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LOANS AND ALLOWANCE FOR LOAN LOSSES | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
LOANS AND ALLOWANCE FOR LOAN LOSSES | LOANS AND ALLOWANCE FOR LOAN LOSSES The following table presents the balances in our loan portfolio as of the dates indicated:
($ in thousands) |  | Traditional Loans |  | NTM Loans |  | Total Loans Receivable
December 31, 2019 |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Commercial and industrial |  | $ | 1,691,270 |  |  | $ | — |  |  | $ | 1,691,270 |
Commercial real estate |  | 818,817 |  |  | — |  |  | 818,817 |
Multifamily |  | 1,494,528 |  |  | — |  |  | 1,494,528 |
SBA |  | 70,981 |  |  | — |  |  | 70,981 |
Construction |  | 231,350 |  |  | — |  |  | 231,350 |
Consumer: |  |  |  |  |  |
Single family residential mortgage |  | 992,417 |  |  | 598,357 |  |  | 1,590,774 |
Other consumer |  | 51,866 |  |  | 2,299 |  |  | 54,165 |
Total loans (1) |  | $ | 5,351,229 |  |  | $ | 600,656 |  |  | $ | 5,951,885 |
Percentage to total loans |  | 89.9 | % |  | 10.1 | % |  | 100.0 | %
Allowance for loan losses |  |  |  |  |  | (57,649 | )
Loans receivable, net |  |  |  |  |  | $ | 5,894,236 |
December 31, 2018 |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Commercial and industrial |  | $ | 1,944,142 |  |  | $ | — |  |  | $ | 1,944,142 |
Commercial real estate |  | 867,013 |  |  | — |  |  | 867,013 |
Multifamily |  | 2,241,246 |  |  | — |  |  | 2,241,246 |
SBA |  | 68,741 |  |  | — |  |  | 68,741 |
Construction |  | 203,976 |  |  | — |  |  | 203,976 |
Consumer: |  |  |  |  |  |
Single family residential mortgage |  | 1,481,172 |  |  | 824,318 |  |  | 2,305,490 |
Other consumer |  | 67,852 |  |  | 2,413 |  |  | 70,265 |
Total loans (1) |  | $ | 6,874,142 |  |  | $ | 826,731 |  |  | $ | 7,700,873 |
Percentage to total loans |  | 89.3 | % |  | 10.7 | % |  | 100.0 | %
Allowance for loan losses |  |  |  |  |  | (62,192 | )
Loans receivable, net |  |  |  |  |  | $ | 7,638,681 |
(1) Total loans includes deferred loan origination costs/(fees) and premiums/(discounts), net of $14.3 million and $17.7 million at December 31, 2019 and 2018. Credit Quality Indicators We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. We perform historical loss analysis that is combined with a comprehensive loan to value analysis to analyze the associated risks in the current loan portfolio. We analyze loans individually by classifying the loans as to credit risk. This analysis includes all loans delinquent over 60 days and non-homogeneous loans such as commercial and commercial real estate loans. We use the following definitions for risk ratings: Pass: Loans classified as pass are in compliance in all respects with the Bank’s credit policy and regulatory requirements, and do not exhibit any potential or defined weakness as defined under “Special Mention”, “Substandard” or “Doubtful”. Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of our credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. The following table presents the risk categories for total loans as of December 31, 2019:
|  | December 31, 2019
($ in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
NTM loans: |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | 579,548 |  |  | $ | 5,790 |  |  | $ | 13,019 |  |  | $ | — |  |  | $ | 598,357 |
Other consumer |  | 2,299 |  |  | — |  |  | — |  |  | — |  |  | 2,299 |
Total NTM loans |  | 581,847 |  |  | 5,790 |  |  | 13,019 |  |  | — |  |  | 600,656 |
Traditional loans: |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 1,580,269 |  |  | 45,323 |  |  | 65,678 |  |  | — |  |  | 1,691,270 |
Commercial real estate |  | 813,846 |  |  | 2,532 |  |  | 2,439 |  |  | — |  |  | 818,817 |
Multifamily |  | 1,484,931 |  |  | 4,256 |  |  | 5,341 |  |  | — |  |  | 1,494,528 |
SBA |  | 60,982 |  |  | 2,760 |  |  | 5,621 |  |  | 1,618 |  |  | 70,981 |
Construction |  | 229,771 |  |  | 1,579 |  |  | — |  |  | — |  |  | 231,350 |
Consumer: |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 979,705 |  |  | 4,945 |  |  | 7,250 |  |  | 517 |  |  | 992,417 |
Other consumer |  | 51,032 |  |  | 346 |  |  | 488 |  |  | — |  |  | 51,866 |
Total traditional loans |  | 5,200,536 |  |  | 61,741 |  |  | 86,817 |  |  | 2,135 |  |  | 5,351,229 |
Total loans |  | $ | 5,782,383 |  |  | $ | 67,531 |  |  | $ | 99,836 |  |  | $ | 2,135 |  |  | $ | 5,951,885 |
The following table presents the risk categories for total loans as of December 31, 2018:
|  | December 31, 2018
($ in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
NTM loans: |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | 811,056 |  |  | $ | 10,966 |  |  | $ | 2,296 |  |  | $ | — |  |  | $ | 824,318 |
Other consumer |  | 2,413 |  |  | — |  |  | — |  |  | — |  |  | 2,413 |
Total NTM loans |  | 813,469 |  |  | 10,966 |  |  | 2,296 |  |  | — |  |  | 826,731 |
Traditional loans: |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 1,859,569 |  |  | 41,302 |  |  | 43,271 |  |  | — |  |  | 1,944,142 |
Commercial real estate |  | 851,604 |  |  | 11,376 |  |  | 4,033 |  |  | — |  |  | 867,013 |
