Charles Schwab 2011 Annual Report Download - page 94
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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)
- 66 -
Residential real estate mortgages
Originated first Purchased first Home equity
December 31, 2010 mortgages mortgages Total lines of credit
Year of origination
Pre-2007 $ 352 $ 58 $ 410 $ 1,132
2007 384 9 393 245
2008 728 8 736 1,345
2009 884 12 896 466
2010 2,240 20 2,260 312
Total $ 4,588 $ 107 $ 4,695 $ 3,500
Origination FICO
< 620 $ 9 $ 2 $ 11 $ -
620 - 679 115 15 130 26
680 - 739 907 33 940 677
≥ 740 3,557 57 3,614 2,797
Total $ 4,588 $ 107 $ 4,695 $ 3,500
Updated FICO
< 620 $ 63 $ 9 $ 72 $ 49
620 - 679 147 8 155 99
680 - 739 730 29 759 499
≥ 740 3,648 61 3,709 2,853
Total $ 4,588 $ 107 $ 4,695 $ 3,500
Origination LTV (1)
≤ 70% $ 2,911 $ 55 $ 2,966 $ 2,375
71% - 89% 1,659 51 1,710 1,092
≥ 90% 18 1 19 33
Total $ 4,588 $ 107 $ 4,695 $ 3,500
(1) The computation of the Origination LTV ratio for a HELOC includes any first lien mortgage outstanding on the same
property at the time of origination. At December 31, 2010, $742 million of $3.5 billion in HELOCs were in a first lien
position.
8. Equipment, Office Facilities, and Property
Equipment, office facilities, and property are detailed below:
December 31, 2011 2010
Software $ 993 $ 902
Buildings 446 438
Information technology equipment 430 405
Leasehold improvements 307 282
Furniture and equipment 131 118
Telecommunications equipment 104 91
Land 59 57
Construction in progress 17 15
Total equipment, office facilities, and property 2,487 2,308
Accumulated depreciation and amortization (1,802) (1,684)
Total equipment, office facilities, and property – net $ 685 $ 624