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Mortgage Servicing Rights (Tables)
 6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Mortgage Servicing Rights
      
   As of June 30
2021		  As of December 31
2020
Amortized cost:          
Balance before valuation allowance at beginning of year  $35,210,516   $17,155,529 
MSR additions resulting from loan sales   18,286,569    29,896,465 
Amortization (1)   (6,772,539)   (11,841,478)
Application of valuation allowance to write down MSRs
   with other than temporary impairment		   —      —   
Balance before valuation allowance at end of period  $46,724,546   $35,210,516 
           
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  $46,724,546   $35,210,516 
           
Estimated fair value of MSRs at end of period  $58,838,077   $38,702,358 

 

(1) Included in other expenses on the condensed consolidated statements of earnings
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense, Mortgage Servicing Rights
   
   Estimated MSR Amortization
 2021    5,996,013 
 2022    4,891,593 
 2023    4,248,886 
 2024    3,685,273 
 2025    3,217,703 
 Thereafter    24,685,078 
 Total   $46,724,546 
Schedule of Other Revenues
            
   Three Months Ended
June 30		  Six Months Ended
June 30
   2021  2020  2021  2020
Contractual servicing fees  $3,755,294   $1,929,565   $7,142,765   $3,714,509 
Late fees   74,437    71,704    155,487    169,512 
Total  $3,829,731   $2,001,269   $7,298,252   $3,884,021 
Summary of Unpaid Principal Balances of the Servicing Portfolio
      
   As of  June 30
2021		  As of December 31 2020
Servicing UPB  $6,280,506,543   $5,070,287,864 
Assumptions used in determining MSR value
         
   Prepayment
Speeds		  Average
Life (Years)		  Discount
Rate
 June 30, 2021    12.20    6.55    9.50 
 December 31, 2020    15.60    5.30    9.50