Finance Receivables - Original Product (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Finance Receivables for Original Product

The Company’s original funding product provides financing to community associations only up to the secured or “Super Lien Amount” as discussed in Note 1. Finance receivables for the original product as of September 30, 2019 and December 31, 2018 based on the year of funding are approximately as follows:

	September 30, 2019			December 31, 2018 (Audited)
Funded during the current year	$	34,000		$	79,000
1-2 years outstanding		22,000			35,000
2-3 years outstanding		21,000			18,000
3-4 years outstanding		11,000			7,000
Greater than 4 years outstanding		333,243			411,000
		421,243			550,000
Reserve for credit losses		(112,000	)		(125,000	)
	$	309,243		$	425,000
Number of active units with delinquent assessments		638			826
Amount of outstanding interest and late fees on active units	$	9,931,000		$	11,268,000