Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INTEREST INCOME, NET
Interest income	$ 60,555,000	$ 40,820,000
Interest expense	11,476,000	7,499,000
NET INTEREST INCOME	49,079,000	33,321,000
REALIZED AND UNREALIZED LOSSES, NET
Net realized loss on mortgage loans, derivative contracts, RMBS, and CMBS	(4,926,000)	(20,793,000)
Net unrealized loss on mortgage loans and derivative contracts	(2,392,000)	(2,144,000)
TOTAL REALIZED AND UNREALIZED LOSSES, NET	(7,318,000)	(22,937,000)
EXPENSES
Operating expenses	6,060,000	1,680,000
Due diligence and transaction costs	2,551,000	356,000
Stock compensation	1,715,000	0
Operating expenses incurred with affiliate	2,828,000	1,742,000
Securitization costs	0	2,527,000
Management fee incurred with affiliate	5,894,000	3,343,000
Total operating expenses	19,048,000	9,648,000
INCOME BEFORE INCOME TAXES	22,713,000	736,000
Income tax expense	1,600,000	0
NET INCOME	21,113,000	736,000
Preferred dividends	(15,000)	(15,000)
NET INCOME ALLOCABLE TO COMMON STOCKHOLDER(S)	21,098,000	721,000
Other comprehensive income (loss)	4,039,000	(4,593,000)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 25,137,000	$ (3,872,000)
Basic earnings per common share (USD per share)	$ 1.02	$ 0.05
Diluted earnings per common share (USD per share)	$ 1.01	$ 0.05
Weighted average number of common shares outstanding:
Basic (shares)	20,601,964	15,724,050
Diluted (shares)	20,852,554	15,724,050