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Fair Value Measurements Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2012
Fair Value Measurements [Abstract]  
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

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
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

 
$

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

 
$

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

 
 
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

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

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


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