THE FREMF TRUSTS (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Assets
Multi-family mortgage loans held in securitization trusts		$ 1,620,066,565	$ 1,750,294,430
Total assets	[1]	2,694,357,789	2,922,209,557
Liabilities and Equity
Multi-family securitized debt obligations		1,536,502,579	1,670,573,456
Liabilities	[1]	2,499,512,894	2,709,411,427
Equity		194,844,895	212,798,130
Total liabilities and equity		2,694,357,789	2,922,209,557
FREMF trusts [Member]
Assets
Multi-family mortgage loans held in securitization trusts		1,620,066,565	1,750,294,430
Receivables		5,634,804	6,012,642
Total assets		1,625,701,369	1,756,307,072
Liabilities and Equity
Multi-family securitized debt obligations		1,536,502,579	1,670,573,456
Payables		5,424,655	5,800,065
Liabilities		1,541,927,234	1,676,373,521
Equity		83,774,135	79,933,551
Total liabilities and equity		$ 1,625,701,369	$ 1,756,307,072

[1] The Company’s 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 June 30, 2015 and December 31, 2014, assets of consolidated VIEs totaled $2,099,907,248 and $2,389,784,101, respectively, and the liabilities of consolidated VIEs totaled $1,899,078,499 and $2,180,936,221, respectively