v2.4.1.9

Base Management Fee And Incentive Fee (Details) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 12 Months Ended
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Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012
Base Management Fee And Incentive Fee [Abstract] |  |  |  |  |  |  |  |  |  |  |  |
Annual base management fee percentage |  |  |  |  |  |  |  |  |  | 1.50%efc_AnnualBaseManagementFeePercentage |  |
Management fee description |  |  |  |  |  |  |  |  |  | Periods after January 1, 2013 - The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges. Periods prior to January 1, 2013 - Under the previous management agreement, the Company paid the Manager a base management fee quarterly in arrears in an amount equal to 1.50% per annum of shareholders' equity calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that shareholders' equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the independent directors, and approval by a majority of the independent directors in the case of non-cash charges. |  |
Management Fee Expense | $ 2,963 us-gaap_ManagementFeeExpense | $ 3,056 us-gaap_ManagementFeeExpense | [1] | $ 2,368 us-gaap_ManagementFeeExpense | $ 2,364 us-gaap_ManagementFeeExpense | $ 2,365 us-gaap_ManagementFeeExpense | $ 2,378 us-gaap_ManagementFeeExpense | $ 2,405 us-gaap_ManagementFeeExpense | $ 1,967 us-gaap_ManagementFeeExpense | $ 10,751 us-gaap_ManagementFeeExpense | $ 9,115 us-gaap_ManagementFeeExpense | $ 6,835 us-gaap_ManagementFeeExpense
Incentive fee rate |  |  |  |  |  |  |  |  |  | 25.00%efc_IncentiveFeeRate |  |
Incentive fees arrangement |  |  |  |  |  |  |  |  |  | Periods after January 1, 2013 - The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of December 31, 2014 there was no Loss Carryforward. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP Unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP Units issued in such issuance and the number of days that such issued shares and OP Units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting (i.e. attributing any share and OP Unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP Units at the beginning of such fiscal quarter by (II) the average number of common shares and OP Units outstanding for each day during such fiscal quarter, (iii) the sum of the average number of common shares, LTIP Units, and OP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares and OP Units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares. Periods prior to January 1, 2013 - The Manager was entitled to receive a quarterly incentive fee calculated in accordance with the above described calculation except (a) For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in shareholders' equity from operations of the Company, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period; (b) For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) the Company's net increase in shareholders' equity from operations (expressed as a positive number) or net decrease in shareholders' equity from operations (expressed as a negative number) for such fiscal quarter; and (c) For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the 10-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all of the Company's common share issuances up to the end of such fiscal quarter, with each issuance weighted by both the number of shares issued in such issuance and the number of days that such issued shares were outstanding during such fiscal quarter, using a first-in first-out basis of accounting (i.e. attributing any share repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to the Company's common shares at the beginning of such fiscal quarter by (II) the average number of the Company's common shares outstanding for each day during such fiscal quarter, and (iii) the average number of the Company's common shares and LTIP Units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares (A) as equity incentive awards, (B) to the Manager as part of its base management fee or incentive fee and (C) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. |  |
Incentive fee hurdle rate fixed |  |  |  |  |  |  |  |  |  | 9.00%efc_IncentiveFeeHurdleRateFixed |  |
Incentive fee hurdle rate floating |  |  |  |  |  |  |  |  |  | 3.00%efc_IncentiveFeeHurdleRateFloating |  |
Incentive Fee Expense | $ 0 us-gaap_IncentiveFeeExpense | $ 1,400 us-gaap_IncentiveFeeExpense | [1] | $ 0 us-gaap_IncentiveFeeExpense | $ 0 us-gaap_IncentiveFeeExpense | $ 3,091 us-gaap_IncentiveFeeExpense | $ 2,038 us-gaap_IncentiveFeeExpense | $ 1,182 us-gaap_IncentiveFeeExpense | $ 2,055 us-gaap_IncentiveFeeExpense | $ 1,400 us-gaap_IncentiveFeeExpense | $ 8,366 us-gaap_IncentiveFeeExpense | $ 19,145 us-gaap_IncentiveFeeExpense
Minimum percentage of incentive fee to be paid in share |  |  |  |  |  |  |  |  |  | 10.00%efc_MinimumPercentageOfIncentiveFeeToBePaidInShare |  |
[1] | Prior period conformed to current period presentation.

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- Definition Percentage used to calculate fees paid to the Manager as per the Managment Agreement. + References No definition available. + Details
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- Details
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- Definition The fixed hurdle rate used in the incentive fee calculation per the management agreement. + References No definition available. + Details
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- Definition Percentage added onto the ten-year U.S. Treasury rate (for such fiscal quarter) to aggregate the floating hurdle rate used in the incentive fee calculation per the management agreement. + References No definition available. + Details
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- Definition The rate at which incentive fees are charged (when applicable), per the management agreement. + References No definition available. + Details
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- Definition The minimum percentage of the incentive fee to be paid to the Manager in the form of common shares. + References No definition available. + Details
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- Definition Description of the nature of the payments to managing member or general partner for incentive rights held including the fee rate, basis of calculation, relevant accounting period, whether the fee is paid to an entity other than the managing member or general partner, or if the fee is waived. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
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- Definition Amount of expense for incentive rights held by the managing member or general partner, of limited liability company (LLC) or limited partnership (LP). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
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- Definition Description of the nature of payments to managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP), including the fee rate, basis of calculation, relevant accounting period, whether the fee is paid to an entity other than the managing member or general partner, or whether the fee is waived. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
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- Definition Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 + Details
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