falsedesktopNYMT2020-09-30000127368520000091{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Title of Each Class\tTrading Symbols)\tName of Each Exchange on Which Registered\t\nCommon Stock par value $0.01 per share\tNYMT\tNASDAQ\tStock Market\n7.75% Series B Cumulative Redeemable Preferred Stock par value $0.01 per share $25.00 Liquidation Preference\tNYMTP\tNASDAQ\tStock Market\n7.875% Series C Cumulative Redeemable Preferred Stock par value $0.01 per share $25.00 Liquidation Preference\tNYMTO\tNASDAQ\tStock Market\n8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock par value $0.01 per share $25.00 Liquidation Preference\tNYMTN\tNASDAQ\tStock Market\n7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock par value $0.01 per share $25.00 Liquidation Preference\tNYMTM\tNASDAQ\tStock Market\n", "q10k_tbl_1": "PART I. Financial Information\t\t\n\tItem 1. Condensed Consolidated Financial Statements\t\n\tCondensed Consolidated Balance Sheets as of September 30 2020 (Unaudited) and December 31 2019\t4\n\tUnaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30 2020 and 2019\t5\n\tUnaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30 2020 and 2019\t6\n\tUnaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30 2020 and 2019\t7\n\tUnaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30 2020 and 2019\t9\n\tUnaudited Notes to the Condensed Consolidated Financial Statements\t11\n\tNote 1. Organization\t11\n\tNote 2. Summary of Significant Accounting Policies\t12\n\tNote 3. Investment Securities Available For Sale at Fair Value\t19\n\tNote 4. Residential Loans at Fair Value\t23\n\tNote 5. Residential Loans Net\t27\n\tNote 6. Consolidated K-Series\t30\n\tNote 7. Investments in Unconsolidated Entities\t32\n\tNote 8. Preferred Equity and Mezzanine Loan Investments\t35\n\tNote 9. Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE)\t36\n\tNote 10. Derivative Instruments and Hedging Activities\t40\n\tNote 11. Repurchase Agreements\t42\n\tNote 12. Debt\t44\n\tNote 13. Commitments and Contingencies\t46\n\tNote 14. Fair Value of Financial Instruments\t47\n\tNote 15. Stockholders' Equity\t57\n\tNote 16. Earnings (Loss) Per Common Share\t61\n\tNote 17. Stock Based Compensation\t63\n\tNote 18. Income Taxes\t67\n\tNote 19. Subsequent Events\t69\n\tItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t70\n\tItem 3. Quantitative and Qualitative Disclosures about Market Risk\t116\n\tItem 4. Controls and Procedures\t122\nPART II. OTHER INFORMATION\t\t\n\tItem 1A. Risk Factors\t123\n\tItem 6. Exhibits\t124\nSIGNATURES\t\t126\n", "q10k_tbl_2": "\tSeptember 30 2020\tDecember 31 2019\n\t(unaudited)\t\nASSETS\t\t\nInvestment securities available for sale at fair value\t603697\t2006140\nResidential loans at fair value\t2822789\t2758640\nResidential loans net\t0\t202756\nInvestments in unconsolidated entities\t218706\t189965\nPreferred equity and mezzanine loan investments\t183154\t180045\nMulti-family loans held in securitization trusts at fair value\t0\t17816746\nDerivative assets\t0\t15878\nCash and cash equivalents\t649822\t118763\nGoodwill\t0\t25222\nReceivables and other assets\t142945\t169214\nTotal Assets (1)\t4621113\t23483369\nLIABILITIES AND STOCKHOLDERS' EQUITY\t\t\nLiabilities:\t\t\nRepurchase agreements\t672519\t3105416\nSecuritized debt\t88791\t0\nMulti-family collateralized debt obligations at fair value\t0\t16724451\nResidential collateralized debt obligations at fair value\t1077980\t1052829\nResidential collateralized debt obligations\t268820\t40429\nConvertible notes\t134720\t132955\nSubordinated debentures\t45000\t45000\nAccrued expenses and other liabilities\t79900\t177260\nTotal liabilities (1)\t2367730\t21278340\nCommitments and Contingencies\t\t\nStockholders' Equity:\t\t\nPreferred stock par value $0.01 per share 30900000 shares authorized 20872888 shares issued and outstanding ($521822 aggregate liquidation preference)\t504765\t504765\nCommon stock par value $0.01 per share 800000000 shares authorized 377744476 and 291371039 shares issued and outstanding respectively\t3777\t2914\nAdditional paid-in capital\t2340395\t1821785\nAccumulated other comprehensive (loss) income\t(11938)\t25132\nAccumulated deficit\t(583616)\t(148863)\nCompany's stockholders' equity\t2253383\t2205733\nNon-controlling interest in consolidated variable interest entities\t0\t(704)\nTotal equity\t2253383\t2205029\nTotal Liabilities and Stockholders' Equity\t4621113\t23483369\n", "q10k_tbl_3": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nINTEREST INCOME:\t\t\t\t\nInvestment securities and other interest earning assets\t9354\t17503\t41801\t48173\nResidential loans\t30704\t16776\t94424\t46266\nPreferred equity and mezzanine loan investments\t5300\t5505\t15875\t15660\nMulti-family loans held in securitization trusts\t0\t139818\t151841\t384743\nTotal interest income\t45358\t179602\t303941\t494842\nINTEREST EXPENSE:\t\t\t\t\nRepurchase agreements and other interest bearing liabilities\t5341\t23540\t34321\t66749\nResidential collateralized debt obligations\t9722\t338\t26782\t1162\nMulti-family collateralized debt obligations\t0\t120329\t129762\t332041\nConvertible notes\t2759\t2713\t8234\t8097\nSubordinated debentures\t483\t711\t1714\t2185\nSecuritized debt\t1524\t0\t1994\t742\nTotal interest expense\t19829\t147631\t202807\t410976\nNET INTEREST INCOME\t25529\t31971\t101134\t83866\nNON-INTEREST INCOME (LOSS):\t\t\t\t\nRecovery of loan losses\t0\t244\t0\t2605\nRealized (losses) gains net\t(1067)\t6102\t(149919)\t32556\nRealized loss on de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations net\t0\t0\t(54118)\t0\nUnrealized gains (losses) net\t81198\t11112\t(212711)\t13898\nImpairment of goodwill\t0\t0\t(25222)\t0\nLoss on extinguishment of debt\t0\t0\t0\t(2857)\nOther income\t10397\t3938\t14910\t14620\nTotal non-interest income (loss)\t90528\t21396\t(427060)\t60822\nGENERAL ADMINISTRATIVE AND OPERATING EXPENSES:\t\t\t\t\nGeneral and administrative expenses\t10529\t8314\t33157\t27039\nOperating expenses\t2895\t3974\t8225\t10287\nTotal general administrative and operating expenses\t13424\t12288\t41382\t37326\nINCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES\t102633\t41079\t(367308)\t107362\nIncome tax (benefit) expense\t(772)\t(187)\t917\t(247)\nNET INCOME (LOSS)\t103405\t41266\t(368225)\t107609\nNet (income) loss attributable to non-controlling interest in consolidated variable interest entities\t(1764)\t113\t(704)\t645\nNET INCOME (LOSS) ATTRIBUTABLE TO COMPANY\t101641\t41379\t(368929)\t108254\nPreferred stock dividends\t(10297)\t(6544)\t(30890)\t(18726)\nNET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS\t91344\t34835\t(399819)\t89528\nBasic earnings (loss) per common share\t0.24\t0.15\t(1.08)\t0.44\nDiluted earnings (loss) per common share\t0.23\t0.15\t(1.08)\t0.43\nWeighted average shares outstanding-basic\t377744\t234043\t368740\t203270\nWeighted average shares outstanding-diluted\t399709\t255537\t368740\t224745\n", "q10k_tbl_4": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS\t91344\t34835\t(399819)\t89528\nOTHER COMPREHENSIVE INCOME (LOSS)\t\t\t\t\nIncrease (decrease) in fair value of available for sale securities\t12645\t15356\t(44408)\t62160\nReclassification adjustment for net loss (gain) included in net income (loss)\t9845\t(4444)\t7338\t(18109)\nTOTAL OTHER COMPREHENSIVE INCOME (LOSS)\t22490\t10912\t(37070)\t44051\nCOMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS\t113834\t45747\t(436889)\t133579\n", "q10k_tbl_5": "For the Three Months Ended\t\t\t\t\t\t\t\t\n\tCommon Stock\tPreferred Stock\tAdditional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive (Loss) Income\tTotal Company Stockholders' Equity\tNon-Controlling Interest in Consolidated VIE\tTotal\nBalance June 30 2020\t3775\t504765\t2337222\t(646629)\t(34428)\t2164705\t(1764)\t2162941\nNet income\t0\t0\t0\t101641\t0\t101641\t1764\t103405\nStock based compensation expense net\t2\t0\t3173\t0\t0\t3175\t0\t3175\nDividends declared on common stock\t0\t0\t0\t(28331)\t0\t(28331)\t0\t(28331)\nDividends declared on preferred stock\t0\t0\t0\t(10297)\t0\t(10297)\t0\t(10297)\nReclassification adjustment for net loss included in net income\t0\t0\t0\t0\t9845\t9845\t0\t9845\nIncrease in fair value of available for sale securities\t0\t0\t0\t0\t12645\t12645\t0\t12645\nBalance September 30 2020\t3777\t504765\t2340395\t(583616)\t(11938)\t2253383\t0\t2253383\n", "q10k_tbl_6": "Balance June 30 2019\t2109\t305842\t1337330\t(128207)\t11004\t1528078\t(396)\t1527682\nNet income (loss)\t0\t0\t0\t41379\t0\t41379\t(113)\t41266\nCommon stock issuance net\t517\t0\t310043\t0\t0\t310560\t0\t310560\nPreferred stock issuance net\t0\t14359\t0\t0\t0\t14359\t0\t14359\nStock based compensation expense net\t0\t0\t1288\t0\t0\t1288\t0\t1288\nDividends declared on common stock\t0\t0\t0\t(52524)\t0\t(52524)\t0\t(52524)\nDividends declared on preferred stock\t0\t0\t0\t(6544)\t0\t(6544)\t0\t(6544)\nReclassification adjustment for net gain included in net income\t0\t0\t0\t0\t(4444)\t(4444)\t0\t(4444)\nIncrease in fair value of available for sale securities\t0\t0\t0\t0\t15356\t15356\t0\t15356\nBalance September 30 2019\t2626\t320201\t1648661\t(145896)\t21916\t1847508\t(509)\t1846999\n", "q10k_tbl_7": "For the Nine Months Ended\t\t\t\t\t\t\t\t\n\tCommon Stock\tPreferred Stock\tAdditional Paid-In Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Income (Loss)\tTotal Company Stockholders' Equity\tNon-Controlling Interest in Consolidated VIE\tTotal\nBalance December 31 2019\t2914\t504765\t1821785\t(148863)\t25132\t2205733\t(704)\t2205029\nCumulative-effect adjustment for implementation of fair value option\t0\t0\t0\t12284\t0\t12284\t0\t12284\nNet (loss) income\t0\t0\t0\t(368929)\t0\t(368929)\t704\t(368225)\nCommon stock issuance net\t851\t0\t511055\t0\t0\t511906\t0\t511906\nStock based compensation expense net\t12\t0\t7555\t0\t0\t7567\t0\t7567\nDividends declared on common stock\t0\t0\t0\t(47218)\t0\t(47218)\t0\t(47218)\nDividends declared on preferred stock\t0\t0\t0\t(30890)\t0\t(30890)\t0\t(30890)\nReclassification adjustment for net loss included in net loss\t0\t0\t0\t0\t7338\t7338\t0\t7338\nDecrease in fair value of available for sale securities\t0\t0\t0\t0\t(44408)\t(44408)\t0\t(44408)\nBalance