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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, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]                      
Interest income on residential mortgage investments (before investment premium amortization) $ 84,985 $ 85,921 $ 86,361 $ 85,511 $ 86,250 $ 83,808 $ 83,398 $ 83,723      
Investment premium amortization (34,945) (36,076) (33,052) (26,011) (28,732) (34,323) (33,057) (25,078) $ (130,084) $ (121,190) $ (101,872)
Related interest expense (27,421) (26,636) (27,014) (26,582) (23,937) (22,272) (20,098) (19,214)      
Net interest income (expense) 22,619 23,209 26,295 32,918 33,581 27,213 30,243 39,431 97,845 122,355 153,421
Other interest income (expense) [1] (1,767) (1,796) (1,848) (1,785) (2,027) (2,034) (2,023) (2,029)      
Other revenue (expense) (3,402) [2] (4,973) [2] (2,817) [2] (3,780) [2] (3,197) [2] (4,112) [2] (3,276) [2] (3,445) [2] $ (14,972) $ (14,030) $ (12,601)
Net income $ 17,450 $ 16,440 $ 21,630 $ 27,353 $ 28,357 $ 21,067 $ 24,944 $ 33,957      
Basic and diluted net income per common share $ 0.14 $ 0.13 $ 0.19 $ 0.25 $ 0.26 $ 0.18 $ 0.22 $ 0.32 $ 0.70 $ 0.97 $ 1.33
[1] Consists principally of interest on unsecured borrowings.
[2] Consists of general and administrative expenses, including compensation-related costs, and miscellaneous other revenue (expense). The third and fourth quarters of 2016 also include separation of service charges of $2.7 million and $225,000, respectively, associated with the resignation of the Company’s former CEO.