OTHER ASSETS (Tables)

9 Months Ended

Sep. 30, 2014

Transfers and Servicing [Abstract]

Schedule of Other Assets

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

	September 30, 2014		December 31, 2013
	(in thousands)
Income tax receivables	$	534,125	$	419,832
Derivative assets at fair value	273,089		222,491
Other repossessed assets	140,197		3,073
MSRs, at fair value	131,791		141,787
Prepaid expenses	127,469		141,593
OREO	85,025		88,603
Miscellaneous assets and receivables	574,543		157,115
Total other assets	$	1,866,239	$	1,174,494

Schedule of Servicing Assets at Fair Value

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

	Nine-Month Period Ended September 30,
	2014			2013
	(in thousands)
Fair value at beginning of period	$	141,787		$	92,512
Mortgage servicing assets recognized	20,081			32,535
Principal reductions	(15,999		)	(17,226		)
Change in fair value due to valuation assumptions	(14,078		)	30,229
Fair value at end of period	$	131,791		$	138,050