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Warehouse Borrowings (Tables)
9 Months Ended
Sep. 30, 2012
Warehouse Borrowings  
Schedule of information on warehouse borrowings

 

 

 

 

Maximum

 

 

 

 

 

 

 

Borrowing

 

Balance Outstanding At

 

 

 

Capacity

 

September 30, 2012

 

December 31, 2011

 

Short-term borrowings:

 

 

 

 

 

 

 

Repurchase agreement 1 (1)

 

$

40,000

 

$

35,612

 

$

20,163

 

Repurchase agreement 2 (2)

 

30,000

 

27,436

 

24,769

 

Repurchase agreement 3 (3)

 

50,000

 

50,137

 

13,759

 

Repurchase agreement 4

 

25,000

 

6,003

 

 

Repurchase agreement 5

 

40,000

 

12,502

 

 

Total short-term borrowings

 

$

185,000

 

$

131,690

 

$

58,691

 

 

 

(1)         In October 2012, the maximum borrowing capacity increased from $40.0 million to $47.5 million.

(2)         In August 2012, the maturity was extended to July 2013.

(3)         In August 2012, the maturity was extended to November 2012, and is expected to be renewed again at that time.  The amount over the maximum borrowing capacity is due to accrued interest.