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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Notional or Contractual Amounts and Fair Values of Derivative Instruments
The following table provides the total notional or contractual amounts and related fair values of derivative assets and liabilities not designated as hedging instruments as well as cash collateral (in thousands):

 

     June 30, 2013      December 31, 2012  
            Fair Value             Fair Value  
     Notional
Amount
     Derivative
Assets
     Derivative
Liabilities
     Notional
Amount
     Derivative
Assets
     Derivative
Liabilities
 

Derivatives not designated as hedging instruments

                 

Interest rate lock commitments

   $ 4,190,048       $ 61,680       $ 19,327       $ 35,266       $ 949       $ —     

Forward sales commitments

     7,326,249         163,199         10,113         42,078         —           1,102   

Loan purchase commitments

     2,172,000         4,504         29,166         —           —           —     
     

 

 

    

 

 

       

 

 

    

 

 

 

Total

      $ 229,383       $ 58,606          $ 949       $ 1,102   
     

 

 

    

 

 

       

 

 

    

 

 

 

Cash collateral

      $ 31       $ 124,759          $ —         $ —     
     

 

 

    

 

 

       

 

 

    

 

 

 
Schedule of Net Gains (Losses) Related to Derivatives Not Designated as Hedging Instruments

The following table summarizes the net gains related to derivatives not designated as hedging instruments recognized for the periods indicated (in thousands). These gains are recorded as a component of net gains on sales of loans in the consolidated statements of comprehensive income.

 

     For the Three Months
Ended June 30, 2013
    For the Six Months
Ended June 30, 2013
 

Gains (losses) on interest rate lock commitments

   $ (17,217   $ 41,404   

Gains on forward sales commitments

     183,625        179,688   

Losses on loan purchase commitments

     (24,662     (24,662
  

 

 

   

 

 

 

Total

   $ 141,746      $ 196,430