XML 23 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Investments in Foreclosed Real Estate and Distressed Loans
 3 Months Ended
Jan. 31, 2016
Investments in Non-Performing Loan Portfolios and Foreclosed Real Estate [Abstract]  
Investments in Foreclosed Real Estate and Distressed Loans
Investments in Foreclosed Real Estate and Distressed Loans
Investments in REO and distressed loans consisted of the following, as of the dates indicated (amounts in thousands):
 
January 31,
2016
 
October 31,
2015
Investment in REO:
 
 
 
Held and used classification
$
35,128

 
$
48,514

Held for sale classification
12,197

 
1,719

 
47,325

 
50,233

Investment in distressed loans
1,251

 
1,497

 
$
48,576

 
$
51,730


Investments in REO
The table below provides, for the periods indicated, the activity in REO (amounts in thousands):
 
Three months ended January 31,
 
2016
 
2015
Balance, beginning of period
$
50,233

 
$
69,799

Additions
694

 
1,676

Sales
(3,367
)
 
(4,286
)
Impairments
(155
)
 
(169
)
Depreciation
(80
)
 
(86
)
Balance, end of period
$
47,325

 
$
66,934


Investments in Distressed Loans
Our investments in distressed loans represent nonperforming loans classified as nonaccrual in accordance with ASC 310-10, “Receivable.” Interest income is not recognized on nonaccrual loans. When a loan is classified as nonaccrual, any subsequent cash receipt is accounted for using the cost recovery method.