Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest income:
Available-for-sale securities	$ 7,079,590	$ 6,822,622
Mortgage loans held-for-sale	0	28,763
Multi-family loans held in securitization trusts	13,227,188	13,948,754
Residential loans held in securitization trusts	1,147,641	1,355,438
Cash and cash equivalents	61,042	35,734
Interest expense:
Repurchase agreements - available-for-sale securities	(4,951,537)	(2,095,474)
Multi-family securitized debt obligations	(12,526,295)	(13,237,724)
Residential securitized debt obligations	(920,057)	(1,074,352)
Net interest income	3,117,572	5,783,761
Other income:
Realized gain (loss) on sale of investments, net	(2,848,007)	(9,317,003)
Change in unrealized gain (loss) on fair value option securities	0	9,448,270
Realized gain (loss) on derivative contracts, net	2,792,794	2,233,051
Change in unrealized gain (loss) on derivative contracts, net	12,783,088	(3,077,088)
Realized gain (loss) on mortgage loans held-for-sale	0	(174)
Change in unrealized gain (loss) on mortgage loans held-for-sale	0	(3,709)
Change in unrealized gain (loss) on mortgage servicing rights	57,689	(126,446)
Change in unrealized gain (loss) on multi-family loans held in securitization trusts	(1,355,774)	1,299,630
Change in unrealized gain (loss) on residential loans held in securitization trusts	(255,403)	(368,343)
Other interest expense	0	(152,322)
Servicing income	219,978	252,738
Other income	15,875	12,171
Total other income (loss)	11,410,240	200,775
Expenses:
Management fee	576,135	544,510
General and administrative expenses	1,390,061	1,588,572
Operating expenses reimbursable to Manager	746,092	1,208,943
Other operating expenses	404,469	220,496
Compensation expense	96,055	52,874
Total expenses	3,212,812	3,615,395
Net income	11,315,000	2,369,141
Dividends to preferred stockholders	(880,509)	(880,509)
Net income attributable to common stockholders (basic and diluted)	10,434,491	1,488,632
Earnings per share:
Net income attributable to common stockholders (basic and diluted)	$ 10,434,491	$ 1,488,632
Weighted average number of shares of common stock outstanding (in shares)	23,392,387	17,539,258
Basic and diluted income (loss) per share (in dollars per share)	$ 0.45	$ 0.08
Dividends declared per share of common stock (in dollars per share)	$ 0.10	$ 0.15