MSRs (Tables)

12 Months Ended

Dec. 31, 2017

Mortgage Servicing Rights MSR Disclosure [Abstract]

MSR Activity

The following table presents the Company’s MSR activity as of the years ended December 31, 2017 and December 31, 2016:

	December 31, 2017			December 31, 2016
Balance at beginning of year	$	3,440,809		$	4,268,673
MSRs retained from sales to securitizations	10,910			—
MSRs related to deconsolidation of securitization trust	—			364,163
Changes in fair value due to:
Changes in valuation inputs or assumptions used in valuation model	39,688			(102,855		)
Other changes to fair value(1)	(527,546		)	(1,089,172		)
Balance at end of period	$	2,963,861		$	3,440,809
Loans associated with MSRs(2)	$	338,167,569		$	397,925,409
MSR values as percent of loans(3)	0.88		%	0.86		%

(1) Amounts represent changes due to realization of expected cash flows

(2) Amounts represent the principal balance of loans associated with MSRs outstanding at December 31, 2017 and December 31, 2016, respectively

(3) Amounts represent the carrying value of MSRs at December 31, 2017 and December 31, 2016, respectively divided by the outstanding balance of the loans associated with these MSRs

Components of Servicing Income

The following table presents the components of servicing income recorded on the Company’s statements of operations for the years ended December 31, 2017, December 31, 2016 and December 31, 2015:

	Year Ended December 31, 2017		Year Ended December 31, 2016		Year Ended December 31, 2015
Servicing income, net	$	922,094	$	932,425	$	211,878
Income from MSRs, net	$	922,094	$	932,425	$	211,878