v2.4.1.9

Consolidated Condensed Schedule Of Investments (Financial Derivatives) (USD $) | 12 Months Ended
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Dec. 31, 2014 contracts | Dec. 31, 2013 contracts
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset | $ 80,029,000 us-gaap_DerivativeAssets | [1] | $ 59,664,000 us-gaap_DerivativeAssets | [1]
Derivative Liabilities | (66,116,000)us-gaap_DerivativeLiabilities | [1] | (44,791,000)us-gaap_DerivativeLiabilities | [1]
Net cost | 61,560,000 efc_DerivativesCost |  | 50,533,000 efc_DerivativesCost |
Net proceeds | (33,555,000)efc_DerivativesProceeds |  | (29,746,000)efc_DerivativesProceeds |
Eurodollar Future [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Future contract notional | 1,000,000 efc_FutureContractNotional / us-gaap_DerivativeByNatureAxis = us-gaap_EurodollarFutureMember |  | 1,000,000 efc_FutureContractNotional / us-gaap_DerivativeByNatureAxis = us-gaap_EurodollarFutureMember |
Future contract | 1 efc_FutureContract / us-gaap_DerivativeByNatureAxis = us-gaap_EurodollarFutureMember |  | 1 efc_FutureContract / us-gaap_DerivativeByNatureAxis = us-gaap_EurodollarFutureMember |
Long US Treasury Note Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Number of contracts | 1,346 efc_Numberofcontracts / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember |  | 1,847 efc_Numberofcontracts / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember |
Purchased Options on U.S. Treasury Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Number of contracts | 110 efc_Numberofcontracts / us-gaap_DerivativeByNatureAxis = efc_PurchasedOptionsonFuturesMember |  |  |
Financial Derivatives - Assets [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset, Notional Amount | 1,401,261,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Derivative Asset | 80,029,000 us-gaap_DerivativeAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 59,664,000 us-gaap_DerivativeAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Investment owned as a percentage of equity | 10.15%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] | 9.53%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[5]
Net cost | 61,560,000 efc_DerivativesCost / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 50,533,000 efc_DerivativesCost / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Asset Backed Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[3],[6] | Credit | [2],[4],[7]
Derivative Asset, Notional Amount | 3,734,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | 1,990,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[7]
Range of expiration dates |  |  | 2037-12 | [2],[4],[7]
Derivative Asset | 61,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | 61,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[7]
Net proceeds | (249,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | (217,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[7]
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Asset Backed Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2037-12 | [2],[3],[6] |  |
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Asset Backed Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2063-05 | [2],[3],[6] |  |
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Corporate Bond Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[3],[6] | Credit | [2],[4],[8]
Derivative Asset, Notional Amount | 311,983,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | 70,425,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[8]
Range of expiration dates |  |  | 2018-12 | [2],[4],[8]
Derivative Asset | 35,865,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | 14,273,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[8]
Net cost | 37,428,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[6] | 13,248,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[8]
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Corporate Bond Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2017-12 | [2],[3],[6] |  |
Financial Derivatives - Assets [Member] | Long Credit Default Swap On Corporate Bond Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-12 | [2],[3],[6] |  |
Financial Derivatives - Assets [Member] | Long Interest Rate Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [2],[3],[9] | Interest Rates | [2],[4],[9]
Derivative Asset, Notional Amount | 1,017,067,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[9] | 153,100,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[9]
Derivative Asset | 23,243,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[9] | 1,978,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[9]
Financial Derivatives - Assets [Member] | Long Interest Rate Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2016-07 | [2],[3],[9] | 2018-07 | [2],[4],[9]
Financial Derivatives - Assets [Member] | Long Interest Rate Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2044-12 | [2],[3],[9] | 2023-09 | [2],[4],[9]
Financial Derivatives - Assets [Member] | Long Total Return Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Equity Market | [10],[2],[3] | Equity Market | [10],[2],[4]
Derivative Asset, Notional Amount | 875,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[3] | 3,044,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[4]
Range of expiration dates | 2015-06 | [10],[2],[3] |  |
Derivative Asset | 8,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[3] | 4,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[4]
Financial Derivatives - Assets [Member] | Long Total Return Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates |  |  | 2014-06 | [10],[2],[4]
Financial Derivatives - Assets [Member] | Long Total Return Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates |  |  | 2015-06 | [10],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Securities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[3] | Credit | [12],[2],[4]
