CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 37,089	$ 31,337	$ 30,154
Adjustments to reconcile net income to net cash from operating activities
Stock-based management fee and compensation expense	3,604	3,989	3,247
Non-cash interest income accretion	(39,113)	(43,749)	(43,379)
Discount accretion on investment in securities	(13,081)	(783)	(195)
Gain on sale of mortgage loans	7,123	0	0
Gain on sale of property held-for-sale	(629)	(380)	(506)
Gain on sale of securities	(8)	(347)	0
Loss from payoffs of loans in transit	0	0	26
Depreciation of property	499	155	80
Impairment of real estate owned	2,104	2,700	2,516
Provision for loan losses	803	1,164	0
Amortization of debt discount and prepaid financing costs	5,716	6,378	6,466
Undistributed income from investment in affiliates	(1,332)	(762)	(707)
Net change in operating assets and liabilities
Prepaid expenses and other assets	(2,555)	(2,747)	(2,543)
Receivable from Servicer	(2,231)	2,071	(5,087)
Accrued expenses, management fee payable, and other liabilities	830	1,171	1,233
Net cash from operating activities	(15,427)	197	(8,695)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of mortgage loans and related balances	(110,146)	(165,021)	(459,194)
Origination of commercial loans	(19,040)	(6,290)	(9,083)
Principal paydowns on mortgage loans	134,696	142,107	107,274
Proceeds from sale of mortgage loans	212,648	0	0
Draws on small balance commercial loans	912	267	0
Purchase of securities	(187,825)	(176,363)	0
Principal paydowns on securities	42,386	6,496	0
Proceeds on sale of securities	39,635	8,073	0
Purchase of rental property	(27,524)	(15,385)	0
Proceeds from sale of property held-for-sale	17,436	17,632	17,143
Renovations and recovery costs of rental property and property held-for-sale	171
Renovations and recovery costs of rental property and property held-for-sale		(456)	0
Investment in Great Ajax FS LLC, including warrants	0	1,750	0
Investment in equity method investee	(2,502)	0	(5,115)
Distribution from affiliates	1,144	827	3,055
Net cash from investing activities	100,167	(190,397)	(345,920)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase transactions	322,561	311,128	590,669
Repayments on repurchase transactions	(444,372)	(53,424)	(542,221)
Proceeds from sale of secured borrowings	284,343	167,910	431,126
Repayments on secured borrowings	(241,134)	(254,177)	(178,115)
Proceeds from sale of convertible senior notes	0	15,184	105,325
Deferred financing costs	(4,559)	(2,635)	(7,225)
Sale of common stock, net of offering costs	34,301	0	3,864
Sale of common stock pursuant to dividend reinvestment plan	280	199	174
Distribution to non-controlling interest	(789)	(3,343)	(766)
Issuance of non-controlling interest in subsidiaries	144	6,709	16,190
Dividends paid on common stock	(26,322)	(22,943)	(20,602)
Net cash from financing activities	(75,547)	164,608	398,419
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN TRUST	9,193	(25,592)	43,804
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, beginning of period	55,170	80,762	36,958
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, end of period	64,363	55,170	80,762
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	53,324	50,753	35,214
Cash paid for income taxes	0	0	0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Transfer of loans to rental property or property held-for-sale	12,104	15,072	20,294
Issuance of common stock for management fee and compensation expense	3,604	3,989	3,247
Issuance of shares for investment in Great Ajax FS LLC	0	1,011	0
Non-cash adjustments to basis in mortgage loans	(20)	347	516
Unrealized (gain)/loss on available for sale securities, net of non-controlling interest and tax	(1,852)	342	233
Treasury stock received through distributions from investment in Manager	188	270	0
Convertible senior notes conversion premium recognized in equity	0	494	2,687
Conversion of Operating Partnership Units	10,816	0	0
Non-cash equity investment in Gaea resulting from deconsolidation	18,494	0	0
Non-cash transfer of rental property to Gaea	41,997	0	0
Non-cash transfer of loans to Gaea	2,215	0	0
Property sold to borrowers under the installment method	0	0	56
Transfer of accrued interest to borrowings under repurchase agreement	0	0	497
Cumulative effect of change in accounting principle	0	110	0
Total cash and cash equivalents and restricted cash shown on the consolidated Statements of Cash Flows	$ 64,363	$ 80,762	$ 36,958