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LOANS AND ALLOWANCE FOR CREDIT LOSSES | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
LOANS AND ALLOWANCE FOR CREDIT LOSSES | LOANS AND ALLOWANCE FOR CREDIT 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, 2020 |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 2,088,308 |  |  | $ | — |  |  | $ | 2,088,308 |  |  |  |
Commercial real estate |  | 807,195 |  |  | — |  |  | 807,195 |  |  |  |
Multifamily |  | 1,289,820 |  |  | — |  |  | 1,289,820 |  |  |  |
SBA (1) |  | 273,444 |  |  | — |  |  | 273,444 |  |  |  |
Construction |  | 176,016 |  |  | — |  |  | 176,016 |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 794,721 |  |  | 435,515 |  |  | 1,230,236 |  |  |  |
Other consumer |  | 31,788 |  |  | 1,598 |  |  | 33,386 |  |  |  |
Total loans (2) |  | $ | 5,461,292 |  |  | $ | 437,113 |  |  | $ | 5,898,405 |  |  |  |
Percentage to total loans |  | 92.6 | % |  | 7.4 | % |  | 100.0 | % |  |  |
Allowance for loan losses |  |  |  |  |  | (81,030) |  |  |  |
Loans receivable, net |  |  |  |  |  | 5,817,375 |  |  |  |
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 (2) |  | $ | 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 |  |  |  |
(1)Includes 949 PPP loans totaling $210.0 million, net of unamortized loan fees totaling $1.6 million at December 31, 2020. (2)Total loans include deferred loan origination costs/(fees) and premiums/(discounts), net of $6.2 million and $14.3 million at December 31, 2020 and 2019. 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 by class of loans and origination year as of December 31, 2020:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
($ in thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Amortized Cost Basis Converted to Term |  | Total
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 99,015 |  |  | $ | 78,783 |  |  | $ | 70,248 |  |  | $ | 52,786 |  |  | $ | 44,536 |  |  | $ | 92,129 |  |  | $ | 1,572,259 |  |  | $ | 9,945 |  |  | $ | 2,019,701 |
Special mention |  | — |  |  | 928 |  |  | 2,748 |  |  | 7,986 |  |  | 1,574 |  |  | 2,271 |  |  | 1,500 |  |  | 225 |  |  | 17,232 |
Substandard |  | — |  |  | 13,937 |  |  | 6,262 |  |  | 4,618 |  |  | — |  |  | 9,264 |  |  | 12,598 |  |  | 4,696 |  |  | 51,375 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 99,015 |  |  | 93,648 |  |  | 79,258 |  |  | 65,390 |  |  | 46,110 |  |  | 103,664 |  |  | 1,586,357 |  |  | 14,866 |  |  | 2,088,308 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 75,432 |  |  | 150,731 |  |  | 192,831 |  |  | 63,144 |  |  | 91,454 |  |  | 182,756 |  |  | 2,682 |  |  | 1,582 |  |  | 760,612 |
Special mention |  | — |  |  | — |  |  | 9,452 |  |  | — |  |  | 2,518 |  |  | 14,754 |  |  | 3,761 |  |  | — |  |  | 30,485 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,098 |  |  | — |  |  | — |  |  | 16,098 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate |  | 75,432 |  |  | 150,731 |  |  | 202,283 |  |  | 63,144 |  |  | 93,972 |  |  | 213,608 |  |  | 6,443 |  |  | 1,582 |  |  | 807,195 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 239,449 |  |  | 407,532 |  |  | 275,881 |  |  | 110,105 |  |  | 97,160 |  |  | 154,841 |  |  | 27 |  |  | — |  |  | 1,284,995 |
Special mention |  | — |  |  | 2,050 |  |  | — |  |  | — |  |  | — |  |  | 803 |  |  | — |  |  | — |  |  | 2,853 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,972 |  |  | — |  |  | — |  |  | 1,972 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multifamily |  | 239,449 |  |  | 409,582 |  |  | 275,881 |  |  | 110,105 |  |  | 97,160 |  |  | 157,616 |  |  | 27 |  |  | — |  |  | 1,289,820 |
