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GUARANTY OBLIGATION AND ALLOWANCE FOR RISK-SHARING OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2013

GUARANTY OBLIGATION AND ALLOWANCE FOR RISK-SHARING OBLIGATIONS

A summary of our guaranty obligation for the three months ended March 31, 2013 and 2012 is as follows (in thousands):

	For the three months ended March 31,
	2013			2012
Beginning balance	$	21,155		$	9,921
Guaranty obligation recognized, following the sale of loan	2,154			1,002
Amortization of guaranty obligation	(957		)	(476		)
Ending Balance	$	22,352		$	10,447

Summary of allowance for risk-sharing

A summary of our allowance for risk-sharing for the three months ended March 31, 2013 and 2012 is as follows (in thousands):

	For the three months ended March 31,
	2013		2012
Beginning balance	$	15,670	$	14,917
Provision for risk sharing obligations	401		1,224
Write-offs	—		(1,619		)
Ending Balance	$	16,071	$	14,522

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References+ Details