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Loans Held for Sale (Tables) | 6 Months Ended
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Jun. 30, 2023
Loans Held For Sale |
Schedule 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: Schedule of Aggregate Fair Value Loans Held for Sale
|  | As of June 30, 2023 |  |  | As of December 31, 2022 |
|  | As of June 30, 2023 |  |  | As of December 31, 2022 |
Aggregate fair value |  | $ | 161,310,060 |  |  | $ | 141,179,620 |
Unpaid principal balance |  |  | 162,075,374 |  |  |  | 141,337,811 |
Unrealized loss |  |  | (765,314 | ) |  |  | (158,191 | )
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
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Loan fees |  | $ | 5,986,802 |  |  | $ | 7,950,227 |  |  | $ | 10,375,215 |  |  | $ | 15,037,410 |
Interest income |  |  | 2,620,489 |  |  |  | 2,923,446 |  |  |  | 4,627,546 |  |  |  | 4,955,315 |
Secondary gains |  |  | 19,298,213 |  |  |  | 37,161,287 |  |  |  | 37,259,571 |  |  |  | 76,763,900 |
Change in fair value of loan commitments |  |  | (151,382 | ) |  |  | (2,247,244 | ) |  |  | 526,570 |  |  |  | 428,127 |
Change in fair value of loans held for sale |  |  | (1,401,738 | ) |  |  | (3,463,922 | ) |  |  | (607,123 | ) |  |  | (6,210,487 | )
Provision for loan loss reserve |  |  | (273,631 | ) |  |  | (292,896 | ) |  |  | (114,020 | ) |  |  | (598,922 | )
Mortgage fee income |  | $ | 26,078,753 |  |  | $ | 42,030,898 |  |  | $ | 52,067,759 |  |  | $ | 90,375,343 |
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 June 30, 2023 |  |  | As of December 31, 2022 |
Balance, beginning of period |  | $ | 1,725,667 |  |  | $ | 2,447,139 |
Provision on current loan originations (1) |  |  | 513,431 |  |  |  | 1,078,812 |
Charge-offs, net of recaptured amounts |  |  | (983,185 | ) |  |  | (1,800,284 | )
Balance, end of period |  | $ | 1,255,913 |  |  | $ | 1,725,667 |
(1) | Included in mortgage fee income

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