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Other Assets
 9 Months Ended
Sep. 30, 2017
Other Assets [Abstract]  
Other Assets
Note 10 – Other Assets
 
September 30, 2017
 
December 31, 2016
Contingent loan repurchase asset (1)
$
318,954

 
$
246,081

Debt service accounts
38,753

 
42,822

Prepaid expenses (2)
33,951

 
57,188

Prepaid lender fees, net
9,896

 
9,023

Mortgage backed securities, at fair value
9,327

 
8,342

Derivatives, at fair value
7,852

 
9,279

Prepaid income taxes
6,314

 
8,392

Interest-earning time deposits
5,380

 
6,454

Real estate
3,700

 
5,249

Automotive dealer financing notes, net
—

 
33,224

Other
19,774

 
12,050

 
$
453,901

 
$
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 September 30, 2017 and December 31, 2016 includes the remaining balance of $20.2 million and $34.9 million, respectively.
Automotive dealer financing notes represent short-term inventory-secured floor plan loans – provided to independent used car dealerships through our Automotive Capital Services (ACS) venture – that have not been pledged to our automotive dealer loan financing facility. The balance of the notes of $8.6 million and $37.6 million are reported net of an allowance of $8.6 million and $4.4 million at September 30, 2017 and December 31, 2016, respectively. Changes in the allowance are as follows:
Periods ended September 30,
Three Months
 
Nine Months
2017
 
2016
 
2017
 
2016
Beginning balance
$
9,586

 
$
164

 
$
4,371

 
$
27

Provision
(1,019
)
 
108

 
4,196

 
245

Ending balance
$
8,567

 
$
272

 
$
8,567

 
$
272