September 30 2020\t3777\t504765\t2340395\t(583616)\t(11938)\t2253383\t0\t2253383\n", "q10k_tbl_8": "Balance December 31 2018\t1556\t289755\t1013391\t(103178)\t(22135)\t1179389\t904\t1180293\nNet income (loss)\t0\t0\t0\t108254\t0\t108254\t(645)\t107609\nCommon stock issuance net\t1065\t0\t631196\t0\t0\t632261\t0\t632261\nPreferred stock issuance net\t0\t30446\t0\t0\t0\t30446\t0\t30446\nStock based compensation expense net\t5\t0\t4074\t0\t0\t4079\t0\t4079\nDividends declared on common stock\t0\t0\t0\t(132246)\t0\t(132246)\t0\t(132246)\nDividends declared on preferred stock\t0\t0\t0\t(18726)\t0\t(18726)\t0\t(18726)\nReclassification adjustment for net gain included in net income\t0\t0\t0\t0\t(18109)\t(18109)\t0\t(18109)\nIncrease in fair value of available for sale securities\t0\t0\t0\t0\t62160\t62160\t0\t62160\nDecrease in non-controlling interest related to distributions from and de-consolidation of variable interest entities\t0\t0\t0\t0\t0\t0\t(768)\t(768)\nBalance September 30 2019\t2626\t320201\t1648661\t(145896)\t21916\t1847508\t(509)\t1846999\n", "q10k_tbl_9": "\tFor the Nine Months Ended September 30\t\n\t2020\t2019\nCash Flows from Operating Activities:\t\t\nNet (loss) income\t(368225)\t107609\nAdjustments to reconcile net (loss) income to net cash provided by operating activities:\t\t\nNet amortization (accretion)\t3675\t(35948)\nRealized losses (gains) net\t149919\t(32556)\nRealized loss on de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations net\t54118\t0\nUnrealized losses (gains) net\t212711\t(13898)\nImpairment of goodwill\t25222\t0\nGain on sale of real estate held for sale in consolidated variable interest entities\t0\t(1580)\nImpairment of real estate under development in consolidated variable interest entities\t1754\t1660\nLoss on extinguishment of debt\t0\t2857\nRecovery of loan losses\t0\t(2605)\nIncome from unconsolidated entity preferred equity and mezzanine loan investments\t(30963)\t(31670)\nDistributions of income from unconsolidated entity preferred equity and mezzanine loan investments\t17285\t18861\nStock based compensation expense net\t7567\t4079\nChanges in operating assets and liabilities:\t\t\nReceivables and other assets\t70863\t(21393)\nAccrued expenses and other liabilities\t(67334)\t30962\nNet cash provided by operating activities\t76592\t26378\nCash Flows from Investing Activities:\t\t\nProceeds from sales of investment securities\t1815369\t97951\nPrincipal paydowns on investment securities available for sale\t162277\t135956\nPurchases of investment securities\t(448093)\t(563441)\nPrincipal repayments and refinancing of residential loans\t307522\t119325\nProceeds from sales of residential loans\t93755\t71969\nPurchases of residential loans\t(249312)\t(460167)\nPrincipal repayments received on preferred equity and mezzanine loan investments\t11243\t37885\nReturn of capital from unconsolidated entity investments\t17432\t13378\nFunding of preferred equity equity and mezzanine loan investments\t(49663)\t(147383)\nProceeds from sales resulting in de-consolidation of multi-family loans held in securitization trusts and multi-family collateralized debt obligations net\t555218\t0\nPrincipal repayments received on multi-family loans held in securitization trusts\t239796\t368811\nPurchases of investments held in multi-family securitization trusts\t0\t(162081)\nNet payments made on other derivative instruments settled during the period\t(28233)\t(52598)\nProceeds from sale of real estate owned\t3791\t2035\nNet proceeds from sale of real estate held for sale in consolidated variable interest entities\t0\t3587\nCapital expenditures on real estate held for sale in consolidated variable interest entities\t0\t(128)\nPurchases of other assets\t(431)\t(939)\nDeposit for investment in a residential securitization\t0\t(66000)\nNet cash provided by (used in) investing activities\t2430671\t(601840)\nCash Flows from Financing Activities:\t\t\nNet (payments made on) proceeds from repurchase agreements\t(2434447)\t427077\nProceeds from issuance of securitized debt net\t108980\t0\nProceeds from issuance of collateralized debt obligations net\t241072\t0\nCommon stock issuance net\t511924\t632248\nPreferred stock issuance net\t0\t30490\nDividends paid on common stock\t(77161)\t(110839)\nDividends paid on preferred stock\t(30768)\t(18107)\nPayments made on mortgages and notes payable in consolidated variable interest entities\t0\t(3087)\nPayments made on residential collateralized debt obligations\t(76030)\t(10963)\nPayments made on multi-family collateralized debt obligations\t(147376)\t(368107)\nPayments made on and extinguishment of securitized debt\t(20445)\t(45557)\nNet cash (used in) provided by financing activities\t(1924251)\t533155\n", "q10k_tbl_10": "Net Increase (Decrease) in Cash Cash Equivalents and Restricted Cash\t583012\t(42307)\nCash Cash Equivalents and Restricted Cash - Beginning of Period\t121612\t109145\nCash Cash Equivalents and Restricted Cash - End of Period\t704624\t66838\nSupplemental Disclosure:\t\t\nCash paid for interest\t277087\t456242\nCash paid for income taxes\t1521\t21\nNon-Cash Investment Activities:\t\t\nDe-consolidation of multi-family loans held in securitization trusts\t17381483\t0\nDe-consolidation of multi-family collateralized debt obligations\t16612093\t0\nConsolidation of multi-family loans held in securitization trusts\t0\t3795606\nConsolidation of multi-family collateralized debt obligations\t0\t3633525\nTransfer from residential loans to real estate owned\t6558\t4529\nNon-Cash Financing Activities:\t\t\nDividends declared on common stock to be paid in subsequent period\t28331\t52524\nDividends declared on preferred stock to be paid in subsequent period\t10297\t6544\nMortgages and notes payable assumed by purchaser of real estate held for sale in consolidated variable entities\t0\t27260\nCash Cash Equivalents and Restricted Cash Reconciliation:\t\t\nCash and cash equivalents\t649822\t65906\nRestricted cash included in receivables and other assets\t54802\t932\nTotal cash cash equivalents and restricted cash\t704624\t66838\n", "q10k_tbl_11": "\tDecember 31 2019\tTransition Adjustment\tJanuary 1 2020\nAssets\t\t\t\nResidential loans net\t202756\t5715\t208471\nInvestments in unconsolidated entities\t106083\t1394\t107477\nPreferred equity and mezzanine loan investments\t180045\t2420\t182465\nReceivables and other assets\t865\t2755\t3620\nTotal Assets\t489749\t12284\t502033\nStockholders' Equity\t\t\t\nAccumulated deficit\t(148863)\t12284\t(136579)\nTotal Stockholders' Equity\t(148863)\t12284\t(136579)\n", "q10k_tbl_12": "\tSeptember 30 2020\t\t\t\t\t\t\tDecember 31 2019\t\t\t\t\n\tAmortized Cost\t\tUnrealized\t\t\tFair Value\t\tAmortized Cost\t\tUnrealized\t\tFair Value\n\t\tGains\t\tLosses\t\t\tGains\t\tLosses\t\nFair Value Option\t\t\t\t\t\t\t\t\t\t\t\t\nAgency RMBS:\t\t\t\t\t\t\t\t\t\t\t\t\nAgency Fixed-Rate\t0\t\t0\t\t0\t0\t\t21033\t\t0\t(55)\t20978\nTotal Agency RMBS\t0\t\t0\t\t0\t0\t\t21033\t\t0\t(55)\t20978\nAgency CMBS\t0\t\t0\t\t0\t0\t\t31076\t\t0\t(395)\t30681\nTotal Agency\t0\t\t0\t\t0\t0\t\t52109\t\t0\t(450)\t51659\nNon-Agency RMBS (1)\t108134\t\t153\t\t(11884)\t96403\t\t122628\t\t2435\t(1248)\t123815\nCMBS (2)\t141282\t\t3225\t\t(5619)\t138888\t\t20096\t\t563\t(19)\t20640\nABS\t39519\t\t5488\t\t0\t45007\t\t49902\t\t0\t(688)\t49214\nTotal investment securities available for sale - fair value option\t288935\t\t8866\t\t(17503)\t280298\t\t244735\t\t2998\t(2405)\t245328\nCECL Securities\t\t\t\t\t\t\t\t\t\t\t\t\nAgency RMBS:\t\t\t\t\t\t\t\t\t\t\t\t\nAgency ARMs (3)\t0\t\t0\t\t0\t0\t\t55740\t\t13\t(1347)\t54406\nAgency Fixed-Rate\t0\t\t0\t\t0\t0\t\t846203\t\t7397\t(6107)\t847493\nTotal Agency RMBS\t0\t\t0\t\t0\t0\t\t901943\t\t7410\t(7454)\t901899\nAgency CMBS\t0\t\t0\t\t0\t0\t\t20258\t\t19\t0\t20277\nTotal Agency\t0\t\t0\t\t0\t0\t\t922201\t\t7429\t(7454)\t922176\nNon-Agency RMBS (4)\t291925\t\t425\t\t(12988)\t279362\t\t578955\t\t12557\t(13)\t591499\nCMBS\t43413\t\t1260\t\t(636)\t44037\t\t234524\t\t12737\t(124)\t247137\nTotal investment securities available for sale - CECL Securities\t335338\t\t1685\t\t(13624)\t323399\t\t1735680\t\t32723\t(7591)\t1760812\nTotal\t624273\t\t10551\t\t(31127)\t603697\t\t1980415\t\t35721\t(9996)\t2006140\n", "q10k_tbl_13": "\tThree Months Ended September 30 2020\t\t\t\n\tSales Proceeds\tRealized Gains\tRealized Losses\tNet Realized Gains (Losses)\nNon-Agency RMBS (1)\t259493\t141\t(8860)\t(8719)\nCMBS\t110680\t6849\t(705)\t6144\nTotal\t370173\t6990\t(9565)\t(2575)\n", "q10k_tbl_14": "\tThree Months Ended September 30 2019\t\t\t\n\tSales Proceeds\tRealized Gains\tRealized Losses\tNet Realized Gains (Losses)\nNon-Agency RMBS\t1021\t33\t0\t33\nCMBS\t40161\t4980\t0\t4980\nTotal\t41182\t5013\t0\t5013\n", "q10k_tbl_15": "\tNine Months Ended September 30 2020\t\t\t\n\tSales Proceeds\tRealized Gains\tRealized Losses\tNet Realized Gains (Losses)\nAgency RMBS:\t\t\t\t\nAgency ARMs\t49892\t44\t(4157)\t(4113)\nAgency Fixed-Rate (1)\t943074\t5358\t(11697)\t(6339)\nTotal Agency RMBS\t992966\t5402\t(15854)\t(10452)\nAgency CMBS (2)\t145411\t5666\t(209)\t5457\nTotal Agency\t1138377\t11068\t(16063)\t(4995)\nNon-Agency RMBS (3)\t428251\t435\t(34681)\t(34246)\nCMBS\t248741\t8176\t(30289)\t(22113)\nTotal\t1815369\t19679\t(81033)\t(61354)\n", "q10k_tbl_16": "\tNine Months Ended September 30 2019\t\t\t\n\tSales Proceeds\tRealized Gains\tRealized Losses\tNet Realized Gains (Losses)\nNon-Agency RMBS\t1021\t33\t0\t33\nCMBS\t96930\t21938\t(156)\t21782\nTotal\t97951\t21971\t(156)\t21815\n", "q10k_tbl_17": "Weighted Average Life\tSeptember 30 2020\tDecember 31 2019\n0 to 5 years\t343573\t1359894\nOver 5 to 10 years\t183910\t521517\n10+ years\t76214\t124729\nTotal\t603697\t2006140\n", "q10k_tbl_18": "September 30 2020\tLess than 12 months\t\tGreater than 12 months\t\tTotal\t\n\tCarrying Value\tGross Unrealized Losses\tCarrying Value\tGross Unrealized Losses\tCarrying Value\tGross Unrealized Losses\t\t\t\t\t\t\nNon-Agency RMBS\t235449\t(11651)\t16966\t(1337)\t252415\t(12988)\t\t\t\t\t\t\nCMBS\t33903\t(636)\t0\t0\t33903\t(636)\t\t\t\t\t\t\nTotal\t269352\t(12287)\t16966\t(1337)\t286318\t(13624)\t\t\t\t\t\t\n", "q10k_tbl_19": "December 31 2019\tLess than 12 