CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
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Dec. 31, 2014
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Dec. 31, 2013
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CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (6,322)us-gaap_ProfitLoss | $ (8,048)us-gaap_ProfitLoss |
Gain on sale of MSRs | (1,112)imh_GainLossOnSaleOfMortgageServicingRights | (77)imh_GainLossOnSaleOfMortgageServicingRights |
Change in fair value of mortgage servicing rights | 6,229us-gaap_MortgageServicingRightsMSRImpairmentRecovery | (6,490)us-gaap_MortgageServicingRightsMSRImpairmentRecovery |
Gain on sale of AmeriHome | (1,208)us-gaap_GainLossOnSaleOfBusiness | |
Impairment of deferred charge | 453us-gaap_AssetImpairmentCharges | 0us-gaap_AssetImpairmentCharges |
Gain on sale of loans | (23,668)us-gaap_GainLossOnSaleOfMortgageLoans | (61,743)us-gaap_GainLossOnSaleOfMortgageLoans |
Change in fair value of mortgage loans held-for-sale | (6,857)us-gaap_IncreaseDecreaseInLoansHeldForSale | 2,895us-gaap_IncreaseDecreaseInLoansHeldForSale |
Change in fair value of derivatives lending, net | 27imh_IncreaseDecreaseInFairValueOfDerivativesLendingNet | 1,797imh_IncreaseDecreaseInFairValueOfDerivativesLendingNet |
Provision for repurchases | 1,190imh_ProvisionForRepurchases | 1,750imh_ProvisionForRepurchases |
Origination of mortgage loans held-for-sale | (2,845,494)us-gaap_PaymentsForOriginationOfMortgageLoansHeldForSale | (2,493,884)us-gaap_PaymentsForOriginationOfMortgageLoansHeldForSale |
Sale and principal reduction on mortgage loans held-for-sale | 2,736,431us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale | 2,520,551us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale |
Gains from REO | (7,581)imh_LossFromRealEstateOwned | (8,816)imh_LossFromRealEstateOwned |
Change in fair value of net trust assets, excluding REO | (8,658)imh_IncreaseDecreaseInFairValueOfNetTrustAssetsExcludingRealEstateOwned | 6,250imh_IncreaseDecreaseInFairValueOfNetTrustAssetsExcludingRealEstateOwned |
Change in fair value of long-term debt | 4,014imh_IncreaseDecreaseInFairValueOfLongTermDebt | 687imh_IncreaseDecreaseInFairValueOfLongTermDebt |
Accretion of interest income and expense | 180,478imh_AccretionOfInterestIncomeAndExpense | 215,653imh_AccretionOfInterestIncomeAndExpense |
Change in REO impairment reserve | 4,776imh_IncreaseDecreaseInRealEstateOwnedImpairmentReserve | 4,906imh_IncreaseDecreaseInRealEstateOwnedImpairmentReserve |
Amortization of debt issuance costs and discount on note payable | 48imh_AmortizationOfDebtIssuanceCostAndDebtDiscountPremium | 30imh_AmortizationOfDebtIssuanceCostAndDebtDiscountPremium |
Stock-based compensation | 1,921us-gaap_ShareBasedCompensation | 1,971us-gaap_ShareBasedCompensation |
Net change in restricted cash | (953)us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities | 1,763us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities |
Net cash used in operating activities of discontinued operations | (7,560)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations | (8,194)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations |
Net change in other assets and liabilities | 3,827us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet | 3,468us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet |
Net cash provided by operating activities | 29,981us-gaap_NetCashProvidedByUsedInOperatingActivities | 174,469us-gaap_NetCashProvidedByUsedInOperatingActivities |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net change in securitized mortgage collateral | 634,714imh_NetChangeInSecuritizedMortgageCollateral | 739,154imh_NetChangeInSecuritizedMortgageCollateral |
Proceeds from the sale of mortgage servicing rights | 28,388us-gaap_ProceedsFromSaleOfMortgageServicingRightsMSR | 3,065us-gaap_ProceedsFromSaleOfMortgageServicingRightsMSR |
Finance receivable advances to customers | (76,317)us-gaap_PaymentsToAcquireFinanceReceivables | |
Repayments of finance receivables | 67,959us-gaap_ProceedsFromSaleAndCollectionOfFinanceReceivables | |
Net change in mortgages held-for-investment | 7us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment | (55)us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment |
Purchase of equipment | (18)us-gaap_PaymentsToAcquireProductiveAssets | (362)us-gaap_PaymentsToAcquireProductiveAssets |
