Annual report pursuant to Section 13 and 15(d)

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

v3.3.1.900
Residential Mortgage Loans Held-for-Sale, at Fair Value (Notes)
12 Months Ended
Dec. 31, 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 December 31, 2015 and December 31, 2014:
(in thousands)
December 31,
2015
 
December 31,
2014
Unpaid principal balance
$
812,661

 
$
534,101

Fair value adjustment
(1,230
)
 
1,611

Carrying value
$
811,431

 
$
535,712



At December 31, 2015 and December 31, 2014, the Company pledged residential mortgage loans with a carrying value of $745.5 million and $416.8 million, respectively, as collateral for repurchase agreements and FHLB advances. See Note 17 - Repurchase Agreements and Note 19 - Federal Home Loan Bank of Des Moines Advances.