SBA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 211,962 |  |  | 14,082 |  |  | 1,260 |  |  | 3,746 |  |  | 11,087 |  |  | 18,589 |  |  | 3,111 |  |  | 1,014 |  |  | 264,851 |
Special mention |  | — |  |  | 1,768 |  |  | — |  |  | 212 |  |  | 415 |  |  | 874 |  |  | — |  |  | 6 |  |  | 3,275 |
Substandard |  | — |  |  | — |  |  | — |  |  | 1,319 |  |  | 682 |  |  | 1,855 |  |  | 226 |  |  | 755 |  |  | 4,837 |
Doubtful |  | — |  |  | — |  |  | 390 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 91 |  |  | 481 |
SBA |  | 211,962 |  |  | 15,850 |  |  | 1,650 |  |  | 5,277 |  |  | 12,184 |  |  | 21,318 |  |  | 3,337 |  |  | 1,866 |  |  | 273,444 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 41,677 |  |  | 30,387 |  |  | 45,397 |  |  | 50,024 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 167,485 |
Special mention |  | — |  |  | — |  |  | 1,537 |  |  | — |  |  | 6,994 |  |  | — |  |  | — |  |  | — |  |  | 8,531 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction |  | 41,677 |  |  | 30,387 |  |  | 46,934 |  |  | 50,024 |  |  | 6,994 |  |  | — |  |  | — |  |  | — |  |  | 176,016 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 149,382 |  |  | 140,129 |  |  | 271,667 |  |  | 161,332 |  |  | 237,285 |  |  | 227,711 |  |  | 15,252 |  |  | — |  |  | 1,202,758 |
Special mention |  | — |  |  | — |  |  | 1,837 |  |  | 688 |  |  | 4,868 |  |  | 4,460 |  |  | — |  |  | — |  |  | 11,853 |
Substandard |  | — |  |  | 157 |  |  | 491 |  |  | 1,079 |  |  | 4,978 |  |  | 8,920 |  |  | — |  |  | — |  |  | 15,625 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Single family residential mortgage |  | 149,382 |  |  | 140,286 |  |  | 273,995 |  |  | 163,099 |  |  | 247,131 |  |  | 241,091 |  |  | 15,252 |  |  | — |  |  | 1,230,236 |
Other consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 38 |  |  | — |  |  | 47 |  |  | — |  |  | — |  |  | 1,876 |  |  | 27,644 |  |  | 2,218 |  |  | 31,823 |
Special mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30 |  |  | 1,185 |  |  | — |  |  | 1,215 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 274 |  |  | 74 |  |  | 348 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other consumer |  | 38 |  |  | — |  |  | 47 |  |  | — |  |  | — |  |  | 1,906 |  |  | 29,103 |  |  | 2,292 |  |  | 33,386 |
Total loans |  | $ | 816,955 |  |  | $ | 840,484 |  |  | $ | 880,048 |  |  | $ | 457,039 |  |  | $ | 503,551 |  |  | $ | 739,203 |  |  | $ | 1,640,519 |  |  | $ | 20,606 |  |  | $ | 5,898,405 |
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
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 |  | 1,559,253 |  |  | 10,735 |  |  | 20,269 |  |  | 517 |  |  |  |  | 1,590,774 |
Other consumer |  | 53,331 |  |  | 346 |  |  | 488 |  |  | — |  |  |  |  | 54,165 |
Total loans |  | $ | 5,782,383 |  |  | $ | 67,531 |  |  | $ | 99,836 |  |  | $ | 2,135 |  |  |  |  | $ | 5,951,885 |
Past Due Loans The following table presents the aging of the recorded investment in past due loans as of December 31, 2020, excluding accrued interest receivable (which is not considered to be material), by class of loans:
|  | December 31, 2020
($ 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 |  | $ | 4,200 |  |  | $ | 641 |  |  | $ | 6,548 |  |  | $ | 11,389 |  |  | $ | 424,126 |  |  | $ | 435,515 |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,598 |  |  | 1,598 |
Total NTM loans |  | 4,200 |  |  | 641 |  |  | 6,548 |  |  | 11,389 |  |  | 425,724 |  |  | 437,113 |
