4. Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

(4) Debt

The terms and amounts of our other debt outstanding at March 31, 2019 and December 31, 2018 are summarized below:

			Amount Outstanding at
			March 31,		December 31,
			2019		2018
			(In thousands)
Description	Interest Rate	Maturity
Warehouse lines of credit	5.50% over one month Libor (Minimum 6.50%)	February 2021	$	46,890	$	38,198
	3.00% over one month Libor (Minimum 3.75%)	September 2020		72,101		99,885
	6.75% over a commercial paper rate (Minimum 7.75%)	November 2019		–		–
Residual interest financing	8.60%	January 2026		40,000		40,000
Subordinated renewable notes	Weighted average rate of 8.28% and 8.53% at March 31, 2019 and December 31, 2018 , respectively	Weighted average maturity of  July 2021 and January 2021 at March 31, 2019 and December 31, 2018, respectively		12,986		17,290
			$	171,977	$	195,373

On February 22, 2019 we renewed our $100 million warehouse credit line that was first established in May 2012. There was $46.9 million outstanding under this facility at March 31, 2019. The revolving period for this facility was extended to February 2021 followed by an amortization period through February 2023 for any receivables pledged at the end of the revolving period.

Unamortized debt issuance costs of $801,000 and $894,000 as of March 31, 2019 and December 31, 2018, respectively, have been excluded from the amount reported above for residual interest financing. Similarly, unamortized debt issuance costs of $1.9 million and $1.2 million as of March 31, 2019 and December 31, 2018, respectively, have been excluded from the Warehouse lines of credit amounts in the table above. These debt issuance costs are presented as a direct deduction to the carrying amount of the debt on our Unaudited Condensed Consolidated Balance Sheets.