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Short-Term Debt (Tables)

9 Months Ended

Sep. 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 September 30, 2017 and December 31, 2016.

Table 11.1 – Short-Term Debt

		September 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			$	438,243			$	1,325,000			2.80	%		12/2017-8/2018		150
Real estate securities repo		8			549,811				—				2.46	%		10/2017-12/2017		28
Total Short-Term Debt Facilities		12			988,054
Convertible notes, net		N/A			250,142				—				4.63	%		4/2018		197
Total Short-Term Debt					$	1,238,196

		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 September 30, 2017.

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

		September 30, 2017
(In Thousands)		Within 30 days				31 to 90 days				Over 90 days				Total
Collateral Type
Held-for-sale residential loans		$	—			$	120,219			$	318,024			$	438,243
Real estate securities		422,300				127,511				—				549,811
Total Secured Short-Term Debt		422,300				247,730				318,024				988,054
Convertible notes, net		—				—				250,142				250,142
Total Short-Term Debt		$	422,300			$	247,730			$	568,166			$	1,238,196

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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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