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COMMITMENTS | 12 Months Ended
--- | ---
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS | COMMITMENTS Bonds The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):
| Commitments Due By Period
| Total |  | Less Than 1 year |  | 1-3 years |  | 3-5 years |  | More Than 5 years
Surety bonds (a) | $ | 5,077 |  |  | $ | 4,952 |  |  | $ | 125 |  |  | $ | — |  |  | $ | — |
(a) State laws and regulations generally require businesses which engage in mortgage brokering activity to maintain a mortgage broker or similar license. Mortgage brokering activity is generally defined to include, among other things, receiving valuable consideration for offering assistance to a buyer in obtaining a residential mortgage or soliciting financial and mortgage information from the public and providing that information to an originator of residential mortgage loans. All states require that the Company maintain surety bonds for potential claims. Other Commitments The Company has certain other commitments through 2025, where the aggregate commitments for these contracts range from $0.2 million to $5.2 million each year throughout the remaining life of the contract.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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