Multifamily |  | 2,239,301 |  |  | — |  |  | 1,945 |  |  | — |  |  | 2,241,246 |
SBA |  | 53,433 |  |  | 6,114 |  |  | 8,340 |  |  | 854 |  |  | 68,741 |
Construction |  | 197,851 |  |  | 3,606 |  |  | 2,519 |  |  | — |  |  | 203,976 |
Consumer: |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 1,461,721 |  |  | 2,602 |  |  | 16,849 |  |  | — |  |  | 1,481,172 |
Other consumer |  | 66,228 |  |  | 979 |  |  | 645 |  |  | — |  |  | 67,852 |
Total traditional loans |  | 6,729,707 |  |  | 65,979 |  |  | 77,602 |  |  | 854 |  |  | 6,874,142 |
Total loans |  | $ | 7,543,176 |  |  | $ | 76,945 |  | — |  | $ | 79,898 |  |  | $ | 854 |  |  | $ | 7,700,873 |
Past Due Loans The following table presents the aging of the recorded investment in past due loans as of December 31, 2019, excluding accrued interest receivable (which is not considered to be material), by class of loans:
|  | December 31, 2019
($ in thousands) |  | 30 - 59 Days Past Due |  | 60 - 89 Days Past Due |  | Greater than 89 Days Past due |  | Total Past Due |  | Current |  | Total
NTM loans: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | 3,973 |  |  | $ | 3,535 |  |  | $ | 13,019 |  |  | $ | 20,527 |  |  | $ | 577,830 |  |  | $ | 598,357 |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,299 |  |  | 2,299 |
Total NTM loans |  | 3,973 |  |  | 3,535 |  |  | 13,019 |  |  | 20,527 |  |  | 580,129 |  |  | 600,656 |
Traditional loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 780 |  |  | 5,670 |  |  | 3,862 |  |  | 10,312 |  |  | 1,680,958 |  |  | 1,691,270 |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | — |  |  | 818,817 |  |  | 818,817 |
Multifamily |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,494,528 |  |  | 1,494,528 |
SBA |  | 586 |  |  | 842 |  |  | 2,152 |  |  | 3,580 |  |  | 67,401 |  |  | 70,981 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 231,350 |  |  | 231,350 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 13,752 |  |  | 3,496 |  |  | 5,606 |  |  | 22,854 |  |  | 969,563 |  |  | 992,417 |
Other consumer |  | 199 |  |  | 40 |  |  | 95 |  |  | 334 |  |  | 51,532 |  |  | 51,866 |
Total traditional loans |  | 15,317 |  |  | 10,048 |  |  | 11,715 |  |  | 37,080 |  |  | 5,314,149 |  |  | 5,351,229 |
Total loans |  | $ | 19,290 |  |  | $ | 13,583 |  |  | $ | 24,734 |  |  | $ | 57,607 |  |  | $ | 5,894,278 |  |  | $ | 5,951,885 |
The following table presents the aging of the recorded investment in past due loans as of December 31, 2018, excluding accrued interest receivable (which is not considered to be material), by class of loans:
|  | December 31, 2018
($ in thousands) |  | 30 - 59 Days Past Due |  | 60 - 89 Days Past Due |  | Greater than 89 Days Past due |  | Total Past Due |  | Current |  | Total
NTM loans: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | 7,430 |  |  | $ | 617 |  |  | $ | — |  |  | $ | 8,047 |  |  | $ | 816,271 |  |  | $ | 824,318 |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,413 |  |  | 2,413 |
Total NTM loans |  | 7,430 |  |  | 617 |  |  | — |  |  | 8,047 |  |  | 818,684 |  |  | 826,731 |
Traditional loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 350 |  |  | 1,596 |  |  | 3,340 |  |  | 5,286 |  |  | 1,938,856 |  |  | 1,944,142 |
Commercial real estate |  | — |  |  | 582 |  |  | — |  |  | 582 |  |  | 866,431 |  |  | 867,013 |
Multifamily |  | 356 |  |  | — |  |  | — |  |  | 356 |  |  | 2,240,890 |  |  | 2,241,246 |
SBA |  | 551 |  |  | 77 |  |  | 862 |  |  | 1,490 |  |  | 67,251 |  |  | 68,741 |
Construction |  | — |  |  | 939 |  |  | — |  |  | 939 |  |  | 203,037 |  |  | 203,976 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 7,321 |  |  | 3,160 |  |  | 9,198 |  |  | 19,679 |  |  | 1,461,493 |  |  | 1,481,172 |
Other consumer |  | 3,132 |  |  | 573 |  |  | 446 |  |  | 4,151 |  |  | 63,701 |  |  | 67,852 |
Total traditional loans |  | 11,710 |  |  | 6,927 |  |  | 13,846 |  |  | 32,483 |  |  | 6,841,659 |  |  | 6,874,142 |
Total loans |  | $ | 19,140 |  |  | $ | 7,544 |  |  | $ | 13,846 |  |  | $ | 40,530 |  |  | $ | 7,660,343 |  |  | $ | 7,700,873 |
Non-accrual Loans The following table presents the composition of non-accrual loans as of the dates indicated:
|  | December 31,
|  | 2019 |  | 2018
($ in thousands) |  | NTM Loans |  | Traditional Loans |  | Total |  | NTM Loans |  | Traditional Loans |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | 19,114 |  |  | $ | 19,114 |  |  | $ | — |  |  | $ | 5,455 |  |  | $ | 5,455 |
SBA |  | — |  |  | 5,230 |  |  | 5,230 |  |  | — |  |  | 2,574 |  |  | 2,574 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 13,019 |  |  | 5,606 |  |  | 18,625 |  |  | — |  |  | 12,929 |  |  | 12,929 |
Other consumer |  | — |  |  | 385 |  |  | 385 |  |  | — |  |  | 627 |  |  | 627 |
Total |  | $ | 13,019 |  |  | $ | 30,335 |  |  | $ | 43,354 |  |  | $ | — |  |  | $ | 21,585 |  |  | $ | 21,585 |
