Quarterly report pursuant to Section 13 or 15(d)

Mortgage Loans Held-for-Sale (Notes)

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Mortgage Loans Held-for-Sale (Notes)
9 Months Ended
Sep. 30, 2012
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 September 30, 2012 and December 31, 2011:
(in thousands)
September 30,
2012
 
December 31, 2011
Unpaid principal balance
$
14,156

 
$
5,655

Fair value adjustment
397

 
127

Carrying value
$
14,553

 
$
5,782



At September 30, 2012, the Company pledged mortgage loans with a carrying value of $14.6 million as collateral for repurchase agreements. See Note 12 - Repurchase Agreements.