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Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2020
Commitments and Contingencies  
Schedule of the activity related to the repurchase reserve for previously sold loans

 

 

 

 

 

 

 

 

 

March 31, 

 

December 31, 

 

 

2020

 

2019

Beginning balance

    

$

8,969

    

$

7,657

Provision for repurchases

 

 

5,395

 

 

5,487

Settlements

 

 

(1,780)

 

 

(4,175)

Total repurchase reserve

 

$

12,584

 

$

8,969

 

Schedule of corporate-owned life insurance trusts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate-owned life insurance trusts:

 

Trust #1

 

Trust #2

 

Trust #3

 

Total

Corporate-owned life insurance cash surrender value

    

$

4,351

 

$

3,328

 

$

1,797

 

$

9,476

Corporate-owned life insurance liability

 

 

4,929

 

 

3,888

 

 

1,940

 

 

10,757

Corporate-owned life insurance short-fall (1)

 

$

(578)

 

$

(560)

 

$

(143)

 

$

(1,281)

(1)

Total shortfall of $1.3 million was recorded as a change in retained deficit at the time of the consolidation of the trusts.