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Mortgage Banking Activities (Tables)
 9 Months Ended
Sep. 30, 2014
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 
 
September 30, 2014
 
December 31, 2013
 
September 30, 2013
 
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid Principal Balance/
Notional
 
Fair Value
 
Unpaid
Principal
 Balance/
Notional
 
Fair Value
Residential mortgage loans held for sale
 
$
360,126

 
$
366,183

 
$
192,266

 
$
193,584

 
$
220,800

 
$
228,926

Residential mortgage loan commitments
 
537,975

 
8,480

 
258,873

 
2,656

 
351,196

 
10,948

Forward sales contracts
 
790,131

 
(1,410
)
 
435,867

 
4,306

 
560,069

 
(9,363
)
 
 
 

 
$
373,253

 
 

 
$
200,546

 
 

 
$
230,511
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2014
 
2013
 
2014
 
2013
Production revenue:
 
 
 
 
 
 
 
 
Net realized gains on sale of mortgage loans
 
$
17,100

 
$
19,440

 
$
39,025

 
$
83,147

Net change in unrealized gain on mortgage loans held for sale
 
(3,110
)
 
11,618

 
4,739

 
(4,091
)
Change in the fair value of mortgage loan commitments
 
(5,136
)
 
12,657

 
5,824

 
(1,785
)
Change in the fair value of forward sales contracts
 
5,839

 
(31,167
)
 
(5,716
)
 
(8,457
)
Total production revenue
 
14,693

 
12,548

 
43,872

 
68,814

Servicing revenue
 
12,121

 
10,938

 
35,116

 
31,244

Total mortgage banking revenue
 
$
26,814

 
$
23,486

 
$
78,988

 
$
100,058
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (Dollars in thousands):
 
 
September 30,
2014
 
December 31,
2013
 
September 30,
2013
Number of residential mortgage loans serviced for others
 
114,493

 
106,137

 
104,115

Outstanding principal balance of residential mortgage loans serviced for others
 
$
15,499,653

 
$
13,718,942

 
$
13,298,479

Weighted average interest rate
 
4.33
%
 
4.40
%
 
4.42
%
Remaining term (in months)
 
295

 
292

 
292
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
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, December 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


Activity in capitalized mortgage servicing rights during the three months ended September 30, 2013 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, June 30, 2013
 
$
15,582

 
$
117,307

 
$
132,889

Additions, net
 
—

 
13,225

 
13,225

Change in fair value due to loan runoff
 
(693
)
 
(4,212
)
 
(4,905
)
Change in fair value due to market changes
 
(76
)
 
(270
)
 
(346
)
Balance, Sept. 30, 2013
 
$
14,813

 
$
126,050

 
$
140,863


Activity in capitalized mortgage servicing rights during the nine months ended September 30, 2013 was as follows (in thousands):
 
 
Purchased
 
Originated
 
Total
Balance, December 31, 2012
 
$
12,976

 
$
87,836

 
$
100,812

Additions, net
 
—

 
39,157

 
39,157

Change in fair value due to loan runoff
 
(2,504
)
 
(13,229
)
 
(15,733
)
Change in fair value due to market changes
 
4,341

 
12,286

 
16,627

Balance, Sept. 30, 2013
 
$
14,813

 
$
126,050

 
$
140,863
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,
2014
 
December 31,
2013
 
September 30,
2013
Discount rate – risk-free rate plus a market premium
 
10.17%
 
10.21%
 
10.23%
Loan servicing costs – annually per loan based upon loan type:
 
 
 
 
 
 
    Performing loans
 
$60-$105
 
$60 - $105
 
$58 - $105
    Delinquent loans
 
$150 - $500
 
$150 - $500
 
$135 - $500
    Loans in foreclosure
 
$1,000 - $4,250
 
$1,000 - $4,250
 
$875 - $4,250
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
 
1.95%
 
1.80%
 
1.54%
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, 2014 follows (in thousands):
 
 
< 4.00%
 
4.00% - 4.99%

 
5.00% - 5.99%

 
> 5.99%
 
Total
Fair value
 
$
66,895

 
$
77,537

 
$
23,011

 
$
5,843

 
$
173,286

Outstanding principal of loans serviced for others
 
$
5,988,358

 
$
6,410,710

 
$
2,090,157

 
$
1,010,428

 
$
15,499,653

Weighted average prepayment rate1
 
7.10
%
 
8.06
%
 
11.63
%
 
26.41
%
 
9.37
%
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, 2014 follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days or More
 
Total
FHLMC
 
$
4,952,266

 
$
37,051

 
$
12,343

 
$
31,874

 
$
5,033,534

FNMA
 
4,957,520

 
29,596

 
8,963

 
18,070

 
5,014,149

GNMA
 
4,748,226

 
128,785

 
41,634

 
14,096

 
4,932,741

Other
 
505,623

 
5,473

 
2,555

 
5,578

 
519,229

Total
 
$
15,163,635

 
$
200,905

 
$
65,495

 
$
69,618

 
$
15,499,653
Activity in Allowance for Losses On Loans Sold With Recourse [Table Text Block]
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
Beginning balance
$
8,690

 
$
10,920

 
$
9,562

 
$
13,158

Provision for recourse losses
93

 
576

 
260

 
228

Loans charged off, net
(461
)
 
(1,055
)
 
(1,500
)
 
(2,945
)
Ending balance
$
8,322

 
$
10,441

 
$
8,322

 
$
10,441
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,
2014
 
September 30,
2013
Number of unresolved deficiency requests
184

 
524

Aggregate outstanding principal balance subject to unresolved deficiency requests
$
15,548

 
$
64,428

Unpaid principal balance subject to indemnification by the Company
4,792

 
2,440
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
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
Beginning balance
$
12,119

 
$
9,508

 
$
12,716

 
$
8,983

Provision for losses
1,122

 
1,804

 
2,475

 
4,111

Charge-offs, net
(3,486
)
 
(222
)
 
(5,436
)
 
(2,004
)
Ending balance
$
9,755


$
11,090


$
9,755


$
11,090