Annual report pursuant to Section 13 and 15(d)

MORTGAGE LOANS HELD FOR SALE

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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