7Baggers

Ares Commercial Real Estate Corporation
(NYSE:ACRE) 

ACRE stock logo

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originate...

Sector: Real Estate
Industry: REIT-Mortgage
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Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-09-30 2015-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 2012-06-30 2012-03-31 
                                                        
      revenue:
    		                                                    
      interest income
    		24,906,000 23,732,000 23,261,000 23,117,000 27,480,000 33,492,000 39,345,000 40,847,000 44,033,000 44,348,000 52,819,000 51,941,000 49,500,000 52,552,000 45,633,000 38,621,000 33,364,000 38,044,000 34,023,000 30,704,000 29,144,000 30,626,000                          8,086,000 6,711,000 1,889,000 1,559,000 949,000 
      interest expense
    		-17,361,000 -16,078,000 -14,790,000 -16,101,000 -18,189,000 -22,282,000 -27,401,000 -27,483,000 -28,819,000 -29,957,000 -29,745,000 -26,951,000 -22,999,000 -22,143,000 -18,362,000 -13,475,000 -12,013,000 -14,180,000 -12,669,000 -12,139,000 -11,499,000 -11,875,000 -13,042,000 -15,534,000 -15,044,000 -15,124,000 -16,675,000 -15,740,000 -16,357,000 -16,378,000 -15,968,000 -14,299,000 -14,348,000 -13,825,000 -12,232,000 -10,788,000 -10,898,000 -9,018,000 -8,415,000  -8,707,000 -8,701,000  -8,010,000  -5,072,000 -1,995,000 -1,879,000 -1,385,000    
      net interest margin
    		7,545,000 7,654,000 8,471,000 7,016,000 9,291,000 11,210,000 11,944,000 13,364,000 15,214,000 14,391,000 23,074,000 24,990,000 26,501,000 30,409,000 27,271,000 25,146,000 21,351,000 23,864,000 21,354,000 18,565,000 17,645,000 18,751,000 16,793,000 15,914,000 13,492,000 13,145,000 13,318,000 12,246,000 14,526,000 13,984,000 13,636,000 13,137,000 10,872,000 14,726,000 10,411,000 10,339,000 12,610,000 11,758,000 10,514,000 10,225,000 12,242,000 12,311,000 12,992,000 9,957,000 10,900,000 10,080,000 8,700,000 6,207,000 5,326,000 1,491,000 1,206,000 610,000 
      revenue from real estate owned
    		5,915,000 5,561,000 5,634,000 5,549,000 5,657,000 6,299,000 4,709,000 3,433,000 3,478,000 3,161,000 809,000      2,672,000 6,247,000 5,850,000 2,658,000 3,561,000 3,623,000 1,189,000 5,220,000 8,088,000 6,702,000 8,357,000                          
      total revenue
    		13,460,000 13,215,000 14,105,000 12,565,000 14,948,000 17,509,000 16,653,000 16,797,000 18,692,000 17,552,000 23,883,000 24,990,000 26,501,000 30,409,000 27,271,000 25,146,000 24,023,000 30,111,000 27,204,000 21,223,000 21,206,000 22,374,000 17,982,000 21,134,000 21,580,000 19,847,000 21,675,000 14,157,000            15,006,000 23,916,000 22,131,000 18,437,000 15,035,000 19,171,000 15,443,000 13,077,000      
      yoy
    		-9.95% -24.52% -15.30% -25.19% -20.03% -0.24% -30.27% -32.79% -29.47% -42.28% -12.42% -0.62% 10.32% 0.99% 0.25% 18.48% 13.28% 34.58% 51.28% 0.42% -1.73% 12.73% -17.04% 49.28%                -0.19% 24.75% 43.31% 40.99%          
      qoq
    		1.85% -6.31% 12.26% -15.94% -14.63% 5.14% -0.86% -10.14% 6.49% -26.51% -4.43% -5.70% -12.85% 11.51% 8.45% 4.67% -20.22% 10.69% 28.18% 0.08% -5.22% 24.42% -14.91% -2.07% 8.73% -8.43% 53.10%             -37.26% 8.07% 20.04% 22.63% -21.57% 24.14% 18.09%       
      expenses:
    		                                                    
      management and incentive fees to affiliate
    		2,400,000 2,420,000 2,420,000 2,430,000 2,567,000 2,571,000 2,654,000 2,692,000 2,768,000 2,946,000 2,974,000 3,334,000 3,010,000 4,290,000 3,868,000 3,766,000 2,974,000 3,443,000 3,175,000 2,567,000 2,388,000 1,847,000 2,152,000 1,773,000 1,958,000 1,578,000 2,252,000 1,574,000 2,116,000 1,571,000 2,173,000 1,558,000 1,549,000 1,554,000 1,654,000 1,812,000 1,576,000 1,690,000               
      professional fees
    		819,000 678,000 526,000 673,000 877,000 663,000 681,000 757,000 533,000 974,000 682,000 626,000 771,000 630,000 842,000 1,100,000 778,000 556,000 480,000 785,000 438,000 639,000 660,000 903,000 641,000 542,000 532,000 478,000 510,000 498,000 455,000 482,000 505,000 350,000 428,000 391,000 525,000 678,000 535,000 699,000 897,000 620,000 775,000 635,000 1,104,000 925,000 675,000 500,000 566,000 292,000 331,000 65,000 
      general and administrative expenses
    		1,417,000 1,594,000 1,733,000 1,995,000 1,720,000 1,844,000 1,939,000 1,957,000 2,081,000 1,830,000 1,691,000 2,038,000 1,685,000 1,777,000 1,416,000 1,587,000 1,613,000 1,271,000 1,119,000 1,157,000 935,000 969,000 959,000 868,000 1,035,000 1,005,000 1,029,000 1,120,000 892,000 852,000 789,000 774,000 822,000 724,000 640,000 642,000 702,000 690,000 686,000 1,819,000 1,714,000 1,632,000 1,831,000 2,437,000 2,600,000 2,219,000 994,000 453,000 482,000 496,000 323,000  
      general and administrative expenses reimbursed to affiliate
    		787,000 810,000 781,000 1,024,000 1,003,000 545,000 871,000 1,277,000 1,132,000 817,000 775,000 1,109,000 732,000 1,136,000 1,011,000 796,000 834,000 703,000 773,000 752,000 763,000 802,000 1,038,000 1,051,000 765,000 831,000 771,000 659,000 946,000 870,000 830,000 924,000 1,016,000 986,000 949,000 948,000 1,024,000 860,000 660,000 1,028,000 953,000 941,000 1,065,000 1,000,000 1,000,000 1,000,000 1,000,000 863,000 747,000 632,000 308,000  
      expenses from real estate owned
    		3,134,000 4,495,000 4,540,000 4,628,000 4,495,000 5,538,000 3,164,000 2,226,000 2,037,000 2,038,000 480,000      4,309,000 6,090,000 5,339,000 3,277,000 4,151,000 4,046,000 3,254,000 6,676,000 7,338,000 6,838,000 7,118,000                          
      total expenses
    		8,557,000 9,997,000 10,000,000 10,750,000 10,662,000 11,161,000 9,309,000 8,909,000 8,551,000 8,605,000 6,602,000 7,107,000 6,198,000 7,833,000 7,137,000 7,249,000 10,508,000 12,063,000 10,886,000 8,538,000 8,675,000 8,303,000 8,063,000 11,271,000 11,737,000 10,794,000 11,702,000 5,518,000 4,464,000 3,791,000 4,247,000 3,738,000 3,892,000 3,614,000 3,671,000 3,793,000 3,827,000 3,918,000 3,219,000 9,329,000 10,975,000 10,108,000 9,784,000 12,106,000 12,450,000 11,362,000 10,135,000 5,079,000 4,999,000 2,045,000 1,381,000 102,000 
      (provision for) reversal of current expected credit losses
    		-11,138,000 -9,835,000 2,190,000 20,150,000 5,340,000                                                
      realized losses on loans
    		-3,340,000  -1,643,000 -33,000,000  15,712,000 5,766,000 16,387,000 45,726,000  4,886,000                                          
      income before income taxes
    		-9,575,000 -3,860,000 4,652,000 -11,035,000 9,626,000 -10,681,000 -5,883,000 -6,125,000 -12,321,000 -39,500,000 9,168,000 -2,244,000 -6,329,000 3,174,000 649,000 10,129,000 16,306,000 17,282,000 9,951,000 15,925,000 14,409,000 15,109,000 9,928,000 -17,254,000 9,843,000 9,053,000 9,973,000 8,639,000 7,245,000 10,193,000 9,389,000 9,399,000        5,677,000    2,929,000   8,127,000      
      income tax expense, including excise tax
    		30,000 5,000 -1,000  281,000 -17,000 -3,000  2,000 -87,000 -16,000 -46,000 110,000 264,000 5,000 98,000 105,000 129,000  185,000 2,000 181,000 160,000 9,000 183,000 19,000 218,000 96,000 43,000 236,000 86,000 81,000 29,000 54,000 27,000 68,000 62,000 161,000               
      net income attributable to common stockholders
    		-9,605,000 -3,865,000 4,653,000 -11,035,000 9,345,000 -10,664,000 -5,880,000 -6,125,000 -12,323,000 -39,413,000 9,184,000 -2,198,000 -6,439,000 2,910,000 644,000 10,031,000 16,201,000 17,153,000 9,951,000 15,740,000 14,407,000 14,928,000 9,768,000 -17,263,000 9,660,000 9,034,000 9,755,000 8,543,000 10,019,000 9,957,000 9,303,000 9,318,000 6,183,000 11,058,000 6,713,000 6,453,000 8,065,000 18,442,000 8,693,000 5,136,000 9,379,000 8,967,000 7,062,000    7,631,000 3,265,000 327,000    
      earnings per common share:
    		                                                    
