Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued operations

OMHHF historically was engaged in the business of originating and servicing FHA-insured multifamily and healthcare facility loans and securitizing these loans into GNMA mortgage backed securities. OMHHF offered mortgage services to developers of commercial properties including apartments, elderly housing and nursing homes that satisfied FHA criteria. During 2016, the Company sold substantially all of the assets of OMHHF and ceased it operations.

The Company determined that the sale of the assets of OMHHF met the criteria to be classified within discontinued operations, and the results of OMHHF are reported as discontinued operations in the consolidated statements of income. As of December 31, 2019, OMHHF has been completely dissolved.

For the year ended December 31, 2017, income before income taxes from discontinued operations was $2.1 million and was primarily due to an earn-out from the sale of OMHHF's pipeline business in 2016.

For the year ended December 31, 2017, cash used in financing activities from discontinued operations was $20.0 million of which $15.0 million were cash dividends paid to OMHHF's parent (E.A. Viner International Co.) and non-controlling interest, and $5.0 million were paid to E.A. Viner International due to the redemption of the parent's outstanding preferred stock.