Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest income:
Available-for-sale securities	$ 0	$ 3,669,376	$ 0	$ 10,748,966
Commercial mortgage loans held-for-investment	10,289,117	5,894,000	20,193,305	5,894,000
Multi-family loans held in securitization trusts	0	6,976,930	78,361	20,204,118
Residential loans held in securitization trusts	0	954,711	0	2,102,352
Cash and cash equivalents	0	55,936	0	116,978
Interest expense:
Repurchase agreements - available-for-sale securities	0	(2,685,705)	0	(7,637,242)
Collateralized loan obligations	(5,456,288)	(2,889,167)	(10,903,177)	(2,889,167)
Secured term loan	(786,114)	0	(1,115,227)	0
Multi-family securitized debt obligations	0	(6,640,257)	0	(19,166,552)
Residential securitized debt obligations	0	(765,914)	0	(1,685,971)
Net interest income	4,046,715	4,569,910	8,253,262	7,687,482
Other income:
Realized gain (loss) on investments, net	0	(30,497,281)	(709,439)	(33,345,288)
Realized gain (loss) on derivative contracts, net	0	23,192,076	0	25,984,870
Change in unrealized gain (loss) on derivative contracts, net	0	(18,132,701)	0	(5,349,613)
Change in unrealized gain (loss) on mortgage servicing rights	(459,119)	1,084,063	(839,117)	1,141,752
Change in unrealized gain (loss) on multi-family loans held in securitization trusts	0	(5,463,148)	694,339	(6,818,922)
Change in unrealized gain (loss) on residential loans held in securitization trusts	0	5,905,602	0	5,650,199
Servicing income, net	185,465	196,404	433,679	416,382
Other income	0	44,617	0	60,492
Total other income (loss)	(273,654)	(23,670,368)	(420,538)	(12,260,128)
Expenses:
Management fee	566,164	604,191	1,119,623	1,180,326
General and administrative expenses	895,659	962,284	2,362,344	2,352,345
Operating expenses reimbursable to manager	517,000	570,833	1,057,037	1,316,925
Other operating expenses	147,259	201,190	185,016	605,659
Compensation expense	50,064	51,107	100,087	147,162
Total expenses	2,176,146	2,389,605	4,824,107	5,602,417
Net income (loss) before provision for income taxes	1,596,915	(21,490,063)	3,008,617	(10,175,063)
(Provision for) income taxes	(202,745)	0	(139,680)	0
Net income (loss)	1,394,170	(21,490,063)	2,868,937	(10,175,063)
Dividends to preferred stockholders	(3,792)	(870,726)	(484,264)	(1,751,235)
Deemed dividend on preferred stock related to redemption	0	0	(3,093,028)	0
Net income (loss) attributable to common stockholders	1,390,378	(22,360,789)	(708,355)	(11,926,298)
Earnings (loss) per share:
Net income (loss) attributable to common stockholders	$ 1,390,378	$ (22,360,789)	$ (708,355)	$ (11,926,298)
Weighted average number of shares of common stock outstanding (in shares)	23,687,664	23,683,164	23,687,664	23,358,579
Basic and diluted income (loss) per share (in dollars per share)	$ 0.06	$ (0.94)	$ (0.03)	$ (0.51)
Dividends declared per share of common stock (in dollars per share)	$ 0.08	$ 0.06	$ 0.15	$ 0.16