      basic earnings per common share
    		-170 -70 80 -200 170 -190 -110 -110 -230 -730 170 -40  50 10 200 340 370 210 460 430 450 290  330 320 340             180             
      diluted earnings per common share
    		-170 -70 80 -200 170 -190 -110 -110 -230 -730 170 -40  50 10 200 340 370 210 450 440 440 290  330 310 340             180             
      weighted-average number of common shares outstanding:
    		                                                    
      basic weighted-average shares of common stock outstanding
    		55,322,222,000 54,886,025,000 54,904,862,000 54,856,949,000 54,828,751,000 54,446,368,000 54,464,147,000 54,426,112,000 54,396,397,000 54,281,998,000 54,085,035,000 54,347,204,000 54,591,650,000 51,679,744,000 54,415,545,000 50,562,559,000 47,204,397,000 42,399,613,000 46,957,339,000 34,417,040,000 32,977,462,000 33,337,445,000 33,316,933,000 31,897,952,000 28,609,282,000 28,634,514,000 28,599,282,000 28,561,827,000 28,529,439,000 28,542,828,000 28,524,775,000 28,495,833,000 28,478,237,000 28,481,298,000 28,475,853,000 28,468,819,000 28,461,853,000 28,428,766,000 28,428,703,000    28,484,293,000 28,464,613,000 28,453,739,000 28,442,560,000 27,976,562,000 10,215,782,000 9,212,644,000    
      diluted weighted-average shares of common stock outstanding
    		55,322,222,000 54,886,025,000 55,775,825,000 54,856,949,000 55,694,939,000 54,446,368,000 54,464,147,000 54,426,112,000 54,396,397,000 54,281,998,000 54,796,413,000 54,347,204,000 54,591,650,000 52,126,256,000 54,846,756,000 50,999,505,000 47,654,549,000 42,681,505,000 47,209,469,000 34,720,950,000 33,196,508,000 33,550,444,000 33,539,580,000 31,897,952,000 28,846,641,000 28,867,603,000 28,863,765,000 28,780,980,000 28,656,660,000 28,698,600,000 28,618,308,000 28,598,916,000 28,550,945,000 28,582,690,000 28,546,624,000 28,482,756,000 28,523,306,000 28,513,137,000 28,495,833,000    28,584,784,000 28,604,798,000 28,590,689,000 28,550,982,000 28,027,719,000 10,257,250,000 9,267,162,000    
      dividends declared per share of common stock
    		0.15 0.113 0.15 0.15 0.15 0.188 0.25 0.25 0.25 0.258 0.33 0.35 0.35 0.263 0.35 0.35 0.35 0.263 0.35 0.35 0.248 0.33 0.33 0.33 0.248 0.33 0.33 0.33 0.213 0.29 0.28 0.28 0.203 0.27 0.27 0.27 0.195 0.26 0.26 0.26 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25    
      change in unrealized losses on loans held for sale
    		        -995,000             -3,998,000                               
      provision for current expected credit losses
    		     -4,295,500 7,461,000 -2,374,000 -22,269,000 47,452,000 3,227,000 20,127,000 21,019,000 19,402,000 19,485,000 7,768,000 -594,000 766,000 6,367,000 -3,240,000 -1,878,000 -1,048,000 -4,007,000 27,117,000                             
      gain on sale of real estate owned
    		                2,197,000                                    
      realized losses on loans sold
    		            5,613,000         4,008,000                               
      basic and diluted earnings per common share
    		            -120           -540    300 250 350 330 330         330 310 250 140 230 170  320 40 -60 -30 -120 
      interest income from loans held for investment
    		                      29,835,000 31,448,000 28,536,000 28,269,000 29,993,000 27,986,000 30,883,000 30,362,000 29,604,000 27,436,000 25,220,000 28,551,000 22,643,000 21,127,000 23,508,000 20,776,000 18,929,000 18,750,000 20,949,000 21,012,000 23,170,000 17,967,000 17,735,000 15,152,000 10,695,000      
      unrealized losses on loans held for sale
    		                      3,998,000                              
      operating revenue from real estate owned
    		                           1,911,000                         
      operating expenses from real estate owned
    		                           1,633,000                         
      depreciation of real estate owned
    		                           54,000                         
      net interest margin:
    		                                                    
      net income attributable to acre
    		                            10,019,000 9,957,000 9,303,000 9,318,000 6,183,000 11,058,000 6,713,000 6,478,000 8,721,000 19,741,000 9,981,000 6,425,000 11,710,000 11,263,000 9,295,000          
      less: net income attributable to non-controlling interests
    		                                   -25,000 -656,000 -1,299,000 -1,288,000  -2,331,000 -2,296,000           
      income from continuing operations before income taxes
    		                                6,212,000 11,112,000 6,740,000 6,546,000 8,783,000 7,840,000 7,295,000              
      net income from continuing operations
    		                                6,183,000 11,058,000 6,713,000 6,478,000 8,721,000 7,679,000 7,292,000              
      net income from operations of discontinued operations, net of income taxes
    		                                     1,866,000               
      gain on sale of discontinued operations
    		                                     10,196,000               
      basic earnings per common share:
    		                                                    
      continuing operations
    		                                220 390 240 230 280 220               
      discontinued operations
    		                                     420               
      net income
    		                                220 390 240 230 290 650 310     4,102,000 6,638,000 4,755,000 7,631,000 3,265,000 327,000   508,000 
      yoy
    		                                -24.14% -40.00% -22.58%         25.64% 1929.97%   542.72%     
      qoq
    		                                -43.59% 62.50% 4.35% -20.69% -55.38% 109.68%      -38.20% 39.60% -37.69% 133.72% 898.47%     
      net income margin %
    		0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% NaN% NaN% NaN% NaN% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% 0% 0% 0% 0% 27.28% 34.63% 30.79% 58.35% Infinity% Infinity% NaN% NaN% Infinity% 
      diluted earnings per common share:
    		                                                    
