WAREHOUSE NOTES PAYABLE (Tables) (Warehouse notes payable)

3 Months Ended

Mar. 31, 2013

Warehouse notes payable

Notes payable

Schedule of maximum borrowing amounts and outstanding balances under the warehouse notes payable

The maximum borrowing amounts and outstanding balances under the warehouse notes payable as of March 31, 2013 were as follows (in thousands):

	Maximum		Outstanding
Facility	Amount		Balance		Interest rate
Committed warehouse facility #1	$	575,000	$	284,095	Average 30-day LIBOR plus 1.85%
Committed warehouse facility #2	450,000		176,801		Average 30-day LIBOR plus 1.75%
Committed warehouse facility #3	35,000		7,125		Average 30-day LIBOR plus 2.50%
Committed warehouse facility #4	50,000		—		Average 30-day LIBOR plus 2.50%
Fannie Mae Repurchase agreement, uncommited line and open maturity	500,000		8,200		Average 30-day LIBOR plus 1.15%
Total	$	1,610,000	$	476,221