At December 31, 2019 and 2018, $0 and $470 thousand of loans were past due 90 days or more and still accruing. Loans in Process of Foreclosure At December 31, 2019 and 2018, consumer mortgage loans of $15.7 million and $5.1 million were secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Allowance for Loan Losses We have established credit risk management processes that include regular management review of the loan portfolio to identify problem loans. During the ordinary course of business, management becomes aware of borrowers who may not be able to fulfill the contractual payment requirements of the loan agreements. Such loans are subject to increased monitoring. Consideration is given to placing the loan on non-accrual status, assessing the need for additional ALL, and partial or full charge-off of the principal balance. We maintain the ALL at a level that is considered adequate to cover the estimated incurred loss in the loan portfolio. We also maintain a separate reserve for unfunded loan commitments at a level that is considered adequate to cover the estimated incurred loss. The estimated funding of the loan commitments and credit risk factors determined based on outstanding loans that share similar credit risk exposure are used to determine the adequacy of the reserve. At December 31, 2019 and 2018, the reserve for unfunded loan commitments was $4.1 million and $4.6 million and is reported in Accrued Expenses and Other Liabilities on the Consolidated Statements of Financial Condition. The credit risk monitoring system is designed to identify impaired and potential problem loans, and to perform periodic evaluation of impairment and the adequacy of the allowance for credit losses in a timely manner. In addition, the Board of Directors of the Bank has adopted a credit policy that includes a credit review and control system that it believes should be effective in ensuring that we maintain an adequate allowance for loan losses. The Board of Directors also provides oversight and guidance for management’s allowance evaluation process. Management concluded these products represented unique credit and risk characteristics to warrant separate segmentation. Additionally, management enhanced the methodology in the areas of qualitative adjustments, and performed an annual update of the loss emergence period. These updates were designed to be systematic, transparent, and repeatable. None of the updates and enhancements made to the ALL methodology had a material impact on the reserve. The following table presents a summary of activity in the ALL for the periods indicated:
|  | Year Ended December 31,
($ in thousands) |  | 2019 |  | 2018 |  | 2017
Balance at beginning of year |  | $ | 62,192 |  |  | $ | 49,333 |  |  | $ | 40,444 |
Loans charged-off |  | (41,766 | ) |  | (18,499 | ) |  | (5,581 | )
Recoveries of loans previously charged off |  | 836 |  |  | 1,143 |  |  | 771 |
Net charge-offs |  | (40,930 | ) |  | (17,356 | ) |  | (4,810 | )
Provision for loan losses |  | 36,387 |  |  | 30,215 |  |  | 13,699 |
Balance at end of year |  | $ | 57,649 |  |  | $ | 62,192 |  |  | $ | 49,333 |
During 2019 we recorded $41.8 million in charge-offs including a $35.1 million charge-off of a line of credit originated in November 2017 to a borrower purportedly the subject of a fraudulent scheme. This charge-off increased the loss factor used in our allowance for loan loss for commercial and industrial loans, resulting in an additional loan loss provision of $3.0 million based on the composition of the loan portfolio. On October 22, 2019, in connection with this matter, the Bank filed a complaint in U.S. District Court for the Southern District of California (Case CV '19 02031 GPC KSC) seeking to recover its losses and other monetary damages against Chicago Title Insurance Company and Chicago Title Company, asserting claims under RICO, 18 U.S.C § 1962 and for RICO Conspiracy, Fraud, Aiding and Abetting Fraud, Negligent Misrepresentation, Breach of Fiduciary Duty and Negligence. We are actively considering and pursuing available sources of recovery and other potential means of mitigating the loss; however, no assurance can be given that we will be successful in that regard. During the three months ended March 31, 2018, we recorded a charge-off of $13.9 million, which reflected the outstanding balance under a $15.0 million line of credit that was originated during the three months ended March 31, 2018. Subsequent to the granting of the line of credit, representations from the borrower in applying for the line of credit were determined by the Bank to be false, and third party bank account statements provided by the borrower to secure the line of credit were found to be fraudulent. The line of credit was granted after the borrower appeared to have satisfied a pre-condition that the line of credit be fully cash collateralized and secured by a bank account at a third party financial institution pledged to the Bank. As part of the Bank’s credit review and portfolio management process, the line of credit and disbursements were reviewed subsequent to closing and compliance with the borrower’s covenants was monitored. As part of this process, on March 9, 2018, the Bank received information that caused it to believe the existence of the pledged bank account had been misrepresented by the borrower and that the account had previously been closed. The Bank filed an action in federal court pursuing the borrower and other parties and is also pursuing other available sources of collection and other potential means of mitigating the loss; however, no assurance can be given that it will be successful in this regard. The following table presents the activity and balance in the ALL and the recorded investment, excluding accrued interest, in loans by portfolio segment and is based on the impairment method as of or for the year ended December 31, 2019:
