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4) Loans Held For Sale (Tables) | 3 Months Ended
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Mar. 31, 2021
Table Text Block Supplement [Abstract] |
Aggregate fair value - Loans Held for Sale | The following is a summary of the aggregate fair value and the aggregate unpaid principal balance of loans held for sale for the periods presented:
|  | As of March 31 2021 |  | As of December 31 2020
Aggregate fair value |  | $ 304,030,372 |  | $ 422,772,418
Unpaid principal balance |  | 294,207,728 |  | 406,407,323
Unrealized gain |  | 9,822,644 |  | 16,365,095
Schedule of Mortgage Fee Income for Loans Held for Sale | Major categories of mortgage fee income for loans held for sale are as follows:
| Three Months Ended March 31
| 2021 |  | 2020
Loan fees | $ 9,539,956 |  | $ 8,916,153
Interest income | 2,311,802 |  | 1,680,459
Secondary gains | 68,438,933 |  | 26,641,492
Change in fair value of loan commitments | 314,466 |  | 3,275,032
Change in fair value of loans held for sale | (6,945,882) |  | 381,734
Provision for loan loss reserve | (660,663) |  | (613,109)
Mortgage fee income | $ 72,998,612 |  | $ 40,281,761
Schedule of loan loss reserve which is included in other liabilities and accrued expenses | The following is a summary of the loan loss reserve that is included in other liabilities and accrued expenses:
| As of March 31 2021 |  | As of December 31 2020
Balance, beginning of period | $ 20,583,618 |  | $ 4,046,288
Provision on current loan originations (1) | 660,663 |  | 4,938,214
Additional provision for loan loss reserve | - |  | 16,506,030
Charge-offs, net of recaptured amounts | (19,039,298) |  | (4,906,914)
Balance, end of period | $ 2,204,983 |  | $ 20,583,618
(1) Included in mortgage fee income

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