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6. Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of debt outstanding

The terms of our debt outstanding at December 31, 2019 and 2018 are summarized below:

						December 31,				December 31,
						2019				2018
						(In thousands)
Description		Interest Rate		Maturity
Warehouse lines of credit		5.50% over one month Libor (Minimum 6.50%)		February 2021		$	40,558			$	38,198
		3.00% over one month Libor (Minimum 3.75%)		September 2020			96,225				99,885
		4.00% over a commercial paper rate (Minimum 5.00%)		December 2021			–				–
Residual interest financing		8.60%		January 2026			40,000				40,000
Subordinated renewable notes		Weighted average rate of 9.75% and 8.53% at December 31, 2019 and December 31, 2018, respectively		Weighted average maturity of  April 2022 and January 2021 at December 31, 2019 and December 31, 2018, respectively			17,534				17,290
						$	194,317			$	195,373

Schedule of expected maturity amounts for long-term debt

		Subordinated
Contractual maturity		renewable
date		notes
		(In thousands)
2020		$	6,006
2021			4,316
2022			2,591
2023			2,121
2024			825
Thereafter			1,675
Total		$	17,534

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- References

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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