months\t\tGreater than 12 months\t\tTotal\t\n\tCarrying Value\tGross Unrealized Losses\tCarrying Value\tGross Unrealized Losses\tCarrying Value\tGross Unrealized Losses\nAgency RMBS\t0\t0\t222286\t(7454)\t222286\t(7454)\nNon-Agency RMBS\t0\t0\t104\t(13)\t104\t(13)\nCMBS\t25507\t(124)\t0\t0\t25507\t(124)\nTotal\t25507\t(124)\t222390\t(7467)\t247897\t(7591)\n", "q10k_tbl_20": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\n\tResidential loans\tConsolidated SLST (1)\tResidential loans held in securitization trusts (2)\tResidential loans\tConsolidated SLST (1)\nPrincipal\t1207391\t1259063\t371826\t1464984\t1322131\n(Discount)/premium\t(58904)\t2628\t(24874)\t(81372)\t6455\nUnrealized gains\t28811\t28314\t8534\t46142\t300\nCarrying value\t1177298\t1290005\t355486\t1429754\t1328886\n", "q10k_tbl_21": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\t\t\tSeptember 30 2019\n\tResidential loans\tConsolidated SLST (1)\tResidential loans held in securitization trusts\tResidential loans\nUnrealized gains net\t25583\t41063\t10143\t16818\n", "q10k_tbl_22": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\t\t\tSeptember 30 2019\n\tResidential loans\tConsolidated SLST (1)\tResidential loans held in securitization trusts\tResidential loans\nUnrealized (losses) gains net\t(17899)\t28014\t8418\t34580\n", "q10k_tbl_23": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\n\tResidential loans\tConsolidated SLST\tResidential loans held in securitization trusts\tResidential loans\tConsolidated SLST\nCalifornia\t23.4%\t10.9%\t15.8%\t23.9%\t11.0%\nFlorida\t11.7%\t10.5%\t6.4%\t9.4%\t10.6%\nNew York\t8.0%\t9.2%\t11.0%\t8.0%\t9.1%\nTexas\t5.6%\t4.0%\t4.4%\t5.4%\t4.0%\nNew Jersey\t5.2%\t7.0%\t6.0%\t5.1%\t6.9%\nMaryland\t3.6%\t3.8%\t8.1%\t4.6%\t3.8%\nMassachusetts\t2.5%\t2.8%\t5.5%\t2.8%\t2.9%\nIllinois\t2.7%\t6.7%\t3.2%\t2.8%\t6.6%\n", "q10k_tbl_24": "\tGreater than 90 days past due\t\tLess than 90 days past due\t\n\tFair Value\tUnpaid Principal Balance\tFair Value\tUnpaid Principal Balance\nSeptember 30 2020\t136023\t157682\t18586\t20255\nDecember 31 2019\t106199\t122918\t9291\t10705\n", "q10k_tbl_25": "Balance Sheet\tSeptember 30 2020\tDecember 31 2019\nAssets\t\t\nResidential loans at fair value\t1290005\t1328886\nReceivables (1)\t4162\t5244\nTotal Assets\t1294167\t1334130\nLiabilities and Equity\t\t\nResidential collateralized debt obligations at fair value\t1077980\t1052829\nAccrued expenses and other liabilities (2)\t3664\t2643\nTotal Liabilities\t1081644\t1055472\nEquity\t212523\t278658\nTotal Liabilities and Equity\t1294167\t1334130\n", "q10k_tbl_26": "Statements of Operations\tThree Months Ended September 30 2020\tNine Months Ended September 30 2020\nInterest income (1)\t10896\t34542\nInterest expense (2)\t7562\t24255\nNet interest income\t3334\t10287\nUnrealized gains (losses) net (3)\t27145\t(34893)\nNet income (loss)\t30479\t(24606)\n", "q10k_tbl_27": "\tSeptember 30 2019\nBalance at beginning of period\t195560\nAdditions\t1813\nDisposals\t(48383)\nAccretion\t(4672)\nBalance at end of period (1)\t144318\n", "q10k_tbl_28": "\tDecember 31 2019\nNorth Carolina\t10.5%\nFlorida\t10.1%\nGeorgia\t7.0%\nSouth Carolina\t5.8%\nTexas\t5.6%\nNew York\t5.5%\nOhio\t5.2%\nVirginia\t5.2%\n", "q10k_tbl_29": "\tDecember 31 2019\nUnpaid principal balance\t47237\nDeferred origination costs - net\t301\nAllowance for loan losses\t(3508)\nTotal\t44030\n", "q10k_tbl_30": "\tSeptember 30 2019\nBalance at beginning of period\t3759\nProvision for loan losses\t25\nTransfer to real estate owned\t(167)\nCharge-offs\t(109)\nBalance at the end of period\t3508\n", "q10k_tbl_31": "Days Late\tNumber of Delinquent Loans\tTotal Unpaid Principal\t% of Loan Portfolio\n30 - 60\t2\t211\t0.44%\n90 +\t16\t10010\t21.05%\nReal estate owned through foreclosure\t1\t360\t0.76%\n", "q10k_tbl_32": "\tDecember 31 2019\nNew York\t36.1%\nMassachusetts\t17.2%\nNew Jersey\t12.8%\nFlorida\t12.1%\nMaryland\t5.5%\n", "q10k_tbl_33": "Balance Sheet\tDecember 31 2019\nAssets\t\nMulti-family loans held in securitization trusts at fair value\t17816746\nReceivables (1)\t59417\nTotal Assets\t17876163\nLiabilities and Equity\t\nMulti-family CDOs at fair value\t16724451\nAccrued expenses\t57873\nTotal Liabilities\t16782324\nEquity\t1093839\nTotal Liabilities and Equity\t17876163\n", "q10k_tbl_34": "\tThree Months Ended September 30\tNine Months Ended September 30\t\nStatements of Operations\t2019\t2020\t2019\nInterest income\t139818\t151841\t384743\nInterest expense\t120329\t129762\t332041\nNet interest income\t19489\t22079\t52702\nUnrealized gains (losses) net\t7630\t(10951)\t22247\nNet income\t27119\t11128\t74949\n", "q10k_tbl_35": "\tSeptember 30 2020\t\tDecember 31 2019\t\nInvestment Name\tOwnership Interest\tFair Value\tOwnership Interest\tCarrying Amount\nBBA-EP320 II L.L.C. BBA-Ten10 II L.L.C. and Lexington on the Green Apartments L.L.C. (collectively)\t45%\t11101\t45%\t10108\nSomerset Deerfield Investor LLC\t45%\t18083\t45%\t17417\nRS SWD Owner LLC RS SWD Mitchell Owner LLC RS SWD IF Owner LLC RS SWD Mullis Owner LLC RS SWD JH Mullis Owner LLC and RS SWD Saltzman Owner LLC (collectively)\t43%\t4900\t43%\t4878\nAudubon Mezzanine Holdings L.L.C. (Series A)\t57%\t10994\t57%\t10998\nEP 320 Growth Fund L.L.C. (Series A) and Turnbury Park Apartments - BC L.L.C. (Series A) (collectively)\t46%\t6871\t46%\t6847\nWalnut Creek Properties Holdings L.L.C.\t36%\t8417\t36%\t8288\nTowers Property Holdings LLC\t37%\t11544\t37%\t11278\nMansions Property Holdings LLC\t34%\t11124\t34%\t10867\nSabina Montgomery Holdings LLC - Series B and Oakley Shoals Apartments LLC - Series A (collectively)\t43%\t4127\t43%\t4062\nGen1814 LLC - Series A Highlands - Mtg. Holdings LLC - Series A and Polos at Hudson Investments LLC - Series A (collectively)\t37%\t9514\t37%\t9396\nAxis Apartments Holdings LLC Arbor-Stratford Holdings II LLC - Series B Highlands - Mtg. Holdings LLC - Series B Oakley Shoals Apartments LLC - Series C and Woodland Park Apartments II LLC (collectively)\t53%\t11781\t53%\t11944\nDCP Gold Creek LLC\t44%\t6050\t0\t0\n1122 Chicago DE LLC\t53%\t6951\t0\t0\nRigsbee Ave Holdings LLC\t56%\t9823\t0\t0\nBighaus LLC\t42%\t13970\t0\t0\nTotal - Preferred Equity Ownership Interests\t\t145250\t\t106083\n", "q10k_tbl_36": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\nInvestment Name\t2020\t2019\t2020\t2019\nBBA-EP320 II L.L.C. BBA-Ten10 II L.L.C. and Lexington on the Green Apartments L.L.C. (collectively)\t295\t299\t898\t860\nSomerset Deerfield Investor LLC\t472\t506\t1259\t1477\nRS SWD Owner LLC RS SWD Mitchell Owner LLC RS SWD IF Owner LLC RS SWD Mullis Owner LLC RS SWD JH Mullis Owner LLC and RS SWD Saltzman Owner LLC (collectively)\t125\t136\t217\t401\nAudubon Mezzanine Holdings L.L.C. (Series A)\t365\t310\t541\t911\nEP 320 Growth Fund L.L.C. (Series A) and Turnbury Park Apartments - BC L.L.C. (Series A) (collectively)\t181\t192\t305\t546\nWalnut Creek Properties Holdings L.L.C.\t280\t236\t402\t564\nTowers Property Holdings LLC\t380\t311\t502\t322\nMansions Property Holdings LLC\t366\t300\t484\t310\nSabina Montgomery Holdings LLC - Series B and Oakley Shoals Apartments LLC - Series A (collectively)\t137\t70\t190\t70\nGen1814 LLC - Series A Highlands - Mtg. Holdings LLC - Series A and Polos at Hudson Investments LLC - Series A (collectively)\t317\t96\t430\t96\nAxis Apartments Holdings LLC Arbor-Stratford Holdings II LLC - Series B Highlands - Mtg. Holdings LLC - Series B Oakley Shoals Apartments LLC - Series C and Woodland Park Apartments II LLC (collectively)\t392\t0\t527\t0\nDCP Gold Creek LLC\t203\t0\t305\t0\n1122 Chicago DE LLC\t226\t0\t462\t0\nRigsbee Ave Holdings LLC\t326\t0\t604\t0\nBighaus LLC\t237\t0\t237\t0\n", "q10k_tbl_37": "\tSeptember 30 2020\t\tDecember 31 2019\t\nInvestment Name\tOwnership Interest\tFair Value\tOwnership Interest\tFair Value\nJoint venture equity investments in multi-family properties\t\t\t\t\nThe Preserve at Port Royal Venture LLC\t0\t0\t77%\t18310\nEquity investments in entities that invest in residential properties and loans\t\t\t\t\nMorrocroft Neighborhood Stabilization Fund II LP\t11%\t12602\t11%\t11796\nHeadlands Asset Management Fund III (Cayman) LP (Headlands Flagship Opportunity Fund Series I)\t49%\t60854\t49%\t53776\nTotal - Equity Ownership Interests\t\t73456\t\t83882\n", "q10k_tbl_38": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\nInvestment Name\t2020\t2019\t2020\t2019\nJoint venture equity investments in multi-family properties\t\t\t\t\nEvergreens JV Holdings LLC (1)\t0\t536\t0\t5049\nThe Preserve at Port Royal Venture LLC (2)\t122\t449\t(949)\t1295\nEquity investments in entities that invest in residential properties and loans\t\t\t\t\nMorrocroft Neighborhood Stabilization Fund II LP\t515\t215\t1080\t610\nHeadlands Asset Management Fund III (Cayman) LP (Headlands Flagship Opportunity Fund Series I)\t5027\t215\t7078\t215\n", "q10k_tbl_39": "\tSeptember 30 2020\tDecember 31 2019 (1)\nInvestment amount\t188654\t181409\nDeferred loan fees net\t(1291)\t(1364)\nUnrealized losses net\t(4209)\t0\nTotal\t183154\t180045\n", "q10k_tbl_40": "\tSeptember 30 2020\tDecember 31 2019\nTennessee\t12.2%\t12.3%\nFlorida\t11.9%\t12.0%\nGeorgia\t11.7%\t11.8%\nTexas\t9.9%\t10.6%\nSouth Carolina\t9.1%\t6.3%\nAlabama\t8.3%\t10.0%\nNew Jersey\t5.0%\t5.0%\n", "q10k_tbl_41": "\tFinancing VIEs\t\tOther VIEs\t\t\n\tResidential Loan Securitizations\tNon-Agency RMBS Re-Securitization\tConsolidated SLST\tKRVI\tTotal\nCash and cash equivalents\t0\t0\t0\t4305\t4305\nInvestment securities available for sale at fair value\t0\t131836\t0\t0\t131836\nResidential loans at fair value\t355486\t0\t1290005\t0\t1645491\nReceivables and other assets\t12568\t50635\t4162\t3660\t71025\nTotal assets\t368054\t182471\t1294167\t7965\t1852657\nResidential collateralized debt obligations\t268820\t0\t0\t0\t268820\nResidential collateralized debt obligations at fair value\t0\t0\t1077980\t0\t1077980\nSecuritized debt\t0\t88791\t0\t0\t88791\nAccrued expenses and other liabilities\t1211\t396\t3664\t74\t5345\nTotal liabilities\t270031\t89187\t1081644\t74\t1440936\n", "q10k_tbl_42": "\tFinancing VIE\tOther VIEs\t\t\t\n\tResidential Loan Securitizations\tConsolidated K-Series\tConsolidated SLST\tKRVI\tTotal\nCash and