ALLOWANCE FOR LOAN LOSSES

As discussed in Note 1, the Company estimates for currently existing and probable losses for its mortgage loans that are considered impaired. A loan can be considered impaired even if it is not delinquent. The following table summarizes the aggregate activity for the portion of the allowance for loan losses that relates to the securitized mortgage loan portfolio for the periods indicated:



	For the Year Ended
	December 31,
	2012						2011						2010
	Commercial			Single-family			Commercial			Single-family			Commercial			Single-family
Allowance at beginning of period	$	2,268		$	231		$	4,200		$	270		$	3,935		$	277
Provision for loan losses	24			168			848			23			1,194			—
Credit losses, net of recoveries	(2,142		)	(110		)	(2,780		)	(62		)	(929		)	(7		)
Allowance at end of period	$	150		$	289		$	2,268		$	231		$	4,200		$	270

The following table summarizes information regarding the Company's impaired securitized commercial and single-family mortgage loans as of December 31, 2012 and December 31, 2011:



	December 31, 2012				December 31, 2011
	Commercial		Single-family		Commercial		Single-family
Unpaid principal balance of impaired securitized loans	$	—	$	3,380	$	4,724	$	3,000
Basis adjustments related to impaired securitized loans	—		50		8		48
Amortized cost basis of impaired securitized loans	$	—	$	3,430	$	4,732	$	3,048

For the securitized single-family mortgage loans identified as impaired as of December 31, 2012, the Company estimates that it has recognized approximately $179 of interest income for the year ended December 31, 2012 compared to $162 and $205 for the years ended December 31, 2011 and December 31, 2010, respectively. Although the Company did not have any specific securitized commercial mortgage loans identified as impaired as of December 31, 2012, it is currently maintaining a general allowance for commercial mortgage loan losses of $150. The Company estimates that it recognized interest income of $109 and $609 for the years ended December 31, 2011 and December 31, 2010, respectively, on commercial securitized mortgage loans identified as impaired as of December 31, 2011 and December 31, 2010, respectively.