Derivative Asset, Notional Amount | (17,691,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [11],[2],[3] | (23,426,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [12],[2],[4]
Derivative Asset | 11,387,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [11],[2],[3] | 16,646,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [12],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Securities [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2034-09 | [11],[2],[3] | 2034-09 | [12],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Securities [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2036-05 | [11],[2],[3] | 2036-05 | [12],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[3] | Credit | [13],[2],[4]
Derivative Asset, Notional Amount | (50,981,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [11],[2],[3] | (72,422,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [13],[2],[4]
Derivative Asset | 1,820,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [11],[2],[3] | 4,876,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [13],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2046-05 | [11],[2],[3] | 2046-05 | [13],[2],[4]
Financial Derivatives - Assets [Member] | Short Credit Default Swap On Asset Backed Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2052-10 | [11],[2],[3] | 2063-05 | [13],[2],[4]
Financial Derivatives - Assets [Member] | Short Interest Rate Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [14],[2],[3] | Interest Rates | [14],[2],[4]
Derivative Asset, Notional Amount | (627,931,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [14],[2],[3] | (840,600,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [14],[2],[4]
Derivative Asset | 5,411,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [14],[2],[3] | 21,575,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [14],[2],[4]
Financial Derivatives - Assets [Member] | Short Interest Rate Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2016-10 | [14],[2],[3] | 2016-11 | [14],[2],[4]
Financial Derivatives - Assets [Member] | Short Interest Rate Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2044-12 | [14],[2],[3] | 2043-08 | [14],[2],[4]
Financial Derivatives - Assets [Member] | Short Total Return Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure |  |  | Equity Market | [10],[2],[4]
Derivative Asset, Notional Amount |  |  | (23,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[4]
Range of expiration dates |  |  | 2015-09 | [10],[2],[4]
Derivative Asset |  |  | 0 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [10],[2],[4]
Financial Derivatives - Assets [Member] | Swap [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset | 77,795,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 59,413,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Investment owned as a percentage of equity | 9.87%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] | 9.49%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[5]
Net cost | 59,299,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 50,039,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Financial Derivatives - Assets [Member] | Long US Treasury Note Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [15],[2],[3] |  |
Derivative Asset, Notional Amount | 109,300,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [15],[2],[3] |  |
Range of expiration dates | 2015-03 | [15],[2],[3] |  |
Derivative Asset | 162,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [15],[2],[3] |  |
Financial Derivatives - Assets [Member] | Long Eurodollar Future [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [16],[2],[3] |  |
Derivative Asset, Notional Amount | 11,000,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [16],[2],[3] |  |
Range of expiration dates | 2017-06 | [16],[2],[3] |  |
Derivative Asset | 7,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_LongEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [16],[2],[3] |  |
Financial Derivatives - Assets [Member] | Short Eurodollar Future [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [16],[2],[3] |  |
Derivative Asset, Notional Amount | (520,000,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [16],[2],[3] |  |
Derivative Asset | 92,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [16],[2],[3] |  |
Financial Derivatives - Assets [Member] | Short Eurodollar Future [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-09 | [16],[2],[3] |  |
Financial Derivatives - Assets [Member] | Short Eurodollar Future [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2017-09 | [16],[2],[3] |  |
Financial Derivatives - Assets [Member] | Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset | 261,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] |  |
Investment owned as a percentage of equity | 0.03%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] |  |
Financial Derivatives - Assets [Member] | Purchased Payer Swaption [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [17],[2],[3] |  |
Derivative Asset, Notional Amount | 822,800,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_PurchasedPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [17],[2],[3] |  |
Derivative Asset | 344,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_PurchasedPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [17],[2],[3] |  |
Financial Derivatives - Assets [Member] | Purchased Payer Swaption [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-01 | [17],[2],[3] |  |
Financial Derivatives - Assets [Member] | Purchased Payer Swaption [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-06 | [17],[2],[3] |  |
Financial Derivatives - Assets [Member] | Option on CDS on Corporate Bond Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [18],[2],[3] | Credit | [18],[2],[4]
Derivative Asset, Notional Amount | 364,400,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [18],[2],[3] | 22,588,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [18],[2],[4]
