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Certain Transfers of Financial Assets (Tables)
 3 Months Ended
Mar. 31, 2020
Transfers and Servicing [Abstract]  
Schedule of Loans Held-for-sale [Table Text Block]
The table below presents a reconciliation of the changes in loans held for sale:
 
 
Three Months Ended March 31,
(in thousands)
 
2020
 
2019
Outstanding balance(1):
 
 
 
 
Beginning balance
 
$
2,568,362

 
$
1,949,785

Loans purchased and originated
 
2,356,710

 
1,550,059

Payments and loans sold
 
(4,165,492
)
 
(1,617,518
)
Ending balance
 
759,580

 
1,882,326

Fair value adjustment:
 

 
 
Beginning balance
 
8,772

 
19,689

Increase/(decrease) to fair value
 
5,712

 
(378
)
Ending balance
 
14,484

 
19,311

Loans held for sale at fair value
 
$
774,064

 
$
1,901,637


(1)
Includes $5.8 million of loans held for sale that are carried at lower of cost or market as of December 31, 2019, as well as $299,000 as of December 31, 2018. There were no loans held for sale carried at lower of cost or market as of March 31, 2020 or March 31, 2019.
Schedule of Mortgage Servicing Rights Activity [Table Text Block] retain the right to service the loans sold through our MCA program, creating mortgage servicing rights ("MSRs") which are recorded as assets on our balance sheet. A summary of MSR activity is as follows:
 
Three months ended March 31,
(in thousands)
2020
 
2019
MSRs:
 
 
 
Balance, beginning of year
$
70,707

 
$
42,474

Capitalized servicing rights
20,615

 
6,138

Amortization
(4,885
)
 
(1,593
)
Sales
—

 
—

Balance, end of period
$
86,437

 
$
47,019

Valuation allowance:
 
 
 
Balance, beginning of year
$
5,803

 
$
—

Increase in valuation allowance
10,015

 
2,931

Balance, end of period
$
15,818

 
$
2,931

MSRs, net
$
70,619

 
$
44,088

MSRs, fair value
$
70,619

 
$
44,691
Schedule of Fair Value Assumption Used to Value Mortgage Servicing Rights Retained [Table Text Block] The following summarizes the assumptions used by management to determine the fair value of MSRs:
 
March 31, 2020
 
December 31, 2019
Average discount rates
9.08
%
 
9.06
%
Expected prepayment speeds
14.51
%
 
13.11
%
Weighted-average life, in years
5.4

 
5.8
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]
A sensitivity analysis of changes in the fair value of our MSR portfolio resulting from certain key assumptions is presented in the following table:
(in thousands)
March 31, 2020
 
December 31, 2019
50 bp adverse change in prepayment speed
$
(8,338
)
 
$
(10,768
)
100 bp adverse change in prepayment speed
(10,091
)
 
(17,965
)