Loans Held-For-Sale

3 Months Ended

Mar. 31, 2016

4. Loans Held-for-Sale

Loans held-for-sale were as follows (in thousands):



		March 31,	December 31,
		2016	2015
Residential	$	19,186	21,354

Loans held-for-sale are reported at the lower of cost or fair value measured on an aggregate basis. As of March 31, 2016 and December 31, 2015 the lower of cost or fair value adjustment on loans held-for-sale was $1.6 million. BBX Capital transfers loans to held-for-sale when, based on the current economic environment and related market conditions, it does not have the intent to hold those loans for the foreseeable future.

As of March 31, 2016, foreclosure proceedings were in-process on $12.5 million of residential loans held for sale.