($ in thousands) |  | Commercial and Industrial |  | Commercial Real Estate |  | Multifamily |  | SBA |  | Construction |  | Lease Financing |  | Single Family Residential Mortgage |  | Other Consumer |  | Total
ALL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2018 |  | $ | 18,191 |  |  | $ | 6,674 |  |  | $ | 17,970 |  |  | $ | 1,827 |  |  | $ | 3,461 |  |  | $ | — |  |  | $ | 13,128 |  |  | $ | 941 |  |  | $ | 62,192 |
Charge-offs |  | (36,787 | ) |  | — |  |  | (6 | ) |  | (2,121 | ) |  | (371 | ) |  | — |  |  | (2,369 | ) |  | (112 | ) |  | (41,766 | )
Recoveries |  | 138 |  |  | — |  |  | — |  |  | 217 |  |  | — |  |  | 12 |  |  | 150 |  |  | 319 |  |  | 836 |
Net charge-offs |  | (36,649 | ) |  | — |  |  | (6 | ) |  | (1,904 | ) |  | (371 | ) |  | 12 |  |  | (2,219 | ) |  | 207 |  |  | (40,930 | )
Transfer of loans to held-for-sale |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Provision (reversal of provision) |  | 40,811 |  |  | (733 | ) |  | (6,559 | ) |  | 3,197 |  |  | 816 |  |  | (12 | ) |  | (423 | ) |  | (710 | ) |  | 36,387 |
Balance at December 31, 2019 |  | $ | 22,353 |  |  | $ | 5,941 |  |  | $ | 11,405 |  |  | $ | 3,120 |  |  | $ | 3,906 |  |  | $ | — |  |  | $ | 10,486 |  |  | $ | 438 |  |  | $ | 57,649 |
Individually evaluated for impairment |  | $ | 3,367 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,045 |  |  | $ | — |  |  | $ | — |  |  | $ | 574 |  |  | $ | 4 |  |  | $ | 5,990 |
Collectively evaluated for impairment |  | 18,986 |  |  | 5,941 |  |  | 11,405 |  |  | 1,075 |  |  | 3,906 |  |  | — |  |  | 9,912 |  |  | 434 |  |  | 51,659 |
Total ending ALL |  | $ | 22,353 |  |  | $ | 5,941 |  |  | $ | 11,405 |  |  | $ | 3,120 |  |  | $ | 3,906 |  |  | $ | — |  |  | $ | 10,486 |  |  | $ | 438 |  |  | $ | 57,649 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 20,236 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,136 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,657 |  |  | $ | 679 |  |  | $ | 49,708 |
Collectively evaluated for impairment |  | 1,671,034 |  |  | 818,817 |  |  | 1,494,528 |  |  | 65,845 |  |  | 231,350 |  |  | — |  |  | 1,567,117 |  |  | 53,486 |  |  | 5,902,177 |
Total loans |  | $ | 1,691,270 |  |  | $ | 818,817 |  |  | $ | 1,494,528 |  |  | $ | 70,981 |  |  | $ | 231,350 |  |  | $ | — |  |  | $ | 1,590,774 |  |  | $ | 54,165 |  |  | $ | 5,951,885 |
The following table presents the activity and balance in the ALL and the recorded investment, excluding accrued interest, in loans by portfolio segment and is based on the impairment method as of or for the year ended December 31, 2018:
($ in thousands) |  | Commercial and Industrial |  | Commercial Real Estate |  | Multifamily |  | SBA |  | Construction |  | Lease Financing |  | Single Family Residential Mortgage |  | Other Consumer |  | Total
ALL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2017 |  | $ | 14,280 |  |  | $ | 4,971 |  |  | $ | 13,265 |  |  | $ | 1,701 |  |  | $ | 3,318 |  |  | $ | — |  |  | $ | 10,996 |  |  | $ | 802 |  |  | $ | 49,333 |
Charge-offs |  | (1,927 | ) |  | — |  |  | (14 | ) |  | (1,927 | ) |  | — |  |  | — |  |  | (558 | ) |  | (14,073 | ) |  | (18,499 | )
Recoveries |  | 396 |  |  | — |  |  | — |  |  | 273 |  |  | — |  |  | 15 |  |  | 436 |  |  | 23 |  |  | 1,143 |
Net charge-offs |  | (1,531 | ) |  | — |  |  | (14 | ) |  | (1,654 | ) |  | — |  |  | 15 |  |  | (122 | ) |  | (14,050 | ) |  | (17,356 | )
Provision (reversal of provision) |  | 5,442 |  |  | 1,703 |  |  | 4,719 |  |  | 1,780 |  |  | 143 |  |  | (15 | ) |  | 2,254 |  |  | 14,189 |  |  | 30,215 |
Balance at December 31, 2018 |  | $ | 18,191 |  |  | $ | 6,674 |  |  | $ | 17,970 |  |  | $ | 1,827 |  |  | $ | 3,461 |  |  | $ | — |  |  | $ | 13,128 |  |  | $ | 941 |  |  | $ | 62,192 |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 562 |  |  | $ | — |  |  | $ | — |  |  | $ | 161 |  |  | $ | 106 |  |  | $ | 829 |
Collectively evaluated for impairment |  | 18,191 |  |  | 6,674 |  |  | 17,970 |  |  | 1,265 |  |  | 3,461 |  |  | — |  |  | 12,967 |  |  | 835 |  |  | 61,363 |
Total ending ALL |  | $ | 18,191 |  |  | $ | 6,674 |  |  | $ | 17,970 |  |  | $ | 1,827 |  |  | $ | 3,461 |  |  | $ | — |  |  | $ | 13,128 |  |  | $ | 941 |  |  | $ | 62,192 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 5,455 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,376 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,193 |  |  | $ | 921 |  |  | $ | 26,945 |
