Fair Value Accounting (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The Company's assets and liabilities, which are measured at fair value on a recurring basis, include (in thousands):

			Fair Value Measurements at Reporting Date Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Marketable securities, current:
June 30, 2018 (unaudited)	$	7,122	$	2	$	7,120	$	—
December 31, 2017	$	11,795	$	1	$	—	$	11,794

Fair Value Inputs, Assets and Liabilities, Quantitative Information

	December 31, 2017
Weighted average:
Loss severity	62.1	%
Default rate	2.0	%
Prepayment speed	13.5	%
Servicer's optional redemption date	None

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the beginning and ending balances for the Company's retained mortgage securities – available-for-sale, which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (unaudited, in thousands):

	Six Months Ended June 30,
	2018			2017
Balance, beginning of period	$	11,794		$	9,791
Increases (decreases) to mortgage securities – available-for-sale:
Accretion	151			163
Proceeds from paydowns of securities (A)	(93		)	(209		)
Gains realized upon sale of mortgage securities	(2,931		)	—
Market value adjustment (B)	(1,801		)	(925		)
Securities transferred from level 3 to level 2	(7,120		)	—
Net decrease to level 3 mortgage securities – available-for-sale	(11,794		)	(971		)
Balance, end of period	$	—		$	8,820

(A) Cash received on mortgage securities with no cost basis was $0.8 million and $1.7 million for the six months ended June 30, 2018 and 2017, respectively.

(B) The market value decrease shown is based on the normal decline in the security values based on the reduction of future cash flows over time.

Fair Value, by Balance Sheet Grouping

The estimated fair values of the Company's financial instruments are (in thousands):

	June 30, 2018 (unaudited)				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Marketable securities	$	7,122	$	7,122	$	11,795	$	11,795
Financial liabilities:
Senior notes	$	85,938	$	25,257	$	85,938	$	23,018