Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges

v3.8.0.1
Restructuring Charges
9 Months Ended
Sep. 30, 2017
Restructuring and Related Activities [Abstract]  
Restructuring Charges
Restructuring Charges
On July 28, 2016, the Company announced that its board of directors had approved a plan to discontinue the Company’s mortgage loan conduit and securitization business. In connection with the closure, the Company incurred the following charges, which are included within restructuring charges on the Company’s condensed consolidated statements of comprehensive income, for the three and nine months ended September 30, 2016:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(in thousands)
2017
 
2016
 
2017
 
2016
Termination benefits
$

 
$
652

 
$

 
$
652

Contract terminations

 
519

 

 
519

Other associated costs

 
18

 

 
18

Total
$

 
$
1,189

 
$

 
$
1,189



The mortgage loan conduit and securitization business wind down process was completed at the end of 2016. The Company did not incur any additional restructuring costs in 2017.