CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
INCOME
Interest income		$ 23,212	$ 24,035
Interest expense		(8,606)	(10,304)
Net interest income		14,606	13,731
Net decrease in the net present value of expected cash flows	[1]	3,978	5,516
Net interest income after the impact of changes in the net present value of expected credit losses		18,584	19,247
(Loss)/income from investments in affiliates		(63)	163
Other (loss)/income		(3,550)	356
Total revenue, net		14,971	19,766
EXPENSE
Related party expense – loan servicing fees		2,091	1,833
Related party expense – management fee		2,293	2,273
Professional fees		345	640
Real estate operating expenses		185	185
Fair value adjustment on put option liability		3,200	1,944
Other expense		1,254	1,304
Total expense		9,368	8,179
Loss on debt extinguishment		0	911
Income before provision for income taxes		5,603	10,676
Provision for income taxes (benefit)		(28)	34
Consolidated net income		5,631	10,642
Less: consolidated net income/(loss) attributable to the non-controlling interest		96	1,689
Consolidated net income attributable to Company		5,535	8,953
Less: dividends on preferred stock		1,949	1,949
Consolidated net income attributable to common stockholders		$ 3,586	$ 7,004
Basic earnings per common share (in dollars per share)		$ 0.15	$ 0.30
Diluted earnings per common share (in dollars per share)		$ 0.15	$ 0.30
Weighted average shares - basic (in shares)		22,922,316	22,816,978
Weighted average shares - diluted (in shares)		22,922,316	22,816,978

[1] Net decrease in the net present value of expected credit losses represents the net decrease to the allowance resulting from changes in actual and expected cash flows during both the three months ended March 31, 2022 and March 31, 2021. It represents the net increase of the present value of the expected cash flows in excess of contractual cash flows offset by any incremental provision expense on the Mortgage loan pools and Beneficial interests. The decrease is calculated at the pool level for Mortgage loans and at the security level for Beneficial interests. To the extent a pool or Beneficial interest has an associated allowance, the decrease in expected credit losses is recorded in the period in which the change occurs, otherwise it is recognized prospectively as an increase in yield.