CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 1,496	$ 8,121
Adjustments to reconcile net income to net cash from operating activities
Stock-based management fee and compensation expense	214	1,029
Non-cash interest income accretion	(9,450)	(10,891)
Discount accretion on investment in debt securities and beneficial interests	(2,794)	(1,155)
Loss on sale of mortgage loans	705	0
Loss on debt extinguishment	408	0
Gain on sale of property held-for-sale	(286)	(103)
Gain on sale of securities	0	(8)
Depreciation of property	8	106
Impairment of real estate owned	897	475
Provision for credit losses on mortgage loans	2,122	154
Provision for credit losses on beneficial interests	2,987	0
Amortization of debt discount and prepaid financing costs	1,316	1,281
Undistributed loss/(income) from investment in affiliates	1,112	(461)
Net change in operating assets and liabilities
Prepaid expenses and other assets	(28,878)	(798)
Receivable from servicer	(278)	(4,160)
Accrued expenses, management fee payable, and other liabilities	(12)	(1,366)
Net cash from operating activities	(30,409)	(5,044)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of mortgage loan pools and related balances	(185)	(7,205)
Acquisition of commercial loans	(1,206)	(17,793)
Principal paydowns on mortgage loans	34,597	28,765
Principal paydowns on debt securities held as investments	10,233	11,941
Proceeds from sale of mortgage loans	25,412	0
Purchase of securities	(61,306)	(64,014)
Proceeds from sale of securities	0	39,635
Purchase of rental property	0	(2,300)
Proceeds from sale of property held-for-sale	3,017	5,131
Renovations of rental property	0	(77)
Distribution from affiliates	453	170
Net cash from investing activities	11,015	(5,593)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase transactions	72,417	67,463
Repayments on repurchase transactions	(55,440)	(45,483)
Repayments on secured borrowings	(22,599)	(17,837)
Deferred financing costs	(34)	0
Repurchase of senior convertible notes	(8,176)	0
Sale of common stock pursuant to dividend reinvestment plan	0	72
Distribution to non-controlling interests	(84)	(162)
Issuance of stock from subsidiary	145	0
Dividends paid on common stock	0	(7,021)
Net cash from financing activities	(13,771)	(2,968)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN TRUST	(33,165)	(13,605)
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, beginning of period	64,363	55,170
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, end of period	31,198	41,565
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	11,249	15,469
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Unrealized gain on available for sale securities, net of non-controlling interest and tax	28,444	397
Issuance of common stock for dividends paid	7,097	0
Net transfer of loans to rental property or property held-for-sale	814	4,171
Issuance of common stock for management fee and compensation expense	214	1,029
Treasury stock received through distributions from investment in Manager	56	40
Non-cash adjustments to basis in mortgage loans	31	5
Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows	$ 31,198	$ 41,565