eTrade 2012 Annual Report Download - page 145
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The vast majority of the Company’s TDR loan modifications include an interest rate reduction in
combination with another type of concession. The Company prioritizes the interest rate reduction modifications
in combination with the following modification categories: principal forgiven, principal deferred and re-age/
extension/capitalization of accrued interest. Each class is mutually exclusive in that if a modification had an
interest rate reduction with principal forgiven and an extension, the modification would only show up in the
principal forgiven column in the table below. The following tables provide the number of loans, post-
modification balances immediately after being modified by major class, and the financial impact of modifications
during the years ended December 31, 2012 and 2011 (dollars in thousands):
Year Ended December 31, 2012
Interest Rate Reduction
Number of
Loans
Principal
Forgiven
Principal
Deferred
Re-age/
Extension/
Interest
Capitalization
Other with
Interest Rate
Reduction Other Total
One- to four-family 614 $52,612 $36,836 $131,588 $ 11,856 $19,455 $252,347
Home equity 638 276 118 4,933 38,838 9,440 53,605
Total 1,252 $52,888 $36,954 $136,521 $ 50,694 $28,895 $305,952
Year Ended December 31, 2011
Interest Rate Reduction
Number of
Loans
Principal
Forgiven
Principal
Deferred
Re-age/
Extension/
Interest
Capitalization
Other with
Interest Rate
Reduction Other Total
One- to four-family 1,177 $29,343 $78,582 $337,604 $ 25,354 $25,253 $496,136
Home equity 1,452 317 — 24,531 98,873 2,245 125,966
Total 2,629 $29,660 $78,582 $362,135 $124,227 $27,498 $622,102
Year Ended December 31, 2012
Financial Impact
Principal
Forgiven
Pre-Modification Weighted
Average Interest Rate
Post-Modification Weighted
Average Interest Rate
One- to four-family $16,624 5.9% 2.3%
Home equity 97 4.4% 1.5%
Total $16,721
Year Ended December 31, 2011
Financial Impact
Principal
Forgiven
Pre-Modification Weighted
Average Interest Rate
Post-Modification Weighted
Average Interest Rate
One- to four-family $9,308 6.1% 2.6%
Home equity 646 4.7% 1.8%
Total $9,954
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