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Warehouse Receivables & Warehouse Lines of Credit | 12 Months Ended
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Dec. 31, 2017
Warehouse Receivables And Warehouse Lines Of Credit [Abstract] |
Warehouse Receivables & Warehouse Lines of Credit |
4. | Warehouse Receivables & Warehouse Lines of Credit
A rollforward of our warehouse receivables is as follows (dollars in thousands):
Beginning balance at January 1, 2017 |  | $ | 1,276,047 |
Origination of mortgage loans |  |  | 17,655,104 |
Gains (premiums on loan sales) |  |  | 52,742 |
Sale of mortgage loans |  |  | (18,000,014 | )
Cash collections of premiums on loan sales |  |  | (52,742 | )
Proceeds from sale of mortgage loans |  |  | (18,052,756 | )
Net decrease in mortgage servicing rights included in warehouse receivables |  |  | (3,099 | )
Ending balance at December 31, 2017 |  | $ | 928,038 |
The following table is a summary of our warehouse lines of credit in place as of December 31, 2017 and 2016 (dollars in thousands):
|  |  |  |  |  | December 31, 2017 |  |  | December 31, 2016 |
|  |  |  |  |  | Maximum |  |  |  |  |  |  | Maximum |  |  |  |  |
Lender |  | Current Maturity |  | Pricing |  | Facility Size |  |  | Carrying Value |  |  | Facility Size |  |  | Carrying Value |
JP Morgan Chase Bank, N.A. (JP Morgan) (1) |  | 2/28/2017 |  | daily one-month LIBOR plus 1.45% |  | $ | — |  |  | $ | — |  |  | $ | 300,000 |  |  | $ | 275,945 |
JP Morgan |  | 10/23/2018 |  | daily one-month LIBOR plus 1.45% |  |  | 1,000,000 |  |  |  | 192,180 |  |  |  | 700,000 |  |  |  | — |
JP Morgan |  | 10/23/2018 |  | daily one-month LIBOR plus 2.75% |  |  | 25,000 |  |  |  | 5,800 |  |  |  | 25,000 |  |  |  | 3,768 |
Bank of America, N.A. (BofA) (1) |  | 1/30/2017 |  | daily one-month LIBOR plus 1.60% |  |  | — |  |  |  | — |  |  |  | 300,000 |  |  |  | 300,000 |
BofA (2) |  | 6/5/2018 |  | daily one-month LIBOR plus 1.40% |  |  | 337,500 |  |  |  | 130,443 |  |  |  | 200,000 |  |  |  | 18,555 |
Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program (1) |  | 1/17/2017 |  | daily one-month LIBOR plus 1.35%, with a LIBOR floor of 0.35% |  |  | — |  |  |  | — |  |  |  | 200,000 |  |  |  | 200,000 |
Fannie Mae ASAP Program |  | Cancelable anytime |  | daily one-month LIBOR plus 1.35%, with a LIBOR floor of 0.35% |  |  | 450,000 |  |  |  | 205,827 |  |  |  | 450,000 |  |  |  | 111,160 |
TD Bank, N.A. (TD Bank) (1) |  | 2/28/2017 |  | daily one-month LIBOR plus 1.35% |  |  | — |  |  |  | — |  |  |  | 375,000 |  |  |  | 154,032 |
TD Bank (3) |  | 6/30/2018 |  | daily one-month LIBOR plus 1.25% |  |  | 800,000 |  |  |  | 225,416 |  |  |  | 400,000 |  |  |  | — |
Capital One, N.A. (Capital One) (1) |  | 1/23/2017 |  | daily one-month LIBOR plus 1.45% |  |  | — |  |  |  | — |  |  |  | 250,000 |  |  |  | 191,193 |
Capital One (4) |  | 7/27/2018 |  | daily one-month LIBOR plus 1.40% |  |  | 387,500 |  |  |  | 151,100 |  |  |  | 200,000 |  |  |  | — |
|  |  |  |  |  | $ | 3,000,000 |  |  | $ | 910,766 |  |  | $ | 3,400,000 |  |  | $ | 1,254,653 |
(1) | Temporary facility to accommodate year-end volume.
(2) | Line was temporarily increased from $200.0 million to $337.5 million to accommodate year-end volume. Maximum facility reverted back to $200.0 million on January 27, 2018.
(3) | Line was temporarily increased from $400.0 million to $800.0 million to accommodate year-end volume. Maximum facility reverted back to $400.0 million on February 1, 2018.
(4) | Line was temporarily increased from $200.0 million to $387.5 million to accommodate year-end volume. Maximum facility reverted back to $200.0 million on January 9, 2018.
During the year ended December 31, 2017, we had a maximum of $2.3 billion of warehouse lines of credit principal outstanding.

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