Condensed Consolidated Statement of Operations - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Interest Income
Interest income		$ 45,890,000	$ 39,281,000	$ 85,970,000	$ 91,389,000
Interest expense		(11,166,000)	(14,686,000)	(22,508,000)	(36,776,000)
Total net interest income		34,724,000	24,595,000	63,462,000	54,613,000
Other Income (Loss)
Realized gains (losses) on securities and loans, net		(2,009,000)	(16,040,000)	2,268,000	(3,780,000)
Realized (gains) losses on financial derivatives, net		425,000	(11,676,000)	6,220,000	(24,082,000)
Realized gains (losses) on real estate owned, net		(74,000)	(211,000)	(13,000)	139,000
Unrealized gains (losses) on securities and loans, net		10,000,000	44,112,000	8,218,000	(89,626,000)
Unrealized gains (losses) on financial derivatives, net		(5,683,000)	8,173,000	5,028,000	(1,811,000)
Unrealized gains (losses) on real estate owned, net		(1,314,000)	(228,000)	(2,107,000)	(584,000)
Other, net		4,363,000	(435,000)	6,323,000	1,243,000
Total other income (loss)		5,708,000	23,695,000	25,937,000	(118,501,000)
Expenses
Base management fee to affiliate (Net of fee rebates)	[1]	3,355,000	2,906,000	6,633,000	5,349,000
Incentive Fee Expense		7,157,000	0	7,157,000	0
Other investment related expenses
Servicing expense		974,000	2,493,000	1,960,000	5,024,000
Debt issuance costs related to Other secured borrowings, at fair value		2,039,000	2,075,000	3,704,000	2,075,000
Other		1,818,000	707,000	4,022,000	2,130,000
Professional fees		1,037,000	1,333,000	2,235,000	2,610,000
Compensation expense		1,412,000	941,000	2,831,000	1,728,000
Other expenses		1,633,000	1,497,000	3,212,000	3,250,000
Total expenses		19,425,000	11,952,000	31,754,000	22,166,000
Net Income (Loss) before Income Tax Expense (Benefit) and Earnings (Losses) from Investments in Unconsolidated Entities		21,007,000	36,338,000	57,645,000	(86,054,000)
Income Tax Expense (Benefit)		3,140,000	1,542,000	5,157,000	995,000
Earnings (losses) from investments in unconsolidated entities		18,602,000	5,643,000	25,237,000	(854,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total		36,469,000	40,439,000	77,725,000	(87,903,000)
Net income (loss) attributable to non-controlling interests		1,874,000	1,220,000	3,333,000	335,000
Dividends on preferred stock		1,940,000	1,941,000	3,881,000	3,882,000
Net Income (Loss) Attributable to Common Stockholders		$ 32,655,000	$ 37,278,000	$ 70,511,000	$ (92,120,000)
Net Income (Loss) per Share of Common Stock:
Basic and Diluted (USD per share)		$ 0.75	$ 0.85	$ 1.61	$ (2.13)

[1] See Note 13 for further details on management fee rebates.