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) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2016
Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]      
Other-than-temporary impairment   $ 3,254 $ 1,071
Real estate securities acquired during the period with credit quality deterioration, face amount   626,200  
Real estate securities acquired during the period with credit quality deterioration, expected cash flows   425,300  
Real estate securities acquired during the period with credit quality deterioration, fair value   341,700  
Non-Agency RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Face amount of securities sold   59,900  
Face amount of securities purchased $ 200,000 1,032,100  
Sale Price of Securities Sold   43,400  
Purchase Price of Securities Purchased 100,000 443,100  
Agency RMBS [Member]      
Schedule of Available-for-sale Securities [Line Items]      
Face amount of securities sold 1,400,000 1,632,600  
Face amount of securities purchased 1,300,000 2,216,700  
Sale Price of Securities Sold 1,500,000 1,698,300  
Purchase Price of Securities Purchased $ 1,300,000 $ 2,300,300