Fair Value Measurements Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31, 2015 and December 31, 2014:

Description of Financial Instrument (in thousands)	March 31, 2015		December 31, 2014
Best efforts contracts and related committed IRLCs	$	3,289	$	3,072
Uncommitted IRLCs	47,236		28,028
FMBSs related to uncommitted IRLCs	47,000		41,000
Best efforts contracts and related mortgage loans held for sale	12,281		61,233
FMBSs related to mortgage loans held for sale	62,000		27,000
Mortgage loans held for sale covered by FMBSs	61,563		26,825

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 March 31, 2015 and December 31, 2014:

Description of Financial Instrument (in thousands)	Fair Value Measurements March 31, 2015			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	$	79,180		$	—	$	79,180		$	—
Forward sales of mortgage-backed securities	(562		)	—		(562		)	—
Interest rate lock commitments	634			—		634			—
Best-efforts contracts	(107		)	—		(107		)	—
Total	$	79,145		$	—	$	79,145		$	—

Description of Financial Instrument (in thousands)	Fair Value Measurements December 31, 2014			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	$	92,794		$	—	$	92,794		$	—
Forward sales of mortgage-backed securities	(182		)	—		(182		)	—
Interest rate lock commitments	288			—		288			—
Best-efforts contracts	53			—		53			—
Total	$	92,953		$	—	$	92,953		$	—

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 Income, on assets and liabilities measured on a recurring basis for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
Description (in thousands)	2015			2014
Mortgage loans held for sale	$	358		$	2,788
Forward sales of mortgage-backed securities	(380		)	(565		)
Interest rate lock commitments	345			721
Best-efforts contracts	(159		)	(413		)
Total gain recognized	$	164		$	2,531

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
	March 31, 2015			March 31, 2015
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	$	—	Other liabilities	$	562
Interest rate lock commitments	Other assets	634		Other liabilities	—
Best-efforts contracts	Other assets	—		Other liabilities	107
Total fair value measurements		$	634		$	669

	Asset Derivatives			Liability Derivatives
	December 31, 2014			December 31, 2014
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	$	—	Other liabilities	$	182
Interest rate lock commitments	Other assets	288		Other liabilities	—
Best-efforts contracts	Other assets	58		Other liabilities	5
Total fair value measurements		$	346		$	187

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 March 31, 2015 and December 31, 2014. 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).

	March 31, 2015				December 31, 2014
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash, cash equivalents and restricted cash	$	36,098	$	36,098	$	22,486	$	22,486
Mortgage loans held for sale	79,180		79,180		92,794		92,794
Split dollar life insurance policies	202		202		187		187
Notes receivable	3,765		3,454		4,288		3,793
Commitments to extend real estate loans	634		634		289		289
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	—		—		58		58
Liabilities:
Notes payable - homebuilding operations	90,000		90,000		30,000		30,000
Notes payable - financial services operations	71,723		71,723		85,379		85,379
Notes payable - other	8,876		8,644		9,518		9,089
Convertible senior subordinated notes due 2017	57,500		67,634		57,500		67,634
Convertible senior subordinated notes due 2018	86,250		87,328		86,250		87,544
Senior notes due 2018	228,569		238,625		228,469		239,488
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	107		107		—		—
Forward sales of mortgage-backed securities	562		562		182		182
Off-Balance Sheet Financial Instruments:
Letters of credit	—		646		—		881