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11) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)
 9 Months Ended
Sep. 30, 2015
Tables/Schedules  
Schedule of Mortgage Servicing Rights

 

As of September 30 2015

As of December 31 2014

Amortized cost:

Balance before valuation allowance at beginning of year

 $           7,834,747

 $          4,844,101

MSRs proceeds from loan sales

              4,674,218

             3,741,381

Amortization

               (934,626)

              (750,735)

Application of valuation allowance to write down MSRs with other than temporary impairment

                           -

                         -

Balance before valuation allowance at year end

 $          11,574,339

 $          7,834,747

Valuation allowance for impairment of MSRs:

Balance at beginning of year

 $                        -

 $                       -

Additions

                           -

                         -

Application of valuation allowance to write down MSRs    with other than temporary impairment

                           -

                         -

Balance at end of period

 $                        -

 $                       -

Mortgage servicing rights, net

 $          11,574,339

 $          7,834,747

Estimated fair value of MSRs at end of period

 $          12,093,178

 $          8,485,570