Range of expiration dates |  |  | 2014-06 | [18],[2],[4]
Derivative Asset | 625,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [18],[2],[3] | 190,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [18],[2],[4]
Financial Derivatives - Assets [Member] | Option on CDS on Corporate Bond Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-01 | [18],[2],[3] |  |
Financial Derivatives - Assets [Member] | Option on CDS on Corporate Bond Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-03 | [18],[2],[3] |  |
Financial Derivatives - Assets [Member] | Purchased Options on U.S. Treasury Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [19],[2],[3] |  |
Derivative Asset, Notional Amount | 11,000,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_PurchasedOptionsonFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [19],[2],[3] |  |
Derivative Asset | 20,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_PurchasedOptionsonFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [19],[2],[3] |  |
Financial Derivatives - Assets [Member] | Purchased Options on U.S. Treasury Futures [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-02 | [19],[2],[3] |  |
Financial Derivatives - Assets [Member] | Purchased Options on U.S. Treasury Futures [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-03 | [19],[2],[3] |  |
Financial Derivatives - Assets [Member] | Options [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset | 989,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 251,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Investment owned as a percentage of equity | 0.13%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] | 0.04%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4],[5]
Net cost | 2,161,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] | 494,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[4]
Financial Derivatives - Assets [Member] | Short Currency Forward [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Currency | [2],[20],[3] |  |
Derivative Asset, Notional Amount | (35,849,000)us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[20],[3] |  |
Range of expiration dates | 2015-03 | [2],[20],[3] |  |
Derivative Asset | 884,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[20],[3] |  |
Financial Derivatives - Assets [Member] | Forwards [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset | 884,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] |  |
Investment owned as a percentage of equity | 0.11%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] |  |
Financial Derivatives - Assets [Member] | Interest Rate Swaption [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure |  |  | Interest Rates | [17],[2],[4]
Derivative Asset, Notional Amount |  |  | 15,000,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_InterestRateSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [17],[2],[4]
Range of expiration dates |  |  | 2014-04 | [17],[2],[4]
Derivative Asset |  |  | 61,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_InterestRateSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [17],[2],[4]
Financial Derivatives - Assets [Member] | Warrant [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Equity Market | [2],[20],[21] |  |
Derivative Asset, Notional Amount | 1,554,000 us-gaap_DerivativeAssetNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_WarrantMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[21],[3] |  |
Derivative Asset | 100,000 us-gaap_DerivativeAssets / us-gaap_DerivativeByNatureAxis = us-gaap_WarrantMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[21],[3] |  |
Investment owned as a percentage of equity | 0.01%us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_WarrantMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3],[5] |  |
Net cost | 100,000 efc_DerivativesCost / us-gaap_DerivativeByNatureAxis = us-gaap_WarrantMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember | [2],[3] |  |
Financial Derivatives - Liabilities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liability, Notional Amount | (973,998,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Derivative Liabilities | (66,116,000)us-gaap_DerivativeLiabilities / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (44,791,000)us-gaap_DerivativeLiabilities / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Investment owned as a percentage of equity | (8.39%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[5] | (7.16%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[5]
Net proceeds | (33,555,000)efc_DerivativesProceeds / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (29,746,000)efc_DerivativesProceeds / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Asset Backed Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[22],[3],[6] | Credit | [2],[4],[7]
Derivative Liability, Notional Amount | 17,113,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | 44,082,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[7]
Derivative Liabilities | (4,248,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | (11,866,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[7]
Net proceeds | (5,160,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | (14,331,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[7]
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Asset Backed Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2049-03 | [2],[22],[3],[6] | 2049-12 | [2],[4],[7]
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Asset Backed Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2052-10 | [2],[22],[3],[6] | 2052-10 | [2],[4],[7]
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Corporate Bond Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[22],[3],[6] | Credit | [2],[4],[8]
Derivative Liability, Notional Amount | 3,756,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | 4,000,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[8]
