Quarterly report pursuant to Section 13 or 15(d)

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

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Residential Mortgage Loans Held-for-Sale, at Fair Value (Notes)
9 Months Ended
Sep. 30, 2015
Residential Mortgage Loans Held-for-Sale [Abstract]  
Residential Mortgage Loans Held-for-Sale [Text Block]
Residential Mortgage Loans Held-for-Sale, at Fair Value
Residential 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 residential mortgage loans held-for-sale as of September 30, 2015 and December 31, 2014:
(in thousands)
September 30,
2015
 
December 31,
2014
Unpaid principal balance
$
765,246

 
$
534,101

Fair value adjustment
2,762

 
1,611

Carrying value
$
768,008

 
$
535,712



At September 30, 2015 and December 31, 2014, the Company pledged residential mortgage loans with a carrying value of $703.0 million and $416.8 million, respectively, as collateral for repurchase agreements and FHLB advances. See Note 16 - Repurchase Agreements and Note 18 - Federal Home Loan Bank of Des Moines Advances.