MSRs (Tables)

3 Months Ended

Mar. 31, 2016

Mortgage Servicing Rights MSR Disclosure [Abstract]

Schedule Of Mortgage Service Rights Activity [Table Text Block]

The following table presents the Company’s MSR activity as of March 31, 2016 and December 31, 2015:

	March 31, 2016			December 31, 2015
Balance at beginning of period	$	4,268,673		$	-
MSRs retained from sales to securitizations		-			4,940,630
Changes in fair value due to:
Changes in valuation inputs or assumptions used in valuation model		(656,314)			(217,663)
Other changes to fair value ⁽¹⁾		(243,974)			(454,294)
Balance at end of period	$	3,368,385		$	4,268,673

Loans associated with MSRs ⁽²⁾	$	445,911,667		$	472,886,810
MSR values as percent of loans ⁽³⁾		0.76	%		0.90	%

(1)	Amounts represent changes due to realization of expected cash flows

(2)	Amounts represent the principal balance of loans associated with MSRs outstanding at December 31, 2015

(3)	Amounts represent the carrying value of MSRs at March 31, 2016 and December 31, 2015 divided by the outstanding balance of the loans associated with these MSRs

Schedule Of Components Of Servicing Income [Table Text Block]

The following table presents the components of servicing income recorded on the Company’s statement of operation for the three months ended March 31, 2016 and March 31, 2015:

	Three Months Ended		Three Months Ended
	March 31, 2016		March 31, 2015
Servicing income, net	$	223,678	$	-
Income from MSRs, net	$	223,678	$	-