XML 68 R30.htm IDEA: XBRL DOCUMENT

Loans sales and securitizations (Tables)

9 Months Ended

Sep. 30, 2011

Loan Sales and Securitizations [Abstract]

Summarizes activity relating to residential mortgage loans sold with servicing retained

The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2011 and 2010:

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
(dollar amounts in thousands)			2011		2010		2011		2010
Residential mortgage loans sold with servicing retained		$	515,179	$	924,494	$	2,264,697	$	2,463,509
Pretax gains resulting from above loan sales (1)			12,737		21,842		57,982		55,266

(1)	Recorded in other noninterest income.

Summarizes activity relating to residential mortgage loans sold with servicing retained using the fair value method

The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the three-month and nine-month periods ended September 30, 2011 and 2010:

			Three Months Ended				Nine Months Ended
Fair Value Method:			September 30,				September 30,
(dollar amounts in thousands)			2011		2010		2011		2010
Fair value, beginning of period		$	104,997	$	132,405	$	125,679	$	176,426
Change in fair value during the period due to:
	Time decay (1)		(1,222)		(1,088)		(3,987)		(4,295)
	Payoffs (2)		(4,614)		(9,158)		(15,013)		(22,835)
	Changes in valuation inputs or assumptions (3)		(25,337)		(10,004)		(32,855)		(37,141)
Fair value, end of period:		$	73,824	$	112,155	$	73,824	$	112,155

(1)	Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns.
(2)	Represents decrease in value associated with loans that paid off during the period.
(3)	Represents change in value resulting primarily from market-driven changes in interest rates and prepayment spreads.

Summarizes activity relating to residential mortgage loans sold with servicing retained using the amortization method


		Three Months Ended				Nine Months Ended
Amortization Method:		September 30,				September 30,
(dollar amounts in thousands)		2011		2010		2011		2010
Carrying value, beginning of period	$	84,742	$	46,733	$	70,516	$	38,165
New servicing assets created		4,572		7,506		24,549		24,247
Impairment charge		(14,057)		(2,043)		(14,057)		(6,899)
Amortization and other		(3,804)		(2,757)		(9,555)		(6,074)
Carrying value, end of period	$	71,453	$	49,439	$	71,453	$	49,439
Fair value, end of period	$	71,467	$	50,832	$	71,467	$	50,832

Summary of key assumptions and the sensitivity of the MSR value to changes in the assumptions

A summary of key assumptions and the sensitivity of the MSR value at September 30, 2011, to changes in these assumptions follows:

				Decline in fair value due to
				10%		20%
				adverse		adverse
(dollar amounts in thousands)	Actual			change		change
Constant prepayment rate	18.64	%	$	(4,729)	$	(9,388)
Spread over forward interest rate swap rates	658	bps		(1,741)		(3,482)

Summarizes changes in carrying value of automobile loan servicing rights

Changes in the carrying value of automobile loan servicing rights for the three-month periods ended September 30, 2011, and 2010, and the fair value at the end of each period were as follows:

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
(dollar amounts in thousands)			2011		2010		2011		2010
Carrying value, beginning of period		$	49	$	373	$	97	$	12,912
New servicing assets created			16,039		---		16,039		---
Amortization and other (1)			(743)		(228)		(791)		(12,767)
Carrying value, end of period		$	15,345	$	145	$	15,345	$	145

Fair value, end of period		$	16,039	$	387	$	16,039	$	387

(1)	The nine months ended September 30, 2010, included a $12.4 million reduction related to the consolidation of a VIE in the 2010 first quarter.

- Definition

Tabular disclosure of the activity in the balance of servicing assets subsequently measured at amortized value (including a description of where changes in carrying value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (through purchases of servicing assets and servicing assets that result from transfers of financial assets), disposals, amortization, application of valuation allowances, other-than-temporary impairments, and other changes that affect the balance along with a description of those changes.

+ References+ Details

- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References+ Details