Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ (5,822,037)	$ (4,183,767)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization/accretion of available-for-sale securities premiums and discounts, net	1,403,431	(1,653,155)
Amortization of collateralized loan obligations discounts, net	462,318	0
Amortization of deferred financing costs	98,429	0
Realized (gain) loss on sale of investments, net	33,358,905	14,616,997
Realized (gain) loss on derivative contracts, net	(25,984,870)	(2,049,400)
Realized (gain) loss on mortgage loans held-for-sale	0	221,620
Unrealized (gain) loss on fair value option securities	0	(9,448,270)
Unrealized (gain) loss on derivative contracts	5,349,613	8,583,100
Unrealized (gain) loss on mortgage loans held-for-sale	0	(17,727)
Unrealized (gain) loss on mortgage servicing rights	(1,245,264)	457,720
Unrealized (gain) loss on multi-family loans held in securitization trusts	5,861,373	(2,797,566)
Unrealized (gain) loss on residential loans held in securitization trusts	(5,650,199)	773,674
Restricted stock compensation expense	18,095	16,634
Net change in:
Accrued interest receivable	1,645,778	(1,400,041)
Deferred offering costs	57,149	18,057
Other assets	49,804	(137,688)
Accrued interest payable	(771,386)	13,743
Deferred income	174,685	(847)
Fees and expenses payable to Manager	2,249,338	(293,000)
Other accounts payable and accrued expenses	(176,907)	(1,784,111)
Net cash provided by operating activities	11,078,255	935,973
Cash flows from investing activities:
Purchase of available-for-sale securities	0	(1,000,558,281)
Purchase of commercial mortgage loans held-for-investment	(323,416,036)	0
Purchase of mortgage servicing rights	0	(10,910)
Proceeds from sales of available-for-sale securities	1,227,314,578	469,004,262
Proceeds from sales of residential mortgage loans held-for-sale	0	2,098,010
Net proceeds from (payments for) derivative contracts	25,984,870	2,049,188
Principal payments from available-for-sale securities	62,932,244	98,107,847
Principal payments from residential mortgage loans held-for-sale	0	52,146
Principal payments from commercial mortgage loans held-for-investment	124,493,511	0
Investment related receivable	(8,780,121)	(784,563)
Purchase of Hunt CMT Equity LLC (net of $9,829,774 in restricted cash)	(58,220,292)	0
Due from broker	(1,123,463)	(4,244,678)
Net cash provided by (used in) investing activities	1,049,185,291	(434,286,979)
Cash flows from financing activities:
Proceeds from issuance of common stock	7,245,817	19,827,811
Dividends paid on common stock	(3,735,676)	(8,582,666)
Dividends paid on preferred stock	(2,641,527)	(2,641,527)
Proceeds from repurchase agreements - available-for-sale securities	6,017,838,000	10,247,863,000
Proceeds from collateralized loan obligations	219,449,000	0
Payment of deferred financing costs	(4,075,446)	0
Principal repayments of repurchase agreements - available-for-sale securities	(7,252,360,000)	(9,815,013,000)
Net cash (used in) provided by financing activities	(1,018,279,832)	441,453,618
Net increase in cash, cash equivalents and restricted cash	41,983,714	8,102,612
Cash, cash equivalents and restricted cash, beginning of period	45,622,602	37,889,596
Cash, cash equivalents and restricted cash, end of period	87,606,316	45,992,208
Supplemental disclosure of cash flow information
Cash paid for interest	14,332,294	11,086,534
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	1,450,609	29,349
Net change in unrealized gain (loss) on available-for-sale securities	12,617,794	3,625,531
Consolidation of multi-family loans held in securitization trusts	24,908,204	1,154,277,919
Consolidation of residential loans held in securitization trusts	0	125,815,955
Consolidation of multi-family securitized debt obligations	19,566,273	1,133,138,620
Consolidation of residential securitized debt obligations	0	120,214,808
Commercial mortgage loans acquired, Hunt CMT Equity LLC acquisition	345,664,012	0
Restricted cash acquired, Hunt CMT Equity LLC acquisition	9,829,774	0
Other assets acquired, Hunt CMT Equity LLC acquisition	109,100	0
Collateralized loan obligations assumed, Hunt CMT Equity LLC acquisition	$ (287,552,820)	$ 0