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Net Interest Income
 9 Months Ended
Sep. 30, 2021
Banking and Thrift, Interest [Abstract]  
Net Interest Income Net Interest Income
The following table details the components of the Company's interest income and interest expense for the three and nine months ended September 30, 2021 and 2020, respectively (dollar amounts in thousands):
For the Three Months Ended September 30,For the Nine Months Ended
September 30,
2021202020212020
Interest income
Residential loans
Residential loans$20,480 $16,006 $60,295 $55,157 
Consolidated SLST10,245 10,896 31,042 34,542 
Residential loans held in securitization trusts11,008 3,802 28,909 4,725 
Total residential loans41,733 30,704 120,246 94,424 
Multi-family loans
Preferred equity and mezzanine loan investments3,449 5,300 11,980 15,875 
Consolidated K-Series— — — 151,841 
Total multi-family loans3,449 5,300 11,980 167,716 
Investment securities available for sale7,129 9,282 22,279 41,309 
Other12 72 43 492 
Total interest income52,323 45,358 154,548 303,941 
Interest expense
Repurchase agreements3,110 5,341 10,884 33,453 
Collateralized debt obligations
Consolidated SLST7,116 7,562 21,371 24,255 
Consolidated K-Series— — — 129,762 
Residential loan securitizations5,053 2,160 14,788 2,527 
Non-Agency RMBS re-securitization— 1,524 283 1,994 
Total collateralized debt obligations12,169 11,246 36,442 158,538 
Convertible notes2,810 2,759 8,382 8,234 
Senior unsecured notes1,598 — 2,734 — 
Subordinated debentures458 483 1,374 1,714 
Derivatives— — — 868 
Mortgages payable on operating real estate1,147 — 1,886 — 
Total interest expense21,292 19,829 61,702 202,807 
Net interest income$31,031 $25,529 $92,846 $101,134