Collectively evaluated for impairment |  | 1,938,687 |  |  | 867,013 |  |  | 2,241,246 |  |  | 66,365 |  |  | 203,976 |  |  | — |  |  | 2,287,297 |  |  | 69,344 |  |  | 7,673,928 |
Total loans |  | $ | 1,944,142 |  |  | $ | 867,013 |  |  | $ | 2,241,246 |  |  | $ | 68,741 |  |  | $ | 203,976 |  |  | $ | — |  |  | $ | 2,305,490 |  |  | $ | 70,265 |  |  | $ | 7,700,873 |
The following table presents information on impaired loans, disaggregated by class, for the periods indicated:
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
($ in thousands) |  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Interest Recognized |  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Interest Recognized |  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Interest Recognized
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 17,263 |  |  | $ | 320 |  |  | $ | 315 |  |  | $ | 5,380 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 1,034 |  |  | $ | — |  |  | $ | — |
Commercial real estate |  | 145 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SBA |  | 4,673 |  |  | 15 |  |  | 15 |  |  | 986 |  |  | 4 |  |  | 3 |  |  | 357 |  |  | — |  |  | — |
Construction |  | 1,889 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 382 |  |  | — |  |  | — |
Lease Financing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19 |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 21,198 |  |  | 234 |  |  | 199 |  |  | 19,694 |  |  | 236 |  |  | 199 |  |  | 12,611 |  |  | 199 |  |  | 182 |
Other consumer |  | 883 |  |  | 13 |  |  | 13 |  |  | 771 |  |  | 12 |  |  | 11 |  |  | 1,757 |  |  | 8 |  |  | 8 |
Total |  | $ | 46,051 |  |  | $ | 582 |  |  | $ | 542 |  |  | $ | 26,831 |  |  | $ | 256 |  |  | $ | 217 |  |  | $ | 16,158 |  |  | $ | 207 |  |  | $ | 190 |
The following table presents loans individually evaluated for impairment by class of loans as of the dates indicated. The recorded investment, excluding accrued interest, presents client balances net of any partial charge-offs recognized on the loans and net of any deferred fees and costs and any purchase premium or discount.
|  | December 31,
|  | 2019 |  | 2018
($ in thousands) |  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses |  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 1,471 |  |  | $ | 1,460 |  |  | $ | — |  |  | $ | 5,491 |  |  | $ | 5,455 |  |  | $ | — |
SBA |  | 1,439 |  |  | 1,379 |  |  | — |  |  | 1,668 |  |  | 1,588 |  |  | — |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 19,319 |  |  | 19,405 |  |  | — |  |  | 12,115 |  |  | 12,161 |  |  | — |
Other consumer |  | 671 |  |  | 675 |  |  | — |  |  | 469 |  |  | 469 |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 18,776 |  |  | 18,776 |  |  | 3,367 |  |  | — |  |  | — |  |  | — |
SBA |  | 3,921 |  |  | 3,757 |  |  | 2,045 |  |  | 823 |  |  | 788 |  |  | 562 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 4,213 |  |  | 4,252 |  |  | 574 |  |  | 5,993 |  |  | 6,032 |  |  | 161 |
Other consumer |  | 4 |  |  | 4 |  |  | 4 |  |  | 468 |  |  | 452 |  |  | 106 |
Total |  | $ | 49,814 |  |  | $ | 49,708 |  |  | $ | 5,990 |  |  | $ | 27,027 |  |  | $ | 26,945 |  |  | $ | 829 |
Troubled Debt Restructurings (TDRs) A modification of a loan constitutes a TDR when we, for economic or legal reasons related to a borrower’s financial difficulties, grant a concession to the borrower that we would not otherwise consider. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the amount of principal amortization, forgiveness of a portion of the loan balance or accrued interest, or extension of the maturity date. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under our internal underwriting policy. Troubled debt restructured loans consisted of the following as of the dates indicated:
|  | December 31,
|  | 2019 |  | 2018
($ in thousands) |  | NTM Loans |  | Traditional Loans |  | Total |  | NTM Loans |  | Traditional Loans |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | 16,245 |  |  | $ | 16,245 |  |  | $ | — |  |  | $ | 2,276 |  |  | $ | 2,276 |
SBA |  | — |  |  | 266 |  |  | 266 |  |  | — |  |  | 187 |  |  | 187 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 2,638 |  |  | 2,394 |  |  | 5,032 |  |  | 2,668 |  |  | 2,596 |  |  | 5,264 |
Other consumer |  | 294 |  |  | — |  |  | 294 |  |  | 294 |  |  | — |  |  | 294 |
Total |  | $ | 2,932 |  |  | $ | 18,905 |  |  | $ | 21,837 |  |  | $ | 2,962 |  |  | $ | 5,059 |  |  | $ | 8,021 |
We had $135 thousand and $0 in commitments to lend to clients with outstanding loans that were classified as TDRs as of December 31, 2019 and 2018. Accruing TDRs were $6.6 million and non-accrual TDRs were $15.2 million at December 31, 2019, compared to accruing TDRs of $5.7 million and non-accrual TDRs of $2.3 million at December 31, 2018. The following table summarizes the pre-modification and post-modification balances of the new TDRs for the periods indicated:
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