      net loss from operations of discontinued operations, net of income taxes
    		                                                    
      management fees to affiliate
    		                                      1,338,000 1,499,000 1,490,000 1,481,000 1,476,000 1,475,000 1,478,000 1,492,000 1,487,000 643,000 614,000    
      income tax expense
    		                                      3,000  1,231,000 760,000  -1,173,000 83,000 -674,000 496,000      
      net income from discontinued operations held for sale, net of income taxes
    		                                      2,689,000              
      net income from discontinued operations held for sale
    		                                      90              
      mortgage banking revenue:
    		                                                    
      servicing fees
    		                                       4,042,000 4,114,000 3,908,000 3,916,000 3,898,000 3,533,000 5,263,000 503,000      
      gains from mortgage banking activities
    		                                       2,359,000 9,214,000 7,489,000 4,144,000 2,693,000 5,446,000 1,386,000 3,842,000      
      provision for loss sharing
    		                                       228,000 118,000 425,000 566,000 285,000 1,180,000 -119,000 32,000      
      change in fair value of mortgage servicing rights
    		                                        -1,772,000 -2,002,000  -1,798,000  -1,847,000       
      mortgage banking revenue
    		                                       4,781,000 11,674,000 9,820,000 5,445,000 5,078,000 8,271,000 4,683,000       
      compensation and benefits
    		                                       4,284,000 5,921,000 5,434,000 4,637,000 4,704,000 4,510,000 4,021,000 2,281,000      
      net income per common share:
    		                                                    
      weighted average number of common shares outstanding:
    		                                                    
      basic weighted average shares of common stock outstanding
    		                                       28,529,328,000 28,505,729,000 28,491,711,000           
      diluted weighted average shares of common stock outstanding
    		                                       28,602,054,000 28,609,650,000 28,585,780,000           
      gain on sale of loans
    		                                             680,000       
      acquisition and investment pursuit costs
    		                                             20,000 2,052,000 1,121,000 640,000    
      income from operations before income taxes
    		                                        12,941,000 12,023,000 8,653,000  6,721,000 4,081,000       
      income tax benefit
    		                                                    
      other interest expense
    		                                           1,855,000 1,758,000 1,685,000 1,646,000 1,499,000 1,950,000    
      changes in fair value of derivatives
    		                                                    
      income from operations before gain on acquisition and income taxes
    		                                           2,929,000   2,942,000      
      gain on acquisition
    		                                              5,185,000      
      less income attributable to series a convertible preferred stock:
    		                                                    
      preferred dividends
    		                                                    
      accretion of redemption premium
    		                                                    
      basic and diluted earnings (loss) per common share
    		                                              270      
      unrealized gain on derivative
    		                                               2,137,000     
      less income attributable to series a convertible preferred
    		                                                    
      stock:
    		                                                    
      management fees
    		                                                 625,000 419,000  
      quarterly preferred dividends
    		                                                    
      basic and diluted weighted-average shares of common stock outstanding
    		                                                 9,205,480,000   
      basic and diluted dividends declared per share of common stock
    		                                                 0.06   
      weighted-average shares of common stock outstanding — basic and diluted
    		                                                  6,576,923,000 998,571,000 
      dividends declared per common share
    		                                                  60 300 
      general and administrative fees
    		                                                   37,000 
      income from continuing operations
    		                                                   508,000 
      less income allocable to series a convertible preferred stock:
    		                                                    
      quarterly preferred dividend
    		                                                    
      net loss allocable to common stockholder
    		                                                    
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2015-09-30 2015-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 2012-06-30 2012-03-31 
                                                         
        assets
      		                                                   
        cash and cash equivalents
      		86,163,000 29,289,000 84,869,000 89,985,000 125,496,000 63,799,000 68,881,000 70,649,000 99,518,000 110,459,000 61,017,000 142,603,000 153,764,000 141,278,000 77,297,000 25,625,000 13,759,000 50,615,000 15,787,000 97,944,000 74,776,000 81,295,000 72,987,000 74,498,000 5,256,000 5,952,000 5,215,000 12,814,000 11,089,000 5,034,000 5,045,000 5,201,000 28,343,000 28,245,000 5,723,000 44,400,000 47,270,000 41,768,000 5,309,000 10,399,000 8,105,000 9,005,000 11,448,000 20,152,000 30,402,000 12,553,000 40,235,000 22,550,000 23,983,000 87,455,000 4,586,000 
        restricted cash
      		48,169,000 37,868,000 39,007,000 4,150,000 3,587,000 2,495,000 3,466,000                 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 380,000 375,000 379,000 11,732,000 27,209,000 26,935,000 30,280,000 24,080,000 24,388,000 23,051,000 21,894,000 4,670,000 3,719,000 1,922,000 2,087,000 912,000 
        loans held for investment
      		1,629,366,000 1,528,806,000 1,231,232,000 1,300,670,000 1,355,264,000 1,656,688,000 1,812,773,000 1,972,551,000 2,014,500,000 2,126,524,000 2,180,412,000 2,228,100,000 2,173,205,000 2,264,008,000 2,508,609,000 2,605,893,000 2,421,772,000 2,414,383,000 2,363,499,000 1,908,001,000 1,815,219,000 1,778,199,000 1,794,049,000 1,870,639,000 1,682,498,000 1,538,393,000 1,487,735,000 1,548,158,000 1,524,873,000 1,658,862,000 1,746,017,000 1,658,375,000 1,726,283,000 1,543,261,000 1,641,435,000 1,372,078,000 1,313,937,000 1,473,920,000 1,142,967,000 1,269,954,000 1,278,736,000  1,238,292,000 1,161,441,000  692,325,000 525,994,000 409,943,000 190,539,000 78,173,000 77,251,000 
        current expected credit loss reserve
      		-136,830,000 -125,756,000 -115,345,000 -117,695,000 -131,433,000 -136,224,000 -144,068,000 -137,403,000 -139,763,000 -159,885,000 -112,432,000 -108,114,000 -87,502,000 -65,969,000 -46,060,000 -27,613,000 -20,452,000 -23,939,000 -22,691,000 -20,895,000 -23,604,000 -25,454,000 -26,063,000 -29,143,000                            
        loans held for investment, net of current expected credit loss reserve
      		1,492,536,000 1,403,050,000 1,115,887,000 1,182,975,000 1,223,831,000 1,520,464,000 1,668,705,000 1,835,148,000 1,874,737,000 1,966,639,000 2,067,980,000 2,119,986,000 2,085,703,000 2,198,039,000 2,462,549,000 2,578,280,000 2,401,320,000 2,390,444,000 2,340,808,000 1,887,106,000 1,791,615,000 1,752,745,000 1,767,986,000 1,841,496,000                            
        loans held for sale
      		60,544,000       20,534,000                                            
        real estate owned held for investment
      		76,848,000 130,165,000 133,852,000 135,468,000 136,864,000 139,032,000 140,912,000 81,728,000                                            
        real estate owned held for sale
      		53,110,000      14,509,000 14,509,000          36,602,000                                  
        other assets
      		18,934,000 17,770,000 18,252,000 18,252,000 21,275,000 16,732,000 17,125,000 19,074,000 25,795,000 52,354,000 121,949,000 109,452,000 149,471,000 155,749,000 159,610,000 92,429,000 100,726,000 154,177,000 73,395,000 68,694,000 25,823,000 77,542,000 46,163,000 147,075,000 58,100,000 91,953,000 141,227,000 20,275,000 66,983,000 67,237,000 66,075,000 80,200,000 15,214,000 15,583,000 15,033,000 12,142,000 12,121,000 49,072,000 12,457,000 40,426,000 39,023,000  44,332,000 101,121,000  27,691,000 2,302,000 497,000 522,000 752,000 458,000 
        total assets
      		1,836,304,000 1,618,142,000 1,391,867,000 1,438,638,000 1,519,621,000 1,751,206,000 1,940,603,000 2,069,755,000 2,110,697,000 2,279,777,000 2,363,176,000 2,400,011,000 2,444,320,000 2,523,002,000 2,727,186,000 2,696,334,000 2,515,805,000 2,631,838,000 2,466,685,000 2,090,803,000 1,929,497,000 1,949,058,000 2,021,233,000 2,101,355,000 1,784,134,000 1,674,697,000 1,671,447,000 1,618,440,000 1,603,324,000 1,731,512,000 1,817,516,000 1,744,155,000 1,770,219,000 1,587,468,000 1,662,570,000 1,429,000,000 1,373,703,000 1,565,139,000 1,332,071,000 1,502,186,000 1,544,838,000 1,589,781,000 1,402,478,000 1,421,588,000 1,257,861,000 839,806,000 581,059,000 443,953,000 220,253,000 171,259,000 84,901,000 
        liabilities and stockholders' equity
      		                                                   
