Mortgage Loans Held For Investment And Related Assets (Tables)

12 Months Ended

Apr. 30, 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 April 30,	2014					2013
	Amount			% of Total		Amount			% of Total
Adjustable-rate loans	$	149,480		54	%	$	191,093		55	%
Fixed-rate loans	127,943			46	%	159,142			45	%
	277,423			100	%	350,235			100	%
Unamortized deferred fees and costs	2,277					2,868
Less: Allowance for loan losses	(11,272		)			(14,314		)
	$	268,428				$	338,789

Schedule Of Allowance For Loan Losses

Activity in the allowance for loan losses for the years ended April 30, 2014, 2013 and 2012 is as follows:

(in 000s)
Year ended April 30,	2014			2013			2012
Balance as of the beginning of the year	$	14,314		$	26,540		$	92,087
Provision	8,271			13,283			24,075
Recoveries	4,040			3,338			292
Charge-offs	(15,353		)	(28,847		)	(89,914		)
Balance as of the end of the year	$	11,272		$	14,314		$	26,540

Schedule Of Portfolio Balance And Related Allowance

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

(in 000s)
As of April 30,	2014				2013
	Portfolio Balance		Related Allowance		Portfolio Balance		Related Allowance
Pooled (less than 60 days past due)	$	158,496	$	4,508	$	207,319	$	5,628
Impaired:
Individually (TDRs)	43,865		4,346		55,061		4,924
Individually (60 days or more past due)	75,062		2,418		87,855		3,762
	$	277,423	$	11,272	$	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 April 30, 2014 is as follows:

(dollars in 000s)
	Outstanding Principal Balance		Loan Loss Allowance				% 30+ Days Past Due
			Amount		% of Principal
Purchased from SCC	$	159,566	$	8,655	5.4	%	27.1	%
All other	117,857		2,617		2.2	%	7.5	%
	$	277,423	$	11,272	4.1	%	20.1	%

Schedule Of Credit Quality Indicators

Credit quality indicators as of April 30, 2014 include the following:

(in 000s)
Credit Quality Indicators	Purchased from SCC		All Other		Total Portfolio
Occupancy status:
Owner occupied	$	117,457	$	77,572	$	195,029
Non-owner occupied	42,109		40,285		82,394
	$	159,566	$	117,857	$	277,423
Documentation level:
Full documentation	$	53,019	$	83,833	$	136,852
Limited documentation	4,897		12,971		17,868
Stated income	88,207		13,075		101,282
No documentation	13,443		7,978		21,421
	$	159,566	$	117,857	$	277,423
Internal risk rating:
High	$	45,688	$	—	$	45,688
Medium	113,878		—		113,878
Low	—		117,857		117,857
	$	159,566	$	117,857	$	277,423

Schedule Of Past Due Mortgage Loans

Detail of the aging of the mortgage loans in our portfolio as of April 30, 2014 is as follows:

(in 000s)
	Less than 60 Days Past Due		60 – 89 Days Past Due		90+ Days Past Due(1)		Total Past Due		Current		Total
Purchased from SCC	$	12,052	$	2,623	$	49,431	$	64,106	$	95,460	$	159,566
All other	5,421		847		8,451		14,719		103,138		117,857
	$	17,473	$	3,470	$	57,882	$	78,825	$	198,598	$	277,423

⁽¹⁾  We do not accrue interest on loans past due 90 days or more.

Schedule Of Non-Accrual Loans

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

			(in 000s)
As of April 30,	2014		2013
Loans:
Purchased from SCC	$	61,767	$	70,327
Other	12,528		14,906
	74,295		85,233
TDRs:
Purchased from SCC	4,648		3,719
Other	951		502
	5,599		4,221
Total non-accrual loans	$	79,894	$	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 April 30, 2014:
Purchased from SCC	$	27,924	$	71,075	$	98,999	$	3,239
Other	5,176		14,752		19,928		3,525
	$	33,100	$	85,827	$	118,927	$	6,764
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 April 30,	2014		2013
Portion of total allowance for loan losses allocated to impaired loans and TDR loans:
Based on collateral value method	$	2,418	$	3,762
Based on discounted cash flow method	4,346		4,924
	$	6,764	$	8,686

Information Related To Activities Of Non-Performing Assets

Information related to our impaired loans is as follows:

(in 000s)
For the year ended April 30,	2014		2013		2012
Average impaired loans:
Purchased from SCC	$	93,873	$	133,936	$	211,867
All other	22,607		25,425		33,940
	$	116,480	$	159,361	$	245,807