MORTGAGE LOANS (Tables)

9 Months Ended

Sep. 30, 2019

MORTGAGE LOANS

Allowance for Credit Losses on Financing Receivables

As of September 30, 2019 and December 31, 2018, the Company had allowances for mortgage loan credit losses of $4.1 million and $1.3 million, respectively, which is shown in the chart below.

	As of
	September 30, 2019		December 31, 2018
	(Dollars In Thousands)
Beginning balance	$	1,296	$	—
Charge offs	(350)		—
Recoveries	—		(209)
Provision	3,110		1,505
Ending balance	$	4,056	$	1,296

Schedule of an Analysis of the Delinquent Loans

The carrying value of the delinquent loans is shown in the following chart. 

					Greater
	30-59 Days		60-89 Days		than 90 Days		Total
As of September 30, 2019	Delinquent		Delinquent		Delinquent		Delinquent
	(Dollars In Thousands)
Commercial mortgage loans	$	1,641	$	—	$	730	$	2,371
Number of delinquent commercial mortgage loans	2		—		3		5
As of December 31, 2018
Commercial mortgage loans	$	1,044	$	—	$	1,234	$	2,278
Number of delinquent commercial mortgage loans	4		—		1		5

Impaired Financing Receivables

The following table includes the recorded investment, unpaid principal balance, related allowance, average recorded investment, interest income recognized, and cash basis interest income of the commercial loan portfolio as of September 30, 2019 and December 31, 2018.

	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income
	(Dollars In Thousands)
As of September 30, 2019
Commercial mortgage loans:
With no related allowance recorded	$	730	$	722	$	—	$	243	$	20	$	28
With an allowance recorded	$	14,373	$	14,259	$	4,056	$	3,593	$	540	$	536
As of December 31, 2018
Commercial mortgage loans:
With no related allowance recorded	$	—	$	—	$	—	$	—	$	—	$	—
With an allowance recorded	$	5,684	$	5,309	$	1,296	$	1,895	$	267	$	293

Schedule of Mortgage Loans Modified in Troubled Debt Restructuring

Mortgage loans that were modified in a troubled debt restructuring as of September 30, 2019 and December 31, 2018 were as follows:

	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	(Dollars In Thousands)
As of September 30, 2019
Troubled debt restructuring:
Commercial mortgage loans	2	$	3,776	$	3,776
As of December 31, 2018
Troubled debt restructuring:
Commercial mortgage loans	1	$	2,688	$	1,742