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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Preferred stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 25,000,000 25,000,000
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 125,000,000 125,000,000
Common stock, shares issued (in shares) 36,992,019 27,460,161
Common stock, shares outstanding (in shares) 36,992,019 27,460,161
Allowance for beneficial interests credit losses $ 403,000 $ 3,426,000
Mortgage loans held-for-sale, net [1] 368,288,000 55,718,000
Property held-for-sale, valuation allowances 1,600,000 1,200,000
HTM, allowance for expected credit losses 0 0
Unrealized losses on debt securities available-for-sale transferred to held-to-maturity 998,000 629,000
Preferred stock payable 12,600,000  
Noncontrolling interest [2] 1,939,000 1,962,000
Debt securities available-for-sale, at fair value    
Basis 132,800,000 139,600,000
Debt securities accumulated unrealized gain (loss) $ 7,700,000 $ (8,000,000)
2017-D    
Ownership percentage by parent (as percent) 50.00% 50.00%
Ownership percentage by third parties (as percent) 50.00% 50.00%
AS Ajax E II LLC    
Ownership percentage by parent (as percent) 53.10% 53.10%
Great Ajax II REIT    
Ownership percentage by parent (as percent) 99.90% 99.90%
Mortgage loans    
Mortgage loans held-for-sale and held-for-investment $ 623,189,000 $ 628,615,000
Secured Debt    
Debt issuance costs, net 2,800,000 3,100,000
Convertible Debt    
Debt issuance costs, net 0 0
Notes Payable    
Debt issuance costs, net 2,900,000 3,200,000
Consolidated entities    
Mortgage loans held-for-sale, net 200,000 600,000
Consolidated entities | 2017-D    
Noncontrolling interest 800,000 800,000
Consolidated entities | AS Ajax E II LLC    
Noncontrolling interest 1,000,000 1,000,000
Consolidated entities | Great Ajax II REIT    
Noncontrolling interest 100,000 100,000
Beneficial interests in securitization trusts    
Allowance for beneficial interests credit losses 9,100,000 6,900,000
Accumulated net investment gain (loss) attributable to parent    
Unrealized losses on debt securities available-for-sale transferred to held-to-maturity $ 5,193,000 $ 5,989,000
Preferred stock - series A shares    
Preferred stock, fixed-to-floating rate cumulative redeemable 7.25% 7.25%
Preferred stock, liquidation preference per share (in dollars per share) $ 25.00 $ 25.00
Preferred stock, shares issued (in shares) 135,930 424,949
Preferred stock, shares outstanding (in shares) 0 424,949
Preferred stock - series B shares    
Preferred stock, fixed-to-floating rate cumulative redeemable 5.00% 5.00%
Preferred stock, liquidation preference per share (in dollars per share) $ 25.00 $ 25.00
Preferred stock, shares issued (in shares) 363,245 1,135,590
Preferred stock, shares outstanding (in shares) 0 1,135,590
[1] Mortgage loans held-for-sale, net and mortgage loans held-for-investment, net include $623.2 million and $628.6 million of loans at March 31, 2024 and December 31, 2023, respectively, transferred to securitization trusts that are variable interest entities (“VIEs”); these loans can only be used to settle obligations of the VIEs. Secured borrowings consist of notes issued by VIEs that can only be settled with the assets and cash flows of the VIEs. The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.). See Note 9 — Debt. Mortgage loans held-for-investment, net include $0.4 million and $3.4 million of allowance for expected credit losses at March 31, 2024 and December 31, 2023, respectively.
[2] As of March 31, 2024, non-controlling interests includes $0.8 million from a 50.0% owned joint venture, $1.0 million from a 53.1% owned subsidiary and $0.1 million from a 99.9% owned subsidiary which the Company consolidates. As of December 31, 2023, non-controlling interests includes $0.8 million from a 50.0% owned joint venture, $1.0 million from a 53.1% owned subsidiary and $0.1 million from a 99.9% owned subsidiary which the Company consolidates.