DEBT (Tables)

12 Months Ended

Dec. 31, 2017

Debt

Schedule of Maturities

Year Ending December 31,	Maturities
2018	$	930,314
2019		11,394
2020		164,015
2021		—
2022		—
Thereafter		—
Total	$	1,105,723

Warehouse Facilities

Debt

Schedule of Debt Obligations

	December 31, 2017
(dollars in thousands)	Committed		Uncommitted		Temporary		Total Facility		Outstanding
Facility1	Amount		Amount		Increase		Capacity		Balance		Interest rate
Agency Warehouse Facility #1	$	425,000	$	300,000	$	—	$	725,000	$	100,188	30-day LIBOR plus 1.30%
Agency Warehouse Facility #2		500,000		300,000		—		800,000		346,291	30-day LIBOR plus 1.30%
Agency Warehouse Facility #3		480,000		—		400,000		880,000		44,619	30-day LIBOR plus 1.25%
Agency Warehouse Facility #4		350,000		—		—		350,000		129,787	30-day LIBOR plus 1.30%
Agency Warehouse Facility #5		30,000		—		—		30,000		19,057	30-day LIBOR plus 1.80%
Agency Warehouse Facility #6		250,000		250,000		—		500,000		130,859	30-day LIBOR plus 1.35%
Fannie Mae repurchase agreement, uncommitted line and open maturity		—		1,500,000		—		1,500,000		123,153	30-day LIBOR plus 1.15%
Total Agency Warehouse Facilities	$	2,035,000	$	2,350,000	$	400,000	$	4,785,000	$	893,954
Interim Warehouse Facility #1	$	85,000	$	—	$	—	$	85,000	$	10,290	30-day LIBOR plus 1.90%
Interim Warehouse Facility #2		100,000		—		—		100,000		24,662	30-day LIBOR plus 2.00%
Interim Warehouse Facility #3		75,000		—		—		75,000		10,594	30-day LIBOR plus 2.00% to 2.50%
Total Interim Warehouse Facilities	$	260,000	$	—	$	—	$	260,000	$	45,546
Debt issuance costs		—		—		—		—		(1,731)
Total warehouse facilities	$	2,295,000	$	2,350,000	$	400,000	$	5,045,000	$	937,769

	December 31, 2016
(dollars in thousands)	Committed		Uncommitted		Temporary		Total Facility		Outstanding
Facility1	Amount		Amount		Increase		Capacity		Balance		Interest rate
Agency Warehouse Facility #1	$	425,000	$	—	$	—	$	425,000	$	109,087	30-day LIBOR plus 1.40%
Agency Warehouse Facility #2		650,000		—		—		650,000		274,181	30-day LIBOR plus 1.40%
Agency Warehouse Facility #3		280,000		—		400,000		680,000		320,801	30-day LIBOR plus 1.35%
Agency Warehouse Facility #4		350,000		—		—		350,000		186,869	30-day LIBOR plus 1.40%
Agency Warehouse Facility #5		30,000		—		—		30,000		14,551	30-day LIBOR plus 1.80%
Fannie Mae repurchase agreement, uncommitted line and open maturity		—		1,500,000		—		1,500,000		943,505	30-day LIBOR plus 1.15%
Total agency warehouse facilities	$	1,735,000	$	1,500,000	$	400,000	$	3,635,000	$	1,848,994
Interim Warehouse Facility #1	$	85,000	$	—	$	—	$	85,000	$	36,916	30-day LIBOR plus 1.90%
Interim Warehouse Facility #2		200,000		—		—		200,000		70,196	30-day LIBOR plus 2.00%
Interim Warehouse Facility #3		75,000		—		—		75,000		36,005	30-day LIBOR plus 2.00% to 2.50%
Total interim warehouse facilities	$	360,000	$	—	$	—	$	360,000	$	143,117
Debt issuance costs		—		—		—		—		(1,928)
Total warehouse facilities	$	2,095,000	$	1,500,000	$	400,000	$	3,995,000	$	1,990,183

Notes Payable

Debt

Schedule of Debt Obligations

(in thousands, unless otherwise specified)	December 31,
Component	2017		2016		Interest rate and repayments
Unpaid principal balance	$	166,223	$	167,327	Interest rate varies - see above for further details;
Unamortized debt discount		(738)		(987)	quarterly principal payments of $0.3 million
Unamortized debt issuance costs		(1,627)		(2,177)
Carrying balance	$	163,858	$	164,163