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NOTES AND INTEREST RECEIVABLE | 6 Months Ended
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Jun. 30, 2019
Receivables [Abstract] |
NOTES AND INTEREST RECEIVABLE | NOTE 5. NOTES AND INTEREST RECEIVABLE A portion of our assets is 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 June 30, 2019 (dollars in thousands):
|  | Maturity |  |  | Interest |  |  |  |  |  |  |
Borrower |  | Date |  |  | Rate |  |  | Amount |  |  | Security |
Performing loans: |  |  |  |  |  |  |  |  |  |  |  |  |
H198, LLC (Las Vegas Land) |  | 01/20 |  |  | 12.00% |  |  |  | 5,907 |  |  | Secured |
H198, LLC (Legacy at Pleasant Grove Land) |  | 10/19 |  |  | 12.00% |  |  |  | 496 |  |  | Secured |
Oulan-Chikh Family Trust |  | 03/21 |  |  | 8.00% |  |  |  | 174 |  |  | Secured |
H198, LLC (McKinney Ranch Land) |  | 09/20 |  |  | 6.00% |  |  |  | 4,554 |  |  | Secured |
RAI PFBL 2018 Purch Fee Note Weatherford |  | 12/21 |  |  | 12.00% |  |  |  | 525 |  |  | Secured |
Forest Pines |  | 09/19 |  |  | 5.00% |  |  |  | 2,523 |  |  | Secured |
Spyglass Apartments of Ennis, LP |  | 11/19 |  |  | 5.00% |  |  |  | 5,141 |  |  | Secured |
Bellwether Ridge |  | 05/20 |  |  | 5.00% |  |  |  | 3,686 |  |  | Secured |
Parc at Windmill Farms |  | 05/20 |  |  | 5.00% |  |  |  | 6,361 |  |  | 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% |  |  |  | 3,639 |  |  | 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% |  |  |  | 6,369 |  |  | Secured |
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 12/32 |  |  | 12.00% |  |  |  | 2,732 |  |  | 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% |  |  |  | 2,000 |  |  | Secured |
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 12/32 |  |  | 12.00% |  |  |  | 4,000 |  |  | 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. (Timbers of Terrell) (1) |  | 12/32 |  |  | 12.00% |  |  |  | 1,323 |  |  | Secured |
Unified Housing Foundation, Inc. (Tivoli) (1) |  | 12/32 |  |  | 12.00% |  |  |  | 6,140 |  |  | Secured |
Unified Housing Foundation, Inc. (Trails at White Rock) (1) |  | 12/32 |  |  | 12.00% |  |  |  | 3,815 |  |  | Secured |
Unified Housing Foundation, Inc. (1) |  | 12/21 |  |  | 12.00% |  |  |  | 10,401 |  |  | Unsecured |
Unified Housing Foundation, Inc. (1) |  | 06/20 |  |  | 12.00% |  |  |  | 11,074 |  |  | Unsecured |
Unified Housing Foundation, Inc. (1) |  | 03/22 |  |  | 12.00% |  |  |  | 4,782 |  |  | Unsecured |
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 07/21 |  |  | 12.00% |  |  |  | 838 |  |  | Secured |
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 07/21 |  |  | 12.00% |  |  |  | 773 |  |  | Secured |
Unified Housing Foundation, Inc. (Marquis at Vista Ridge) (1) |  | 07/21 |  |  | 12.00% |  |  |  | 839 |  |  | Secured |
Unified Housing Foundation, Inc. (Timbers at the Park) (1) |  | 07/21 |  |  | 12.00% |  |  |  | 432 |  |  | Secured |
Unified Housing Foundation, Inc. (Trails at White Rock) (1) |  | 07/21 |  |  | 12.00% |  |  |  | 913 |  |  | Secured |
Unified Housing Foundation, Inc. (Bella Vista) (1) |  | 08/21 |  |  | 12.00% |  |  |  | 212 |  |  | Secured |
Unified Housing Foundation, Inc. (1) |  | 10/21 |  |  | 12.00% |  |  |  | 6,831 |  |  | Unsecured |
Unified Housing Foundation, Inc. (1) |  | 12/32 |  |  | 12.00% |  |  |  | 1,349 |  |  | Unsecured |
Realty Advisors Management, Inc. (1) |  | 12/24 |  |  | 2.28% |  |  |  | 20,387 |  |  | Unsecured |
One Realco Corporation |  | 01/20 |  |  | 3.00% |  |  |  | 7,000 |  |  | Unsecured |
Other related party notes (1) (2) |  | Various |  |  | Various |  |  |  | 4,019 |  |  | Various secured interests |
Other non-related party notes |  | Various |  |  | Various |  |  |  | 14,460 |  |  | Various secured interests |
Other non-related party notes |  | Various |  |  | Various |  |  |  | 2,671 |  |  | Various unsecured interests |
Accrued interest |  |  |  |  |  |  |  |  | 13,078 |  |  |  |
Total Performing |  |  |  |  |  |  |  | $ | 173,851 |  |  |  |
Allowance for estimated losses |  |  |  |  |  |  |  |  | (14,269 | ) |  |  |
Total |  |  |  |  |  |  |  | $ | 159,582 |  |  |  |
(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 June 30, 2019, we had mortgage loans and accrued interest receivable from related parties, net of allowances, totaling $106.1 million. We recognized interest income of $12.3 million related to these notes receivables. During the quarter ended June 30, 2019, the outstanding balance in notes receivables increased from the previous quarter as a result of purchases in notes receivables with a face value of $31.9 million (out of which $1.0 million represented accrued interest receivables) from related parties. 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 receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
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