Mortgage Loans Held For Investment And Related Assets (Tables)

9 Months Ended

Jan. 31, 2014

Mortgage Loans Held For Investment And Related Assets [Abstract]

Schedule Of Mortgage Loan Portfolio

The composition of our mortgage loan portfolio is as follows:

(dollars in 000s)
As of	January 31, 2014					January 31, 2013					April 30, 2013
	Amount			% of Total		Amount			% of Total		Amount			% of Total
Adjustable-rate loans	$	158,369		54	%	$	203,624		55	%	$	191,093		55	%
Fixed-rate loans	132,956			46	%	168,515			45	%	159,142			45	%
	291,325			100	%	372,139			100	%	350,235			100	%
Unamortized deferred fees and costs	2,387					3,004					2,868
Less: Allowance for loan losses	(11,563		)			(17,256		)			(14,314		)
	$	282,149				$	357,887				$	338,789

Schedule Of Allowance For Loan Losses

Activity in the allowance for loan losses for the nine months ended January 31, 2014 and 2013 is as follows:

(in 000s)
Nine months ended January 31,	2014			2013
Balance at beginning of the period	$	14,314		$	26,540
Provision	7,224			10,250
Recoveries	3,250			2,745
Charge-offs	(13,225		)	(22,279		)
Balance at end of the period	$	11,563		$	17,256

Schedule Of Portfolio Balance And Related Allowance

The balance of these loans and the related allowance is as follows:

(in 000s)
As of	January 31, 2014				January 31, 2013				April 30, 2013
	Portfolio  Balance		Related  Allowance		Portfolio  Balance		Related  Allowance		Portfolio  Balance		Related  Allowance
Pooled (less than 60 days past due)	$	169,404	$	4,979	$	219,345	$	6,670	$	207,319	$	5,628
Impaired:
Individually (TDRs)	44,635		4,371		59,295		5,013		55,061		4,924
Individually (60 days or more past due)	77,286		2,213		93,499		5,573		87,855		3,762
	$	291,325	$	11,563	$	372,139	$	17,256	$	350,235	$	14,314

Schedule Of Mortgage Loans Held For Investment And The Related Allowance

Detail of our mortgage loans held for investment and the related allowance as of January 31, 2014 is as follows:

(dollars in 000s)
	Outstanding Principal Balance		Loan Loss Allowance				% 30+ Days Past Due
			Amount		% of Principal
Purchased from SCC	$	166,265	$	9,343	5.6	%	29.6	%
All other	125,060		2,220		1.8	%	7.6	%
	$	291,325	$	11,563	4.0	%	20.1	%

Schedule Of Credit Quality Indicators

Credit quality indicators as of January 31, 2014 include the following:

(in 000s)
Credit Quality Indicators	Purchased from SCC		All Other		Total Portfolio
Occupancy status:
Owner occupied	$	121,743	$	81,619	$	203,362
Non-owner occupied	44,522		43,441		87,963
	$	166,265	$	125,060	$	291,325
Documentation level:
Full documentation	$	55,477	$	90,345	$	145,822
Limited documentation	5,059		13,281		18,340
Stated income	91,796		13,265		105,061
No documentation	13,933		8,169		22,102
	$	166,265	$	125,060	$	291,325
Internal risk rating:
High	$	49,226	$	—	$	49,226
Medium	117,039		—		117,039
Low	—		125,060		125,060
	$	166,265	$	125,060	$	291,325

Schedule Of Past Due Mortgage Loans

Our mortgage loans held for investment include concentrations of loans to borrowers in certain states, which may result in increased exposure to lo

Schedule Of Non-Accrual Loans

Information related to our non-accrual loans is as follows:

(in 000s)
As of	January 31, 2014		January 31, 2013		April 30, 2013
Loans:
Purchased from SCC	$	64,573	$	76,235	$	70,327
Other	12,325		15,761		14,906
	76,898		91,996		85,233
TDRs:
Purchased from SCC	4,221		3,460		3,719
Other	957		504		502
	5,178		3,964		4,221
Total non-accrual loans	$	82,076	$	95,960	$	89,454

Information Related To Impaired Loans

Information related to impaired loans is as follows:

(in 000s)
	Balance With Allowance		Balance With No Allowance		Total Impaired Loans		Related Allowance
As of January 31, 2014:
Purchased from SCC	$	28,037	$	73,873	$	101,910	$	5,341
Other	5,030		14,982		20,012		1,243
	$	33,067	$	88,855	$	121,922	$	6,584
As of January 31, 2013:
Purchased from SCC	$	38,938	$	88,671	$	127,609	$	8,470
Other	6,757		18,428		25,185		2,116
	$	45,695	$	107,099	$	152,794	$	10,586
As of April 30, 2013:
Purchased from SCC	$	33,791	$	84,592	$	118,383	$	6,573
Other	7,601		16,932		24,533		2,113
	$	41,392	$	101,524	$	142,916	$	8,686

Schedule Of Allowance For Impaired Loans

Information related to the allowance for impaired loans is as follows:

(in 000s)
As of	January 31, 2014		January 31, 2013		April 30, 2013
Portion of total allowance for loan losses allocated to impaired loans and TDR loans:
Based on collateral value method	$	2,213	$	5,573	$	3,762
Based on discounted cash flow method	4,371		5,013		4,924
	$	6,584	$	10,586	$	8,686

Information Related To Activities Of Non-Performing Assets

Information related to activities of our non-performing assets is as follows:

(in 000s)
Nine months ended January 31,	2014		2013
Average impaired loans:
Purchased from SCC	$	116,061	$	137,703
All other	22,607		25,879
	$	138,668	$	163,582
Interest income on impaired loans:
Purchased from SCC	$	2,496	$	2,940
All other	224		232
	$	2,720	$	3,172
Interest income on impaired loans recognized on a cash basis on non-accrual status:
Purchased from SCC	$	2,438	$	2,881
All other	220		214
	$	2,658	$	3,095

Schedule Of Real Estate Owned

Activity related to our real estate owned (REO) is as follows:

(in 000s)
Nine months ended January 31,	2014			2013
Balance, beginning of the period	$	13,968		$	14,972
Additions	6,389			7,208
Sales	(10,975		)	(6,652		)
Impairments	(1,152		)	(1,676		)
Balance, end of the period	$	8,230		$	13,852