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Note 10 - Residential Collateralized Debt Obligations
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

10.              Residential Collateralized Debt Obligations


The Company’s Residential CDOs, which are recorded as liabilities on the Company’s condensed consolidated balance sheets, are secured by ARM loans pledged as collateral, which are recorded as assets of the Company. As of September 30, 2014 and December 31, 2013, the Company had Residential CDOs outstanding of $148.3 million and $158.4 million, respectively. As of September 30, 2014 and December 31, 2013, the current weighted average interest rate on these Residential CDOs was 0.54% and 0.55%, respectively. The Residential CDOs are collateralized by ARM loans with a principal balance of $155.3 million and $165.2 million at September 30, 2014 and December 31, 2013, respectively. The Company retained the owner trust certificates, or residual interest for three securitizations, and, as of September 30, 2014 and December 31, 2013, had a net investment in the residential securitization trusts of $5.8 million and $6.6 million, respectively.