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SERVICING POLICY (Tables)

12 Months Ended

Sep. 30, 2021

Schedule of activity in mortgage servicing rights

The Company services one-to-four family residential mortgage loans for investors in the secondary mortgage market, which are not included in the Consolidated Balance Sheets. The Company’s fee is a percentage of the principal balance and is recognized as income when received. At September 30, 2021 and 2020, the Company was servicing such sold mortgage loans in the amount of $3.7 million and $5.2 million, respectively. Loan servicing includes collecting and remitting loan payments, accounting for principal and interest, contacting delinquent mortgagors, supervising foreclosures and property dispositions in the event of unremedied defaults, making certain insurance and tax payments on behalf of the borrowers and generally administering the loans. Mortgage servicing rights are amortized in proportion to, and over the period of, estimated net servicing revenues and are included in other assets on the Consolidated Balance Sheets. Activity in mortgage servicing rights during the years ended September 30, 2021 and 2020 are summarized as follows:

	September 30,
	2021			2020
	(In thousands)

Beginning balance	$	12		$	26
Origination of mortgage servicing rights		—			—
Amortization		(8	)		(14	)
Ending balance	$	4		$	12