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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Investment securities, available for sale, at fair value (including $46,623 and $43,897 held in securitization trusts as of September 30, 2017 and December 31, 2016, respectively, and pledged securities of $493,632 and $690,592, as of September 30, 2017 and December 31, 2016, respectively) $ 674,161 $ 818,976
Multi-family loans held in securitization trusts, at fair value 8,399,334 6,939,844
Derivative assets 182,115 150,296
Receivable for securities sold 1,261 0
Cash and cash equivalents 101,904 83,554
Investment in unconsolidated entities 51,268 79,259
Mezzanine loan and preferred equity investments 122,578 100,150
Real estate held for sale in consolidated variable interest entities 64,097 0
Goodwill 25,222 25,222
Receivables and other assets 123,944 138,323
Total Assets [1] 10,264,922 8,951,631
Liabilities:    
Financing arrangements 608,304 773,142
Securitized debt 98,371 158,867
Mortgages and notes payable in consolidated variable interest entities 57,342 1,588
Derivative liabilities 467 498
Payable for securities purchased 181,718 148,015
Accrued expenses and other liabilities 71,394 64,381
Subordinated debentures 45,000 45,000
Convertible notes 128,273 0
Total Liabilities [1] 9,418,917 8,100,469
Commitments and Contingencies
Stockholders' Equity:    
Common stock, $0.01 par value, 400,000,000 shares authorized, 111,854,023 and 111,474,521 shares issued and outstanding as of September 30, and December 31, 2016, respectively 1,119 1,115
Additional paid-in capital 750,438 748,599
Accumulated other comprehensive income 9,203 1,639
Accumulated deficit (77,966) (62,537)
Company's stockholders' equity 842,053 848,075
Non-controlling interest in consolidated variable interest entities 3,952 3,087
Total equity 846,005 851,162
Total Liabilities and Stockholders' Equity 10,264,922 8,951,631
Assets of consolidated VIEs 8,799,352 7,330,872
Liabilities of consolidated VIEs 8,255,541 6,902,536
Series B Preferred Stock    
Stockholders' Equity:    
Preferred stock 72,397 72,397
Series C Preferred Stock    
Stockholders' Equity:    
Preferred stock 86,862 86,862
Financing arrangements, portfolio investments    
Liabilities:    
Financing arrangements 608,304 773,142
Financing arrangements, residential mortgage loans    
Liabilities:    
Financing arrangements 160,562 192,419
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 76,867 91,663
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 7,990,619 6,624,896
Residential mortgage loans held in securitization trusts, net    
ASSETS    
Residential mortgage loans, net 79,875 95,144
Residential mortgage loans, at fair value    
ASSETS    
Residential mortgage loans, net 69,512 17,769
Distressed residential mortgage loans, net (including $133,972 and $195,347 held in securitization trusts as of September 30, 2017 and December 31, 2016, respectively)    
ASSETS    
Residential mortgage loans, net $ 369,651 $ 503,094
[1] Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of September 30, 2017 and December 31, 2016, assets of consolidated VIEs totaled $8,799,352 and $7,330,872, respectively, and the liabilities of consolidated VIEs totaled $8,255,541 and $6,902,536, respectively. See Note 10 for further discussion.