CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest income	$ 145,962	$ 87,127	$ 68,811
Interest expense	41,671	15,604	7,271
Net interest income	104,291	71,523	61,540
Realized gains (losses) on mortgage-backed securities	(7,788)	3,071	(1,411)
Unrealized gains (losses) on mortgage-backed securities	(67,981)	(54,149)	(28,274)
(Losses) gains on derivative instruments	(15,349)	(9,387)	(22,890)
FHLB stock dividends	0	14	0
Net portfolio income	13,173	11,072	8,965
Expenses
Management Fee Expense	5,855	4,188	3,978
Allocated Overhead	1,576	1,300	1,064
Compensation and related benefits	640	806	646
Directors fees and liability insurance	949	1,007	983
Audit, legal and other professional fees	706	871	706
Direct REIT operating expenses	1,124	652	241
Other administrative	316	269	276
Total expenses	11,166	9,093	7,894
Net income (loss)	$ 2,007	$ 1,979	$ 1,071
Basic and diluted net income (loss) per share
Basic	$ 0.05	$ 0.08	$ 0.05
Diluted	$ 0.05	$ 0.08	$ 0.05
Weighted Average Shares Outstanding
Weighted Average Shares - Basic and Diluted	41,062,039	24,099,714	20,266,706