Loans Held for Sale

3 Months Ended

Mar. 31, 2016

Receivables Held-for-sale [Abstract]

LOANS HELD FOR SALE

The composition of loans held for sale as of March 31, 2016 and December 31, 2015 was as follows:



	March 31, 2016		December 31, 2015
(amounts in thousands)
Commercial loans:
Mortgage warehouse loans at fair value	$	1,940,558	$	1,754,950
Multi-family loans at lower of cost or fair value	27,678		39,257
Commercial loans held for sale	1,968,236		1,794,207
Consumer loans:
Residential mortgage loans at fair value	1,044		2,857
Loans held for sale	$	1,969,280	$	1,797,064

Effective September 30, 2015, Customers Bank transferred $30.4 million of multi-family loans from held for sale to loans receivable (held for investment) because the Bank no longer has the intent to sell these loans. Customers Bank transferred these loans at their carrying value, which was lower than the estimated fair value at the time of transfer.