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NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (VIEs) AND SERVICING ASSETS (Tables)
 12 Months Ended
Dec. 31, 2023
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES (VIEs) AND SERVICING ASSETS [Abstract]  
Changes in Servicing Assets [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Ended December 31,
 
2023
2022
2021
(In thousands)
Balance at beginning of year
$
29,037
$
30,986
$
33,071
Capitalization of servicing assets
2,240
3,122
5,194
Amortization
(4,322)
(4,978)
(7,215)
Temporary impairment
 
recoveries
12
66
124
Other
(1)
(26)
(159)
(188)
Balance at end of year
$
26,941
$
29,037
$
30,986
(1)
Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Changes in Impairment Allowance [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Ended December 31,
2023
2022
2021
(In thousands)
Balance at beginning of year
$
12
$
78
$
202
Temporary impairment
 
recoveries
(12)
(66)
(124)
 
Balance at end of year
$
-
$
12
$
78
Components of Net Servicing Income [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
Ended December 31,
2023
2022
2021
(In thousands)
Servicing fees
$
10,595
$
11,096
$
12,176
Late charges and prepayment penalties
708
823
697
Other
(1)
(26)
(159)
(189)
 
Servicing income, gross
11,277
11,760
12,684
Amortization and impairment of servicing assets
(4,310)
(4,912)
(7,091)
 
Servicing income, net
$
6,967
$
6,848
$
5,593
(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]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Corporation’s
 
MSRs are subject
 
to prepayment and
 
interest rate risks.
 
Key economic assumptions
 
used in determining
 
the fair
value at the time of sale of the related mortgages for the indicated periods
 
ranged as follows:
Weighted Average
Maximum
Minimum
Year Ended
 
December 31, 2023
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.6
%
18.0
%
3.8
%
 
Conventional conforming mortgage loans
7.3
%
16.9
%
2.4
%
 
Conventional non-conforming mortgage loans
6.0
%
9.0
%
2.1
%
Discount rate:
 
Government-guaranteed mortgage loans
11.5
%
11.5
%
11.5
%
 
Conventional conforming mortgage loans
9.5
%
10.0
%
9.5
%
 
Conventional non-conforming mortgage loans
12.6
%
14.0
%
11.0
%
Year Ended
 
December 31, 2022
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
18.3
%
4.8
%
 
Conventional conforming mortgage loans
7.4
%
18.4
%
3.4
%
 
Conventional non-conforming mortgage loans
6.0
%
21.9
%
3.6
%
Discount rate:
 
Government-guaranteed mortgage loans
11.7
%
12.0
%
11.5
%
 
Conventional conforming mortgage loans
9.7
%
10.0
%
9.5
%
 
Conventional non-conforming mortgage loans
12.5
%
14.5
%
11.5
%
Year Ended
 
December 31, 2021
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.2
%
17.1
%
3.7
%
 
Conventional conforming mortgage loans
6.2
%
18.2
%
2.8
%
 
Conventional non-conforming mortgage loans
6.4
%
14.5
%
4.4
%
Discount rate:
 
Government-guaranteed mortgage loans
12.0
%
12.0
%
12.0
%
 
Conventional conforming mortgage loans
10.0
%
10.0
%
10.0
%
 
Conventional non-conforming mortgage loans
12.8
%
14.5
%
12.0
%
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
 
were
 
as
 
follows
 
as
 
of
 
the
indicated dates:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31,
 
December 31,
2023
2022
(In thousands)
Carrying amount of servicing assets
$
26,941
$
29,037
Fair value
$
45,244
$
44,710
Weighted-average
 
expected life (in years)
7.79
7.80
Constant prepayment rate (weighted-average annual
 
rate)
6.27
%
6.40
%
 
Decrease in fair value due to 10% adverse change
$
886
$
1,048
 
Decrease in fair value due to 20% adverse change
$
1,731
$
2,054
Discount rate (weighted-average annual rate)
10.68
%
10.69
%
 
Decrease in fair value due to 10% adverse change
$
1,927
$
1,925
 
Decrease in fair value due to 20% adverse change
$
3,712
$
3,704