Contingencies And Commitments

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Contingencies and Commitments

Contingencies and Commitments

The Company provides current directors and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Company.

In the normal course of business the Company may also enter into contracts that contain a variety of representations, warranties, and general indemnifications. The Company's maximum exposure under these arrangements, including future claims that may be made against the Company that have not yet occurred, is unknown. The Company has not incurred any costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has no liabilities recorded for these agreements as of December 31, 2014 and December 31, 2013.

The Company has a commitment related to a mortgage originator in which the Company owns a subordinated debt interest. The Company has committed to make additional subordinated debt investments, up to $4.0 million subject to the satisfaction of certain requirements by the borrower and to the extent the borrower requests to increase its borrowings. The borrower can request up to $2.0 million on or before December 31, 2015 and the remaining $2.0 million on or before June 12, 2016.

The Company has entered into a purchase agreement whereby it has committed to purchase newly issued consumer loans originated by a third party in an amount not to exceed $70 million in loans held by the Company at any time. The commitment expires in November 2015, and the actual volume of loans to be purchased by the Company will depend on the ability of the third party to originate sufficient volume of loans that qualify for purchase under the agreement. As of December 31, 2014 the Company has purchased $11.8 million in loans under the agreement.