MORTGAGE LOANS HELD-FOR-SALE, at FAIR VALUE

9 Months Ended

Sep. 30, 2016

Mortgage loans held-for-sale Disclosure [Abstract]

Mortgage loans held-for-sale Disclosure [Text Block]

NOTE 5 – MORTGAGE LOANS HELD-FOR-SALE, at FAIR VALUE

Mortgage loans held-for-sale consists of residential mortgage loans carried at fair value as a result of the fair value option. The following table presents the carrying value of the Company’s mortgage loans held-for-sale as of September 30, 2016 and December 31, 2015:

	September 30, 2016		December 31, 2015
Unpaid principal balance	$	9,138,386	$	10,767,856
Fair value adjustment		135,616		132,546
Carrying value	$	9,274,002	$	10,900,402

        At September 30, 2016 and December 31, 2015, the Company pledged mortgage loans with a fair value of $8.8 million and $10.9 million, respectively, as collateral for repurchase or warehouse agreements. See Note 10 – Borrowings.

The geographic concentrations of credit risk exceeding 5% of the total loan balances related to the mortgage loans held-for-sale as of September 30, 2016 are as follows:

	September 30, 2016
Texas		32.0	%
California		20.2	%
Arizona		13.3	%
Minnesota		8.0	%
Kentucky		7.7	%
Georgia		6.9	%
North Carolina		6.2	%
Colorado		5.6	%