TWO Quarterly report pursuant to Section 13 or 15(d)

Other Assets (Notes)

3 Months Ended

Mar. 31, 2015

Other Assets

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



(in thousands)	March 31, 2015			December 31, 2014
Property and equipment at cost	$	4,988		$	4,849
Accumulated depreciation ⁽¹⁾	(2,260		)	(1,941		)
Net property and equipment	2,728			2,908
Prepaid expenses	1,626			1,790
Income taxes receivable	293			—
Deferred tax assets, net	52,384			40,847
Servicing advances	30,837			27,490
Federal Home Loan Bank stock	110,250			100,010
Equity investments	3,000			3,000
Other receivables	12,138			12,534
Total other assets	$	213,256		$	188,579

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(1)	Depreciation expense for the three months ended March 31, 2015 was $0.3 million.