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DERIVATIVE INSTRUMENTS (Details) (USD $)
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
DERIVATIVE INSTRUMENTS      
Notional $ 813,701,900   $ 1,034,450,000
Fair value, Asset 838,922   8,244,355
Fair value, Liability 10,411,959   7,031,033
Unrealized Gain/(Loss) (10,507,734) (3,825,956)  
Realized Gain/(Loss) (15,778,932) 6,095,665  
Net Result from Derivative Transactions (26,286,666) 2,269,709 (35,650,989)
Cash margins held as collateral for derivatives by counterparties 25,958,202   21,959,114
Cash collateral held by counterparty 25,958,202   21,959,114
Caps 1MO LIB
      
DERIVATIVE INSTRUMENTS      
Notional     71,250,000
Remaining Maturity     1 month 20 days
Variable interest rate     1MO LIB
Unrealized Gain/(Loss)   819  
Net Result from Derivative Transactions   819  
Futures
      
DERIVATIVE INSTRUMENTS      
Notional 649,200,000   798,700,000
Fair value, Asset 543,834   7,992,185
Fair value, Liability 2,922,704    
Unrealized Gain/(Loss) (10,371,054) (7,019,081)  
Realized Gain/(Loss) (14,781,407) 8,774,316  
Net Result from Derivative Transactions (25,152,461) 1,755,235  
5-years US T-Note
      
DERIVATIVE INSTRUMENTS      
Notional 79,600,000   45,000,000
Fair value, Asset 245,242   402,719
Fair value, Liability 891    
Remaining Maturity 3 months   3 months
Term of derivative contract 5 years   5 years
10-years US T-Note
      
DERIVATIVE INSTRUMENTS      
Notional 569,600,000   753,700,000
Fair value, Asset 298,592   7,589,466
Fair value, Liability 2,921,813    
Remaining Maturity 3 months   3 months
Term of derivative contract 10 years   10 years
Swaps 3MO LIB
      
DERIVATIVE INSTRUMENTS      
Notional 121,000,000   121,000,000
Fair value, Liability 6,878,440   6,420,495
Remaining Maturity 4 years 3 months 7 days   4 years 6 months 4 days
Variable interest rate 3MO LIB   3MO LIB
Unrealized Gain/(Loss) (179,320) 3,423,323  
Realized Gain/(Loss) (800,138) (1,346,948)  
Net Result from Derivative Transactions (979,458) 2,076,375  
Credit Derivatives
      
DERIVATIVE INSTRUMENTS      
Notional 43,501,900   43,500,000
Fair value, Asset 295,088   252,170
Fair value, Liability 610,815   610,538
Unrealized Gain/(Loss) 42,640 (231,017)  
Realized Gain/(Loss) (197,387) (1,331,703)  
Net Result from Derivative Transactions (154,747) (1,562,720)  
CMBX
      
DERIVATIVE INSTRUMENTS      
Notional 10,000,000   10,000,000
Fair value, Asset 211,170   252,170
Remaining Maturity 8 years 4 months 17 days   8 years 4 months 17 days
CDX
      
DERIVATIVE INSTRUMENTS      
Notional 33,500,000   33,500,000
Fair value, Liability 610,815   610,538
Remaining Maturity 4 years 8 months 23 days   4 years 11 months 19 days
S&P 500 Put Options 3/4/14
      
DERIVATIVE INSTRUMENTS      
Notional 1,900    
Fair value, Asset $ 83,918    
Remaining Maturity 5 months 19 days