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MORTGAGE LOANS (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of the breakdown of the commercial mortgage loan portfolio by property type

The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2019 and 2018:


	Percentage of Mortgage Loans on Real Estate
	As of December 31,
Type	2019		2018
Retail	36.8	%	45.0	%
Office Buildings	14.4		13.2
Apartments	12.5		10.2
Warehouses	16.4		11.3
Senior housing	14.7		15.8
Other	5.2		4.5
	100.0	%	100.0	%

Schedule of mortgage loans by location of properties

As of December 31, 2019 and 2018, approximately 60.2% and 62.5% of the mortgage loans are on properties located in the following states, respectively:


	Percentage of Mortgage Loans on Real Estate
State	As of December 31, 2019
California	11.9	%
Texas	7.7
Alabama	7.2
Florida	6.5
Georgia	5.7
North Carolina	5.0
Utah	4.2
Michigan	4.1
Illinois	4.0
Ohio	3.9
	60.2	%


	Percentage of Mortgage Loans on Real Estate
State	As of December 31, 2018
Florida	8.8	%
Alabama	8.6
Texas	7.5
Georgia	7.3
California	7.2
Michigan	4.8
Tennessee	4.7
Utah	4.7
Ohio	4.5
North Carolina	4.4
	62.5	%

Schedule of changes in the allowance for mortgage loan credit losses

As of December 31, 2019 and 2018, the Company had allowances for mortgage loan credit losses of $4.9 million and $1.3 million, respectively, which is shown in the chart below.


	As of December 31,
	2019		2018
	(Dollars In Thousands)
Beginning balance	$	1,296	$	—
Charge offs	(350)		—
Recoveries	—		(209)
Provision	3,938		1,505
Ending balance	$	4,884	$	1,296

Schedule of an analysis of the delinquent loans

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


	30-59 Days Delinquent		60-89 Days Delinquent		Greater than 90 Days Delinquent		Total Delinquent
	(Dollars In Thousands)
As of December 31, 2019
Commercial mortgage loans	$	6,455	$	—	$	710	$	7,165
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

Schedule of information regarding impaired loans

The following table for delinquent loans 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 December 31, 2019 and 2018.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income
	(Dollars In Thousands)
As of December 31, 2019
Commercial mortgage loans:
With no related allowance recorded	$	710	$	702	$	—	$	237	$	20	$	28
With an allowance recorded	16,209		16,102		4,884		3,242		841		838
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 that were modified in a troubled debt restructuring

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


	Number of contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
		(Dollars In Thousands)
As of December 31, 2019
Troubled debt restructuring:
Commercial mortgage loans	2	$	3,771	$	3,771

As of December 31, 2018
Troubled debt restructuring:
Commercial mortgage loans	1	$	2,688	$	1,742