CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
ASSETS
Residential mortgage loans held-for-securitization, net of allowance for credit losses of $56 at March 31, 2020 and $0 at December 31, 2019		$ 141,645	$ 152,922
Residential mortgage loans held-for-investment through consolidated securitization trusts, net for allowance of credit losses of $167 at March 31, 2020 and $175 at December 31, 2019	[1]	416,571	458,348
Residential real estate		13,260	13,499
Cash and cash equivalents		55,561	8,236
Reverse repurchase agreements			15,000
Restricted cash		152,453	104,699
Interest receivable		12,279	16,398
Derivative instruments at fair value		3,094	5,833
Right to use asset - operating lease		1,121	1,256
Receivable for sold securities		65,828
Prepaid expenses and other assets		7,253	8,779
Total Assets		3,551,011	4,938,631
Liabilities:
Accrued interest payable		11,942	16,757
Repurchase agreements		2,473,134	3,657,873
Warehouse line of credit		116,221	133,811
Asset-backed securities issued by securitization trusts	[1]	407,243	448,987
Junior subordinated notes		37,380	37,380
Derivative instruments at fair value		102,802	52,197
Derivative counterparty margin		6,633	367
Payable for purchased loans			5,545
Payable for terminated swaps		4,091
Payable to counterparty		3,098
Accrued expenses and other liabilities		1,000	1,312
Long-term lease obligation		1,121	1,256
Total Liabilities		3,166,962	4,366,679
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 March 31, 2020 and December 31, 2019, respectively)		19,455	19,455
Stockholders' Equity:
Common Stock: par value $0.01 per share; authorized 200,000 shares, 98,936 and 98,849 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively)		989	988
Additional paid-in capital		983,669	983,401
Accumulated other comprehensive income consisting of unrealized gains and losses		65,960	65,984
Accumulated deficit		(781,187)	(593,039)
Total Stockholders' Equity		364,594	552,497
Total Liabilities and Stockholders' Equity		3,551,011	4,938,631
Agency MBS
ASSETS
Agency MBS at fair value			656,920
Derivative instruments at fair value		3,100
Liabilities:
Repurchase agreements		2,203,224
Agency MBS | Available-for-sale Securities
ASSETS
Agency MBS at fair value		2,400,260	2,853,131
Non-Agency MBS
ASSETS
Non-Agency MBS at fair value		281,686	643,610
Liabilities:
Repurchase agreements		269,910
Non-Agency MBS | Available-for-sale Securities
ASSETS
Non-Agency MBS at fair value			643,610
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	48,626
Total Stockholders' Equity		48,626	48,626
Preferred Stock
Liabilities:
Dividends payable on stock		2,297	2,297
Common Stock
Liabilities:
Dividends payable on stock			8,897
Stockholders' Equity:
Total Stockholders' Equity		$ 989	$ 988

[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 March 31, 2020 and December 31, 2019, total assets of the consolidated VIEs were $418 million and $460 million (including accrued interest receivable of $1.3 million and $1.5 million), respectively (which is recorded above in the line item entitled “Interest receivable”), and total liabilities were $409 million and $450 million (including accrued interest payable of $1.3 million and $1.4 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.See accompanying notes to unaudited consolidated financial statements.