WAREHOUSE NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2020

WAREHOUSE NOTES PAYABLE

Schedule of warehouse lines of credit

	June 30, 2020
(dollars in thousands)	Committed		Uncommitted		Total Facility		Outstanding
Facility1	Amount		Amount		Capacity		Balance		Interest rate
Agency Warehouse Facility #1	$	350,000	$	200,000	$	550,000	$	210,331	30-day LIBOR plus 1.15%
Agency Warehouse Facility #2		500,000		300,000		800,000		313,285	30-day LIBOR plus 1.15%
Agency Warehouse Facility #3		500,000		265,000		765,000		267,738	30-day LIBOR plus 1.15%
Agency Warehouse Facility #4		350,000		—		350,000		240,330	30-day LIBOR plus 1.15%
Agency Warehouse Facility #5		—		500,000		500,000		401,055	30-day LIBOR plus 1.15%
Total National Bank Agency Warehouse Facilities	$	1,700,000	$	1,265,000	$	2,965,000	$	1,432,739
Fannie Mae repurchase agreement, uncommitted line and open maturity		—		1,500,000		1,500,000		241,951
Total Agency Warehouse Facilities	$	1,700,000	$	2,765,000	$	4,465,000	$	1,674,690
Interim Warehouse Facility #1	$	135,000	$	—	$	135,000	$	102,030	30-day LIBOR plus 1.90%
Interim Warehouse Facility #2		100,000		—		100,000		34,000	30-day LIBOR plus 1.65%
Interim Warehouse Facility #3		33,761		—		33,761		33,761	30-day LIBOR plus 1.90% to 2.50%
Interim Warehouse Facility #4		19,810		—		19,810		19,810	30-day LIBOR plus 3.00%
Total National Bank Interim Warehouse Facilities	$	288,571	$	—	$	288,571	$	189,601
Debt issuance costs		—		—		—		(637)
Total warehouse facilities	$	1,988,571	$	2,765,000	$	4,753,571	$	1,863,654

¹ Agency Warehouse Facilities, including the Fannie Mae repurchase agreement are used to fund loans held for sale, while Interim Warehouse Facilities are used to fund loans held for investment.