Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Assets and Liabilities Fair Value Recurring Basis (Details 1)

v3.4.0.3
FAIR VALUE - Assets and Liabilities Fair Value Recurring Basis (Details 1)
Mar. 31, 2016
USD ($)
Secutiy
contract
Dec. 31, 2015
USD ($)
Apr. 30, 2010
Secutiy
Derivative assets:      
Real estate securities, available-for-sale: $ 9,791,000    
Real estate securities, pledged as collateral 381,206,000 $ 105,963,000  
Carrying Value      
Derivative assets:      
Real estate securities, pledged as collateral 381,206,000    
TBAs, not treated as hedges 165,000    
Derivative liabilities:      
TBAs, not treated as hedges 1,063,000    
Estimated Fair Value      
Derivative assets:      
Real estate securities, pledged as collateral 381,206,000    
TBAs, not treated as hedges 165,000    
Derivative assets total 165,000    
Derivative liabilities:      
TBAs, not treated as hedges 1,063,000    
Derivative liabilities total 1,063,000    
CMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Derivative liabilities:      
Outstanding Face Amount 10,308,000    
Non-Agency RMBS      
Derivative assets:      
Real estate securities, available-for-sale: $ 2,847,000    
Derivative liabilities:      
Number of Securities | contract 1    
Outstanding Face Amount $ 4,000,000    
CDO      
Derivative assets:      
Real estate securities, available-for-sale: $ 9,791,000    
Derivative liabilities:      
Number of Securities 2   2
Outstanding Face Amount $ 14,699,000    
FNMA/FHLMC      
Derivative assets:      
Real estate securities, available-for-sale: $ 12,638,000    
Derivative liabilities:      
Number of Securities | contract 4    
Outstanding Face Amount $ 363,080,000    
Non-consolidated CDO Securities      
Derivative liabilities:      
Outstanding Face Amount 0    
Level 2 - Observable      
Derivative assets:      
Real estate securities, pledged as collateral 381,206,000    
Level 2 - Observable | Estimated Fair Value      
Derivative assets:      
Derivative assets total 165,000    
Derivative liabilities:      
Derivative liabilities total 1,063,000    
Level 2 - Observable | CMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 2 - Observable | Non-Agency RMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 2 - Observable | CDO      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 2 - Observable | FNMA/FHLMC      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 3 Inputs - Unobservable      
Derivative assets:      
Real estate securities, pledged as collateral 0    
Level 3 Inputs - Unobservable | Estimated Fair Value      
Derivative assets:      
Derivative assets total 0    
Derivative liabilities:      
Derivative liabilities total 0    
Level 3 Inputs - Unobservable | CMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 3 Inputs - Unobservable | Non-Agency RMBS      
Derivative assets:      
Real estate securities, available-for-sale: 2,847,000    
Level 3 Inputs - Unobservable | CDO      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 3 Inputs - Unobservable | FNMA/FHLMC      
Derivative assets:      
Real estate securities, available-for-sale: 2,847,000    
Level 3 Internal Pricing      
Derivative assets:      
Real estate securities, pledged as collateral 0    
Level 3 Internal Pricing | Estimated Fair Value      
Derivative assets:      
Derivative assets total 0    
Derivative liabilities:      
Derivative liabilities total 0    
Level 3 Internal Pricing | CMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 3 Internal Pricing | Non-Agency RMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Level 3 Internal Pricing | CDO      
Derivative assets:      
Real estate securities, available-for-sale: 9,791,000    
Level 3 Internal Pricing | FNMA/FHLMC      
Derivative assets:      
Real estate securities, available-for-sale: 9,791,000    
Measured on a Recurring Basis      
Derivative assets:      
Real estate securities, pledged as collateral 381,206,000    
Measured on a Recurring Basis | Carrying Value      
Derivative assets:      
Derivative assets total 165,000    
Derivative liabilities:      
Derivative liabilities total 1,063,000    
Measured on a Recurring Basis | CMBS      
Derivative assets:      
Real estate securities, available-for-sale: 0    
Measured on a Recurring Basis | Non-Agency RMBS      
Derivative assets:      
Real estate securities, available-for-sale: 2,847,000    
Measured on a Recurring Basis | CDO      
Derivative assets:      
Real estate securities, available-for-sale: 9,791,000    
Measured on a Recurring Basis | FNMA/FHLMC      
Derivative assets:      
Real estate securities, available-for-sale: 12,638,000    
Not designated as hedging instrument | Estimated Fair Value      
Derivative assets:      
TBAs, not treated as hedges 165,000    
Derivative liabilities:      
TBAs, not treated as hedges 1,063,000    
Not designated as hedging instrument | Level 2 - Observable | Estimated Fair Value      
Derivative assets:      
TBAs, not treated as hedges 165,000    
Derivative liabilities:      
TBAs, not treated as hedges 1,063,000    
Not designated as hedging instrument | Level 3 Inputs - Unobservable | Estimated Fair Value      
Derivative assets:      
TBAs, not treated as hedges 0    
Derivative liabilities:      
TBAs, not treated as hedges 0    
Not designated as hedging instrument | Level 3 Internal Pricing | Estimated Fair Value      
Derivative assets:      
TBAs, not treated as hedges 0    
Derivative liabilities:      
TBAs, not treated as hedges 0    
Not designated as hedging instrument | Measured on a Recurring Basis | Carrying Value      
Derivative assets:      
TBAs, not treated as hedges 165,000    
Derivative liabilities:      
TBAs, not treated as hedges $ 1,063,000    
Unlevered real estate securities | Other      
Derivative liabilities:      
Number of Securities | Secutiy 13    
Outstanding Face Amount $ 37,471,000    
Excluded from face amount of unlevered real estate securities $ 192,000,000