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Prepaid Expenses and Other Assets

3 Months Ended

Mar. 31, 2023

Prepaid Expenses and Other Assets [Abstract]

Prepaid Expenses and Other Assets

5. Prepaid Expenses and Other Assets

Prepaid expenses and other assets included the following (in thousands):

		March 31,			December 31,
		2023			2022
Prepaid insurance		$	28,921		$	31,716
Lot option and escrow deposits			42,364			48,354
Performance deposits			12,835			12,626
Restricted cash (1)			14,886			11,768
Multi-family rental properties under construction			73,475			56,615
Mortgage loans held for investment at fair value			20,078			18,875
Mortgage loans held for investment at amortized cost			6,420			6,574
Mortgage servicing rights			23,901			24,164
Derivative assets			3,082			1,958
Other assets and prepaid expenses			34,543			37,885
Total prepaid expenses and other assets		$	260,505		$	250,535

(1)Restricted cash consists of restricted cash related to land development, earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain compensating balances associated with our mortgage repurchase facilities and other financing obligations.

 

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The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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