Mortgage Loans Held for Investment and Related Assets (Tables)

12 Months Ended

Apr. 30, 2011

Mortgage Loans Held For Investment And Related Assets

Schedule of Mortgage Loan Portfolio

(dollars in 000s)
As of April 30,	2011						2010
	Amount			% of Total			Amount			% of Total
Adjustable-rate loans	$	333,828			58	%	$	411,122			60	%
Fixed-rate loans		239,146			42	%		272,562			40	%
		572,974			100	%		683,684			100	%
Unamortized deferred fees and costs		4,121						5,256
Less: Allowance for loan losses		(92,087	)					(93,535	)
	$	485,008					$	595,405

Schedule of Allowance for Loan Losses

(in 000s)
Year Ended April 30,	2011			2010			2009
Balance at beginning of the year	$	93,535		$	84,073		$	45,401
Provision		35,567			47,750			63,897
Recoveries		272			88			54
Charge-offs		(37,287	)		(38,376	)		(25,279	)
Balance at end of the year	$	92,087		$	93,535		$	84,073

Schedule of Portfolio Balance

(in 000s)
As of April 30,	2011				2010
	Portfolio		Related		Portfolio		Related
	Balance		Allowance		Balance		Allowance
Pooled (less than 60 days past due)	$	304,325	$	11,238	$	372,823	$	15,924
Impaired:
Individually (TDRs)		106,328		11,056		144,977		8,915
Individually (60 days or more past due)		162,321		69,793		165,884		68,696
	$	572,974	$	92,087	$	683,684	$	93,535

Schedule of Portfolio Balance and Related Allowance

(dollars in 000s)
	Outstanding		Loan Loss Allowance					% 30+ Days
	Principal Balance		Amount		% of Principal			Past Due
Purchased from SCC	$	357,814	$	81,396		22.7	%		41.7	%
All other		215,160		10,691		5.0	%		11.0	%
	$	572,974	$	92,087		16.1	%		30.2	%

Schedule of Credit Quality Indicators and Portfolio Balance

(in 000s)
Credit Quality Indicators	Purchased from SCC		All Other		Total Portfolio
Occupancy status:
Owner occupied	$	249,048	$	136,380	$	385,428
Non-owner occupied		108,766		78,780		187,546
	$	357,814	$	215,160	$	572,974
	­ ­
Documentation level:
Full documentation	$	108,509	$	157,270	$	265,779
Limited documentation		11,146		23,355		34,501
Stated income		205,485		21,705		227,190
No documentation		32,674		12,830		45,504
	$	357,814	$	215,160	$	572,974
	­ ­
Internal risk rating:
High	$	151,522	$	357	$	151,879
Medium		206,292		–		206,292
Low		–		214,803		214,803
	$	357,814	$	215,160	$	572,974

Schedule of Past Due Mortgage Loans

(in 000s)
	Less than 60		60 - 89 Days		90 + Days		Total
	Days Past Due		Past Due		Past Due(1)		Past Due		Current		Total
Purchased from SCC	$	37,371	$	4,882	$	132,326	$	174,579	$	183,235	$	357,814
All other		10,250		1,594		20,546		32,390		182,770		215,160
	$	47,621	$	6,476	$	152,872	$	206,969	$	366,005	$	572,974

⁽¹⁾ No loans past due 90 days or more are still accruing interest.

Schedule of Non-Accrual Loans

(in 000s)
As of April 30,	2011		2010
Loans:
Purchased from SCC	$	143,358
Other		14,106
		157,464	$	160,124
TDRs:
Purchased from SCC		2,849
Other		329
		3,178		31,506
Total non-accrual loans	$	160,642	$	191,630

Information Related to Impaired Loans

(in 000s)
	Portfolio Balance		Portfolio Balance		Total
	With Allowance		With No Allowance		Portfolio Balance		Related Allowance
As of April 30, 2011:
Purchased from SCC	$	190,074	$	54,000	$	244,074	$	75,373
Other		19,340		5,235		24,575		5,476
	$	209,414	$	59,235	$	268,649	$	80,849
	­ ­
As of April 30, 2010	$	288,309	$	22,552	$	310,861	$	77,611

Schedule of Allowance for Impaired Loans

(in 000s)
As of April 30,	2011		2010
Portion of total allowance for loan losses allocated to impaired loans and TDR loans:
Based on collateral value method	$	69,794	$	68,696
Based on discounted cash flow method		11,055		8,915
	$	80,849	$	77,611

Information Related to Activities of Non-Performing Assets

(in 000s)
For the Year Ended April 30,	2011		2010		2009
Average impaired loans:
Purchased from SCC	$	252,673
All other		37,082
	$	289,755	$	307,351	$	216,391
Interest income on impaired loans:
Purchased from SCC	$	5,795
All other		829
	$	6,624	$	8,548	$	5,964
Interest income on impaired loans recognized on a cash basis on non-accrual status:
Purchased from SCC	$	5,567
All other		744
	$	6,311	$	7,452	$	4,927

Schedule of Real Estate Owned

(in 000s)
Year Ended April 30,	2011			2010			2009
Balance, beginning of the period	$	29,252		$	44,533		$	350
Additions		16,463			19,341			65,171
Sales		(21,889	)		(24,308	)		(9,072	)
Impairments		(4,294	)		(10,314	)		(11,916	)
Balance, end of the period	$	19,532		$	29,252		$	44,533