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Commercial Mortgage and Other Loans Receivable
 9 Months Ended
Mar. 31, 2019
Receivables [Abstract]  
Commercial Loans Receivable
5.
Commercial Mortgage and Other Loans Receivable
 
We had outstanding $5,493 of mortgage loans secured by real property in certain markets throughout the United States at March 31, 2019. Mortgage loan activity for the nine months ended March 31, 2019 is as follows:
 
 
 
 
 
 
 
 
 
Provision
 
 
 
 
 
 
Principal
 
 
Deferred
 
 
for Loan
 
 
Carrying
 
Mortgage Loans
 
Balance
 
 
Fees
 
 
Loss
 
 
Value
 
Balance at July 1, 2018
 
$
3,005
 
 
$ 
-
 
 
$
-
 
 
$
3,005
 
Additions during the period:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New mortgage loans
 
 
4,010
 
 
 
(17
)
 
 
-
 
 
 
3,993
 
Deductions during the period:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collections of principal
 
 
(1,505
)
 
 
-
 
 
 
-
 
 
 
(1,505
)
Balance at March 31, 2019
 
$
5,510
 
 
$
(17
)
 
$
-
 
 
$
5,493
 
 
As of March 31, 2019, one of our mortgage loans with $1,400 of outstanding principal was subject to default rate interest. In April 2019, the borrower in default cured its default by paying all current and default rate interest due.
 
During the second quarter of our fiscal year 2019, we originated a commercial line of credit
(the “
credit facility”) to support the working capital needs of a business (the “borrower”) with eligible borrowings of up to $3,000, based upon the borrower’s eligible accounts receivable. All outstanding credit facility balances are due upon collection of the borrower’s accounts receivable and the credit facility expires on October 29, 2020. The credit facility yields prime plus 5% on the outstanding balance of the credit facility, and a 1.2% fee is charged on the unused portion of the credit facility. As of March 31, 2019, this credit facility had been repaid in full
 and is no longer available for use
.
 
During the third quarter of our fiscal year 2019, we originated a commercial loan of $2,000 to an MCA originator. The commercial loan matures on February 28, 2021.
Interest is charged at a rate of
17%
per annum 
on the outstanding balance of the commercial loan.
 
Commercial loan/credit facility activity for the period is as follows:
 
 
 
 
 
 
 
 
 
Provision
 
 
 
 
Commercial Loan
 
Principal

Balance
 
 
Deferred

Fees
 
 
for Loan

Loss
 
 
Carrying

Value
 
Balance at July 1, 2018
 
$
-
 
 
$
-
 
 
$
-
 
 
$
-
 
Additions during the period:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Borrowings
 
 
4,873
 
 
 
-
 
 
 
-
 
 
 
4,873
 
Deductions during the period:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collections of principal
 
 
(2,873
)
 
 
-
 
 
 
-
 
 
 
(2,873
)
Balance at March 31, 2019
 
$
2,000
 
 
$
-
 
 
$
-
 
 
$
2,000