cash equivalents\t0\t0\t0\t107\t107\nResidential loans net\t44030\t0\t0\t0\t44030\nResidential loans at fair value\t0\t0\t1328886\t0\t1328886\nMulti-family loans held in securitization trusts at fair value\t0\t17816746\t0\t0\t17816746\nReceivables and other assets\t1328\t59417\t5244\t14626\t80615\nTotal assets\t45358\t17876163\t1334130\t14733\t19270384\nResidential collateralized debt obligations\t40429\t0\t0\t0\t40429\nResidential collateralized debt obligations at fair value\t0\t0\t1052829\t0\t1052829\nMulti-family collateralized debt obligations at fair value\t0\t16724451\t0\t0\t16724451\nAccrued expenses and other liabilities\t14\t57873\t2643\t75\t60605\nTotal liabilities\t40443\t16782324\t1055472\t75\t17878314\n", "q10k_tbl_43": "Scheduled Maturity (principal amount)\tSeptember 30 2020\nOver 36 months\t89916\nDebt issuance cost\t(1125)\nCarrying value\t88791\n", "q10k_tbl_44": "\tSeptember 30 2020\t\t\n\tInvestment securities available for sale at fair value\tPreferred equity and mezzanine loan investments\tInvestments in unconsolidated entities\t\t\t\tTotal\t\t\nABS\t45007\t0\t0\t\t\t\t45007\t\t\nPreferred equity investments in multi-family properties\t0\t178286\t145250\t\t\t\t323536\t\t\nMezzanine loans on multi-family properties\t0\t4868\t0\t\t\t\t4868\t\t\nEquity investments in entities that invest in residential properties and loans\t0\t0\t73456\t\t\t\t73456\t\t\nTotal assets\t45007\t183154\t218706\t\t\t\t446867\t\t\n", "q10k_tbl_45": "\tDecember 31 2019\t\t\n\tInvestment securities available for sale at fair value\tPreferred equity and mezzanine loan investments\tInvestments in unconsolidated entities\t\t\t\tTotal\t\t\nABS\t49214\t0\t0\t\t\t\t49214\t\t\nPreferred equity investments in multi-family properties\t0\t173825\t106083\t\t\t\t279908\t\t\nMezzanine loans on multi-family properties\t0\t6220\t0\t\t\t\t6220\t\t\nEquity investments in entities that invest in residential properties and loans\t0\t0\t65572\t\t\t\t65572\t\t\nTotal assets\t49214\t180045\t171655\t\t\t\t400914\t\t\n", "q10k_tbl_46": "\tNotional Amount for the Nine Months Ended September 30 2020\t\t\t\nType of Derivative Instrument\tDecember 31 2019\tAdditions\tTerminations\tSeptember 30 2020\nInterest rate swaps\t495500\t0\t(495500)\t0\n", "q10k_tbl_47": "\tNotional Amount for the Nine Months Ended September 30 2019\t\t\t\nType of Derivative Instrument\tDecember 31 2018\tAdditions\tTerminations\tSeptember 30 2019\nInterest rate swaps\t495500\t0\t0\t495500\n", "q10k_tbl_48": "\tThree Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n\tRealized Gains (Losses)\tUnrealized Gains (Losses)\tRealized Gains (Losses)\tUnrealized Gains (Losses)\nInterest rate swaps\t0\t0\t0\t(12595)\nTotal\t0\t0\t0\t(12595)\n", "q10k_tbl_49": "\tNine Months Ended September 30\t\t\t\n\t2020\t\t2019\t\n\tRealized Gains (Losses)\tUnrealized Gains (Losses)\tRealized Gains (Losses)\tUnrealized Gains (Losses)\nInterest rate swaps\t(73078)\t28967\t0\t(42188)\nTotal\t(73078)\t28967\t0\t(42188)\n", "q10k_tbl_50": "\tDecember 31 2019\t\nSwap Maturities\t\tNotional Amount\t\t\t\tWeighted Average Fixed Interest Rate\t\t\t\t\t\tWeighted Average Variable Interest Rate\t\t\n2024\t\t98000\t\t\t\t2.18%\t\t\t\t\t\t1.98%\t\t\n2027\t\t247500\t\t\t\t2.39%\t\t\t\t\t\t1.94%\t\t\n2028\t\t150000\t\t\t\t3.23%\t\t\t\t\t\t1.92%\t\t\nTotal\t\t495500\t\t\t\t2.60%\t\t\t\t\t\t1.95%\t\t\n", "q10k_tbl_51": "\tDecember 31 2019\t\n\t\tOutstanding Repurchase Agreements\t\t\t\tFair Value of Collateral Pledged\t\t\t\t\t\tAmortized Cost of Collateral Pledged\t\t\nAgency RMBS (1)\t\t812742\t\t\t\t865765\t\t\t\t\t\t864428\t\t\nAgency CMBS (2)\t\t133184\t\t\t\t139317\t\t\t\t\t\t140118\t\t\nNon-Agency RMBS (3)\t\t594286\t\t\t\t797784\t\t\t\t\t\t785952\t\t\nCMBS (4)\t\t811890\t\t\t\t1036513\t\t\t\t\t\t853043\t\t\nBalance at end of the period\t\t2352102\t\t\t\t2839379\t\t\t\t\t\t2643541\t\t\n", "q10k_tbl_52": "Contractual Maturity\tDecember 31 2019\nWithin 30 days\t449474\nOver 30 days to 90 days\t1647683\nOver 90 days\t254945\nTotal\t2352102\n", "q10k_tbl_53": "Unencumbered Securities\tDecember 31 2019\nAgency RMBS\t83351\nCMBS\t235199\nNon-Agency RMBS\t168063\nABS\t49214\nTotal\t535827\n", "q10k_tbl_54": "\tMaximum Aggregate Uncommitted Principal Amount\tOutstanding Repurchase Agreements\tCarrying Value of Loans Pledged (1)\tWeighted Average Rate\tWeighted Average Months to Maturity (2)\nSeptember 30 2020\t1247483\t673787\t938572\t2.46%\t2.96\nDecember 31 2019\t1200000\t754132\t961749\t3.67%\t11.20\n", "q10k_tbl_55": "\tNYM Preferred Trust I\tNYM Preferred Trust II\nPrincipal value of trust preferred securities\t25000\t20000\nInterest rate\tThree month LIBOR plus 3.75% resetting quarterly\tThree month LIBOR plus 3.95% resetting quarterly\nScheduled maturity\tMarch 30 2035\tOctober 30 2035\n", "q10k_tbl_56": "Year Ending December 31\tTotal\n2020\t0\n2021\t0\n2022\t138000\n2023\t0\n2024\t0\n2025\t0\nThereafter\t45000\n\t183000\n", "q10k_tbl_57": "\tMeasured at Fair Value on a Recurring Basis at\t\t\t\t\t\t\t\n\tSeptember 30 2020\t\t\t\tDecember 31 2019\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal\tLevel 1\tLevel 2\tLevel 3\tTotal\nAssets carried at fair value\t\t\t\t\t\t\t\t\nInvestment securities available for sale at fair value:\t\t\t\t\t\t\t\t\nAgency RMBS\t0\t0\t0\t0\t0\t922877\t0\t922877\nAgency CMBS\t0\t0\t0\t0\t0\t50958\t0\t50958\nNon-Agency RMBS\t0\t375765\t0\t375765\t0\t715314\t0\t715314\nCMBS\t0\t182925\t0\t182925\t0\t267777\t0\t267777\nABS\t0\t45007\t0\t45007\t0\t49214\t0\t49214\nResidential loans at fair value:\t\t\t\t\t\t\t\t\nResidential loans\t0\t0\t1177298\t1177298\t0\t0\t1429754\t1429754\nConsolidated SLST\t0\t0\t1290005\t1290005\t0\t0\t1328886\t1328886\nResidential loans held in securitization trusts\t0\t0\t355486\t355486\t0\t0\t0\t0\nInvestments in unconsolidated entities\t0\t0\t218706\t218706\t0\t0\t83882\t83882\nPreferred equity and mezzanine loan investments\t0\t0\t183154\t183154\t0\t0\t0\t0\nMulti-family loans held in securitization trusts at fair value\t0\t0\t0\t0\t0\t0\t17816746\t17816746\nDerivative assets:\t\t\t\t\t\t\t\t\nInterest rate swaps (1)\t0\t0\t0\t0\t0\t15878\t0\t15878\nTotal\t0\t603697\t3224649\t3828346\t0\t2022018\t20659268\t22681286\nLiabilities carried at fair value\t\t\t\t\t\t\t\t\nMulti-family collateralized debt obligations at fair value\t0\t0\t0\t0\t0\t0\t16724451\t16724451\nResidential collateralized debt obligations at fair value\t0\t0\t1077980\t1077980\t0\t0\t1052829\t1052829\nTotal\t0\t0\t1077980\t1077980\t0\t0\t17777280\t17777280\n", "q10k_tbl_58": "\tNine Months Ended September 30 2020\t\t\t\t\t\t\n\tResidential loans\tConsolidated SLST\tResidential loans held in securitization trusts\tInvestments in unconsolidated entities\tPreferred equity and mezzanine loan investments\tMulti-family loans held in securitization trusts\tTotal\nBalance at beginning of period\t1429754\t1328886\t0\t83882\t0\t17816746\t20659268\nTotal (losses)/gains (realized/unrealized)\t\t\t\t\t\t\t\nIncluded in earnings\t(26069)\t24096\t8836\t14573\t9760\t41795\t72991\nTransfers in (1)\t164279\t0\t46572\t107477\t182465\t0\t500793\nTransfers out (2) (3)\t(5061)\t0\t(1497)\t0\t0\t(237297)\t(243855)\nTransfer to securitization trust (4)\t(317089)\t0\t317089\t0\t0\t0\t0\nContributions\t0\t0\t0\t35951\t13712\t0\t49663\nPaydowns/Distributions\t(224073)\t(62977)\t(15514)\t(23177)\t(22783)\t(239796)\t(588320)\nRecovery of charge-off\t0\t0\t0\t0\t0\t35\t35\nSales (3)\t(93755)\t0\t0\t0\t0\t(17381483)\t(17475238)\nPurchases\t249312\t0\t0\t0\t0\t0\t249312\nBalance at the end of period\t1177298\t1290005\t355486\t218706\t183154\t0\t3224649\n", "q10k_tbl_59": "\tNine Months Ended September 30 2019\t\t\t\t\n\tResidential loans\tInvestments in unconsolidated entities\tMulti-family loans held in securitization trusts\tCMBS held in securitization trusts\tTotal\nBalance at beginning of period\t737523\t32994\t11679847\t52700\t12503064\nTotal gains/(losses) (realized/unrealized)\t\t\t\t\t\nIncluded in earnings\t44913\t7169\t760132\t17734\t829948\nIncluded in other comprehensive income (loss)\t0\t0\t0\t(13665)\t(13665)\nTransfers in\t0\t0\t0\t0\t0\nTransfers out\t(437)\t0\t0\t0\t(437)\nContributions\t0\t50000\t0\t0\t50000\nPaydowns/Distributions\t(106113)\t(13914)\t(368811)\t0\t(488838)\nCharge-off\t0\t0\t(3510)\t0\t(3510)\nSales\t(19814)\t0\t0\t(56769)\t(76583)\nPurchases (1)\t460056\t0\t3795606\t0\t4255662\nBalance at the end of period\t1116128\t76249\t15863264\t0\t17055641\n", "q10k_tbl_60": "\tNine Months Ended September 30 2020\t\t\n\tMulti-Family CDOs\tSLST CDOs\tTotal\nBalance at beginning of period\t16724451\t1052829\t17777280\nTotal losses/(gains) (realized/unrealized)\t\t\t\nIncluded in earnings\t35018\t66203\t101221\nPaydowns\t(147376)\t(63278)\t(210654)\nSales (1)\t(16612093)\t22226\t(16589867)\nTransfers out\t0\t0\t0\nBalance at the end of period\t0\t1077980\t1077980\n", "q10k_tbl_61": "\tNine Months Ended September 30 2019\n\tMulti-Family CDOs\nBalance at beginning of period\t11022248\nTotal losses (realized/unrealized)\t\nIncluded in earnings\t694043\nPurchases (1)\t3633525\nPaydowns\t(368107)\nCharge-off\t(3510)\nBalance at the end of period\t14978199\n", "q10k_tbl_62": "September 30 2020\tFair Value\tValuation Technique\tUnobservable Input\tWeighted Average\tRange\t\t\nAssets\t\t\t\t\t\t\t\nResidential loans at fair value:\t\t\t\t\t\t\t\nResidential loans and residential loans held in securitization trusts (1)\t1397090\tDiscounted cash flow\tLifetime CPR\t9.6%\t0\t0\t67.6%\n\t\t\tLifetime CDR\t2.6%\t0\t0\t100.0%\n\t\t\tLoss severity\t16.3%\t0\t0\t100.0%\n\t\t\tYield\t5.3%\t2.3%\t0\t35.0%\n\t135694\tLiquidation model\tAnnual home price appreciation\t0.1%\t0\t0\t5.7%\n\t\t\tLiquidation timeline (months)\t29\t1\t0\t57\n\t\t\tProperty value\t572723\t12430\t0\t3550000\n\t\t\tYield\t7.1%\t7.0%\t0\t35.0%\nResidential loans held in Consolidated SLST (2)\t1290005\t\tLiability price\tN/A\t\t\t\nTotal\t2822789\t\t\t\t\t\t\nInvestments in unconsolidated entities (1)\t145250\tDiscounted cash flow\tDiscount rate\t12.5%\t12.0%\t0\t13.5%\n\t\t\tMonths to assumed redemption\t42\t18\t0\t56\n\t\t\tLoss severity\t0\t\t\t\nPreferred equity and mezzanine loan investments (1)\t183154\tDiscounted cash flow\tDiscount