Consolidated Statement of Operations - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Net Interest Income
Interest income		$ 101,520	$ 87,174
Interest expense		(70,464)	(59,617)
Total net interest income		31,056	27,557
Other Income (Loss)
Realized gains (losses) on securities and loans, net		(17,208)	(36,767)
Realized gains (losses) on financial derivatives, net		3,478	(25,447)
Realized gains (losses) on real estate owned, net		(1,372)	(56)
Unrealized gains (losses) on securities and loans, net		5,573	99,257
Unrealized gains (losses) on financial derivatives, net		30,365	2,763
Unrealized gains (losses) on real estate owned, net		(679)	4
Unrealized gains (losses) on other secured borrowings, at fair value, net		(12,524)	(29,680)
Unrealized gains (losses) on unsecured borrowings, at fair value		1,829	6,510
Net change from HECM reverse mortgage loans, at fair value		205,497	163,121
Net change related to HMBS obligations, at fair value		(177,982)	(131,534)
Other, net		7,508	3,504
Total other income (loss)		44,485	51,675
Expenses
Base management fee to affiliate (Net of fee rebates of $86 and $172, respectively)(2)	[1]	5,730	4,956
Other investment related expenses
Servicing expense		5,688	4,807
Debt issuance costs related to Other secured borrowings, at fair value		3,113	0
Other		4,435	3,869
Professional fees		2,970	3,556
Compensation and benefits		14,643	15,049
Other expenses		7,076	5,665
Total expenses		43,655	37,902
Net Income (Loss) before Income Tax Expense (Benefit) and Earnings (Losses) from Investments in Unconsolidated Entities		31,886	41,330
Income tax expense (benefit)		61	21
Earnings (losses) from investments in unconsolidated entities		2,226	3,444
Net Income (Loss)		34,051	44,753
Net income (loss) attributable to non-controlling interests		482	720
Dividends on preferred stock		6,654	5,117
Net Income (Loss) Attributable to Common Stockholders		$ 26,915	$ 38,916
Net Income (Loss) per Share of Common Stock:
Basic and Diluted (USD per share)		$ 0.32	$ 0.58

[1] See Note 16 for further details on management fee rebates.