Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Noncontrolling Interest, Increase from Business Combination			$ 3,078
Cash Flows from Operating Activities:
Net income (loss)	$ 14,433	$ 24,631	31,384	$ 48,174
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization (accretion)			3,745	(1,298)
Realized (gain) loss on investment securities and related hedges, net	(1,761)	1,291	(3,027)	167
Realized gain on distressed residential mortgage loans			(5,574)	(4,290)
Unrealized loss on investment securities and related hedges, net	667	(4,716)	3,159	1,012
Gain on de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations	0	0	0	(1,483)
Gain on remeasurement of existing membership interest in businesses acquired			(5,045)	0
Gain on bargain purchase on businesses acquired			(65)	0
Unrealized gain on loans and debt held in multi-family securitization trusts			(1,602)	(19,046)
Net decrease in loans held for sale			432	10
(Recovery of) provision for loan losses	(42)	112	(688)	548
Income from investments in limited partnerships and limited liability companies			(8,794)	(5,856)
Distributions of income from investments in limited partnership and limited liability companies			9,602	3,924
Amortization of stock based compensation, net			514	458
Changes in operating assets and liabilities:
Receivables and other assets			(1,060)	6,919
Accrued expenses and other liabilities			1,035	(14,667)
Net cash provided by operating activities			24,016	14,572
Payments to Acquire Businesses, Net of Cash Acquired			(28,455)	0
Cash Flows from Investing Activities:
Restricted cash			(34,934)	3,167
Proceeds from Sale of Long-term Investments			177,874	0
Purchases of investment securities			(274,623)	(5,265)
Payments to Acquire Available-for-sale Securities, Equity			5,423	(5,445)
Purchases of other assets			(81)	(6)
Funding of mezzanine loans, equity and preferred equity investments			(8,430)	(25,101)
Net proceeds (payments) on other derivative instruments settled during the period			2,996	(2,178)
Principal paydowns on investment securities - available for sale			58,602	37,748
Proceeds from Sale of Real Estate Held-for-investment			1,000	547
Proceeds from sales of loans held in multi-family securitization trusts			0	44,261
Net cash (used in) provided by investing activities			(17,422)	118,140
Cash Flows from Financing Activities:
Net Proceeds from (payments made on) financing arrangements, including FHLBI advances and payments			3,280	(68,514)
Proceeds from issuance of securitized debt			167,724	0
Common stock issuance, net			98	31,832
Preferred stock issuance, net	0	86,862
Payments made on residential collateralized debt obligations			(41,336)	(41,572)
Early Repayment of Senior Debt			16,255
Redemption of preferred equity				0
Net cash used in financing activities			(18,612)	(101,849)
Net (Decrease) Increase in Cash and Cash Equivalents			(12,018)	30,863
Cash and Cash Equivalents - Beginning of Period			61,959	75,598
Cash and Cash Equivalents - End of Period	49,941	106,461	49,941	106,461
Supplemental Disclosure:
Cash paid for interest	150,569	157,462
Cash paid for income taxes	1,555	2,300
Non-Cash Investment Activities:
Sales of investment securities not yet settled	0	121,508
Purchase of investment securities not yet settled	286,452	389,097
Deconsolidation of multi-family loans held in securitization trusts	0	1,075,529
Deconsolidation of multi-family collateralized debt obligations	0	1,031,268
Common Stock
Cash Flows from Financing Activities:
Dividends paid			(52,515)	(57,523)
Non-Cash Financing Activities:
Dividends declared on stock to be paid in subsequent period	26,296	29,538	26,296	29,538
Preferred Stock
Cash Flows from Financing Activities:
Dividends paid			(6,450)	(2,906)
Non-Cash Financing Activities:
Dividends declared on stock to be paid in subsequent period	$ 3,225	$ 3,087	3,225	3,087
Distressed Residential Mortgage Loans
Cash Flows from Investing Activities:
Principal repayments received on loans			13,245	11,634
Purchases of residential mortgage loans and distressed residential mortgage loans			(46,595)	(30,038)
Distressed residential mortgage loans held in securitization trust, (net)
Cash Flows from Investing Activities:
Principal repayments received on loans			57,562	51,115
Multi-family collateralized debt obligations, at fair value
Cash Flows from Investing Activities:
Principal repayments received on loans			58,994	37,701
Residential collateralized debt obligations
Cash Flows from Financing Activities:
Payments made on residential collateralized debt obligations			(14,171)	(12,334)
Collateralized Loan Obligation
Cash Flows from Financing Activities:
Payments made on residential collateralized debt obligations			$ (58,987)	$ (37,694)