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Loans with Government Guarantees
6 Months Ended
Jun. 30, 2015
Loans and Leases Receivable Disclosure [Abstract]  
Loans with Government Guarantees
Loans with Government Guarantees
    
Substantially all of loans with government guarantees continue to be insured or guaranteed by the FHA. These loans earn interest at a rate based upon the 10-year U.S. Treasury note rate at the time the underlying loan becomes delinquent, which is not paid until claimed.

At June 30, 2015, loans with government guarantees actually repurchased totaled $592 million and were classified as loans with government guarantees. At December 31, 2014, loans with government guarantees actually repurchased totaled $1.1 billion and were classified as loans with government guarantees.

The Company adopted ASU Update No. 2014-14, Receivables - Troubled Debt Restructuring by Creditors (Subtopic 310-40) in the first quarter 2015 at which time repossessed assets and the associated claims were recorded separately from the associated loans. At June 30, 2015, repossessed assets and the associated claims recorded in other assets totaled $267 million and at December 31, 2014 repossessed assets and the associated claims were $373 million included in loans with government guarantees.