CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
ASSETS
Investment securities, available for sale, at fair value (including $43,897 and $40,734 held in securitization trusts as of December 31, 2016 and December 31, 2015, respectively and pledged securities of $690,592 and $639,683, as of December 31, 2016 and December 31, 2015, respectively)	[1]	$ 818,976	$ 765,454
Multi-family loans held in securitization trusts, at fair value		6,939,844	7,105,336
Derivative assets		150,296	228,775
Cash and cash equivalents		83,554	61,959
Investment in unconsolidated entities		79,259	87,662
Mezzanine loan and preferred equity investments		100,150	44,151
Goodwill		25,222	0
Receivables and other assets		156,092	83,995
Total Assets		8,951,631	9,056,242
Liabilities:
Financing arrangements		773,142	577,413
Securitized debt		158,867	116,541
Derivative liabilities		498	1,500
Payable for securities purchased		148,015	227,969
Accrued expenses and other liabilities		65,969	59,527
Subordinated debentures		45,000	45,000
Total liabilities		8,100,469	8,175,716
Commitments and Contingencies
Stockholders' Equity:
Common stock, $0.01 par value, 400,000,000 shares authorized, 111,474,521 and 109,401,721 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively		1,115	1,094
Additional paid-in capital		748,599	734,610
Accumulated other comprehensive income (loss)		1,639	(2,854)
Accumulated deficit		(62,537)	(11,583)
Company's stockholders' equity		848,075	880,526
Non-controlling interest		3,087	0
Total equity		851,162	880,526
Total Liabilities and Stockholders' Equity		8,951,631	9,056,242
Financing arrangements, portfolio investments
Liabilities:
Financing arrangements		773,142	577,413
Residential mortgage loans held in securitization trusts
Liabilities:
Financing arrangements		192,419	212,155
Residential collateralized debt obligations
Liabilities:
Collateralized debt obligations		91,663	116,710
Multi-family collateralized debt obligations, at fair value
Liabilities:
Collateralized debt obligations		6,624,896	6,818,901
Residential mortgage loans held in securitization trusts (net)
ASSETS
Residential mortgage loans		95,144	119,921
Distressed residential mortgage loans, net (including $195,347 and $114,214 held in securitization trusts as of December 31, 2016 and December 31, 2015, respectively)
ASSETS
Residential mortgage loans		503,094	558,989
Series B Preferred Stock
Stockholders' Equity:
Preferred stock, $0.01 par value, 7.75% Series B cumulative redeemable, $25 liquidation preference per share, 6,000,000 shares authorized, 3,000,000 shares issued and outstanding		72,397	72,397
Series C Preferred Stock
Stockholders' Equity:
Preferred stock, $0.01 par value, 7.75% Series B cumulative redeemable, $25 liquidation preference per share, 6,000,000 shares authorized, 3,000,000 shares issued and outstanding		$ 86,862	$ 86,862

[1] Includes $43.9 million and $40.7 million of investment securities for sale held in securitization trusts as of December 31, 2016 and December 31, 2015, respectively.