Quarterly report pursuant to Section 13 or 15(d)

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

v3.5.0.2
Residential Mortgage Loans Held-for-Sale, at Fair Value (Notes)
6 Months Ended
Jun. 30, 2016
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 June 30, 2016 and December 31, 2015:
(in thousands)
June 30,
2016
 
December 31,
2015
Unpaid principal balance
$
602,854

 
$
812,661

Fair value adjustment
6,206

 
(1,230
)
Carrying value
$
609,060

 
$
811,431



At June 30, 2016 and December 31, 2015, the Company pledged residential mortgage loans with a carrying value of $543.8 million and $745.5 million, respectively, as collateral for repurchase agreements and FHLB advances. See Note 15 - Repurchase Agreements and Note 17 - Federal Home Loan Bank of Des Moines Advances.