Quarterly report pursuant to Section 13 or 15(d)

Term Notes Payable

Term Notes Payable
9 Months Ended
Sep. 30, 2019
Term Notes Payable [Abstract]  
Term Notes Payable Term Notes Payable
The debt issued in connection with the on-balance sheet securitization discussed in Note 2 - Basis of Presentation and Significant Accounting Policies is classified as term notes payable and carried at outstanding principal balance, net of any unamortized deferred debt issuance costs, on the Company’s condensed consolidated balance sheets. As of September 30, 2019, the outstanding amount due on term notes payable was $394.2 million, net of deferred debt issuance costs, with a weighted average interest rate of 4.82% and weighted average remaining maturities of 4.7 years. At September 30, 2019, the Company pledged MSR with a carrying value of $591.1 million and weighted average underlying loan coupon of 4.27% as collateral for term notes payable.