rate\t12.4%\t11.5%\t0\t16.0%\n\t\t\tMonths to assumed redemption\t45\t1\t0\t186\n\t\t\tLoss severity\t0\t\t\t\nLiabilities\t\t\t\t\t\t\t\nResidential collateralized debt obligations at fair value\t\t\t\t\t\t\t\nSLST CDOs (2) (3)\t1077980\tDiscounted cash flow\tYield\t2.3%\t1.2%\t0\t11.5%\n\t\t\tCollateral prepayment rate\t5.5%\t2.8%\t0\t6.1%\n\t\t\tCollateral default rate\t2.0%\t0\t0\t6.8%\n\t\t\tLoss severity\t21.1%\t0\t0\t23.7%\n", "q10k_tbl_63": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nAssets\t\t\t\t\nResidential loans at fair value\t\t\t\t\nResidential loans (1)\t35420\t17413\t(883)\t37079\nConsolidated SLST (1)\t41063\t0\t28014\t0\nResidential loans held in securitization trusts (1)\t817\t0\t(823)\t0\nInvestments in unconsolidated entities (2)\t7\t449\t(4052)\t1295\nPreferred equity and mezzanine loan investments (1)\t(955)\t0\t(6518)\t0\nMulti-family loans held in securitization trusts at fair value (1)\t0\t197837\t0\t802625\nLiabilities\t\t\t\t\nMulti-family collateralized debt obligations at fair value (1)\t0\t(190207)\t0\t(780378)\nResidential collateralized debt obligations at fair value (1)\t(13918)\t0\t(62907)\t0\n", "q10k_tbl_64": "\t\tSeptember 30 2020\t\tDecember 31 2019\t\n\tFair Value Hierarchy Level\tCarrying Value\tEstimated Fair Value\tCarrying Value\tEstimated Fair Value\nFinancial Assets:\t\t\t\t\t\nCash and cash equivalents\tLevel 1\t649822\t649822\t118763\t118763\nInvestment securities available for sale at fair value\tLevel 2\t603697\t603697\t2006140\t2006140\nResidential loans at fair value\t\t\t\t\t\nResidential loans\tLevel 3\t1177298\t1177298\t1429754\t1429754\nConsolidated SLST\tLevel 3\t1290005\t1290005\t1328886\t1328886\nResidential loans held in securitization trusts\tLevel 3\t355486\t355486\t0\t0\nResidential loans net\tLevel 3\t0\t0\t202756\t208471\nInvestments in unconsolidated entities\tLevel 3\t218706\t218706\t189965\t191359\nPreferred equity and mezzanine loan investments\tLevel 3\t183154\t183154\t180045\t182465\nMulti-family loans held in securitization trusts at fair value\tLevel 3\t0\t0\t17816746\t17816746\nDerivative assets\tLevel 2\t0\t0\t15878\t15878\nLoans held for sale net (1)\tLevel 3\t0\t0\t2406\t2482\nFinancial Liabilities:\t\t\t\t\t\nRepurchase agreements\tLevel 2\t672519\t672519\t3105416\t3105416\nSecuritized debt\tLevel 2\t88791\t90096\t0\t0\nResidential collateralized debt obligations\tLevel 3\t268820\t269749\t40429\t38888\nMulti-family collateralized debt obligations at fair value\tLevel 3\t0\t0\t16724451\t16724451\nResidential collateralized debt obligations at fair value\tLevel 3\t1077980\t1077980\t1052829\t1052829\nSubordinated debentures\tLevel 3\t45000\t32548\t45000\t41592\nConvertible notes\tLevel 2\t134720\t135457\t132955\t140865\n", "q10k_tbl_65": "Class of Preferred Stock\tShares Authorized\tShares Issued and Outstanding\tCarrying Value\tLiquidation Preference\tContractual Rate (1)\tRedemption Date (2)\tFixed-to-Floating Rate Conversion Date (1)(3)\tFloating Annual Rate (4)\nFixed Rate\t\t\t\t\t\t\t\t\nSeries B\t6000000\t3156087\t76180\t78902\t7.750%\tJune 4 2018\t\t\nSeries C\t6600000\t4181807\t101102\t104545\t7.875%\tApril 22 2020\t\t\nFixed-to-Floating Rate\t\t\t\t\t\t\t\t\nSeries D\t8400000\t6123495\t148134\t153087\t8.000%\tOctober 15 2027\tOctober 15 2027\t3M LIBOR + 5.695%\nSeries E\t9900000\t7411499\t179349\t185288\t7.875%\tJanuary 15 2025\tJanuary 15 2025\t3M LIBOR + 6.429%\nTotal\t30900000\t20872888\t504765\t521822\t\t\t\t\n", "q10k_tbl_66": "\t\t\tCash Dividend Per Share\t\t\t\t\t\t\t\nDeclaration Date\tRecord Date\tPayment Date\tSeries B Preferred Stock\t\tSeries C Preferred Stock\t\tSeries D Preferred Stock\t\tSeries E Preferred Stock\t\nSeptember 14 2020\tOctober 1 2020\tOctober 15 2020\t0.484375\t\t0.4921875\t\t0.50\t\t0.4921875\t\nJune 15 2020\tJuly 1 2020\tJuly 15 2020\t0.96875\t(1)\t0.984375\t(1)\t1.00\t(1)\t0.984375\t(1)\nDecember 10 2019\tJanuary 1 2020\tJanuary 15 2020\t0.484375\t\t0.4921875\t\t0.50\t\t0.47578\t(2)\nSeptember 9 2019\tOctober 1 2019\tOctober 15 2019\t0.484375\t\t0.4921875\t\t0.50\t\t0\t\nJune 14 2019\tJuly 1 2019\tJuly 15 2019\t0.484375\t\t0.4921875\t\t0.50\t\t0\t\nMarch 19 2019\tApril 1 2019\tApril 15 2019\t0.484375\t\t0.4921875\t\t0.50\t\t0\t\n", "q10k_tbl_67": "Period\tDeclaration Date\tRecord Date\tPayment Date\tCash Dividend Per Share\nThird Quarter 2020\tSeptember 14 2020\tSeptember 24 2020\tOctober 26 2020\t0.075\nSecond Quarter 2020\tJune 15 2020\tJuly 1 2020\tJuly 27 2020\t0.050\nFourth Quarter 2019\tDecember 10 2019\tDecember 20 2019\tJanuary 27 2020\t0.200\nThird Quarter 2019\tSeptember 9 2019\tSeptember 19 2019\tOctober 25 2019\t0.200\nSecond Quarter 2019\tJune 14 2019\tJune 24 2019\tJuly 25 2019\t0.200\nFirst Quarter 2019\tMarch 19 2019\tMarch 29 2019\tApril 25 2019\t0.200\n", "q10k_tbl_68": "Share Issue Month\tShares Issued\tNet Proceeds (1)\nFebruary 2020\t50600000\t305274\nJanuary 2020\t34500000\t206650\n", "q10k_tbl_69": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nBasic Earnings (Loss) per Common Share:\t\t\t\t\nNet income (loss) attributable to Company\t101641\t41379\t(368929)\t108254\nLess: Preferred Stock dividends\t(10297)\t(6544)\t(30890)\t(18726)\nNet income (loss) attributable to Company's common stockholders\t91344\t34835\t(399819)\t89528\nBasic weighted average common shares outstanding\t377744\t234043\t368740\t203270\nBasic Earnings (Loss) per Common Share\t0.24\t0.15\t(1.08)\t0.44\nDiluted Earnings (Loss) per Common Share:\t\t\t\t\nNet income (loss) attributable to Company\t101641\t41379\t(368929)\t108254\nLess: Preferred Stock dividends\t(10297)\t(6544)\t(30890)\t(18726)\nAdd back: Interest expense on convertible notes for the period net of tax\t2525\t2674\t0\t7981\nNet income (loss) attributable to Company's common stockholders\t93869\t37509\t(399819)\t97509\nWeighted average common shares outstanding\t377744\t234043\t368740\t203270\nNet effect of assumed convertible notes conversion to common shares\t19694\t19694\t0\t19694\nNet effect of assumed RSUs vested\t1902\t0\t0\t0\nNet effect of assumed PSUs vested\t369\t1800\t0\t1781\nDiluted weighted average common shares outstanding\t399709\t255537\t368740\t224745\nDiluted Earnings (Loss) per Common Share\t0.23\t0.15\t(1.08)\t0.43\n", "q10k_tbl_70": "\t2020\t\t2019\t\n\tNumber of Non-vested Restricted Shares\tWeighted Average Per Share Grant Date Fair Value (1)\tNumber of Non-vested Restricted Shares\tWeighted Average Per Share Grant Date Fair Value (1)\nNon-vested shares at January 1\t837123\t6.18\t507536\t5.91\nGranted\t1054254\t6.33\t536242\t6.30\nVested\t(287611)\t6.22\t(205080)\t5.85\nForfeited\t0\t0\t(1575)\t6.35\nNon-vested shares as of September 30\t1603766\t6.27\t837123\t6.18\nRestricted stock granted during the period\t1054254\t6.33\t536242\t6.30\n", "q10k_tbl_71": "\t2020\t\t2019\t\n\tNumber of Non-vested Target Shares\tWeighted Average Per Share Grant Date Fair Value (1)\tNumber of Non-vested Target Shares\tWeighted Average Per Share Grant Date Fair Value (1)\nNon-vested target PSUs at January 1\t2018518\t4.09\t842792\t4.20\nGranted\t883496\t7.03\t1175726\t4.01\nVested\t0\t0\t0\t0\nNon-vested target PSUs as of September 30 2020\t2902014\t4.98\t2018518\t4.09\n", "q10k_tbl_72": "\t2020\t\n\tNumber of Non-vested Shares\tWeighted Average Per Share Grant Date Fair Value (1)\t\t\t\t\t\t\nNon-vested RSUs at January 1\t0\t0\t\t\t\t\t\t\nGranted\t441746\t6.23\t\t\t\t\t\t\nVested\t0\t0\t\t\t\t\t\t\nNon-vested RSUs as of September 30 2020\t441746\t6.23\t\t\t\t\t\t\n", "q10k_tbl_73": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\t\t\t\t\t\t\nCurrent income tax (benefit) expense\t(659)\t(33)\t1386\t(25)\t\t\t\t\t\t\nDeferred income tax benefit\t(113)\t(154)\t(469)\t(222)\t\t\t\t\t\t\nTotal (benefit) provision\t(772)\t(187)\t917\t(247)\t\t\t\t\t\t\n", "q10k_tbl_74": "\tSeptember 30 2020\tDecember 31 2019\nDeferred tax assets\t\t\nNet operating loss carryforward\t5488\t3975\nCapital loss carryover\t4991\t739\nGAAP/Tax basis differences\t2053\t3699\nTotal deferred tax assets (1)\t12532\t8413\nDeferred tax liabilities\t\t\nDeferred tax liabilities\t2\t5\nTotal deferred tax liabilities (2)\t2\t5\nValuation allowance (1)\t(10681)\t(7029)\nTotal net deferred tax asset\t1849\t1379\n", "q10k_tbl_75": "\tJune 30 2020\tAcquisitions\tRepayments (1)\tSales\tFair Value Changes and Other (2)\tSeptember 30 2020\nInvestment securities\t\t\t\t\t\t\nNon-Agency RMBS\t630196\t0\t(16684)\t(259493)\t21746\t375765\nCMBS\t288112\t0\t(359)\t(110680)\t5852\t182925\nABS\t42500\t0\t0\t0\t2507\t45007\nTotal investment securities available for sale\t960808\t0\t(17043)\t(370173)\t30105\t603697\nConsolidated SLST (3)\t185310\t0\t0\t0\t25592\t210902\nTotal investment securities\t1146118\t0\t(17043)\t(370173)\t55697\t814599\nResidential loans\t1483378\t92673\t(80653)\t0\t37386\t1532784\nPreferred equity investments mezzanine loans and investments in unconsolidated entities\t395139\t19117\t(20943)\t0\t8547\t401860\nOther investments (4)\t10550\t327\t0\t(7292)\t0\t3585\nTotals\t3035185\t112117\t(118639)\t(377465)\t101630\t2752828\n", "q10k_tbl_76": "\tJune 30 2020\tSeptember 30 2020\nResidential loans at fair value\t1274850\t1290005\nDeferred interest (a)\t(1307)\t(1123)\nLess: Residential collateralized debt obligations at fair value\t(1088233)\t(1077980)\nConsolidated SLST investment securities owned by NYMT\t185310\t210902\n", "q10k_tbl_77": "\tThree Months Ended September 30 2020\tNine Months Ended September 30 2020\nNet interest income\t25529\t101134\nNet income (loss) attributable to Company's common stockholders\t91344\t(399819)\nNet income (loss) attributable to Company's common stockholders per share (basic)\t0.24\t(1.08)\nComprehensive income (loss) attributable to Company's common stockholders\t113834\t(436889)\nComprehensive income (loss) attributable to Company's common stockholders per share (basic)\t0.30\t(1.18)\nBook value per common share\t4.58\t4.58\nEconomic return on book value (1)\t7.0%\t(18.6)%\n", "q10k_tbl_78": "\tSingle-Family Credit\tMulti- Family Credit\tOther\tTotal\nInvestment securities available for sale at fair value\t375765\t182925\t45007\t603697\nResidential loans at fair value\t2822789\t0\t0\t2822789\nResidential collateralized debt obligations at