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Combined Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 18,400,822 $ 88,049,972
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,427,258 3,123,583
Unrealized (gain) loss on derivative instruments 10,507,734 4,252,531
Unrealized (gain) loss on Agency interest-only securities, net 1,034,146 249,900
Provision for loan losses 150,000 150,000
Amortization of equity based compensation 2,324,980 474,501
Amortization of deferred financing costs included in interest expense 1,349,475 844,409
Amortization of (premium) discount on long-term debt (142,440) (115,043)
Amortization of above- and below-market lease intangibles 154,756  
Accretion/amortization of discount, premium and other fees on loans and securities 17,144,061 12,212,508
Realized gain on sale of mortgage loan receivables (41,302,665) (83,007,462)
Realized gain on sale of real estate securities (1,808,815) (2,564,893)
Realized gain on sale of real estate (6,692,907) (3,697,548)
Origination of mortgage loan receivables held for sale (463,575,489) (843,902,500)
Repayment of mortgage loan receivables held for sale 316,067 545,079
Proceeds from sales of mortgage loan receivables held for sale 783,762,354 947,119,454
Accrued interest receivable (1,144,558) 1,069,347
Earnings on investment in unconsolidated joint ventures (348,175) (393,980)
Distributions of return on capital from investment in unconsolidated joint ventures 799,690  
Changes in operating assets and liabilities:    
Due to brokers 30,090,186  
Due from brokers (28,674,903) 1,855,858
Other assets (10,671,294) 4,695,523
Accrued expenses and other liabilities (22,722,816) 19,334,686
Net cash provided by (used in) operating activities 296,372,276 150,295,925
Cash flows used in investing activities:    
Cash collateral held by broker for derivatives 3,999,088 (2,854,716)
Purchase of derivative instruments   (20,000)
Purchases of real estate securities (201,657,200) (85,465,685)
Repayment of real estate securities 46,701,877 99,565,578
Proceeds from sales of real estate securities 58,286,280 41,635,894
Purchase of FHLB stock (950,000) (8,050,000)
Origination and purchases of mortgage loan receivables held for investment (147,570,705) (96,414,750)
Repayment of mortgage loan receivables held for investment 12,335,575 122,063,197
Reduction (addition) of cash collateral held by broker (8,073,526) (22,659,733)
Addition of deposits received for loan originations (863,615) 6,018,381
Security deposits included in other assets 2,007,219  
Capital contributions to investment in unconsolidated joint ventures   (782,654)
Distributions of return of capital from investment in unconsolidated joint ventures 1,500,000 461,729
Purchases of real estate and capital improvements (216,428) (22,990,741)
Proceeds from sale of real estate 19,935,817 8,045,319
Net cash provided by (used in) investing activities (214,565,618) 38,551,819
Cash flows from financing activities:    
Deferred financing costs (2,282,207) (415,000)
Repayment of repurchase agreements (1,644,254,432) (2,284,776,625)
Proceeds from repurchase agreements 1,405,389,678 1,873,020,837
Proceeds from borrowings under credit agreements   30,000,000
Proceeds from long-term financing 41,083,035 52,393,529
Repayment of long-term financing (57,082) (10,208)
Proceeds from FHLB borrowings 1,649,000,000 1,654,000,000
Repayments of FHLB borrowings (1,705,000,000) (1,493,000,000)
Partners' capital distributions (368,983) (31,796,354)
Capital contributed by a noncontrolling interest   656,262
Capital distributed to a noncontrolling interest (27,397,882)  
Issuance of common stock 259,037,500  
Common stock offering costs (20,232,759)  
Net cash provided by (used in) financing activities (45,083,132) (199,927,559)
Net increase (decrease) in cash 36,723,526 (11,079,815)
Cash and cash equivalents at beginning of period 78,742,257 45,178,565
Cash and cash equivalents at end of period 115,465,783 34,098,750
Supplemental information:    
Cash paid for interest 19,315,740 7,307,150
Cash paid for income taxes 1,094,686 2,412,720
Supplemental disclosure of non-cash investing activities:    
Transfer from mortgage loan receivables held for investment, at amortized cost to mortgage loan receivable held for sale   8,320,273
Supplemental disclosure of non-cash financing activities:    
Exchange of capital for common stock 483,567,974  
Exchange of noncontrolling interest for common stock 697,096,682  
Change in other comprehensive income related to change in deferred tax asset 305,950  
Rebalancing of ownership percentage between Company and Operating Partnership $ 14,666,762