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Loans Held for Sale | 12 Months Ended
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Dec. 31, 2020
Receivables Held-for-sale [Abstract] |
Loans Held for Sale | LOANS HELD FOR SALE The composition of loans held for sale as of December 31, 2020 and 2019 was as follows:
| December 31,
(amounts in thousands) | 2020 |  | 2019
Commercial loans: |  |  |
Multi-family loans, at lower of cost or fair value | $ | — |  |  | $ | 482,873 |
Commercial and industrial loans, at lower of cost or fair value | 55,683 |  |  | $ | — |
Commercial real estate non-owner occupied loans, at lower of cost or fair value | 17,251 |  |  | $ | — |
Total commercial loans held for sale | 72,934 |  |  | 482,873 |
Consumer loans: |  |  |
Home equity conversion mortgages, at lower of cost or fair value | 643 |  |  | 1,325 |
Residential mortgage loans, at fair value | 5,509 |  |  | 2,130 |
Total consumer loans held for sale | 6,152 |  |  | 3,455 |
Loans held for sale | $ | 79,086 |  |  | $ | 486,328 |
On September 30, 2020, Customers Bank transferred $401.1 million of multi-family loans from loans held for sale to loans and leases receivable (held for investment) at their carrying value, which approximated their fair value at the time of transfer, because it no longer had the intent to sell these loans. Customers Bank had previously transferred $499.8 million of multi-family loans from loans and leases receivable (held for investment) to loans held for sale on September 30, 2019. Customers Bank transferred these loans at their carrying value, which was lower than the estimated fair value at the time of transfer. At December 31, 2019, the carrying value of these loans approximates their fair value. Total loans held for sale as of December 31, 2020 and 2019 included non-performing loans ("NPLs") of $18.5 million and $1.3 million, respectively.

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