Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Rental revenues	$ 40,906	$ 30,102	$ 80,671	$ 55,720
Change in unrealized gain on mortgage loans	(10,700)	(77,824)	(26,208)	(129,689)
Net realized gain on mortgage loans	(541)	40,227	(1,011)	75,777
Net realized gain on sales of real estate	10,935	20,807	25,279	40,763
Interest income	0	98	0	177
Total revenues	40,906	13,410	80,671	42,748
Expenses:
Residential property operating expenses	17,197	19,337	33,989	37,596
Depreciation and amortization	18,761	14,805	37,951	29,979
Acquisition fees and costs	759	209	792	376
Impairment	2,143	9,114	9,718	23,334
Mortgage loan servicing costs	319	2,625	674	8,870
Interest expense	16,338	15,153	32,401	30,725
Share-based compensation	1,094	552	680	2,466
General and administrative	2,477	2,882	5,150	5,204
Management fees to AAMC	3,697	4,433	7,487	9,248
Total expenses	62,785	69,110	128,842	147,798
Operating loss	(21,879)	(55,700)	(48,171)	(105,050)
Net loss on real estate and mortgage loans	(306)	(16,790)	(1,940)	(13,149)
Casualty loss reversals, net	520	0	520	0
Insurance recoveries	115	0	115	0
Other income	214	0	790	0
Loss before income taxes	(21,336)	(55,700)	(48,686)	(105,050)
Income tax expense	0	7	0	14
Net loss	$ (21,336)	$ (55,707)	$ (48,686)	$ (105,064)
Loss per share of common stock - basic:
Loss per basic share (usd per share)	$ (0.40)	$ (1.04)	$ (0.91)	$ (1.96)
Weighted average common stock outstanding – basic (in shares)	53,520,486	53,474,680	53,487,459	53,560,012
Loss per share of common stock - diluted:
Loss per diluted share (usd per share)	$ (0.40)	$ (1.04)	$ (0.91)	$ (1.96)
Weighted average common stock outstanding – diluted (in shares)	53,520,486	53,474,680	53,487,459	53,560,012
Dividends declared per common share (usd per share)	$ 0.15	$ 0.15	$ 0.30	$ 0.30