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Mortgage Banking Activities (Tables)
 3 Months Ended
Mar. 31, 2015
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
March 31, 2015
 
Dec. 31, 2014
 
March 31, 2014
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid
Principal
 Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
491,762

 
$
501,888

 
$
291,537

 
$
298,212

 
$
215,959

 
$
220,074

Residential mortgage loan commitments
 
650,988

 
17,500

 
520,829

 
9,971

 
387,755

 
6,035

Forward sales contracts
 
1,200,769

 
(6,192
)
 
701,066

 
(4,001
)
 
571,458

 
403

 
 
 

 
$
513,196

 
 

 
$
304,182

 
 

 
$
226,512
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
March 31,
 
 
2015
 
2014
Production revenue:
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
17,251

 
$
9,179

Net change in unrealized gain on mortgage loans held for sale
 
3,451

 
2,797

Change in the fair value of mortgage loan commitments
 
7,529

 
3,379

Change in the fair value of forward sales contracts
 
(2,191
)
 
(3,903
)
Total production revenue
 
26,040

 
11,452

Servicing revenue
 
13,280

 
11,392

Total mortgage banking revenue
 
$
39,320

 
$
22,844
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (Dollars in thousands):
 
 
March 31,
2015
 
Dec. 31,
2014
 
March 31,
2014
Number of residential mortgage loans serviced for others
 
120,653

 
117,483

 
107,660

Outstanding principal balance of residential mortgage loans serviced for others
 
$
16,937,128

 
$
16,162,887

 
$
14,045,642

Weighted average interest rate
 
4.24
%
 
4.29
%
 
4.38
%
Remaining term (in months)
 
297

 
296

 
292
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
Activity in capitalized mortgage servicing rights during the three months ended March 31, 2015 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, Dec. 31, 2014
 
$
11,114

 
$
160,862

 
$
171,976

Additions, net
 
—

 
19,150

 
19,150

Change in fair value due to loan runoff
 
(781
)
 
(6,772
)
 
(7,553
)
Change in fair value due to market changes
 
(740
)
 
(7,782
)
 
(8,522
)
Balance, March 31, 2015
 
$
9,593

 
$
165,458

 
$
175,051

 
Activity in capitalized mortgage servicing rights during the three months ended March 31, 2014 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, Dec. 31, 2013
 
$
15,935

 
$
137,398

 
$
153,333

Additions, net
 
—

 
8,644

 
8,644

Change in fair value due to loan runoff
 
(515
)
 
(3,227
)
 
(3,742
)
Change in fair value due to market changes
 
(630
)
 
(3,831
)
 
(4,461
)
Balance, March 31, 2014
 
$
14,790

 
$
138,984

 
$
153,774

 
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 based on significant unobservable inputs were as follows:

 
 
March 31,
2015
 
Dec. 31,
2014
 
March 31,
2014
Discount rate – risk-free rate plus a market premium
 
10.15%
 
10.17%
 
10.21%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
 
 
    Performing loans
 
$60-$105
 
$60 - $105
 
$60 - $105
    Delinquent loans
 
$150 - $500
 
$150 - $500
 
$150 - $500
    Loans in foreclosure
 
$1,000 - $4,250
 
$1,000 - $4,250
 
$1000 - $4,250
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.54%
 
1.77%
 
1.81%
Stratification of Loan Servicing Portfolio [Table Text Block]
Stratification of the residential mortgage loan servicing portfolio and outstanding principal of loans serviced for others by interest rate at March 31, 2015 follows (in thousands):
 
 
< 4.00%
 
4.00% - 4.99%

 
5.00% - 5.99%

 
> 5.99%
 
Total
Fair value
 
$
76,549

 
$
77,787

 
$
16,586

 
$
4,129

 
$
175,051

Outstanding principal of loans serviced for others
 
$
7,280,513

 
$
6,864,077

 
$
1,881,950

 
$
910,588

 
$
16,937,128

Weighted average prepayment rate1
 
7.90
%
 
8.85
%
 
16.40
%
 
32.16
%
 
10.53
%
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 [Table Text Block]
The aging status of our mortgage loans serviced for others by investor at March 31, 2015 follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days or More
 
Total
FHLMC
 
$
5,537,828

 
$
32,319

 
$
6,789

 
$
30,562

 
$
5,607,498

FNMA
 
5,451,497

 
22,071

 
4,039

 
21,575

 
5,499,182

GNMA
 
5,054,047

 
91,424

 
25,581

 
10,998

 
5,182,050

Other
 
636,548

 
6,021

 
1,435

 
4,394

 
648,398

Total
 
$
16,679,920

 
$
151,835

 
$
37,844

 
$
67,529

 
$
16,937,128
Activity in Allowance for Losses On Loans Sold With Recourse [Table Text Block]
 
Three Months Ended
March 31,
 
2015
 
2014
Beginning balance
$
7,299

 
$
9,562

Provision for recourse losses
170

 
(16
)
Loans charged off, net
(448
)
 
(480
)
Ending balance
$
7,021

 
$
9,066
Summary of Unresolved Deficiency Requests and Related Accrual for Credit Losses [Table Text Block]
A summary of unresolved deficiency requests from the agencies follows (in thousands, except for number of unresolved deficiency requests):
 
March 31,
2015
 
March 31,
2014
Number of unresolved deficiency requests
213

 
647

Aggregate outstanding principal balance subject to unresolved deficiency requests
$
17,979

 
$
81,909

Unpaid principal balance subject to indemnification by the Company
4,212

 
1,561



The activity in the accruals for mortgage losses is summarized as follows (in thousands).
 
Three Months Ended
March 31,
 
2015
 
2014
Beginning balance
$
11,868

 
$
12,716

Provision for losses
(788
)
 
203

Charge-offs, net
60

 
(1,299
)
Ending balance
$
11,140


$
11,620
Activity in Accruals for Mortgage Losses [Table Text Block]
The activity in the accruals for mortgage losses is summarized as follows (in thousands).
 
Three Months Ended
March 31,
 
2015
 
2014
Beginning balance
$
11,868

 
$
12,716

Provision for losses
(788
)
 
203

Charge-offs, net
60

 
(1,299
)
Ending balance
$
11,140


$
11,620