Summary of Senior Notes and Other Borrowings |
Total debt consists of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of | | | September 30, 2019 | | December 31, 2018 | | | Principal | | Unamortized Debt Issuance (Costs) | | Carrying Value | | Principal | | Unamortized Debt Issuance (Costs) / Premium | | Carrying Value | 5.25% Senior Notes due 2021 | | $ | — |
| | $ | — |
| | $ | — |
| | $ | 550,000 |
| | $ | (2,695 | ) | | $ | 547,305 |
| 6.625% Senior Notes due 2022 | | — |
| | — |
| | — |
| | 400,000 |
| | 11,656 |
| | 411,656 |
| 5.875% Senior Notes due 2023 | | 350,000 |
| | (2,009 | ) | | 347,991 |
| | 350,000 |
| | (2,434 | ) | | 347,566 |
| 5.625% Senior Notes due 2024 | | 350,000 |
| | (2,378 | ) | | 347,622 |
| | 350,000 |
| | (2,781 | ) | | 347,219 |
| 5.875% Senior Notes due 2027 | | 500,000 |
| | (6,131 | ) | | 493,869 |
| | — |
| | — |
| | — |
| 5.75% Senior Notes due 2028 | | 450,000 |
| | (5,306 | ) | | 444,694 |
| | — |
| | — |
| | — |
| Senior Notes subtotal | | 1,650,000 |
| | (15,824 | ) | | 1,634,176 |
| | 1,650,000 |
| | 3,746 |
| | 1,653,746 |
| Loans payable and other borrowings | | 225,203 |
| | — |
| | 225,203 |
| | 225,497 |
| | — |
| | 225,497 |
| Revolving Credit Facility | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| 364-Day Credit Agreement | | 200,000 |
| | — |
| | 200,000 |
| | 200,000 |
| | — |
| | 200,000 |
| Mortgage warehouse borrowings | | 56,051 |
| | — |
| | 56,051 |
| | 130,353 |
| | — |
| | 130,353 |
| Total Senior Notes and other financing | | $ | 2,131,254 |
| | $ | (15,824 | ) | | $ | 2,115,430 |
| | $ | 2,205,850 |
| | $ | 3,746 |
| | $ | 2,209,596 |
|
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Summary of Mortgage Subsidiary Borrowings |
The following is a summary of our mortgage warehouse borrowings (in thousands):
| | | | | | | | | | | | | | | | | | As of September 30, 2019 | Facility | | Amount Drawn | | Facility Amount | | Interest Rate | | Expiration Date | | Collateral (1) | Warehouse A | | $ | 13,962 |
| | $ | 45,000 |
| | LIBOR + 1.75% | | On Demand | | Mortgage Loans | Warehouse B | | $ | 18,899 |
| | $ | 50,000 |
| | LIBOR + 1.75% | | On Demand | | Mortgage Loans | Warehouse C | | $ | 23,190 |
| | $ | 75,000 |
| | LIBOR + 1.95% | | On Demand | | Mortgage Loans and Restricted Cash | Total | | $ | 56,051 |
| | $ | 170,000 |
| | | | | | | | | | | | | | | | As of December 31, 2018 | Facility | | Amount Drawn | | Facility Amount | | Interest Rate | | Expiration Date | | Collateral (1) | Warehouse A | | $ | 29,484 |
| | $ | 45,000 |
| | LIBOR + 1.75% | | On Demand | | Mortgage Loans | Warehouse B | | 38,164 |
| | 85,000 |
| | LIBOR + 1.75% | | On Demand | | Mortgage Loans | Warehouse C | | 62,705 |
| | 100,000 |
| | LIBOR + 1.95% | | On Demand | | Mortgage Loans and Restricted Cash | Total | | $ | 130,353 |
| | $ | 230,000 |
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(1) The mortgage warehouse borrowings outstanding as of September 30, 2019 and December 31, 2018 were collateralized by a) $108.6 million and $181.9 million, respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.1 million and $1.6 million, respectively, of cash which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets.
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