CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INCOME
Interest income	$ 15,738	$ 18,456
Interest expense	(14,106)	(14,925)
Net interest income	1,632	3,531
Net (increase)/decrease in the net present value of expected credit losses	(4,230)	621
Net interest (loss)/income after the impact of changes in the net present value of expected credit losses	(2,598)	4,152
Income/(loss) from investments in affiliates	521	(98)
Loss on joint venture refinancing on beneficial interests	0	(995)
Mark to market loss on mortgage loans held-for-sale, net	(47,307)	0
Other income/(loss)	3	(2,519)
Total (loss)/revenue, net	(49,381)	540
EXPENSE
Related party expense – loan servicing fees	1,734	1,860
Related party expense – management fee	17,459	1,828
Professional fees	705	934
Fair value adjustment on put option liability and warrants	1,353	1,622
Other expense	2,445	1,614
Total expense	23,696	7,858
Gain on debt extinguishment	0	(47)
Loss before provision for income taxes	(73,077)	(7,271)
Provision for income taxes	915	93
Consolidated net loss	(73,992)	(7,364)
Less: consolidated net (loss)/income attributable to the non-controlling interest	(14)	30
Consolidated net loss attributable to the Company	(73,978)	(7,394)
Less: dividends on preferred stock	341	547
Consolidated net loss attributable to common stockholders	$ (74,319)	$ (7,941)
Basic loss per common share (in dollars per share)	$ (2.41)	$ (0.34)
Diluted loss per common share (in dollars per share)	$ (2.41)	$ (0.34)
Weighted average shares - basic (in shares)	30,700,278	22,920,943
Weighted average shares - diluted (in shares)	30,893,391	22,920,943