Traditional loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 67 |  |  | — |  |  | 4,284 |  |  | 4,351 |  |  | 2,083,957 |  |  | 2,088,308 |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | — |  |  | 807,195 |  |  | 807,195 |
Multifamily |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,289,820 |  |  | 1,289,820 |
SBA |  | 354 |  |  | 626 |  |  | 3,062 |  |  | 4,042 |  |  | 269,402 |  |  | 273,444 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 176,016 |  |  | 176,016 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 6,836 |  |  | 980 |  |  | 3,742 |  |  | 11,558 |  |  | 783,163 |  |  | 794,721 |
Other consumer |  | 216 |  |  | 61 |  |  | — |  |  | 277 |  |  | 31,511 |  |  | 31,788 |
Total traditional loans |  | 7,473 |  |  | 1,667 |  |  | 11,088 |  |  | 20,228 |  |  | 5,441,064 |  |  | 5,461,292 |
Total loans |  | $ | 11,673 |  |  | $ | 2,308 |  |  | $ | 17,636 |  |  | $ | 31,617 |  |  | $ | 5,866,788 |  |  | $ | 5,898,405 |
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 |
Nonaccrual Loans The following table presents the composition of nonaccrual loans as of the dates indicated:
| December 31, 2020 |  | December 31, 2019
($ in thousands) | NTM Loans |  | Traditional Loans |  | Total Nonaccrual Loans |  | Nonaccrual Loans with no ACL |  | NTM Loans |  | Traditional Loans |  | Total Nonaccrual Loans |  | Nonaccrual Loans with no ACL
Nonaccrual loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | — |  |  | $ | 13,821 |  |  | $ | 13,821 |  |  | $ | 13,088 |  |  | $ | — |  |  | $ | 19,114 |  |  | $ | 19,114 |  |  | $ | 337 |
Commercial real estate | — |  |  | 4,654 |  |  | 4,654 |  |  | 4,654 |  |  | — |  |  | — |  |  | — |  |  | — |
SBA | — |  |  | 3,749 |  |  | 3,749 |  |  | 648 |  |  | — |  |  | 5,230 |  |  | 5,230 |  |  | 1,474 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage | 8,697 |  |  | 4,822 |  |  | 13,519 |  |  | 13,519 |  |  | 13,019 |  |  | 5,606 |  |  | 18,625 |  |  | 14,373 |
Other consumer | — |  |  | 157 |  |  | 157 |  |  | 157 |  |  | — |  |  | 385 |  |  | 385 |  |  | 380 |
Total nonaccrual loans | $ | 8,697 |  |  | $ | 27,203 |  |  | $ | 35,900 |  |  | $ | 32,066 |  |  | $ | 13,019 |  |  | $ | 30,335 |  |  | $ | 43,354 |  |  | $ | 16,564 |
At December 31, 2020 and 2019, $728 thousand and zero of loans were past due 90 days or more and still accruing. Loans in Process of Foreclosure At December 31, 2020 and 2019, consumer mortgage loans of zero and $15.7 million were secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Allowance for Credit Losses Our ACL methodology and resulting provision continues to be impacted by the current economic uncertainty and volatility caused by the COVID-19 pandemic. We adopted CECL on January 1, 2020 and in calculating our ACL under this methodology we use a nationally recognized, third-party model that includes many assumptions based on historical and peer loss data, current loan portfolio risk profile including risk ratings, and economic forecasts including macroeconomic variables (MEVs) released by our model provider during December 2020 (i.e.GDP growth rates, unemployment rates, etc.). Our Company-specific economic view recognizes that the foreseeable future continues to be uncertain with respect to the rollout of the approved vaccines for COVID-19; the lack of clarity regarding the impact of the most recent government stimulus; the continued unknown impact of the COVID-19 pandemic on the economy and certain industry segments; and the unknown benefit from Federal Reserve and other government actions. Accordingly, the ACL level and resulting provision reflect these uncertainties. The ACL also incorporated qualitative factors to account for certain loan portfolio characteristics that are not taken into consideration by the third-party model including underlying strengths and weaknesses in the loan portfolio. As is the case with all estimates, the ACL is expected to be impacted in future periods by economic volatility, changing economic forecasts, underlying model assumptions, and asset quality metrics, all of which may be better than or worse than current estimates. The following table presents a summary of activity in the ACL for the periods indicated:
