MORTGAGE LOANS HELD FOR SALE

12 Months Ended

Dec. 31, 2023

Mortgage Loans Held For Sale [Abstract]

MORTGAGE LOANS HELD FOR SALE

MORTGAGE LOANS HELD FOR SALE

The Company sells substantially all of its originated mortgage loans into the secondary market. The Company may retain the right to service these loans upon sale through ownership of servicing rights. A reconciliation of the changes in MLHS to the amounts presented in the Consolidated Statements of Cash Flows for the years ended December 31, 2023 and 2022 is set forth below:

	2023		2022
Balance at the beginning of period	$	845,775	$	2,204,216
Origination of mortgage loans held for sale	14,193,944		19,220,547
Proceeds on sale of and payments from mortgage loans held for sale	(14,504,592)		(21,062,670)
Gain on sale of mortgage loans excluding fair value of other financial instruments, net	336,245		528,243
Valuation adjustment of mortgage loans held for sale	29,855		(44,561)
Balance at the end of period	$	901,227	$	845,775