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Other Real Estate
9 Months Ended
Sep. 30, 2015
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate
Note 7 - Other Real Estate
The carrying value of ORE was $64.3 million and $85.5 million at September 30, 2015 and December 31, 2014, respectively. During the nine months ended September 30, 2015 and 2014, $23.9 million and $35.5 million, respectively, of loans and other loans held for sale were foreclosed and transferred to other real estate at fair value less costs to sell. During the nine months ended September 30, 2015 and 2014, Synovus recognized foreclosed real estate expense, net, of $18.4 million and $18.8 million, respectively. These expenses included write-downs for declines in fair value of ORE subsequent to the date of foreclosure and net realized losses resulting from sales transactions totaling $14.9 million and $16.7 million for the nine months ended September 30, 2015 and 2014, respectively.
As of September 30, 2015 and December 31, 2014, there were $6.2 million and $12.8 million, respectively, of consumer mortgages secured by residential real estate properties for which formal foreclosure proceedings were in process.