Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Summary of composition of mortgage loans originated, by loan type; credit score; and loan-to-value ratio

The following table summarizes the composition of the RMC’s mortgage loan types originated, its homebuyers’ average credit scores and its loan-to-value ratios:

	SIX MONTHS ENDED JUNE 30,
			TWELVE MONTHS ENDED DECEMBER 31,
	2015		2014		2013		2012		2011		2010
Prime	66.2	%	67.6	%	57.2	%	48.6	%	42.2	%	34.9	%
Government (FHA/VA/USDA)	33.8	%	32.4	%	42.8	%	51.4	%	57.8	%	65.1	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%
Average FICO credit score	730		732		733		731		726		723
Average combined loan-to-value ratio	87.9	%	87.8	%	89.8	%	90.1	%	90.3	%	90.8	%

Changes in mortgage loan loss reserves and related legal reserves

The following table displays the changes in the Company’s mortgage loan loss reserves and related legal reserves during the six-month periods presented:

(in thousands)	2015			2014
Balance at January 1	$	1,397		$	11,472
Provision for losses	242			6,056
Settlements made	(322		)	(231		)
Balance at June 30	$	1,317		$	17,297

Changes in product liability reserves

The following table summarizes the changes in the Company’s product liability reserves during the six-month periods presented:

(in thousands)	2015			2014
Balance at January 1	$	25,556		$	23,139
Warranties issued	3,963			4,562
Changes in liability for accruals related to pre-existing warranties	(13		)	657
Settlements made	(5,018		)	(4,679		)
Balance at June 30	$	24,488		$	23,679

Changes in RHIC's insurance reserves

The following table displays changes in RHIC’s insurance reserves during the six-month periods presented:

(in thousands)	2015			2014
Balance at January 1	$	12,521		$	13,857
Insurance expense provisions or adjustments	—			1,900
Loss expenses paid	(1,569		)	(2,488		)
Balance at June 30	$	10,952		$	13,269