

102,400,000

'

'

'

'

'

'

'

'

37,100,000

37,100,000

'

'

'

'

'

'

'

'

'

'

Net Realized Gains From Unlinking Of Linked Transactions

400,000

2,600,000

100,000

2,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative assets, at fair value

31,970,483

'

31,970,483

'

0

'

'

'

'

'

'

284,375

'

'

2,936,328

'

'

'

'

'

'

'

'

'

'

-8,272,272

'

'

'

'

'

Derivative liabilities, at fair value

3,477,340

'

3,477,340

'

36,375,947

'

'

'

'

'

'

1,620,898

'

'

2,572,851

'

'

'

'

'

'

'

'

'

'

-1,107,095

'

'

'

'

'

Linked transactions, net, at fair value

51,085,912

'

51,085,912

'

45,122,824

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Debt Securities, Total

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Linked Transactions Gross

279,655,499

'

279,655,499

'

326,589,623

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

LinkedTransactionRepurchaseAgreement

-229,265,000

'

-229,265,000

'

282,343,454

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

LinkedTransactionsAccrued Interest

695,413

'

695,413

'

876,655

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets Before Accrued Interest

40,242,755

'

40,242,755

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets Accrued Interest

-8,272,272

'

-8,272,272

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Assets, At Fair Value

31,970,483

'

31,970,483

'

0

'

'

'

'

'

'

284,375

'

'

2,936,328

'

'

'

'

'

'

'

'

'

'

-8,272,272

'

'

'

'

'

Derivative Liabilities Before Accrued Interest

-2,370,245

'

-2,370,245

'

30,577,957

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liabilities Accrued Interest

-1,107,095

'

-1,107,095

'

5,797,990

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Liabilities, At Fair Value

3,477,340

'

3,477,340

'

36,375,947

'

'

'

'

'

'

1,620,898

'

'

2,572,851

'

'

'

'

'

'

'

'

'

'

-1,107,095

'

'

'

'

'

Fair Value Of Borrowed Securities Under Reverse Repurchase agreement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

50,000,000

'

'

Repurchase agreement Securities Maturity Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'7 years 7 months 6 days

'

'

Collateralized Securities Under Reverse repurchase Agreement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,100,000

'

50,100,000

'

'

Unrealized Loss on Securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,100,000

'

'

'

'

Realized Investment Gains (Losses), Total

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0

'

'

'

Earnings_per_Share_Details

Earnings per Share (Details)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
Class of Warrant or Right [Line Items]	'	'	'
Warrants	1,007,500	'	2,366,500
Common stock, shares outstanding	28,360,046	26,961,936	'
Restricted Stock [Member] | Manager [Member]	'	'	'
Class of Warrant or Right [Line Items]	'	'	'
Common stock, shares outstanding	13,418	'	26,834
Restricted Stock [Member] | Director [Member]	'	'	'
Class of Warrant or Right [Line Items]	'	'	'
Common stock, shares outstanding	2,500	'	4,000

Earnings_per_Share_Details_1

Earnings per Share (Details 1) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:	'	'	'	'
Net income/(Loss) available to common stockholders for basic and diluted earnings per share	$2,633,165	$60,430,279	($58,566,023)	$116,298,495
Denominator:	'	'	'	'
Basic weighted average common shares outstanding (in shares)	28,359,937	19,336,154	27,906,946	16,439,100
Dilutive effect of manager and director restricted stock and warrants (in shares)	6	126,830	0	10,350
Dilutive weighted average common shares outstanding (in shares)	28,359,943	19,462,984	27,906,946	16,449,450
Basic Earnings Per Share of Common Stock: (in dollars per share)	$0.09	$3.13	($2.10)	$7.07
Diluted Earnings Per Share of Common Stock: (in dollars per share)	$0.09	$3.10	($2.10)	$7.07

Earnings_per_Share_Details_Tex

Earnings per Share (Details Textual)	9 Months Ended
	Sep. 30, 2013
Schedule of Earning Per Share Basic And Diluted [Line Items]	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	61,215

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Tax Disclosure [Line Items]	'	'	'	'
Income Tax Expense (Benefit)	$122,979	$0	$2,778,758	$0
Sale Of Investment [Member]	'	'	'	'
Income Tax Disclosure [Line Items]	'	'	'	'
Income Tax Expense (Benefit)	$100,000	'	$2,800,000	'

