CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Interest income
Mortgage-backed and other securities		$ 41,637	$ 39,434
Commercial loan		537	576
Total interest income		42,174	40,010
Interest expense
Repurchase agreements	[1]	(2,104)	(1,660)
Total interest expense		(2,104)	(1,660)
Net interest income		44,278	41,670
Other income (loss)
Gain (loss) on investments, net		(504,388)	(331,857)
(Increase) decrease in provision for credit losses		0	938
Equity in earnings (losses) of unconsolidated ventures		71	(94)
Gain (loss) on derivative instruments, net		238,860	286,961
Other investment income (loss), net		55	(16)
Total other income (loss)		(265,402)	(44,068)
Expenses
Management fee – related party		5,274	4,884
General and administrative		2,024	1,993
Total expenses		7,298	6,877
Net income (loss)		(228,422)	(9,275)
Dividends to preferred stockholders		8,394	11,107
Net income (loss) attributable to common stockholders		$ (236,816)	$ (20,382)
Earnings (loss) per share:
Basic (in USD per share)		$ (0.72)	$ (0.09)
Diluted (in USD per share)		$ (0.72)	$ (0.09)

[1] Negative interest expense on repurchase agreements is due to amortization of net deferred gains on de-designated interest rate swaps that exceeds current period interest expense on repurchase agreements. For further information on amortization of amounts classified in accumulated other comprehensive income before we discontinued hedge accounting, see Note 9 - "Derivatives and Hedging Activities" and Note 13 - "Stockholders' Equity".