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Loans Held-for-Sale
12 Months Ended
Dec. 31, 2013
Loans Held-for-Sale  
Loans Held-for-Sale

(4)            Loans Held-for-Sale

 

Non-performing loans held-for-sale, net of valuation allowances, included in loans held-for-sale, net, totaled $791,000 at December 31, 2013 and $3.9 million at December 31, 2012.  Substantially all of the non-performing loans held-for-sale were multi-family mortgage loans at December 31, 2013 and 2012.

 

We sold certain delinquent and non-performing mortgage loans totaling $19.4 million, net of charge-offs of $5.2 million, during the year ended December 31, 2013, primarily multi-family and commercial real estate loans, $22.0 million, net of charge-offs of $11.5 million, during the year ended December 31, 2012, primarily multi-family and commercial real estate loans, and $26.4 million, net of charge-offs of $13.8 million, during the year ended December 31, 2011, primarily multi-family and residential loans.  Net gain on sales of non-performing loans held-for-sale totaled $122,000 for the year ended December 31, 2013 and $1.3 million for the year ended December 31, 2012.  Net loss on sales of non-performing loans held-for-sale totaled $35,000 for the year ended December 31, 2011.

 

We recorded net lower of cost or market write-downs on non-performing loans held-for-sale totaling $87,000 for the year ended December 31, 2013, $272,000 for the year ended December 31, 2012 and $444,000 for the year ended December 31, 2011.