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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Investment securities, available for sale, at fair value (including pledged securities of $976,113 and $1,076,187, as of June 30, 2018 and December 31, 2017, respectively, and $50,134 and $47,922 held in securitization trusts as of June 30, 2018 and December 31, 2017, respectively) $ 1,290,015 $ 1,413,081
Multi-family loans held in securitization trusts, at fair value 9,345,360 9,657,421
Derivative assets 10,543 10,101
Cash and cash equivalents 84,717 95,191
Investment in unconsolidated entities 53,671 51,143
Preferred equity and mezzanine loan investments 176,741 138,920
Real estate held for sale in consolidated variable interest entities 29,502 64,202
Goodwill 25,222 25,222
Receivables and other assets 99,213 108,567
Total Assets [1] 11,640,873 12,056,285
Liabilities:    
Financing arrangements 1,179,961 1,276,918
Securitized debt 61,026 81,537
Mortgages and notes payable in consolidated variable interest entities 32,520 57,124
Accrued expenses and other liabilities 83,155 82,126
Subordinated debentures 45,000 45,000
Convertible notes 129,738 128,749
Total Liabilities [1] 10,624,672 11,080,284
Commitments and Contingencies
Stockholders' Equity:    
Common stock, $0.01 par value, 400,000,000 shares authorized, 124,312,846 and 111,909,909 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 1,243 1,119
Additional paid-in capital 825,960 751,155
Accumulated other comprehensive (loss) income (25,450) 5,553
Accumulated deficit (75,541) (75,717)
Company's stockholders' equity 1,015,967 971,865
Non-controlling interest in consolidated variable interest entities 234 4,136
Total equity 1,016,201 976,001
Total Liabilities and Stockholders' Equity 11,640,873 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 1,179,961 1,276,918
Financing arrangements, residential mortgage loans    
Liabilities:    
Financing arrangements 192,233 149,063
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 62,198 70,308
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 8,838,841 9,189,459
Residential mortgage loans held in securitization trusts, net    
ASSETS    
Residential mortgage loans, net 66,047 73,820
Residential mortgage loans, at fair value    
ASSETS    
Residential mortgage loans, net 169,197 87,153
Distressed residential mortgage loans, net (including $105,851 and $121,791 held in securitization trusts as of June 30, 2018 and December 31, 2017, respectively)    
ASSETS    
Residential mortgage loans, net $ 290,645 $ 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 June 30, 2018 and December 31, 2017, assets of consolidated VIEs totaled $9,663,179 and $10,041,468, respectively, and the liabilities of consolidated VIEs totaled $9,027,733 and $9,436,421, respectively. See Note 10 for further discussion.