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Subsequent Events
6 Months Ended
Jun. 30, 2012
Subsequent Events [Abstract]  
Subsequent events

12. Subsequent events

On July 15, 2012, the Company terminated its warehouse facility provided by CIBC which was used to extend loans and financing commitments to third-party borrowers.

 

On July 23, 2012, the Company reached an agreement with RBS Citizens, NA (“Citizens”) whereby Citizens will provide warehouse financing for loans and financing commitments originated by the Company.

On July 25, 2012, the Company declared a cash dividend of $0.11 per share (totaling $1.5 million) payable on August 24, 2012 to Class A and Class B Stockholders of record on August 10, 2012.