Other Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2016

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Assets

Other assets at December 31, 2016 and December 31, 2015, are summarized in the following table.

Table 11.1 – Components of Other Assets

(In Thousands)	December 31, 2016		December 31, 2015
Margin receivable	$	68,038	$	83,191
FHLBC stock	43,393		34,437
Pledged collateral	42,875		53,600
REO	5,533		4,896
Guarantee asset	4,092		5,697
Fixed assets and leasehold improvements (1)	2,750		4,117
Prepaid expenses	1,639		3,640
Investment receivable	1,068		3,870
Other	9,857		4,438
Total Other Assets	$	179,245	$	197,886

(1) Fixed assets and leasehold improvements have a basis of $5 million and accumulated depreciation of $3 million at December 31, 2016.

Summary of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities at December 31, 2016 and December 31, 2015 are summarized in the following table.

Table 11.2 – Components of Accrued Expenses and Other Liabilities

(In Thousands)	December 31, 2016		December 31, 2015
Guarantee obligations	$	21,668	$	22,704
Accrued compensation	18,830		17,527
Margin payable	12,783		6,415
Residential loan and MSR repurchase reserve	5,432		6,403
Accrued operating expenses	4,493		1,845
Restructuring liabilities	2,297		—
Legal reserve	2,000		2,000
Current accounts payable	1,151		4,764
Deferred tax liability	898		—
Other	2,876		8,239
Total Other Liabilities	$	72,428	$	69,897

Schedule of Activities of Restructuring Liabilities

The following table presents our restructuring activities and the associated liabilities during the year ended December 31, 2016.

Table 11.3 – Activities of Restructuring Liabilities

	Year Ended December 31, 2016
(In Thousands)	Termination Benefits			Contract Termination Costs			Total Restructuring Liabilities
Beginning balance	$	—		$	—		$	—
Costs incurred and expensed	8,746			1,655			10,401
Costs paid/settled	(3,019		)	(1,599		)	(4,618		)
Other costs (1)	(3,486		)	—			(3,486		)
Ending Balance	$	2,241		$	56		$	2,297

(1) Amount represents equity compensation expense recorded during the year ended December 31, 2016 related to equity awards that were accelerated, and have been distributed or will be distributed in future periods.