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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The changes in the carrying amount of goodwill by reportable segments were as follows:
Portfolio Servicing
Active Management
Originations
Goodwill at January 1, 2023$— $— $— 
Additions— — 140,287,000 
Goodwill at September 30, 2023$— $— $140,287,000 
Schedule of Finite-Lived Intangible Assets
Intangible Assets Acquired comprised of the following:
Asset TypeFair ValueUseful LifeValuation Methodology
Customer Relationships - Agents$12,600,000 5 yearsMulti-period excess-earnings method
Customer Relationships - Financial Relationships11,000,000 8 yearsMulti-period excess-earnings method
Internally Developed and Used Technology—APA1,600,000 2 yearsRelief from Royalty Method
Internally Developed and Used Technology—Market Place100,000 3 yearsReplacement Cost Method
Trade Name900,000 IndefiniteRelief from Royalty Method
Non-Compete Agreements4,000,000 2 yearsWith or Without Method
State Insurance Licenses2,700,000 IndefiniteReplacement Cost Method
$32,900,000 
Intangible assets and related accumulated amortization as of September 30, 2023 and December 31,2022 are as follows:
September 30, 2023
Definite Lived Intangible Assets:
Gross Value Accumulated AmortizationNet Book Value
Customer Relationships - Agents$12,600,000 $630,000 $11,970,000 
Customer Relationships - Financial Relationships11,000,000 343,750 10,656,250 
Internally Developed and Used Technology—APA1,600,000 200,000 1,400,000 
Internally Developed and Used Technology—Market Place100,000 8,333 91,667 
Non-Compete Agreements4,000,000 500,000 3,500,000 
Balance at September 30, 2023
$29,300,000 $1,682,083 $27,617,917 
Indefinite Lived Intangible Assets:
Trade Name900,000 — 900,000 
State Insurance Licenses2,700,000 — 2,700,000 
Total Intangible Asset Balance at September 30, 2023
$32,900,000 $1,682,083 $31,217,917 
Schedule of Indefinite-Lived Intangible Assets
Intangible Assets Acquired comprised of the following:
Asset TypeFair ValueUseful LifeValuation Methodology
Customer Relationships - Agents$12,600,000 5 yearsMulti-period excess-earnings method
Customer Relationships - Financial Relationships11,000,000 8 yearsMulti-period excess-earnings method
Internally Developed and Used Technology—APA1,600,000 2 yearsRelief from Royalty Method
Internally Developed and Used Technology—Market Place100,000 3 yearsReplacement Cost Method
Trade Name900,000 IndefiniteRelief from Royalty Method
Non-Compete Agreements4,000,000 2 yearsWith or Without Method
State Insurance Licenses2,700,000 IndefiniteReplacement Cost Method
$32,900,000 
Intangible assets and related accumulated amortization as of September 30, 2023 and December 31,2022 are as follows:
September 30, 2023
Definite Lived Intangible Assets:
Gross Value Accumulated AmortizationNet Book Value
Customer Relationships - Agents$12,600,000 $630,000 $11,970,000 
Customer Relationships - Financial Relationships11,000,000 343,750 10,656,250 
Internally Developed and Used Technology—APA1,600,000 200,000 1,400,000 
Internally Developed and Used Technology—Market Place100,000 8,333 91,667 
Non-Compete Agreements4,000,000 500,000 3,500,000 
Balance at September 30, 2023
$29,300,000 $1,682,083 $27,617,917 
Indefinite Lived Intangible Assets:
Trade Name900,000 — 900,000 
State Insurance Licenses2,700,000 — 2,700,000 
Total Intangible Asset Balance at September 30, 2023
$32,900,000 $1,682,083 $31,217,917 
Schedule of Estimated Annual Amortization for Intangible Assets
Estimated annual amortization of intangible assets for the next five years ending December 31 and thereafter is as follows:
Remainder of 2023
$1,682,083 
20246,728,333 
20255,328,333 
20263,911,667 
20273,895,000 
Thereafter
6,072,501 
Total
$27,617,917