Valley|NNP Federal|NNP Savings|NNP &|CC Loan|NNP Association|NNP took|VBD an|DT $89.9|NN million|CD charge|NN as|IN it|PRP reported|VBD a|DT third|JJ -|- quarter|NN loss|NN of|IN $70.7|NN million|CD ,|, or|CC $12.09|NN a|DT share|NN .|. 

The|DT Van|NNP Nuys|NNP ,|, Calif|NNP .|. ,|, thrift|NN had|VBD net|JJ income|NN of|IN $132,000|NN ,|, or|CC three|CD cents|NNS a|DT share|NN ,|, a|DT year|NN ago|RB .|. 

The|DT bulk|NN of|IN the|DT pretax|JJ charge|NN is|VBZ a|DT $62|NN million|CD write|VB -|- off|RP of|IN capitalized|VBN servicing|NN at|IN the|DT mobile|JJ home|NN financing|NN subsidiary|NN ,|, which|WDT the|DT company|NN said|VBD had|VBD been|VBN a|DT big|JJ drain|NN on|IN earnings|NNS .|. 
The|DT company|NN said|VBD the|DT one|JJ -|- time|NN provision|one-time would|MD substantially|RB eliminate|VB all|DT future|JJ losses|NNS at|IN the|DT unit|NN .|. 
Valley|NNP Federal|NNP also|RB added|VBD $18|NN million|CD to|TO realestate|VB loan|NN reserves|NNS and|CC eliminated|VBN $9.9|NN million|CD of|IN good|JJ will|NN .|. 

The|DT thrift|NN said|VBD that|IN "|'' after|IN these|DT charges|NNS and|CC assuming|VBG no|DT dramatic|JJ fluctuation|NN in|IN interest|NN rates|NNS ,|, the|DT association|NN expects|VBZ to|TO achieve|VB near|IN record|NN earnings|NNS in|IN 1990|CD .|. "|'' 

Valley|NNP Federal|NNP is|VBZ currently|RB being|VBG examined|VBN by|IN regulators|NNS .|. 
New|JJ loans|NNS continue|VBP to|TO slow|VB ;|: they|PRP were|VBD $6.6|NN million|CD in|IN the|DT quarter|NN compared|VBN with|IN $361.8|NN million|CD a|DT year|NN ago|RB .|. 
The|DT thrift|NN has|VBZ assets|NNS of|IN $3.2|NN billion|CD .|. 