        liabilities
      		                                                   
        secured funding agreements
      		1,182,096,000 858,176,000 593,046,000 641,842,000 674,405,000 588,468,000 640,610,000 625,936,000 630,299,000 639,817,000 654,507,000 681,257,000 698,153,000 705,231,000 847,697,000 853,059,000 740,022,000 840,047,000 656,014,000 349,582,000 755,552,000 791,136,000 876,842,000 990,564,000 728,589,000 620,030,000 617,524,000 621,549,000 777,974,000 912,410,000 1,000,622,000 929,454,000 957,960,000 730,228,000 809,737,000 576,506,000 780,713,000 879,102,000 601,794,000 521,676,000 560,845,000 504,345,000 341,991,000 457,291,000 341,542,000 294,019,000   48,790,000   
        secured term loan
      		89,538,000 89,360,000 99,088,000 108,780,000 118,437,000 128,062,000 127,828,000 137,409,000 149,443,000 149,393,000 149,344,000 149,295,000 149,247,000 149,200,000 149,153,000 149,107,000 149,061,000 149,016,000 60,000,000 60,000,000 110,000,000 109,803,000 109,588,000 109,378,000 109,149,000 108,940,000 108,735,000 108,537,000 108,345,000 108,151,000 107,980,000 107,797,000 107,595,000 151,761,000 151,112,000 150,486,000 149,878,000 149,270,000 70,205,000             
        collateralized loan obligation securitization debt
      		 99,921,000 117,759,000 137,587,000 151,970,000 455,839,000 574,896,000 588,421,000 595,105,000 723,117,000 735,136,000 735,093,000 735,839,000 777,675,000 822,319,000 851,337,000 861,788,000 861,188,000 940,133,000 979,257,000 443,871,000 443,860,000 443,467,000 443,558,000 443,177,000 442,916,000 442,715,000 442,202,000 270,737,000 271,335,000 271,392,000 271,393,000 271,211,000 270,961,000 270,759,000 270,242,000  57,787,000 104,656,000 222,187,000 246,952,000 256,995,000 308,703,000         
        due to affiliate
      		4,085,000 4,061,000 3,962,000 4,145,000 4,194,000 3,790,000 4,106,000 4,526,000 4,281,000 4,135,000 4,092,000 4,806,000 3,899,000 5,580,000 4,879,000 4,562,000 3,823,000 4,156,000 3,947,000 3,319,000 3,150,000 2,670,000 3,217,000 2,836,000 2,761,000 2,627,000 3,163,000 2,259,000 3,163,000 2,512,000 3,089,000 2,531,000 2,628,000 2,567,000 2,625,000 2,855,000 2,699,000 2,603,000 2,073,000 2,689,000 2,676,000 2,763,000 2,654,000 2,974,000 2,550,000 2,958,000 1,563,000 1,442,000 1,284,000  418,000 
        dividends payable
      		8,442,000 8,442,000 8,365,000 8,368,000 8,353,000 13,924,000 13,809,000 13,812,000 13,802,000 18,220,000 18,082,000 19,180,000 19,346,000 19,347,000 19,196,000 19,198,000 16,740,000 16,674,000 16,523,000 14,248,000 11,124,000 11,072,000 11,072,000 11,057,000 9,546,000 9,526,000 9,527,000 9,520,000 8,914,000 8,323,000 8,036,000 8,008,000 7,722,000 7,717,000 7,718,000 7,690,000 7,406,000 7,406,000 7,413,000 7,152,000 7,152,000 7,146,000 7,151,000 7,151,000 7,147,000 7,119,000 6,822,000 2,317,000 556,000 555,000 502,000 
        other liabilities
      		59,725,000 48,614,000 48,664,000 14,217,000 20,118,000 20,991,000 15,601,000 12,637,000 11,964,000 14,584,000 14,446,000 14,630,000 15,024,000 13,969,000 12,454,000 10,436,000 9,794,000 9,182,000 9,982,000 8,151,000 11,158,000 8,703,000 9,569,000 12,850,000 9,865,000 9,900,000 9,066,000 9,271,000 8,604,000 4,623,000 4,201,000 4,258,000 3,933,000 3,734,000 3,637,000 3,331,000 3,334,000 3,703,000 14,137,000 33,675,000 23,044,000 28,114,000 22,791,000 24,583,000  24,038,000 5,632,000 5,471,000    
        total liabilities
      		1,343,886,000 1,108,574,000 870,884,000 914,939,000 977,477,000 1,211,074,000 1,376,850,000 1,487,492,000 1,509,608,000 1,653,928,000 1,680,218,000 1,708,820,000 1,726,017,000 1,775,462,000 1,960,109,000 1,910,334,000 1,826,471,000 1,953,210,000 1,793,942,000 1,514,830,000 1,456,482,000 1,479,709,000 1,556,107,000 1,635,290,000 1,357,795,000 1,248,953,000 1,245,690,000 1,193,338,000 1,177,737,000 1,307,354,000 1,395,320,000 1,323,441,000 1,351,049,000 1,166,968,000 1,245,588,000 1,011,110,000 944,030,000 1,099,871,000 877,774,000 1,010,562,000 1,055,688,000 1,102,626,000 1,001,439,000 1,017,753,000 853,773,000 429,159,000 186,183,000 280,369,000 53,570,000 3,601,000 49,335,000 
        commitments and contingencies
      		                                                   