|  | Year Ended December 31,
($ in thousands) |  | 2020 |  | 2019 |  | 2018
|  | Allowance for Loan Losses |  | Reserve for Unfunded Loan Commit-ments |  | Allowance for Credit Losses |  | Allowance for Loan Losses |  | Reserve for Unfunded Loan Commit-ments |  | Allowance for Credit Losses |  | Allowance for Loan Losses |  | Reserve for Unfunded Loan Commit-ments |  | Allowance for Credit Losses
Balance at beginning of year |  | $ | 57,649 |  |  | $ | 4,064 |  |  | $ | 61,713 |  |  | $ | 62,192 |  |  | $ | 4,622 |  |  | $ | 66,814 |  |  | $ | 49,333 |  |  | $ | 3,716 |  |  | $ | 53,049 |
Impact of adopting ASU 2016-13 |  | 7,609 |  |  | (1,226) |  |  | 6,383 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loans charged off |  | (15,417) |  |  | — |  |  | (15,417) |  |  | (41,766) |  |  | — |  |  | (41,766) |  |  | (18,499) |  |  | — |  |  | (18,499) |
Recoveries of loans previously charged off |  | 1,815 |  |  | — |  |  | 1,815 |  |  | 836 |  |  | — |  |  | 836 |  |  | 1,143 |  |  | — |  |  | 1,143 |
Net charge-offs |  | (13,602) |  |  | — |  |  | (13,602) |  |  | (40,930) |  |  | — |  |  | (40,930) |  |  | (17,356) |  |  | — |  |  | (17,356) |
Provision for (reversal of) credit losses |  | 29,374 |  |  | 345 |  |  | 29,719 |  |  | 36,387 |  |  | (558) |  |  | 35,829 |  |  | 30,215 |  |  | 906 |  |  | 31,121 |
Balance at end of year |  | $ | 81,030 |  |  | $ | 3,183 |  |  | $ | 84,213 |  |  | $ | 57,649 |  |  | $ | 4,064 |  |  | $ | 61,713 |  |  | $ | 62,192 |  |  | $ | 4,622 |  |  | $ | 66,814 |
During 2020, a $16.1 million legacy shared national credit was resolved resulting in a charge-off of $10.7 million. During 2019, we recorded 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. In connection with the $35.1 million charge-off, on October 22, 2019, the Bank filed a complaint in the 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. On October 2, 2020, the case was re-filed in the Superior Court of the State of California, County of San Diego (Case 37-2020-00034947) asserting claims for Fraud, Aiding and Abetting Fraud, Conspiracy to Defraud, Negligent Misrepresentation, Breach of Fiduciary Duty, Negligence, Money Had And Received, and Conversion. On February 9, 2021, an Amended Complaint was filed asserting claims for Fraud, Aiding and Abetting Fraud, Conspiracy to Defraud, Negligent Misrepresentation, Breach of Fiduciary Duty, Negligence, Money Had And Received, Conversion, Violation of Penal Code Section 496, Violation of Corporations Code Section 25504.1, and Violation of Business & Professions Code Section 17200. 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 third quarter of 2019, we undertook an extensive collateral review of all commercial lending relationships $5.0 million and above not secured by real estate, consisting of 53 loans representing $536.0 million in commitments. The collateral review focused on security and collateral documentation and confirmation of the Bank's collateral interest. The review was performed within the Bank's Internal Audit division and the work was validated by an independent third party. Our review and outside