COMMITMENTS

Operating Leases

The Company leases office space used in connection with its operations under various operating leases, which contain escalation clauses. The Company's operating leases relate to its office space in Charlotte, North Carolina and Burlingame, California.

Future minimum payments as of December 31, 2015 under operating lease agreements having an initial or remaining non-cancelable lease term in excess of one year are as follows (in thousands):



Year ending December 31,	Amount
2016	$	1,543
2017	1,374
2018	1,227
2019	1,025
2020	1,055
Total	$	6,224

Rental expense for all operating leases, except those with terms of a month or less that were not renewed, charged to continuing operations was $1.2 million, $1.1 million and $1.3 million, net of $0, $0 and $18,000 sublease rental income, for each of the years ended December 31, 2015, 2014 and 2013, respectively, and a majority of which is included in general and administrative expense in the consolidated statements of operations and comprehensive income.

Bonds

The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):



	Commitments Due By Period
	Total		Less Than 1 year		1-3 years		3-5 years		More Than 5 years
Surety bonds ^(a)	$	7,023	$	4,583	$	2,440	$	—	$	—
Litigation bonds ^(b)	2,540		2,540		—		—		—
Total	$	9,563	$	7,123	$	2,440	$	—	$	—

(a) State laws and regulations generally require businesses which engage in mortgage brokering activity to maintain a mortgage broker or similar license. Mortgage brokering activity is generally defined to include, among other things, receiving valuable consideration for offering assistance to a buyer in obtaining a residential mortgage or soliciting financial and mortgage information from the public and providing that information to an originator of residential mortgage loans. All states require that the Company maintain surety bonds for potential claims.

(b) Bonds required for certain legal matters. In addition, the Company has $3.0 million of litigation bonds for discontinued operations.