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FAIR VALUE DISCLOSURES (Tables)
 6 Months Ended
Jun. 30, 2018
Fair Value Disclosures [Abstract]  
Summary of Carrying Value and Fair Value of Financial Instruments
The carrying value and fair value of our financial instruments are as follows:
 
 
 
 
June 30, 2018
 
December 31, 2017
(Dollars in thousands)
 
Level in Fair
Value Hierarchy
 
Carrying
Value
 
Estimated
Fair
Value
 
Carrying
Value
 
Estimated
Fair
Value
Description:
 
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale
 
2
 
$
99,606

 
$
99,606

 
$
187,038

 
$
187,038

Derivative assets, net
 
2
 
2,451

 
2,451

 
1,352

 
1,352

Mortgage warehouse borrowings
 
2
 
49,818

 
49,818

 
118,822

 
118,822

Loans payable and other borrowings
 
2
 
136,508

 
136,508

 
139,453

 
139,453

5.25% Senior Notes due 2021 (1)
 
2
 
546,706

 
550,000

 
546,108

 
561,000

5.875% Senior Notes due 2023 (1)
 
2
 
347,282

 
348,250

 
346,998

 
369,705

5.625% Senior Notes due 2024 (1)
 
2
 
346,950

 
342,335

 
346,681

 
366,205

Revolving Credit Facility
 
2
 
—

 
—

 
—

 
—

Contingent consideration liability(2)
 
3
 
—

 
—

 
5,328

 
5,328

(1) Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.
(2) All payments related to our contingent consideration liability were paid during the first quarter of 2018 and no liability exists as of June 30, 2018.