CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 188,708,687	$ 50,417,745
Restricted cash (includes $46,695,819 and $216,405,894 from consolidated VIEs, respectively)	48,301,244	218,100,529
Loans and investments, net (includes $968,970,064 and $968,600,472 from consolidated VIEs, respectively)	1,450,334,341	1,459,475,650
Available-for-sale securities, at fair value	2,022,030	2,499,709
Investments in equity affiliates	30,870,235	4,869,066
Real estate owned, net (includes $0 and $80,732,144 from consolidated VIEs, respectively)	60,845,509	84,925,641
Real estate held-for-sale, net	8,669,203	14,381,733
Due from related party (includes $36,451 and $0 from consolidated VIEs, respectively)	8,082,265	36,515
Other assets (includes $6,969,201 and $9,625,969 from consolidated VIEs, respectively)	29,558,430	31,787,451
Total assets	1,827,391,944	1,866,494,039
Liabilities and Equity:
Credit facilities and repurchase agreements	136,252,135	180,046,999
Collateralized loan obligations (includes $758,899,661 and $453,101,661 from consolidated VIEs, respectively)	758,899,661	453,101,661
Collateralized debt obligations (includes $0 and $331,219,478 from consolidated VIEs, respectively)		331,219,478
Senior unsecured notes	93,764,994	93,036,503
Junior subordinated notes to subsidiary trust issuing preferred securities	157,117,130	156,391,419
Note payable		1,300,000
Mortgage note payable - real estate owned	27,155,000	21,865,136
Mortgage note payable - real estate held-for-sale		9,119,221
Due to related party	3,428,333	2,653,333
Due to borrowers	34,629,595	32,972,606
Other liabilities (includes $1,224,193 and $7,385,474 from consolidated VIEs, respectively)	51,054,321	49,332,212
Total liabilities	$ 1,262,301,169	$ 1,331,038,568
Commitments and contingencies
Equity:
Preferred stock, cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized; 8.25% Series A, $38,787,500 aggregate liquidation preference; 1,551,500 shares issued and outstanding; 7.75% Series B, $31,500,000 aggregate liquidation preference; 1,260,000 shares issued and outstanding; 8.50% Series C, $22,500,000 aggregate liquidation preference; 900,000 shares issued and outstanding	$ 89,295,905	$ 89,295,905
Common stock, $0.01 par value: 500,000,000 shares authorized; 50,962,516 and 50,477,308 shares issued and outstanding, respectively	509,625	504,773
Additional paid-in capital	616,244,196	612,806,365
Accumulated deficit	(136,118,001)	(152,483,322)
Accumulated other comprehensive loss	(4,840,950)	(14,668,250)
Total equity	565,090,775	535,455,471
Total liabilities and equity	$ 1,827,391,944	$ 1,866,494,039