Io

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(Greek mythology) a maiden seduced by Zeus

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The fair values of the servicing asset and the interest-only strip receivable are $40 and $60, respectively.
These non-GAAP measures include the Bank's (i) tangible common equity ratio, (ii) net income and diluted earnings per share excluding the after-tax effect of gains from the sales of SBA interest-only strip securities and (iii) core net interest margin excluding loan prepayment penalty income.
Unlike other bonds, the price of an interest-only strip has a positive correlation to interest rates.
These factors were partially offset by a decrease in non-interest income primarily from the 2011 gain on sale of an SBA interest-only strip security and an increase in non-interest expense.
The change resulted in a reduction of the aggregate value of PacificAmerica's interest-only strip receivables, also known as excess yield receivables, to $95.
This managed presentation includes income or expense derived from the valuation of the interest-only strip, cash reserve accounts, and cash accounts associated with our securitized loans that would generally be reversed or not reported in a managed presentation in the other component.
Excluding the settlement proceeds, other income increased $82 million from the prior year, primarily due to the revaluation of the interest-only strip receivable.
Other income increased $261 million, or 43% from the prior year, including $475 million related to the Visa/MasterCard antitrust litigation settlement, partially offset by a $173 million year-over-year decrease related to the valuation of the interest-only strip receivable.
Other income increased $630 million, reflecting the antitrust settlement partially offset by a reduction in the fair value of the interest-only strip receivable.
During 2007, the Company increased its prepayment assumption associated with the calculation of the carrying value of its securities, interest-only strip receivables, and servicing asset balances from 10% to 12% which resulted in a $779,000 impairment loss.
Other income increased, reflecting a favorable revaluation of the interest-only strip receivable, gains related to the sale of merchant contracts, higher loan fee revenue and lower rewards costs related to forfeiture changes in the program.
The increase in other income reflects an increase in the interest-only strip receivable mainly due to gains recognized on $3.
In the third quarter of 2004, there were gains of $882,000 from two sales of interest-only strip securities.
3 million decrease in the change in fair market value associated with the impact of receivable attrition on a higher interest-only strip receivable, an $18.
The company said restatements are due to an error in the GAAP accounting treatment for certain of the company's assets -- specifically, credit risk transfer securities issued by government-sponsored enterprises (GSE CRTs) and interest-only strips of residential mortgage-backed securities that are guaranteed by a US government agency (Agency MBS IOs).