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Other Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Summary of Other Assets
Other assets at March 31, 2015 and December 31, 2014, are summarized in the following table.
(In Thousands)
 
March 31, 2015
 
December 31, 2014
Margin receivable
 
$
79,760

 
$
65,374

Investment receivable
 
31,578

 
1,103

FHLBC stock
 
28,434

 
10,688

Pledged collateral
 
10,265

 
9,927

Guarantee asset
 
6,118

 
7,201

Income tax receivables
 
5,786

 
175

REO
 
5,305

 
4,391

Deposits
     
5,000

 
5,000

Prepaid expenses
 
2,816

 
3,372

Fixed assets and leasehold improvements (1)
 
3,868

 
3,008

Other
 
4,062

 
3,657

Total Other Assets
 
$
182,992

 
$
113,896

(1)
Fixed assets have a basis of $6 million and accumulated depreciation of $4 million at March 31, 2015.
Summary of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities at March 31, 2015 and December 31, 2014 are summarized in the following table.
(In Thousands)
 
March 31, 2015
 
December 31, 2014
Margin payable
 
$
15,007

 
$
6,455

Unsettled trades
 
11,050

 
—

Accrued compensation
 
8,518

 
19,273

Guarantee obligation
     
6,917

 
7,201

Residential repurchase reserve
 
4,292

 
3,724

Accrued operating expenses
 
3,096

 
3,334

Legal reserve
 
2,000

 
2,000

Income tax payable
 
721

 
—

Other
 
8,534

 
10,257

Total Other Liabilities
 
$
60,135

 
$
52,244