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Mortgage Banking Activities (Tables)
9 Months Ended
Sep. 30, 2020
Mortgage Banking [Abstract]  
Components of Residential Mortgage Loans Held For Sale [Table Text Block]
 September 30, 2020December 31, 2019
 Unpaid Principal Balance/
Notional
Fair ValueUnpaid Principal Balance/
Notional
Fair Value
Residential mortgage loans held for sale$259,076 $268,575 $175,117 $177,703 
Residential mortgage loan commitments560,493 29,224 158,460 5,233 
Forward sales contracts765,994 (2,509)315,203 (665)
  $295,290  $182,271 
Mortgage Banking Revenue [Table Text Block]
Mortgage banking revenue was as follows (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Production revenue:  
Net realized gains on sale of mortgage loans$36,300 $8,971 $70,126 $24,838 
Net change in unrealized gain (loss) on mortgage loans held for sale(1,672)97 6,913 965 
Net change in the fair value of mortgage loan commitments1,593 514 23,991 4,733 
Net change in the fair value of forward sales contracts2,210 4,232 (1,844)3,015 
Total production revenue38,431 13,814 99,186 33,551 
Servicing revenue13,528 16,366 43,876 48,594 
Total mortgage banking revenue$51,959 $30,180 $143,062 $82,145 
Summary of Mortgage Servicing Rights [Table Text Block]
The following represents a summary of mortgage servicing rights (dollars in thousands):
 September 30, 2020December 31, 2019
Number of residential mortgage loans serviced for others111,008 126,828 
Outstanding principal balance of residential mortgage loans serviced for others$17,116,204 $20,727,106 
Weighted average interest rate3.91 %3.98 %
Remaining term (in months)281289
Activity in Capitalized Mortgage Servicing Rights [Table Text Block]
The following represents activity in capitalized mortgage servicing rights (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Beginning Balance$97,971 $208,308 $201,886 $259,254 
Additions7,424 9,882 21,330 24,821 
Disposals — (10,801)— 
Change in fair value due to principal payments(11,192)(11,936)(28,971)(27,600)
Change in fair value due to market assumption changes3,441 (12,593)(85,800)(62,814)
Ending Balance$97,644 $193,661 $97,644 $193,661 
Assumptions to Value Mortgage Servicing Rights [Table Text Block]
Mortgage servicing rights are not traded in active markets. Fair value is determined by discounting the projected net cash flows. Significant market assumptions used to determine fair value based on significant unobservable inputs were as follows:
 September 30, 2020December 31, 2019
Discount rate – risk-free rate plus a market premium9.15%9.81%
Prepayment rate - based upon loan interest rate, original term and loan type
9.90% - 24.02%
8.28% - 16.05%
Loan servicing costs – annually per loan based upon loan type:
Performing loans
$69 - $94
$68 - $94
Delinquent loans
$150 - $500
$150 - $500
Loans in foreclosure
$1,000 - $4,000
$1,000 - $4,000
Escrow earnings rate – indexed to rates paid on deposit accounts with comparable average life
0.34%1.73%
Primary/secondary mortgage rate spread
105 bps104 bps
Delinquency rate
3.72%2.73%