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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Consolidated net income $ 14,824 $ 9,474
Adjustments to reconcile consolidated net income to net cash from operating activities    
Stock-based management fee and compensation expense 514 921
Non-cash interest income accretion (20,711) (11,850)
(Gain) loss on sale of property (1,086) 9
Depreciation of property 11 1
Impairment of real estate owned 200  
Amortization of deferred financing costs 2,889 435
Net change in operating assets and liabilities    
Cash held in trust (343) (41)
Prepaid expenses and other assets (521) (3,186)
Receivable from servicer (1,505) (2,198)
Undistributed income from investment in affiliate (259) (275)
Accrued expenses, Management fee payable, and other liabilities 1,693 1,685
Net cash from operating activities (4,294) (5,025)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of mortgage loans and related balances (89,328) (233,626)
Principal paydowns on mortgage loans 23,595 7,260
Purchase of property held-for-sale and related balances   (2,794)
Proceeds from sale of property held-for-sale 5,220 357
Investment in equity method investee (1,111)  
Distribution from affiliate 95 67
Renovations of rental property and property held for sale (478) (139)
Net cash from investing activities (62,007) (228,875)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from repurchase transactions 71,086 153,841
Proceeds from sale of secured notes 101,431 35,213
Repayments on repurchase transactions (73,379) (15,286)
Repayments on secured notes (19,421) (3,543)
Sale of common stock, net of offering costs 31,964 51,529
Distribution to non-controlling interest (305) (213)
Dividends paid on common stock (7,511) (4,541)
Net cash from financing activities 103,865 217,000
NET CHANGE IN CASH AND CASH EQUIVALENTS 37,564 (16,900)
CASH AND CASH EQUIVALENTS, beginning of period 30,795 53,099
CASH AND CASH EQUIVALENTS, end of period 68,359 36,199
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 7,952 2,544
Cash paid for income taxes
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Transfer of loans to rental property or property held-for-sale 10,930 4,965
Issuance of common stock for management and director fees 514 $ 921
Transfer of property held-for-sale to loans $ 143