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RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONSIn conjunction with its joint ventures, the Company entered into agreements to provide services to joint ventures for which it receives and pays fees. Such services include loan processing and administrative services (legal, accounting, human resources, data processing and management information, assignment processing, post-closing, underwriting, facilities management, quality control, management consulting, risk management, promotions, public relations, advertising and compliance with credit agreements). The Company also pays the joint ventures a broker fee for referrals of eligible mortgage loans.
Fees earned, costs incurred, and amounts payable to or receivable from joint ventures were as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Loan processing and administrative services fee income$4,876 $3,650 $12,754 $10,757 
Loan origination broker fees expense$31,917 $22,749 $81,843 $63,457 
September 30,
2022
December 31,
2021
Amounts (payable) receivable from joint ventures$(8,136)$1,855 
The Company paid management fees to a shareholder of the Company of $0.2 million during the nine months ended September 30, 2021. The Company employed certain individuals who provided services to a shareholder whose salaries totaled $0.2 million during the nine months ended September 30, 2022 and $0.1 million and $0.3 million during three and nine months ended September 30, 2021, respectively.