Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ (5,471,462)	$ 4,706,961
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	(1,475,701)
Amortization of collateralized loan obligations discounts, net	738,507	0
Amortization of deferred financing costs	314,037	0
Realized loss on sale of investments, net	33,391,712	14,054,164
Realized (gain) on derivative contracts, net	(25,984,870)	(2,219,719)
Realized loss on residential mortgage loans held-for-sale	0	221,620
Unrealized (gain) on fair value option securities	0	(9,448,270)
Unrealized loss on derivative contracts	5,349,613	2,704,413
Unrealized (gain) on residential mortgage loans held-for-sale	0	(17,727)
Unrealized (gain) loss on mortgage servicing rights	(1,033,926)	487,856
Unrealized (gain) loss on multi-family loans held in securitization trusts	6,398,348	(3,353,365)
Unrealized (gain) loss on residential loans held in securitization trusts	(5,650,199)	961,100
Restricted stock compensation expense	3,427	(6,280)
Net change in:
Accrued interest receivable	1,647,640	(1,547,501)
Deferred offering costs	52,866	(82,893)
Other assets	(245,454)	118,914
Accrued interest payable	(654,217)	1,028,149
Deferred income	(222,518)	18,775
Fees and expenses payable to Manager	423,000	(128,000)
Other accounts payable and accrued expenses	1,792,988	(1,784,642)
Net cash provided by operating activities	12,252,923	4,237,854
Cash flows from investing activities:
Purchase of available-for-sale securities	0	(1,060,558,013)
Purchase of commercial mortgage loans held-for-investment	(410,901,286)	0
Purchase of mortgage servicing rights	0	(10,910)
Proceeds from sales of available-for-sale securities	1,227,314,578	495,030,356
Proceeds from sales of residential mortgage loans held-for-sale	0	2,098,010
Net proceeds from (payments for) derivative contracts	25,984,870	2,219,506
Principal payments from available-for-sale securities	62,932,244	136,715,868
Principal payments from residential mortgage loans held-for-sale	0	547,635
Principal payments from commercial mortgage loans held-for-investment	201,392,408	0
Investment related receivable	(25,581,106)	(3,546,670)
Purchase of Hunt CMT Equity LLC (net of $9,829,774 in restricted cash)	(58,220,292)	0
Due to broker	(1,123,463)	(3,121,215)
Net cash (used in) provided by investing activities	1,021,797,953	(430,625,433)
Cash flows from financing activities:
Proceeds from issuance of common stock	7,269,586	19,835,626
Capital contributed by noncontrolling interests	99,500	0
Dividends paid on common stock	(5,156,936)	(11,904,005)
Dividends paid on preferred stock	(3,523,370)	(3,522,036)
Proceeds from repurchase agreements - available-for-sale securities	6,017,838,000	14,224,216,000
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)	(13,794,505,000)
Net cash (used in) provided by financing activities	(1,020,459,666)	434,120,585
Net increase (decrease) in cash, cash equivalents and restricted cash	13,591,210	7,733,006
Cash, cash equivalents and restricted cash, beginning of period	45,622,602	37,889,596
Cash, cash equivalents and restricted cash, end of period	59,213,812	45,622,602
Supplemental disclosure of cash flow information
Cash paid for interest	19,163,004	14,477,370
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	1,465,610	39,132
Net change in unrealized gain (loss) on available-for-sale securities	12,617,794	(5,785,854)
Consolidation of receivables held in securitization trusts	24,357,335
Consolidation of multi-family loans held in securitization trusts	0	1,135,251,880
Consolidation of residential loans held in securitization trusts	0	120,152,455
Consolidation of multi-family securitized debt obligations	19,595,186	1,113,556,782
Consolidation of residential securitized debt obligations	0	114,738,735
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