RESIDENTIAL MORTGAGE LOAN SECURITIZATION TRUSTS (Tables)

3 Months Ended

Mar. 31, 2019

Variable Interest Entity [Line Items]

Condensed Consolidated Statements of Operations

The condensed consolidated statements of operations of the FREMF trusts for the three months ended March 31, 2019 and March 31, 2018 are as follows:

Statements of Operations	Three Months Ended March 31, 2019		Three Months Ended March 31, 2018
Interest income	$	78,361	$	13,227,188
Interest expense	—		12,526,295
Net interest income	$	78,361	$	700,893
General and administrative fees	—		(623,254		)
Unrealized gain (loss) on multi-family loans held in securitization trusts	694,339		(1,355,774		)
Net income (loss)	$	772,700	$	(1,278,135	)

Residential mortgage loans

Variable Interest Entity [Line Items]

Condensed Consolidated Statements of Operations

The condensed consolidated statements of operations of the residential mortgage loan securitization trusts for the three months ended March 31, 2018 are as follows:

Statements of Operations	Three Months Ended March 31, 2018
Interest income	$	1,147,641
Interest expense	920,057
Net interest income	$	227,584
General and administrative fees	(6,928		)
Unrealized gain (loss) on residential loans held in securitization trusts	(255,403		)
Net income (loss)	$	(34,747	)