SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Components of Provision for Credit Losses

	For the three months ended				For the six months ended
	June 30,				June 30,
Components of Provision for Credit Losses (in thousands)	2020		2019		2020		2019
Provision (benefit) for loan losses	$	(178)	$	25	$	928	$	648
Provision for risk-sharing obligations		5,081		936		27,618		2,988
Provision for credit losses	$	4,903	$	961	$	28,546	$	3,636

Schedule of Net Warehouse Interest Income

	For the three months ended				For the six months ended
	June 30,				June 30,
Components of Net Warehouse Interest Income (in thousands)	2020		2019		2020		2019
Warehouse interest income - loans held for sale	$	17,098	$	12,992	$	24,501	$	26,976
Warehouse interest expense - loans held for sale		(10,785)		(12,782)		(16,695)		(26,737)
Net warehouse interest income - loans held for sale	$	6,313	$	210	$	7,806	$	239
Warehouse interest income - loans held for investment	$	4,763	$	8,268	$	11,068	$	17,047
Warehouse interest expense - loans held for investment		(1,675)		(2,067)		(3,978)		(3,854)
Warehouse interest income - secured borrowings		849		920		1,695		1,808
Warehouse interest expense - secured borrowings		(849)		(920)		(1,695)		(1,808)
Net warehouse interest income - loans held for investment	$	3,088	$	6,201	$	7,090	$	13,193
Total net warehouse interest income	$	9,401	$	6,411	$	14,896	$	13,432

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

	June 30,				December 31,
(in thousands)	2020		2019		2019		2018
Cash and cash equivalents	$	275,202	$	74,184	$	120,685	$	90,058
Restricted cash		10,894		15,454		8,677		20,821
Pledged cash and cash equivalents (NOTE 9)		5,772		4,082		7,204		9,469
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	291,868	$	93,720	$	136,566	$	120,348

Schedule of Contracts with Customers

	For the three months ended				For the six months ended
	June 30,				June 30,
Description (in thousands)	2020		2019		2020		2019		Statement of income line item
Certain loan origination fees	$	8,689	$	15,381	$	30,037	$	26,912	Loan origination and debt brokerage fees, net
Property sales broker fees, investment management fees, assumption fees, application fees, and other		8,210		11,445		23,274		20,407	Other revenues
Total revenues derived from contracts with customers	$	16,899	$	26,826	$	53,311	$	47,319