I am asking about loans?

In the late 1970s, many banks, but particularly S&Ls, were experiencing an outflow of low-rate deposits, as interest rates were driven up by Federal Reserve actions to restrict the money supply, a move Paul Volcker instituted to wring inflation out of the economy, and as depositors moved their money to the new high-interest money-market funds. At the same time, the institutions had much of their money tied up in long-term mortgages that were written at regulated interest rates, and with market rates rising, were worth far less than face value. That is, in order to sell a 5% mortgage to pay requests from depositors for their funds in a market asking 10%, a savings and loan would have to discount their asking price. This meant that the value of these loans, the institution's assets, were worth less than the deposits used to make them and the savings and loan's net worth was being eroded.