Quarterly report pursuant to Section 13 or 15(d)

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

v2.4.1.9
Residential Mortgage Loans Held-for-Sale, at Fair Value (Notes)
3 Months Ended
Mar. 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 March 31, 2015 and December 31, 2014:
(in thousands)
March 31,
2015
 
December 31,
2014
Unpaid principal balance
$
569,553

 
$
534,101

Fair value adjustment
(971
)
 
1,611

Carrying value
$
568,582

 
$
535,712



At March 31, 2015 and December 31, 2014, the Company pledged residential mortgage loans with a carrying value of $415.9 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.