validation did not identify any other instances of apparent fraud for the credits reviewed or concerns over the existence of collateral held by the Bank or on our behalf at third parties; however, there are no assurances that our internal review and third party validation will be sufficient to identify all such issues. During 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 precondition 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 commenced litigation against the borrower and other parties. The Bank recently secured orders from the court granting summary adjudication against the borrower on the Bank's fraud, contract, and contract-related claims, and the Bank previously resolved its claims against other parties. Once judgment is entered, the litigation will conclude and the Bank may then pursue available means of collection against the borrower, if any. At the same time, the Bank is continuing to pursue other available sources of collection and other means of mitigating the loss; however, no assurance can be given that we will be successful in this regard. Accrued interest receivable on loans receivable, net totaled $24.7 million and $18.8 million at December 31, 2020 and 2019, and is included within other assets in the accompanying consolidated statements of financial condition. Accrued interest receivable is excluded from the estimate of expected credit losses. The following table presents the activity and balance in the ALL as of or for the year ended December 31, 2020:
($ in thousands) |  | Commercial and Industrial |  | Commercial Real Estate |  | Multifamily |  | SBA |  | Construction |  |  |  | Single Family Residential Mortgage |  | Other Consumer |  |  |  | Total
ALL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2019 |  | $ | 22,353 |  |  | $ | 5,941 |  |  | $ | 11,405 |  |  | $ | 3,120 |  |  | $ | 3,906 |  |  |  |  | $ | 10,486 |  |  | $ | 438 |  |  |  |  | $ | 57,649 |
Impact of adopting ASU 2016-13 |  | 662 |  |  | 4,847 |  |  | 1,809 |  |  | 388 |  |  | 103 |  |  |  |  | (420) |  |  | 220 |  |  |  |  | 7,609 |
Charge-offs |  | (13,588) |  |  | — |  |  | — |  |  | (1,083) |  |  | — |  |  |  |  | (742) |  |  | (4) |  |  |  |  | (15,417) |
Recoveries |  | 604 |  |  | — |  |  | — |  |  | 328 |  |  | — |  |  |  |  | 664 |  |  | 219 |  |  |  |  | 1,815 |
Net (charge-offs) recoveries |  | (12,984) |  |  | — |  |  | — |  |  | (755) |  |  | — |  |  |  |  | (78) |  |  | 215 |  |  |  |  | (13,602) |
Provision (reversal of provision) |  | 10,577 |  |  | 8,286 |  |  | 9,298 |  |  | 392 |  |  | 1,840 |  |  |  |  | (797) |  |  | (222) |  |  |  |  | 29,374 |
Balance at December 31, 2020 |  | $ | 20,608 |  |  | $ | 19,074 |  |  | $ | 22,512 |  |  | $ | 3,145 |  |  | $ | 5,849 |  |  |  |  | $ | 9,191 |  |  | $ | 651 |  |  |  |  | $ | 81,030 |
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) recoveries |  | (36,649) |  |  | — |  |  | (6) |  |  | (1,904) |  |  | (371) |  |  | 12 |  |  | (2,219) |  |  | 207 |  |  |  |  | (40,930) |
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 |
Collateral Dependent Loans A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Collateral dependent loans are evaluated individually and the ACL is determined based on the amount by which amortized costs exceed the estimated fair value of the collateral, adjusted for estimated selling costs. Collateral dependent loans consisted of the following as of December 31, 2020:
|  | December 31, 2020
|  | Real Estate |  |  |  |
($ in thousands) |  | Commercial |  | Residential |  | Business Assets |  | Total
Commercial: |  |  |  |  |  |  |  |
