Fair Value Measurements Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Measurements [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The table below shows the notional amounts of our financial instruments at June 30, 2013 and December 31, 2012:

Description of financial instrument (in thousands)	June 30, 2013		December 31, 2012
Best efforts contracts and related committed IRLCs	$	3,291	$	1,184
Uncommitted IRLCs	65,424		25,854
FMBSs related to uncommitted IRLCs	66,000		26,000
Best efforts contracts and related mortgage loans held for sale	5,709		25,441
FMBSs related to mortgage loans held for sale	47,000		44,000
Mortgage loans held for sale covered by FMBSs	47,223		44,524

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The table below shows the level and measurement of assets and liabilities measured on a recurring basis at June 30, 2013 and December 31, 2012:

Description of Financial Instrument (in thousands)	Fair Value Measurements June 30, 2013			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mortgage loans held for sale	$	51,491		$	—	$	51,491		$	—
Forward sales of mortgage-backed securities	3,291			—		3,291			—
Interest rate lock commitments	(735		)	—		(735		)	—
Best-efforts contracts	14			—		14			—
Total	$	54,061		$	—	$	54,061		$	—

Description of Financial Instrument (in thousands)	Fair Value Measurements December 31, 2012			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mortgage loans held for sale	$	71,121		$	—	$	71,121		$	—
Forward sales of mortgage-backed securities	253			—		253			—
Interest rate lock commitments	1			—		1			—
Best-efforts contracts	(3		)	—		(3		)	—
Total	$	71,372		$	—	$	71,372		$	—

Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]

The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Operations, on assets and liabilities measured on a recurring basis for the three and six months ended June 30, 2013 and 2012:

	Three Months Ended June 30,						Six Months Ended June 30,
Description (in thousands)	2013			2012			2013			2012
Mortgage loans held for sale	$	(2,508	)	$	700		$	(1,584	)	$	103
Forward sales of mortgage-backed securities	3,368			(852		)	3,038			(87		)
Interest rate lock commitments	(929		)	34			(736		)	(13		)
Best-efforts contracts	140			(64		)	17			7
Total gain (loss) recognized	$	71		$	(182	)	$	735		$	10

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following tables set forth the fair value of the Company's derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item):

	Asset Derivatives			Liability Derivatives
	June 30, 2013			June 30, 2013
Description of Derivatives	Balance Sheet Location	Fair Value (in thousands)		Balance Sheet Location	Fair Value (in thousands)
Forward sales of mortgage-backed securities	Other assets	$	3,291	Other liabilities	$	—
Interest rate lock commitments	Other assets	—		Other liabilities	735
Best-efforts contracts	Other assets	14		Other liabilities	—
Total fair value measurements		$	3,305		$	735

	Asset Derivatives			Liability Derivatives
	December 31, 2012			December 31, 2012
Description of Derivatives	Balance Sheet Location	Fair Value (in thousands)		Balance Sheet Location	Fair Value (in thousands)
Forward sales of mortgage-backed securities	Other assets	$	253	Other liabilities	$	—
Interest rate lock commitments	Other assets	1		Other liabilities	—
Best-efforts contracts	Other assets	—		Other liabilities	3
Total fair value measurements		$	254		$	3

Fair Value, Assets Measured on Nonrecurring Basis [Table Text Block]

The table below summarizes the Company's assets measured on a non-recurring basis as of and for the three and six months ended June 30, 2013 and 2012:

		Three Months Ended June 30,				Six Months Ended June 30,
Description (In thousands)	Hierarchy	2013		2012 (2)		2013		2012 (2)
Adjusted basis of inventory (1)	Level 3	$	1,583	$	607	$	1,901	$	607
Impairments		1,201		472		2,101		567
Initial basis of inventory		$	2,784	$	1,079	$	4,002	$	1,174

(1) The fair values in the table above represent only assets whose carrying values were adjusted in the respective period.

(2) The carrying values for these assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying amounts and fair values of the Company's financial instruments at June 30, 2013 and December 31, 2012. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).

	June 30, 2013				December 31, 2012
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash, cash equivalents and restricted cash	$	178,730	$	178,730	$	154,178	$	154,178
Mortgage loans held for sale	51,491		51,491		71,121		71,121
Split dollar life insurance policies	725		708		710		678
Notes receivable	4,299		3,843		8,787		7,460
Commitments to extend real estate loans	—		—		1		1
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	14		14		—		—
Forward sales of mortgage-backed securities	3,291		3,291		253		253
Liabilities:
Notes payable - banks	50,442		50,442		67,957		67,957
Notes payable - other	9,429		9,476		11,105		11,148
Convertible senior subordinated notes due 2017	57,500		69,144		57,500		74,175
Convertible senior subordinated notes due 2018	86,250		88,191		—		—
Senior notes due 2018	227,870		248,400		227,670		250,700
Commitments to extend real estate loans	735		735		—		—
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	—		—		3		3
Off-Balance Sheet Financial Instruments:
Letters of credit	—		394		—		493