RESIDENTIAL MORTGAGE LOAN SECURITIZATION TRUSTS (Tables)

12 Months Ended

Dec. 31, 2016

Balance Sheet

Geographic Concentrations [Table Text Block]

The geographic concentrations of credit risk exceeding 5% of the total loan balances related to the mortgage loans held-for-sale as of December 31, 2016 are as follows:

	December 31, 2016			December 31, 2015
Texas		56.0	%		20.7	%
Arizona		-			16.8	%
Massachusetts		-			12.8	%
California		24.4	%		11.9	%
Minnesota		-			9.9	%
New York		-			6.6	%
Pennsylvania		-			5.9	%
North Carolina		19.6	%		5.5	%
Illinois		-			5.1	%

Residential Mortgage [Member]

Balance Sheet

Condensed Balance Sheet [Table Text Block]

The consolidated balance sheets of the residential mortgage loan securitization trusts at December 31, 2016 and December 31, 2015 are set out below:

Balance Sheets	December 31, 2016		December 31, 2015
Assets
Residential mortgage loans held in securitization trusts	$	141,126,720	$	411,881,097
Receivables		471,146		1,446,120
Total assets	$	141,597,866	$	413,327,217
Liabilities and Equity
Residential securitized debt obligations	$	134,846,348	$	380,638,423
Payables		376,697		1,153,053
	$	135,223,045	$	381,791,476
Equity		6,374,821		31,535,741
Total liabilities and equity	$	141,597,866	$	413,327,217

Condensed Income Statement [Table Text Block]

The consolidated statements of operations of the residential mortgage loan securitization trusts for the years ended December 31, 2016 and December 31, 2015 and for the period from date of consolidation to December 31, 2014 are set out below:

Statements of Operations	December 31, 2016			December 31, 2015			For the period from date of consolidation to December 31, 2014*
Interest income	$	10,585,191		$	19,986,204		$	4,438,633
Interest expense		(8,117,402	)		(13,156,912	)		(3,575,168	)
Net interest income	$	2,467,789		$	6,829,292		$	863,465
General and administrative fees		(266,957	)		(635,547	)		(44,267	)
Unrealized gain (loss) on residential mortgage loans held in securitization trusts		404,720			(8,153,474	)		3,059,647
Net income (loss)	$	2,605,552		$	(1,959,729	)	$	3,878,845

Geographic Concentrations [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 at December 31, 2016 are as follows:

	December 31, 2016			December 31, 2015
California		37.6	%		45.5	%
Washington		15.4	%		13.3	%
Massachusetts		8.4	%		6.4	%
Florida		5.7	%		-
Tennessee		4.8	%		-