XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.20.2

Warehouse Receivables & Warehouse Lines of Credit (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Warehouse Receivables And Warehouse Lines Of Credit [Abstract] |
Schedule of Warehouse Receivables | A rollforward of our warehouse receivables is as follows (dollars in thousands):
Beginning balance at December 31, 2019 |  | $ | 993,058 |
Origination of mortgage loans |  |  | 11,727,227 |
Gains (premiums on loan sales) |  |  | 51,380 |
Proceeds from sale of mortgage loans: |  |  |  |
Sale of mortgage loans |  |  | (11,513,901 | )
Cash collections of premiums on loan sales |  |  | (51,380 | )
Proceeds from sale of mortgage loans |  |  | (11,565,281 | )
Net increase in mortgage servicing rights included in warehouse receivables |  |  | 5,502 |
Ending balance at September 30, 2020 |  | $ | 1,211,886 |
Summary of Warehouse Lines of Credit in Place | The following table is a summary of our warehouse lines of credit in place as of September 30, 2020 and December 31, 2019 (dollars in thousands):
|  |  |  |  |  | September 30, 2020 |  |  | December 31, 2019 |
Lender |  | Current Maturity |  | Pricing |  | Maximum Facility Size |  |  | Carrying Value |  |  | Maximum Facility Size |  |  | Carrying Value |
JP Morgan Chase Bank, N.A. (JP Morgan) (1) |  | 10/19/2020 |  | daily floating rate LIBOR plus 1.30% |  | $ | 985,000 |  |  | $ | 336,262 |  |  | $ | 985,000 |  |  | $ | 267,075 |
JP Morgan (2) |  | 10/19/2020 |  | daily floating rate LIBOR plus 2.75% |  |  | 15,000 |  |  |  | — |  |  |  | 15,000 |  |  |  | — |
Capital One, N.A. (Capital One) (3) |  | 7/27/2020 |  | daily one-month LIBOR plus 1.25% |  |  | — |  |  |  | — |  |  |  | 200,000 |  |  |  | 39,538 |
Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program |  | Cancelable anytime |  | daily one-month LIBOR plus 1.35%, with a LIBOR floor of 0.35% |  |  | 450,000 |  |  |  | 65,505 |  |  |  | 450,000 |  |  |  | 360,784 |
TD Bank, N.A. (TD Bank) (4) |  | (4) |  | daily floating rate LIBOR plus 1.15% |  |  | 800,000 |  |  |  | 596,021 |  |  |  | 800,000 |  |  |  | 92,266 |
Bank of America, N.A. (BofA) (5) |  | 5/26/2021 |  | (6) |  |  | 350,000 |  |  |  | 189,290 |  |  |  | 350,000 |  |  |  | 189,465 |
BofA |  | (7) |  | daily one-month LIBOR plus 1.15% |  |  | — |  |  |  | — |  |  |  | 250,000 |  |  |  | 17,457 |
MUFG Union Bank, N.A. (Union Bank) (8) |  | (8) |  | daily floating rate LIBOR plus 1.50% |  |  | 300,000 |  |  |  | 4,756 |  |  |  | 350,000 |  |  |  | 10,590 |
|  |  |  |  |  | $ | 2,900,000 |  |  | $ | 1,191,834 |  |  | $ | 3,400,000 |  |  | $ | 977,175 |
(1) | Effective October 19, 2020, this facility was amended and the maximum facility size was temporarily increased to $1,585.0 million and will revert back to $985.0 million on January 18, 2021. The interest rate increased to a LIBOR daily floating rate, plus 1.60% and the revised maturity date is October 18, 2021.
(2) | Effective October 19, 2020 the maturity date was extended to October 18, 2021.
(3) | This facility expired on July 27, 2020 and was not renewed.
(4) | Effective July 1, 2020, this facility was amended and provides for a maximum aggregate principal amount of $400.0 million, in addition to an uncommitted $400.0 million temporary line of credit, with an unchanged interest rate and revised maturity date of June 30, 2021. Effective September 21, 2020, CBRE utilized the additional $400.0 million as a temporary increase, which expires on December 31, 2020.
(5) | On June 10, 2020, this facility was amended with a revised maturity date of May 26, 2021. The total commitment amount of $350.0 million includes a separate sublimit borrowing in the amount of $100.0 million, which can be utilized for specific purposes as defined within the agreement. As of September 30, 2020, the sublimit borrowing has not been utilized.
(6) | Effective July 24, 2020, the interest rate on this facility was as follows: (i) a LIBOR daily floating rate for such day, plus 1.40% on the general facility and (ii) a LIBOR daily floating rate for such day, plus 1.75% on the separate sublimit borrowing.
(7) | This facility expired on May 27, 2020 and was not renewed.
(8) | On June 28, 2019, we added a new warehouse facility for $200.0 million with Union Bank. This facility contains an accordion feature which allows for temporary increases not to exceed an additional $150.0 million. If utilized, the additional borrowings must be in predefined multiples and are not to occur more than three times within twelve consecutive months. On June 26, 2020, the maturity date was extended to July 28, 2020 and on July 28, 2020 the maturity date was extended to August 27, 2020. Effective August 4, 2020, this facility was amended with a revised interest of LIBOR daily floating rate for such day, plus 1.50% and a maturity date of June 28, 2021. Additionally, this amendment decreased the accordion feature from $150.0 million to $100.0 million, with no changes to the predefined borrowing multiples. On September 22, 2020, the temporary increase of $100.0 million was utilized and expires on January 20, 2021.

X
- Definition Schedule of warehouse receivables rollforward. + References No definition available. + Details
Name: | cbre_ScheduleOfWarehouseReceivablesRollforwardTableTextBlock
Namespace Prefix: | cbre_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Warehouse receivables and warehouse lines of credit. + References No definition available. + Details
Name: | cbre_WarehouseReceivablesAndWarehouseLinesOfCreditAbstract
Namespace Prefix: | cbre_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration