Navy Federal Credit Union 2013 Annual Report Download - page 41
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Navy Federal Credit Union • 2013 Financial Section
21
2013 ANNUAL REPORT
Accrual of interest on loans is discontinued when payments of principal or interest are past due by more
than 90 days. The unpaid principal balances (UPBs) of Navy Federal’s non-accrual loans totaled $230.9
million and $261.3 million at December 31, 2013 and 2012, respectively. If interest on those loans had been
accrued at original contracted rates, interest income would have been approximately $26.8 million and
$24.6 million higher for 2013 and 2012, respectively. The UPBs of loans on non-accrual status by portfolio
type as of December 31, 2013 and 2012 were as follows:
(dollars in thousands)
Consumer $ 73,287 $ 60,388
Real estate 157,656 200,950
Total $ $
The aging of UPB of delinquent loans by portfolio type as of December 31, 2013 and 2012 was as follows:
(dollars in thousands)
months
Total
Consumer $ 121,246 $ 114,974 $ 3,432 $ 181 $ 239,833
Credit card 66,977 86,147 21 — 153,145
Real estate 147,089 75,404 35,234 47,364 305,091
Total $ $ $ $ $
(dollars in thousands)
months
Total
Consumer $ 104,243 $ 97,900 $ 4,349 $ 427 $ 206,919
Credit card 48,834 63,007 3 — 111,844
Real estate 121,760 92,013 49,287 60,253 323,313
Total $ $ $ $ $
Navy Federal retains servicing on all mortgage loans it sells to investors. Navy Federal’s responsibilities
as servicer include remitting monthly principal and interest payments, maintaining escrow deposits,
performing loss mitigation and foreclosure activities, and funding servicing advances that have not yet
been collected from the borrower.