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Note 15 - Warehouse Credit Facilities | 12 Months Ended
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Dec. 31, 2020
Warehouse Credit Facilities [Member] |
Notes to Financial Statements |
Debt Disclosure [Text Block] |
15. | Warehouse credit facilities
The following table summarizes the Company's mortgage warehouse credit facilities as at December 31, 2020:
|  |  |  |  | December 31, 2020 |
|  | Current |  |  | Maximum |  |  |  | Carrying |
|  | Maturity |  |  | Capacity |  |  |  | Value |
Facility A - LIBOR plus 1.60% |  | January 11, 2021 |  | $ | 275,000 |  |  | $ | 167,004 |
Facility B - SOFR plus 1.70% |  | On demand |  |  | 125,000 |  |  |  | 51,014 |
|  |  |  | $ | 400,000 |  |  | $ | 218,018 |
Colliers Mortgage has warehouse credit facilities which are used exclusively for the purpose of funding warehouse mortgages receivable. The warehouse credit facilities are recourse only to Colliers Mortgage; these facilities are revolving and are secured by warehouse mortgages financed on the facilities, if any. On January 11, 2021 Colliers Mortgage entered into an amendment to the financing agreement for Facility A modifying the borrowing capacity to $175,000 and extending the maturity date to October 20, 2021. On January 15, 2021 Colliers Mortgage entered into an additional amendment for Facility A temporarily increasing the borrowing capacity to $250,000 through March 31, 2021; The borrowing capacity will decrease to $125,000 on October 20, 2021.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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