Net principal change on investment securities available-for-sale | 76us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities | 72us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities |
Acquisition of noncontrolling interest | (350)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries | |
Proceeds from the sale of real estate owned | 36,288us-gaap_ProceedsFromSaleOfOtherRealEstate | 45,703us-gaap_ProceedsFromSaleOfOtherRealEstate |
Proceeds from the sale of AmeriHome | 10,200us-gaap_ProceedsFromDivestitureOfBusinesses | |
Net cash provided by investing activities | 701,297us-gaap_NetCashProvidedByUsedInInvestingActivities | 787,227us-gaap_NetCashProvidedByUsedInInvestingActivities |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayment of warehouse borrowings | (2,611,066)us-gaap_RepaymentsOfShortTermDebt | (2,364,679)us-gaap_RepaymentsOfShortTermDebt |
Borrowings under warehouse agreement | 2,718,150us-gaap_ProceedsFromShortTermDebt | 2,376,709us-gaap_ProceedsFromShortTermDebt |
Repayment of line of credit | (28,250)us-gaap_RepaymentsOfLinesOfCredit | (13,500)us-gaap_RepaymentsOfLinesOfCredit |
Borrowings under line of credit | 29,250us-gaap_ProceedsFromLinesOfCredit | 16,500us-gaap_ProceedsFromLinesOfCredit |
Repayment of securitized mortgage borrowings | (844,499)us-gaap_ProceedsFromRepaymentsOfSecuredDebt | (995,200)us-gaap_ProceedsFromRepaymentsOfSecuredDebt |
Issuance of Convertible Notes | 20,000us-gaap_ProceedsFromConvertibleDebt | |
Issuance of short-term structured debt | 6,000us-gaap_ProceedsFromNotesPayable | |
Principal payments on notes payable | (3,451)us-gaap_RepaymentsOfNotesPayable | |
Principal payments on capital lease | (736)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations | (769)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations |
Capitalized debt issuance costs | (60)us-gaap_PaymentsOfDebtIssuanceCosts | (267)us-gaap_PaymentsOfDebtIssuanceCosts |
Proceeds from exercise of stock options | 37us-gaap_ProceedsFromStockOptionsExercised | 175us-gaap_ProceedsFromStockOptionsExercised |
Net cash used in financing activities | (731,174)us-gaap_NetCashProvidedByUsedInFinancingActivities | (964,482)us-gaap_NetCashProvidedByUsedInFinancingActivities |
Net change in cash and cash equivalents | 104us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (2,786)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash and cash equivalents at beginning of year | 9,969us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations | 12,755us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations |
Cash and cash equivalents at end of period - continuing operations | 10,073us-gaap_CashAndCashEquivalentsAtCarryingValue | 9,969us-gaap_CashAndCashEquivalentsAtCarryingValue |
Cash and cash equivalents at end of period | 10,073us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations | 9,969us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations |
SUPPLEMENTARY INFORMATION (Continuing and Discontinued Operations): | ||
Interest paid, net | 56,595us-gaap_InterestPaid | 65,525us-gaap_InterestPaid |
Taxes paid, net of refunds | 725us-gaap_IncomeTaxesPaid | 209us-gaap_IncomeTaxesPaid |
NON-CASH TRANSACTIONS (Continuing and Discontinued Operations): | ||
Transfer of securitized mortgage collateral to real estate owned | 33,377us-gaap_TransferOfOtherRealEstate | 38,224us-gaap_TransferOfOtherRealEstate |
Mortgage servicing rights retained from loan sales and issuance of mortgage backed securities | 29,388imh_MortgageServicingRightsRetainedFromLoanSalesAndIssuanceOfMortgageBackedSecurities | 21,776imh_MortgageServicingRightsRetainedFromLoanSalesAndIssuanceOfMortgageBackedSecurities |
Common stock issued upon legal settlement | 3,448imh_CommonStockIssuedUponLegalSettlement | 2,760imh_CommonStockIssuedUponLegalSettlement |
Acquisition of equipment purchased through capital leases | 573us-gaap_CapitalLeaseObligationsIncurred | 1,171us-gaap_CapitalLeaseObligationsIncurred |
Common stock issued for acquisition of noncontrolling interest | 1,100us-gaap_StockIssued1 | |
Increase in ownership of AmeriHome | $ 911imh_IncreaseInOwnershipInterestOfSubsidiary |
X | ||||||||||
- Definition
This element represents the accretion to recognize interest income and interest expense using effective yields based on estimated fair values for trust assets and trust liabilities. No definition available.
