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Short-Term Debt (Tables)

9 Months Ended

Sep. 30, 2014

Outstanding Balances of Short-Term Debt by Type of Collateral Securing Debt

The table below summarizes the facilities that are available to us and the balances of short-term debt at September 30, 2014 and December 31, 2013 by the type of collateral securing the debt.

		September 30, 2014
(Dollars in Thousands)		Number of       Facilities				Outstanding				Limit				Maturity
Collateral Type
Residential loans			5			$	1,188,179			$	1,550,000				12/2014-8/2015
Commercial loans			2				52,895				340,000				4/2015-9/2015
Real estate securities			10				646,614				-				10/2014-12/2014
Total			17			$	1,887,688
		December 31, 2013
(Dollars in Thousands)		Number of       Facilities				Outstanding				Limit				Maturity
Collateral Type
Residential loans			5			$	184,789			$	1,400,000				1/2014 - 12/2014
Commercial loans			1				-				100,000				4/2014
Real estate securities			7				677,974				-				1/2014 - 2/2014
Total			13			$	862,763

Short-Term Debt by Weighted Average Interest Rates and Collateral Type

The table below summarizes short-term debt by weighted average interest rates and by collateral type at September 30, 2014 and December 31, 2013.

		September 30, 2014												December 31, 2013
(Dollars in Thousands)		Amount     Borrowed				Weighted   Average Interest Rate				Weighted   Average Days Until Maturity				Amount     Borrowed				Weighted   Average Interest Rate				Weighted   Average Days Until Maturity
Collateral Type
Residential loan collateral		$	1,188,179				1.71%				216			$	184,789				1.71%				228
Commercial loan collateral			52,895				5.15%				359				-				-				-
Real estate securities collateral			646,614				1.37%				23				677,974				1.34%				15
Total Short-Term Debt		$	1,887,688				1.69%				154			$	862,763				1.42%				61

Remaining Maturities of Short Term Debt

The following table presents the remaining maturities of short-term debt at September 30, 2014 and December 31, 2013.

(In Thousands)		September 30, 2014				December 31, 2013
Within 30 days		$	548,890			$	659,262
31 to 90 days			213,330				54,434
Over 90 days			1,125,468				149,067
Total Short-Term Debt		$	1,887,688			$	862,763

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- Definition

Schedule of Maturities of Debt Disclosure.

+ References

No definition available.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Article 5



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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