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Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies  
Schedule of the activity related to the repurchase reserve for previously sold loans

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

2020

 

2019

Beginning balance

    

$

8,969

    

$

7,657

Provision for repurchases (1)

 

 

5,009

 

 

5,487

Settlements

 

 

(3,936)

 

 

(4,175)

Total repurchase reserve

 

$

10,042

 

$

8,969

 

Schedule of corporate-owned life insurance trusts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At June 30, 2020

Corporate-owned life insurance trusts:

 

Trust #1

 

Trust #2

 

Trust #3

 

Total

Corporate-owned life insurance cash surrender value

    

$

4,958

 

$

3,796

 

$

1,980

 

$

10,734

Corporate-owned life insurance liability

 

 

5,641

 

 

4,425

 

 

2,152

 

 

12,218

Corporate-owned life insurance shortfall (1)

 

$

(683)

 

$

(629)

 

$

(172)

 

$

(1,484)

(1)

$1.3 million of the total shortfall was recorded as a change in retained deficit at the time of the consolidation of the trusts.  The additional shortfall was recorded in the accompanying consolidated statements of operations and comprehensive (loss) earnings.