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Federal Home Loan Bank Stock
12 Months Ended
Dec. 31, 2019
Federal Home Loan Bank Stock [Abstract]  
Federal Home Loan Bank Stock Federal Home Loan Bank Stock

Our investment in FHLB stock was $303 million at both December 31, 2019 and December 31, 2018. As a member of the FHLB, we are required to hold shares of FHLB stock in an amount equal to at least one percent of the aggregate UPB of our mortgage loans, home purchase contracts and similar obligations at the beginning of each year or 4.5 percent of our total FHLB advances, whichever is greater. We had no required purchases or redemptions of FHLB stock during the years ended December 31, 2019 and 2018. Dividends received on the stock equaled $16 million, $15 million and $9 million for the years ended December 31, 2019, 2018 and 2017, respectively. These dividends were recorded in the Consolidated Statements of Operations as other noninterest income.