Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2021		Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 2,808,643		$ 1,551,671
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of collateralized loan obligations discounts, net	207,767		273,188
Amortization of deferred offering costs	0		(13,333)
Amortization of deferred financing costs	253,254		256,069
Unrealized loss on mortgage servicing rights	20,455		877,749
Restricted stock compensation expense	2,885		7,882
Net change in:
Accrued interest receivable	(157,390)		(81,404)
Deferred offering costs	0		13,333
Other assets	75,880		(582,432)
Accrued interest payable	(39,806)		(241,020)
Fees and expenses payable to Manager	48,348		21,019
Other accounts payable and accrued expenses	(47,753)		289,276
Net cash provided by operating activities	3,172,283		2,371,998
Cash flows from investing activities:
Purchase of commercial mortgage loans held-for-investment	(34,888,000)		(38,613,756)
Principal payments from commercial mortgage loans held-for-investment	98,068,085		34,507,879
Investment related receivable	(34,539,187)		0
Net cash provided by (used in) investing activities	28,640,898		(4,105,877)
Cash flows from financing activities:
Proceeds from issuance of common stock	0		5,747,375
Dividends paid on common stock	(3,242,640)		(1,776,912)
Payment of collateralized loan obligations	(54,073,905)		0
Net cash (used in) provided by financing activities	(57,316,545)		3,970,463
Net (decrease) increase in cash, cash equivalents and restricted cash	(25,503,364)		2,236,584
Cash, cash equivalents and restricted cash, beginning of period	69,375,356		16,011,830
Cash, cash equivalents and restricted cash, end of period	43,871,992		18,248,414
Supplemental disclosure of cash flow information
Cash paid for interest	2,535,893		4,730,094
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	$ 2,248,612	[1]	$ 1,874,166

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of March 31, 2021 and December 31, 2020, assets of consolidated VIEs related to Hunt CRE 2017-F1, Ltd. and Hunt CRE 2018-FL2, Ltd. totaled $537,399,673 and $591,318,506, respectively and the liabilities of consolidated VIEs related to Hunt CRE 2017-FL1, Ltd. and Hunt CRE 2018-FL2, Ltd totaled $409,716,943 and $463,411,967 respectively. See Note 4 for further discussion.