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NOTE 6—AVAILABLE-FOR-SALE MORTGAGE-BACKED AND INVESTMENT SECURITIES
The amortized cost basis and estimated fair values of available-for-sale mortgage-backed and investment
securities are shown in the following tables (dollars in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Values
December 31, 2006:
Mortgage-backed securities:
Backed by U.S. Government sponsored and Federal
agencies $ 9,375,444 $ 688 $(266,825) $ 9,109,307
Collateralized mortgage obligations and other 1,127,650 296 (19,561) 1,108,385
Total mortgage-backed securities 10,503,094 984 (286,386) 10,217,692
Investment securities:
Debt securities:
Asset-backed securities 2,163,538 9,929 (11,739) 2,161,728
Municipal bonds 620,261 13,316 (830) 632,747
Corporate bonds 105,692 481 (1,655) 104,518
Other debt securities 80,623 — (5,743) 74,880
Total debt securities 2,970,114 23,726 (19,967) 2,973,873
Publicly traded equity securities:
Preferred stock 455,801 4,905 (2,032) 458,674
Corporate investments 12,040 13,691 (1,592) 24,139
FHLB stock 244,212 — — 244,212
Retained interests from securitizations 2,930 463 — 3,393
Total investment securities 3,685,097 42,785 (23,591) 3,704,291
Total available-for-sale securities $14,188,191 $ 43,769 $(309,977) $13,921,983
December 31, 2005:
Mortgage-backed securities:
Backed by U.S. Government sponsored and Federal
agencies $ 9,687,666 $ — $(260,145) $ 9,427,521
Collateralized mortgage obligations and other 1,014,582 315 (19,006) 995,891
Total mortgage-backed securities 10,702,248 315 (279,151) 10,423,412
Investment securities:
Debt securities:
Asset-backed securities 1,376,315 1,811 (12,372) 1,365,754
Municipal bonds 168,682 1,884 (882) 169,684
Corporate bonds 74,931 — (2,171) 72,760
Other debt securities 78,989 — (5,504) 73,485
Total debt securities 1,698,917 3,695 (20,929) 1,681,683
Publicly traded equity securities:
Preferred stock 290,240 267 (2,142) 288,365
Corporate investments 53,152 94,412 (164) 147,400
FHLB stock 198,700 — — 198,700
Retained interests from securitizations 22,444 1,434 — 23,878
Total investment securities 2,263,453 99,808 (23,235) 2,340,026
Total available-for-sale securities $12,965,701 $100,123 $(302,386) $12,763,438
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