4) Loans Held For Sale: Schedule of loan loss reserve which is included in other liabilities and accrued expenses (Tables)

9 Months Ended

Sep. 30, 2017

Tables/Schedules

Schedule of loan loss reserve which is included in other liabilities and accrued expenses

	As of September 30 2017	As of December 31 2016
Balance, beginning of period	$                   627,733	$               2,805,900
Provision on current loan originations (1)	1,435,180	2,988,754
Additional provision for loan loss reserve	-	1,700,000
Charge-offs, net of recaptured amounts	108,175	(6,866,921)
Balance, end of period	$                2,171,088	$                  627,733
(1) Included in Mortgage fee income