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Transfers of financial assets and mortgage servicing assets (Tables)
3 Months Ended
Mar. 31, 2020
Transfers and Servicing of Financial Assets  
Schedule Of Securitizations Of Financial Assets Accounted For As Sale [Text Block]

 

 

Proceeds Obtained During the Quarter Ended March 31, 2020

(In thousands)

Level 1

Level 2

Level 3

Initial Fair Value

Assets

 

 

 

 

 

 

 

 

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

50,648

$

-

$

50,648

Mortgage-backed securities - FNMA

 

-

 

33,573

 

-

 

33,573

Total trading account debt securities

$

-

$

84,221

$

-

$

84,221

Mortgage servicing rights

$

-

$

-

$

1,487

$

1,487

Total

$

-

$

84,221

$

1,487

$

85,708

 

 

Proceeds Obtained During the Quarter Ended March 31, 2019

(In thousands)

Level 1

Level 2

Level 3

Initial Fair Value

Assets

 

 

 

 

 

 

 

 

Trading account debt securities:

 

 

 

 

 

 

 

 

Mortgage-backed securities - GNMA

$

-

$

71,149

$

-

$

71,149

Mortgage-backed securities - FNMA

 

-

 

20,918

 

-

 

20,918

Total trading account debt securities

$

-

$

92,067

$

-

$

92,067

Mortgage servicing rights

$

-

$

-

$

1,658

$

1,658

Total

$

-

$

92,067

$

1,658

$

93,725

Schedule Of Servicing Assets At Fair Value Text Block

Residential MSRs

(In thousands)

March 31, 2020

March 31, 2019

Fair value at beginning of period

$

150,906

$

169,777

Additions

 

1,634

 

1,861

Changes due to payments on loans[1]

 

(2,502)

 

(2,587)

Reduction due to loan repurchases

 

(312)

 

(491)

Changes in fair value due to changes in valuation model inputs or assumptions

 

(2,439)

 

(747)

Other

 

24

 

-

Fair value at end of period

$

147,311

$

167,813

[1] Represents changes due to collection / realization of expected cash flows over time.

 

 

 

 

Schedule Of Assumptions For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Servicing Liabilities Text Block

 

Quarters ended

 

March 31, 2020

March 31, 2019

Prepayment speed

5.9

%

6.3

%

Weighted average life (in years)

9.8

 

9.9

 

Discount rate (annual rate)

10.9

%

11.0

%

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

 

 

Originated MSRs

Purchased MSRs

 

 

March 31,

December 31,

March 31,

December 31,

(In thousands)

2020

2019

2020

2019

Fair value of servicing rights

$

56,725

 

$

58,842

 

$

90,586

 

$

92,064

 

Weighted average life (in years)

 

6.6

 

 

6.7

 

 

6.3

 

 

6.3

 

Weighted average prepayment speed (annual rate)

 

6.0

%

 

5.7

%

 

6.5

%

 

6.2

%

 

Impact on fair value of 10% adverse change

$

(1,348)

 

$

(1,303)

 

$

(2,409)

 

$

(2,306)

 

 

Impact on fair value of 20% adverse change

$

(2,652)

 

$

(2,568)

 

$

(4,720)

 

$

(4,525)

 

Weighted average discount rate (annual rate)

 

11.4

%

 

11.4

%

 

11.0

%

 

11.0

%

 

Impact on fair value of 10% adverse change

$

(2,268)

 

$

(2,381)

 

$

(3,508)

 

$

(3,603)

 

 

Impact on fair value of 20% adverse change

$

(4,379)

 

$

(4,596)

 

$

(6,778)

 

$

(6,959)