fair value\t(1077980)\t0\t0\t(1077980)\nInvestments in unconsolidated entities\t73456\t145250\t0\t218706\nPreferred equity and mezzanine loan investments\t0\t183154\t0\t183154\nOther investments (1)\t0\t3585\t0\t3585\nCarrying value\t2194030\t514914\t45007\t2753951\nLiabilities:\t\t\t\t\nRepurchase agreements\t(672519)\t0\t0\t(672519)\nSecuritized debt\t(88791)\t0\t0\t(88791)\nResidential collateralized debt obligations\t(268820)\t0\t0\t(268820)\nSubordinated debentures\t0\t0\t(45000)\t(45000)\nConvertible notes\t0\t0\t(134720)\t(134720)\nCash cash equivalents and restricted cash (2)\t119578\t47952\t537094\t704624\nOther\t50362\t(4356)\t(41348)\t4658\nNet capital allocated\t1333840\t558510\t361033\t2253383\nTotal Leverage Ratio (3)\t\t\t\t0.4\nPortfolio Leverage Ratio (4)\t\t\t\t0.3\n", "q10k_tbl_79": "\tAgency\tSingle-Family Credit\tMulti- Family Credit\tOther\tTotal\nInvestment securities available for sale at fair value\t973835\t715314\t267777\t49214\t2006140\nResidential loans at fair value\t26239\t2732401\t0\t0\t2758640\nResidential collateralized debt obligations at fair value\t0\t(1052829)\t0\t0\t(1052829)\nResidential loans net\t0\t202756\t0\t0\t202756\nInvestments in unconsolidated entities\t0\t65573\t124392\t0\t189965\nPreferred equity and mezzanine loan investments\t0\t0\t180045\t0\t180045\nMulti-family loans held in securitization trusts at fair value\t88359\t0\t17728387\t0\t17816746\nMulti-family collateralized debt obligations at fair value\t0\t0\t(16724451)\t0\t(16724451)\nOther investments (1)\t0\t3119\t14464\t0\t17583\nCarrying value\t1088433\t2666334\t1590614\t49214\t5394595\nLiabilities:\t\t\t\t\t\nRepurchase agreements\t(945926)\t(1347600)\t(811890)\t0\t(3105416)\nResidential collateralized debt obligations\t0\t(40429)\t0\t0\t(40429)\nSubordinated debentures\t0\t0\t0\t(45000)\t(45000)\nConvertible notes\t0\t0\t0\t(132955)\t(132955)\nHedges (net) (2)\t15878\t0\t0\t0\t15878\nCash cash equivalents and restricted cash (3)\t9738\t44604\t4152\t63118\t121612\nGoodwill\t0\t0\t0\t25222\t25222\nOther\t(1449)\t54895\t(10123)\t(71801)\t(28478)\nNet capital allocated\t166674\t1377804\t772753\t(112202)\t2205029\nTotal Leverage Ratio (4)\t\t\t\t\t1.5\nPortfolio Leverage Ratio (5)\t\t\t\t\t1.4\n", "q10k_tbl_80": "\tThree Months Ended September 30 2020\t\t\tNine Months Ended September 30 2020\t\t\n\tAmount\tShares\tPer Share (1)\tAmount\tShares\tPer Share (1)\nBeginning Balance\t1642883\t377465\t4.35\t1683911\t291371\t5.78\nCumulative-effect adjustment for implementation of fair value option (2)\t0\t\t\t12284\t\t\nCommon stock issuance net (3)\t3175\t279\t\t519473\t86373\t\nBalance after cumulative-effect adjustment and share issuance activity\t1646058\t377744\t4.36\t2215668\t377744\t5.87\nDividends declared\t(28331)\t\t(0.08)\t(47218)\t\t(0.13)\nNet change in accumulated other comprehensive income (loss):\t\t\t\t\t\t\nInvestment securities available for sale (4)\t22490\t\t0.06\t(37070)\t\t(0.10)\nNet income (loss) attributable to Company's common stockholders\t91344\t\t0.24\t(399819)\t\t(1.06)\nEnding Balance\t1731561\t377744\t4.58\t1731561\t377744\t4.58\n", "q10k_tbl_81": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nNet interest income\t25529\t31971\t(6442)\t101134\t83866\t17268\nTotal non-interest income (loss)\t90528\t21396\t69132\t(427060)\t60822\t(487882)\nTotal general administrative and operating expenses\t13424\t12288\t1136\t41382\t37326\t4056\nIncome (loss) from operations before income taxes\t102633\t41079\t61554\t(367308)\t107362\t(474670)\nIncome tax (benefit) expense\t(772)\t(187)\t(585)\t917\t(247)\t1164\nNet income (loss) attributable to Company\t101641\t41379\t60262\t(368929)\t108254\t(477183)\nPreferred stock dividends\t10297\t6544\t3753\t30890\t18726\t12164\nNet income (loss) attributable to Company's common stockholders\t91344\t34835\t56509\t(399819)\t89528\t(489347)\nBasic earnings (loss) per common share\t0.24\t0.15\t0.09\t(1.08)\t0.44\t(1.52)\nDiluted earnings (loss) per common share\t0.23\t0.15\t0.08\t(1.08)\t0.43\t(1.51)\n", "q10k_tbl_82": "\tSingle-Family Credit (1) (3)\tMulti- Family Credit (2)\tOther (7)\tTotal\nInterest Income (4)\t28747\t7846\t1203\t37796\nInterest Expense\t(9025)\t0\t(3242)\t(12267)\nNet Interest Income (Expense)\t19722\t7846\t(2039)\t25529\nAverage Interest Earning Assets (3) (5)\t2279813\t417102\t41540\t2738455\nAverage Yield on Interest Earning Assets (6)\t5.03%\t7.52%\t11.58%\t5.51%\nAverage Portfolio Financing Cost (7)\t(3.33)%\t0\t0\t(3.33)%\nPortfolio Net Interest Margin (8)\t1.70%\t7.52%\t11.58%\t2.18%\n", "q10k_tbl_83": "\tAgency (9)\tSingle-Family Credit\tMulti- Family Credit (2) (3)\tOther (7)\tTotal\nInterest Income (4)\t6512\t23668\t28413\t681\t59274\nInterest Expense\t(4980)\t(10499)\t(8400)\t(3424)\t(27303)\nNet Interest Income (Expense)\t1532\t13169\t20013\t(2743)\t31971\nAverage Interest Earning Assets (3) (5)\t1001567\t1772485\t1104560\t26235\t3904847\nAverage Yield on Interest Earning Assets (6)\t2.60%\t5.34%\t10.29%\t10.38%\t6.07%\nAverage Portfolio Financing Cost (7)\t(2.38)%\t(4.27)%\t(4.29)%\t0\t(3.67)%\nPortfolio Net Interest Margin (8)\t0.22%\t1.07%\t6.00%\t10.38%\t2.40%\n", "q10k_tbl_84": "\tAgency (9)\tSingle-Family Credit (1) (3)\tMulti- Family Credit (2) (3)\tOther (7)\tTotal\nInterest Income (4)\t6401\t92676\t46914\t3933\t149924\nInterest Expense\t(4930)\t(27138)\t(6774)\t(9948)\t(48790)\nNet Interest Income (Expense)\t1471\t65538\t40140\t(6015)\t101134\nAverage Interest Earning Assets (3) (5)\t337084\t2444464\t696812\t46524\t3524884\nAverage Yield on Interest Earning Assets (6)\t2.46%\t5.05%\t8.98%\t11.27%\t5.66%\nAverage Portfolio Financing Cost (7)\t(2.25)%\t(3.12)%\t(3.41)%\t0\t(3.02)%\nPortfolio Net Interest Margin (8)\t0.21%\t1.93%\t5.57%\t11.27%\t2.64%\n", "q10k_tbl_85": "\tAgency (9)\tSingle-Family Credit\tMulti- Family Credit (2) (3)\tOther (7)\tTotal\nInterest Income (4)\t20768\t61842\t79479\t710\t162799\nInterest Expense\t(17225)\t(29423)\t(22003)\t(10282)\t(78933)\nNet Interest Income (Expense)\t3543\t32419\t57476\t(9572)\t83866\nAverage Interest Earning Assets (3) (5)\t1046265\t1541787\t1028659\t9112\t3625823\nAverage Yield on Interest Earning Assets (6)\t2.65%\t5.35%\t10.30%\t10.39%\t5.99%\nAverage Portfolio Financing Cost (7)\t(2.58)%\t(4.47)%\t(4.27)%\t0\t(3.73)%\nPortfolio Net Interest Margin (8)\t0.07%\t0.88%\t6.03%\t10.39%\t2.26%\n", "q10k_tbl_86": "\tThree Months Ended September 30 2020\tNine Months Ended September 30 2020\nInterest income residential loans\t30704\t94424\nInterest income investment securities available for sale (a)\t5605\t22507\nInterest expense SLST CDOs (b)\t(7562)\t(24255)\nInterest income Single-Family Credit net\t28747\t92676\nInterest expense repurchase agreements\t(5341)\t(22617)\nInterest expense Residential CDOs (b)\t(2160)\t(2527)\nInterest expense securitized debt\t(1524)\t(1994)\nNet interest income Single-Family Credit\t19722\t65538\n", "q10k_tbl_87": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nInterest income multi-family loans held in securitization trusts\t0\t139818\t151841\t384743\nInterest income investment securities available for sale (a)\t2546\t3419\t8960\t11117\nInterest income preferred equity and mezzanine loan investments\t5300\t5505\t15875\t15660\nInterest expense multi-family collateralized debt obligations\t0\t(120329)\t(129762)\t(332041)\nInterest income Multi-Family Credit net\t7846\t28413\t46914\t79479\nInterest expense repurchase agreements\t0\t(8400)\t(6774)\t(21509)\nInterest expense securitized debt\t0\t0\t0\t(494)\nNet interest income Multi-Family Credit\t7846\t20013\t40140\t57476\n", "q10k_tbl_88": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nSubordinated debentures\t483\t711\t1714\t2185\nConvertible notes\t2759\t2713\t8234\t8097\nTotal\t3242\t3424\t9948\t10282\n", "q10k_tbl_89": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nInvestment securities and related hedges\t(2575)\t5013\t(7588)\t(134452)\t21815\t(156267)\nResidential loans\t1508\t1089\t419\t(15467)\t10741\t(26208)\nTotal realized (losses) gains net\t(1067)\t6102\t(7169)\t(149919)\t32556\t(182475)\n", "q10k_tbl_90": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nInvestment securities and related hedges\t19193\t(13336)\t32529\t9303\t(42929)\t52232\nResidential loans\t35726\t16818\t18908\t(9481)\t34580\t(44061)\nConsolidated SLST\t27145\t0\t27145\t(34893)\t0\t(34893)\nConsolidated K-Series\t0\t7630\t(7630)\t(171011)\t22247\t(193258)\nPreferred equity and mezzanine loan investments\t(866)\t0\t(866)\t(6629)\t0\t(6629)\nTotal unrealized gains (losses) net\t81198\t11112\t70086\t(212711)\t13898\t(226609)\n", "q10k_tbl_91": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nIncome from preferred equity investments accounted for as equity (1)\t4302\t2458\t1844\t7364\t5557\t1807\nIncome from joint venture equity investments in multi-family properties\t122\t985\t(863)\t(949)\t6331\t(7280)\nIncome from entities that invest in residential properties and loans\t5542\t431\t5111\t8158\t826\t7332\nPreferred equity and mezzanine loan premiums resulting from early redemption (2)\t463\t0\t463\t518\t3364\t(2846)\nLosses in Consolidated VIEs (3)\t(159)\t(185)\t26\t(2280)\t(2158)\t(122)\nIncome from real estate held for sale in consolidated variable interest entities\t0\t0\t0\t0\t215\t(215)\nMiscellaneous income\t127\t249\t(122)\t2099\t485\t1614\nTotal other income\t10397\t3938\t6459\t14910\t14620\t290\n", "q10k_tbl_92": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nGeneral and Administrative Expenses\t\t\t\t\t\t\nSalaries benefits and directors' compensation\t7247\t5780\t1467\t23018\t17943\t5075\nProfessional fees\t1176\t983\t193\t4113\t3263\t850\nOther\t2106\t1551\t555\t6026\t5833\t193\nTotal general and administrative expenses\t10529\t8314\t2215\t33157\t27039\t6118\n", "q10k_tbl_93": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nOperating Expenses\t\t\t\t\t\t\nExpenses related to residential loans\t2895\t3974\t(1079)\t8225\t9805\t(1580)\nExpenses related to real estate held for sale in Consolidated VIEs\t0\t0\t0\t0\t482\t(482)\nTotal\t2895\t3974\t(1079)\t8225\t10287\t(2062)\n", "q10k_tbl_94": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020\t2019\t Change\t2020\t2019\t