Charles Schwab 2010 Annual Report Download - page 81

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THE CHARLES SCHWAB CORPORATION
Notes to Consolidated Financial Statements
(Tabular Amounts in Millions, Except Per Share Data, Option Price Amounts, Ratios, or as Noted)
Residential real estate mortgages
December 31, 2009
Originated first
mortgages
Purchased firs
t
mortgages Total
Home equity
lines of credit
Year of ori
g
ination
Pre-2007
$ 455
$69
$ 524
$1,182
2007
598
9
607
258
2008
1,102
9
1,111
1,410
2009
1,454
14
1,468
454
Total
$ 3,609
$ 101
$ 3,710
$3,304
Ori
g
ination FICO
< 62
0
$14
$2
$ 16
$
—
620 - 679
112
17
129
25
680 - 739
778
33
811
642
≥ 740
2,705
49
2,754
2,637
Total
$ 3,609
$ 101
$ 3,710
$3,304
U
p
dated FICO
< 62
0
$64
$12
$ 76
$49
620 - 679
144
8
152
95
680 - 739
561
25
586
432
≥ 740
2,84
0
56
2,896
2,728
Total
$ 3,609
$ 101
$ 3,710
$3,304
Ori
g
ination LTV
≤ 70%
$ 2,202
$44
$ 2,246
$2,259
71% - 89%
1,383
56
1,439
1,011
≥ 90%
24
1
25
34
Total
$ 3,609
$ 101
$ 3,710
$ 3,304
The computation of the origination LTV ratio for a HELOC includes any first lien mortgage outstanding on the same property at
the time of ori
g
ination. At December 31, 2009, $695 million of HELOCs were in a first lien
p
osition.
8. Equipment, Office Facilities, and Property
Equipment, office facilities, and property are detailed below:
-62 -
December 31, 2010 2009
Software
$902
$854
Buildin
g
s
438
428
Information technolo
gy
e
q
ui
p
ment
405
392
Leasehold im
p
rovements
282
296
Furniture and e
q
ui
p
ment
118
128
Telecommunications e
q
ui
p
ment
91
100
Land
57
57
Construction in
p
ro
g
ress
15
4
Total equipment, office facilities, and property
2,308
2,259
Accumulated de
p
reciation and amortization
(1,684)
(1,618)
Total e
q
ui
p
ment, office facilities, and
p
ro
p
ert
y
–
net
$ 624
$ 641
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