CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest Income:
Residential whole loans	$ 128,048	$ 102,354	$ 247,558	$ 201,820
Securities, at fair value	9,948	5,294	17,256	10,569
Other interest-earning assets	2,622	1,349	4,973	2,855
Cash and cash equivalent investments	3,732	324	6,768	426
Interest Income	144,350	109,321	276,555	215,670
Interest Expense:
Asset-backed and other collateralized financing arrangements	95,884	52,805	184,764	92,170
Other interest expense	3,961	3,937	7,917	7,868
Interest Expense	99,845	56,742	192,681	100,038
Net Interest Income	44,505	52,579	83,874	115,632
(Provision)/Reversal of Provision for Credit Losses on Residential Whole Loans	(294)	(1,817)	(281)	1,694
Provision for Credit Losses on Other Assets	0	(28,579)	0	(28,579)
Net Interest Income/(Expense) after Provision for Credit Losses	44,211	22,183	83,593	88,747
Other (Loss)/Income, net:
Net loss on residential whole loans measured at fair value through earnings	(130,703)	(218,181)	(1,529)	(506,116)
Impairment and other net loss on securities and other portfolio investments	(4,569)	(12,046)	(1,638)	(15,747)
Net gain on real estate owned	2,153	7,185	6,095	15,917
Net gain on derivatives used for risk management purposes	60,451	47,804	39,243	141,905
Net gain/(loss) on securitized debt measured at fair value through earnings	27,394	84,573	(24,331)	148,690
Lima One - origination, servicing and other fee income	11,477	10,673	20,453	25,167
Other, net	5,496	3,544	8,668	6,220
Other (Loss)/Income, net	(28,301)	(76,448)	46,961	(183,964)
Operating and Other Expense:
Compensation and benefits	21,771	19,060	42,401	38,616
Other general and administrative expense	11,169	10,507	21,560	19,204
Loan servicing, financing and other related costs	7,598	13,235	17,137	23,636
Amortization of intangible assets	1,300	3,300	2,600	6,600
Operating and Other Expense	41,838	46,102	83,698	88,056
Net (Loss)/Income	(25,928)	(100,367)	46,856	(183,273)
Less Preferred Stock Dividend Requirement	8,218	8,219	16,437	16,438
Net (Loss)/Income Available to Common Stock and Participating Securities	$ (34,146)	$ (108,586)	$ 30,419	$ (199,711)
Basic (Loss)/Earnings per Common Share (in dollars per share)	$ (0.34)	$ (1.06)	$ 0.30	$ (1.91)
Diluted (Loss)/Earnings per Common Share (in dollars per share)	$ (0.34)	$ (1.06)	$ 0.29	$ (1.91)