Change\nNET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS\t91344\t34835\t56509\t(399819)\t89528\t(489347)\nOTHER COMPREHENSIVE INCOME (LOSS)\t\t\t\t\t\t\nIncrease (decrease) in fair value of available for sale securities\t\t\t\t\t\t\nAgency RMBS\t0\t5405\t(5405)\t0\t35173\t(35173)\nNon-Agency RMBS\t11161\t6972\t4189\t(34946)\t12640\t(47586)\nCMBS\t1484\t2979\t(1495)\t(9462)\t14347\t(23809)\nTotal\t12645\t15356\t(2711)\t(44408)\t62160\t(106568)\nReclassification adjustment for net loss (gain) included in net income (loss)\t9845\t(4444)\t14289\t7338\t(18109)\t25447\nTOTAL OTHER COMPREHENSIVE INCOME (LOSS)\t22490\t10912\t11578\t(37070)\t44051\t(81121)\nCOMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS\t113834\t45747\t68087\t(436889)\t133579\t(570468)\n", "q10k_tbl_95": "\tSeptember 30 2020\t\t\t\t\t\t\t\n\t\t\tUnrealized\t\t\tWeighted Average\t\t\nInvestment Securities\tCurrent Par Value\tAmortized Cost\tGains\tLosses\tFair Value\tCoupon (1)\tYield (2)\tOutstanding Repurchase Agreements\nAvailable for Sale (\"AFS\")\t\t\t\t\t\t\t\t\nNon-Agency RMBS\t\t\t\t\t\t\t\t\nSenior\t112947\t113238\t0\t(6457)\t106781\t4.00%\t4.16%\t0\nMezzanine\t215089\t212055\t425\t(8884)\t203596\t4.04%\t4.60%\t0\nSubordinated\t78183\t67876\t0\t(6950)\t60926\t4.28%\t5.32%\t0\nIO\t545549\t6890\t153\t(2581)\t4462\t0.44%\t5.91%\t0\nTotal Non-Agency RMBS\t951768\t400059\t578\t(24872)\t375765\t1.83%\t4.55%\t0\nCMBS\t\t\t\t\t\t\t\t\nMezzanine\t106153\t101146\t4098\t(3493)\t101751\t4.32%\t4.81%\t0\nSubordinated\t6000\t6000\t0\t(960)\t5040\t7.97%\t7.97%\t0\nIO\t12268487\t77549\t387\t(1802)\t76134\t0.10%\t4.71%\t0\nTotal CMBS\t12380640\t184695\t4485\t(6255)\t182925\t0.14%\t4.84%\t0\nABS\t\t\t\t\t\t\t\t\nResiduals\t113\t39519\t5488\t0\t45007\t0\t11.27%\t0\nTotal ABS\t113\t39519\t5488\t0\t45007\t0\t11.27%\t0\nTotal - AFS\t13332521\t624273\t10551\t(31127)\t603697\t0.50%\t5.11%\t0\nConsolidated SLST\t\t\t\t\t\t\t\t\nNon-Agency RMBS\t\t\t\t\t\t\t\t\nSubordinated\t256807\t214012\t0\t(31901)\t182111\t4.67%\t4.96%\t0\nIO\t214548\t31866\t0\t(3075)\t28791\t3.50%\t8.25%\t0\nTotal Non-Agency RMBS\t471355\t245878\t0\t(34976)\t210902\t4.13%\t5.40%\t0\nTotal - Consolidated SLST\t471355\t245878\t0\t(34976)\t210902\t4.13%\t5.40%\t0\nTotal Investment Securities\t13803876\t870151\t10551\t(66103)\t814599\t0.54%\t5.19%\t0\n", "q10k_tbl_96": "\tDecember 31 2019\t\t\t\t\t\t\t\n\t\t\tUnrealized\t\t\tWeighted Average\t\t\nInvestment Securities\tCurrent Par Value\tAmortized Cost\tGains\tLosses\tFair Value\tCoupon (1)\tYield (2)\tOutstanding Repurchase Agreements\nAvailable for Sale (\"AFS\")\t\t\t\t\t\t\t\t\nAgency RMBS\t\t\t\t\t\t\t\t\nAgency Fixed-Rate\t836223\t867236\t7397\t(6162)\t868471\t3.38%\t2.61%\t746834\nAgency ARMs\t53038\t55740\t13\t(1347)\t54406\t3.21%\t1.68%\t41765\nTotal Agency RMBS\t889261\t922976\t7410\t(7509)\t922877\t3.37%\t2.55%\t788599\nAgency CMBS\t\t\t\t\t\t\t\t\nSenior\t51184\t51334\t19\t(395)\t50958\t2.45%\t2.41%\t48640\nTotal Agency CMBS\t51184\t51334\t19\t(395)\t50958\t2.45%\t2.41%\t48640\nTotal Agency\t940445\t974310\t7429\t(7904)\t973835\t3.36%\t2.55%\t837239\nNon-Agency RMBS\t\t\t\t\t\t\t\t\nSenior\t260604\t260741\t1971\t(13)\t262699\t4.65%\t4.66%\t194024\nMezzanine\t285760\t281743\t8713\t0\t290456\t5.24%\t5.59%\t179424\nSubordinated\t150961\t150888\t2518\t(2)\t153404\t5.64%\t5.66%\t70390\nIO\t842577\t8211\t1790\t(1246)\t8755\t0.42%\t5.93%\t0\nTotal Non-Agency RMBS\t1539902\t701583\t14992\t(1261)\t715314\t2.68%\t5.26%\t443838\nCMBS\t\t\t\t\t\t\t\t\nMezzanine\t261287\t254620\t13300\t(143)\t267777\t5.00%\t5.37%\t142230\nTotal CMBS\t261287\t254620\t13300\t(143)\t267777\t5.00%\t5.37%\t142230\nABS\t\t\t\t\t\t\t\t\nResiduals\t113\t49902\t0\t(688)\t49214\t0\t10.70%\t0\nTotal ABS\t113\t49902\t0\t(688)\t49214\t0\t10.70%\t0\nTotal - AFS\t2741747\t1980415\t35721\t(9996)\t2006140\t3.25%\t3.71%\t1423307\nConsolidated K-Series\t\t\t\t\t\t\t\t\nAgency CMBS\t\t\t\t\t\t\t\t\nSenior\t86355\t88784\t0\t(425)\t88359\t2.74%\t2.34%\t84544\nTotal Agency CMBS\t86355\t88784\t0\t(425)\t88359\t2.74%\t2.34%\t84544\nCMBS\t\t\t\t\t\t\t\t\nMezzanine\t92926\t83264\t12271\t0\t95535\t4.21%\t5.70%\t59579\nPO\t1375874\t654849\t169678\t0\t824527\t0\t13.98%\t571403\nIO\t12364412\t83960\t138\t(224)\t83874\t0.10%\t4.66%\t38678\nTotal CMBS\t13833212\t822073\t182087\t(224)\t1003936\t0.13%\t12.10%\t669660\nTotal - Consolidated K-Series\t13919567\t910857\t182087\t(649)\t1092295\t0.13%\t11.92%\t754204\nConsolidated SLST\t\t\t\t\t\t\t\t\nAgency RMBS\t\t\t\t\t\t\t\t\nSenior\t25902\t26227\t11\t0\t26238\t2.83%\t2.53%\t24143\n", "q10k_tbl_97": "Total Agency RMBS\t25902\t26227\t11\t0\t26238\t2.83%\t2.53%\t24143\nNon-Agency RMBS\t\t\t\t\t\t\t\t\nSubordinated\t256093\t215034\t0\t(275)\t214759\t5.62%\t7.23%\t150448\nIO\t228437\t35592\t181\t0\t35773\t3.60%\t8.58%\t0\nTotal Non-Agency RMBS\t484530\t250626\t181\t(275)\t250532\t4.67%\t7.42%\t150448\nTotal - Consolidated SLST\t510432\t276853\t192\t(275)\t276770\t4.58%\t6.96%\t174591\nTotal Investment Securities\t17171746\t3168125\t218000\t(10920)\t3375205\t0.69%\t6.02%\t2352102\n", "q10k_tbl_98": "\tSeptember 30 2020\tDecember 31 2019\nCurrent balance of loans\t1259063\t1322131\nNumber of loans\t7797\t8103\nCurrent average loan size\t161480\t162804\nWeighted average original loan term (in months)\t351\t351\nWeighted average LTV at purchase\t67.0%\t66.2%\nWeighted average credit score at purchase\t710\t711\nCurrent Coupon:\t\t\n3.00% or less\t3.2%\t3.8%\n3.01% - 4.00%\t36.3%\t35.2%\n4.01% - 5.00%\t40.0%\t40.2%\n5.01% - 6.00%\t12.3%\t12.4%\n6.01% and over\t8.2%\t8.4%\nDelinquency Status:\t\t\nCurrent\t64.0%\t47.6%\n31 - 60\t13.6%\t35.5%\n61 - 90\t8.6%\t13.1%\n90+\t13.8%\t3.8%\nOrigination Year:\t\t\n2005 or earlier\t31.0%\t30.9%\n2006\t15.3%\t15.4%\n2007\t20.9%\t20.7%\n2008 or later\t32.8%\t33.0%\nGeographic state concentration (greater than 5.0%):\t\t\nCalifornia\t10.9%\t11.0%\nFlorida\t10.5%\t10.6%\nNew York\t9.2%\t9.1%\nNew Jersey\t7.0%\t6.9%\nIllinois\t6.7%\t6.6%\n", "q10k_tbl_99": "\tDecember 31 2019\nCurrent balance of loans\t16759382\nNumber of loans\t828\nWeighted average original LTV\t68.2%\nWeighted average underwritten debt service coverage ratio\t1.48x\nCurrent average loan size\t20241\nWeighted average original loan term (in months)\t125\nWeighted average current remaining term (in months)\t84\nWeighted average loan rate\t4.12%\nFirst mortgages\t100%\nGeographic state concentration (greater than 5.0%):\t\nCalifornia\t15.9%\nTexas\t12.4%\nFlorida\t6.2%\nMaryland\t5.8%\n", "q10k_tbl_100": "Quarter Ended\tQuarterly Average Balance\tEnd of Quarter Balance\tMaximum Balance at any Month-End\nSeptember 30 2020\t29190\t0\t87571\nJune 30 2020\t108529\t87571\t150445\nMarch 31 2020\t1694933\t713364\t2237399\nDecember 31 2019\t2212335\t2352102\t2352102\nSeptember 30 2019\t1776741\t1823910\t1823910\nJune 30 2019\t1749293\t1843815\t1843815\nMarch 31 2019\t1604421\t1654439\t1654439\nDecember 31 2018\t1372459\t1543577\t1543577\nSeptember 30 2018\t1144080\t1130659\t1163683\nJune 30 2018\t1230648\t1179961\t1279121\nMarch 31 2018\t1287939\t1287314\t1297949\n", "q10k_tbl_101": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tNumber of Loans\tUnpaid Principal\tCarrying Value\tNumber of Loans\tUnpaid Principal\tCarrying Value\nDistressed Residential Loans (1)\t6632\t981025\t954725\t7713\t1131855\t1098867\nOther Residential Loans (2)\t2873\t598192\t578059\t2700\t547379\t533643\n", "q10k_tbl_102": "Loan to Value at Purchase (1)\tSeptember 30 2020\tDecember 31 2019\n50.00% or less\t14.7%\t15.4%\n50.01% - 60.00%\t12.0%\t12.6%\n60.01% - 70.00%\t19.9%\t17.9%\n70.01% - 80.00%\t19.9%\t18.5%\n80.01% - 90.00%\t13.6%\t14.5%\n90.01% - 100.00%\t9.8%\t10.0%\n100.01% and over\t10.1%\t11.1%\nTotal\t100.0%\t100.0%\n", "q10k_tbl_103": "FICO Scores at Purchase\tSeptember 30 2020\tDecember 31 2019\n550 or less\t21.9%\t22.1%\n551 to 600\t19.5%\t20.4%\n601 to 650\t16.9%\t17.1%\n651 to 700\t14.8%\t14.2%\n701 to 750\t12.1%\t12.1%\n751 to 800\t10.9%\t10.4%\n801 and over\t3.9%\t3.7%\nTotal\t100.0%\t100.0%\n", "q10k_tbl_104": "Current Coupon\tSeptember 30 2020\tDecember 31 2019\n3.00% or less\t5.5%\t5.1%\n3.01% - 4.00%\t21.4%\t17.1%\n4.01% - 5.00%\t35.4%\t38.4%\n5.01% - 6.00%\t14.0%\t18.1%\n6.01% and over\t23.7%\t21.3%\nTotal\t100.0%\t100.0%\n", "q10k_tbl_105": "Delinquency Status\tSeptember 30 2020\tDecember 31 2019\nCurrent\t83.6%\t80.8%\n31 - 60 days\t4.3%\t6.4%\n61 - 90 days\t2.2%\t2.6%\n90+ days\t9.9%\t10.2%\nTotal\t100.0%\t100.0%\n", "q10k_tbl_106": "Origination Year\tSeptember 30 2020\tDecember 31 2019\n2007 or earlier\t55.5%\t59.3%\n2008 - 2016\t10.8%\t13.8%\n2017\t4.8%\t6.1%\n2018\t9.8%\t11.0%\n2019\t15.1%\t9.8%\n2020\t4.0%\t0\nTotal\t100.0%\t100.0%\n", "q10k_tbl_107": "\tMaximum Aggregate Uncommitted Principal Amount\tOutstanding Repurchase Agreements\tCarrying Value of Loans Pledged (1)\tWeighted Average Rate\tWeighted Average Months to Maturity (2)\nSeptember 30 2020\t1247483\t673787\t938572\t2.46%\t2.96\nDecember 31 2019\t1200000\t754132\t961749\t3.67%\t11.20\n", "q10k_tbl_108": "Quarter Ended\tQuarterly Average Balance\tEnd of Quarter Balance\tMaximum Balance at any Month-End\nSeptember 30 2020\t651384\t673787\t673787\nJune 30 2020\t892422\t876923\t905776\nMarch 31 2020\t731245\t715436\t744522\nDecember 31 2019\t764511\t754132\t774666\nSeptember 30 2019\t745972\t736348\t755299\nJune 30 2019\t705817\t761361\t761361\nMarch 31 2019\t595897\t619605\t619605\nDecember 31 2018\t301956\t589148\t589148\nSeptember 30 2018\t179241\t177378\t181574\nJune 30 2018\t176951\t192553\t197263\nMarch 31 2018\t150537\t149535\t153236\n", "q10k_tbl_109": "\tSeptember 30 2020\t\t\t\t\n\tCount\tFair Value (1) (2)\tInvestment Amount (2)\tWeighted Average Interest or Preferred Return Rate (3)\tWeighted Average Remaining Life (Years)\nPreferred equity investments\t47\t323536\t332556\t11.45%\t6.8\nMezzanine loans\t2\t4868\t5176\t11.58%\t30.4\nTotal\t49\t328404\t337732\t11.45%\t7.1\n", "q10k_tbl_110": "\tDecember 31 2019\t\t\t\t\n\tCount\tCarrying Amount (1) (2)\tInvestment Amount (2)\tWeighted Average Interest or Preferred Return Rate (3)\tWeighted Average Remaining Life (Years)\nPreferred equity investments\t42\t279908\t282064\t11.39%\t7.8\nMezzanine loans\t3\t6220\t6235\t11.95%\t25.8\nTotal\t45\t286128\t288299\t11.40%\t8.2\n", "q10k_tbl_111": "Combined