Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities
Net income (loss)	$ 13,116	$ (1,597)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Valuation allowance on loans held-for-sale		200
Loss on investments at fair value	1,339
Non-cash compensation expense	1,970	1,001
Amortization of deferred interest on loans	(3,470)
Amortization of deferred financing costs and premiums/discount on debt obligations	1,625	174
Changes in assets and liabilities, net
Accrued interest receivable, prepaid expenses, and other assets	(2,052)	1,244
Accounts payable, accrued expenses, and other liabilities	2,510	(266)
Net cash provided by operating activities	15,038	756
Cash flows from investing activities
Principal collections and proceeds from securities	100
Originations and fundings of loans receivable	(740,236)
Origination and exit fees received on loans receivable	7,121
Principal collections and proceeds from the sale of loans receivable and other assets	76,462	1,135
Decrease (increase) in restricted cash	(581)	1,527
Net cash (used in) provided by investing activities	(657,134)	2,662
Cash flows from financing activities
Borrowings under repurchase obligations	737,212
Repayments under repurchase obligations	(315,862)
Repayment of securitized debt obligations	(787)	(2,239)
Payment of deferred financing costs	(2,217)
Purchase of and distributions to non-controlling interests	(575)	(1,241)
Proceeds from issuance of common stock	256,093
Dividends paid on class A common stock	(13,276)
Net cash provided by (used in) financing activities	660,588	(3,480)
Net increase (decrease) in cash and cash equivalents	18,492	(62)
Cash and cash equivalents at beginning of period	52,342	15,423
Cash and cash equivalents at end of period	70,834	15,361
Supplemental disclosure of cash flows information
Payments of interest	(7,629)	(377)
Payments of income taxes	(1,160)	(38)
Supplemental disclosure of non-cash investing and financing activities
Dividends declared, not paid	(18,899)
Consolidation of subsidiaries		$ (38,913)