XML 12 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Investment securities available for sale, at fair value $ 960,808 $ 2,006,140
Investments in unconsolidated entities 214,289 189,965
Preferred equity and mezzanine loan investments   180,045
Derivative assets 0 15,878
Cash and cash equivalents 371,697 118,763
Goodwill 0 25,222
Receivables and other assets 130,858 169,214
Total Assets [1] 4,616,730 23,483,369
Liabilities:    
Repurchase agreements 87,571 2,352,102
Convertible notes 134,117 132,955
Subordinated debentures 45,000 45,000
Accrued expenses and other liabilities 77,614 177,260
Total Liabilities [1] 2,453,789 21,278,340
Commitments and Contingencies
Stockholders' Equity:    
Preferred stock, par value $0.01 per share, 30,900,000 shares authorized, 20,872,888 shares issued and outstanding ($521,822,200 aggregate liquidation preference) 504,765 504,765
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 377,465,405 and 291,371,039 shares issued and outstanding, respectively 3,775 2,914
Additional paid-in capital 2,337,222 1,821,785
Accumulated other comprehensive (loss) income (34,428) 25,132
Accumulated deficit (646,629) (148,863)
Company's stockholders' equity 2,164,705 2,205,733
Non-controlling interest in consolidated variable interest entities (1,764) (704)
Total equity 2,162,941 2,205,029
Total Liabilities and Stockholders' Equity 4,616,730 23,483,369
Repurchase agreements    
Liabilities:    
Repurchase agreements 963,127 3,105,416
Securitized debt    
Liabilities:    
Collateralized debt obligations 108,999 0
Multi-family collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 0 16,724,451
Residential collateralized debt obligations, at fair value    
Liabilities:    
Collateralized debt obligations 1,088,233 1,052,829
Residential collateralized debt obligations    
Liabilities:    
Collateralized debt obligations 36,699 40,429
Residential loans, at fair value    
ASSETS    
Residential mortgage loans 2,758,228 2,758,640
Residential loans    
ASSETS    
Residential mortgage loans 0 202,756
Multi-family loans held in securitization trusts, at fair value    
ASSETS    
Multi-family loans held in securitization trusts, at fair value $ 0 $ 17,816,746
[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, 2020 and December 31, 2019, assets of consolidated VIEs totaled $1,541,953 and $19,270,384, respectively, and the liabilities of consolidated VIEs totaled $1,238,373 and $17,878,314, respectively. See Note 9 for further discussion.