($ in thousands) |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 12 |  |  | $ | 18,512 |  |  | $ | 15,865 |  |  | 2 |  |  | $ | 171 |  |  | $ | 163 |  |  | 1 |  |  | $ | 2,706 |  |  | $ | 2,706 |
SBA |  | 2 |  |  | 3,214 |  |  | 869 |  |  | 1 |  |  | 187 |  |  | 187 |  |  | — |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 2,416 |  |  | 2,433 |
Total |  | 14 |  |  | $ | 21,726 |  |  | $ | 16,734 |  |  | 3 |  |  | $ | 358 |  |  | $ | 350 |  |  | 4 |  |  | $ | 5,122 |  |  | $ | 5,139 |
For the years ended December 31, 2019, 2018, and 2017, there were no loans that were modified as TDRs during the past 12 months that had subsequent payment defaults during the periods. The following table summarizes the TDRs by modification type for the periods indicated:
|  | Modification Type
|  | Change in Principal Payments and Interest Rates |  | Change in Principal Payments |  | Change in Interest Rates |  | Chapter 7 Bankruptcy |  | Other |  | Total
($ in thousands) |  | Count |  | Amount |  | Count |  | Amount |  | Count |  | Amount |  | Count |  | Amount |  | Count |  | Amount |  | Count |  | Amount
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 12 |  |  | $ | 15,865 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 12 |  |  | $ | 15,865 |
SBA |  | 2 |  |  | 869 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 869 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 14 |  |  | $ | 16,734 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 14 |  |  | $ | 16,734 |
Year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | $ | — |  |  | 2 |  |  | $ | 163 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 2 |  |  | $ | 163 |
SBA |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 187 |  |  | 1 |  |  | 187 |
Total |  | — |  |  | $ | — |  |  | 2 |  |  | $ | 163 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 187 |  |  | 3 |  |  | $ | 350 |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 2,706 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 2,706 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 2 |  |  | 1,290 |  |  | 1 |  |  | 1,143 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 2,433 |
Total |  | 2 |  |  | $ | 1,290 |  |  | 2 |  |  | $ | 3,849 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 4 |  |  | $ | 5,139 |
Purchases and Sales The following table presents loans purchased and/or sold by portfolio segment, excluding loans held-for-sale, loans acquired in business combinations or sold in sales of branches and business units, and PCI loans for the periods indicated:
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
($ in thousands) |  | Purchases |  | Sales |  | Purchases |  | Sales |  | Purchases |  | Sales
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | — |  |  | 59,481 |  |  | — |  |  | — |  |  | — |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | 59,481 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Loan purchases during the year ended December 31, 2018 were made at a net premium of $2.3 million. For the purchased loans disclosed above, we did not incur any specific allowances for loan losses during the years ended December 31, 2019, 2018, and 2017. We determined that it was probable at acquisition that all contractually required payments would be collected. The following table presents loans transferred from (to) loans held-for-sale by portfolio segment, excluding loans transferred in connection with sales of branches and business units, and PCI loans for the periods indicated:
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
($ in thousands) |  | Transfers from Held-For-Sale |  | Transfers to Held-For-Sale |  | Transfers from Held-For-Sale |  | Transfers to Held-For-Sale |  | Transfers from Held-For-Sale |  | Transfers to Held-For-Sale
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,133 | ) |  | $ | — |  |  | $ | (3,924 | )
Commercial real estate |  | — |  |  | (573 | ) |  | — |  |  | — |  |  | — |  |  | (1,329 | )
Multifamily |  | — |  |  | (752,087 | ) |  | — |  |  | (81,449 | ) |  | — |  |  | (6,583 | )
SBA |  | — |  |  | (559 | ) |  | — |  |  | — |  |  | — |  |  | (1,865 | )
Construction |  | — |  |  | (2,519 | ) |  | — |  |  | (434 | ) |  | — |  |  | (1,528 | )
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | (383,859 | ) |  | — |  |  | (289,617 | ) |  | 88,591 |  |  | (450,625 | )
Other consumer |  | — |  |  | — |  |  | — |  |  | (4,362 | ) |  | — |  |  | — |
Total |  | $ | — |  |  | $ | (1,139,597 | ) |  | $ | — |  |  | $ | (376,995 | ) |  | $ | 88,591 |  |  | $ | (465,854 | )
