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Short-Term Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Short-Term Debt Facilities

The table below summarizes our short-term debt, including the facilities that are available to us, the outstanding balances, the weighted average interest rate, and the maturity information at June 30, 2017 and December 31, 2016.

Table 11.1 – Short-Term Debt

		June 30, 2017
(Dollars in Thousands)		Number of Facilities			Outstanding Balance				Limit				Weighted Average Interest Rate			Maturity		Weighted Average Days Until Maturity
Facilities
Residential loan warehouse		4			$	575,303			$	1,325,000			2.80	%		8/2017-3/2018		243
Real estate securities repo		8			469,491				—				2.35	%		7/2017-9/2017		22
Total Short-Term Debt Facilities		12			1,044,794
Convertible notes, net		N/A			250,013				—				4.63	%		4/2018		289
Total Short-Term Debt					$	1,294,807

		December 31, 2016
(Dollars in Thousands)		Number of Facilities			Outstanding Balance				Limit				Weighted Average Interest Rate			Maturity		Weighted Average Days Until Maturity
Facilities
Residential loan warehouse		4			$	485,544			$	1,325,000			2.40	%		1/2017-12/2017		206
Real estate securities repo		7			305,995				—				1.91	%		1/2017-3/2017		24
Total Short-Term Debt		11			$	791,539

Short-Term Debt by Collateral Type and Remaining Maturities

The following table presents the remaining maturities of our secured short-term debt by the type of collateral securing the debt as well as our convertible notes at June 30, 2017.

Table 11.2 – Short-Term Debt by Collateral Type and Remaining Maturities

		June 30, 2017
(In Thousands)		Within 30 days				31 to 90 days				Over 90 days				Total
Collateral Type
Held-for-sale residential loans		$	—			$	127,644			$	447,659			$	575,303
Real estate securities		386,150				83,341				—				469,491
Total Secured Short-Term Debt		386,150				210,985				447,659				1,044,794
Convertible notes, net		—				—				250,013				250,013
Total Short-Term Debt		$	386,150			$	210,985			$	697,672			$	1,294,807

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- Definition

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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