CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest and other income:
Interest-Agency MBS	$ 19,892	$ 18,494	$ 52,765	$ 49,948
Interest-Non-Agency MBS	9,352	8,766	28,659	27,185
Interest-residential mortgage loans	6,795	8,359	21,205	26,783
Other interest income	25	11	83	35
Interest and Dividend Income, Operating, Total	36,064	35,630	102,712	103,951
Interest Expense:
Interest expense on repurchase agreements	15,242	8,615	37,073	26,973
Interest expense on asset-backed securities	6,626	7,918	20,593	24,932
Interest expense on junior subordinated notes	417	360	1,203	1,060
Interest Expense, Total	22,285	16,893	58,869	52,965
Net interest income	13,779	18,737	43,843	50,986
Operating Expenses:
Management fee to related party	(1,936)	(1,943)	(5,634)	(5,956)
General and administrative expenses	(1,438)	(1,493)	(4,234)	(4,751)
Total operating expenses	(3,374)	(3,436)	(9,868)	(10,707)
Other income (loss):
Income-rental properties	397	424	1,297	1,263
Impairment charge on Non-Agency MBS	(762)		(2,399)
Unrealized gain on Agency MBS held as trading investments	5,800	1,100	10,100	1,100
Gain on sales of residential mortgage loans held-for-investment		716	378	749
(Loss) gain on derivatives, net	(945)	9,493	(2,989)	(34,737)
Recovery on Non-Agency MBS	1	1	2	3
Total other income (loss)	2,264	12,988	4,192	(33,606)
Net income	12,669	28,289	38,167	6,673
Dividends on preferred stock	(2,115)	(1,651)	(5,895)	(4,923)
Net income to common stockholders	$ 10,554	$ 26,638	$ 32,272	$ 1,750
Basic earnings (loss) per common share	$ 0.11	$ 0.28	$ 0.34	$ 0.02
Diluted earnings (loss) per common share	$ 0.11	$ 0.27	$ 0.33	$ 0.02
Basic weighted average number of shares outstanding	97,547	95,881	96,323	96,644
Diluted weighted average number of shares outstanding	100,702	100,590	99,998	96,644
Agency MBS
Other income (loss):
(Loss) gain on sales of MBS	$ (2,276)	$ 1,206	$ (2,168)	$ (2,032)
Unrealized gain on Agency MBS held as trading investments	$ 5,849	$ 1,148	$ 10,071	$ 1,148