SunTrust 2007 Annual Report Download - page 145

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SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
rates observable in the market, is highly dependent on the ultimate closing of the loans. These “pull-through” rates are based
on the Company’s historical data and reflect an estimate of the likelihood of a commitment that will ultimately result in a
closed loan.
The following table shows a reconciliation of the beginning and ending balances for fair valued assets measured using
significant unobservable inputs:
Fair Value Measurements Using Significant
Unobservable Inputs
(Dollars in thousands)
Trading
Assets
Securities
Available
for Sale
Mortgage Loans
Held
for Sale Loans, net
Beginning balance January 1, 2007 $24,393 $734,633 $- $-
Total gains/(losses) (realized/unrealized):
Included in earnings (518,242) - (15,528) (60)
Included in other comprehensive income - 416 - -
Purchases and issuances 2,586,901 90,605 2,786 -
Settlements (11,149) (27,604) - -
Sales (49,550) - - -
Paydowns and maturities (66,361) (34,152) (2,498) -
Transfers from loans held for sale to loans held in portfolio - - (219,461) 219,461
Transfers into Level 3 984,153 105,809 716,028 1,383
Ending balance December 31, 2007 $2,950,145 $869,707 $481,327 $220,784
The amount of total gains/(losses) for the period included in
earnings attributable to the change in unrealized gains or losses
relating to assets and liabilities still held at December 31, 2007 ($518,242) $- ($15,528) ($60)
The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities, which are interest
rate lock commitments (“IRLCs”) on residential mortgage loans held for sale, measured using significant unobservable
inputs:
(Dollars in thousands)
Other Assets/
(Liabilities)
Beginning balance January 1, 2007 ($29,633)
Included in earnings:
Issuances (inception value) (183,336)
Fair value changes (115,563)
Expirations 91,458
Settlements of IRLCs and transfers into closed loans 217,471
Ending balance December 31, 2007 ($19,603)
The amount of total gains/(losses) for the period included in earnings attributable to the change in unrealized
gains or losses relating to IRLCs still held at December 31, 2007 ($19,603)
133