Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - Narrative (Details)

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INVESTMENTS IN REAL ESTATE SECURITIES - Narrative (Details)
6 Months Ended
Jun. 25, 2015
USD ($)
loan
Jun. 30, 2015
USD ($)
Jun. 30, 2014
USD ($)
Schedule of Available-for-sale Securities [Line Items]      
Purchase of Non-Agency RMBS   $ 468,197,000 $ 1,057,464,000
Purchase of Agency RMBS   1,026,586,000 $ 354,838,000
Other-than-temporary impairment (OTTI) losses   1,700,000  
Real estate securities acquired during the period with credit quality deterioration, face amount   191,700,000  
Real estate securities acquired during the period with credit quality deterioration, expected cash flows   221,700,000  
Real estate securities acquired during the period with credit quality deterioration, fair value   137,600,000  
Non-Agency RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Face amount of securities purchased   901,400,000  
Purchase of Non-Agency RMBS   490,400,000  
Face amount of securities sold   441,100,000  
Amortized cost basis of securities sold   385,900,000  
Proceeds from sale of real estate securities   389,700,000  
Gain (loss) on sale of debt investments   3,800,000  
Number of trusts | loan 18    
Outstanding Face Amount $ 13,700,000.0    
Amortized cost basis of loans $ 9,100,000    
Agency RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Face amount of securities purchased   1,700,000,000  
Purchase of Agency RMBS   1,800,000,000  
Face amount of securities sold   2,300,000,000.0  
Amortized cost basis of securities sold   2,400,000,000  
Proceeds from sale of real estate securities   2,400,000,000  
Gain (loss) on sale of debt investments   $ 2,900,000