Range of expiration dates | 2017-12 | [2],[22],[3],[6] | 2017-12 | [2],[4],[8]
Derivative Liabilities | (1,231,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | (1,047,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[8]
Net proceeds | (1,200,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] | (1,200,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[8]
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Corporate Bonds [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[22],[3],[6] |  |
Derivative Liability, Notional Amount | 4,428,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] |  |
Derivative Liabilities | (2,706,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] |  |
Net proceeds | (1,951,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_LongCreditDefaultSwapOnCorporateBondsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[6] |  |
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Corporate Bonds [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-06 | [2],[22],[3],[6] |  |
Financial Derivatives - Liabilities [Member] | Long Credit Default Swap On Corporate Bonds [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-12 | [2],[22],[3],[6] |  |
Financial Derivatives - Liabilities [Member] | Long Interest Rate Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [2],[22],[3],[9] | Interest Rates | [2],[4],[9]
Derivative Liability, Notional Amount | 230,410,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[9] | 234,600,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[9]
Derivative Liabilities | (678,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[9] | (2,857,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[9]
Financial Derivatives - Liabilities [Member] | Long Interest Rate Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2016-10 | [2],[22],[3],[9] | 2017-10 | [2],[4],[9]
Financial Derivatives - Liabilities [Member] | Long Interest Rate Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2044-12 | [2],[22],[3],[9] | 2043-07 | [2],[4],[9]
Financial Derivatives - Liabilities [Member] | Long Total Return Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Equity Market | [10],[2],[22],[3] | Equity Market | [10],[2],[4]
Derivative Liability, Notional Amount | 72,075,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[22],[3] | 47,974,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[4]
Range of expiration dates |  |  | 2015-06 | [10],[2],[4]
Derivative Liabilities | (21,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[22],[3] | 0 us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[4]
Financial Derivatives - Liabilities [Member] | Long Total Return Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-01 | [10],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Long Total Return Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2016-11 | [10],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Short Credit Default Swap On Asset Backed Securities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[22],[3] | Credit | [12],[2],[4]
Derivative Liability, Notional Amount | (3,000,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] | (3,000,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [12],[2],[4]
Range of expiration dates | 2035-03 | [11],[2],[22],[3] | 2035-03 | [12],[2],[4]
Derivative Liabilities | (239,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] | (350,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedSecuritiesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [12],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Credit Default Swap On Asset Backed Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[22],[3] |  |
Derivative Liability, Notional Amount | (20,050,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] |  |
Range of expiration dates | 2063-05 | [11],[2],[22],[3] |  |
Derivative Liabilities | (162,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapOnAssetBackedIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps On Corporate Bond Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[22],[3] | Credit | [2],[23],[4]
Derivative Liability, Notional Amount | (352,945,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] | (337,815,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[23],[4]
Derivative Liabilities | (27,357,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] | (23,902,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsOnCorporateBondIndicesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[23],[4]
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps On Corporate Bond Indices [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2016-12 | [11],[2],[22],[3] | 2016-12 | [2],[23],[4]
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps On Corporate Bond Indices [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-12 | [11],[2],[22],[3] | 2018-12 | [2],[23],[4]
Financial Derivatives - Liabilities [Member] | Short Interest Rate Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [14],[2],[22],[3] | Interest Rates | [14],[2],[4]
Derivative Liability, Notional Amount | (1,024,716,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [14],[2],[22],[3] | (323,800,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [14],[2],[4]
Derivative Liabilities | (28,727,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [14],[2],[22],[3] | (2,207,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortInterestRateSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [14],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Interest Rate Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-03 | [14],[2],[22],[3] | 2015-03 | [14],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Interest Rate Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2044-11 | [14],[2],[22],[3] | 2043-09 | [14],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Total Return Swaps [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure |  |  | Equity Market | [10],[2],[4]
