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Transfers of financial assets and mortgage servicing assets (Tables)
12 Months Ended
Dec. 31, 2020
Transfers and Servicing of Financial Assets  
Schedule Of Securitizations Of Financial Assets Accounted For As Sale [Text Block]

 

 

Proceeds Obtained During the Year Ended December 31, 2020

(In thousands)

Level 1

Level 2

Level 3

Initial fair value

Assets

 

 

 

 

 

 

 

 

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

332,207

$

-

$

332,207

Mortgage-backed securities - FNMA

 

-

 

175,864

 

-

 

175,864

Total trading account debt securities

$

-

$

508,071

$

-

$

508,071

Mortgage servicing rights

$

-

$

-

$

7,236

$

7,236

Total

$

-

$

508,071

$

7,236

$

515,307

 

 

Proceeds Obtained During the Year Ended December 31, 2019

(In thousands)

Level 1

Level 2

Level 3

Initial fair value

Assets

 

 

 

 

 

 

 

 

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

347,396

$

-

$

347,396

Mortgage-backed securities - FNMA

 

-

 

111,362

 

-

 

111,362

Total trading account debt securities

$

-

$

458,758

$

-

$

458,758

Mortgage servicing rights

$

-

$

-

$

8,185

$

8,185

Total

$

-

$

458,758

$

8,185

$

466,943

Schedule Of Servicing Assets At Fair Value Text Block

Residential MSRs

(In thousands)

December 31, 2020

December 31, 2019

Fair value at beginning of period

$

150,906

$

169,777

Additions

 

9,544

 

9,143

Changes due to payments on loans[1]

 

(11,692)

 

(11,549)

Reduction due to loan repurchases

 

(11,060)

 

(1,777)

Changes in fair value due to changes in valuation model inputs or assumptions

 

(19,327)

 

(14,190)

Other disposals

 

24

 

(498)

Fair value at end of period

$

118,395

$

150,906

[1]

Represents changes due to collection / realization of expected cash flows over time.

Schedule Of Assumptions For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Servicing Liabilities Text Block

 

Years ended

 

December 31, 2020

 

December 31, 2019

 

BPPR

PB

 

BPPR

PB

Prepayment speed

7.6

%

21.9

%

 

7.0

%

-

%

Weighted average life (in years)

8.7

 

3.6

 

 

9.5

 

-

 

Discount rate (annual rate)

10.9

%

10.5

%

 

10.9

%

-

%

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

 

 

Originated MSRs

Purchased MSRs

 

 

December 31,

December 31,

December 31,

December 31,

(In thousands)

2020

2019

2020

2019

Fair value of servicing rights

$

44,129

 

$

58,842

 

$

74,266

 

$

92,064

 

Weighted average life (in years)

 

6.2

 

 

6.7

 

 

5.9

 

 

6.3

 

Weighted average prepayment speed (annual rate)

 

6.6

%

 

5.7

%

 

7.1

%

 

6.2

%

 

Impact on fair value of 10% adverse change

$

(1,115)

 

$

(1,303)

 

$

(2,206)

 

$

(2,306)

 

 

Impact on fair value of 20% adverse change

$

(2,194)

 

$

(2,568)

 

$

(4,312)

 

$

(4,525)

 

Weighted average discount rate (annual rate)

 

11.3

%

 

11.4

%

 

11.1

%

 

11.0

%

 

Impact on fair value of 10% adverse change

$

(1,640)

 

$

(2,381)

 

$

(2,740)

 

$

(3,603)

 

 

Impact on fair value of 20% adverse change

$

(3,175)

 

$

(4,596)

 

$

(5,301)

 

$

(6,959)