Included in transfers to loans held for sale for the year ended December 31, 2019 is $573.9 million in multifamily loans from loans held-for-investment related to our completed Freddie Mac multifamily securitization which closed during the third quarter of 2019. The loans included in the securitization had a weighted average coupon of 3.79% and a weighted average term to initial reset of 3.5 years. The related mortgage servicing rights were also sold. In connection with the securitization, during the second quarter of 2019, we entered into interest rate swap agreements with a combined notional value of $543.4 million to offset variability in the fair value of the related loans as a result of changes in market interest rates. During the year ended December 31, 2019, we realized a loss of $9.0 million related to these swap agreements due to a decline in interest rates since their execution and this was offset by the $8.9 million gross gain realized on the loans sold into the securitization. The swap agreements were closed at the time the loans were sold into the securitization. Non-Traditional Mortgage (NTM) Loans Our NTM portfolio is comprised of three interest only products: Green Loans, Interest Only loans and a small number of additional loans with the potential for negative amortization. As of December 31, 2019 and 2018, the NTM loans totaled $600.7 million, or 10.1% of total loans, and $826.7 million, or 10.7% of total loans, respectively. The total NTM portfolio decreased by $226.1 million, or 27.3%, during the year ended December 31, 2019. The following table presents the composition of the NTM portfolio as of the dates indicated:
|  | December 31,
|  | 2019 |  | 2018
($ in thousands) |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent
Green Loans (HELOC) - first liens |  | 69 |  |  | $ | 49,959 |  |  | 8.3 | % |  | 88 |  |  | $ | 67,729 |  |  | 8.2 | %
Interest only - first liens |  | 376 |  |  | 545,371 |  |  | 90.8 | % |  | 519 |  |  | 753,061 |  |  | 91.1 | %
Negative amortization |  | 9 |  |  | 3,027 |  |  | 0.5 | % |  | 11 |  |  | 3,528 |  |  | 0.4 | %
Total NTM - first liens |  | 454 |  |  | 598,357 |  |  | 99.6 | % |  | 618 |  |  | 824,318 |  |  | 99.7 | %
Green Loans (HELOC) - second liens |  | 7 |  |  | 2,299 |  |  | 0.4 | % |  | 10 |  |  | 2,413 |  |  | 0.3 | %
Total NTM - second liens |  | 7 |  |  | 2,299 |  |  | 0.4 | % |  | 10 |  |  | 2,413 |  |  | 0.3 | %
Total NTM loans |  | 461 |  |  | $ | 600,656 |  |  | 100.0 | % |  | 628 |  |  | $ | 826,731 |  |  | 100.0 | %
Total loans |  |  |  | $ | 5,951,885 |  |  |  |  |  |  | $ | 7,700,873 |  |  |
Percentage to total loans |  |  |  | 10.1 | % |  |  |  |  |  | 10.7 | % |  |
Green Loans Green Loans are single family residential first and second mortgage lines of credit with a linked checking account that allows all types of deposits and withdrawals to be performed. The loans are generally interest only for a 15-year term with a balloon payment due at maturity. At December 31, 2019 and 2018, Green Loans totaled $52.3 million and $70.1 million. At December 31, 2019 and 2018, $1.5 million and $0 of our Green Loans were non-performing. As a result of their unique payment feature, Green Loans possess higher credit risk due to the potential for negative amortization; however, management believes the risk is mitigated through our loan terms and underwriting standards, including our policies on LTV ratios and our contractual ability to curtail loans when the value of the underlying collateral declines. We discontinued origination of the Green Loans products in 2011. Interest Only Loans Interest Only loans are primarily single family residential first mortgage loans with payment features that allow interest only payments in initial periods before converting to a fully amortizing loan. At December 31, 2019 and 2018, Interest Only loans totaled $545.4 million and $753.1 million. At December 31, 2019 and 2018, $11.5 million and $0 of the Interest Only loans were non-performing. Loans with the Potential for Negative Amortization Negative amortization loans totaled $3.0 million and $3.5 million at December 31, 2019 and 2018. We discontinued origination of negative amortization loans in 2007. At December 31, 2019 and 2018, none of the loans with the potential for negative amortization were non-performing. These loans pose a potentially higher credit risk because of the lack of principal amortization and potential for negative amortization; however, management believes the risk is mitigated through the loan terms and underwriting standards, including our policies on LTV ratios. Risk Management of Non-Traditional Mortgages We proactively manage the NTM portfolio by performing detailed analyses on the portfolio. We have determined that significant performance indicators for NTMs are loan to value (LTV) ratios and FICO scores. Accordingly, we manage credit risk in the NTM portfolio through periodic review of the loan portfolio that includes refreshing FICO scores on the Green Loans and HELOCs, as needed in conjunction with portfolio management, and ordering third party automated valuation models (AVMs). The loan review is designed to provide a method of identifying borrowers who may be experiencing financial difficulty before they actually fail to make a loan payment. Upon receipt of the updated FICO scores, an exception report is run to identify loans with a decrease in FICO score of 10% or more and/or a resulting FICO score of 620 or less. The loans are then further analyzed to determine if the risk rating should be downgraded, which will increase the reserves established for potential losses. For revolving lines of credit, we, based