THE FREMF TRUSTS (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Statements of Operations of the FREMF Trusts

The condensed consolidated statement of operations of the FREMF trusts for the three and nine months ended September 30, 2019 are as follows:

Statements of Operations	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Interest income	$	—	$	78,361
Net interest income	$	—	$	78,361
Realized (loss) on multi-family loans held in securitization trusts	—		(709,439)
Unrealized gain on multi-family loans held in securitization trusts	—		694,339
Net income (loss)	$	—	$	63,261