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DEFERRED REVENUE, NET
6 Months Ended
Jun. 30, 2026
Revenue Recognition and Deferred Revenue [Abstract]  
DEFERRED REVENUE, NET

NOTE 9 – DEFERRED REVENUE, NET

 

Loan origination fees are deferred and recognized as revenue over the life of the respective loan. The associated loan origination costs are also deferred and recognized as expense over the life of the loan. The deferred portion of the loan origination fees is netted against the deferred portion of the loan origination costs and reported as a net deferred revenue liability on the Company’s unaudited condensed consolidated statements of financial condition.

 

The following is a summary of the loan origination fees and costs deferred and amortized for the six months ended June 30, 2026:

                
    Deferred Origination
Fees
    Deferred
Origination
Costs
    Deferred
Revenue, Net
 
                
Deferred Revenue at December 31, 2025  $2,404,878   $(1,328,625)  $1,076,253 
                
New loan deferrals   287,200    (41,000)   246,200 
              - 
Amortization of deferrals   (458,248)   248,665    (209,583)
                
Deferred Revenue at June 30, 2026  $2,233,830   $(1,120,960)  $1,112,870