Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
INTEREST INCOME:
Investment securities and other	$ 10,199	$ 8,591	$ 20,000	$ 17,025
Total interest income	93,981	79,766	172,366	161,392
INTEREST EXPENSE:
Investment securities and other	5,805	3,962	11,374	7,811
Total interest expense	78,273	63,102	142,740	127,086
NET INTEREST INCOME	15,708	16,664	29,626	34,306
OTHER INCOME (LOSS):
(Provision for) recovery of loan losses	(300)	42	(112)	688
Realized gain (loss) on investment securities and related hedges, net	1,114	1,761	(109)	3,027
Realized gain on distressed residential mortgage loans, net	2,364	26	14,335	5,574
Unrealized (loss) gain on investment securities and related hedges, net	(1,051)	(667)	495	(3,159)
Unrealized gain on multi-family loans and debt held in securitization trusts, net	1,447	784	2,831	1,602
Income from operating real estate and real estate held for sale in consolidated variable interest entities	2,316	0	2,316	0
Other income	2,282	8,125	5,121	11,198
Total other income	8,172	10,071	24,877	18,930
Base management and incentive fees	(109)	2,979	2,969	6,504
Expenses related to distressed residential mortgage loans	2,218	2,740	4,457	5,934
Expenses related to operating real estate and real estate held for sale in consolidated variable interest entities	4,415	0	4,415	0
Other general and administrative expenses	5,065	4,217	9,952	6,857
Total general, administrative and operating expenses	11,589	9,936	21,793	19,295
INCOME FROM OPERATIONS BEFORE INCOME TAXES	12,291	16,799	32,710	33,941
Income tax expense	442	2,366	1,680	2,557
NET INCOME	11,849	14,433	31,030	31,384
Net loss attributable to non-controlling interest in consolidated variable interest entities	2,487	2	2,487	2
NET INCOME ATTRIBUTABLE TO COMPANY	14,336	14,435	33,517	31,386
Preferred stock dividends	(3,225)	(3,225)	(6,450)	(6,450)
NET INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS	$ 11,111	$ 11,210	$ 27,067	$ 24,936
Basic earnings per common share (in dollars per share)	$ 0.10	$ 0.10	$ 0.24	$ 0.23
Diluted earnings per common share (in dollars per share)	$ 0.10	$ 0.10	$ 0.24	$ 0.23
Weighted average shares outstanding-basic (in shares)	111,863	109,489	111,792	109,445
Weighted average shares outstanding-diluted (in shares)	111,863	109,489	111,792	109,445
Convertible Notes
INTEREST EXPENSE:
Interest expense	$ 2,615	$ 0	$ 4,590	$ 0
Securitized debt
INTEREST EXPENSE:
Interest expense	2,171	3,096	4,286	5,227
Subordinated debt
INTEREST EXPENSE:
Subordinated debentures	570	508	1,110	1,009
Multi-family loans held in securitization trusts
INTEREST INCOME:
Interest income	75,752	61,769	137,056	125,301
Residential mortgage loans held in securitization trusts
INTEREST INCOME:
Interest income	1,365	921	2,607	1,757
Distressed residential mortgage loans
INTEREST INCOME:
Interest income	6,665	8,485	12,703	17,309
Multi-family collateralized debt obligations
INTEREST EXPENSE:
Interest expense	66,873	55,224	120,805	112,424
Residential collateralized debt obligations
INTEREST EXPENSE:
Interest expense	$ 239	$ 312	$ 575	$ 615