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Other Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2016

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Assets

Other assets at March 31, 2016 and December 31, 2015, are summarized in the following table.

Table 11.1 – Components of Other Assets

(In Thousands)		March 31, 2016				December 31, 2015
Margin receivable		$	107,941			$	83,191
Pledged collateral		59,664				53,600
FHLBC stock		44,071				34,437
Investment receivable		7,772				3,870
Guarantee asset		4,272				5,697
REO		4,884				4,896
Fixed assets and leasehold improvements (1)		3,608				4,117
Prepaid expenses		2,183				3,640
Other		7,996				4,438
Total Other Assets		$	242,391			$	197,886

(1) Fixed assets and leasehold improvements have a basis of $6 million and accumulated depreciation of $2 million at March 31, 2016.

Summary of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities at March 31, 2016 and December 31, 2015 are summarized in the following table.

Table 11.2 – Components of Accrued Expenses and Other Liabilities

(In Thousands)		March 31, 2016				December 31, 2015
Guarantee obligations		$	24,896			$	22,704
Unsettled trades		15,014				29
Margin payable		14,247				6,415
Residential loan and MSR repurchase reserve		6,693				6,403
Accrued compensation		6,476				17,527
Restructuring liabilities		5,245				—
Legal reserve		2,000				2,000
Accrued operating expenses		1,621				1,845
Current accounts payable		1,038				4,764
Other		4,939				8,210
Total Other Liabilities		$	82,169			$	69,897

Restructuring and Related Costs

The following table presents our restructuring activities and the associated liabilities during the three months ended March 31, 2016.

Table 11.3 – Activities of Restructuring Liabilities

		Three Months Ended March 31, 2016
(In Thousands)		Termination Benefits				Contract Termination Costs				Total Restructuring Liabilities
Beginning balance		$	—			$	—			$	—
Costs incurred and expensed		8,738				1,921				10,659
Costs paid/settled		(1,326		)		(602		)		(1,928		)
Adjustments (1)		(3,486		)		—				(3,486		)
Ending Balance		$	3,926			$	1,319			$	5,245

(1) Amount represents equity compensation expense recorded during the three months ended March 31, 2016 related to equity awards that were accelerated, and will be distributed in future periods.

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
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