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FAIR VALUE DISCLOSURES - (Tables)
 9 Months Ended
Sep. 30, 2019
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:
 
 
 
 
September 30, 2019
 
December 31, 2018
(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
 
$
108,550

 
$
108,550

 
$
181,897

 
$
181,897

Derivative assets, net
 
2
 
2,903

 
2,903

 
1,099

 
1,099

Mortgage warehouse borrowings
 
2
 
56,051

 
56,051

 
130,353

 
130,353

Loans payable and other borrowings
 
2
 
225,203

 
225,203

 
225,497

 
225,497

5.25% Senior Notes due 2021 (1)
 
2
 
—

 
—

 
547,304

 
544,500

6.625% Senior Notes due 2022 (2)
 
2
 
—

 
—

 
411,656

 
400,520

5.875% Senior Notes due 2023 (1)
 
2
 
347,991

 
372,750

 
347,566

 
337,750

5.625% Senior Notes due 2024 (1)
 
2
 
347,622

 
370,580

 
347,219

 
332,500

5.875% Senior Notes due 2027 (1)
 
2
 
493,869

 
543,150

 
—

 
—

5.75% Senior Notes due 2028(1)
 
2
 
444,694

 
489,375

 
—

 
—

Revolving Credit Facility
 
2
 
—

 
—

 
—

 
—

364-Day Credit Agreement
 
2
 
200,000

 
200,000

 
200,000

 
200,000

(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)Carrying value for the 2022 Senior Notes reflects the acquisition fair value adjustment, net of amortization, whereas the fair value reflects current market pricing.
Fair Value of Assets Measured on a Nonrecurring Basis The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis:

(Dollars in thousands)
 
 
For the Year Ended December 31,
Description:
Level in
Fair Value
Hierarchy
 
2018
Inventories
3
 
$
5,545