        stockholders' equity
      		                                                   
        common stock, par value 0.01 per share...
      		532,000 532,000 532,000 532,000 532,000 532,000 532,000 532,000 532,000 532,000 532,000 532,000 537,000 537,000 537,000 537,000 467,000 465,000 464,000 399,000 329,000 329,000 329,000 329,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 283,000 284,000 284,000  284,000 284,000 284,000 284,000 272,000 92,000 92,000 92,000 15,000 
        additional paid-in capital
      		821,724,000 820,827,000 819,934,000 818,910,000 817,973,000 816,923,000 815,802,000 814,620,000 813,468,000 812,184,000 811,147,000 810,161,000 813,748,000 812,788,000 812,050,000 811,411,000 707,579,000 703,950,000 701,370,000 598,936,000 497,803,000 497,421,000 497,054,000 496,689,000 423,619,000 423,137,000 422,658,000 422,231,000 421,739,000 421,415,000 421,086,000 420,871,000 420,637,000 420,428,000 420,251,000 420,154,000 420,056,000 419,946,000 420,013,000 421,006,000 420,758,000 420,543,000 420,182,000 419,930,000        
        accumulated earnings
      		-329,838,000 -311,791,000 -299,483,000 -295,771,000 -276,368,000 -277,360,000 -252,771,000 -233,082,000 -213,145,000 -187,020,000 -129,387,000 -120,489,000 -99,111,000 -73,326,000 -56,889,000 -38,337,000 -29,170,000 -28,631,000 -29,110,000 -23,625,000 -25,117,000 -28,401,000 -32,257,000 -30,953,000 2,437,000 2,324,000 2,816,000 2,588,000 3,565,000 2,460,000 827,000                     
        total stockholders' equity
      		492,418,000 509,568,000 520,983,000 523,699,000 542,144,000 540,132,000 563,753,000 582,263,000 601,089,000 625,849,000 682,958,000 691,191,000 718,303,000 747,540,000 767,077,000 786,000,000 689,334,000 678,628,000 672,743,000 575,973,000 473,015,000 469,349,000 465,126,000 466,065,000  425,744,000 425,757,000 425,102,000 425,587,000 424,158,000 422,196,000 420,714,000 419,170,000 420,500,000 416,982,000 417,890,000 419,029,000 418,260,000 407,291,000             
        total liabilities and stockholders' equity
      		1,836,304,000 1,618,142,000 1,391,867,000 1,438,638,000 1,519,621,000 1,751,206,000 1,940,603,000 2,069,755,000 2,110,697,000 2,279,777,000 2,363,176,000 2,400,011,000 2,444,320,000 2,523,002,000 2,727,186,000 2,696,334,000 2,515,805,000 2,631,838,000 2,466,685,000 2,090,803,000 1,929,497,000 1,949,058,000 2,021,233,000 2,101,355,000  1,674,697,000 1,671,447,000 1,618,440,000 1,603,324,000 1,731,512,000 1,817,516,000 1,744,155,000                    
        investment in available-for-sale debt securities, at fair value
      		   7,808,000 8,568,000 8,684,000 27,005,000 28,113,000 28,148,000 28,060,000 28,136,000 27,970,000 28,007,000 27,936,000 27,730,000                                     
        accumulated other comprehensive income
      		   28,000 7,000 37,000 190,000 193,000 234,000 153,000 666,000 987,000 3,129,000 7,541,000 11,379,000 12,389,000 10,458,000 2,844,000 19,000 263,000                                
        notes payable
      		       104,751,000 104,714,000 104,662,000 104,611,000 104,559,000 104,509,000 104,460,000 104,411,000  22,631,000 50,358,000 47,381,000 40,428,000 61,837,000 57,848,000 54,819,000  54,708,000 55,014,000 54,960,000                         
        loans held for sale, at fair value
      		         38,981,000   27,375,000          96,404,000                 94,050,000 131,962,000 146,324,000 24,712,000 55,928,000 1,045,000 24,465,000      
        real estate owned
      		        82,499,000 83,284,000 84,094,000        36,695,000 37,059,000 37,283,000 37,476,000 37,693,000 37,907,000 37,901,000 38,020,000 36,891,000 36,814,000                        
        secured borrowings
      		               22,635,000 22,612,000 22,589,000 59,962,000 59,845,000 59,790,000 54,617,000 47,533,000                             
        notes payable and secured borrowings
      		                       65,047,000                            
        total stockholders’ equity
      		                        426,339,000               407,573,000 405,099,000 403,069,000 401,039,000 403,835,000 404,088,000 410,647,000 394,876,000 163,584,000 166,683,000 167,658,000  
        total liabilities and stockholders’ equity
      		                        1,784,134,000                  1,402,478,000 1,421,588,000 1,257,861,000 839,806,000 581,059,000 443,953,000 220,253,000 171,259,000  
        accumulated deficit
      		                               -440,000 -1,750,000 -211,000 -3,552,000 -2,547,000 -1,310,000 -1,969,000 -13,005,000 -13,717,000 -15,943,000 -17,758,000 -19,427,000 -16,379,000 -15,865,000 -8,888,000 -9,401,000 -5,844,000    
        liabilities and equity
      		                                                   
        equity
      		                                                   
        non-controlling interests in consolidated vies
      		                                    10,644,000 47,008,000 47,006,000 84,051,000 84,051,000 84,086,000          
        total equity
      		                                419,170,000 420,500,000 416,982,000 417,890,000 429,673,000 465,268,000 454,297,000 491,624,000 489,150,000 487,155,000          
        total liabilities and equity
      		                                1,770,219,000 1,587,468,000 1,662,570,000 1,429,000,000 1,373,703,000 1,565,139,000 1,332,071,000 1,502,186,000 1,544,838,000 1,589,781,000          
        assets of discontinued operations
      		                                                   
        commercial mortgage-backed securitization debt
      		                                       61,856,000 83,288,000 83,288,000 219,043,000 395,027,000 395,027,000       
        liabilities of discontinued operations
      		                                                   
        assets of discontinued operations held for sale
      		                                      159,606,000             
        liabilities of discontinued operations held for sale
      		                                      77,496,000             
        mortgage servicing rights, at fair value
      		                                       60,148,000 60,077,000 58,525,000 59,614,000 58,558,000 60,132,000       
        warehouse lines of credit
      		                                       83,511,000 51,852,000 139,689,000 17,544,000 48,199,000  13,821,000      
        convertible notes
      		                                       68,863,000 68,696,000 68,541,000 68,240,000 68,088,000 67,947,000 67,674,000 67,535,000 67,411,000    
        allowance for loss sharing
      		                                       8,953,000 11,183,000 11,745,000 13,322,000 14,440,000 16,599,000 19,530,000      
        loans held for investment (679,113 and 848,224 related to consolidated
      		                                                   
        vies, respectively)
      		                                         1,304,821,000          
        other assets (3,579 and 3,438 of interest receivable related to consolidated vies, respectively; 18,352 of other receivables related to consolidated
      		                                                   
        vies as of december 31, 2014)
      		                                         40,826,000          
        march 31, 2015 and december 31, 2014, 28,584,095 and 28,586,915 shares issued and outstanding at march 31, 2015 and december 31, 2014, respectively
      		                                         284,000          
        liabilities and stockholders’ equity
      		                                                   
        stockholders’ equity
      		                                                   
        loans held for investment (493,783 and 493,783 related to
      		                                                   
        consolidated vie, respectively)
      		                                            1,110,357,000       
        other assets (2,267 and 2,552 of interest receivable related to
      		                                                   
        other liabilities (382 and 384 of interest payable related to
      		                                                   
        additional paid in capital
      		                                            419,669,000 419,251,000 404,005,000 169,336,000    
        mortgage servicing rights
      		                                             60,878,000      
        preferred stock, par value 0.01 per share...
      		                                                   
        accrued interest receivable
      		                                              3,312,000 2,464,000 871,000 580,000  
        deferred financing costs
      		                                              4,546,000 4,780,000 2,416,000 2,212,000 1,173,000 
        secured financing agreements
      		                                              101,285,000 200,050,000   47,289,000 
        derivative liability
      		                                               2,223,000    
        accounts payable and accrued expenses
      		                                              3,346,000 1,455,000    
        escrow liability
      		                                                1,922,000 1,334,000  
        accrued expenses
      		                                                812,000   
        refundable deposits
      		                                                175,000   
        interest payable
      		                                                31,000  71,000 
        additional paid in capital — common stock
      		                                                169,210,000 169,075,000 29,985,000 
        due to affiliates
      		                                                 890,000  
        accrued expenses and other liabilities
      		                                                 822,000 1,055,000 
        interest receivable
      		                                                  521,000 
        series a convertible preferred stock, par value 50,000 per share, 600 and 0 shares authorized, 114.4578 and 0 shares issued and outstanding at march 31, 2012 and december 31, 2011, respectively
      		                                                  6,295,000 
        stockholder’s equity
      		                                                   
