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SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE | 12 Months Ended
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Dec. 31, 2016
SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE |
SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE | SCHEDULE IV MORTGAGE LOANS RECEIVABLE ON REAL ESTATE (in thousands)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Principal |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amount of |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Carrying |  | Loans |
|  |  |  |  |  |  |  |  |  |  |  |  | Current |  |  |  |  | Amount of |  | Subject to |
|  | (Unaudited) |  |  |  |  |  |  |  |  | Monthly |  | Face |  | Mortgages |  | Delinquent |
|  | Number of |  |  |  | Final |  | Balloon |  | Debt |  | Amount of |  | December 31, |  | Principal or |
State |  | Properties |  | Units/Beds(3) |  | Interest Rate(1) |  | Maturity Date |  | Amount(2) |  | Service |  | Mortgages |  | 2016 |  | Interest |
MI |  | 15 |  | 2,102 |  | 9.53% |  | 2043 |  | $ | 153,770 |  | $ | 1,427 |  | $ | 175,083 |  | $ | 180,940 |  | $ | — |
MI |  | 1 |  | 157 |  | 9.41% |  | 2045 |  |  | 8,825 |  |  | 77 |  |  | 9,806 |  |  | 9,872 |  |  | — |
MI |  | 2 |  | 273 |  | 9.41% |  | 2045 |  |  | 13,920 |  |  | 120 |  |  | 15,000 |  |  | 15,565 |  |  | — |
MI |  | 2 |  | 216 |  | 9.41% |  | 2020 |  |  | 7,750 |  |  | 62 |  |  | 7,750 |  |  | 7,765 |  |  |  |
Various |  | 11 |  | 555 |  | 7.32%-13.95% |  | 2017-2019 |  |  | 16,746 |  |  | 216 |  |  | 20,781 |  |  | 15,659 |  |  | — |
|  | 31 | (4) | 3,303 |  |  |  |  |  | $ | 201,011 |  | $ | 1,902 |  | $ | 228,420 |  | $ | 229,801 |  | $ | — |
| (1) |  | Represents current stated interest rate. Generally, the loans have 20 year to 30‑year amortization with principal and interest payable at varying amounts over the life to maturity with annual interest adjustments through specified fixed rate increases effective either on the first anniversary or calendar year of the loan.
| (2) |  | Balloon payment is due upon maturity.
| (3) |  | This number is based upon unit/bed counts shown on operating licenses provided to us by borrowers or units/beds as stipulated by mortgage documents. We have found during the years that these numbers often differ, usually not materially, from units/beds in operation at any point in time. The differences are caused by such things as operators converting a patient/resident room for alternative uses, such as offices or storage, or converting a multi‑patient room/unit into a single patient room/unit. We monitor our properties on a routine basis through site visits and reviews of current licenses. In an instance where such change would cause a de‑licensing of beds or in our opinion impact the value of the property, we would take action against the borrower to preserve the value of the property/collateral.
| (4) |  | Includes 11 first‑lien mortgage loans as follows:
Number of Loans |  | Original loan amounts |
4 |  |  | $ 500 - $2,000 |
0 |  |  | $2,001 - $3,000 |
1 |  |  | $3,001 - $4,000 |
0 |  |  | $4,001 - $5,000 |
1 |  |  | $5,001 - $6,000 |
1 |  |  | $6,001 - $7,000 |
4 |  |  | $7,001 + |
Mortgage loans receivable activity for the years ended December 31, 2016, 2015 and 2014 is as follows:
Balance— December 31, 2013 |  | $ | 165,444
New mortgage loans |  |  | 3,027
Other additions |  |  | 6,347
Amortization of mortgage premium |  |  | (5)
Collections of principal |  |  | (9,155)
Foreclosures |  |  | —
Loan loss reserve |  |  | (2)
Other deductions |  |  | —
Balance— December 31, 2014 |  |  | 165,656
New mortgage loans |  |  | 60,209
Other additions |  |  | 6,925
Land conveyance |  |  | 670
Amortization of mortgage premium |  |  | (6)
Collections of principal |  |  | (15,408)
Foreclosures |  |  | —
Loan loss reserve |  |  | (517)
Other deductions |  |  | —
Balance— December 31, 2015 |  |  | 217,529
New mortgage loans |  |  | 13,250
Other additions |  |  | 7,435
Amortization of mortgage premium |  |  | (10)
Collections of principal |  |  | (8,278)
Foreclosures |  |  | —
Loan loss reserve |  |  | (125)
Other deductions |  |  | —
Balance— December 31, 2016 |  | $ | 229,801

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- Definition The entire disclosure for mortgage loans on real estate, this includes the supplemental information pertaining to each mortgage loan receivable that equals or exceeds three percent of the carrying amount of mortgages. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=6589523&loc=d3e617274-123014 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule IV) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 + Details
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