THE FREMF TRUSTS (Details) - USD ($)		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Assets
Multi-family mortgage loans held in securitization trusts	[1]	$ 1,222,905,433		$ 1,449,774,383
Total assets	[1]	2,299,601,203		2,498,366,661
Liabilities and Equity
Multi-family securitized debt obligations	[1]	1,204,583,678		1,364,077,012
Liabilities	[1]	2,157,134,338		2,320,872,133
Equity		142,466,865	[1]	177,494,528	[1]	$ 212,798,130	$ 113,925,362
Total liabilities and equity	[1]	2,299,601,203		2,498,366,661
FREMF trusts [Member]
Assets
Multi-family mortgage loans held in securitization trusts		1,222,905,433		1,449,774,383
Receivables		4,617,642		5,380,956
Total assets		1,227,523,075		1,455,155,339
Liabilities and Equity
Multi-family securitized debt obligations		1,204,583,678		1,364,077,012
Payables		4,597,357		5,047,777
Liabilities		1,209,181,035		1,369,124,789
Equity		18,342,040		86,030,550
Total liabilities and equity		$ 1,227,523,075		$ 1,455,155,339

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIE's) as the Company is the primary beneficiary of these VIEs. As of December 31, 2016 and December 31, 2015, assets of consolidated VIEs totaled $1,369,120,941 and $1,868,482,556, respectively, and the liabilities of consolidated VIEs totaled $1,344,404,080 and $1,750,916,265, respectively