RESIDENTIAL MORTGAGE LOAN SECURITIZATION TRUSTS (Tables) - Residential Mortgage [Member]

3 Months Ended

Mar. 31, 2016

Variable Interest Entity [Line Items]

Condensed Balance Sheet [Table Text Block]

The condensed consolidated balance sheet of the residential mortgage loan securitization trusts at March 31, 2016 and December 31, 2015 is set out below:

Balance Sheets	March 31, 2016		December 31, 2015
Assets
Residential mortgage loans held in securitization trusts	$	396,542,860	$	411,881,097
Receivables		1,360,176		1,446,120
Total assets	$	397,903,036	$	413,327,217
Liabilities and Equity
Residential securitized debt obligations	$	367,958,982	$	380,638,423
Payables		1,084,025		1,153,053
	$	369,043,007	$	381,791,476
Equity		28,860,029		31,535,741
Total liabilities and equity	$	397,903,036	$	413,327,217

Condensed Income Statement [Table Text Block]

The condensed consolidated statements of operations of the residential mortgage loan securitization trusts at March 31, 2016 and December 31, 2015 are as follows:

Statements of Operation	Three Months Ended March 31, 2016		Three Months Ended March 31, 2015
Interest income	$	4,152,406	$	5,891,779
Interest expense		3,178,442		3,655,469
Net interest income	$	973,964	$	2,236,310
General and administrative fees		(132,418)		(241,195)
Unrealized gain (loss) on multi-family loans held in securitization trusts		(2,554,077)		(3,356,407)
Net Income	$	(1,712,531)	$	(1,361,292)

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

The geographic concentrations of credit risk exceeding 5% of the total loan balances related to the residential mortgage loan securitization trusts as of March 31, 2016 are as follows:

	March 31, 2016
California		47.9	%
Washington		12.7	%
Massachusetts		5.4	%