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CONSOLIDATED STATEMENT OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified | 0 Months Ended | 3 Months Ended | 9 Months Ended
--- | --- | --- | ---
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013
INTEREST INCOME (EXPENSE) |  |  |
Interest income | $ 0 | $ 11,223 | $ 15,815
Interest expense | 0 | (1,248) | (1,773)
Total net interest income | 0 | 9,975 | 14,042
EXPENSES |  |  |
Management fees | 8 | 644 | 1,466
Professional fees | 0 | 200 | 468
Other operating expenses | 0 | 513 | 980
Total expenses | 8 | 1,357 | 2,914
OTHER INCOME (LOSS) |  |  |
Net realized losses on real estate securities | 0 | (24,173) | (26,290)
Net realized gains on financial derivatives | 0 | 4,273 | 12,650
Change in net unrealized gains (losses) on real estate securities | 0 | 30,239 | (15,391)
Change in net unrealized gains (losses) on financial derivatives | 0 | (12,172) | 16,114
Total other loss | 0 | (1,833) | (12,917)
NET INCOME (LOSS) | $ (8) | $ 6,785 | $ (1,789)
NET INCOME (LOSS) PER COMMON SHARE: |  |  |
Basic (in dollars per share) | $ (0.01) | $ 0.74 | $ (0.31)

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