on the loan agreement and loan covenants of the particular loan, as well as applicable rules and regulations, could suspend the borrowing privileges or reduce the credit limit at any time we reasonably believe that the borrower will be unable to fulfill their repayment obligations under the agreement or certain other conditions are met. In many cases, the decrease in FICO score is the first indication that the borrower may have difficulty in making their future payment obligations. Our management meets at least quarterly to review the loans classified as special mention, substandard, or doubtful and determines whether a suspension or reduction in credit limit is warranted. If a line has been suspended and the borrower would like to have their credit privileges reinstated, they would need to provide updated financials showing their ability to meet their payment obligations. On the Interest Only loans, we project future payment changes to determine if there will be a material increase in the required payment and then monitors the loans for possible delinquency. Individual loans are monitored for possible downgrading of risk rating. Non-Traditional Mortgage Performance Indicators The following table presents our Green Loans first lien portfolio at December 31, 2019 by FICO scores that were obtained during the quarter ended December 31, 2019, comparing to the FICO scores for those same loans that were obtained during the quarter ended December 31, 2018:
|  | By FICO Scores Obtained During the Quarter Ended December 31, 2019 |  | By FICO Scores Obtained During the Quarter Ended December 31, 2018 |  | Change
($ in thousands) |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent
FICO score |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ |  | 13 |  |  | $ | 3,509 |  |  | 7.0 | % |  | 16 |  |  | $ | 10,617 |  |  | 15.7 | % |  | (3 | ) |  | $ | (7,108 | ) |  | (66.9 | )%
700-799 |  | 38 |  |  | 27,011 |  |  | 54.1 | % |  | 50 |  |  | 34,888 |  |  | 51.5 | % |  | (12 | ) |  | (7,877 | ) |  | (22.6 | )%
600-699 |  | 10 |  |  | 12,400 |  |  | 24.8 | % |  | 16 |  |  | 14,098 |  |  | 20.8 | % |  | (6 | ) |  | (1,698 | ) |  | (12.0 | )%
<600 |  | 5 |  |  | 3,286 |  |  | 6.6 | % |  | 3 |  |  | 4,347 |  |  | 6.4 | % |  | 2 |  |  | (1,061 | ) |  | (24.4 | )%
No FICO score |  | 3 |  |  | 3,753 |  |  | 7.5 | % |  | 3 |  |  | 3,779 |  |  | 5.6 | % |  | — |  |  | (26 | ) |  | (0.7 | )%
Total |  | 69 |  |  | $ | 49,959 |  |  | 100.0 | % |  | 88 |  |  | $ | 67,729 |  |  | 100.0 | % |  | (19 | ) |  | $ | (17,770 | ) |  | (26.2 | )%
o value ratio is determined by dividing the current unpaid principal balance by the most recent estimated property value received per our policy. A lower LTV represents lower risk. The table below represents our single family residential NTM first lien portfolio by LTV ratios as of the dates indicated:
LTV Ratios |  | Green |  | Interest Only |  | Negative Amortization |  | Total
($ in thousands) |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
< 61 |  | 54 |  |  | $ | 37,804 |  |  | 75.6 | % |  | 231 |  |  | $ | 346,899 |  |  | 63.6 | % |  | 9 |  |  | $ | 3,027 |  |  | 100.0 | % |  | 294 |  |  | $ | 387,730 |  |  | 64.8 | %
61-80 |  | 12 |  |  | 8,531 |  |  | 17.1 | % |  | 136 |  |  | 183,664 |  |  | 33.7 | % |  | — |  |  | — |  |  | — | % |  | 148 |  |  | 192,195 |  |  | 32.1 | %
81-100 |  | 3 |  |  | 3,624 |  |  | 7.3 | % |  | 6 |  |  | 7,081 |  |  | 1.3 | % |  | — |  |  | — |  |  | — | % |  | 9 |  |  | 10,705 |  |  | 1.8 | %
> 100 |  | — |  |  | — |  |  | — | % |  | 3 |  |  | 7,727 |  |  | 1.4 | % |  | — |  |  | — |  |  | — | % |  | 3 |  |  | 7,727 |  |  | 1.3 | %
Total |  | 69 |  |  | $ | 49,959 |  |  | 100.0 | % |  | 376 |  |  | $ | 545,371 |  |  | 100.0 | % |  | 9 |  |  | $ | 3,027 |  |  | 100.0 | % |  | 454 |  |  | $ | 598,357 |  |  | 100.0 | %
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
< 61 |  | 69 |  |  | $ | 51,827 |  |  | 76.5 | % |  | 312 |  |  | $ | 495,930 |  |  | 65.9 | % |  | 11 |  |  | $ | 3,528 |  |  | 100.0 | % |  | 392 |  |  | $ | 551,285 |  |  | 66.9 | %
61-80 |  | 17 |  |  | 13,476 |  |  | 19.9 | % |  | 201 |  |  | 245,568 |  |  | 32.6 | % |  | — |  |  | — |  |  | — | % |  | 218 |  |  | 259,044 |  |  | 31.4 | %
81-100 |  | 2 |  |  | 2,426 |  |  | 3.6 | % |  | 5 |  |  | 7,441 |  |  | 1.0 | % |  | — |  |  | — |  |  | — | % |  | 7 |  |  | 9,867 |  |  | 1.2 | %
> 100 |  | — |  |  | — |  |  | — | % |  | 1 |  |  | 4,122 |  |  | 0.5 | % |  | — |  |  | — |  |  | — | % |  | 1 |  |  | 4,122 |  |  | 0.5 | %
Total |  | 88 |  |  | $ | 67,729 |  |  | 100.0 | % |  | 519 |  |  | $ | 753,061 |  |  | 100.0 | % |  | 11 |  |  | $ | 3,528 |  |  | 100.0 | % |  | 618 |  |  | $ | 824,318 |  |  | 100.0 | %

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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X
- References No definition available. + Details
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Namespace Prefix: | us-gaap_
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Balance Type: | na
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