Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income:
Available-for-sale securities	$ 0	$ 0	$ 0	$ 10,748,966
Commercial mortgage loans held-for-investment	9,825,455	9,365,400	30,018,760	15,259,400
Multi-family loans held in securitization trusts	0	336,824	78,361	20,540,942
Residential loans held in securitization trusts	0	0	0	2,102,352
Cash and cash equivalents	6,551	17,024	6,551	134,002
Interest expense:
Repurchase agreements - available-for-sale securities	0	0	0	(7,637,242)
Collateralized loan obligations	(5,244,001)	(4,366,632)	(16,147,178)	(7,255,799)
Secured term loan	(792,121)	0	(1,907,348)	0
Multi-family securitized debt obligations	0	(237,980)	0	(19,404,532)
Residential securitized debt obligations	0	0	0	(1,685,971)
Net interest income	3,795,884	5,114,636	12,049,146	12,802,118
Other income:
Realized gain (loss) on investments, net	0	(13,617)	(709,439)	(33,358,905)
Realized gain (loss) on derivative contracts, net	0	0	0	25,984,870
Change in unrealized gain (loss) on derivative contracts, net	0	0	0	(5,349,613)
Change in unrealized gain (loss) on mortgage servicing rights	(444,860)	103,512	(1,283,977)	1,245,264
Change in unrealized gain (loss) on multi-family loans held in securitization trusts	0	957,549	694,339	(5,861,373)
Change in unrealized gain (loss) on residential loans held in securitization trusts	0	0	0	5,650,199
Servicing income, net	243,265	285,745	676,944	702,127
Other income	0	27,942	0	88,434
Total other income (loss)	(201,595)	1,361,131	(622,133)	(10,898,997)
Expenses:
Management fee	557,833	586,926	1,677,456	1,767,252
General and administrative expenses	904,413	796,600	3,266,757	3,148,945
Operating expenses reimbursable to manager	175,174	548,132	1,232,211	1,865,057
Other operating expenses	19,212	136,400	204,228	742,059
Compensation expense	46,585	54,683	146,672	201,845
Total expenses	1,703,217	2,122,741	6,527,324	7,725,158
Net income (loss) before provision for income taxes	1,891,072	4,353,026	4,899,689	(5,822,037)
(Provision for) income taxes	266,676	0	126,996	0
Net income (loss)	2,157,748	4,353,026	5,026,685	(5,822,037)
Dividends to preferred stockholders	(3,792)	(880,509)	(488,056)	(2,631,744)
Deemed dividend on preferred stock related to redemption	0	0	(3,093,028)	0
Net income (loss) attributable to common stockholders	2,153,956	3,472,517	1,445,601	(8,453,781)
Earnings (loss) per share:
Net income (loss) attributable to common stockholders (basic and diluted)	$ 2,153,956	$ 3,472,517	$ 1,445,601	$ (8,453,781)
Weighted average number of shares of common stock outstanding (in shares)	23,687,664	23,687,273	23,687,664	23,588,688
Basic and diluted income (loss) per share (in dollars per share)	$ 0.09	$ 0.15	$ 0.06	$ (0.36)
Dividends declared per share of common stock (in dollars per share)	$ 0.08	$ 0.06	$ 0.22	$ 0.22