Public Housing Capital Fund Trusts Public Housing Capital Fund Trusts (Tables)

3 Months Ended

Mar. 31, 2015

Public Housing Capital Fund Trusts [Abstract]

Marketable Securities [Table Text Block]

The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on March 31, 2015 and December 31, 2014:

	Average Remaining Lives (Years)	Investment Rating	Weighted Average Interest Rate over Life		Principal Outstanding March 31, 2015
Public Housing Capital Fund Trust Certificate I	10.00	AA-	5.30	%	$	25,980,780
Public Housing Capital Fund Trust Certificate II	9.47	A+	4.28	%	12,429,186
Public Housing Capital Fund Trust Certificate III	10.56	BBB	5.42	%	20,898,432
Total Public Housing Capital Fund Trust Certificates					$	59,308,398

	Average Remaining Lives (Years)	Investment Rating	Weighted Average Interest Rate over Life		Principal Outstanding December 31, 2014
Public Housing Capital Fund Trust Certificate I	10.25	AA-	5.33	%	$	25,980,780
Public Housing Capital Fund Trust Certificate II	9.72	A+	4.28	%	12,429,186
Public Housing Capital Fund Trust Certificate III	10.81	BBB	5.42	%	20,898,432
Total Public Housing Capital Fund Trust Certificates					$	59,308,398

Description of certain terms of the Company’s MBS is as follows:

Agency Rating of MBS	Principal Outstanding March 31, 2015		Weighted Average Maturity Date	Weighted Average Coupon Interest Rate
“AAA”	$	5,000,000	July 1, 2032	4.60	%
“AA”	9,765,000		July 9, 2036	4.20	%
	$	14,765,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The Company had the following investments in the PHC Certificates on March 31, 2015 and December 31, 2014:

Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts		Unrealized Gain		Unrealized Loss			Estimated Fair Value at March 31, 2015
Public Housing Capital Fund Trust I	$	27,379,187	$	484,160	$	—		$	27,863,347
Public Housing Capital Fund Trust II	12,011,169		—		(40,868		)	11,970,301
Public Housing Capital Fund Trust III	20,483,912		—		(44,619		)	20,439,293
	$	59,874,268	$	484,160	$	(85,487	)	$	60,272,941

Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts		Unrealized Gain		Unrealized Loss		Estimated Fair Value at December 31, 2014
Public Housing Capital Fund Trust Certificate I	$	27,414,100	$	933,789	$	—	$	28,347,889
Public Housing Capital Fund Trust Certificate II	11,999,721		152,293		—		12,152,014
Public Housing Capital Fund Trust Certificate III	20,474,100		289,120		—		20,763,220
	$	59,887,921	$	1,375,202	$	—	$	61,263,123