Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
ASSETS
Investment securities, available for sale, at fair value (including $42,271 and $40,734 held in securitization trusts as of June 30, 2016 and December 31, 2015, respectively and pledged securities of $700,817 and $639,683, as of June 30, 2016 and December 31, 2015, respectively)	[1]	$ 796,489	$ 765,454
Multi-family loans held in securitization trusts, at fair value		7,282,145	7,105,336
Derivative assets		291,680	228,775
Cash and cash equivalents		49,941	61,959
Investments in affiliates		73,839	87,662
Mezzanine loan and preferred equity		75,300	44,151
Goodwill		24,782	0
Receivables and other assets		144,432	83,995
Total Assets	[2]	9,388,142	9,056,242
Liabilities:
Outstanding Financing Arrangements		618,050	577,413	[3]
Securitized debt		244,016	116,541
Derivative liabilities		6,438	1,500
Payable for securities purchased		286,452	227,969
Accrued expenses and other liabilities		61,935	59,527
Subordinated debentures		45,000	45,000
Total liabilities	[2]	8,521,099	8,175,716
Commitments and Contingencies
Stockholders' Equity:
Common stock, $0.01 par value, 400,000,000 shares authorized, 109,569,315 and 109,401,721 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively		1,096	1,094
Additional paid-in capital		735,220	734,610
Accumulated other comprehensive income (loss)		7,594	(2,854)
Accumulated deficit		(39,202)	(11,583)
Company's stockholders' equity		863,967	880,526
Stockholders' Equity Attributable to Noncontrolling Interest		3,076	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		867,043	880,526
Total Liabilities and Stockholders' Equity		9,388,142	9,056,242
Series B Preferred Stock
Stockholders' Equity:
Preferred stock, value		72,397	72,397
Series C Preferred Stock
Stockholders' Equity:
Preferred stock, value		86,862	86,862
Portfolio investments
Liabilities:
Outstanding Financing Arrangements		618,050	577,413
Residential Mortgage Loans Held in Securitization
Liabilities:
Outstanding Financing Arrangements		174,798	212,155
Residential collateralized debt obligations
Liabilities:
Collateralized debt obligations		102,597	116,710
Multi-family collateralized debt obligations, at fair value
Liabilities:
Collateralized debt obligations		6,981,813	6,818,901
Residential mortgage loans held in securitization trusts, net
ASSETS
Residential mortgage loans held in securitization trusts (net)		106,173	119,921
Distressed residential mortgage loans, net
ASSETS
Residential mortgage loans held in securitization trusts (net)		$ 543,361	$ 558,989

[1] Includes $42.3 million and $40.7 million of investment securities for sale held in securitization trusts as of June 30, 2016 and December 31, 2015, respectively.

[2] Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of June 30, 2016 and December 31, 2015, assets of consolidated VIEs totaled $7,706,398 and $7,413,082, respectively, and the liabilities of consolidated VIEs totaled $7,352,486 and $7,077,175, respectively. See Note 7 for further discussion.

[3] Includes FHLBI advances amounting to $121.0 million as of December 31, 2015.