Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details Narrative)

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DEBT OBLIGATIONS (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended
Mar. 31, 2016
Jan. 31, 2016
Mar. 31, 2016
Mar. 31, 2015
Debt Instrument [Line Items]        
Outstanding Face Amount $ 867,411,000   $ 867,411,000  
Deferred financing costs 200,000   200,000  
Proceeds from sale of investments     361,341,000 $ 398,395,000
Junior subordinated notes payable        
Debt Instrument [Line Items]        
Outstanding Face Amount 51,004,000   $ 51,004,000  
Derivative, type of interest rate paid on swap     LIBOR  
Variable interest rate spread     2.25%  
Golf First Lien Loan        
Debt Instrument [Line Items]        
Variable interest rate spread     4.00%  
CDO Securities Repurchase Agreements        
Debt Instrument [Line Items]        
Interest Payable 600,000   $ 600,000  
Margin exposure 420,500,000.0   420,500,000.0  
Total Repurchase Agreements        
Debt Instrument [Line Items]        
Outstanding Face Amount 420,549,000   420,549,000  
Capital Leases (Equipment)        
Debt Instrument [Line Items]        
Outstanding Face Amount 11,124,000   $ 11,124,000  
Capital Leases (Equipment) | Lower Range        
Debt Instrument [Line Items]        
Debt instrument, term     36 months  
Capital Leases (Equipment) | Upper Range        
Debt Instrument [Line Items]        
Debt instrument, term     66 months  
Citi | Total Repurchase Agreements        
Debt Instrument [Line Items]        
Outstanding Face Amount 352,000,000.0   $ 352,000,000.0  
Credit Suisse | Total Repurchase Agreements        
Debt Instrument [Line Items]        
Outstanding Face Amount 68,500,000.0   $ 68,500,000.0  
FNMA/FHLMC        
Debt Instrument [Line Items]        
Repayments of repurchase agreements 352,000,000 $ 348,600,000    
Face amount of securities sold $ 347,500,000 $ 350,300,000    
Average price percentage - sold 104.90% 103.20%    
Proceeds from sale of investments $ 364,300,000 $ 361,300,000    
Gain on extinguishment of debt, net 5,900,000      
FNMA/FHLMC 2        
Debt Instrument [Line Items]        
Face amount of securities sold $ 363,100,000      
Average price percentage - sold 105.00%      
Proceeds from sale of investments $ 381,100,000 105,900,000    
Gain on extinguishment of debt, net $ 366,400,000      
Investment owned   102,700,000    
Proceeds from securities purchased under agreements to resell   $ 102,200,000    
Average price percentage - purchases   103.20%