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11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)
 6 Months Ended
Jun. 30, 2017
Tables/Schedules  
Schedule of Mortgage Servicing Rights

 

As of June 30 2017

As of December 31 2016

Amortized cost:

Balance before valuation allowance at beginning of year

 $             18,872,362

 $             12,679,755

MSRs proceeds from loan sales

                  2,867,263

                 8,603,154

Amortization

                (1,642,660)

                (2,410,547)

Application of valuation allowance to write down MSRs    with other than temporary impairment

                              -

                              -

Balance before valuation allowance at end of period

 $             20,096,965

 $             18,872,362

Valuation allowance for impairment of MSRs:

Balance at beginning of year

 $                           -

 $                           -

Additions

                              -

                              -

Application of valuation allowance to write down MSRs    with other than temporary impairment

                              -

                              -

Balance at end of period

 $                           -

 $                           -

Mortgage servicing rights, net

 $             20,096,965

 $             18,872,362

Estimated fair value of MSRs at end of period

 $             26,448,288

 $             25,496,832