DEBT (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Senior Notes and Other Borrowings

Total debt consists of the following (in thousands):

	As of
	September 30, 2017						December 31, 2016
	Principal		Unamortized Debt Issuance Costs		Carrying Value		Principal		Unamortized Debt Issuance Costs		Carrying Value
5.25% Senior Notes due 2021, unsecured	$	550,000	$	4,192	$	545,808	$	550,000	$	5,089	$	544,911
5.875% Senior Notes due 2023, unsecured	350,000		3,143		346,857		350,000		3,569		346,431
5.625% Senior Notes due 2024, unsecured	350,000		3,454		346,546		350,000		3,858		346,142
Senior Notes subtotal	1,250,000		10,789		1,239,211		1,250,000		12,516		1,237,484
Loans payable and other borrowings	161,798		—		161,798		150,485		—		150,485
Revolving Credit Facility	—		—		—		—		—		—
Mortgage warehouse borrowings	61,292		—		61,292		198,564		—		198,564
Total Senior Notes and bank financing	$	1,473,090	$	10,789	$	1,462,301	$	1,599,049	$	12,516	$	1,586,533

Summary of Mortgage Subsidiary Borrowings

The following is a summary of our mortgage warehouse borrowings (in thousands):

	As of September 30, 2017
Facility	Amount Drawn		Facility Amount		Interest Rate	Expiration Date	Collateral (1)
Flagstar	$	2,703	$	20,000	LIBOR + 2.5%	30 days written notice	Mortgage Loans
Comerica	23,290		50,000		LIBOR + 2.25%	November 16, 2017	Mortgage Loans
J.P. Morgan	35,299		100,000		LIBOR + 2.375%	September 26, 2018	Mortgage Loans and Pledged Cash
Total	$	61,292	$	170,000
	As of 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

⁽¹⁾ The mortgage warehouse borrowings outstanding as of September 30, 2017 and December 31, 2016 were collateralized by a) $107.7 million and $233.2 million, respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.3 million and $1.6 million, respectively, of cash which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets.