Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental revenues	$ 30,102	$ 8,581	$ 55,720	$ 14,652
Change in unrealized gain on mortgage loans	(77,824)	(71,702)	(129,689)	(114,154)
Net realized gain on mortgage loans	10	8,180	7,271	20,912
Net realized gain on mortgage loans held for sale	40,217	15,950	68,506	50,147
Net realized gain on real estate	20,807	39,125	40,763	68,526
Interest income	98	104	177	216
Total revenues	13,410	238	42,748	40,299
Expenses:
Residential property operating expenses	19,337	18,003	37,596	36,204
Real estate depreciation and amortization	14,805	4,040	29,979	7,641
Acquisition fees and costs	209	1,523	376	3,104
Selling costs and impairment	9,114	11,842	23,334	38,433
Mortgage loan servicing costs	2,625	8,444	8,870	20,168
Interest expense	15,153	10,470	30,725	26,886
Share-based compensation	552	29	2,466	74
General and administrative	2,882	3,611	5,204	6,526
Management fees to AAMC	4,433	5,050	9,248	9,576
Total expenses	69,110	63,012	147,798	148,612
Other expense	0	(750)	0	(750)
Loss before income taxes	(55,700)	(63,524)	(105,050)	(109,063)
Income tax expense	7	4	14	123
Net loss	$ (55,707)	$ (63,528)	$ (105,064)	$ (109,186)
Loss per share of common stock - basic:
Loss per basic share (usd per share)	$ (1.04)	$ (1.16)	$ (1.96)	$ (1.99)
Weighted average common stock outstanding – basic (in shares)	53,474,680	54,616,221	53,560,012	54,998,171
Loss per share of common stock - diluted:
Loss per diluted share (usd per share)	$ (1.04)	$ (1.16)	$ (1.96)	$ (1.99)
Weighted average common stock outstanding – diluted (in shares)	53,474,680	54,616,221	53,560,012	54,998,171
Dividends declared per common share (usd per share)	$ 0.15	$ 0.15	$ 0.30	$ 0.45