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NET INCOME PER COMMON SHARE - Components of Computation of Basic and Diluted Net Income Per Common Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Numerator for basic net income per common share [Abstract]      
Net income $ 140,820us-gaap_NetIncomeLoss $ 126,487us-gaap_NetIncomeLoss $ 163,626us-gaap_NetIncomeLoss
Redemption preference premiums paid on Convertible preferred stock 0us-gaap_PreferredStockRedemptionPremium (19,924)us-gaap_PreferredStockRedemptionPremium 0us-gaap_PreferredStockRedemptionPremium
Preferred stock dividends (13,781)us-gaap_PreferredStockDividendsAndOtherAdjustments (17,536)us-gaap_PreferredStockDividendsAndOtherAdjustments (21,021)us-gaap_PreferredStockDividendsAndOtherAdjustments
Earnings participation of unvested equity awards (95)us-gaap_UndistributedEarnings (139)us-gaap_UndistributedEarnings (372)us-gaap_UndistributedEarnings
Numerator for basic net income per common share 126,944cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards 88,888cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards 142,233cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards
Denominator for basic net income per common share [Abstract]      
Weighted average common stock outstanding (in shares) 95,789us-gaap_WeightedAverageNumberOfSharesIssuedBasic 95,679us-gaap_WeightedAverageNumberOfSharesIssuedBasic 95,115us-gaap_WeightedAverageNumberOfSharesIssuedBasic
Average unvested stock awards outstanding (in shares) (398)us-gaap_WeightedAverageNumberOfSharesRestrictedStock (506)us-gaap_WeightedAverageNumberOfSharesRestrictedStock (522)us-gaap_WeightedAverageNumberOfSharesRestrictedStock
Denominator for basic net income per common share (in shares) 95,391us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 95,173us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 94,593us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Basic net income per common share (in dollars per share) $ 1.33us-gaap_EarningsPerShareBasic $ 0.93us-gaap_EarningsPerShareBasic $ 1.50us-gaap_EarningsPerShareBasic
Numerator for diluted net income per common share [Abstract]      
Numerator for basic net income per common share 126,944cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards 88,888cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards 142,233cmo_NetIncomeLossAvailableToCommonStockholdersAfterAdjustmentForImpactOfParticipatingUnvestedStockAwards
Dividends on dilutive convertible preferred stock 0us-gaap_DilutiveSecurities 44us-gaap_DilutiveSecurities 298us-gaap_DilutiveSecurities
Numerator for diluted net income per common share $ 126,944cmo_NumeratorForDilutedEarningsPerCommonShare $ 88,932cmo_NumeratorForDilutedEarningsPerCommonShare $ 142,531cmo_NumeratorForDilutedEarningsPerCommonShare
Denominator for diluted net income per common share [Abstract]      
Denominator for basic net income per common share 95,391us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 95,173us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 94,593us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Net effect of dilutive equity awards (in shares) 238us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements 145us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements 111us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
Net effect of dilutive convertible preferred stock (in shares) 0us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock 75us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock 308us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock
Denominator for diluted net income per common share (in shares) 95,629us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 95,393us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 95,012us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Diluted net income per common share (in dollars per share) $ 1.33us-gaap_EarningsPerShareDiluted $ 0.93us-gaap_EarningsPerShareDiluted $ 1.50us-gaap_EarningsPerShareDiluted