SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Components of Provision (Benefit) for Credit Losses

	For the three months ended				For the nine months ended
	September 30,				September 30,
Components of Provision (benefit) for Credit Losses (in thousands)	2019		2018		2019		2018
Provision (benefit) for loan losses	$	58	$	4	$	706	$	69
Provision (benefit) for risk-sharing obligations		(830)		515		2,158		773
Provision (benefit) for credit losses	$	(772)	$	519	$	2,864	$	842

Schedule of Net Warehouse Interest Income

	For the three months ended				For the nine months ended
	September 30,				September 30,
Components of Net Warehouse Interest Income (in thousands)	2019		2018		2019		2018
Warehouse interest income - loans held for sale	$	11,721	$	16,684	$	38,697	$	36,830
Warehouse interest expense - loans held for sale		(10,812)		(14,389)		(37,549)		(31,945)
Net warehouse interest income - loans held for sale	$	909	$	2,295	$	1,148	$	4,885
Warehouse interest income - loans held for investment	$	7,381	$	2,209	$	24,428	$	5,278
Warehouse interest expense - loans held for investment		(2,118)		(624)		(5,972)		(2,034)
Warehouse interest income - secured borrowings		888		960		2,696		960
Warehouse interest expense - secured borrowings		(888)		(960)		(2,696)		(960)
Net warehouse interest income - loans held for investment	$	5,263	$	1,585	$	18,456	$	3,244
Total net warehouse interest income	$	6,172	$	3,880	$	19,604	$	8,129

Schedule of Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents

	September 30,				December 31,
(in thousands)	2019		2018		2018		2017
Cash and cash equivalents	$	65,641	$	165,062	$	90,058	$	191,218
Restricted cash		9,138		16,226		20,821		6,677
Pledged cash and cash equivalents (NOTE 10)		5,361		40,325		9,469		88,785
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	80,140	$	221,613	$	120,348	$	286,680

Schedule of Contracts with Customers

	For the three months ended				For the nine months ended
	September 30,				September 30,
Description (in thousands)	2019		2018		2019		2018		Statement of income line item
Certain loan origination fees	$	18,754	$	15,981	$	45,665	$	39,637	Gains from mortgage banking activities
Property sales broker fees, investment management fees, assumption fees, application fees, and other		15,022		11,927		35,429		24,345	Other revenues
Total revenues derived from contracts with customers	$	33,776	$	27,908	$	81,094	$	63,982