Commercial and industrial |  | 5,492 |  |  | — |  |  | 4,965 |  |  | 10,457 |
Commercial real estate |  | 2,644 |  |  | 2,010 |  |  | — |  |  | 4,654 |
Multifamily |  | — |  |  | — |  |  | — |  |  | — |
SBA |  | 349 |  |  | 497 |  |  | 2,750 |  |  | 3,596 |
Construction |  | — |  |  | — |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | 17,820 |  |  | — |  |  | 17,820 |
Other consumer |  | — |  |  | 157 |  |  | — |  |  | 157 |
Total loans |  | $ | 8,485 |  |  | $ | 20,484 |  |  | $ | 7,715 |  |  | $ | 36,684 |
Troubled Debt Restructurings (TDRs) Troubled debt restructured loans consisted of the following as of the dates indicated:
|  | December 31,
|  | 2020 |  | 2019
($ in thousands) |  | NTM Loans |  | Traditional Loans |  | Total |  | NTM Loans |  | Traditional Loans |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | 3,884 |  |  | $ | 3,884 |  |  | $ | — |  |  | $ | 16,245 |  |  | $ | 16,245 |
SBA |  | — |  |  | 265 |  |  | 265 |  |  | — |  |  | 266 |  |  | 266 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 2,631 |  |  | 2,217 |  |  | 4,848 |  |  | 2,638 |  |  | 2,394 |  |  | 5,032 |
Other consumer |  | — |  |  | — |  |  | — |  |  | 294 |  |  | — |  |  | 294 |
Total |  | $ | 2,631 |  |  | $ | 6,366 |  |  | $ | 8,997 |  |  | $ | 2,932 |  |  | $ | 18,905 |  |  | $ | 21,837 |
We had commitments to lend to customers with outstanding loans that were classified as TDRs of $63 thousand and $135 thousand as of December 31, 2020 and 2019. Accruing TDRs were $4.7 million and nonaccrual TDRs were $4.3 million at December 31, 2020, compared to accruing TDRs of $6.6 million and nonaccrual TDRs of $15.2 million at December 31, 2019. The decrease in TDRs during the year ended December 31, 2020 was primarily due to one commercial and industrial relationship. The following table summarizes the pre-modification and post-modification balances of the new TDRs for the periods indicated:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
($ 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 |  | 1 |  |  | $ | 5,000 |  |  | $ | 5,000 |  |  | 12 |  |  | $ | 18,512 |  |  | $ | 18,193 |  |  | 2 |  |  | $ | 171 |  |  | $ | 163 |
SBA |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 3,214 |  |  | 869 |  |  | 1 |  |  | 187 |  |  | 187 |
Total |  | 1 |  |  | $ | 5,000 |  |  | $ | 5,000 |  |  | 14 |  |  | $ | 21,726 |  |  | $ | 19,062 |  |  | 3 |  |  | $ | 358 |  |  | $ | 350 |
For the year ended December 31, 2020, there was one SBA loan that was modified as a TDR during the past 12 months that had a subsequent payment default. For the years ended December 31, 2019, and 2018, there were no loans that were modified as TDRs during the past 12 months that had a subsequent payment default. 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 |  |  |  | Extension of Maturity(1) |  | Other |  | Total
($ in thousands) |  | Count |  | Amount |  | Count |  | Amount |  |  |  |  |  | Count |  | Amount |  | Count |  | Amount |  | Count |  | Amount
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  |  |  |  |  | 1 |  |  | $ | 5,000 |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 5,000 |
Total |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  |  |  |  |  | 1 |  |  | $ | 5,000 |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 5,000 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 12 |  |  | $ | 18,193 |  |  | — |  |  | $ | — |  |  |  |  |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 12 |  |  | $ | 18,193 |
SBA |  | 2 |  |  | 869 |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 869 |
