Fair Value Measurement (Tables)

9 Months Ended

Jan. 31, 2014

Fair Value Disclosures [Abstract]

Assets Remeasured At Fair Value On Recurring Basis

The following table presents the assets that were remeasured at fair value on a recurring basis during the nine months ended January 31, 2014 and 2013:

(dollars in 000s)
	Total			Level 1			Level 2			Level 3			Gains (losses)
As of January 31, 2014:
Mortgage-backed securities	$	439,395		$	—		$	439,395		$	—		$	(9,702	)
Municipal bonds	4,375			—			4,375			—			241
	$	443,770		$	—		$	443,770		$	—		$	(9,461	)
As a percentage of total assets	12.6		%	—		%	12.6		%	—		%
As of 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		%	—		%

Assets Remeasured At Fair Value On Non-Recurring Basis

The following table presents the assets that were remeasured at fair value on a non-recurring basis during the nine months ended January 31, 2014 and 2013:

(dollars in 000s)
	Total			Level 1			Level 2			Level 3			Losses
As of January 31, 2014:
REO	$	8,723		$	—		$	—		$	8,723		$	(437	)
Impaired mortgage loans held for investment	71,053			—			—			71,053			(4,022		)
	$	79,776		$	—		$	—		$	79,776		$	(4,459	)
As a percentage of total assets	2.3		%	—		%	—		%	2.3		%
As of 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		%

Quantitative Information About Level 3 Fair Value Measurements

The following table presents the quantitative information about our Level 3 fair value measurements, which utilize significant unobservable internally-developed inputs:

(in 000s)
	Fair Value at January 31, 2014		Valuation Technique	Unobservable Input	Range (Weighted Average)
REO	$	8,230	Third party pricing	Cost to list/sell Loss severity	5% – 34%(5%) 0% – 100%(53%)
Impaired mortgage loans held for investment – non TDRs	$	75,073	Collateral- based	Cost to list/sell Time to sell (months) Collateral depreciation Loss severity	0% – 159%(9%) 24(24) (132%) – 100%(41%) 0% – 100%(60%)
Impaired mortgage loans held for investment – TDRs	$	40,264	Discounted cash flow	Aged default performance Loss severity	26% – 41%(33%) 0% – 22%(6%)

Fair Value Measurements, Recurring and Nonrecurring

The carrying amounts and estimated fair values of our financial instruments are as follows:

(in 000s)
As of	January 31, 2014				January 31, 2013				April 30, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	$	437,404	$	437,404	$	418,385	$	418,385	$	1,747,584	$	1,747,584
Cash and cash equivalents – restricted	44,855		44,855		37,958		37,958		117,837		117,837
Receivables, net – short-term	677,221		679,590		949,160		949,160		206,835		206,810
Mortgage loans held for investment, net	282,149		195,282		357,887		217,019		338,789		210,858
Investments in AFS securities	443,770		443,770		397,313		397,313		486,876		486,876
Receivables, net – long-term	134,046		133,623		158,228		158,228		125,048		134,283
Liabilities:
Deposits	808,008		810,486		1,041,942		1,042,282		938,331		934,019
Long-term borrowings	906,529		953,944		906,725		946,793		906,680		964,630
Contingent consideration payments	10,523		10,523		10,871		10,871		11,277		11,277