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X | ||||||||||
- Definition
Represents the write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt and noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. No definition available.
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- Definition
The fair value of stock issued in noncash settlement of legal matters. No definition available.
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X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of mortgage servicing rights (MSRs). No definition available.
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- Definition
Represents the change in fair value of derivatives lending, net during the reporting period. No definition available.
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X | ||||||||||
- Definition
This element represents change in fair value of long-term debt during the reporting period. No definition available.
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X | ||||||||||
- Definition
This element represents change in fair value of trust assets excluding real estate owned due to decreases in the fair value of investment securities-for-sale and of securitized mortgage collateral during the reporting period. No definition available.
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X | ||||||||||
- Definition
This element represents net change during the reporting period real estate owned impairment reserve. No definition available.
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X | ||||||||||
- Definition
This element represents increase in ownership interest during the reporting period in noncash investing and financing activities. No definition available.
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X | ||||||||||
- Definition
This element represents gains losses from real estate owned at the time of sale or losses from further write-downs. No definition available.
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X | ||||||||||
- Definition
This element represents mortgage servicing rights retained from loan sales and issuance of mortgage backed securities during the reporting period in a noncash transaction. No definition available.
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X | ||||||||||
- Definition
This element represents net change during the reporting period in securitized mortgage collateral. No definition available.
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X | ||||||||||
- Definition
Amount of the current period expense charged against operations with respect to provision. No definition available.
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X | ||||||||||
- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase during the period in capital lease obligations due to entering into new capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
For the entity and the disposal group, cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. No definition available.
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
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X | ||||||||||
- Definition
The gains (losses) included in earnings that represent the difference between the sale price and the carrying value of loans made to finance real estate acquisitions. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of loans or securitized loans that are held with the intention to sell in the near future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The adjustment to the carrying value of the rights retained or purchased to service mortgages. These adjustments are made when the estimate of the fair value is changed. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of cash paid for the origination of mortgages that are held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for the purchase of amounts due from customers, clients, lessees, borrowers, or others under the terms of its agreements therewith. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from repayments of the balance excluding interest (principal) on loans receivable and leases held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from long-term debt wholly or partially secured by collateral. Excludes tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the sale or collection of receivables arising from the financing of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from sales of loans that are secured with real estate mortgages and are held with the intention to resell in the near future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the sale of servicing rights, which contractually entitle the servicer to receive fees and ancillary revenues for performing billing, collection, disbursement and recordkeeping services in connection with a mortgage portfolio. Rights may be obtained via (1) acquisition or assumption of a servicing obligation that does not relate to financial assets of the servicer or its consolidated affiliates; or (2) by originating mortgage loans and then (a) transferring the loans to a Variable Interest Entity (VIE) in a transaction that meets the necessary transfer and classification requirements, or (b) transferring the loans in a transaction that meets the requirements for sale accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the sale of other real estate not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Value transferred out of real estate owned (REO) in noncash transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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