Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Rental revenues	$ 123,597	$ 48,563	$ 13,233
Change in unrealized gain on mortgage loans	(190,856)	(195,909)	88,829
Net realized gain on mortgage loans	84,024	85,990	94,493
Net realized gain on sales of real estate	76,913	117,617	50,932
Interest income	493	497	611
Total revenues	94,171	56,758	248,098
Expenses:
Residential property operating expenses	71,741	70,167	66,266
Real estate depreciation and amortization	61,601	27,027	7,472
Acquisition fees and costs	778	9,339	2,292
Selling costs and impairment	40,108	57,913	72,230
Mortgage loan servicing costs	10,683	34,595	62,346
Interest expense	59,582	53,868	53,694
Share-based compensation	4,139	1,287	184
General and administrative	10,994	10,556	10,105
Management fees to AAMC	17,301	19,175	22,966
Total expenses	276,927	283,927	297,555
Operating loss	(182,756)	(227,169)	(49,457)
Losses resulting from natural disasters	(6,021)	0	0
Insurance recoveries related to natural disasters	3,349	0	0
Other (expense) income	0	(750)	3,518
Loss before income taxes	(185,428)	(227,919)	(45,939)
Income tax expense	26	109	66
Net income (loss)	$ (185,454)	$ (228,028)	$ (46,005)
Loss per share of common stock – basic:
Earnings per basic share (usd per share)	$ (3.47)	$ (4.18)	$ (0.81)
Weighted average common stock outstanding – basic (in shares)	53,493,523	54,490,979	56,843,028
Loss per share of common stock – diluted:
Earnings per diluted share (usd per share)	$ (3.47)	$ (4.18)	$ (0.81)
Weighted average common stock outstanding – diluted (in shares)	53,493,523	54,490,979	56,843,028
Dividends declared per common share (usd per share)	$ 0.6	$ 0.75	$ 1.83