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Mortgage Banking Activities (Tables)
 9 Months Ended
Sep. 30, 2015
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
September 30, 2015
 
Dec. 31, 2014
 
September 30, 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
 
$
336,974

 
$
348,400

 
$
291,537

 
$
298,212

 
$
360,126

 
$
366,183

Residential mortgage loan commitments
 
742,742

 
18,161

 
627,505

 
9,971

 
638,925

 
8,480

Forward sales contracts
 
1,073,343

 
(9,147
)
 
701,066

 
(4,001
)
 
790,131

 
(1,410
)
 
 
 

 
$
357,414

 
 

 
$
304,182

 
 

 
$
373,253
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
Sept. 30,
 
Nine Months Ended
Sept. 30,
 
 
2015
 
2014
 
2015
 
2014
Production revenue:
 
 
 
 
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
18,968

 
$
17,100

 
$
60,075

 
$
39,025

Net change in unrealized gain on mortgage loans held for sale
 
6,666

 
(3,110
)
 
4,751

 
4,739

Net change in the fair value of mortgage loan commitments
 
9,838

 
(5,136
)
 
8,190

 
5,824

Net change in the fair value of forward sales contracts
 
(16,755
)
 
5,839

 
(5,146
)
 
(5,716
)
Total production revenue
 
18,717

 
14,693

 
67,870

 
43,872

Servicing revenue
 
14,453

 
12,121

 
41,466

 
35,116

Total mortgage banking revenue
 
$
33,170

 
$
26,814

 
$
109,336

 
$
78,988
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (Dollars in thousands):
 
 
September 30,
2015
 
Dec. 31,
2014
 
September 30,
2014
Number of residential mortgage loans serviced for others
 
128,828

 
117,483

 
114,493

Outstanding principal balance of residential mortgage loans serviced for others
 
$
18,928,726

 
$
16,162,887

 
$
15,499,653

Weighted average interest rate
 
4.15
%
 
4.29
%
 
4.33
%
Remaining term (in months)
 
300

 
296

 
295
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
Activity in capitalized mortgage servicing rights during the three months ended September 30, 2015 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, June 30, 2015
 
$
10,730

 
$
187,964

 
$
198,694

Additions, net
 
—

 
19,993

 
19,993

Change in fair value due to loan runoff
 
(661
)
 
(6,220
)
 
(6,881
)
Change in fair value due to market changes
 
(656
)
 
(11,101
)
 
(11,757
)
Balance, Sept. 30, 2015
 
$
9,413

 
$
190,636

 
$
200,049


Activity in capitalized mortgage servicing rights during the nine months ended September 30, 2015 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, Dec. 31, 2014
 
$
11,114

 
$
160,862

 
$
171,976

Additions, net
 
—

 
62,375

 
62,375

Change in fair value due to loan runoff
 
(2,171
)
 
(19,862
)
 
(22,033
)
Change in fair value due to market changes
 
470

 
(12,739
)
 
(12,269
)
Balance, Sept. 30, 2015
 
$
9,413

 
$
190,636

 
$
200,049


Activity in capitalized mortgage servicing rights during the three months ended September 30, 2014 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, June 30, 2014
 
$
13,082

 
$
142,658

 
$
155,740

Additions, net
 
—

 
17,367

 
17,367

Change in fair value due to loan runoff
 
(624
)
 
(4,478
)
 
(5,102
)
Change in fair value due to market changes
 
821

 
4,460

 
5,281

Balance, Sept. 30, 2014
 
$
13,279

 
$
160,007

 
$
173,286


Activity in capitalized mortgage servicing rights during the nine months ended September 30, 2014 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, Dec. 31, 2013
 
$
15,935

 
$
137,398

 
$
153,333

Additions, net
 
—

 
39,183

 
39,183

Change in fair value due to loan runoff
 
(1,737
)
 
(11,869
)
 
(13,606
)
Change in fair value due to market changes
 
(919
)
 
(4,705
)
 
(5,624
)
Balance, Sept. 30, 2014
 
$
13,279

 
$
160,007

 
$
173,286
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:

 
 
September 30,
2015
 
Dec. 31,
2014
 
September 30,
2014
Discount rate – risk-free rate plus a market premium
 
10.12%
 
10.17%
 
10.17%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
 
 
    Performing loans
 
$63-$105
 
$60 - $105
 
$60 - $105
    Delinquent loans
 
$150 - $500
 
$150 - $500
 
$150 - $500
    Loans in foreclosure
 
$650 - $4,250
 
$1,000 - $4,250
 
$1000 - $4,250
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.40%
 
1.77%
 
1.95%
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 September 30, 2015 follows (in thousands):
 
 
< 4.00%
 
4.00% - 4.99%

 
5.00% - 5.99%

 
> 5.99%
 
Total
Fair value
 
$
93,382

 
$
86,546

 
$
15,883

 
$
4,238

 
$
200,049

Outstanding principal of loans serviced for others
 
$
8,785,402

 
$
7,652,269

 
$
1,673,815

 
$
817,240

 
$
18,928,726

Weighted average prepayment rate1
 
7.51
%
 
8.74
%
 
13.57
%
 
26.99
%
 
9.39
%
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 September 30, 2015 follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days or More
 
Total
FHLMC
 
$
6,177,382

 
$
36,398

 
$
7,426

 
$
26,517

 
$
6,247,723

FNMA
 
6,428,098

 
32,897

 
7,009

 
19,297

 
6,487,301

GNMA
 
5,483,012

 
145,747

 
38,984

 
15,816

 
5,683,559

Other
 
500,024

 
5,102

 
953

 
4,064

 
510,143

Total
 
$
18,588,516

 
$
220,144

 
$
54,372

 
$
65,694

 
$
18,928,726
Activity in Allowance for Losses On Loans Sold With Recourse [Table Text Block]
 
Three Months Ended
September 30,
 
Nine Months Ended
Sept. 30,
 
2015
 
2014
 
2015
 
2014
Beginning balance
$
6,691

 
$
8,690

 
$
7,299

 
$
9,562

Provision for recourse losses
81

 
93

 
211

 
260

Loans charged off, net
(506
)
 
(461
)
 
(1,244
)
 
(1,500
)
Ending balance
$
6,266

 
$
8,322

 
$
6,266

 
$
8,322
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):
 
September 30,
2015
 
September 30,
2014
Number of unresolved deficiency requests
194

 
184

Aggregate outstanding principal balance subject to unresolved deficiency requests
$
14,237

 
$
15,548

Unpaid principal balance subject to indemnification by the Company
4,604

 
4,792
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
Sept. 30,
 
Nine Months Ended
Sept. 30,
 
2015
 
2014
 
2015
 
2014
Beginning balance
$
8,908

 
$
12,119

 
$
11,868

 
$
12,716

Provision for losses
(52
)
 
1,122

 
(3,056
)
 
2,475

Charge-offs, net
(1,262
)
 
(3,486
)
 
(1,218
)
 
(5,436
)
Ending balance
$
7,594


$
9,755


$
7,594


$
9,755