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Investment In Equity Affiliate
3 Months Ended
Mar. 31, 2012
Investment In Equity Affiliate [Abstract]  
INVESTMENT IN EQUITY AFFILIATE

NOTE 7 — INVESTMENT IN EQUITY AFFILIATE

Correspondent One facilitates the purchase of closed conforming and government guaranteed residential mortgages from approved mortgage bankers. Correspondent One provides members of Lenders One additional avenues to sell loans beyond Lenders One’s preferred investor arrangements and the members’ own network of loan buyers. We have significant influence over the general operations of Correspondent One consistent with our 49% ownership level and therefore account for our investment under the equity method. We have no funding commitments to Correspondent One as of March 31, 2012.

Our net loss on this investment using the equity method was $0.3 million for the three months ended March 31, 2012 (there is no comparative 2011 amount as Correspondent One did not commence operations until July 2011).