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NOTES AND INTEREST RECEIVABLE | 9 Months Ended
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Sep. 30, 2016
Receivables [Abstract] |
NOTES AND INTEREST RECEIVABLE | NOTE 3. NOTES AND INTEREST RECEIVABLE A portion of our assets are invested in mortgage notes receivable, principally secured by real estate. We may originate mortgage loans in conjunction with providing purchase money financing of property sales. Notes receivable are generally collateralized by real estate or interests in real estate and guarantees, unless noted otherwise, are so secured. Management intends to service and hold for investment the mortgage notes in our portfolio. A majority of the notes receivable provide for principal to be paid at maturity. Below is a summary of our notes receivable as of September 30, 2016 (dollars in thousands):
Borrower |  | Maturity Date |  |  | Interest Rate |  |  | Amount |  |  | Security
Performing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
H198, LLC (Las Vegas Land) |  |  | 01/20 |  |  |  | 12.00 | % |  | $ | 5,907 |  |  | Secured
Leman Development, Ltd (2) |  |  | N/A |  |  |  | 0.00 | % |  |  | 1,500 |  |  | Unsecured
One Realco Corporation (1,2) |  |  | 01/17 |  |  |  | 3.00 | % |  |  | 7,000 |  |  | Unsecured
Oulan-Chikh Family Trust |  |  | 03/21 |  |  |  | 8.00 | % |  |  | 174 |  |  | Secured
Realty Advisors Management, Inc. (1) |  |  | 12/16 |  |  |  | 2.28 | % |  |  | 20,387 |  |  | Unsecured
Unified Housing Foundation, Inc. (Cliffs of El Dorado) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,097 |  |  | Secured
Unified Housing Foundation, Inc. (Echo Station) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 1,481 |  |  | Secured
Unified Housing Foundation, Inc. (Inwood on the Park) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 5,059 |  |  | Secured
Unified Housing Foundation, Inc. (Kensington Park) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 3,933 |  |  | Secured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,000 |  |  | Secured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 9,101 |  |  | Secured
Unified Housing Foundation, Inc. (Limestone Canyon) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,653 |  |  | Secured
Unified Housing Foundation, Inc. (Limestone Canyon) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 4,640 |  |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 1,953 |  |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 6,000 |  |  | Secured
Unified Housing Foundation, Inc. (Parkside Crossing) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,272 |  |  | Secured
Unified Housing Foundation, Inc. (Reserve at White Rock Phase I) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,485 |  |  | Secured
Unified Housing Foundation, Inc. (Reserve at White Rock Phase II) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 2,555 |  |  | Secured
Unified Housing Foundation, Inc. (Sendero Ridge) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 4,491 |  |  | Secured
Unified Housing Foundation, Inc. (Sendero Ridge) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 4,812 |  |  | Secured
Unified Housing Foundation, Inc. (Timbers of Terrell) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 1,323 |  |  | Secured
Unified Housing Foundation, Inc. (Tivoli) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 7,966 |  |  | Secured
Unified Housing Foundation, Inc. (Trails at White Rock) (1) |  |  | 12/32 |  |  |  | 12.00 | % |  |  | 3,815 |  |  | Secured
Unified Housing Foundation, Inc. (1) |  |  | 12/17 |  |  |  | 12.00 | % |  |  | 1,207 |  |  | Unsecured
Unified Housing Foundation, Inc. (1) |  |  | 12/18 |  |  |  | 12.00 | % |  |  | 3,994 |  |  | Unsecured
Unified Housing Foundation, Inc. (1) |  |  | 12/18 |  |  |  | 12.00 | % |  |  | 6,407 |  |  | Unsecured
Unified Housing Foundation, Inc. (1) |  |  | 12/16 |  |  |  | 12.00 | % |  |  | 2,657 |  |  | Unsecured
Unified Housing Foundation, Inc. (1) |  |  | 06/19 |  |  |  | 12.00 | % |  |  | 5,400 |  |  | Unsecured
Other related party notes |  |  | Various |  |  |  | Various |  |  |  | 1,349 |  |  | Various secured interests
Other related party notes |  |  | Various |  |  |  | Various |  |  |  | 1,404 |  |  | Various unsecured interests
Other non-related party notes |  |  | Various |  |  |  | Various |  |  |  | 3,466 |  |  | Various secured interests
Other non-related party notes |  |  | Various |  |  |  | Various |  |  |  | 282 |  |  | Various unsecured interests
Accrued interest |  |  |  |  |  |  |  |  |  |  | 6,340 |  |  |
Total Performing |  |  |  |  |  |  |  |  |  | $ | 136,111 |  |  |
Allowance for estimated losses |  |  |  |  |  |  |  |  |  |  | (17,037 | ) |  |
Total |  |  |  |  |  |  |  |  |  | $ | 119,074 |  |  |
(1) Related party notes. (2) An allowance was taken for estimated losses at full value of note. We invest in mortgage loans, secured by mortgages that are subordinate to one or more prior liens either on the fee or a leasehold interest in real estate. Recourse on such loans ordinarily includes the real estate on which the loan is made, other collateral and guarantees. At September 30, 2016, we had mortgage loans and accrued interest receivable from related parties, net of allowances, totaling $112.4 million. During the nine months ended September 30, 2016, we recognized interest income of $14.5 million related to these notes receivables. The Company has various notes receivable from Unified Housing Foundation, Inc. (“UHF”) and Foundation for Better Housing, Inc. (“FBH”). UHF and FBH are determined to be related parties due to our reliance upon the performance of the collateral secured under the notes receivable. Payments are due from surplus cash flow of operations of the properties. A sale or refinance of any of the properties underlying these notes will be used to repay outstanding interest and principal for the remaining notes for the specific borrower. These notes are cross-collateralized for the specific borrower, but to the extent cash is received from a specific UHF or FBH property, it is applied first against any outstanding interest for the related-property note. The allowance on the UHF notes was a purchase allowance that was netted against the notes when acquired.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e4975-111524 + Details
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