        total stockholder’s equity
      		                                                  29,271,000 
        total liabilities and stockholder’s equity
      		                                                  84,901,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-03-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2018-03-31 2017-12-31 2017-09-30 2016-12-31 2016-09-30 2016-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 2012-06-30 2012-03-31 
                                              
          operating activities:
        		                                      
          net income
        		-9,605,000 -3,865,000 4,653,000 -11,035,000 9,345,000 -10,664,000 -5,881,000 -6,125,000 -12,323,000 -39,413,000 -6,439,000 2,910,000 644,000 10,030,000 16,201,000 17,153,000 15,740,000 14,928,000 9,768,000 -17,263,000 9,660,000 9,035,000 9,318,000 6,183,000 11,058,000 8,721,000 19,741,000 7,111,000 9,295,000 4,103,000 6,638,000 4,755,000 7,632,000 3,265,000 327,000 -554,000 -175,000 508,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                                      
          amortization of deferred financing costs
        		1,119,000 1,059,000 1,150,000 1,223,000 1,198,000 1,143,000 1,571,000 1,261,000 1,118,000 1,048,000 979,000 1,383,000 1,655,000 1,838,000 2,220,000 2,784,000 2,232,000 1,649,000 1,635,000 1,622,000 1,615,000 1,637,000 1,487,000 2,012,000 1,673,000 1,657,000 1,632,000 374,000 2,776,000 3,027,000 2,219,000 1,069,000 365,000 226,000 227,000 204,000 140,000 125,000 
          accretion of discounts, deferred loan origination fees and costs
        		-1,203,000 -1,086,000 -1,184,000 -714,000 -1,283,000 -1,335,000 -1,212,000 -1,222,000 -1,254,000 -1,270,000 -1,779,000 -2,469,000                           
          stock-based compensation
        		897,000 892,000 1,025,000 937,000 1,050,000 1,122,000 1,181,000 1,152,000 1,284,000 1,041,000 960,000 738,000 673,000 699,000 766,000 494,000 521,000 366,000 365,000 225,000 482,000 479,000 234,000 209,000 177,000 110,000 -67,000 70,000 199,000 252,000 261,000 264,000       
          depreciation and amortization of real estate owned
        		741,000 1,964,000 2,009,000 2,319,000 2,182,000 2,239,000 965,000 770,000 786,000 810,000                             
          provision for (reversal of) current expected credit losses
        		11,138,000 9,835,000 -2,190,000 -20,150,000 -5,340,000                                  
          realized losses on loans
        		3,340,000 0 1,643,000   15,712,000 5,766,000 16,387,000 45,726,000 0                             
          changes in operating assets and liabilities:
        		                                      
          loans held for sale
        		-60,544,000                                      
          other assets
        		-3,516,000 -712,000 -1,557,000 -1,451,000 1,561,000 -237,000 -197,000 -955,000 -493,000 -983,000 -8,617,000 -7,843,000 -7,901,000 -5,886,000 3,956,000 -1,817,000 -2,677,000 -4,613,000 -3,346,000 -1,343,000 -2,130,000 -1,202,000 194,000 -542,000 -286,000 310,000 25,000 21,464,000 18,217,000 -8,354,000 -1,127,000 -2,688,000 -2,902,000 -489,000 323,000    
          due to affiliate
        		24,000 99,000 -183,000 -49,000 404,000 -316,000 -420,000 245,000 146,000 43,000 -1,681,000 701,000 317,000 739,000 -333,000 209,000 169,000 -547,000 381,000 75,000 134,000  -97,000 61,000 -58,000 96,000 419,000 -163,000 28,000 -320,000 424,000 -246,000 1,395,000 121,000 122,000 480,000   
          other liabilities
        		1,001,000 -802,000 -1,529,000 800,000 -1,107,000 -1,909,000 -802,000 -472,000 -348,000 469,000 1,657,000 690,000 1,336,000 660,000 -1,524,000 784,000 -1,023,000 -298,000 -1,447,000 -420,000 -413,000 712,000 413,000 374,000 541,000 -338,000 3,923,000 -3,941,000 1,823,000 1,291,000 -2,782,000 845,000       
          net cash from operating activities
        		-56,608,000 4,627,000 3,837,000 4,880,000 8,010,000 7,072,000 8,432,000 8,667,000 11,378,000 10,087,000 11,256,000 15,090,000 12,915,000 12,937,000 16,215,000 18,070,000 9,924,000 8,581,000 5,896,000 8,267,000 7,576,000 8,541,000 9,695,000 7,380,000 10,852,000 8,353,000 -33,235,000 -92,134,000 125,554,000 29,222,000 -50,008,000 7,686,000  794,000 1,226,000    
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -24,000 -192,000 -52,000  0 0    
          free cash flows
        		-56,608,000 4,627,000 3,837,000 4,880,000 8,010,000 7,072,000 8,432,000 8,667,000 11,378,000 10,087,000 11,256,000 15,090,000 12,915,000 12,937,000 16,215,000 18,070,000 9,924,000 8,581,000 5,896,000 8,267,000 7,576,000 8,541,000 9,695,000 7,380,000 10,852,000 8,353,000 -33,235,000 -92,134,000 125,554,000 29,198,000 -50,200,000 7,634,000  794,000 1,226,000    
          investing activities:
        		                                      
          issuance of and fundings on loans held for investment
        		-199,126,000 -375,430,000 -94,695,000 -12,074,000 -7,011,000 -9,735,000 -11,263,000 -11,096,000 -12,003,000 -18,549,000 -18,378,000 -68,115,000 -60,870,000 -306,186,000 -217,549,000 -364,046,000 -219,205,000 -34,108,000 -157,072,000 -294,733,000 -258,004,000 -167,843,000 -77,260,000 -395,735,000 -82,721,000 -79,080,000 -586,256,000   -202,191,000 -120,158,000 -147,561,000 -202,483,000 -130,103,000 -56,299,000    
          principal collections and cost-recovery proceeds on loans held for investment
        		96,222,000 75,998,000 163,628,000 37,153,000 305,443,000 149,752,000 127,729,000 10,374,000 106,806,000                              
          receipt of origination and other loan fees
        		2,254,000 4,180,000 813,000 1,320,000 234,000 2,022,000 334,000 427,000 232,000                              
          principal repayment of available-for-sale debt securities
        		 0 7,797,000 782,000 88,000 18,222,000                                 
          purchases of capitalized additions to real estate owned
        		-534,000 -301,000 -393,000 -922,000 -15,000           -58,000  -6,000 -10,000 -227,000 -100,000 -1,334,000                 
          receipt (disbursement) of escrows and reserves for loans held for investment
        		11,409,000 714,000                                     
          net cash from investing activities
        		-89,775,000 -290,050,000 113,196,000 26,259,000 298,739,000 172,668,000 121,525,000 -295,000 134,016,000 85,847,000 70,058,000 257,127,000 12,246,000 -165,880,000 89,680,000 -124,606,000 -131,354,000 87,772,000 80,916,000 -273,951,000 -106,614,000 -536,000 3,713,000 -181,337,000 100,427,000 199,136,000 -276,053,000 -126,170,000 159,767,000 -11,486,000 -115,589,000 -66,519,000 -223,013,000 -116,522,000 -55,704,000    
          financing activities:
        		                                      
