INVESTMENTS IN REAL ESTATE SECURITIES (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 1 Months Ended 3 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended
Jan. 31, 2014
Dec. 31, 2013
Jun. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Assets Held Prior to Spin-Off
Mar. 06, 2014
Non-Agency RMBS
Dec. 31, 2013
Non-Agency RMBS
Dec. 31, 2012
Non-Agency RMBS
Jun. 27, 2013
Agency RMBS
Apr. 03, 2013
Agency RMBS
Dec. 31, 2013
Agency RMBS
Dec. 31, 2012
Agency RMBS
Dec. 31, 2013
Non-Agency RMBS Under Clean-Up Option
Dec. 31, 2013
Fixed Rate Securities
Dec. 31, 2012
Fixed Rate Securities
Dec. 31, 2013
Floating Rate Securities
Dec. 31, 2012
Floating Rate Securities
Face amount of securities purchased             $ 625,000 $ 1,300,000 $ 193,800 $ 22,700   $ 608,900            
Purchase of Agency ARM RMBS       605,114     553,000 835,600 121,300 1,200   645,500            
Agency RMBS contributed from Newcastle, face amount       1,000,000             1,000,000              
Face amount of securities sold               729,700                    
Proceeds from sale of real estate securities       521,865                            
Gain on sale of real estate securities               52,700                    
Face amount of securities paid down                           2,600        
Carrying value of securities paid down                           2,100        
Interest Income recognized on securities paid down                           600        
Non-agency bonds that could not be rated   6,300   6,300                            
RMBS principal receivable   10,600   10,600                            
Outstanding face amount   2,186,996 [1]   2,186,996 [1]       872,866 433,510     1,314,130 [2] 433,510 [2],[3]   6,600 1,100 2,200,000 432,400
Other-than-temporary impairment ("OTTI") on securities 1,000 1,237 3,756 4,993 [4]   3,800                        
OTTI - credit loss related to securities in an unrealized loss position 300                                  
Real estate securities acquired during the period with credit quality deterioration, face amount   1,100,000   1,100,000 351,800                          
Real estate securities acquired during the period with credit quality deterioration, expected cash flows   900,000   900,000 285,900                          
Real estate securities acquired during the period with credit quality deterioration, fair value   700,000   700,000 205,300                          
Non-Agency RMBS contributed from Newcastle, face amount                 258,000                  
Non-Agency RMBS contributed from Newcastle, fair value                 164,100                  
Real estate securities with credit quality deterioration, face amount at period end         342,000                          
Real estate securities with credit quality deterioration, carrying value at period end   $ 483,680   $ 483,680 $ 212,129                          
[1] The total outstanding face amount was $6.6 million for fixed rate securities and $2.2 billion for floating rate securities.
[2] Includes securities issued or guaranteed by U.S. Government agencies such as the Federal National Mortgage Association ("Fannie Mae") or the Federal Home Loan Mortgage Corporation ("Freddie Mac").
[3] The total outstanding face amount of fixed rate securities was $1.1 million, and of floating rate securities was $432.4 million.
[4] Represents our historical consolidated statement of income for the year ended December 31, 2013.