Condensed Consolidated Statement of Operations - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Interest Income
Interest income		$ 40,146,000	$ 43,075,000	$ 126,115,000	$ 134,463,000
Interest expense		(10,604,000)	(12,937,000)	(33,111,000)	(49,713,000)
Total net interest income		29,542,000	30,138,000	93,004,000	84,750,000
Other Income (Loss)
Realized gains (losses) on securities and loans, net		6,359,000	1,446,000	8,627,000	(2,335,000)
Realized (gains) losses on financial derivatives, net		(1,782,000)	(1,620,000)	4,438,000	(25,702,000)
Realized gains (losses) on real estate owned, net		(50,000)	(18,000)	(63,000)	121,000
Unrealized gains (losses) on securities and loans, net		(3,212,000)	24,208,000	5,006,000	(65,418,000)
Unrealized gains (losses) on financial derivatives, net		1,155,000	(298,000)	6,183,000	(2,109,000)
Unrealized gains (losses) on real estate owned, net		672,000	122,000	(1,435,000)	(462,000)
Other, net		2,986,000	(2,747,000)	9,310,000	(1,503,000)
Total other income (loss)		6,128,000	21,093,000	32,066,000	(97,408,000)
Expenses
Base management fee to affiliate (Net of fee rebates)	[1]	3,675,000	2,981,000	10,308,000	8,330,000
Incentive Fee Expense		5,255,000	0	12,412,000	0
Other investment related expenses
Servicing expense		1,182,000	2,379,000	3,142,000	7,402,000
Debt issuance costs related to Other secured borrowings, at fair value		0	0	3,704,000	2,075,000
Other		1,697,000	1,199,000	5,719,000	3,328,000
Professional fees		1,202,000	1,209,000	3,437,000	3,819,000
Compensation expense		1,554,000	1,085,000	4,386,000	2,813,000
Other expenses		1,682,000	1,625,000	4,893,000	4,876,000
Total expenses		16,247,000	10,478,000	48,001,000	32,643,000
Net Income (Loss) before Income Tax Expense (Benefit) and Earnings (Losses) from Investments in Unconsolidated Entities		19,423,000	40,753,000	77,069,000	(45,301,000)
Income Tax Expense (Benefit)		(2,009,000)	2,494,000	3,149,000	3,490,000
Earnings (losses) from investments in unconsolidated entities		2,549,000	11,443,000	27,786,000	10,590,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total		23,981,000	49,702,000	101,706,000	(38,201,000)
Net income (loss) attributable to non-controlling interests		1,476,000	1,559,000	4,809,000	1,894,000
Dividends on preferred stock		1,941,000	1,940,000	5,822,000	5,822,000
Net Income (Loss) Attributable to Common Stockholders		$ 20,564,000	$ 46,203,000	$ 91,075,000	$ (45,917,000)
Net Income (Loss) per Share of Common Stock:
Basic and Diluted (USD per share)		$ 0.41	$ 1.06	$ 1.99	$ (1.06)

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