          proceeds from secured funding agreements
        		333,040,000 287,405,000 85,351,000 0 114,797,000 22,292,000 101,683,000 0 12,781,000 341,000 12,662,000 42,000,000 0 187,300,000 37,892,000 358,521,000 77,253,000 111,695,000 0 355,083,000 378,368,000 136,035,000 54,672,000 390,002,000 157,765,000 0 849,977,000 417,851,000 20,870,000 415,103,000 239,253,000 145,679,000       
          repayments of secured funding agreements
        		-9,121,000 -22,274,000 -134,148,000 -32,563,000 -28,860,000 -74,434,000 -87,010,000 -4,362,000 -22,299,000 -15,031,000 -19,740,000 -184,465,000 -5,363,000 -74,263,000 -137,917,000 -174,487,000 -483,223,000 -197,401,000 -113,722,000 -93,108,000 -269,809,000 -133,529,000 -83,178,000 -162,270,000 -237,274,000 -98,389,000 -572,669,000   -530,403,000 -123,504,000 -68,556,000       
          repayments of secured term loan
        		 -10,000,000 -10,000,000 -10,000,000 -10,000,000 0 -10,000,000         0 -50,000,000                      
          payment of secured funding costs
        		-1,998,000 -223,000 -299,000 -785,000 -1,924,000 -656,000 -465,000 -2,252,000 -370,000 -1,690,000 -297,000 -1,467,000 -1,337,000 -1,012,000 -651,000 -3,332,000 -7,962,000 -1,307,000 -1,388,000 -1,005,000 -607,000 -247,000 -322,000 -960,000 -1,531,000 -1,342,000 -2,763,000            
          repayments of debt of consolidated vies
        		-99,921,000 -17,838,000 -19,829,000 -14,385,000 -304,049,000 -119,186,000 -13,655,000 -6,829,000 -128,226,000 -12,031,000 -42,106,000 -45,108,000 -29,748,000   -80,264,000          -57,830,000 -47,164,000            
          dividends paid
        		-8,442,000 -8,366,000 -8,367,000 -8,354,000 -13,924,000 -13,809,000 -13,812,000 -13,798,000 -18,221,000 -18,081,000 -19,347,000 -19,196,000 -19,197,000 -16,740,000 -16,674,000 -16,523,000 -11,124,000 -11,072,000 -11,057,000 -9,565,000 -9,526,000 -9,527,000 -7,722,000 -7,717,000 -7,717,000 -7,406,000 -7,412,000   -7,151,000 -7,148,000 -7,127,000       
          net cash from financing activities
        		213,558,000 228,704,000 -87,292,000 -66,087,000 -243,960,000 -185,793,000 -128,259,000 -37,241,000 -156,335,000 -46,492,000 -68,828,000 -208,236,000 26,511,000 164,809,000 -142,751,000 141,364,000 144,598,000 -88,045,000 -88,702,000 334,926,000 98,342,000 -7,268,000 -36,550,000 174,055,000 -88,757,000 -201,987,000 344,745,000   -26,440,000 155,347,000 69,135,000 192,065,000 133,413,000 53,638,000 47,782,000 84,257,000 75,816,000 
          change in cash, cash equivalents and restricted cash
        		67,175,000 -56,719,000 29,741,000 -34,948,000 62,789,000 -6,053,000           23,168,000 8,308,000 -1,890,000 69,242,000 -696,000 737,000 -23,142,000                
          cash, cash equivalents and restricted cash, beginning of period
        		67,157,000 0 0 0 66,294,000 0           74,776,000 0 0 5,635,000 0 0 28,722,000                
          cash, cash equivalents and restricted cash, end of period
        		134,332,000 -56,719,000 29,741,000 -34,948,000 129,083,000 -6,053,000           97,944,000 8,308,000 -1,890,000 74,877,000 -696,000 737,000 5,580,000                
          reconciliation of cash, cash equivalents and restricted cash:
        		                                      
          cash and cash equivalents
        		86,163,000  -5,116,000 -35,511,000 125,496,000 -5,082,000                                 
          restricted cash
        		48,169,000  34,857,000 563,000 3,587,000 -971,000                  0 0 4,000 61,000 -37,330,000 38,680,000 -284,000 -338,000 -797,000       
          total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows
        		134,332,000  29,741,000 -34,948,000 129,083,000 -6,053,000                                 
          supplemental disclosure of noncash investing and financing activities:
        		                                      
          dividends declared, but not yet paid
        		8,442,000  -3,000 15,000 8,353,000 115,000 -3,000 10,000 13,802,000 138,000                             
          other receivables related to consolidated vies
        		    4,262,000    6,539,000 -67,416,000                             
          change in unrealized losses on loans held for sale
        		     0 0 0 -995,000                              
          amortization of derivative financial instruments
        		         -105,000 -456,000 -422,000 -354,000                          
          realized loss on sale of real estate owned
        		                                      
          proceeds from sale of loans held for sale
        		     0 0 0 38,981,000 0 9,825,000                            
          proceeds from sale of real estate owned
        		           0 0 0 38,227,000                        
          restricted cash assumed from acquisition of real estate owned
        		     0                                 
          repayments of notes payable
        		     0      0 0 -22,835,000 -28,275,000 0 -27,880,000                      
          repurchase of common stock
        		         0                0 0            
          assumption of real estate owned
        		                                      
          assumption of other assets related to real estate owned
        		                                      
          assumption of other liabilities related to real estate owned
        		                                      
          transfer of senior mortgage loans to real estate owned
        		                                      
          purchases of available-for-sale debt securities
        		           0                           
          amounts received under derivative financial instruments
        		                                      
          proceeds from notes payable
        		           0    2,861,000 6,206,000    0 0                 
          repayments of secured borrowings
        		           0                           
          proceeds from sale of common stock
        		           0 0 103,393,000 2,874,000 2,119,000 100,870,000 0 0 73,232,000                   
          payment of offering costs
        		           0 -129,000   -31,000 -13,000 0 -35,000 -266,000          0 0 -113,000 -57,000      
          supplemental information:
        		                                      
          interest paid during the period
        		                             5,114,000 6,977,000 3,837,000 1,343,000 4,060,000 1,128,000 163,000 283,000 143,000 
          income taxes paid during the period
        		                             69,000 128,000 172,000       
          provision for current expected credit losses
        		      7,461,000 -2,374,000 -22,269,000 47,452,000 21,019,000 19,402,000 19,485,000 7,768,000 -594,000 766,000 -3,240,000 -1,048,000 -4,006,000 27,117,000                   
          change in cash and cash equivalents
        		       -28,869,000 -10,941,000 49,442,000 12,486,000 63,981,000 51,672,000 11,866,000 -36,856,000 34,828,000        98,000 22,522,000 5,502,000 35,457,000   -8,704,000 -10,250,000 10,302,000 -27,682,000 17,685,000 -840,000 -63,472,000 82,869,000 3,346,000 
          cash and cash equivalents, beginning of period
        		       0 110,459,000 0 141,278,000 0 0 0 50,615,000 0             16,551,000 0 0 20,100,000 0 0 23,390,000 0 0 1,240,000 
          cash and cash equivalents, end of period
        		       -28,869,000 99,518,000 49,442,000 153,764,000 63,981,000 51,672,000 11,866,000 13,759,000 34,828,000        98,000 22,522,000 5,502,000 35,457,000 -2,694,000 9,005,000 -8,704,000 -10,250,000 30,402,000 -27,682,000 17,685,000 22,550,000 -63,472,000 82,869,000 4,586,000 
          transfer of senior mortgage loan to real estate owned
        		                                      
