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Loans and Investments (Details)
3 Months Ended 12 Months Ended
Dec. 31, 2015
USD ($)
item
Jun. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
item
Dec. 31, 2014
USD ($)
item
Dec. 31, 2013
USD ($)
Mar. 31, 2015
USD ($)
Dec. 31, 2012
USD ($)
Loans and Investments              
Loans and investments, gross $ 1,545,126,045   $ 1,545,126,045 $ 1,587,429,498      
Unearned revenue (8,030,129)   (8,030,129) (12,466,528)      
Allowance for loan losses (86,761,575)   (86,761,575) (115,487,320) $ (122,277,411)   $ (161,706,313)
Loans and investments, net $ 1,450,334,341   $ 1,450,334,341 $ 1,459,475,650      
Percent of Total 100.00%   100.00% 100.00%      
Loan Count | item     128 139      
Wtd. Avg. Pay Rate (as a percent)     5.63% 5.45%      
Wtd. Avg. Remaining Months to Maturity     17 months 21 days 22 months 9 days      
First Dollar LTV Ratio (as percent) 7.00%   7.00% 13.00%      
Last Dollar LTV Ratio (as percent) 76.00%   76.00% 76.00%      
Number of portfolio segments | item     1        
Gain on extinguishment of debt, net of fees and expenses         4,930,772    
Other interest income     $ 7,884,344        
Employee compensation and benefits     17,500,457 $ 13,978,223 $ 12,042,332    
$87 million warehouse repurchase facility              
Loans and Investments              
Committed line           $ 87,000,000  
Debt repaid   $ 87,000,000          
Gain on extinguishment of debt, net of fees and expenses   6,700,000          
Other interest income   7,900,000          
Employee compensation and benefits   $ 1,200,000          
First mortgage              
Loans and Investments              
Defaulted mortgage acquired           $ 116,000,000  
First mortgage | Apartment building | Other assets.              
Loans and Investments              
Number of co-operative apartments repossessed | item 3            
Fair value of the co-operative apartments acquired through foreclosure $ 2,200,000   2,200,000        
Higher credit risk              
Loans and Investments              
Loans and investments, gross $ 154,700,000   $ 154,700,000 $ 189,400,000      
Last Dollar LTV Ratio (as percent) 94.00%   94.00% 94.00%      
Credit risk concentration              
Loans and Investments              
Loans and investments, gross $ 1,545,126,045   $ 1,545,126,045 $ 1,587,429,498      
Percent of Total 100.00%   100.00% 100.00%      
First Dollar LTV Ratio (as percent) 7.00%   7.00% 13.00%      
Last Dollar LTV Ratio (as percent) 76.00%   76.00% 76.00%      
Credit risk concentration | Minimum              
Loans and Investments              
Credit risk individual ratings | item     1        
Credit risk concentration | Maximum              
Loans and Investments              
Credit risk individual ratings | item     5        
Credit risk concentration | Risk rating, three              
Loans and Investments              
Credit risk individual ratings | item     3        
Credit risk concentration | Risk rating, four              
Loans and Investments              
Credit risk individual ratings | item     4        
Credit risk concentration | Risk rating, five              
Loans and Investments              
Credit risk individual ratings | item     5        
Credit risk concentration | Risk rating, 3.5              
Loans and Investments              
Credit risk individual ratings | item     3.5        
Credit risk concentration | Risk rating, 4.5              
Loans and Investments              
Credit risk individual ratings | item     4.5        
Total assets | Credit risk concentration              
Loans and Investments              
Loan Count | item     22 31      
Number of different borrowers | item     5 5      
Concentration risk, percentage     22.00% 23.00%      
Bridge Loans              
Loans and Investments              
Loans and investments, gross $ 1,353,132,435   $ 1,353,132,435 $ 1,273,439,238      
Percent of Total 88.00%   88.00% 80.00%      
Loan Count | item     105 101      
Wtd. Avg. Pay Rate (as a percent)     5.48% 5.19%      
Wtd. Avg. Remaining Months to Maturity     16 months 21 days 19 months 24 days      
First Dollar LTV Ratio (as percent) 0.00%   0.00% 0.00%      
Last Dollar LTV Ratio (as percent) 75.00%   75.00% 74.00%      
Mezzanine Loans              
Loans and Investments              
Loans and investments, gross $ 40,390,905   $ 40,390,905 $ 76,392,650      
Percent of Total 3.00%   3.00% 5.00%      
Loan Count | item     11 17      
Wtd. Avg. Pay Rate (as a percent)     8.19% 9.78%      
Wtd. Avg. Remaining Months to Maturity     32 months 27 days 37 months 3 days      
First Dollar LTV Ratio (as percent) 35.00%   35.00% 47.00%      
Last Dollar LTV Ratio (as percent) 83.00%   83.00% 81.00%      
Junior participation loans              
Loans and Investments              
Loans and investments, gross $ 62,256,582   $ 62,256,582 $ 104,091,952      
Percent of Total 4.00%   4.00% 7.00%      
Loan Count | item     2 4      
Wtd. Avg. Pay Rate (as a percent)     4.50% 4.62%      
Wtd. Avg. Remaining Months to Maturity     11 months 6 days 12 months 9 days      
First Dollar LTV Ratio (as percent) 85.00%   85.00% 86.00%      
Last Dollar LTV Ratio (as percent) 87.00%   87.00% 88.00%      
Preferred equity investments              
Loans and Investments              
Loans and investments, gross $ 89,346,123   $ 89,346,123 $ 133,505,658      
Percent of Total 5.00%   5.00% 8.00%      
Loan Count | item     10 17      
Wtd. Avg. Pay Rate (as a percent)     7.52% 6.11%      
Wtd. Avg. Remaining Months to Maturity     30 months 15 days 45 months 15 days      
First Dollar LTV Ratio (as percent) 43.00%   43.00% 62.00%      
Last Dollar LTV Ratio (as percent) 80.00%   80.00% 84.00%