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Short-Term Debt | 3 Months Ended
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Mar. 31, 2016
Debt Disclosure [Abstract] |
Short-Term Debt | Short-Term Debt We enter into repurchase agreements, bank warehouse agreements, and other forms of collateralized (and generally uncommitted) short-term borrowings with several banks and major investment banking firms. At March 31, 2016, we had outstanding agreements with several counterparties and we were in compliance with all of the related covenants. Further information about these financial covenants is set forth in Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Quarterly Report on Form 10-Q and in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2015. 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 March 31, 2016 and December 31, 2015. Table 12.1 – Short-Term Debt Facilities
|  | March 31, 2016
(Dollars in Thousands) |  | Number of Facilities |  | Outstanding Balance |  | Limit |  | Weighted Average Interest Rate |  | Maturity |  | Weighted Average Days Until Maturity
Residential loan warehouse |  | 4 |  |  | $ | 368,679 |  |  | $ | 1,400,000 |  |  | 1.97 | % |  | 6/2016-2/2017 |  | 240
Commercial loan warehouse |  | 2 |  |  | — |  |  | 300,000 |  |  | N/A |  |  | 4/2016-10/2016 |  | N/A
Real estate securities repo |  | 9 |  |  | 435,496 |  |  | — |  |  | 1.77 | % |  | 4/2016-6/2016 |  | 29
Total |  | 15 |  |  | $ | 804,175 |  |  |  |  |  |  |  |  |
|  | December 31, 2015
(Dollars in Thousands) |  | Number of Facilities |  | Outstanding Balance |  | Limit |  | Weighted Average Interest Rate |  | Maturity |  | Weighted Average Days Until Maturity
Residential loan warehouse |  | 4 |  |  | $ | 950,022 |  |  | $ | 1,400,000 |  |  | 1.90 | % |  | 2/2016-12/2016 |  | 182
FHLBC (1) |  | 1 |  |  | 137,622 |  |  | — |  |  | 0.21 | % |  | 7/2016-11/2016 |  | 204
Commercial loan warehouse |  | 2 |  |  | 73,718 |  |  | 300,000 |  |  | 4.13 | % |  | 4/2016-10/2016 |  | 265
Real estate securities repo |  | 9 |  |  | 693,641 |  |  | — |  |  | 1.47 | % |  | 1/2016-3/2016 |  | 24
Total |  | 16 |  |  | $ | 1,855,003 |  |  |  |  |  |  |  |  |
(1) | Amount represents the portion of our borrowings from the FHLBC that were due within 12 months at December 31, 2015. See Note 14 for additional information on our FHLB-member subsidiary's borrowing agreement with the FHLBC.
Borrowings under these facilities are generally charged interest based on a specified margin over the one-month LIBOR interest rate. At March 31, 2016, all of these borrowings were under uncommitted facilities and were due within 364 days (or less) of the borrowing date. The fair value of held-for-sale residential loans, commercial loans, and real estate securities pledged as collateral was $414 million, $7 million, and $531 million, respectively, at March 31, 2016 and $1.07 billion, $152 million, and $827 million, respectively, at December 31, 2015. For the three months ended March 31, 2016 and 2015, the average balance of short-term debt was $1.28 billion and $1.59 billion, respectively. At March 31, 2016 and December 31, 2015, accrued interest payable on short-term debt was $3 million and $2 million, respectively. We also maintain a $10 million committed line of credit with a financial institution that is secured by certain mortgage-backed securities with a fair market value in excess of $10 million at March 31, 2016. At both March 31, 2016 and December 31, 2015, we had no outstanding borrowings on this facility. Remaining Maturities of Short-Term Debt The following table presents the remaining maturities of short-term debt by the type of collateral securing the debt at March 31, 2016. Table 12.2 – Short-Term Debt by Collateral Type and Remaining Maturities
|  | March 31, 2016
(In Thousands) |  | Within 30 days |  | 31 to 90 days |  | Over 90 days |  | Total
Collateral Type |  |  |  |  |  |  |  |
Held-for-sale residential loans |  | $ | — |  |  | $ | 64,571 |  |  | $ | 304,108 |  |  | $ | 368,679 |
Commercial loans (1) |  | 4,337 |  |  | — |  |  | — |  |  | 4,337 |
Real estate securities |  | 309,112 |  |  | 122,047 |  |  | — |  |  | 431,159 |
Total Short-Term Debt |  | $ | 313,449 |  |  | $ | 186,618 |  |  | $ | 304,108 |  |  | $ | 804,175 |
(1) | One commercial loan serves as collateral under a securities repo facility.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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