Quarterly report pursuant to Section 13 or 15(d)

Mortgage Loans Held-for-Sale, at Fair Value (Notes)

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Mortgage Loans Held-for-Sale, at Fair Value (Notes)
3 Months Ended
Mar. 31, 2014
Mortgage Loans Held-for-Sale [Abstract]  
Mortgage Loans Held-for-Sale [Text Block]
Mortgage Loans Held-for-Sale, at Fair Value
Mortgage loans held-for-sale consists of residential mortgage loans carried at fair value as a result of a fair value option election. The following table presents the carrying value of the Company’s mortgage loans held-for-sale as of March 31, 2014 and December 31, 2013:
(in thousands)
March 31,
2014
 
December 31,
2013
Unpaid principal balance
$
173,293

 
$
680,840

Fair value adjustment
(12,272
)
 
(136,259
)
Carrying value
$
161,021

 
$
544,581



At March 31, 2014 and December 31, 2013, the Company pledged mortgage loans with a carrying value of $130.9 million and $200.8 million, respectively, as collateral for repurchase agreements and and FHLB advances. See Note 16 - Repurchase Agreements and Note 18 - Federal Home Loan Bank of Des Moines Advances.