CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net (loss) income	$ (471,630)	$ 66,342
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net accretion	(7,622)	(21,566)
Realized losses (gains), net	148,852	(26,453)
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	293,908	(2,786)
Impairment of goodwill	25,222	0
Gain on sale of real estate held for sale in consolidated variable interest entities	0	(1,580)
Impairment of real estate under development in consolidated variable interest entities	1,754	1,660
Loss on extinguishment of debt	0	2,857
Recovery of loan losses	0	(2,362)
Income from unconsolidated entity, preferred equity and mezzanine loan investments	(15,234)	(22,292)
Distributions of income from unconsolidated entity, preferred equity and mezzanine loan investments	10,970	12,706
Stock based compensation expense, net	4,392	2,792
Changes in operating assets and liabilities:
Receivables and other assets	64,072	(21,763)
Accrued expenses and other liabilities	(70,350)	19,410
Net cash provided by operating activities	38,452	6,965
Cash Flows from Investing Activities:
Proceeds from sales of investment securities	1,445,196	56,769
Principal paydowns on investment securities available for sale	145,234	84,418
Purchases of investment securities	(448,093)	(321,134)
Principal repayments received on preferred equity and mezzanine loan investments	7,576	20,416
Return of capital from unconsolidated entity investments	157	639
Funding of preferred equity, equity and mezzanine loan investments	(30,546)	(130,004)
Net proceeds from sale of real estate held for sale in consolidated variable interest entities	0	3,587
Net payments made on other derivative instruments settled during the period	(28,233)	(33,377)
Proceeds from sale of real estate owned	2,961	1,266
Capital expenditures on real estate held for sale in consolidated variable interest entities	0	(128)
Purchases of other assets	(225)	(923)
Net cash provided by (used in) investing activities	2,023,782	(549,904)
Cash Flows from Financing Activities:
Net (payments made on) proceeds from repurchase agreements	(2,143,059)	471,998
Proceeds from issuance of securitized debt	109,309	0
Common stock issuance, net	511,924	321,655
Preferred stock issuance, net	0	16,101
Dividends paid on common stock	(58,274)	(68,684)
Dividends paid on preferred stock	(10,175)	(11,850)
Payments made on mortgages and notes payable in consolidated variable interest entities	0	(36)
Payments made on residential collateralized debt obligations	(42,987)	(7,792)
Payments made on multi-family collateralized debt obligations	(147,376)	(106,091)
Extinguishment of and payments made on securitized debt	0	(45,557)
Net cash (used in) provided by financing activities	(1,780,638)	569,744
Net Increase in Cash, Cash Equivalents and Restricted Cash	281,596	26,805
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	121,612	109,145
Cash, Cash Equivalents and Restricted Cash - End of Period	403,208	135,950
Supplemental Disclosure:
Cash paid for interest	257,112	294,817
Cash paid for income taxes	1	21
Non-Cash Investment Activities:
Purchase of investment securities not yet settled	0	3,132
Transfer from residential loans to real estate owned	4,302	2,368
Non-Cash Financing Activities:
Mortgages and notes payable assumed by purchaser of real estate held for sale in consolidated variable entities	0	27,260
Cash, Cash Equivalents and Restricted Cash Reconciliation:
Total cash, cash equivalents, and restricted cash	403,208	135,950
Multi-family loans held in securitization trust
Non-Cash Investment Activities:
De-consolidation of multi-family loans held in securitization trusts and collateralized debt obligations	17,381,483	0
Consolidation of multi-family loans held in securitization trusts	0	2,426,210
Multi-family collateralized debt obligations, at fair value
Non-Cash Investment Activities:
De-consolidation of multi-family loans held in securitization trusts and collateralized debt obligations	16,612,093	0
Consolidation of multi-family collateralized debt obligations	0	2,324,639
Residential loans
Cash Flows from Investing Activities:
Principal repayments received on loans	196,569	72,259
Proceeds from sales of residential loans	93,755	71,969
Purchases of residential mortgage loans and multi-family loans held in securitization trusts	(155,583)	(380,454)
Multi-family Loans held in securitization trusts and multi-family collateralized debt obligations
Cash Flows from Investing Activities:
Net proceeds from sale of real estate held for sale in consolidated variable interest entities	555,218	0
Multi-family loans held in securitization trust
Cash Flows from Investing Activities:
Principal repayments received on loans	239,796	106,363
Investments held in multi-family securitized trusts
Cash Flows from Investing Activities:
Purchases of residential mortgage loans and multi-family loans held in securitization trusts	$ 0	$ (101,570)

Increase/decrease carrying amounts of receivables due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy. Sum of the carrying amount for an unclassified balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs and the carrying amount as of the balance sheet date of assets not otherwise specified in the taxonomy. Also includes assets not individually reported in the financial statements, or not separately disclosed in notes.

No definition available.