Annual report pursuant to Section 13 and 15(d)

Mortgage Loans Held-for-Sale (Notes)

Mortgage Loans Held-for-Sale (Notes)
12 Months Ended
Dec. 31, 2011
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 December 31, 2011 and December 31, 2010:
(in thousands)
December 31, 2011
December 31, 2010
Unpaid principal balance


Fair value adjustment


Carrying value


At December 31, 2011, the Company pledged mortgage loans with a carrying value of $5.8 million as collateral for repurchase agreements. See Note 11 - Repurchase Agreements.