Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income and interest expense
Interest income	$ 90,046	$ 75,497	$ 278,488	$ 202,535
Interest expense	(70,497)	(45,072)	(211,057)	(95,581)
Net interest income	19,549	30,425	67,431	106,954
Other revenue
Other income, net	5,439	1,362	13,918	2,009
Revenue from real estate owned operations	2,028	0	3,556	0
Total other revenue	7,467	1,362	17,474	2,009
Other expenses
Professional fees	1,257	1,074	4,159	3,370
General and administrative	718	1,197	2,875	3,315
Stock compensation expense	1,153	932	4,770	3,526
Servicing and asset management fees	648	494	801	1,481
Management fee	5,545	5,906	17,513	17,471
Incentive management fee	0	0	0	5,183
Expenses from real estate owned operations	3,098	0	4,946	0
Total other expenses	12,419	9,603	35,064	34,346
Gain on sale of real estate owned, net	0	0	0	13,291
Credit loss expense, net	(75,805)	(136,666)	(172,658)	(183,840)
(Loss) income before income taxes	(61,208)	(114,482)	(122,817)	(95,932)
Income tax expense, net	(5)	(125)	(194)	(328)
Net (loss) income	(61,213)	(114,607)	(123,011)	(96,260)
Preferred stock dividends and participating securities' share in earnings	(3,423)	(3,307)	(10,526)	(10,026)
Net (loss) income attributable to common stockholders - see Note 11	$ (64,636)	$ (117,914)	$ (133,537)	$ (106,286)
Earnings Per Share, Basic and Diluted EPS [Abstract]
(Loss) earnings per common share, basic (in USD per share)	$ (0.83)	$ (1.52)	$ (1.72)	$ (1.38)
(Loss) earnings per common share, diluted (in USD per share)	$ (0.83)	$ (1.52)	$ (1.72)	$ (1.38)
Weighted average number of common shares outstanding
Basic: (in shares)	77,730,715	77,403,487	77,520,736	77,259,382
Diluted: (in shares)	77,730,715	77,403,487	77,520,736	77,259,382
Other comprehensive (loss) income
Net (loss) income	$ (61,213)	$ (114,607)	$ (123,011)	$ (96,260)
Comprehensive net (loss) income	$ (61,213)	$ (114,607)	$ (123,011)	$ (96,260)