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Consolidated Statement Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 59,949us-gaap_ProfitLoss $ 79,362us-gaap_ProfitLoss $ 97,146us-gaap_ProfitLoss
Reconciliation of the net increase in equity resulting from operations to net cash provided by (used in) operating activities:      
Change in net unrealized (gain) loss on investments and financial derivatives, and foreign currency translation 3,564efc_TotalNetUnrealizedGainLossOnInvestmentsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash (11,663)efc_TotalNetUnrealizedGainLossOnInvestmentsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash (84,206)efc_TotalNetUnrealizedGainLossOnInvestmentsFinancialDerivativesandForeignCurrencyTranslationexcludingFXoncash
Net realized (gain) loss on investments, financial derivatives, and foreign currency transactions (6,008)efc_RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash (18,002)efc_RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash 11,247efc_RealizedgainorlossoninvestmentsfinancialderivativesandforeigncurrencytransactionsexcludesFXoncash
Amortization of premiums and accretion of discounts (net) (9,131)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (18,619)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (13,010)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Purchase of investments (5,298,446)us-gaap_PaymentsToAcquireInvestments (2,224,370)us-gaap_PaymentsToAcquireInvestments (2,345,880)us-gaap_PaymentsToAcquireInvestments
Proceeds from disposition of investments 4,755,862us-gaap_PaymentsForProceedsFromInvestments 1,713,538us-gaap_PaymentsForProceedsFromInvestments 2,166,238us-gaap_PaymentsForProceedsFromInvestments
Proceeds from principal payments of investments 186,094efc_ProceedsFromPrincipalPaymentsOfInvestments 190,720efc_ProceedsFromPrincipalPaymentsOfInvestments 142,617efc_ProceedsFromPrincipalPaymentsOfInvestments
Proceeds from investments sold short 1,606,561efc_ProceedsFromInvestmentsSoldShort 947,556efc_ProceedsFromInvestmentsSoldShort 938,699efc_ProceedsFromInvestmentsSoldShort
Repurchase of investments sold short (1,215,239)efc_RepurchaseOfInvestmentsSoldShort (702,846)efc_RepurchaseOfInvestmentsSoldShort (796,974)efc_RepurchaseOfInvestmentsSoldShort
Payments made to open financial derivatives (61,080)efc_PaymentsMadeToOpenFinancialDerivatives (25,624)efc_PaymentsMadeToOpenFinancialDerivatives (91,019)efc_PaymentsMadeToOpenFinancialDerivatives
Proceeds received to close financial derivatives 85,572efc_ProceedsReceivedToCloseFinancialDerivatives 42,643efc_ProceedsReceivedToCloseFinancialDerivatives 126,207efc_ProceedsReceivedToCloseFinancialDerivatives
Proceeds received to open financial derivatives 87,441efc_ProceedsReceivedToOpenFinancialDerivatives 39,822efc_ProceedsReceivedToOpenFinancialDerivatives 42,920efc_ProceedsReceivedToOpenFinancialDerivatives
Payments made to close financial derivatives (130,389)efc_PaymentsMadeToCloseFinancialDerivatives (46,419)efc_PaymentsMadeToCloseFinancialDerivatives (56,948)efc_PaymentsMadeToCloseFinancialDerivatives
Shares issued in connection with incentive fee payment 449efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash 1,262efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash 1,180efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash
Share-based LTIP expense 267us-gaap_AllocatedShareBasedCompensationExpense 179us-gaap_AllocatedShareBasedCompensationExpense 135us-gaap_AllocatedShareBasedCompensationExpense
(Increase) decrease in assets:      
Repurchase agreements (144,039)efc_IncreaseDecreaseInRepurchaseAgreements (14,312)efc_IncreaseDecreaseInRepurchaseAgreements 2,100efc_IncreaseDecreaseInRepurchaseAgreements
Receivable for securities sold (354,587)efc_IncreaseDecreaseInReceivableForSecuritiesSold (256,086)efc_IncreaseDecreaseInReceivableForSecuritiesSold (93,211)efc_IncreaseDecreaseInReceivableForSecuritiesSold
Due from brokers (64,394)us-gaap_IncreaseDecreaseInDepositsOutstanding (59,827)us-gaap_IncreaseDecreaseInDepositsOutstanding 11,419us-gaap_IncreaseDecreaseInDepositsOutstanding
Interest and principal receivable (13,780)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet (1,112)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 408us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Other assets (565)us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,095)us-gaap_IncreaseDecreaseInOtherOperatingAssets (111)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in liabilities:      
