XML 35 R23.htm IDEA: XBRL DOCUMENT v3.21.2
Loans Held for Sale (Tables)
 9 Months Ended
Sep. 30, 2021
Loans Held For Sale  
Summary of 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
September 30 2021		   As of
December 31 2020		 
         
Aggregate fair value  $312,655,843   $422,772,418 
Unpaid principal balance   304,132,748    406,407,323 
Unrealized gain   8,523,095    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 September 30   Nine Months Ended September 30 
   2021   2020   2021   2020 
Loan fees  $9,552,788   $20,630,052   $28,247,365   $40,167,476 
Interest income   2,336,573    3,348,929    6,836,754    7,630,993 
Secondary gains   55,440,961    70,627,864    179,900,770    151,215,666 
Change in fair value of loan commitments   (380,696)   3,901,086    (549,093)   12,454,218 
Change in fair value of loans held for sale   (259,307)   1,404,131    (8,319,820)   4,231,347 
Provision for loan loss reserve   (432,468)   (1,352,438)   (1,701,700)   (3,489,982)
Mortgage fee income  $66,257,851   $98,559,624   $204,414,276   $212,209,718 
Summary of Loan Loss Reserve 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
September 30 2021		   As of
December 31 2020		 
Balance, beginning of period  $20,583,618   $4,046,288 
Provision on current loan originations (1)   1,701,700    4,938,214 
Additional provision for loan loss reserve   —    16,506,030 
Charge-offs, net of recaptured amounts   (19,877,085)   (4,906,914)
Balance, end of period  $2,408,233   $20,583,618 

 

(1) Included in mortgage fee income