Other Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Other assets at September 30, 2016 and December 31, 2015, are summarized in the following table.

Table 11.1 – Components of Other Assets



(In Thousands)	September 30, 2016		December 31, 2015
Margin receivable	$	96,650	$	83,191
Pledged collateral	43,802		53,600
FHLBC stock	43,393		34,437
REO	6,245		4,896
Guarantee asset	3,627		5,697
Fixed assets and leasehold improvements ⁽¹⁾	2,850		4,117
Prepaid expenses	2,017		3,640
Investment receivable	1,525		3,870
Other	7,677		4,438
Total Other Assets	$	207,786	$	197,886


(1)	Fixed assets and leasehold improvements have a basis of $5 million and accumulated depreciation of $2 million at September 30, 2016.

Accrued expenses and other liabilities at September 30, 2016 and December 31, 2015 are summarized in the following table.

Table 11.2 – Components of Accrued Expenses and Other Liabilities



(In Thousands)	September 30, 2016		December 31, 2015
Guarantee obligations	$	23,011	$	22,704
Margin payable	13,313		6,415
Accrued compensation	12,674		17,527
Residential loan and MSR repurchase reserve	6,617		6,403
Accrued operating expenses	5,958		1,845
Restructuring liabilities	3,667		—
Legal reserve	2,000		2,000
Current accounts payable	1,292		4,764
Other	1,176		8,239
Total Other Liabilities	$	69,708	$	69,897

The following table presents our restructuring activities and the associated liabilities during the three and nine months ended September 30, 2016.

Table 11.3 – Activities of Restructuring Liabilities



	Three Months Ended September 30, 2016									Nine Months Ended September 30, 2016
(In Thousands)	Termination Benefits			Contract Termination Costs			Total Restructuring Liabilities			Termination Benefits			Contract Termination Costs			Total Restructuring Liabilities
Beginning balance	$	3,387		$	772		$	4,159		$	—		$	—		$	—
Costs incurred and expensed	—			4			4			8,793			1,752			10,545
Costs paid/settled	(34		)	(462		)	(496		)	(1,954		)	(1,438		)	(3,392		)
Adjustments ⁽¹⁾	—			—			—			(3,486		)	—			(3,486		)
Ending Balance	$	3,353		$	314		$	3,667		$	3,353		$	314		$	3,667


(1)	Amount represents equity compensation expense recorded during the three and nine months ended September 30, 2016 related to equity awards that were accelerated, and will be distributed in future periods.