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Short-Term Debt (Tables)

3 Months Ended

Mar. 31, 2016

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 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.

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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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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