CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
ASSETS
Agency MBS at fair value (including $2,809,288 and $3,433,252 pledged to counterparties at June 30, 2019 and December 31, 2018, respectively)		$ 2,946,321	$ 3,548,719
Non-Agency MBS at fair value (including $643,686 and $726,428 pledged to counterparties at June 30, 2019 and December 31, 2018, respectively)		718,109	795,203
Residential mortgage loans held-for-securitization		121,715	11,660
Residential mortgage loans held-for-investment	[1]	514,749	549,016
Residential real estate		13,658	13,782
Cash and cash equivalents		17,028	3,165
Reverse repurchase agreements			20,000
Restricted cash		122,403	30,296
Interest and dividends receivable		17,330	16,872
Derivative instruments at fair value		5,003	46,207
Right to use asset - operating lease		1,525	1,794
Prepaid expenses and other		2,842	2,986
Total Assets		4,480,683	5,039,700
Liabilities:
Accrued interest payable		21,246	24,828
Repurchase agreements		3,155,843	3,811,627
Warehouse line of credit		92,511
Asset-backed securities issued by securitization trusts	[1]	505,385	539,651
Junior subordinated notes.		37,380	37,380
Derivative instruments at fair value		68,695	15,901
Payable for purchased loans		16,098	11,660
Derivative counterparty margin		604
Accrued expenses and other		3,177	654
Long-term lease obligation		1,525	1,794
Total Liabilities		3,915,616	4,458,595
Series B Cumulative Convertible Preferred Stock: par value $0.01 per share; liquidating preference $25.00 per share ($19,494 and $19,494, respectively); 780 and 780 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively		19,455	19,455
Stockholders' Equity:
Common Stock: par value $0.01 per share; authorized 200,000 shares, 98,683 and 98,483 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively		987	985
Additional paid-in capital		982,770	981,964
Accumulated other comprehensive income consisting of unrealized gains and losses		48,614	(30,792)
Accumulated deficit		(581,922)	(485,988)
Total Stockholders' Equity		545,612	561,650
Total Liabilities and Stockholders' Equity		4,480,683	5,039,700
Agency MBS
ASSETS
Agency MBS at fair value (including $2,809,288 and $3,433,252 pledged to counterparties at June 30, 2019 and December 31, 2018, respectively)		2,809,288	3,433,252
Liabilities:
Repurchase agreements		2,645,000	3,235,000
Series A Preferred Stock
Stockholders' Equity:
Cumulative Preferred Stock		46,537	46,537
Total Stockholders' Equity		46,537	46,537
Series C Preferred Stock
Stockholders' Equity:
Cumulative Preferred Stock		48,626	48,944
Total Stockholders' Equity		48,626	48,944
Preferred Stock
Liabilities:
Dividends payable on stock		2,297	2,297
Common Stock
Liabilities:
Dividends payable on stock		10,855	12,803
Stockholders' Equity:
Total Stockholders' Equity		$ 987	$ 985

[1] The consolidated balance sheets include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations and liabilities of the VIEs for which creditors do not have recourse to the Company. At June 30, 2019 and December 31, 2018, total assets of the consolidated VIEs were $516 million and $551 million (including accrued interest receivable of $1.7 million and $1.8 million), respectively (which is recorded above in the line item entitled “Interest receivable”), and total liabilities were $507 million and $541 million (including accrued interest payable of $1.7 million and $1.7 million), respectively (which is recorded in the line item above entitled “Accrued interest payable”). Please refer to Note 5, “Variable Interest Entities,” for further discussion.