Total |  | 14 |  |  | $ | 19,062 |  |  | — |  |  | $ | — |  |  |  |  |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 14 |  |  | $ | 19,062 |
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 |
(1)Excludes loans in forbearance or deferment that received an extension of maturity through the CARES Act during the year ended December 31, 2020. Purchases and Sales The following table presents loans purchased and/or sold by portfolio segment, excluding loans held-for-sale for the periods indicated:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
($ in thousands) |  | Purchases |  | Sales |  | Purchases |  | Sales |  | Purchases |  | Sales
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Multifamily |  | $ | 120,900 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Construction |  | 14,750 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | 149,687 |  |  | — |  |  | — |  |  | — |  |  | 59,481 |  |  | — |
Total |  | $ | 285,337 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 59,481 |  |  | $ | — |
Loan purchases during the years ended December 31, 2020, 2019, and 2018 were made at a net premium of $4.7 million, zero and $2.3 million. The following table presents loans transferred from (to) loans held-for-sale by portfolio segment for the periods indicated:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
($ 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) |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | (573) |  |  | — |  |  | — |
Multifamily |  | — |  |  | — |  |  | — |  |  | (752,087) |  |  | — |  |  | (81,449) |
SBA |  | — |  |  | — |  |  | — |  |  | (559) |  |  | — |  |  | — |
Construction |  | — |  |  | — |  |  | — |  |  | (2,519) |  |  | — |  |  | (434) |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Single family residential mortgage |  | — |  |  | — |  |  | — |  |  | (383,859) |  |  | — |  |  | (289,617) |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,362) |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,139,597) |  |  | $ | — |  |  | $ | (376,995) |
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, 2020 and 2019, the NTM loans totaled $437.1 million, or 7.4% of total loans, and $600.7 million, or 10.1% of total loans, respectively. The total NTM portfolio decreased by $163.5 million, or 27.2%, during the year ended December 31, 2020. The following table presents the composition of the NTM portfolio as of the dates indicated:
|  | December 31,
|  | 2020 |  | 2019
($ in thousands) |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent
Green Loans (HELOC) - first liens |  | 48 |  |  | $ | 31,587 |  |  | 7.2 | % |  | 69 |  |  | $ | 49,959 |  |  | 8.3 | %
Interest Only - first liens |  | 283 |  |  | 401,640 |  |  | 91.9 | % |  | 376 |  |  | 545,371 |  |  | 90.8 | %
Negative amortization |  | 8 |  |  | 2,288 |  |  | 0.5 | % |  | 9 |  |  | 3,027 |  |  | 0.5 | %
Total NTM - first liens |  | 339 |  |  | 435,515 |  |  | 99.6 | % |  | 454 |  |  | 598,357 |  |  | 99.6 | %
Green Loans (HELOC) - second liens |  | 5 |  |  | 1,598 |  |  | 0.4 | % |  | 7 |  |  | 2,299 |  |  | 0.4 | %
Total NTM - second liens |  | 5 |  |  | 1,598 |  |  | 0.4 | % |  | 7 |  |  | 2,299 |  |  | 0.4 | %
Total NTM loans |  | 344 |  |  | $ | 437,113 |  |  | 100.0 | % |  | 461 |  |  | $ | 600,656 |  |  | 100.0 | %
Total loans |  |  |  | $ | 5,898,405 |  |  |  |  |  |  | $ | 5,951,885 |  |  |
Percentage to total loans |  |  |  | 7.4 | % |  |  |  |  |  | 10.1 | % |  |
