eTrade 2011 Annual Report Download - page 135
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The Company considers TDRs that become 30 days past due to have experienced a payment default. The
following table shows the recorded investment of TDRs at December 31, 2011 that experienced a payment
default within 12 months after the modification for the year ended December 31, 2011 (dollars in thousands):
Year Ended December 31, 2011
Number of
Loans
Recorded
Investment
One- to four-family(1) 310 $126,172
Home equity(2) 866 65,331
Total 1176 $191,503
(1) As of December 31, 2011, $34.1 million of the recorded investment in one- to four-family loans that had a payment default in the trailing
12 months were classified as current.
(2) As of December 31, 2011, $17.2 million of the recorded investment in home equity loans that had a payment default in the trailing 12
months were classified as current.
The Company evaluates the re-delinquency rates in order to monitor TDR performance. More recent TDR
vintages have lower re-delinquency rates, which demonstrate the improving trend of TDR performance. The
Company also monitors the average re-delinquency rates for TDRs twelve months after the modification
occurred, which are based on cumulative performance since the modification program began:
One- to
four-family
Home
equity
December 31, 2011 29 % 42 %
September 30, 2011 28 % 42 %
June 30, 2011 31 % 43 %
March 31, 2011 36 % 44 %
December 31, 2010 42 % 45 %
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