v3.21.2
Condensed Consolidated Statement of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net Interest Income        
Interest income $ 40,146,000 $ 43,075,000 $ 126,115,000 $ 134,463,000
Interest expense (10,604,000) (12,937,000) (33,111,000) (49,713,000)
Total net interest income 29,542,000 30,138,000 93,004,000 84,750,000
Other Income (Loss)        
Realized gains (losses) on securities and loans, net 6,359,000 1,446,000 8,627,000 (2,335,000)
Realized (gains) losses on financial derivatives, net (1,782,000) (1,620,000) 4,438,000 (25,702,000)
Realized gains (losses) on real estate owned, net (50,000) (18,000) (63,000) 121,000
Unrealized gains (losses) on securities and loans, net (3,212,000) 24,208,000 5,006,000 (65,418,000)
Unrealized gains (losses) on financial derivatives, net 1,155,000 (298,000) 6,183,000 (2,109,000)
Unrealized gains (losses) on real estate owned, net 672,000 122,000 (1,435,000) (462,000)
Other, net 2,986,000 (2,747,000) 9,310,000 (1,503,000)
Total other income (loss) 6,128,000 21,093,000 32,066,000 (97,408,000)
Expenses        
Base management fee to affiliate (Net of fee rebates) [1] 3,675,000 2,981,000 10,308,000 8,330,000
Incentive Fee Expense 5,255,000 0 12,412,000 0
Other investment related expenses        
Servicing expense 1,182,000 2,379,000 3,142,000 7,402,000
Debt issuance costs related to Other secured borrowings, at fair value 0 0 3,704,000 2,075,000
Other 1,697,000 1,199,000 5,719,000 3,328,000
Professional fees 1,202,000 1,209,000 3,437,000 3,819,000
Compensation expense 1,554,000 1,085,000 4,386,000 2,813,000
Other expenses 1,682,000 1,625,000 4,893,000 4,876,000
Total expenses 16,247,000 10,478,000 48,001,000 32,643,000
Net Income (Loss) before Income Tax Expense (Benefit) and Earnings (Losses) from Investments in Unconsolidated Entities 19,423,000 40,753,000 77,069,000 (45,301,000)
Income Tax Expense (Benefit) (2,009,000) 2,494,000 3,149,000 3,490,000
Earnings (losses) from investments in unconsolidated entities 2,549,000 11,443,000 27,786,000 10,590,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 23,981,000 49,702,000 101,706,000 (38,201,000)
Net income (loss) attributable to non-controlling interests 1,476,000 1,559,000 4,809,000 1,894,000
Dividends on preferred stock 1,941,000 1,940,000 5,822,000 5,822,000
Net Income (Loss) Attributable to Common Stockholders $ 20,564,000 $ 46,203,000 $ 91,075,000 $ (45,917,000)
Net Income (Loss) per Share of Common Stock:        
Basic and Diluted (USD per share) $ 0.41 $ 1.06 $ 1.99 $ (1.06)
[1] See Note 13 for further details on management fee rebates.