Consolidated Statements of Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income
Interest income		$ 49,985	$ 29,642	$ 14,956
Interest expense		51,642	17,563	5,768
Net interest income (expense)		(1,657)	12,079	9,188
Servicing fee income		53,427	53,430	54,157
Servicing costs		11,248	11,837	13,624
Net servicing income		42,179	41,593	40,533
Other income (loss)
Realized gain (loss) on RMBS, net		(36,315)	(99,694)	548
Realized gain (loss) on derivatives, net		33,821	1,363	(9,339)
Realized gain on acquired assets, net		23	12	15
Unrealized gain on RMBS, measured at fair value through earnings, net		9,755	0	0
Unrealized gain (loss) on derivatives, net		(43,071)	61,864	(1,745)
Unrealized gain (loss) on investments in Servicing Related Assets		(25,937)	22,976	(11,062)
Total Income (Loss)		(21,202)	40,193	28,138
Expenses
General and administrative expense		6,900	6,305	6,983
Management fee to affiliate		6,830	6,629	7,844
Total Expenses		13,730	12,934	14,827
Income (Loss) Before Income Taxes		(34,932)	27,259	13,311
Provision for corporate business taxes	[1]	523	5,070	781
Net Income (Loss)		(35,455)	22,189	12,530
Net (income) loss allocated to noncontrolling interests in Operating Partnership		661	(450)	(247)
Dividends on preferred stock		9,853	9,853	9,853
Net Income (Loss) Applicable to Common Stockholders		$ (44,647)	$ 11,886	$ 2,430
Net Income (Loss) Per Share of Common Stock
Basic (in dollars per share)		$ (1.7)	$ 0.6	$ 0.14
Diluted (in dollars per share)		$ (1.7)	$ 0.6	$ 0.14
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)		26,262,407	19,768,286	17,324,362
Diluted (in shares)		26,293,903	19,795,639	17,345,562

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