Loan to Value at Investment\tSeptember 30 2020\tDecember 31 2019\n60.01% - 70.00%\t9.6%\t0\n70.01% - 80.00%\t19.6%\t23.4%\n80.01% - 90.00%\t69.1%\t76.6%\n90.01% - 100.00%\t1.7%\t0\nTotal\t100.0%\t100.0%\n", "q10k_tbl_112": "\t\tSeptember 30 2020\t\tDecember 31 2019\t\n\tStrategy\tOwnership Interest\tFair Value\tOwnership Interest\tFair Value\nMorrocroft Neighborhood Stabilization Fund II LP\tSingle-Family Rental Properties\t11%\t12602\t11%\t11796\nHeadlands Asset Management Fund III (Cayman) LP (Headlands Flagship Opportunity Fund Series I)\tResidential Loans\t49%\t60854\t49%\t53776\nTotal\t\t\t73456\t\t65572\n", "q10k_tbl_113": "Class of Stock\tDividend Amount Per Share\tRecord Date\tPayment Date\nCommon Stock\t0.075\tSeptember 24 2020\tOctober 26 2020\nFixed Rate Preferred Stock\t\t\t\n7.75% Series B Cumulative Redeemable Preferred Stock\t0.484\tOctober 1 2020\tOctober 15 2020\n7.875% Series C Cumulative Redeemable Preferred Stock\t0.492\tOctober 1 2020\tOctober 15 2020\nFixed-to-Floating Rate Preferred Stock\t\t\t\n8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock\t0.500\tOctober 1 2020\tOctober 15 2020\n7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock\t0.492\tOctober 1 2020\tOctober 15 2020\n", "q10k_tbl_114": "Changes in Net Interest Income\t\nChanges in Interest Rates (basis points)\tChanges in Net Interest Income\n+200\t(10868)\n+100\t(960)\n-100\t(760)\n", "q10k_tbl_115": "Fair Value Changes\t\t\nChanges in Interest Rates\tChanges in Fair Value\tNet Duration\n(basis points)\t(dollar amounts in thousands)\t\n+200\t(118890)\t2.1\n+100\t(60480)\t1.5\nBase\t\t2.6\n-100\t54018\t2.6\n", "q10k_tbl_116": "Exhibit\tDescription\n3.1\tArticles of Amendment and Restatement of the Company as amended (Incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28 2020).\n3.2\tSecond Amended and Restated Bylaws of the Company (Incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 23 2020).\n3.3\tArticles Supplementary designating the Company's 7.75% Series B Cumulative Redeemable Preferred Stock (the \"Series B Preferred Stock\") (Incorporated by reference to Exhibit 3.3 of the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on May 31 2013).\n3.4\tArticles Supplementary classifying and designating 2550000 additional shares of the Series B Preferred Stock (Incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 20 2015).\n3.5\tArticles Supplementary classifying and designating the Company's 7.875% Series C Cumulative Redeemable Preferred Stock (the \"Series C Preferred Stock\") (Incorporated by reference to Exhibit 3.5 of the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on April 21 2015).\n3.6\tArticles Supplementary classifying and designating the Company's 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the \"Series D Preferred Stock\") (Incorporated by reference to Exhibit 3.6 to the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on October 10 2017).\n3.7\tArticles Supplementary classifying and designating 2460000 additional shares of the Series C Preferred Stock (Incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 29 2019).\n3.8\tArticles Supplementary classifying and designating 2650000 additional shares of the Series D Preferred Stock (Incorporated by reference to Exhibit 3.3 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 29 2019).\n3.9\tArticles Supplementary classifying and designating the Company's 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the \"Series E Preferred Stock\") (Incorporated by reference to Exhibit 3.9 to the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on October 15 2019).\n3.10\tArticles Supplementary classifying and designating 3000000 additional shares of the Series E Preferred Stock (Incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on November 27 2019).\n4.1\tForm of Common Stock Certificate (Incorporated by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-11 (Registration No. 333-111668) filed with the Securities and Exchange Commission on June 18 2004).\n4.2\tForm of Certificate representing the Series B Preferred Stock Certificate (Incorporated by reference to Exhibit 3.4 of the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on May 31 2013).\n4.3\tForm of Certificate representing the Series C Preferred Stock (Incorporated by reference to Exhibit 3.6 of the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on April 21 2015).\n4.4\tForm of Certificate representing the Series D Preferred Stock (Incorporated by reference to Exhibit 3.7 to the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on October 10 2017).\n", "q10k_tbl_117": "4.5\tForm of Certificate representing the Series E Preferred Stock (Incorporated by reference to Exhibit 3.10 to the Company's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on October 15 2019).\n4.6\tIndenture dated January 23 2017 between the Company and U.S. Bank National Association as trustee (Incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 23 2017).\n4.7\tFirst Supplemental Indenture dated January 23 2017 between the Company and U.S. Bank National Association as trustee (Incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 23 2017).\n4.8\tForm of 6.25% Senior Convertible Note Due 2022 of the Company (Incorporated by reference to Exhibit 4.3 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 23 2017).\n\tCertain instruments defining the rights of holders of long-term debt securities of the Company and its subsidiaries are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Company hereby undertakes to furnish to the Securities and Exchange Commission upon request copies of any such instruments.\n", "q10k_tbl_118": "31.1\tCertification of the Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of the Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1*\tCertification Pursuant to 18 U.S.C. 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101.INS**\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH**\tTaxonomy Extension Schema Document\n101.CAL**\tTaxonomy Extension Calculation Linkbase Document\n101.DEF XBRL**\tTaxonomy Extension Definition Linkbase Document\n101.LAB**\tTaxonomy Extension Label Linkbase Document\n101.PRE**\tTaxonomy Extension Presentation Linkbase Document\n104\tThe cover page for the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30 2020 (formatted in Inline XBRL and contained in Exhibit 101).\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_9"}None
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1A. Risk Factors
Item 6. Exhibits
Exhibits
EX-31.1
ex311september2020.htm
EX-31.2
ex312september2020.htm
EX-32.1
ex321september2020.htm
New York Mortgage Trust Earnings 2020-09-30
Balance Sheet
Income Statement
Cash Flow
Assets, Equity
Rev, G Profit, Net Income
Ops, Inv, Fin
nymt-20200930
December 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☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______ to ____________
Commission file number 001-32216
NEW YORK MORTGAGE TRUST, INC.
(Exact Name of Registrant as Specified in Its Charter)
Maryland
47-0934168
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification No.)
90 Park Avenue, New York, New York10016
(Address of Principal Executive Office) (Zip Code)
(212) 792-0107
(Registrant’s Telephone Number, Including Area Code)
Title of Each Class
Trading Symbols)
Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share
NYMT
NASDAQ
Stock Market
7.75% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference
NYMTP
NASDAQ
Stock Market
7.875% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference
NYMTO
NASDAQ
Stock Market
8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference
NYMTN
NASDAQ
Stock Market
7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference
NYMTM
NASDAQ
Stock Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒
The number of shares of the registrant’s common stock, par value $0.01 per share, outstanding on November 6, 2020 was 377,744,476.
Investment securities available for sale, at fair value
$
603,697
$
2,006,140
Residential loans, at fair value
2,822,789
2,758,640
Residential loans, net
—
202,756
Investments in unconsolidated entities
218,706
189,965
Preferred equity and mezzanine loan investments
183,154
180,045
Multi-family loans held in securitization trusts, at fair value
—
17,816,746
Derivative assets
—
15,878
Cash and cash equivalents
649,822
118,763
Goodwill
—
25,222
Receivables and other assets
142,945
169,214
Total Assets (1)
$
4,621,113
$
23,483,369
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Repurchase agreements
$
672,519
$
3,105,416
Securitized debt
88,791
—
Multi-family collateralized debt obligations, at fair value
—
16,724,451
Residential collateralized debt obligations, at fair value
1,077,980
1,052,829
Residential collateralized debt obligations
268,820
40,429
Convertible notes
134,720
132,955
Subordinated debentures
45,000
45,000
Accrued expenses and other liabilities
79,900
177,260
Total liabilities (1)
2,367,730
21,278,340
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, par value $0.01 per share, 30,900,000 shares authorized, 20,872,888 shares issued and outstanding ($521,822 aggregate liquidation preference)
504,765
504,765
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 377,744,476 and 291,371,039 shares issued and outstanding, respectively
3,777
2,914
Additional paid-in capital
2,340,395
1,821,785
Accumulated other comprehensive (loss) income
(11,938)
25,132
Accumulated deficit
(583,616)
(148,863)
Company's stockholders' equity
2,253,383
2,205,733
Non-controlling interest in consolidated variable interest entities
—
(704)
Total equity
2,253,383
2,205,029
Total Liabilities and Stockholders' Equity
$
4,621,113
$
23,483,369
(1)Our condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company is the primary beneficiary of these VIEs. As of September 30, 2020 and December 31, 2019, assets of consolidated VIEs totaled $1,852,657 and $19,270,384, respectively, and the liabilities of consolidated VIEs totaled $1,440,936 and $17,878,314, respectively. See Note 9for further discussion.
The accompanying notes are an integral part of the condensed consolidated financial statements.