Derivative Liability, Notional Amount |  |  | (10,374,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[4]
Derivative Liabilities |  |  | (67,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortTotalReturnSwapsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [10],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Total Return Swaps [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates |  |  | 2014-09 | [10],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Total Return Swaps [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates |  |  | 2015-09 | [10],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps on Corporate Bonds [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [11],[2],[22],[3] |  |
Derivative Liability, Notional Amount | (5,970,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsonCorporateBondsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] |  |
Derivative Liabilities | (247,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCreditDefaultSwapsonCorporateBondsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [11],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps on Corporate Bonds [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-09 | [11],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Short Credit Default Swaps on Corporate Bonds [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2019-12 | [11],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Swap [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liabilities | (65,616,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (42,296,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Investment owned as a percentage of equity | (8.32%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[5] | (6.76%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[5]
Net proceeds | (33,400,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (29,746,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = us-gaap_SwapMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Financial Derivatives - Liabilities [Member] | Long US Treasury Note Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [15],[2],[22],[3] | Interest Rates | [2],[24],[4]
Derivative Liability, Notional Amount | 50,600,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [15],[2],[22],[3] | 227,200,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[24],[4]
Range of expiration dates | 2015-03 | [15],[2],[22],[3] | 2014-03 | [2],[24],[4]
Derivative Liabilities | (13,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [15],[2],[22],[3] | (2,370,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongUSTreasuryNoteFuturesMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[24],[4]
Financial Derivatives - Liabilities [Member] | Short Eurodollar Future [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [16],[2],[22],[3] | Interest Rates | [16],[2],[4]
Derivative Liability, Notional Amount | (179,000,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [16],[2],[22],[3] | (14,000,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [16],[2],[4]
Derivative Liabilities | (68,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [16],[2],[22],[3] | (3,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortEurodollarFutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [16],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Eurodollar Future [Member] | Minimum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-03 | [16],[2],[22],[3] | 2014-03 | [16],[2],[4]
Financial Derivatives - Liabilities [Member] | Short Eurodollar Future [Member] | Maximum [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Range of expiration dates | 2015-06 | [16],[2],[22],[3] | 2015-09 | [16],[2],[4]
Financial Derivatives - Liabilities [Member] | Futures [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liabilities | (81,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (2,373,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Investment owned as a percentage of equity | (0.01%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[5] | (0.38%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_FutureMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[5]
Financial Derivatives - Liabilities [Member] | Purchased Payer Swaption [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [17],[2],[22],[3] |  |
Derivative Liability, Notional Amount | 260,000,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_PurchasedPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [17],[2],[22],[3] |  |
Range of expiration dates | 2015-03 | [17],[2],[22],[3] |  |
Derivative Liabilities | (137,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_PurchasedPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [17],[2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Option on CDS on Corporate Bond Indices [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Credit | [2],[22],[25],[3] |  |
Derivative Liability, Notional Amount | (25,900,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[25],[3] |  |
Range of expiration dates | 2018-03 | [2],[22],[25],[3] |  |
Derivative Liabilities | (146,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_CreditDefaultSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[25],[3] |  |
Financial Derivatives - Liabilities [Member] | Written Payer Swaption [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Interest Rates | [2],[22],[26],[3] |  |
Derivative Liability, Notional Amount | (10,200,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_WrittenPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[26],[3] |  |
Range of expiration dates | 2015-01 | [2],[22],[26],[3] |  |
Derivative Liabilities | 0 us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_WrittenPayerSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[26],[3] |  |
