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4. Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

(4) Debt

The terms and amounts of our other debt outstanding at March 31, 2018 and December 31, 2017 are summarized below:

						Amount Outstanding at
						March 31,				December 31,
						2018				2017
						(In thousands)
Description		Interest Rate		Revolving Maturity
Warehouse lines of credit		5.50% over one month Libor (Minimum 6.50%)		April 2019		$	40,603			$	25,629
		5.50% over one month Libor (Minimum 6.25%)		August 2018			69,791				77,546
		6.75% over a commercial paper rate (Minimum 7.75%)		November 2019			12,760				11,100
Subordinated renewable notes		Weighted average rate of 8.08% and 7.99% at March 31, 2018 and December 31, 2017, respectively		Weighted average maturity of May 2020 and March 2020 at March 31, 2018 and December 31, 2017, respectively			16,348				16,566
						$	139,502			$	130,841

Debt issuance costs of $1.5 million and $1.9 million as of March 31, 2018 and December 31, 2017, respectively, have been excluded from the table above. These debt issuance costs are presented as a direct deduction to the carrying amount of the Warehouse lines of credit on our Unaudited Condensed Consolidated Balance Sheets.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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