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NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS (Tables)
3 Months Ended
Mar. 31, 2023
NON-CONSOLIDATED VARIABLE INTEREST ENTITIES AND SERVICING ASSETS [Abstract]  
Changes in Servicing Assets [Table Text Block]
Quarter Ended March 31,
 
2023
2022
(In thousands)
Balance at beginning of year
$
29,037
$
30,986
Capitalization of servicing assets
532
1,130
Amortization
(1,128)
(1,330)
Temporary impairment
 
recoveries
4
55
Other
(1)
(14)
(88)
Balance at end of period
$
28,431
$
30,753
(1)
Mainly represents adjustments related to the repurchase
 
of loans serviced for others.
Changes in Impairment Allowance [Table Text Block]
Quarter Ended March 31,
2023
2022
(In thousands)
Balance at beginning of year
$
12
$
78
Recoveries
(4)
(55)
 
Balance at end of period
$
8
$
23
Components of Net Servicing Income [Table Text Block]
Quarter Ended March 31,
2023
2022
(In thousands)
Servicing fees
$
2,718
$
2,819
Late charges and prepayment penalties
199
194
Adjustment for loans repurchased
(14)
(88)
 
Servicing income, gross
2,903
2,925
Amortization and impairment of servicing assets
(1,124)
(1,275)
 
Servicing income, net
$
1,779
$
1,650
Key Economic Assumptions Used in Determining Fair Value at Time of Sale of Loans [Table Text Block]
Weighted Average
Maximum
Minimum
Quarter Ended March 31, 2023
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
11.6
%
4.8
%
 
Conventional conforming mortgage loans
7.7
%
16.0
%
3.8
%
 
Conventional non-conforming mortgage loans
5.7
%
7.0
%
2.1
%
Discount rate:
 
Government-guaranteed mortgage loans
11.5
%
11.5
%
11.5
%
 
Conventional conforming mortgage loans
9.5
%
9.5
%
9.5
%
 
Conventional non-conforming mortgage loans
12.8
%
14.0
%
11.5
%
Quarter Ended March 31, 2022
Constant prepayment rate:
 
 
Government-guaranteed mortgage loans
6.7
%
18.3
%
4.8
%
 
Conventional conforming mortgage loans
6.6
%
18.4
%
3.4
%
 
Conventional non-conforming mortgage loans
6.6
%
21.9
%
4.9
%
Discount rate:
 
Government-guaranteed mortgage loans
12.0
%
12.0
%
12.0
%
 
Conventional conforming mortgage loans
10.0
%
10.0
%
10.0
%
 
Conventional non-conforming mortgage loans
12.3
%
14.5
%
12.0
%
Weighted-Averages of Key Economic Assumptions in Valuation Model [Table Text Block]
The weighted
 
averages of the
 
key economic
 
assumptions that the
 
Corporation used
 
in its valuation
 
model and the
 
sensitivity of the
current
 
fair
 
value
 
to
 
immediate
10
% and
20
% adverse
 
changes
 
in
 
those
 
assumptions
 
for
 
mortgage
 
loans
 
as of
 
March
 
31,
 
2023
 
and
December 31, 2022 were as follows:
March 31,
 
December 31,
2023
2022
(In thousands)
Carrying amount of servicing assets
$
28,431
$
29,037
Fair value
$
45,270
$
44,710
Weighted-average
 
expected life (in years)
7.80
7.80
Constant prepayment rate (weighted-average annual
 
rate)
6.34
%
6.40
%
 
Decrease in fair value due to 10% adverse change
$
1,040
$
1,048
 
Decrease in fair value due to 20% adverse change
$
2,036
$
2,054
Discount rate (weighted-average annual rate)
10.70
%
10.69
%
 
Decrease in fair value due to 10% adverse change
$
1,960
$
1,925
 
Decrease in fair value due to 20% adverse change
$
3,770
$
3,704