Related_Party_Transactions_Det

Related Party Transactions (Details Textual) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Jul. 06, 2011	Jul. 06, 2011	Sep. 30, 2013
					Manager Equity Incentive Plan [Member]	Equity Incentive Plan [Member]	Equity Incentive Plan [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'
Management fee to affiliate	$2,500,000	$1,700,000	$8,200,000	$3,900,000	'	'	'
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	'	'	'	'	40,250	1,500	'
Share-Based Compensation Arrangement By Share-Based Payment Award, Shares Issued In Period	'	'	'	'	'	277,500	'
Noninterest Expense Directors Fees	'	'	60,000	'	'	'	'
Directors Fees Paid In Cash Percentage	50.00%	'	50.00%	'	'	'	'
Directors Fees Restricted Common Stock Percentage	50.00%	'	50.00%	'	'	'	'
Expense Reimbursement Received For Rights Waived	'	900,000	'	1,800,000	'	'	'
Non Reimbursable expenses Incurred By Manager	$1,600,000	'	$4,400,000	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	'	'	'	'	'	'	500
Management Fee Percentage	1.50%	'	1.50%	'	'	'	'

Equity_Details_Textual

Equity (Details Textual) (USD $)

0 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

1 Months Ended

1 Months Ended

Aug. 03, 2012

Dec. 26, 2012

Sep. 27, 2012

Aug. 15, 2012

Jan. 24, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 06, 2012

Sep. 30, 2013

Aug. 03, 2012

Sep. 27, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Aug. 03, 2012

Sep. 30, 2013

Aug. 15, 2012

Aug. 15, 2012

Jan. 24, 2012

Jul. 13, 2012

Sep. 27, 2012

Series A Preferred Stock [Member]

8.25% Series A Cumulative Redeemable Preferred Stock [Member]

8.00% Series B Cumulative Redeemable Preferred Stock [Member]

Series A Preferred Stocks [Member]

Series A Preferred Stocks [Member]

Series B Preferred Stocks [Member]

Series B Preferred Stocks [Member]

Cash Less Warrants [Member]

Cash Less Warrants [Member]

Cash Excercise Warrants [Member]

Cash Excercise Warrants [Member]

Cash Excercise Warrants [Member]

Underwriter [Member]

Sale Agents [Member]

IPO [Member]

Underwriters Over-Allotment Option [Member]

Underwriters Over-Allotment Option [Member]

Underwriters Over-Allotment Option [Member]

Underwriters Over-Allotment Option [Member]

8.25% Series A Cumulative Redeemable Preferred Stock [Member]

8.00% Series B Cumulative Redeemable Preferred Stock [Member]

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock Issued During Period Shares New Issues

'

3,750,000

'

'

5,000,000

'

'

'

'

'

'

'

1,800,000

4,000,000

'

'

'

'

'

'

'

'

'

270,000

1,254,854

6,000,000

900,000

750,000

'

600,000

Sale of Stock, Price Per Share

'

$24.33

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$25

'

'

$23.29

$19

'

'

Proceeds from issuance of common stock

'

$91,200,000

$115,000,000

$160,700,000

$109,300,000

'

'

$33,176,288

$259,664,211

'

'

'

$51,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Offering costs paid

'

'

'

'

5,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds From Issuance Of Common Stock Net

'

87,500,000

111,300,000

152,700,000

104,000,000

'

'

'

'

'

'

'

49,900,000

'

'

'

'

'

'

'

'

'

'

'

31,300,000

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

38,307

20,101

163,749

196,250

163,749

'

'

'

'

'

'

'

Stock Issued During Period, Value, Stock Options Exercised

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

4,000,000

3,400,000

'

'

'

'

'

'

'

Common stock, shares authorized

'

'

'

'

'

450,000,000

'

450,000,000

'

450,000,000

3,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Liquidation Preference, Value (in dollars per share)

$25

'

$25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$25

Capital Available For Issuance

'

'

'

'

'

549,500,000

'

549,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000,000

'

Dividend

8.25%

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends, Common Stock, Stock

'

'

'

'

'

$17,000,000

$17,600,000

$61,700,000

$39,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends Declared per Share of Common Stock

'

'

'

'

'

$0.60

$0.77

$2.20

$2.17

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Dividends Per Share, Declared

'

'

'

'

'

'

'

'

'

'

'

$0.25

'

'

$0.52

$1.55

$0.50

$1.50

'

'

'

'

'

'

'

'

'

'

'

'