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Other Assets - Schedule of Other Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Other Assets [Abstract]    
Contingent loan repurchase asset [1] $ 267,029 $ 246,081
Prepaid expenses [2] 56,316 57,188
Debt service accounts 43,268 42,822
Derivatives, at fair value 10,027 9,279
Prepaid lender fees, net 8,817 9,023
Mortgage backed securities, at fair value 8,658 8,342
Prepaid income taxes 7,699 8,392
Interest-earning time deposits 6,269 6,454
Real estate 4,474 5,249
Automotive dealer financing notes, net [3] 1,368 33,224
Other 14,692 12,050
Other assets $ 428,617 $ 438,104
[1] With respect to previously transferred Ginnie Mae mortgage loans for which we have the right or the obligation to repurchase under the applicable agreement, we re-recognize the loans in Other assets and a corresponding liability in Other liabilities.
[2] In connection with the sale of Agency MSRs in 2015, we placed $52.9 million in escrow for the payment of representation, warranty and indemnification claims associated with the underlying loans. Prepaid expenses at March 31, 2017 and December 31, 2016 includes the remaining balance of $36.4 million and $34.9 million, respectively.
[3] These notes represent short-term inventory-secured floor plan loans – provided to independent used car dealerships through our ACS venture – that have not been pledged to our automotive dealer loan financing facility. Automotive dealer financing notes are net of an allowance of $10.5 million and $4.4 million at March 31, 2017 and December 31, 2016, respectively. We recognized a provision for losses on these notes of $6.1 million and $0.05 million during the three months ended March 31, 2017 and 2016, respectively.