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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

June 30, 2017

 

December 31, 2016



 

Hierarchy 

 

Carrying 

 

Fair Value

 

Carrying 

 

Fair Value

Secured notes receivable(1)

 

Level 2

 

$

 5,798 

 

$

 5,789 

 

$

 2,850 

 

$

 2,828 

Mortgage loans held for sale(2)

 

Level 2

 

$

 11,235 

 

$

 11,235 

 

$

 —

 

$

 —



 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.875% senior notes(3)

 

Level 2

 

$

 378,573 

 

$

 394,783 

 

$

 253,089 

 

$

 260,090 

5.875 % senior notes (3)

 

Level 2

 

$

 394,819 

 

$

 391,819 

 

$

 —

 

$

 —

Revolving line of credit(4)

 

Level 2

 

$

 —

 

$

 —

 

$

 195,000 

 

$

 195,000 

Insurance premium notes(4)

 

Level 2

 

$

 3,457 

 

$

 3,457 

 

$

 5,999 

 

$

 5,999 

Mortgage repurchase facilities(4)

 

Level 2

 

$

 10,551 

 

$

 10,551 

 

$

 —

 

$

 —

(1)

Estimated fair value of the secured notes received was based on cash flow models discounted at market interest rates that considered the underlying risks of the note.

(2)

The mortgage loans held for sale are carried at fair value as of June 30, 2017, which was based on quoted market prices for those committed mortgage loans.

(3)

Estimated fair value of the senior notes as of June 30, 2017 and December 31, 2016 incorporated recent trading activity in inactive markets.

(4)

Carrying amount approximates fair value due to short-term nature and interest rate terms.