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CONSOLIDATED STATEMENT OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 0 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2013
INTEREST INCOME (EXPENSE)      
Interest income $ 0 $ 11,223 $ 15,815
Interest expense 0 (1,248) (1,773)
Total net interest income 0 9,975 14,042
EXPENSES      
Management fees 8 644 1,466
Professional fees 0 200 468
Other operating expenses 0 513 980
Total expenses 8 1,357 2,914
OTHER INCOME (LOSS)      
Net realized losses on real estate securities 0 (24,173) (26,290)
Net realized gains on financial derivatives 0 4,273 12,650
Change in net unrealized gains (losses) on real estate securities 0 30,239 (15,391)
Change in net unrealized gains (losses) on financial derivatives 0 (12,172) 16,114
Total other loss 0 (1,833) (12,917)
NET INCOME (LOSS) $ (8) $ 6,785 $ (1,789)
NET INCOME (LOSS) PER COMMON SHARE:      
Basic (in dollars per share) $ (0.01) $ 0.74 $ (0.31)