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QUARTERLY RESULTS (UNAUDITED) - Summarized Quarterly Results of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
QUARTERLY RESULTS (UNAUDITED) [Abstract]                      
Interest income on residential mortgage investments (before investment premium amortization) $ 86,250 $ 83,808 $ 83,398 $ 83,723 $ 82,509 $ 82,146 $ 82,233 $ 81,733      
Investment premium amortization (28,732) (34,323) (33,057) (25,078) (26,159) (28,284) (25,141) (22,288) $ (121,190) $ (101,872) $ (125,872)
Related interest expense (23,937) (22,272) (20,098) (19,214) (18,107) (16,099) (15,542) (15,407)      
Net interest income (expense) 33,581 27,213 30,243 39,431 38,243 37,763 41,550 44,038 122,355 153,421 140,355
Other interest income (expense) [1] (2,027) (2,034) (2,023) (2,029) (2,023) (2,044) (2,045) (2,061)      
Other revenue (expense) (3,197) [2] (4,112) [2] (3,276) [2] (3,445) [2] (2,746) [2] (3,328) [2] (2,941) [2] (3,586) [2] (14,030) (12,601) (14,117)
Net income $ 28,357 $ 21,067 $ 24,944 $ 33,957 $ 33,474 $ 32,391 $ 36,564 $ 38,391 $ 108,325 $ 140,820 $ 126,487
Basic and diluted net income per common share (in dollars per share) $ 0.26 $ 0.18 $ 0.22 $ 0.32 $ 0.31 $ 0.30 $ 0.35 $ 0.37 $ 0.97 $ 1.33 $ 0.93
[1] Consists principally of interest on unsecured borrowings.
[2] Consists of general and administrative expenses, including compensation-related costs, and miscellaneous other revenue (expenses).