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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Interest Income:      
Residential whole loans $ 4,083us-gaap_InterestAndFeeIncomeLoansCommercialAndResidentialRealEstate $ 0us-gaap_InterestAndFeeIncomeLoansCommercialAndResidentialRealEstate $ 0us-gaap_InterestAndFeeIncomeLoansCommercialAndResidentialRealEstate
Cash and cash equivalent investments 89us-gaap_InterestIncomeDepositsWithFinancialInstitutions 124us-gaap_InterestIncomeDepositsWithFinancialInstitutions 127us-gaap_InterestIncomeDepositsWithFinancialInstitutions
Interest Income 463,817us-gaap_InterestAndDividendIncomeOperating 482,940us-gaap_InterestAndDividendIncomeOperating 499,157us-gaap_InterestAndDividendIncomeOperating
Interest Expense:      
Repurchase agreements 145,244us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 143,885us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 148,767us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
Securitized debt 6,533us-gaap_InterestExpenseDebt 12,100us-gaap_InterestExpenseDebt 17,106us-gaap_InterestExpenseDebt
Senior Notes 8,031us-gaap_InterestExpenseOtherLongTermDebt 8,028us-gaap_InterestExpenseOtherLongTermDebt 5,797us-gaap_InterestExpenseOtherLongTermDebt
Interest Expense 159,808us-gaap_InterestExpense 164,013us-gaap_InterestExpense 171,670us-gaap_InterestExpense
Net Interest Income 304,009us-gaap_InterestIncomeExpenseNet 318,927us-gaap_InterestIncomeExpenseNet 327,487us-gaap_InterestIncomeExpenseNet
Other-Than-Temporary Impairments:      
Total other-than-temporary impairment losses 0us-gaap_MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount 0us-gaap_MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount (879)us-gaap_MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
Portion of loss reclassed from other comprehensive loss 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent (321)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
Net Impairment Losses Recognized in Earnings 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet (1,200)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Other Income, net:      
Unrealized net gains and net interest income from Linked Transactions 17,092mfa_GainOnLinkedTransactions 3,225mfa_GainOnLinkedTransactions 12,610mfa_GainOnLinkedTransactions
Gain on residential whole loans held at fair value 447mfa_MortgageLoansonRealEstateGainLossonLoansatFairValue 0mfa_MortgageLoansonRealEstateGainLossonLoansatFairValue 0mfa_MortgageLoansonRealEstateGainLossonLoansatFairValue
Losses on TBA short positions 0us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet (7,517)us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet 0us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
Gain on sales of MBS and U.S. Treasury securities, net 37,497us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments 25,825us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments 9,001us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
Other, net (251)us-gaap_OtherOperatingIncomeExpenseNet 219us-gaap_OtherOperatingIncomeExpenseNet 10us-gaap_OtherOperatingIncomeExpenseNet
Other Income, net 54,785us-gaap_NoninterestIncome 21,752us-gaap_NoninterestIncome 21,621us-gaap_NoninterestIncome
Operating and Other Expense:      
Compensation and benefits 25,581us-gaap_LaborAndRelatedExpense 20,328us-gaap_LaborAndRelatedExpense 22,089us-gaap_LaborAndRelatedExpense
Other general and administrative expense 15,164us-gaap_OtherGeneralAndAdministrativeExpense 13,361us-gaap_OtherGeneralAndAdministrativeExpense 11,480us-gaap_OtherGeneralAndAdministrativeExpense
Excise tax and interest 1,162mfa_ExciseTaxesandInterestExpense 2,250mfa_ExciseTaxesandInterestExpense 7,500mfa_ExciseTaxesandInterestExpense
Impairment of resecuritization related costs 0us-gaap_AssetImpairmentCharges 2,031us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Other investment related operating expenses 3,383us-gaap_OtherCostAndExpenseOperating 0us-gaap_OtherCostAndExpenseOperating 0us-gaap_OtherCostAndExpenseOperating
Operating and Other Expense 45,290us-gaap_CostsAndExpenses 37,970us-gaap_CostsAndExpenses 41,069us-gaap_CostsAndExpenses
Net Income 313,504us-gaap_NetIncomeLoss 302,709us-gaap_NetIncomeLoss 306,839us-gaap_NetIncomeLoss
Less Preferred Stock Dividends 15,000us-gaap_PreferredStockDividendsIncomeStatementImpact 13,750us-gaap_PreferredStockDividendsIncomeStatementImpact 8,160us-gaap_PreferredStockDividendsIncomeStatementImpact
Less Issuance Costs of Redeemed Preferred Stock 0us-gaap_PreferredStockRedemptionPremium 3,947us-gaap_PreferredStockRedemptionPremium 0us-gaap_PreferredStockRedemptionPremium
Net Income Available to Common Stock and Participating Securities 298,504us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 285,012us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 298,679us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per Common Share - Basic and Diluted (in dollars per share) $ 0.81us-gaap_EarningsPerShareBasicAndDiluted $ 0.78us-gaap_EarningsPerShareBasicAndDiluted $ 0.83us-gaap_EarningsPerShareBasicAndDiluted
Agency MBS      
Interest Income:      
Mortgage backed securities 142,543us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
156,046us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
196,058us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
Non-Agency MBS      
Interest Income:      
Mortgage backed securities 316,330us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
326,770us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
302,972us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS      
Interest Income:      
Mortgage backed securities 185,806us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
170,485us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
134,901us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_ResidentialMortgageBackedSecuritiesMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Non-Agency MBS | Non-Agency MBS Transfered to Consolidated VIEs      
Interest Income:      
Mortgage backed securities 130,524us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
156,285us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
168,071us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_InvestmentTypeAxis
= us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
CRT securities      
Interest Income:      
Mortgage backed securities $ 772us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember
$ 0us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember
$ 0us-gaap_InterestIncomeSecuritiesMortgageBacked
/ us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis
= us-gaap_USGovernmentSponsoredEnterprisesDebtSecuritiesMember