CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
ASSETS
Agency MBS at fair value (including $3,419,375 and $3,433,252 pledged to counterparties at December 31, 2019 and December 31, 2018, respectively)		$ 3,510,051	$ 3,548,719
Non-Agency MBS at fair value (including $535,315 and $726,428 pledged to counterparties at December 31, 2019 and December 31, 2018, respectively)		643,610	795,203
Residential mortgage loans held-for-securitization		152,922	11,660
Residential mortgage loans held-for-investment through consolidated securitization trusts	[1]	458,348	549,016
Residential real estate		13,499	13,782
Cash and cash equivalents		8,236	3,165
Reverse repurchase agreements		15,000	20,000
Restricted cash		104,699	30,296
Interest receivable		16,398	16,872
Derivative instruments at fair value		5,833	46,207
Right to use asset - operating lease		1,256	1,794
Prepaid expenses and other assets		8,779	2,986
Total Assets		4,938,631	5,039,700
Liabilities:
Accrued interest payable		16,757	24,828
Repurchase agreements		3,657,873	3,811,627
Warehouse line of credit		133,811
Asset-backed securities issued by securitization trusts	[1]	448,987	539,651
Junior subordinated notes		37,380	37,380
Derivative instruments at fair value		52,197	15,901
Payable for purchased loans		5,545	11,660
Payable for purchased securities		367
Accrued expenses and other liabilities		1,312	654
Long-term lease obligation		1,256	1,794
Total Liabilities		4,366,679	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 December 31, 2019 and December 31, 2018, respectively)		19,455	19,455
Stockholders' Equity:
Common Stock: par value $0.01 per share; authorized 200,000 shares, 98,849 and 98,483 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively)		988	985
Additional paid-in capital		983,401	981,964
Accumulated other comprehensive income (loss) consisting of unrealized gains and losses		65,984	(30,792)
Accumulated deficit		(593,039)	(485,988)
Total Stockholders' Equity		552,497	561,650
Total Liabilities and Stockholders' Equity		4,938,631	5,039,700
Agency MBS
ASSETS
Agency MBS at fair value (including $3,419,375 and $3,433,252 pledged to counterparties at December 31, 2019 and December 31, 2018, respectively)		3,419,375	3,433,252
Non-Agency MBS at fair value (including $535,315 and $726,428 pledged to counterparties at December 31, 2019 and December 31, 2018, respectively)			3,548,719
Liabilities:
Repurchase agreements		3,230,000	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		8,897	12,803
Stockholders' Equity:
Total Stockholders' Equity		$ 988	$ 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 December 31, 2019 and December 31, 2018, total assets of the consolidated VIEs were $460 million and $551 million (including accrued interest receivable of $1.5 million and $1.8 million), respectively (which is recorded above in the line item “Interest and dividends receivable”), and total liabilities were $450 million and $541 million (including accrued interest payable of $1.4 million and $1.7 million), respectively (which is recorded above in the line item “Accrued interest payable”). Please refer to Note 5, “Variable Interest Entities,” for further discussion.