Due to brokers 2,462efc_IncreaseDecreaseInDueToBrokersMarginAccounts (11,192)efc_IncreaseDecreaseInDueToBrokersMarginAccounts (48,781)efc_IncreaseDecreaseInDueToBrokersMarginAccounts
Payable for securities purchased (94,300)efc_IncreaseDecreaseInPayableForSecuritiesPurchased 135,714efc_IncreaseDecreaseInPayableForSecuritiesPurchased (70,184)efc_IncreaseDecreaseInPayableForSecuritiesPurchased
Accounts payable and accrued expenses 1,205us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (75)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 98us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Incentive fee payable (3,091)efc_IncreaseDecreaseAccruedIncentiveFee (4,252)efc_IncreaseDecreaseAccruedIncentiveFee 7,343efc_IncreaseDecreaseAccruedIncentiveFee
Other payables 0us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (903)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 903us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Interest and dividends payable 865efc_IncreaseDecreaseInterestAndDividendsPayable 789efc_IncreaseDecreaseInterestAndDividendsPayable (270)efc_IncreaseDecreaseInterestAndDividendsPayable
Base management fee payable 599efc_Increasedecreaseinaccruedmanagementfee 430efc_Increasedecreaseinaccruedmanagementfee 538efc_Increasedecreaseinaccruedmanagementfee
Net cash used in operating activities (604,159)us-gaap_NetCashProvidedByUsedInOperatingActivities (244,382)us-gaap_NetCashProvidedByUsedInOperatingActivities (51,396)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows provided by (used in) financing activities:      
Proceeds from the issuance of shares 188,400us-gaap_ProceedsFromIssuanceOfCommonStock 125,600us-gaap_ProceedsFromIssuanceOfCommonStock 88,142us-gaap_ProceedsFromIssuanceOfCommonStock
Contribution from non-controlling interests 1,793us-gaap_ProceedsFromMinorityShareholders 5,880us-gaap_ProceedsFromMinorityShareholders 0us-gaap_ProceedsFromMinorityShareholders
Share Repurchased 0us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock (3,430)us-gaap_PaymentsForRepurchaseOfCommonStock
Offering costs paid (288)us-gaap_PaymentsOfStockIssuanceCosts (444)us-gaap_PaymentsOfStockIssuanceCosts (323)us-gaap_PaymentsOfStockIssuanceCosts
Dividends paid (86,449)us-gaap_PaymentsOfDividends (92,067)us-gaap_PaymentsOfDividends (47,412)us-gaap_PaymentsOfDividends
Distributions to non-controlling Interest (1,667)us-gaap_PaymentsToMinorityShareholders (260)us-gaap_PaymentsToMinorityShareholders 0us-gaap_PaymentsToMinorityShareholders
Proceeds from issuance of securitized debt 0efc_ProceedsFromIssuanceOfSecuritizedDebt 0efc_ProceedsFromIssuanceOfSecuritizedDebt 1,522efc_ProceedsFromIssuanceOfSecuritizedDebt
Principal payments on securitized debt (246)efc_PrincipalPaymentOnSecuritizedDebt (370)efc_PrincipalPaymentOnSecuritizedDebt (264)efc_PrincipalPaymentOnSecuritizedDebt
Reverse repurchase agreements, net of repayments 433,267efc_ReverseRepurchaseAgreementsNetOfRepayments 330,448efc_ReverseRepurchaseAgreementsNetOfRepayments 9,508efc_ReverseRepurchaseAgreementsNetOfRepayments
Net cash provided by financing activities 534,810us-gaap_NetCashProvidedByUsedInFinancingActivities 368,787us-gaap_NetCashProvidedByUsedInFinancingActivities 47,743us-gaap_NetCashProvidedByUsedInFinancingActivities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (69,349)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 124,405us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (3,653)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 183,489us-gaap_CashAndCashEquivalentsAtCarryingValue 59,084us-gaap_CashAndCashEquivalentsAtCarryingValue 62,737us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS, END OF PERIOD 114,140us-gaap_CashAndCashEquivalentsAtCarryingValue 183,489us-gaap_CashAndCashEquivalentsAtCarryingValue 59,084us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:      
Interest paid 9,544us-gaap_InterestPaid 10,389us-gaap_InterestPaid 8,040us-gaap_InterestPaid
Shares issued in connection with incentive fee payment (non-cash) 449efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash 1,262efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash 1,180efc_SharesIssuedInConnectionWithIncentiveFeePaymentNonCash
Share-based LTIP awards (non-cash) 267us-gaap_AllocatedShareBasedCompensationExpense 179us-gaap_AllocatedShareBasedCompensationExpense 135us-gaap_AllocatedShareBasedCompensationExpense
Aggregate TBA trade activity (buys sells) (non-cash) $ 30,136,820efc_AggregateToBeAnnouncedTradeActivityBuysSellsNonCash $ 24,946,079efc_AggregateToBeAnnouncedTradeActivityBuysSellsNonCash $ 16,365,027efc_AggregateToBeAnnouncedTradeActivityBuysSellsNonCash