          unrealized losses on loans held for sale
        		                                      
          gain on sale of real estate owned
        		           0 0 0 -2,197,000                        
          receipt of origination fees
        		         227,000 413,000 1,154,000 565,000 4,366,000 2,428,000 2,996,000 680,000 90,000 350,000 3,538,000 2,554,000 1,824,000 1,040,000 3,185,000 1,429,000 804,000 5,399,000 212,000 398,000 2,594,000 1,244,000 897,000 2,030,000 1,125,000 539,000   880,000 
          proceeds from secured term loan
        		                         0             
          proceeds from issuance of debt of consolidated vies
        		               0 540,471,000    0 0  0 0              
          principal repayment of loans held for investment
        		          78,198,000 324,088,000 100,423,000 133,855,000 266,574,000 235,952,000 87,321,000 25,199,000 237,648,000 17,471,000 148,936,000 166,817,000 79,933,000 137,313,000 181,719,000 277,412,000 214,825,000 11,353,000 218,094,000 190,350,000   34,708,000 13,456,000 56,000 58,000   
          realized losses on loans sold
        		          5,613,000                            
          depreciation of real estate owned
        		               151,000 224,000 223,000 224,000 221,000 219,000 206,000                 
          proceeds from secured borrowings
        		                 7,040,000                     
          payments under derivative financial instruments
        		            0   550,000 -150,000                      
          accretion of deferred loan origination fees and costs
        		             -2,658,000 -2,280,000 -2,454,000 -2,022,000 -2,089,000 -1,676,000 -1,967,000 -1,991,000 -1,790,000 -1,854,000 -1,685,000 -2,253,000 -2,207,000 -1,704,000   -1,099,000 -1,001,000 -592,000 -586,000 -529,000 -739,000    
          proceeds from notes payable and secured borrowings
        		                   10,555,000                   
          early extinguishment of debt costs
        		                                      
          proceeds from sale of mortgage loans held for sale
        		                                      
          contributions from non-controlling interests
        		                       0 0 0 7,000 -5,681,000 5,685,000          
          distributions to non-controlling interests
        		                       0 0 -37,020,000 -1,304,000            
          adjustments to reconcile net income to net cash from operating activities
        		                                      
          change in mortgage banking activities
        		                         0 -3,942,000   1,234,000 -3,326,000 46,000       
          change in fair value of mortgage servicing rights
        		                         0 2,562,000 714,000 3,181,000 1,798,000 1,888,000 1,847,000       
          provision for loss sharing
        		                         0 143,000   -285,000 -1,180,000 119,000       
          cash paid to settle loss sharing obligations
        		                         0    -820,000         
          originations of mortgage loans held for sale
        		                         0 -356,788,000   -68,354,000 -98,632,000 -52,794,000       
          sale of mortgage loans held for sale to third parties
        		                         0 310,215,000 45,105,000 216,394,000 96,955,000 46,925,000 56,115,000       
          gain on sale of discontinued operations
        		                         0             
          depreciation expense
        		                         0 55,000 58,000 54,000 36,000 33,000 29,000       
          deferred tax expense
        		                         0 1,367,000            
          proceeds from sale of discontinued operations, net of cash and restricted cash sold
        		                                      
          purchases of other assets
        		                         0 -2,000            
          proceeds from warehouse lines of credit
        		                         0 530,679,000 157,014,000 175,689,000 69,664,000 94,519,000 42,880,000       
          repayments of warehouse lines of credit
        		                         0 -484,606,000   -100,319,000 -46,320,000 -42,880,000       
          cash, cash equivalents and restricted cash of continuing operations, beginning of period
        		                                      
          cash, cash equivalents and restricted cash of discontinued operations, beginning of period
        		                                      
          cash, cash equivalents and restricted cash of continuing operations, end of period
        		                                      
          cash, cash equivalents and restricted cash of discontinued operations, end of period
        		                                      
          proceeds from sale of discontinued operations, net of cash sold
        		                         0             
          repayment of convertible debt
        		                                      
          cash and cash equivalents of continuing operations, beginning of period
        		                       0 0 0 0            
          cash and cash equivalents of discontinued operations, beginning of period
        		                         0             
          cash and cash equivalents of continuing operations, end of period
        		                       98,000 22,522,000 5,502,000 36,459,000            
          cash and cash equivalents of discontinued operations, end of period
        		                                      
          notes receivable related to consolidated vies
        		                                      
          proceeds from sale of a mortgage loan held for sale
        		                             0         
          payments for acquisition of mortgage servicing rights
        		                                      
          cash and cash equivalents of discontinued operations held for sale, beginning of period
        		                                      
          cash and cash equivalents of discontinued operations held for sale, end of period
        		                                      
          amortization of convertible notes issuance costs
        		                            236,000 246,000 229,000 214,000 225,000      
          accretion of convertible notes
        		                            146,000 152,000 141,000 132,000       
          purchases of property and equipment
        		                             -24,000 -192,000 -52,000       
          secured funding costs
        		                             -6,053,000 -1,453,000 -748,000 -827,000 -192,000 -10,000    
          changes in fair value of derivatives
        		                                      
          gain on acquisition
        		                                      
          acquisition of acre capital, net of cash acquired
        		                                      
          payments for acquisition of intangible assets
        		                                      
          proceeds from issuance of common stock
        		                                      
          dividends payable
        		                             0 4,000 7,147,000 297,000 4,505,000 2,317,000 1,000 53,000 502,000 
          deferred financing and offering costs
        		                                16,000     332,000 
          issuance of common stock for acquisition of acre capital
        		                                      
          fair value of assets acquired from acre capital, net of cash acquired
        		                                      
          fair value of liabilities assumed from acre capital
        		                                      
          deferred tax benefit
        		                              503,000 -632,000       
          payment of acquisition deposit
        		                                      
          certificates receivable related to consolidated vie
        		                                      
          adjustments to reconcile net income to net cash
        		                                      
          provided by operating activities:
        		                                      
          sale of a mortgage loan held for sale
        		                               80,197,000       
          convertible notes issuance costs
        		                                  171,000    
          gains attributable to fair value of future servicing rights
        		                                      
          change in fair value of interest rate lock commitments
        		                                      
          change in fair value of forward sale commitments
        		                                      
          sale of loans to third parties
        		                                      
          stock based compensation
        		                                139,000 99,000 136,000 135,000   
          accounts payable and accrued expenses
        		                                2,749,000 274,000 1,100,000 -19,000 387,000 18,000 
          net cash from (used in) operating activities
        		                                      
          proceeds from secured funding arrangements
        		                                231,734,000 39,371,000 55,794,000    
          repayments of secured funding arrangements
        		                                -39,000,000      
          proceeds from issuance of series a convertible preferred stock
        		                                   0   
          redemption of series a convertible preferred stock
        		                                      
          common dividend payment
        		                                -6,822,000 -2,317,000 -2,317,000    
          series a preferred dividend
        		                                      
          fair value of assets acquired from acre capital
        		                                      
          adjustments to reconcile net income to cash from operating activities:
        		                                      
          unrealized gain on derivative
        		                                      
          interest receivable
        		                                 -848,000 -718,000    
          refundable deposits
        		                                 440,000 50,000    
          payment of furniture, fixtures and equipment
        		                                      
          pre-ipo common dividend payment
        		                                      
          supplemental disclosure of noncash financing activities:
        		                                      
          unrealized loss on derivative
        		                                  398,000    
          interest payable
        		                                     71,000 
          accretion of redemption premium
        		                                     572,000 
          adjustments to reconcile net income to cash provided by operating activities:
        		                                      
          accrued financing and offering costs
        		                                   -45,000   
          adjustments to reconcile net income to cash used in operating activities:
        		                                      
          accretion of deferred loan origination fees
        		                                      
          proceeds from secured financing arrangements
        		                                    -12,000 47,289,000 
          repayments of secured financing arrangements
        		                                      
          secured financing costs
        		                                      
          proceeds for issuance of common stock
        		                                    142,450,000 23,400,000 
          amortization of deferred loan origination fees
        		                                      
          repayment of loans held for investment
        		                                     18,000 
          proceeds for issuance of series a convertible preferred stock
        		                                     5,723,000 
          secured financing and offering costs