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Mortgage Loans Held For Investment And Related Assets
 3 Months Ended
Jul. 31, 2016
Mortgage Loans Held For Investment And Related Assets [Abstract]  
Mortgage Loans Held For Investment And Related Assets
NOTE 4: MORTGAGE LOANS HELD FOR INVESTMENT
The composition of our mortgage loan portfolio is as follows:
(dollars in 000s)
 
As of
 
July 31, 2016
 
July 31, 2015
 
April 30, 2016
 
 
Amount

 
% of Total

 
Amount

 
% of Total

 
Amount

 
% of Total

Adjustable-rate loans
 
$
102,535

 
52
%
 
$
124,752

 
53
%
 
$
108,251

 
52
%
Fixed-rate loans
 
93,539

 
48
%
 
111,096

 
47
%
 
97,957

 
48
%
 
 
196,074

 
100
%
 
235,848

 
100
%
 
206,208

 
100
%
Unamortized deferred fees and costs
 
1,611

 
 
 
1,941

 
 
 
1,695

 
 
Less: Allowance for loan losses
 
(5,310
)
 
 
 
(7,659
)
 
 
 
(5,518
)
 
 
 
 
$
192,375

 
 
 
$
230,130

 
 
 
$
202,385

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Our loan loss allowance as a percent of mortgage loans was 2.7% as of July 31, 2016, compared to 3.2% as of July 31, 2015 and 2.7% as of April 30, 2016.
Activity in the allowance for loan losses for the three months ended July 31, 2016 and 2015 is as follows:
(in 000s)
 
Three months ended July 31,
 
2016

 
2015

Balance at beginning of the period
 
$
5,518

 
$
7,886

Provision
 
—

 
(28
)
Recoveries
 
370

 
365

Charge-offs
 
(578
)
 
(564
)
Balance at end of the period
 
$
5,310

 
$
7,659

 
 
 
 
 

Detail of the aging of the mortgage loans in our portfolio as of July 31, 2016 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
 
$
8,849

 
$
745

 
$
38,503

 
$
48,097

 
$
68,392

 
$
116,489

All other
 
1,457

 
349

 
5,236

 
7,042

 
72,543

 
79,585

 
 
$
10,306

 
$
1,094

 
$
43,739

 
$
55,139

 
$
140,935

 
$
196,074

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