SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 19 – SUBSEQUENT EVENTS

On April 30, 2015, the Company completed its third prime jumbo securitization, and the first using its proprietary program, OAKS Mortgage Trust Series 2015-1. FOAC sold approximately $267 million in residential mortgage loans into the securitization and the Company purchased all of the subordinated Class B certificates and an interest-only security, while retaining all the MSRs on the loans FOAC contributed. The Company does not anticipate consolidating the assets and liabilities of this securitization trust.