Consolidated Balance Sheets - USD ($) |
Dec. 31, 2019 |
Dec. 31, 2018 |
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|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash and cash equivalents | [1] | $ 10,942,115 | $ 7,882,862 | |||
| Restricted cash | [1] | 5,069,715 | 51,330,950 | |||
| Commercial mortgage loans held-for-investment, at amortized cost | [1] | 635,260,420 | 555,172,891 | |||
| Receivables held in securitization trusts, at fair value | [1],[2] | 0 | 24,357,335 | |||
| Mortgage servicing rights, at fair value | [1] | 2,700,207 | 3,997,786 | |||
| Deferred offering costs | [1] | 40,000 | 126,516 | |||
| Accrued interest receivable | [1] | 2,342,354 | 2,430,790 | |||
| Investment related receivable | [1] | 0 | 33,042,234 | |||
| Other assets | [1] | 1,547,187 | 1,010,671 | |||
| Total assets | [1] | 657,901,998 | 679,352,035 | |||
| LIABILITIES: | ||||||
| Collateralized loan obligations, net | [1] | 505,930,065 | 503,978,918 | |||
| Secured Term Loan, net | [1] | 39,384,041 | 0 | |||
| Multi-family securitized debt obligations | [1],[2] | 0 | 19,231,331 | |||
| Accrued interest payable | [1] | 805,126 | 1,231,649 | |||
| Dividends payable | [1] | 1,776,912 | 1,465,610 | |||
| Fees and expenses payable to Manager | [1] | 991,981 | 1,175,000 | |||
| Other accounts payable and accrued expenses | [1] | 369,161 | 2,066,189 | |||
| Total liabilities | [1] | 549,257,286 | 529,148,697 | |||
| Commitments and contingencies | [1] | |||||
| EQUITY: | ||||||
| Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, 8.75% Series A cumulative redeemable, $25 liquidation preference, 0 issued and outstanding at December 31, 2019 and 1,610,000 issued and outstanding at December 31, 2018, respectively | [1] | 0 | 37,156,972 | |||
| Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 23,692,164 and 23,687,664 shares issued and outstanding, at December 31, 2019 and December 31, 2018, respectively | [1] | 236,877 | 236,832 | |||
| Additional paid-in capital | [1] | 228,135,116 | 231,305,743 | |||
| Cumulative distributions to stockholders | [1] | (122,236,981) | (114,757,019) | |||
| Accumulated earnings (deficit) | [1] | 2,410,200 | (3,838,690) | |||
| Total stockholders' equity | [1] | 108,545,212 | 150,103,838 | |||
| Noncontrolling interests | [1] | 99,500 | 99,500 | |||
| Total equity | [1] | 108,644,712 | 150,203,338 | |||
| Total liabilities and equity | [1] | $ 657,901,998 | $ 679,352,035 | |||
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| X | ||||||||||
- Definition Cash Held In Securitization Trusts No definition available.
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| X | ||||||||||
- Definition Collateralized Loan Obligations No definition available.
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| X | ||||||||||
- Definition Fair value of mortgage service rights as of balance sheet date No definition available.
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| X | ||||||||||
- Definition Fair value of multi-family securitized debt obligations as of balance sheet date. No definition available.
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| X | ||||||||||
- Definition It represents carrying value as on balance sheet date under pay down receivable. No definition available.
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| X | ||||||||||
- Definition The amount as of the balance sheet date by which cumulative distributions to shareholders (or partners) exceed retained earnings (or accumulated earnings). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Specific incremental costs directly attributable to a proposed or actual offering of securities which are deferred at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of interest payable on debt, including, but not limited to, trade payables. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of liabilities incurred and payable to vendors for goods and services received classified as other, and expenses incurred but not yet paid, payable within one year or the operating cycle, if longer. No definition available.
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| X | ||||||||||
- Definition Amount of assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying amount of collateralized debt obligations with maturities initially due after one year or beyond the operating cycle, if longer, excluding the current portion. Obligations include, but not limited to, mortgage loans, chattel loans, and other borrowings secured by assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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