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NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (VIEs) AND SERVICING ASSETS (Tables)
 9 Months Ended
Sep. 30, 2023
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (VIEs) AND SERVICING ASSETS [Abstract]  
Changes in Servicing Assets [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30,
 
Nine-Month Period Ended September 30,
 
2023
2022
2023
2022
(In thousands)
Balance at beginning of period
$
28,034
$
30,277
$
29,037
$
30,986
Capitalization of servicing assets
601
679
1,839
2,637
Amortization
(1,035)
(1,247)
(3,265)
(3,850)
Temporary impairment
 
recoveries
7
1
12
65
Other
(1)
(6)
(20)
(22)
(148)
Balance at end of period
$
27,601
$
29,690
$
27,601
$
29,690
(1)
Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Changes in Impairment Allowance [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30,
 
Nine-Month Period Ended September 30,
 
2023
2022
2023
2022
(In thousands)
Balance at beginning of period
$
7
$
14
$
12
$
78
Temporary impairment
 
recoveries
(7)
(1)
(12)
(65)
 
Balance at end of period
$
-
$
13
$
-
$
13
Components of Net Servicing Income [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30,
 
Nine-Month Period Ended September 30,
 
2023
2022
2023
2022
(In thousands)
Servicing fees
$
2,606
$
2,758
$
7,984
$
8,398
Late charges and prepayment penalties
137
201
547
614
Other
(1)
(6)
(20)
(22)
(148)
 
Servicing income, gross
2,737
2,939
8,509
8,864
Amortization and impairment of servicing assets
(1,028)
(1,246)
(3,253)
(3,785)
 
Servicing income, net
$
1,709
$
1,693
$
5,256
$
5,079
(1) Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average
Maximum
Minimum
Nine-Month Period Ended September 30,
 
2023
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.6
%
11.6
%
4.8
%
 
Conventional conforming mortgage loans
7.4
%
16.0
%
3.8
%
 
Conventional non-conforming mortgage loans
5.9
%
9.0
%
2.1
%
Discount rate:
 
Government-guaranteed mortgage loans
11.5
%
11.5
%
11.5
%
 
Conventional conforming mortgage loans
9.5
%
9.5
%
9.5
%
 
Conventional non-conforming mortgage loans
13.0
%
14.0
%
11.5
%
Nine-Month Period Ended September 30,
 
2022
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.6
%
18.3
%
4.8
%
 
Conventional conforming mortgage loans
6.6
%
18.4
%
3.4
%
 
Conventional non-conforming mortgage loans
6.0
%
21.9
%
3.8
%
Discount rate:
 
Government-guaranteed mortgage loans
11.8
%
12.0
%
11.5
%
 
Conventional conforming mortgage loans
9.8
%
10.0
%
9.5
%
 
Conventional non-conforming mortgage loans
12.4
%
14.5
%
11.5
%
Weighted-Averages of Key Economic Assumptions in Valuation Model [Table Text Block]
The weighted
 
averages of the
 
key economic
 
assumptions that the
 
Corporation used
 
in its valuation
 
model and the
 
sensitivity of the
current fair value
 
to immediate
10
% and
20
% adverse changes in
 
those assumptions for mortgage
 
loans as of September
 
30, 2023 and
December 31, 2022 were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
December 31,
2023
2022
(In thousands)
Carrying amount of servicing assets
$
27,601
$
29,037
Fair value
$
45,114
$
44,710
Weighted-average
 
expected life (in years)
7.75
7.80
Constant prepayment rate (weighted-average annual
 
rate)
6.31
%
6.40
%
 
Decrease in fair value due to 10% adverse change
$
1,036
$
1,048
 
Decrease in fair value due to 20% adverse change
$
2,027
$
2,054
Discount rate (weighted-average annual rate)
10.72
%
10.69
%
 
Decrease in fair value due to 10% adverse change
$
1,937
$
1,925
 
Decrease in fair value due to 20% adverse change
$
3,727
$
3,704