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Mortgage Banking Activities (Tables)
 12 Months Ended
Dec. 31, 2013
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale
The unpaid principal balance of residential mortgage loans held for sale, notional amounts of derivative contracts related to residential mortgage loans commitments and forward contract sales and their related fair values included in Mortgage loans held for sale on the Consolidated Balance Sheets were (in thousands):
 
 
December 31, 2013
 
December 31, 2012
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
192,266

 
$
193,584

 
$
269,718

 
$
281,935

Residential mortgage loan commitments
 
258,873

 
2,656

 
356,634

 
12,733

Forward sales contracts
 
435,867

 
4,306

 
598,442

 
(906
)
 
 
 

 
$
200,546

 
 

 
$
293,762
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 
 
Year Ended
 
 
2013
 
2012
 
2011
Originating and marketing revenue:
 
 
 
 
 
 
Residential mortgage loans held for sale
 
$
84,403

 
$
120,599

 
$
57,418

Residential mortgage loan commitments
 
(10,070
)
 
6,136

 
4,345

Forward sales contracts
 
5,212

 
2,382

 
(9,781
)
Total originating and marketing revenue
 
79,545

 
129,117

 
51,982

Servicing revenue
 
42,389

 
40,185

 
39,661

Total mortgage banking revenue
 
$
121,934

 
$
169,302

 
$
91,643
Summary of Mortgage Servicing Rights
 
 
December 31,
 
 
2013
 
2012
 
2011
Number of residential mortgage loans serviced for others
 
106,137

 
98,246

 
95,841

Outstanding principal balance of residential mortgage loans serviced for others
 
$
13,718,942

 
$
11,981,624

 
$
11,300,986

Weighted average interest rate
 
4.40
%
 
4.71
%
 
5.19
%
Remaining term (in months)
 
292

 
289

 
290
Activity in Capitalized Mortgage Servicing Rights

Activity in capitalized mortgage servicing rights during the three years ended December 31, 2013 is as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, December 31, 2010
 
$
37,900

 
$
77,823

 
$
115,723

Additions, net
 
—

 
26,251

 
26,251

Change in fair value due to loan runoff
 
(4,699
)
 
(10,045
)
 
(14,744
)
Change in fair value due to market changes
 
(14,298
)
 
(26,149
)
 
(40,447
)
Balance, December 31, 2011
 
$
18,903

 
$
67,880

 
$
86,783

Additions, net
 
—

 
42,191

 
42,191

Change in fair value due to loan runoff
 
(4,164
)
 
(14,788
)
 
(18,952
)
Change in fair value due to market changes
 
(1,763
)
 
(7,447
)
 
(9,210
)
Balance, December 31, 2012
 
$
12,976

 
$
87,836

 
$
100,812

Additions, net
 
—

 
49,431

 
49,431

Change in fair value due to loan runoff
 
(3,029
)
 
(16,601
)
 
(19,630
)
Change in fair value due to market changes
 
5,988

 
16,732

 
22,720

Balance, December 31, 2013
 
$
15,935

 
$
137,398

 
$
153,333
Assumptions to Value Mortgage Servicing Rights [Table Text Block]

There is no active market for trading in mortgage servicing rights after origination. Fair value is determined by discounting the projected net cash flows. Significant assumptions used to determine fair value considered to be significant unobservable inputs were as follows:

 
 
December 31,
 
 
2013
 
2012
Discount rate – risk-free rate plus a market premium
 
10.21%
 
10.29%
Prepayment rate – based upon loan interest rate, original term and loan type
 
6.66% - 26.19%
 
8.38% - 43.94%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
Performing loans
 
$60 - $105
 
$55 - $105
Delinquent loans
 
$150 - $500
 
$135 - $500
Loans in foreclosure
 
$1,000 - $4,250
 
$875 - $4,250
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.80%
 
0.87%
Stratification of Loan Servicing Portfolio
Stratification of the residential mortgage loan servicing portfolio and outstanding principal of loans serviced for others by interest rate at December 31, 2013 follows (in thousands):
 
 
< 4.00%
 
4.00% - 4.99%
 
5.00% - 5.99%
 
> 5.99%
 
Total
Fair value
 
$
62,962

 
$
55,721

 
$
27,446

 
$
7,204

 
$
153,333

Outstanding principal of loans serviced for others
 
$
5,454,084

 
$
4,711,703

 
$
2,350,924

 
$
1,202,231

 
$
13,718,942

Weighted average prepayment rate1
 
6.66
%
 
7.85
%
 
9.93
%
 
26.19
%
 
9.34
%
1 
Annual prepayment estimates based upon loan interest rate, original term and loan type. Weighted average prepayment rate is determined by weighting the prepayment speed for each loan by its unpaid principal balance.
Aging Status of Mortgage Loans Serviced For Others
The aging status of our mortgage loans serviced for others by investor at December 31, 2013 follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days or More
 
Total
FHLMC
 
$
4,557,381

 
$
42,359

 
$
10,926

 
$
36,890

 
$
4,647,556

FNMA
 
4,111,774

 
26,284

 
7,828

 
20,658

 
4,166,544

GNMA
 
4,475,016

 
149,707

 
43,702

 
18,113

 
4,686,538

Other
 
211,308

 
1,871

 
547

 
4,578

 
218,304

Total
 
$
13,355,479

 
$
220,221

 
$
63,003

 
$
80,239

 
$
13,718,942
Activity in Accrual for Losses On Loans Sold With Recourse
The activity in the accrual for losses on loans sold with recourse included in Other liabilities in the Consolidated Balance Sheets is summarized as follows (in thousands):
 
Year Ended
 
2013
 
2012
 
2011
Beginning balance
$
11,359

 
$
18,683

 
$
16,667

Provision for recourse losses
565

 
(1,891
)
 
8,611

Loans charged off, net
(2,883
)
 
(5,433
)
 
(6,595
)
Ending balance
$
9,041

 
$
11,359

 
$
18,683
Residential Mortgage Loans Subject to Repurchase Under Standard Representation and Warranties [Table Text Block]
A summary of unresolved deficiency requests from the agencies and related accrual for credit losses follows (Dollars in thousands):
 
December 31,
 
2013
 
2012
Number of unresolved deficiency requests
578

 
389

Aggregate outstanding principal balance subject to unresolved deficiency requests
$
69,288

 
$
44,831

Unpaid principal balance subject to indemnification by the Company
3,200

 
1,233

Accrual for credit losses related to potential loan repurchases under representations and warranties
8,845

 
5,291