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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities $ 10,762,622us-gaap_AvailableForSaleSecurities  
Securities obtained and pledged as collateral, at fair value 512,105us-gaap_SecuritiesReceivedAsCollateral 383,743us-gaap_SecuritiesReceivedAsCollateral
Residential whole loans ($67,536 and $0 pledged as collateral, respectively) 207,923us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet 0us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
Residential whole loans, at fair value ($143,072 and $0 pledged as collateral, respectively) 143,472us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue 0us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue
Cash and cash equivalents 182,437us-gaap_CashAndCashEquivalentsAtCarryingValue 565,370us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 67,255us-gaap_RestrictedCashAndCashEquivalents 37,520us-gaap_RestrictedCashAndCashEquivalents
Interest receivable 31,257us-gaap_InterestReceivable 35,828us-gaap_InterestReceivable
Derivative instruments:    
MBS linked transactions, net (“Linked Transactions”), at fair value 398,336mfa_MBSLinkedTransactionsNet 28,181mfa_MBSLinkedTransactionsNet
Interest rate swap agreements (“Swaps”), at fair value 3,136us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral 13,000us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
Goodwill 7,189us-gaap_Goodwill 7,189us-gaap_Goodwill
Prepaid and other assets 39,012us-gaap_PrepaidExpenseAndOtherAssets 29,719us-gaap_PrepaidExpenseAndOtherAssets
Total Assets 12,354,744us-gaap_Assets 12,471,908us-gaap_Assets
Liabilities:    
Repurchase agreements 8,267,388us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGross 8,339,297us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseGross
Securitized debt 110,574us-gaap_OtherSecuredFinancings [1] 366,205us-gaap_OtherSecuredFinancings [1]
Obligation to return securities obtained as collateral, at fair value 512,105us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral 383,743us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral
8% Senior Notes due 2042 (“Senior Notes”) 100,000us-gaap_SeniorNotes 100,000us-gaap_SeniorNotes
Accrued interest payable 13,095us-gaap_InterestPayableCurrentAndNoncurrent 14,726us-gaap_InterestPayableCurrentAndNoncurrent
Swaps, at fair value 62,198us-gaap_DerivativeFairValueOfDerivativeLiability 28,217us-gaap_DerivativeFairValueOfDerivativeLiability
Dividends and dividend equivalents rights (“DERs”) payable 74,529us-gaap_DividendsPayableCurrentAndNoncurrent 73,643us-gaap_DividendsPayableCurrentAndNoncurrent
Accrued expenses and other liabilities 11,583us-gaap_OtherLiabilities 23,826us-gaap_OtherLiabilities
Total Liabilities 9,151,472us-gaap_Liabilities 9,329,657us-gaap_Liabilities
Commitments and contingencies      
Stockholders’ Equity:    
Preferred stock, $.01 par value; 7.50% Series B cumulative redeemable 8,050 shares authorized; 8,000 shares issued and outstanding ($200,000 aggregate liquidation preference) 80us-gaap_PreferredStockValue 80us-gaap_PreferredStockValue
Common stock, $.01 par value; 886,950 shares authorized; 370,084 and 365,125 shares issued and outstanding, respectively 3,701us-gaap_CommonStockValue 3,651us-gaap_CommonStockValue
Additional paid-in capital, in excess of par 3,013,634us-gaap_AdditionalPaidInCapital 2,972,369us-gaap_AdditionalPaidInCapital
Accumulated deficit (568,596)us-gaap_RetainedEarningsAccumulatedDeficit (571,544)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income 754,453us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 737,695us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total Stockholders’ Equity 3,203,272us-gaap_StockholdersEquity 3,142,251us-gaap_StockholdersEquity
Total Liabilities and Stockholders’ Equity 12,354,744us-gaap_LiabilitiesAndStockholdersEquity 12,471,908us-gaap_LiabilitiesAndStockholdersEquity
Agency MBS    
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities 5,904,207us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember		 6,519,221us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
Non-Agency MBS    
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities 4,755,432us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember		 4,852,137us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS    
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities 3,358,426us-gaap_AvailableForSaleSecurities
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember		 2,569,766us-gaap_AvailableForSaleSecurities
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS Transfered to Consolidated VIEs    
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities 1,397,006us-gaap_AvailableForSaleSecurities
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember		 [2] 2,282,371us-gaap_AvailableForSaleSecurities
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember		 [2]
CRT securities    
Mortgage-backed securities (“MBS”) and credit risk transfer (“CRT”) securities:    
MBS and CRT securities $ 102,983us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember		 $ 0us-gaap_AvailableForSaleSecurities
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember
[1] Securitized Debt represents third-party liabilities of consolidated VIEs and excludes liabilities of the VIEs acquired by the Company that eliminate on consolidation. The third-party beneficial interest holders in the VIEs have no recourse to the general credit of the Company. (See Notes 12 and 17 for further discussion.)
[2] Non-Agency MBS transferred to consolidated VIEs represent assets of consolidated VIEs that can be used only to settle the obligations of each respective VIE.