Green Loans Green Loans are SFR 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, 2020 and 2019, Green Loans totaled $33.2 million and $52.3 million. At December 31, 2020 and 2019, $4.0 million and $1.5 million of our Green Loans were nonperforming. 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 SFR first mortgage loans with payment features that allow interest only payments in initial periods before converting to a fully amortizing loan. At December 31, 2020 and 2019, Interest Only loans totaled $401.6 million and $545.4 million. At December 31, 2020 and 2019, $4.7 million and $11.5 million of the Interest Only loans were nonperforming. Loans with the Potential for Negative Amortization Negative amortization loans totaled $2.3 million and $3.0 million at December 31, 2020 and 2019. We discontinued origination of negative amortization loans in 2007. At December 31, 2020 and 2019, none of the loans with the potential for negative amortization were nonperforming. 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 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 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, based on the loan agreement and loan covenants of the particular loan, as well as applicable rules and regulations, we 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, 2020 by FICO scores that were obtained during the quarter ended December 31, 2020, comparing to the FICO scores for those same loans that were obtained during the quarter ended December 31, 2019:
|  | By FICO Scores Obtained During the Quarter Ended December 31, 2020 |  | By FICO Scores Obtained During the Quarter Ended December 31, 2019 |  | Change
($ in thousands) |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent |  | Count |  | Amount |  | Percent
FICO score |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ |  | 11 |  |  | $ | 5,773 |  |  | 18.3 | % |  | 12 |  |  | $ | 3,130 |  |  | 9.9 | % |  | (1) |  |  | $ | 2,643 |  |  | 84.4 | %
700-799 |  | 24 |  |  | 16,472 |  |  | 52.1 | % |  | 24 |  |  | 17,408 |  |  | 55.1 | % |  | — |  |  | (936) |  |  | (5.4) | %
600-699 |  | 9 |  |  | 7,717 |  |  | 24.4 | % |  | 6 |  |  | 7,959 |  |  | 25.2 | % |  | 3 |  |  | (242) |  |  | (3.0) | %
<600 |  | 2 |  |  | 1,097 |  |  | 3.5 | % |  | 4 |  |  | 2,562 |  |  | 8.1 | % |  | (2) |  |  | (1,465) |  |  | (57.2) | %
No FICO score |  | 2 |  |  | 528 |  |  | 1.7 | % |  | 2 |  |  | 528 |  |  | 1.7 | % |  | — |  |  | — |  |  | — | %
Total |  | 48 |  |  | $ | 31,587 |  |  | 100.0 | % |  | 48 |  |  | $ | 31,587 |  |  | 100.0 | % |  | — |  |  | $ | — |  |  | — | %
The current loan to 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 SFR 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, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
< 61 |  | 42 |  |  | $ | 25,946 |  |  | 82.1 | % |  | 190 |  |  | $ | 271,108 |  |  | 67.5 | % |  | 8 |  |  | $ | 2,288 |  |  | 100.0 | % |  | 240 |  |  | $ | 299,342 |  |  | 68.7 | %
61-80 |  | 6 |  |  | 5,641 |  |  | 17.9 | % |  | 91 |  |  | 126,281 |  |  | 31.4 | % |  | — |  |  | — |  |  | — | % |  | 97 |  |  | 131,922 |  |  | 30.3 | %
81-100 |  | — |  |  | — |  |  | — | % |  | 2 |  |  | 4,251 |  |  | 1.1 | % |  | — |  |  | — |  |  | — | % |  | 2 |  |  | 4,251 |  |  | 1.0 | %
> 100 |  | — |  |  | — |  |  | — | % |  | — |  |  | — |  |  | — | % |  | — |  |  | — |  |  | — | % |  | — |  |  | — |  |  | — | %
Total |  | 48 |  |  | $ | 31,587 |  |  | 100.0 | % |  | 283 |  |  | $ | 401,640 |  |  | 100.0 | % |  | 8 |  |  | $ | 2,288 |  |  | 100.0 | % |  | 339 |  |  | $ | 435,515 |  |  | 100.0 | %
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 | %

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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- References No definition available. + Details
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