8): Fair Value of Financial Instruments: Schedule of Financial Instruments Carried at Other Than Fair Value (Tables)

9 Months Ended

Sep. 30, 2017

Tables/Schedules

Schedule of Financial Instruments Carried at Other Than Fair Value

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Fixed maturity securities held to maturity	$     230,811,272	$                      -	$   243,807,562	$                        -	$     243,807,562
Mortgage loans held for investment:
Residential	63,908,714	-	-	68,139,551	68,139,551
Residential construction	40,884,948	-	-	40,884,948	40,884,948
Commercial	42,507,029	-	-	44,223,823	44,223,823
Mortgage loans held for investment, net	$     147,300,691	$                      -	$                      -	$     153,248,322	$     153,248,322
Loans held for sale (at amortized costs)	34,905,719	-	-	35,131,853	35,131,853
Policy loans	6,677,924	-	-	6,677,924	6,677,924
Insurance assignments, net (1)	32,198,144	-	-	32,198,144	32,198,144
Short-term investments	17,830,990	-	17,830,990	-	17,830,990
Mortgage servicing rights, net	20,396,568	-	-	26,785,380	26,785,380
Liabilities
Bank and other loans payable	$   (182,769,531)	$                      -	$                      -	$   (182,769,531)	$   (182,769,531)
Policyholder account balances (2)	(48,200,442)	-	-	(37,564,692)	(37,564,692)
Future policy benefits - annuities (2)	(99,519,758)	-	-	(100,851,101)	(100,851,101)
(1) Included in policy loans and other investments on the condensed consolidated balance sheet.
(2) Included in future policy benefits and unpaid claims on the condensed consolidated balance sheet.

The carrying values and estimated fair values for such financial instruments, and their corresponding placement in the fair value hierarchy, are summarized as follows as of December 31, 2016:

	Carrying Value	Level 1	Level 2	Level 3	Total Estimated Fair Value
Assets
Fixed maturity securities held to maturity	$     184,979,644	$                      -	$   191,850,749	$                        -	$     191,850,749
Mortgage loans held for investment:
Residential	57,096,961	-	-	61,357,393	61,357,393
Residential construction	40,700,003	-	-	40,700,003	40,700,003
Commercial	51,193,768	-	-	53,299,800	53,299,800
Mortgage loans held for investment, net	$     148,990,732	$                      -	$                      -	$     155,357,196	$     155,357,196
Loans held for sale	189,578,243	-	-	192,289,854	192,289,854
Policy loans	6,694,148	-	-	6,694,148	6,694,148
Insurance assignments, net (1)	32,477,246	-	-	32,477,246	32,477,246
Short-term investments	27,560,040	-	27,560,040	-	27,560,040
Mortgage servicing rights, net	18,872,362	-	-	25,496,832	25,496,832
Liabilities
Bank and other loans payable	$   (152,137,371)	$                      -	$                      -	$   (152,137,371)	$   (152,137,371)
Policyholder account balances (2)	(49,421,125)	-	-	(38,530,031)	(38,530,031)
Future policy benefits - annuities (2)	(99,388,662)	-	-	(100,253,261)	(100,253,261)
(1) Included in policy loans and other investments on the condensed consolidated balance sheet.
(2) Included in future policy benefits and unpaid claims on the condensed consolidated balance sheet.