CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest Income:
Residential whole loans	$ 102,354	$ 69,016	$ 201,820	$ 133,554
Securities, at fair value	5,294	15,345	10,569	31,804
Other interest-earning assets	1,349	108	2,855	108
Cash and cash equivalent investments	324	59	426	113
Interest Income	109,321	84,528	215,670	165,579
Interest Expense:
Asset-backed and other collateralized financing arrangements	52,805	21,640	92,170	47,691
Other interest expense	3,937	3,915	7,868	7,934
Interest Expense	56,742	25,555	100,038	55,625
Net Interest Income	52,579	58,973	115,632	109,954
(Provision)/Reversal of Provision for Credit Losses on Residential Whole Loans	(1,817)	8,867	1,694	31,617
Provision for Credit Losses on Other Assets	(28,579)	0	(28,579)	0
Net Interest Income after (Provision)/Reversal of Provision for Credit Losses	22,183	67,840	88,747	141,571
Other (Loss)/Income, net:
Net mark-to-market and other net (loss)/gain on residential whole loans measured at fair value	(216,414)	6,021	(504,789)	37,510
Net gains/(losses) on derivatives used for risk management purposes	47,804	(1,057)	141,905	(1,057)
Net mark-to-market on Securitized debt measured at fair value	84,573	(232)	148,690	(1,243)
Net gain on real estate owned	7,185	4,456	15,917	6,896
Lima One - origination, servicing and other fee income	10,673	0	25,167	0
Other, net	(10,269)	12,459	(10,854)	13,860
Other (Loss)/Income, net	(76,448)	21,647	(183,964)	55,966
Operating and Other Expense:
Compensation and benefits	19,060	8,886	38,616	17,323
Other general and administrative expense	10,507	7,887	19,204	14,679
Loan servicing, financing and other related costs	13,235	6,000	23,636	13,299
Amortization of intangible assets	3,300	0	6,600	0
Operating and Other Expense	46,102	22,773	88,056	45,301
Net (Loss)/Income	(100,367)	66,714	(183,273)	152,236
Less Preferred Stock Dividend Requirement	8,219	8,219	16,438	16,438
Net (Loss)/Income Available to Common Stock and Participating Securities	$ (108,586)	$ 58,495	$ (199,711)	$ 135,798
Basic (Loss)/Earnings per Common Share (in dollars per share)	$ (1.06)	$ 0.53	$ (1.91)	$ 1.21
Diluted (Loss)/Earnings per Common Share (in dollars per share)	$ (1.06)	$ 0.53	$ (1.91)	$ 1.20