Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Investment securities available for sale, at fair value (including pledged securities of $129,942 and $38,475, respectively)	$ 200,342	$ 86,040
Mortgage loans held in securitization trusts (net)	206,920	228,185
Mortgage loans held for investment	5,118	7,460
Investment in limited partnership	8,703	18,665
Cash and cash equivalents	16,586	19,375
Receivable for securities sold	1,133	5,653
Derivative assets	208,218
Receivables and other assets	35,685	8,916
Total Assets	682,705	374,294
LIABILITIES AND EQUITY
Financing arrangements, portfolio investments	112,674	35,632
Collateralized debt obligations	199,762	219,993
Derivative liabilities	2,619	1,087
Payable for securities purchased	228,300
Accrued expenses and other liabilities	8,043	4,095
Subordinated debentures	45,000	45,000
Total liabilities	596,398	305,807
Commitments and Contingencies
Common stock, $0.01 par value, 400,000,000 authorized, 13,938,273 and 9,425,442, shares issued and outstanding, respectively	139	94
Additional paid-in capital	153,710	135,300
Accumulated other comprehensive income	11,292	17,732
Accumulated deficit	(79,863)	(84,639)
Total stockholders' equity	85,278	68,487
Noncontrolling interest	1,029
Total equity	86,307	68,487
Total Liabilities and Equity	$ 682,705	$ 374,294