Condensed Consolidated Balance Sheets - USD ($)		Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 9,912,051	$ 34,347,339
Restricted cash		77,694,265	11,275,263
Available-for-sale securities, at fair value (includes pledged securities of $0 for September 30, 2018 and $1,295,225,428 for December 31, 2017, respectively)		0	1,290,825,648
Commercial mortgage loans held-for-investment, at amortized cost		544,586,537	0
Multi-family loans held in securitization trusts, at fair value	[1]	24,787,988	1,130,874,274
Residential loans held in securitization trusts, at fair value	[1]	0	119,756,455
Mortgage servicing rights, at fair value		4,209,124	2,963,861
Deferred offering costs		122,233	179,382
Accrued interest receivable		2,542,868	8,852,036
Investment related receivable		16,242,900	7,461,128
Derivative assets, at fair value		0	5,349,613
Other assets		713,762	656,117
Total Assets		680,811,728	2,612,541,116
Repurchase agreements:
Available-for-sale securities		0	1,234,522,000
Collateralized loan obligation (net of discount of $2,716,862 and deferred financing costs of $3,977,017 for September 30, 2018)		503,487,121
Multi-family securitized debt obligations	[1]	19,462,838	1,109,204,743
Residential securitized debt obligations	[1]	0	114,418,318
Accrued interest payable		854,060	6,194,464
Dividends payable		1,450,609	39,132
Deferred income		397,203	222,518
Due to broker		0	1,123,463
Fees and expenses payable to Manager		3,001,338	752,000
Other accounts payable and accrued expenses		96,293	273,201
Total Liabilities		528,749,462	2,466,749,839
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, 8.75% Series A cumulative redeemable, $25 liquidation preference, 1,610,000 and 1,610,000 issued and outstanding at September 30, 2018 and December 31, 2017, respectively		37,156,972	37,156,972
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 23,687,664 and 22,143,758 shares issued and outstanding, at September 30, 2018 and December 31, 2017, respectively		236,787	221,393
Additional paid-in capital		231,296,687	224,048,169
Accumulated other comprehensive income (loss)		0	(12,617,794)
Cumulative distributions to stockholders		(112,438,915)	(104,650,235)
Accumulated earnings (deficit)		(4,189,265)	1,632,772
Total stockholders' equity		152,062,266	145,791,277
Total liabilities and stockholders' equity		680,811,728	2,612,541,116
Variable Interest Entities, Assets		24,898,204	1,255,404,335
Variable Interest Entities, Liabilities		$ 19,566,273	$ 1,228,295,517

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of September 30, 2018 and December 31, 2017, assets of consolidated VIEs totaled $24,898,204 and $1,255,404,335 respectively, and the liabilities of consolidated VIEs totaled $19,566,273 and $1,228,295,517 respectively