Financial Derivatives - Liabilities [Member] | Options [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liabilities | (283,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (84,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Investment owned as a percentage of equity | (0.04%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[5] | (0.01%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[5]
Net proceeds | (155,000)efc_DerivativesProceeds / us-gaap_DerivativeByNatureAxis = efc_OptionsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] |  |
Financial Derivatives - Liabilities [Member] | Short Currency Forward [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Currency | [2],[20],[22],[3] | Currency | [2],[4]
Derivative Liability, Notional Amount | (117,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[20],[22],[3] | (6,575,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Range of expiration dates | 2015-03 | [2],[20],[22],[3] | 2014-03 | [2],[4]
Derivative Liabilities | 0 us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[20],[22],[3] | (38,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_ShortCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Financial Derivatives - Liabilities [Member] | Forwards [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liabilities | (136,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3] | (38,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4]
Investment owned as a percentage of equity | (0.02%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[3],[5] | (0.01%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_DerivativeByNatureAxis = us-gaap_ForwardContractsMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[4],[5]
Financial Derivatives - Liabilities [Member] | Interest Rate Swaption [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure |  |  | Interest Rates | [2],[26],[4]
Derivative Liability, Notional Amount |  |  | (4,000,000)us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = us-gaap_InterestRateSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[26],[4]
Range of expiration dates |  |  | 2014-04 | [2],[26],[4]
Derivative Liabilities |  |  | (84,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = us-gaap_InterestRateSwaptionMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[26],[4]
Financial Derivatives - Liabilities [Member] | Long Currency Forward [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Primary risk exposure | Currency | [2],[22],[27],[3] |  |
Derivative Liability, Notional Amount | 9,518,000 us-gaap_DerivativeLiabilityNotionalAmount / us-gaap_DerivativeByNatureAxis = efc_LongCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[27],[3] |  |
Range of expiration dates | 2015-03 | [2],[22],[27],[3] |  |
Derivative Liabilities | (136,000)us-gaap_DerivativeLiabilities / us-gaap_DerivativeByNatureAxis = efc_LongCurrencyForwardMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember | [2],[22],[27],[3] |  |
North America [Member] | Financial Derivatives - Assets [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset, Notional Amount | 1,401,261,000 us-gaap_DerivativeAssetNotionalAmount / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Derivative Asset | 80,029,000 us-gaap_DerivativeAssets / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Investment owned as a percentage of equity | 10.15%us-gaap_InvestmentOwnedPercentOfNetAssets / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Net cost | 61,560,000 efc_DerivativesCost / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
North America [Member] | Financial Derivatives - Liabilities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liability, Notional Amount | (936,799,000)us-gaap_DerivativeLiabilityNotionalAmount / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Derivative Liabilities | (63,084,000)us-gaap_DerivativeLiabilities / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Investment owned as a percentage of equity | (8.00%)us-gaap_InvestmentOwnedPercentOfNetAssets / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Net proceeds | (30,598,000)efc_DerivativesProceeds / invest_InvestmentGeographicRegionAxis = us-gaap_NorthAmericaMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Europe [Member] | Financial Derivatives - Assets [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Asset, Notional Amount | 0 us-gaap_DerivativeAssetNotionalAmount / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Derivative Asset | 0 us-gaap_DerivativeAssets / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Investment owned as a percentage of equity | 0.00%us-gaap_InvestmentOwnedPercentOfNetAssets / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Net cost | 0 efc_DerivativesCost / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsAssetsMember |  |  |
Europe [Member] | Financial Derivatives - Liabilities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Derivative Liability, Notional Amount | (37,199,000)us-gaap_DerivativeLiabilityNotionalAmount / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Derivative Liabilities | (3,032,000)us-gaap_DerivativeLiabilities / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Investment owned as a percentage of equity | (0.39%)us-gaap_InvestmentOwnedPercentOfNetAssets / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Net proceeds | $ (2,957,000)efc_DerivativesProceeds / invest_InvestmentGeographicRegionAxis = us-gaap_EuropeMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
Affiliates of JP Morgan [Member] | Financial Derivatives - Liabilities [Member] |  |  |  |
Investment Holdings, Other than Securities [Line Items] |  |  |  |
Investment owned as a percentage of equity | (5.18%)us-gaap_InvestmentOwnedPercentOfNetAssets / us-gaap_CounterpartyNameAxis = efc_AffiliatesofJPMorganMember / us-gaap_InvestmentTypeAxis = us-gaap_DerivativeFinancialInstrumentsLiabilitiesMember |  |  |
[1] | In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2] | See Note 2 and Note 3 in Notes to Consolidated Financial Statements.
