Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Loans Sold to Third Parties – In the normal course of business, the Company is obligated to repurchase loans based on violations of representations and warranties in its loan sale agreements. The Company did not repurchase any loans during the three years ended December 31, 2017.

Outstanding Litigation – The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of December 31, 2017, the Company does not believe that any of its current legal proceedings, individually or in the aggregate, will have a material adverse effect on its operations, financial condition or cash flows.

Leases – As of December 31, 2017, the Company has entered into multi-year lease agreements for office space accounted for as non-cancelable operating leases. Total property lease expense on these leases for the years ended December 31, 2017, 2016, and 2015 amounted to $0.3 million, $0.3 million, and $0.2 million, respectively. The leases are secured by cash deposits in the amount of $0.2 million.

As of December 31, 2017, obligations under non-cancelable operating leases are as follows (dollar amounts in thousands):



Year Ending December 31,
2018	$	348
2019	353
2020	298
2021	217
2022	217
Thereafter	217
Total	$	1,650