Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021		Jun. 30, 2020
Income
Interest income	$ 7,085	$ 10,132	$ 13,070		$ 30,381
Interest expense	449	3,425	561		15,716
Net interest income	6,636	6,707	12,509		14,665
Servicing fee income	13,748	18,032	27,288		37,551
Servicing costs	4,072	6,594	7,154		12,434
Net servicing income	9,676	11,438	20,134		25,117
Other income (loss)
Realized gain (loss) on RMBS, available-for-sale, net	983	(1,769)	3,077		(19,312)
Realized loss on investments in MSRs, net	0	(11,347)	0		(11,347)
Realized gain (loss) on derivatives, net	(10,139)	4,558	(14,880)		(14,198)
Realized gain (loss) on acquired assets, net	29	(548)	34		(502)
Unrealized gain (loss) on derivatives, net	3,548	(4,581)	(4,511)		47,619
Unrealized gain (loss) on investments in Servicing Related Assets	(20,501)	(17,025)	1,963		(110,878)
Total Income (Loss)	(9,768)	(12,567)	18,326		(68,836)
Expenses
General and administrative expense	1,726	1,420	3,168		4,176
Management fee to affiliate	1,949	1,974	3,910		3,939
Total Expenses	3,675	3,394	7,078		8,115
Income (Loss) Before Income Taxes	(13,443)	(15,961)	11,248		(76,951)
Provision for (Benefit from) corporate business taxes	(1,830)	(3,278)	1,633	[1]	(15,432)	[1]
Net Income (Loss)	(11,613)	(12,683)	9,615		(61,519)
Net (income) loss allocated to noncontrolling interests in Operating Partnership	240	227	(194)		1,137
Dividends on preferred stock	2,465	2,461	4,928		4,920
Net Income (Loss) Applicable to Common Stockholders	$ (13,838)	$ (14,917)	$ 4,493		$ (65,302)
Net Income (Loss) Per Share of Common Stock
Basic (in dollars per share)	$ (0.81)	$ (0.88)	$ 0.26		$ (3.90)
Diluted (in dollars per share)	$ (0.81)	$ (0.88)	$ 0.26		$ (3.90)
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)	17,073,943	16,882,077	17,069,861		16,746,758
Diluted (in shares)	17,096,124	16,895,408	17,092,064		16,759,818

[1] The provision for income taxes is recorded at the TRS level.