[3] | The following table details the breakout by geographical region of long investments, investments sold short, repurchase agreements, financial derivatives–assets, and financial derivatives–liabilities.Region Current Principal/Notional Value/Number of Properties/Number of Shares Cost/(Proceeds) Fair Value Percent ofEquityLong Investments: (In thousands, Expressed in U.S. Dollars) North America 2,863,057 $2,038,249 $2,092,959 264.46 %Europe 69,724 69,360 64,611 9.16 %North America (Private Corporate Investments) n/a 14,717 14,512 1.84 %Total $2,122,326 $2,172,082 275.46 %Investments Sold Short: North America (TBAs and Government Debt) (1,159,703) $(1,230,478) $(1,234,248) (156.53)%Europe (Government Debt) (28,118) (32,008) (30,606) (3.88)%North America (Common Stock) (2,986) (27,605) (26,516) (3.36)%Total $(1,290,091) $(1,291,370) (163.77)%Repurchase Agreements: North America 140,248 $140,248 $140,248 17.78 %Europe 31,753 31,753 31,753 4.03 %Total 172,001 $172,001 $172,001 21.81 %Financial Derivatives–Assets: North America 1,401,261 $61,560 $80,029 10.15 %Europe — — — — %Total 1,401,261 $61,560 $80,029 10.15 %Financial Derivatives–Liabilities: North America (936,799) $(30,598) $(63,084) (8.00)%Europe (37,199) (2,957) (3,032) (0.39)%Total (973,998) $(33,555) $(66,116) (8.39)%
[4] | The following table details the breakout by geographical region of long investments, investments sold short, and repurchase agreements. All financial derivatives were concentrated in North America.Region Current Principal/Notional Value/Number of Shares Cost/(Proceeds) Fair Value Percent ofEquityLong Investments: (In thousands, Expressed in U.S. Dollars) North America 2,470,650 $1,682,533 $1,724,370 275.44 %Europe 7,641 5,724 5,760 0.92 %Total 2,478,291 $1,688,257 $1,730,130 276.36 %Investments Sold Short: North America (TBAs and Government Debt) (804,888) $(833,656) $(831,564) (132.82)%Europe (Government Debt) (7,337) (7,633) (7,681) (1.23)%North America (Common Stock) (763) (6,313) (6,369) (1.02)%Total $(847,602) $(845,614) (135.07)%Repurchase Agreements: North America 19,675 $19,675 $19,675 3.15 %Europe 8,287 8,268 8,287 1.32 %Total 27,962 $27,943 $27,962 4.47 %
[5] | Classification percentages are based on Total Equity.
[6] | For long credit default swaps, the Company sold protection.
[7] | For long credit default swaps on asset-backed indices, the Company sold protection.
[8] | For long credit default swaps on corporate bond indices, the Company sold protection.
[9] | For long interest rate swap contracts, a floating rate is being paid and a fixed rate is being received.
[10] | Notional value represents number of underlying shares times the closing price of the underlying security.
[11] | For short credit default swaps, the Company purchased protection.
[12] | For short credit default swaps on asset-backed securities, the Company purchased protection.
[13] | For short credit default swaps on asset-backed indices, the Company purchased protection.
[14] | For short interest rate swap contracts, a fixed rate is being paid and a floating rate is being received.
[15] | Notional value represents the total face amount of U.S. Treasury Notes underlying all contracts held; as of December 31, 2014, 1,346 contracts were held.
[16] | Every $1,000,000 in notional value represents one contract.
[17] | Represents the option on the part of the Company to enter into an interest rate swap whereby the Company would pay a fixed rate and receive a floating rate.
[18] | Represents the option on the part of the Company to enter into a credit default swap on a corporate bond index whereby the Company would pay a fixed rate and receive credit protection payments.
[19] | Represents the option on the part of the Company to enter into a futures contract with a counterparty; as of December 31, 2014, 110 contracts were held.
[20] | Notional amount represents U.S. Dollars to be received by the Company at the maturity of the forward contract.
[21] | Notional amount represents number of warrants.
[22] | The following table shows the Company's swap liabilities by dealer as a percentage of Total Equity:Dealer/Parent Company Percent of EquityAffiliates of JP Morgan (5.18)%
[23] | For short credit default swaps on corporate bond indices, the Company purchased protection.
[24] | Notional value represents the total face amount of U.S. Treasury Notes underlying all contracts held; as of December 31, 2013 1,847 contracts were held.
[25] | Represents the option on the part of a counterparty to enter into a credit default swap on a corporate bond index whereby the Company would receive a fixed rate and pay credit protection payments.
[26] | Represents the option on the part of a counterparty to enter into an interest rate swap with the Company whereby the Company would receive a fixed rate and pay a floating rate.
[27] | Notional amount represents U.S. Dollars to be paid by the Company at the maturity of the forward contract.

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