CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income
Residential mortgage investments		$ 186,261	$ 320,109	$ 274,733
Other		474	2,789	1,752
Interest income		186,735	322,898	276,485
Interest expense
Secured borrowings		(67,891)	(246,140)	(206,881)
Unsecured borrowings		(7,620)	(7,611)	(7,611)
Interest expense		(75,511)	(253,751)	(214,492)
Net interest income		111,224	69,147	61,993
Other (expense) income:
Loss on derivative instruments (net)	[1]	(159,547)	(90,578)
Loss on sale of investments (net)		(67,820)	(1,365)
Compensation-related expense		(8,278)	(8,197)	(7,759)
Other general and administrative expense		(5,011)	(4,494)	(4,527)
Miscellaneous other (expense) revenue		141	(149)	(365)
Operating expenses		(240,797)	(104,485)	(11,921)
Net (loss) income		(129,573)	(35,338)	50,072
Less preferred stock dividends		(19,368)	(19,368)	(19,368)
Net (loss) income available to common stockholders		$ (148,941)	$ (54,706)	$ 30,704
Basic and diluted net (loss) income per common share		$ (1.56)	$ (0.62)	$ 0.34

[1] Included in “Loss on derivative instruments (net)” on the face of the Statement of Operations.