CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest income
Residential mortgage investments		$ 320,217	$ 274,891	$ 232,435
Other		2,753	1,689	964
Interest income		322,970	276,580	233,399
Interest expense
Secured borrowings		(246,212)	(206,976)	(138,757)
Unsecured borrowings		(7,611)	(7,611)	(7,610)
Interest expense		(253,823)	(214,587)	(146,367)
Net interest income		69,147	61,993	87,032
Other (expense) income:
Loss on derivative instruments (net)	[1]	(90,578)
Loss on sale of investments (net)		(1,365)
Compensation-related expense		(8,197)	(7,759)	(4,915)
Other general and administrative expense		(4,494)	(4,527)	(4,689)
Miscellaneous other revenue		149	365	2,161
Operating expenses		(104,485)	(11,921)	(7,443)
Net (loss) income		(35,338)	50,072	79,589
Less preferred stock dividends		(19,368)	(19,368)	(17,442)
Net (loss) income available to common stockholders		$ (54,706)	$ 30,704	$ 62,147
Basic and diluted net (loss) income per common share		$ (0.62)	$ 0.34	$ 0.65

[1] Included in “Loss on derivative instruments (net)” on the face of the Statement of Operations.