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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST INCOME:    
Investment securities and other interest earning assets $ 19,099 $ 15,316
Total interest income 210,613 147,982
INTEREST EXPENSE:    
Repurchase agreements and other interest bearing liabilities 21,613 20,386
Total interest expense 163,531 121,779
NET INTEREST INCOME 47,082 26,203
NON-INTEREST (LOSS) INCOME:    
Recovery of loan losses 0 1,065
Realized (losses) gains, net (147,918) 22,006
Realized loss on de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations, net (54,118) 0
Unrealized (losses) gains, net (396,780) 2,708
Impairment of goodwill (25,222) 0
Loss on extinguishment of debt 0 (2,857)
Income from real estate held for sale in consolidated variable interest entities 0 215
Other income 2,035 7,728
Total non-interest (loss) income (622,003) 30,865
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:    
General and administrative expenses 10,806 8,910
Expenses, other operating 0 482
Total general, administrative and operating expenses 13,885 12,644
(LOSS) INCOME FROM OPERATIONS BEFORE INCOME TAXES (588,806) 44,424
Income tax (benefit) expense (239) 74
NET (LOSS) INCOME (588,567) 44,350
Net loss (income) attributable to non-controlling interest in consolidated variable interest entities 184 (211)
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY (588,383) 44,139
Preferred stock dividends (10,297) (5,925)
NET (LOSS) INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ (598,680) $ 38,214
Basic (loss) earnings per common share (in dollars per share) $ (1.71) $ 0.22
Diluted (loss) earnings per common share (in dollars per share) $ (1.71) $ 0.21
Weighted average shares outstanding-basic (in shares) 350,912 174,421
Weighted average shares outstanding-diluted (in shares) 350,912 194,970
Convertible notes    
INTEREST EXPENSE:    
Interest expense $ 2,735 $ 2,691
Subordinated debentures    
INTEREST EXPENSE:    
Subordinated debentures 649 741
Securitized debt    
INTEREST EXPENSE:    
Interest expense 0 742
Residential loans    
INTEREST INCOME:    
Interest income 34,300 15,891
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:    
Expenses, other operating 3,079 3,252
Preferred equity and mezzanine loan investments    
INTEREST INCOME:    
Interest income 5,373 5,007
Multi-family loans held in securitization trusts    
INTEREST INCOME:    
Interest income 151,841 111,768
Residential collateralized debt obligations    
INTEREST EXPENSE:    
Interest expense 8,772 422
Multi-family collateralized debt obligations, at fair value    
INTEREST EXPENSE:    
Interest expense $ 129,762 $ 96,797