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Short-Term Debt (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

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

The table below summarizes the facilities that are available to us, the outstanding balances, the weighted average interest rate, and the maturity information of the short-term debt at September 30, 2015 and December 31, 2014 by the type of collateral securing the debt.

Table 12.1 – Short-Term Debt by Collateral Type

		September 30, 2015
(Dollars in Thousands)		Number of Facilities			Outstanding				Limit				Weighted Average Interest Rate			Maturity		Weighted Average Days Until Maturity
Collateral Type
Held-for-sale residential loans		4			$	1,161,202			$	1,550,000			1.73	%		12/2015-6/2016		147
Held-for-investment residential loans (1)		1			125,689				—				0.19	%		7/2016-9/2016		286
Commercial loans		3			110,408				450,000				3.59	%		11/2015-9/2016		225
Real estate securities		8			475,494				—				1.44	%		10/2015-12/2015		18
Total		16			$	1,872,793							1.67	%				128

(1) Amount represents the portion of our borrowings from the FHLBC that were due within 12 months as of September 30, 2015. See Note 14 for additional information on our FHLB-member subsidiary's borrowing agreement with the FHLBC.

		December 31, 2014
(Dollars in Thousands)		Number of Facilities			Outstanding				Limit				Weighted Average Interest Rate			Maturity		Weighted Average Days Until Maturity
Collateral Type
Held-for-sale residential loans		5			$	1,076,188			$	1,550,000			1.74	%		2/2015-12/2015		156
Commercial loans		3			109,128				400,000				3.66	%		4/2015-10/2016		185
Real estate securities		9			608,509				—				1.38	%		1/2015-3/2015		20
Total		17			$	1,793,825							1.73	%				112

Remaining Maturities of Short Term Debt

The following table presents the remaining maturities of short-term debt at September 30, 2015.

Table 12.2 – Short-Term Debt by Collateral Type and Remaining Maturities

		September 30, 2015
(In Thousands)		Within 30 days				31 to 90 days				Over 90 days				Total
Collateral Type
Held-for sale residential loans		$	—			$	465,673			$	695,529			$	1,161,202
Held-for-investment residential loans		—				—				125,689				125,689
Commercial loans		—				45,741				64,667				110,408
Real estate securities		433,435				42,059				—				475,494
Total Short-Term Debt		$	433,435			$	553,473			$	885,885			$	1,872,793

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Schedule of Maturities of Debt Disclosure.

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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 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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