Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Senior Notes and Other Borrowings

Total debt consists of the following:

	As of December 31,
	2016						2015
(Dollars in thousands)	Principal		Unamortized Debt Issuance Costs		Carrying Value		Principal		Unamortized Debt Issuance Costs		Carrying Value
5.25% Senior Notes due 2021	550,000		5,089		544,911		550,000		6,287		543,713
5.875% Senior Notes due 2023	350,000		3,569		346,431		350,000		4,160		345,840
5.625% Senior Notes due 2024	350,000		3,858		346,142		350,000		4,396		345,604
Senior Notes subtotal	1,250,000		12,516		1,237,484		1,250,000		14,843		1,235,157
Loans payable and other borrowings	150,485		—		150,485		134,824		—		134,824
Revolving Credit Facility (1)	—		—		—		115,000		—		115,000
Mortgage warehouse borrowings	198,564		—		198,564		183,444		—		183,444
Total debt	$	1,599,049	$	12,516	$	1,586,533	$	1,683,268	$	14,843	$	1,668,425

⁽¹⁾ The Revolving Credit Facility includes $3.5 million and $5.1 million of unamortized debt issuance costs as of December 31, 2016 and 2015, respectively, which is presented in prepaid expenses and other assets, net on the consolidated balance sheets.

Summary of Mortgage Subsidiary Borrowings

The following is a summary of our mortgage subsidiary warehouse borrowings:

(Dollars in thousands)	At December 31, 2016
Facility	Amount Drawn		Facility Amount		Interest Rate	Expiration Date	Collateral (1)
Flagstar	$	37,093	$	55,000	LIBOR + 2.5%	30 days written notice	Mortgage Loans
Comerica	57,875		85,000		LIBOR + 2.25%	November 16, 2017	Mortgage Loans
J.P. Morgan	103,596		125,000		LIBOR + 2.375% to 2.5%	September 26, 2017	Mortgage Loans and Pledged Cash
Total	$	198,564	$	265,000
	At December 31, 2015
Facility	Amount Drawn		Facility Amount		Interest Rate	Expiration Date	Collateral (1)
Flagstar	$	63,210	$	75,000	LIBOR + 2.5%	30 days written notice	Mortgage Loans
Comerica	18,009		50,000		LIBOR + 2.25%	November 16, 2016	Mortgage Loans
JPMorgan	102,225		120,000		LIBOR + 2.375%	September 29, 2016	Mortgage Loans and Pledged Cash
Total	$	183,444	$	245,000

⁽¹⁾  The mortgage borrowings outstanding as of December 31, 2016 and 2015, are collateralized by $233.2 million and $201.7 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage receivables.

Principal Maturities of Total Debt

Principal maturities of total debt for the year ended December 31, 2016 are as follows (in thousands):

	Year Ended December 31,
2017	$	268,570
2018	44,722
2019	22,230
2020	6,253
2021	556,774
Thereafter	700,500
Total debt	$	1,599,049