OTHER ASSETS (Tables)

6 Months Ended

Jun. 30, 2014

Transfers and Servicing [Abstract]

Schedule of Other Assets

The following is a detail of items that comprise other assets at June 30, 2014 and December 31, 2013:

	June 30, 2014		December 31, 2013
	(in thousands)
Income tax receivables	$	421,887	$	419,832
Derivative assets at fair value	251,741		222,491
Other repossessed assets	142,730		3,073
Prepaid expenses	128,580		141,593
MSRs, at fair value	124,118		141,787
OREO	85,458		88,603
Miscellaneous assets and receivables	313,466		157,115
Total other assets	$	1,467,980	$	1,174,494

Schedule of Servicing Assets at Fair Value

The following table presents a summary of activity for the Company’s residential MSRs.

	Six-Month Period Ended June 30,
	2014			2013
	(in thousands)
Carrying value at beginning of period	$	141,787		$	92,512
Mortgage servicing assets recognized	4,003			24,046
Principal reductions	(10,320		)	(11,783		)
Change in fair value due to valuation assumptions	(11,352		)	33,366
Carrying value at end of period	$	124,118		$	138,141