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58 2014 Form 10-K | H&R Block, Inc.
Loans given our internal risk rating of "high" generally had no documentation or were based on stated income.
Loans given our internal risk rating of "medium" generally had full documentation or were based on stated income,
with loan-to-value ratios at origination of more than 80%, and were made to borrowers with credit scores below 700
at origination. Loans given our internal risk rating of "low" generally had loan-to-value ratios at origination of less than
80% and were made to borrowers with credit scores greater than 700 at origination.
Our mortgage loans held for investment include concentrations of loans to borrowers in certain states, which may
result in increased exposure to loss as a result of changes in real estate values and underlying economic or market
conditions related to a particular geographical location. Approximately 51% of our mortgage loan portfolio consists
of loans to borrowers located in the states of Florida, California and New York.
Detail of the aging of the mortgage loans in our portfolio as of April 30, 2014 is as follows:
(in 000s)
Less than 60
Days Past Due 60 – 89 Days
Past Due
90+ Days
Past Due(1) Total
Past Due Current Total
Purchased from SCC $ 12,052 $ 2,623 $ 49,431 $ 64,106 $ 95,460 $ 159,566
All other 5,421 847 8,451 14,719 103,138 117,857
$ 17,473 $ 3,470 $ 57,882 $ 78,825 $ 198,598 $ 277,423
(1) We do not accrue interest on loans past due 90 days or more.
Information related to our non-accrual loans is as follows:
(in 000s)
As of April 30, 2014 2013
Loans:
Purchased from SCC $ 61,767 $ 70,327
Other 12,528 14,906
74,295 85,233
TDRs:
Purchased from SCC 4,648 3,719
Other 951 502
5,599 4,221
Total non-accrual loans $ 79,894 $ 89,454
Information related to impaired loans is as follows:
(in 000s)
Balance
With Allowance Balance
With No Allowance Total
Impaired Loans Related Allowance
As of April 30, 2014:
Purchased from SCC $ 27,924 $ 71,075 $ 98,999 $ 3,239
Other 5,176 14,752 19,928 3,525
$ 33,100 $ 85,827 $ 118,927 $ 6,764
As of April 30, 2013:
Purchased from SCC $ 33,791 $ 84,592 $ 118,383 $ 6,573
Other 7,601 16,932 24,533 2,113
$ 41,392 $ 101,524 $ 142,916 $ 8,686