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DEBT (Tables)
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Summary of Total Debt
Total debt consists of the following (in thousands):
As of
September 30, 2021December 31, 2020
PrincipalUnamortized Debt Issuance (Costs)/PremiumCarrying ValuePrincipalUnamortized Debt Issuance (Costs)/PremiumCarrying Value
5.875% Senior Notes due 2023
$350,000 $(874)$349,126 $350,000 $(1,300)$348,700 
5.625% Senior Notes due 2024
350,000 (1,301)348,699 350,000 (1,705)348,295 
5.875% Senior Notes due 2027
500,000 (4,439)495,561 500,000 (5,026)494,974 
6.625% Senior Notes due 2027(1)
300,000 18,518 318,518 300,000 20,915 320,915 
5.75% Senior Notes due 2028
450,000 (3,972)446,028 450,000 (4,445)445,555 
5.125% Senior Notes due 2030
500,000 (5,599)494,401 500,000 (6,074)493,926 
Senior Notes subtotal$2,450,000 $2,333 $2,452,333 $2,450,000 $2,365 $2,452,365 
Loans payable and other borrowings406,859 — 406,859 348,741 — 348,741 
$800 Million Revolving Credit Facility(2), (4)
100,000 — 100,000 — — — 
$100 Million Revolving Credit Facility(3), (4)
26,692 — 26,692 — — — 
Mortgage warehouse borrowings235,685 — 235,685 127,289 — 127,289 
Total debt$3,219,236 $2,333 $3,221,569 $2,926,030 $2,365 $2,928,395 
(1) Consists of the remaining $9.6 million of 2027 6.625% WLH notes and $290.4 million 2027 6.625% TM Communities Notes issued by TM Communities in connection with the exchange offer as described below. Unamortized Debt Issuance (Cost)/Premium for such notes is reflective of fair value adjustments as a result of purchase accounting estimates.
(2) As of December 31, 2020, we had no outstanding borrowings on the $800 Million Revolving Credit Facility.
(3) The $100 Million Revolving Credit Facility was entered into during the third quarter of 2021.
(4)Unamortized debt issuance costs are included in Prepaid expenses and other assets, net on the Condensed Consolidated Balance Sheets. See balances of unamortized debt issuance cost below in the facility's description.
Summary of Mortgage Subsidiary Borrowings
The following is a summary of our mortgage warehouse borrowings (in thousands):

 As of September 30, 2021
FacilityAmount DrawnFacility Amount
Interest Rate(1)
Expiration Date
Collateral (2)
Warehouse A$4,079 $10,000 
LIBOR + 1.75%
On DemandMortgage Loans
Warehouse B57,047 75,000 
LIBOR + 1.75%
On DemandMortgage Loans
Warehouse C109,207 125,000 
LIBOR + 2.05%
On DemandMortgage Loans and Restricted Cash
Warehouse D(3)
65,352 100,000 
LIBOR + 1.65%
November 15, 2021Mortgage Loans
Total$235,685 $310,000 
 As of December 31, 2020
FacilityAmount DrawnFacility Amount
Interest Rate(1)
Expiration Date
Collateral (2)
Warehouse A$40,958 $55,000 
LIBOR + 1.75%
On DemandMortgage Loans
Warehouse B19,457 85,000 
LIBOR + 1.75%
On DemandMortgage Loans
Warehouse C43,148 75,000 
LIBOR + 2.05%
On DemandMortgage Loans and Restricted Cash
Warehouse D23,726 80,000 
LIBOR + 1.65%
November 15, 2021Mortgage Loans
Total$127,289 $295,000 
(1) Subject to certain interest rate floors.
(2) The mortgage warehouse borrowings outstanding as of September 30, 2021 and December 31, 2020 were collateralized by $286.0 million and $201.2 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale, and approximately $1.6 million and $1.3 million, respectively, of cash which is restricted cash on our Condensed Consolidated Balance Sheet.
(3) We intend on renewing this warehouse upon expiration.