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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Investment securities, available for sale, at fair value (including pledged securities of $1,077,540 and $1,076,187, as of March 31, 2018 and December 31, 2017, respectively, and $48,857 and $47,922 held in securitization trusts as of March 31, 2018 and December 31, 2017, respectively) $ (1,400,370) $ (1,413,081)
Multi-family loans held in securitization trusts, at fair value 9,438,309 9,657,421
Derivative assets 9,815 846
Cash and cash equivalents 65,495 95,191
Investment in unconsolidated entities 51,921 51,143
Preferred equity and mezzanine loan investments 154,006 138,920
Real estate held for sale in consolidated variable interest entities 29,293 64,202
Goodwill 25,222 25,222
Receivables and other assets 99,032 117,822
Total Assets [1] 11,765,879 12,056,285
Liabilities:    
Financing arrangements 1,287,314 1,276,918
Securitized debt 70,215 81,537
Mortgages and notes payable in consolidated variable interest entities 32,072 57,124
Accrued expenses and other liabilities 81,579 82,126
Subordinated debentures 45,000 45,000
Convertible notes 129,242 128,749
Total Liabilities [1] 10,815,092 11,080,284
Commitments and Contingencies
Stockholders' Equity:    
Common stock, $0.01 par value, 400,000,000 shares authorized, 112,116,506 and 111,909,909 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively 1,121 1,119
Additional paid-in capital 751,542 751,155
Accumulated other comprehensive (loss) income (18,925) 5,553
Accumulated deficit (74,447) (75,717)
Company's stockholders' equity 949,046 971,865
Non-controlling interest in consolidated variable interest entities 1,741 4,136
Total equity 950,787 976,001
Total Liabilities and Stockholders' Equity 11,765,879 12,056,285
Series B Preferred Stock    
Stockholders' Equity:    
Preferred stock 72,397 72,397
Series C Preferred Stock    
Stockholders' Equity:    
Preferred stock 86,862 86,862
Series D Preferred Stock    
Stockholders' Equity:    
Preferred stock 130,496 130,496
Financing arrangements, portfolio investments    
Liabilities:    
Financing arrangements 1,287,314 1,276,918
Financing arrangements, residential mortgage loans    
Liabilities:    
Financing arrangements 149,049 149,063
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 67,154 70,308
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 8,953,467 9,189,459
Residential mortgage loans held in securitization trusts, net    
ASSETS    
Residential mortgage loans, net 70,864 73,820
Residential mortgage loans, at fair value    
ASSETS    
Residential mortgage loans, net 99,480 87,153
Distressed residential mortgage loans, net (including $119,201 and $121,791 held in securitization trusts as of March 31, 2018 and December 31, 2017, respectively)    
ASSETS    
Residential mortgage loans, net $ 322,072 $ 331,464
[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 March 31, 2018 and December 31, 2017, assets of consolidated VIEs totaled $9,771,205 and $10,041,468, respectively, and the liabilities of consolidated VIEs totaled $9,157,640 and $9,436,421, respectively. See Note 10 for further discussion.