TWO Annual report pursuant to Section 13 and 15(d)

Other Assets (Notes)

12 Months Ended

Dec. 31, 2015

Other Assets

Other assets as of December 31, 2015 and December 31, 2014 are summarized in the following table:



(in thousands)	December 31, 2015			December 31, 2014
Property and equipment at cost	$	5,997		$	4,849
Accumulated depreciation ⁽¹⁾	(3,303		)	(1,941		)
Net property and equipment	2,694			2,908
Prepaid expenses	1,572			1,790
Income taxes receivable	5,286			—
Deferred tax assets, net	44,318			40,847
Servicing advances	37,499			27,490
Federal Home Loan Bank stock	156,650			100,010
Equity investments	3,000			3,000
Other receivables	20,556			12,534
Total other assets	$	271,575		$	188,579

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(1)	Depreciation expense for the years ended December 31, 2015 and 2014 was $1.4 million and $1.1 million, respectively.