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Fair Value (Tables)

9 Months Ended

Jan. 31, 2013

Assets Remeasured At Fair Value On Recurring Basis


										(dollars in 000s)
		Total		Level 1		Level 2		Level 3		Gain

January 31, 2013:
Mortgage-backed securities	$	391,786	$	-	$	391,786	$	-	$	5,045
Municipal bonds		5,527		-		5,527		-		335
	$	397,313	$	-	$	397,313	$	-	$	5,380

As a percentage of total assets		10.1%		- %		10.1%		- %

January 31, 2012:
Mortgage-backed securities	$	306,475	$	-	$	306,475	$	-	$	2,956
Municipal bonds		7,712		-		7,712		-		451
	$	314,187	$	-	$	314,187	$	-	$	3,407

As a percentage of total assets		6.5%		- %		6.5%		- %

Assets Remeasured At Fair Value On Non-Recurring Basis


										(dollars in 000s)
		Total		Level 1		Level 2		Level 3		Loss

January 31, 2013:
REO	$	14,683	$	-	$	-	$	14,683	$	(350)
Impaired mortgage loans held for investment		87,949		-		-		87,949		(8,509)
	$	102,632	$	-	$	-	$	102,632	$	(8,859)

As a percentage of total assets		2.6%		- %		- %		2.6%

January 31, 2012:
REO		16,883		-		-		16,883		(772)
Impaired mortgage loans held for investment		103,509		-		-		103,509		(6,986)
	$	120,392	$	-	$	-	$	120,392	$	(7,758)

As a percentage of total assets		2.5%		- %		- %		2.5%

Quantitative Information About Level 3 Fair Value Measurements


										(dollars in 000s)
		Fair Value at	Valuation		Range
		January 31, 2013	Technique	Unobservable Input	(Weighted Average)

REO	$	13,852	Third party pricing	Cost to list/sell	5%	-	50%	(	6%	)
				Loss severity	0%	-	100%	(	52%	)

Impaired mortgage loans held for investment – non TDRs	$	87,926	Collateral-based	Cost to list/sell	0%	-	45%	(	7%	)
				Time to sell (months)			24	(	24	)
				Collateral depreciation	(24%)	-	100%	(	45%	)
				Loss severity	0%	-	100%	(	58%	)

Impaired mortgage loans held for investment – TDRs	$	54,282	Discounted cash flow	Aged default performance	30%	-	50%	(	41%	)
				Loss severity	0%	-	21%	(	4%	)

Fair Value Of Financial Instruments


									(in 000s)
As of		January 31, 2013				April 30, 2012
		Carrying		Estimated		Carrying		Estimated	Fair Value
		Amount		Fair Value		Amount		Fair Value	Hierarchy

Assets:
Cash and cash equivalents	$	418,385	$	418,385	$	1,944,334	$	1,944,334	Level 1
Cash and cash equivalents – restricted		37,958		37,958		48,100		48,100	Level 1
Receivables, net – short-term		949,160		949,160		193,858		193,858	Level 1
Mortgage loans held for investment, net		357,887		217,019		406,201		248,535	Level 3
Investments in available-for- sale securities		397,313		397,313		372,352		372,352	Level 2
Receivables, net – long-term		158,228		158,228		127,468		127,468	Level 1 & 3
Note receivable (including interest)		59,213		67,048		55,444		55,444	Level 3

Liabilities:
Deposits		1,041,942		1,042,282		833,047		831,251	Level 1 & 3
Long-term debt		906,725		946,793		1,040,549		1,077,223	Level 3

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

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