Consolidated Balance Sheets - USD ($)		Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 7,882,862	$ 34,347,339
Restricted cash		51,330,950	11,275,263
Available-for-sale securities, at fair value (includes pledged securities of $1,295,225,428 for December 31, 2017)		0	1,290,825,648
Commercial mortgage loans held-for-investment		555,172,891	0
Cash held in securitization trusts	[1]	24,357,335
Multi-family loans held in securitization trusts, at fair value	[1]	0	1,130,874,274
Residential loans held in securitization trusts, at fair value	[1]	0	119,756,455
Mortgage servicing rights, at fair value		3,997,786	2,963,861
Deferred offering costs		126,516	179,382
Accrued interest receivable		2,430,790	8,852,036
Investment related receivable		33,042,234	7,461,128
Derivative assets, at fair value		0	5,349,613
Other assets		1,010,671	656,117
Total assets		679,352,035	2,612,541,116
Repurchase agreements:
Available-for-sale securities		0	1,234,522,000
Collateralized loan obligations		503,978,918	0
Multi-family securitized debt obligations	[1]	19,231,331	1,109,204,743
Residential securitized debt obligations	[1]	0	114,418,318
Accrued interest payable		1,231,649	6,194,464
Dividends payable		1,465,610	39,132
Deferred income		0	222,518
Due to broker		0	1,123,463
Fees and expenses payable to Manager		1,175,000	752,000
Other accounts payable and accrued expenses		2,066,189	273,201
Total liabilities		529,148,697	2,466,749,839
Commitments and contingencies
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 December 31, 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 December 31, 2018 and December 31, 2017, respectively		236,832	221,393
Additional paid-in capital		231,305,743	224,048,169
Accumulated other comprehensive income (loss)		0	(12,617,794)
Cumulative distributions to stockholders		(114,757,019)	(104,650,235)
Accumulated earnings (deficit)		(3,838,690)	1,632,772
Total stockholders' equity		150,103,838	145,791,277
Noncontrolling interests		99,500	0
Total equity		150,203,338	145,791,277
Total liabilities and equity		679,352,035	2,612,541,116
Assets of consolidated VIEs		24,357,335	1,255,404,335
Liabilities of consolidated VIEs		$ 19,595,186	$ 1,228,295,517

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIE's) as the Company is the primary beneficiary of these VIEs. As of December 31, 2018 and December 31, 2017, assets of consolidated VIEs totaled $24,357,335 and $1,255,404,335, respectively, and the liabilities of consolidated VIEs totaled $19,595,186 and $1,228,295,517, respectively