CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
ASSETS
Residential mortgage loans held-for-securitization, net of allowance for credit losses of $56 at June 30, 2020 and $0 at December 31, 2019		$ 131,110	$ 152,922
Residential mortgage loans held-for-investment through consolidated securitization trusts, net for allowance of credit losses of $147 at June 30, 2020 and $175 at December 31, 2019(1)	[1]	367,539	458,348
Residential real estate		13,051	13,499
Cash and cash equivalents		29,508	8,236
Reverse repurchase agreements			15,000
Restricted cash		137,088	104,699
Interest receivable		7,856	16,398
Derivative instruments at fair value		2,205	5,833
Right to use asset - operating lease		987	1,256
Prepaid expenses and other assets		6,345	8,779
Total Assets		2,715,498	4,938,631
Liabilities:
Accrued interest payable		5,187	16,757
Repurchase agreements		1,697,181	3,657,873
Warehouse line of credit		104,620	133,811
Asset-backed securities issued by securitization trusts	[1]	358,854	448,987
Junior subordinated notes		37,380	37,380
Derivative instruments at fair value		93,317	52,197
Derivative counterparty margin		2,056	367
Payable for purchased loans			5,545
Payable for terminated swaps		6,227
Accrued expenses and other liabilities		2,193	1,312
Long-term lease obligation		987	1,256
Total Liabilities		2,315,251	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 June 30, 2020 and December 31, 2019, respectively)		19,455	19,455
Stockholders' Equity:
Common Stock: par value $0.01 per share; authorized 200,000 shares, 99,047 and 98,849 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively)		990	988
Additional paid-in capital		983,832	983,401
Accumulated other comprehensive income consisting of unrealized gains and losses		57,352	65,984
Accumulated deficit		(756,545)	(593,039)
Total Stockholders' Equity		380,792	552,497
Total Liabilities and Stockholders' Equity		2,715,498	4,938,631
Agency MBS
ASSETS
Agency MBS at fair value			656,920
Derivative instruments at fair value		2,200
Liabilities:
Repurchase agreements		1,595,000
Derivative instruments at fair value		93,300
Agency MBS | Available-for-sale Securities
ASSETS
Agency MBS at fair value		1,827,777	2,853,131
Non-Agency MBS
ASSETS
Non-Agency MBS at fair value		192,032	643,610
Liabilities:
Repurchase agreements		102,181
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		4,952	8,897
Stockholders' Equity:
Total Stockholders' Equity		$ 990	$ 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 June 30, 2020 and December 31, 2019, total assets of the consolidated VIEs were $369 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 $360 million and $450 million (including accrued interest payable of $1.2 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.