Fair Value Measurements Fair Value Measurements (Tables)
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12 Months Ended |
Dec. 31, 2012
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Fair Value Measurements [Abstract] |
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Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
The table below shows the notional amounts of our financial instruments at December 31, 2012 and 2011: | | | | | | | | | | December 31, | Description of financial instrument (in thousands) | 2012 | | 2011 | Best efforts contracts and related committed IRLCs | $ | 1,184 |
| | $ | 1,088 |
| Uncommitted IRLCs | 25,854 |
| | 25,912 |
| FMBSs related to uncommitted IRLCs | 26,000 |
| | 26,000 |
| Best efforts contracts and related mortgage loans held for sale | 25,441 |
| | 14,058 |
| FMBSs related to mortgage loans held for sale | 44,000 |
| | 42,000 |
| Mortgage loans held for sale covered by FMBSs | 44,524 |
| | 42,227 |
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Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
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Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
The table below shows the level and measurement of assets and liabilities measured on a recurring basis at December 31, 2012 and 2011: | | | | | | | | | | | | | | | | | Description of Financial Instrument (in thousands) | Fair Value Measurements December 31, 2012 | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Mortgage loans held for sale | $ | 71,121 |
| | $ | — |
| | $ | 71,121 |
| | $ | — |
| Forward sales of mortgage-backed securities | 253 |
| | — |
| | 253 |
| | — |
| Interest rate lock commitments | 1 |
| | — |
| | 1 |
| | — |
| Best-efforts contracts | (3 | ) | | — |
| | (3 | ) | | — |
| Total | $ | 71,372 |
| | $ | — |
| | $ | 71,372 |
| | $ | — |
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| | | | | | | | | | | | | | | | | Description of Financial Instrument (in thousands) | Fair Value Measurements December 31, 2011 | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Mortgage loans held for sale | $ | 57,275 |
| | $ | — |
| | $ | 57,275 |
| | $ | — |
| Forward sales of mortgage-backed securities | (470 | ) | | — |
| | (470 | ) | | — |
| Interest rate lock commitments | 356 |
| | — |
| | 356 |
| | — |
| Best-efforts contracts | (129 | ) | | — |
| | (129 | ) | | — |
| Total | $ | 57,032 |
| | $ | — |
| | $ | 57,032 |
| | $ | — |
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Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block] |
The following table sets forth the amount of (loss) gain recognized, within our revenue in the Condensed Consolidated Statements of Operations, on assets and liabilities measured on a recurring basis: | | | | | | | | | | | | | | Year Ended December 31, | Description (in thousands) | 2012 | | 2011 | | 2010 | Mortgage loans held for sale | $ | (1,494 | ) | | $ | 3,065 |
| | $ | (1,220 | ) | Forward sales of mortgage-backed securities | 723 |
| | (591 | ) | | (712 | ) | Interest rate lock commitments | (357 | ) | | 366 |
| | 102 |
| Best-efforts contracts | 128 |
| | (436 | ) | | 32 |
| Total (loss) gain recognized | $ | (1,000 | ) | | $ | 2,404 |
| | $ | (1,798 | ) |
The follo |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
| | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | | December 31, 2012 | | December 31, 2012 | Description of Derivatives | | Balance Sheet Location | | Fair Value (in thousands) | | Balance Sheet Location | | Fair Value (in thousands) | Forward sales of mortgage-backed securities | | Other assets | | $ | 253 |
| | Other liabilities | | $ | — |
| Interest rate lock commitments | | Other assets | | 1 |
| | Other liabilities | | — |
| Best-efforts contracts | | Other assets | | — |
| | Other liabilities | | 3 |
| Total fair value measurements | | | | $ | 254 |
| | | | $ | 3 |
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| | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | | December 31, 2011 | | December 31, 2011 | Description of Derivatives | | Balance Sheet Location | | Fair Value (in thousands) | | Balance Sheet Location | | Fair Value (in thousands) | Forward sales of mortgage-backed securities | | Other assets | | $ | — |
| | Other liabilities | | $ | 470 |
| Interest rate lock commitments | | Other assets | | 356 |
| | Other liabilities | | — |
| Best-efforts contracts | | Other assets | | — |
| | Other liabilities | | 129 |
| Total fair value measurements | | | | $ | 356 |
| | | | $ | 599 |
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Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] |
The tables below show the level and measurement of assets measured on a non-recurring basis for the years ended December 31, 2012 and 2011: | | | | | | | | | | | | | | | | | Description of asset (In thousands) | Fair Value Measurements December 31, 2012 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Losses | | | | | | | Inventory | $ | 5,608 |
| $ | — |
| $ | — |
| $ | 5,608 |
| $ | 3,112 |
| Investments in Unconsolidated LLCs | 1,050 |
| — |
| — |
| 1,050 |
| 390 |
| | | | | | | Total fair value measurements | $ | 6,658 |
| $ | — |
| $ | — |
| $ | 6,658 |
| $ | 3,502 |
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| | | | | | | | | | | | | | | | | Description of asset (In thousands) | Fair Value Measurements December 31, 2011 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Losses | | | | | | | Inventory | $ | 43,659 |
| $ | — |
| $ | — |
| $ | 43,659 |
| $ | 20,964 |
| Investments in Unconsolidated LLCs | 970 |
| — |
| — |
| 970 |
| 1,029 |
| | | | | | | Total fair value measurements | $ | 44,629 |
| $ | — |
| $ | — |
| $ | 44,629 |
| $ | 21,993 |
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Financial Inst |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
The following table presents the carrying amounts and fair values of the Company's financial instruments at December 31, 2012 and 2011. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). | | | | | | | | | | | | | | | | | | | | December 31, 2012 | | December 31, 2011 | (In thousands) | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Assets: | | | | | | | | | Cash, cash equivalents and restricted cash | | $ | 154,178 |
| | $ | 154,178 |
| | $ | 101,127 |
| | $ | 101,127 |
| Mortgage loans held for sale | | 71,121 |
| | 71,121 |
| | 57,275 |
| | 57,275 |
| Split dollar life insurance policies | | 710 |
| | 678 |
| | 719 |
| | 655 |
| Notes receivable | | 8,787 |
| | 7,460 |
| | 851 |
| | 753 |
| Commitments to extend real estate loans | | 1 |
| | 1 |
| | 356 |
| | 356 |
| Forward sales of mortgage-backed securities | | 253 |
| | 253 |
| | — |
| | — |
| Liabilities: | | | | | | | | | Notes payable - banks | | 67,957 |
| | 67,957 |
| | 52,606 |
| | 52,606 |
| Notes payable - other | | 11,105 |
| | 11,148 |
| | 5,521 |
| | 6,076 |
| Convertible senior subordinated notes | | 57,500 |
| | 74,175 |
| | — |
| | — |
| Senior notes | | 227,670 |
| | 250,700 |
| | 239,016 |
| | 218,925 |
| Best-efforts contracts for committed IRLCs and mortgage loans held for sale | | 3 |
| | 3 |
| | 470 |
| | 470 |
| Forward sales of mortgage-backed securities | | — |
| | — |
| | 129 |
| | 129 |
| Off-Balance Sheet Financial Instruments: | | | | | | | | | Letters of credit | | — |
| | 493 |
| | — |
| | 792 |
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