Derivative and Hedging Instruments

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Terms of Interest Rate Cap Agreements

The following tables provide the terms of our interest rate cap agreements that were in effect as of September 30, 2020 and December 31, 2019:

(Dollars in millions)
As of September 30, 2020
Facility Amount		Facility Name	Purpose	Start	End	Notional		Cap Interest Rate (1)
$	400.0	Warehouse Facility II	Cap Floating Rate	12/2017	12/2020	$	205.0	5.50	%
300.0		Warehouse Facility IV	Cap Floating Rate	05/2017	04/2021	58.3		6.50	%
			Cap Floating Rate	05/2018	04/2021	87.5		6.50	%
			Cap Floating Rate	07/2019	07/2023	154.2		6.50	%
						300.0
100.0		Warehouse Facility V	Cap Floating Rate	08/2018	08/2023	75.0		6.50	%
150.0		Warehouse Facility VII	Cap Floating Rate	12/2017	11/2021	87.5		5.50	%
			Cap Floating Rate	01/2020	12/2023	62.5		5.50	%
						150.0
200.0		Warehouse Facility VIII	Cap Floating Rate	08/2019	08/2023	200.0		5.50	%

(Dollars in millions)
As of December 31, 2019
Facility Amount		Facility Name	Purpose	Start	End	Notional		Cap Interest Rate (1)
$	400.0	Warehouse Facility II	Cap Floating Rate	12/2017	12/2020	$	205.0	5.50	%
300.0		Warehouse Facility IV	Cap Floating Rate	05/2017	04/2021	100.0		6.50	%
			Cap Floating Rate	05/2018	04/2021	150.0		6.50	%
			Cap Floating Rate	07/2019	07/2023	50.0		6.50	%
						300.0
100.0		Warehouse Facility V	Cap Floating Rate	08/2018	08/2023	75.0		6.50	%
150.0		Warehouse Facility VII	Cap Floating Rate	12/2017	11/2021	143.8		5.50	%
200.0		Warehouse Facility VIII	Cap Floating Rate	08/2019	08/2023	200.0		5.50	%

(1)Rate excludes the spread over the LIBOR or commercial paper rate.