XML 45 R32.htm IDEA: XBRL DOCUMENT v3.19.3
THE FREMF TRUSTS (Tables)
 9 Months Ended
Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Consolidated Balance Sheets of the FREMF trusts
The condensed consolidated balance sheets of the FREMF trusts at December 31, 2018 are set out below:

Balance SheetsDecember 31, 2018
Assets 
Receivables$24,357,335  
Total assets$24,357,335  
Liabilities and Equity 
Multi-family securitized debt obligations$19,231,331  
Payables363,855  
Total liabilities$19,595,186  
Equity4,762,149  
Total liabilities and equity$24,357,335  
Condensed Consolidated Statements of Operations of the FREMF Trusts
The condensed consolidated statements of operations of the FREMF trusts for the three and nine months ended September 30, 2019 and September 30, 2018 are as follows:
Statements of OperationsThree Months Ended
September 30, 2019		Three Months Ended
September 30, 2018
Interest income$—  $336,824  
Interest expense—  237,980  
Net interest income$—  $98,844  
General and administrative fees—  (56,186) 
Unrealized gain (loss) on multi-family loans held in securitization trusts—  957,549  
Net income (loss)$—  $1,000,207  

Statements of OperationsNine Months Ended September 30, 2019Nine Months Ended September 30, 2018
Interest income$78,361  $20,540,942  
Interest expense—  19,404,532  
Net interest income$78,361  $1,136,410  
General and administrative fees—  (934,496) 
Unrealized gain (loss) on multi-family loans held in securitization trusts694,339  (5,861,373) 
Net income (loss)$772,700  $(5,659,459)