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Loans Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2022
Loans Held For Sale |
Summary of Aggregate Fair Value - Loans Held for Sale | The following table presents the aggregate fair value and the aggregate unpaid principal balance of loans held for sale. Summary of Aggregate Fair Value - Loans Held for Sale
|  | As of September 30 2022 |  |  | As of December 31 2021 |
Aggregate fair value |  | $ | 161,981,923 |  |  | $ | 302,776,827 |
Unpaid principal balance |  |  | 161,668,488 |  |  |  | 294,481,503 |
Unrealized gain |  |  | 313,435 |  |  |  | 8,295,324 |
Schedule of Mortgage Fee Income for Loans Held for Sale | Major categories of mortgage fee income for loans held for sale are summarized as follows: Schedule of Mortgage Fee Income for Loans Held for Sale
|  | Three Months Ended September 30 |  |  | Nine Months Ended September 30 |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Loan fees |  | $ | 4,729,445 |  |  | $ | 9,552,788 |  |  | $ | 19,766,856 |  |  | $ | 28,247,365 |
Interest income |  |  | 2,570,511 |  |  |  | 2,336,573 |  |  |  | 7,525,826 |  |  |  | 6,836,754 |
Secondary gains |  |  | 28,940,898 |  |  |  | 55,440,961 |  |  |  | 103,336,118 |  |  |  | 179,900,770 |
Change in fair value of loan commitments |  |  | (3,271,282 | ) |  |  | (380,696 | ) |  |  | (2,843,155 | ) |  |  | (549,093 | )
Change in fair value of loans held for sale |  |  | (4,131,363 | ) |  |  | (259,307 | ) |  |  | (7,973,171 | ) |  |  | (8,319,820 | )
Provision for loan loss reserve |  |  | (230,321 | ) |  |  | (432,468 | ) |  |  | (829,243 | ) |  |  | (1,701,700 | )
Mortgage fee income |  | $ | 28,607,888 |  |  | $ | 66,257,851 |  |  | $ | 118,983,231 |  |  | $ | 204,414,276 |
Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses | The loan loss reserve, which is included in other liabilities and accrued expenses, is summarized as follows: Summary of Loan Loss Reserve Included in Other Liabilities and Accrued Expenses
|  | As of September 30 2022 |  |  | As of December 31 2021 |
Balance, beginning of period |  | $ | 2,447,139 |  |  | $ | 20,583,618 |
Provision on current loan originations (1) |  |  | 829,243 |  |  |  | 2,211,230 |
Charge-offs, net of recaptured amounts |  |  | (1,450,626 | ) |  |  | (20,347,709 | )
Balance, end of period |  | $ | 1,825,756 |  |  | $ | 2,447,139 |
(1) |  | Included in mortgage fee income

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