Quarterly report pursuant to Section 13 or 15(d)

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

v3.4.0.3
Residential Mortgage Loans Held-for-Sale, at Fair Value (Notes)
3 Months Ended
Mar. 31, 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 March 31, 2016 and December 31, 2015:
(in thousands)
March 31,
2016
 
December 31,
2015
Unpaid principal balance
$
390,461

 
$
812,661

Fair value adjustment
(3,202
)
 
(1,230
)
Carrying value
$
387,259

 
$
811,431



At March 31, 2016 and December 31, 2015, the Company pledged residential mortgage loans with a carrying value of $323.2 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.