Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ 5,026,685	$ (5,822,037)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization/accretion of available-for-sale securities premiums and discounts, net	0	1,403,431
Accretion of collateralized loan obligations discounts, net	819,562	462,318
Amortization of deferred offering costs	(67,150)	0
Amortization of deferred financing costs	755,735	98,429
Realized (gain) loss on investments, net	709,439	33,358,905
Realized (gain) loss on derivative contracts, net	0	(25,984,870)
Unrealized (gain) loss on derivative contracts	0	5,349,613
Unrealized (gain) loss on mortgage servicing rights	1,283,977	(1,245,264)
Unrealized (gain) loss on multi-family loans held in securitization trusts	(694,339)	5,861,373
Unrealized (gain) loss on residential loans held in securitization trusts	0	(5,650,199)
Restricted stock compensation expense	(7,378)	18,095
Net change in:
Accrued interest receivable	189,977	1,645,778
Deferred offering costs	67,149	57,149
Other assets	(467,172)	49,804
Accrued interest payable	(52,401)	(771,386)
Deferred income	0	174,685
Fees and expenses payable to Manager	(439,439)	2,249,338
Other accounts payable and accrued expenses	(1,981,590)	(176,907)
Net cash provided by operating activities	5,143,055	11,078,255
Cash flows from investing activities:
Purchase of commercial mortgage loans held-for-investment	(179,075,497)	(323,416,036)
Proceeds from sales of available-for-sale securities	0	1,227,314,578
Net proceeds from derivative contracts	0	25,984,870
Principal payments from available-for-sale securities	0	62,932,244
Principal payments from retained beneficial interests	4,747,049	0
Principal payments from commercial mortgage loans held-for-investment	174,726,836	124,493,511
Investment related receivable	33,042,234	(8,780,121)
Purchase of Hunt CMT Equity LLC (net of $9,829,774 in restricted cash)	0	(58,220,292)
Due from broker	0	(1,123,463)
Net cash provided by investing activities	33,440,622	1,049,185,291
Cash flows from financing activities:
Proceeds from issuance of common stock	15,300	7,245,817
Redemption of preferred stock	(40,250,000)	0
Dividends paid on common stock	(4,855,971)	(3,735,676)
Dividends paid on preferred stock	(528,614)	(2,641,527)
Proceeds from repurchase agreements - available-for-sale securities	0	6,017,838,000
Proceeds from collateralized loan obligations	0	219,449,000
Proceeds from secured term loan	40,250,000	0
Payment of deferred financing costs	(1,090,372)	(4,075,446)
Principal repayments of repurchase agreements - available-for-sale securities	0	(7,252,360,000)
Net cash (used in) financing activities	(6,459,657)	(1,018,279,832)
Net increase in cash, cash equivalents and restricted cash	32,124,020	41,983,714
Cash, cash equivalents and restricted cash, beginning of period	59,213,812	45,622,602
Cash, cash equivalents and restricted cash, end of period	91,337,832	87,606,316
Supplemental disclosure of cash flow information
Cash paid for interest	16,531,631	14,332,294
Cash paid for income taxes	1,956,337	0
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	1,780,367	1,450,609
Net change in unrealized gain (loss) on available-for-sale securities	0	12,617,794
Consolidation of multi-family loans held in securitization trusts	0	24,908,204
Consolidation of multi-family securitized debt obligations	0	19,566,273
Commercial mortgage loans acquired, Hunt CMT Equity LLC acquisition	0	345,664,012
Restricted cash acquired, Hunt CMT Equity LLC acquisition	0	9,829,774
Other assets acquired, Hunt CMT Equity LLC acquisition	0	109,100
Collateralized loan obligations assumed, Hunt CMT Equity LLC acquisition	$ 0	$ (287,552,820)