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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, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]                      
Interest income on residential mortgage investments (before investment premium amortization) $ 94,191 $ 92,023 $ 89,764 $ 85,226 $ 84,985 $ 85,921 $ 86,361 $ 85,511      
Investment premium amortization (29,773) (34,950) (33,661) (30,385) (34,945) (36,076) (33,052) (26,011) $ (128,769) $ (130,084) $ (121,190)
Related interest expense (40,012) (36,655) (33,850) (28,240) (27,421) (26,636) (27,014) (26,582)      
Net interest income (expense) 24,406 20,418 22,253 26,601 22,619 23,209 26,295 32,918 87,032 97,845 122,355
Other interest income (expense) [1] (1,702) (1,544) (1,662) (1,738) (1,767) (1,796) (1,848) (1,785)      
Other revenue (expense) (117) [2] (2,122) [2] (3,042) [2] (2,162) [2] (3,402) [2] (4,973) [2] (2,817) [2] (3,780) [2] $ (7,443) $ (14,972) $ (14,030)
Net income $ 22,587 $ 16,752 $ 17,549 $ 22,701 $ 17,450 $ 16,440 $ 21,630 $ 27,353      
Basic and diluted net income per common share $ 0.19 $ 0.13 $ 0.14 $ 0.20 $ 0.14 $ 0.13 $ 0.19 $ 0.25 $ 0.65 $ 0.70 $ 0.97
[1] Consists principally of interest on unsecured borrowings, overnight investments and cash collateral receivable with interest rate swap counterparties.
[2] Consists of general and administrative expenses, including compensation-related costs, and miscellaneous other revenue (expense). The fourth quarter of 2017 includes $1.9 million in alternative minimum tax refunds recorded in connection with the enactment of tax reform legislation. The third and fourth quarters of 2016 also include separation of service charges totaling $3.0 million.