Prepaid Expenses and Other Assets

9 Months Ended

Sep. 30, 2022

Prepaid Expenses and Other Assets [Abstract]

Prepaid Expenses and Other Assets

5. Prepaid Expenses and Other Assets

Prepaid expenses and other assets included the following (in thousands):

	September 30,		December 31,
	2022		2021
Prepaid insurance	$	37,384	$	37,814
Lot option and escrow deposits		61,070		61,649
Performance deposits		12,974		11,196
Deferred financing costs on revolving line of credit, net		4,246		5,135
Restricted cash (1)		11,095		5,931
Right of use assets		15,541		16,939
Mortgage loans held for investment at fair value		16,285		10,631
Mortgage loans held for investment at amortized cost		6,726		2,825
Derivative assets and mortgage servicing rights		29,731		19,645
Other assets and prepaid expenses		64,327		28,322
Total prepaid expenses and other assets	$	259,379	$	200,087

(1)Restricted cash consists of restricted cash related to land development, earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.