Commitments and Contingencies	6 Months Ended
Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Lease Commitments The Company pays monthly rent pursuant to two operating leases. The lease term for the Company’s headquarters in New York, New York extends through June 30, 2020. The lease provides for aggregate cash payments ranging over time of approximately $2.6 million per year, paid on a monthly basis, exclusive of escalation charges. In addition, as part of this lease agreement, the Company has provided the landlord a $785,000 irrevocable standby letter of credit fully collateralized by cash. The letter of credit may be drawn upon by the landlord in the event that the Company defaults under certain terms of the lease. In addition, the Company has a lease through December 31, 2021 for its off-site back-up facility located in Rockville Centre, New York, which provides for, among other things, lease payments totaling $32,000 annually. (b) Representations and Warranties in Connection with Loan Securitization Transactions In connection with the loan securitization transactions entered into by the Company, the Company has the obligation under certain circumstances to repurchase assets previously transferred to securitization vehicles upon breach of certain representations and warranties. As of June 30, 2018, the Company had no reserve established for repurchases of loans and was not aware of any material unsettled repurchase claims that would require the establishment of such a reserve. (See Note 15) (c) MBS Purchase Commitment At June 30, 2018, the Company had a commitment to purchase Non-Agency MBS at an estimated price of $61.0 million. The expected settlement amount is included in the Non-Agency MBS balances presented at fair value on the Company’s consolidated balance sheets, with a corresponding liability in Payable for unsettled MBS and residential whole loan purchases. (d) Residential Whole Loan Purchase Commitments At June 30, 2018, the Company has agreed, subject to the completion of due diligence and customary closing conditions, to purchase residential whole loans at an aggregate estimated purchase price of $506.9 million, including $57.6 million of purchased credit impaired loans held at carrying value, $414.9 million of other loans held at carrying value and $34.4 million of residential whole loans held at fair value. The expected settlement amounts are included in the Company’s consolidated balance sheets in Residential whole loans, at carrying value and Residential whole loans, at fair value, respectively, with a corresponding liability included in Payable for unsettled MBS and residential whole loan purchases.

Commitments and Contingencies

(a) Lease Commitments

The Company pays monthly rent pursuant to two operating leases. The lease term for the Company’s headquarters in New York, New York extends through June 30, 2020. The lease provides for aggregate cash payments ranging over time of approximately $2.6 million per year, paid on a monthly basis, exclusive of escalation charges. In addition, as part of this lease agreement, the Company has provided the landlord a $785,000 irrevocable standby letter of credit fully collateralized by cash. The letter of credit may be drawn upon by the landlord in the event that the Company defaults under certain terms of the lease. In addition, the Company has a lease through December 31, 2021 for its off-site back-up facility located in Rockville Centre, New York, which provides for, among other things, lease payments totaling $32,000 annually.

(b) Representations and Warranties in Connection with Loan Securitization Transactions

In connection with the loan securitization transactions entered into by the Company, the Company has the obligation under certain circumstances to repurchase assets previously transferred to securitization vehicles upon breach of certain representations and warranties. As of June 30, 2018, the Company had no reserve established for repurchases of loans and was not aware of any material unsettled repurchase claims that would require the establishment of such a reserve. (See Note 15)

At June 30, 2018, the Company had a commitment to purchase Non-Agency MBS at an estimated price of $61.0 million. The expected settlement amount is included in the Non-Agency MBS balances presented at fair value on the Company’s consolidated balance sheets, with a corresponding liability in Payable for unsettled MBS and residential whole loan purchases.

(d) Residential Whole Loan Purchase Commitments

At June 30, 2018, the Company has agreed, subject to the completion of due diligence and customary closing conditions, to purchase residential whole loans at an aggregate estimated purchase price of $506.9 million, including $57.6 million of purchased credit impaired loans held at carrying value, $414.9 million of other loans held at carrying value and $34.4 million of residential whole loans held at fair value. The expected settlement amounts are included in the Company’s consolidated balance sheets in Residential whole loans, at carrying value and Residential whole loans, at fair value, respectively, with a corresponding liability included in Payable for unsettled MBS and residential whole loan purchases.