CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 5,631	$ 10,642
Adjustments to reconcile net income to net cash from operating activities
Stock-based management fee and compensation expense	761	294
Non-cash interest income accretion on mortgage loans	(4,251)	(5,878)
Interest and discount accretion on investment in debt securities	(2,763)	(2,476)
Discount accretion on investment in beneficial interests	(4,153)	(3,600)
Loss on debt extinguishment	0	911
Loss/(gain) on sale of real estate owned properties	16	(105)
Depreciation of property	0	3
Impairment of real estate owned	169	171
Decrease in net present value of expected credit losses on loans	(3,624)	(5,500)
Credit loss expense on mortgage loans	111	454
Decrease in net present value of expected credit losses on beneficial interests	(354)	(15)
Impairment on beneficial interests	3,973	0
Credit loss expense on beneficial interests	50	139
Amortization of debt discount and prepaid financing costs	1,041	1,613
Undistributed loss/(income) from investment in affiliates	63	(163)
Fair value adjustment on put option liability	3,200	1,944
Other non-cash charges	0	6
Net change in operating assets and liabilities
Prepaid expenses and other assets	(7,917)	(4,468)
Receivable from Servicer	1,764	(3,092)
Accrued expenses, management fee payable, and other liabilities	(2,878)	(254)
Net cash from operating activities	(9,161)	(9,374)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of mortgage loans and related balances	(903)	(35,637)
Principal paydowns on mortgage loans	54,350	43,578
Draws on small balance commercial loans	0	(85)
Proceeds from paydowns on securities	21,194	12,935
Proceeds from sale of property held-for-sale	121	1,587
Investment in equity method investments	(6,090)	0
Distribution from affiliates	352	485
Net cash from investing activities	69,024	22,863
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase transactions	6,006	89,652
Repayments on repurchase transactions	(29,486)	(205,691)
Proceeds from origination of secured borrowings	0	391,028
Repayments on secured borrowings	(39,422)	(225,232)
Payment of prepaid financing costs	0	(7,301)
Purchase of bonds of non-controlling interest in subsidiaries	0	(5,887)
Repurchase of the Company's senior convertible notes	0	(2,430)
Sale of common stock pursuant to dividend reinvestment plan	115	47
Acquisition of non-controlling interest in subsidiary	0	(11,362)
Distribution to non-controlling interests	(909)	(84)
Dividends paid on common stock and preferred stock	(7,966)	(5,799)
Net cash from financing activities	(71,662)	16,941
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN TRUST	(11,799)	30,430
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, beginning of period	87,526	107,335
CASH, CASH EQUIVALENTS AND CASH HELD IN TRUST, end of period	75,727	137,765
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	7,819	8,441
Cash paid for income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Net transfer of loans to rental property or property held-for-sale	828	228
Issuance of common stock for management fee and compensation expense	761	294
Non-cash adjustments to basis in mortgage loans	18	1,324
Treasury stock received through distributions from investment in Manager	(117)	0
Unrealized (loss)/gain on available for sale securities, net of non-controlling interest and tax	(9,778)	1,306
Net transfer of loans (to)/from mortgage held-for-investment, net (from)/to mortgage loans held-for-sale, net	(29,572)
Net transfer of loans (to)/from mortgage held-for-investment, net (from)/to mortgage loans held-for-sale, net		131,719
Cash and cash equivalents	70,722	137,579
Cash held in trust	5,005	186
Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows	$ 75,727	$ 137,765