Earnings Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013		Mar. 31, 2012
Net increase (decrease) in shareholders' equity resulting from operations
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 40,746		$ 32,055
Net Income (Loss) Attributable to Noncontrolling Interest	411		0
Net Income (Loss) Attributable to Parent	40,335		32,055
Net increase in shareholders' equity resulting from operations - common shares	39,564		31,312
Net increase in shareholders' equity resulting from operations - LTIP units	771		743
Dividends Paid(1):
Common shareholders	(31,013)	[1]	(6,579)	[1]
LTIP unit holders	(604)	[1]	(156)	[1]
Payments of Ordinary Dividends, Noncontrolling Interest	(322)	[1]	0	[1]
Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest	(31,939)	[1],[2]	(6,735)	[1],[2]
Undistributed earnings:
Common shareholders	8,551		24,733
LTIP Unit holders	167		587
Non-controlling interest	89		0
Total undistributed earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest	$ 8,807		$ 25,320
Weighted average shares outstanding (basic and diluted):
Weighted average common shares outstanding	20,388,204		16,447,651
Weighted average participating LTIP units	397,096		390,500
efc_WeightedAverageParticipatingNonControllingInterestUnits	212,000		0
Basic earnings per common share:
Distributed (in usd per share)	$ 1.52		$ 0.40
Undistributed (in usd per share)	$ 0.42		$ 1.50
Basic earnings per common share (in usd per share)	$ 1.94		$ 1.90
Diluted earnings per common share:
Distributed (in usd per share)	$ 1.52		$ 0.40
Undistributed (in usd per share)	$ 0.42		$ 1.50
Diluted earnings per common share (in usd per share)	$ 1.94		$ 1.90

[1] The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.

[2] For the three month period ended March 31, 2013 and 2012, dividends totaling $1.52 and $0.40, respectively, per common share and convertible unit outstanding were declared and paid.