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NOTE 4 LOANS HELD FOR RESALE
12 Months Ended
Dec. 31, 2011
Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]

NOTE 4 LOANS HELD FOR RESALE


Loans held for resale primarily represent subprime single family residential loans that we do not intend to hold to maturity. The carrying value of these loans amounted to $20,633 and $25,803 at December 31, 2011 and 2010, respectively. The balances at December 31, 2011 and 2010 are net of valuation allowances of $14,257 and $14,611, respectively. Loans held for resale at December 31, 2011 and 2010 include non-performing loans with a carrying value of $8,553 and $11,247, respectively.