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Loans Held for Sale | 9 Months Ended
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Sep. 30, 2023
Receivable, Held-for-Sale [Abstract] |
Loans Held for Sale | LOANS HELD FOR SALE The composition of loans held for sale as of September 30, 2023 and December 31, 2022 was as follows:
(amounts in thousands) | September 30, 2023 |  | December 31, 2022
Commercial loans: |  |  |
Multifamily loans, at lower of cost or fair value | $ | — |  |  | $ | 4,079 |
Total commercial loans held for sale | — |  |  | 4,079 |
Consumer loans: |  |  |
Home equity conversion mortgages, at lower of cost or fair value | — |  |  | 507 |
Residential mortgage loans, at fair value | 1,005 |  |  | 322 |
Personal installment loans, at lower of cost or fair value | 124,848 |  |  | 133,801 |
Other installment loans, at lower of cost or fair value | — |  |  | 189,603 |
Other installment loans, at fair value | 24,515 |  |  | — |
Total consumer loans held for sale | 150,368 |  |  | 324,233 |
Loans held for sale | $ | 150,368 |  |  | $ | 328,312 |
Total loans held for sale included NPLs of $0.2 million and $6.2 million as of September 30, 2023 and December 31, 2022, respectively. On June 30, 2023, Customers sold $556.7 million of personal and other installment loans that were classified as held for sale, inclusive of $154.0 million of other installment loans transferred from held for investment to held for sale during the three months ended June 30, 2023, accrued interest and unamortized deferred loan origination costs, to two third-party sponsored VIEs. Customers provided financing to the purchasers for a portion of the sales price in the form of $436.8 million of asset-backed securities while $115.1 million of the remaining sales proceeds were paid in cash. Refer to NOTE 5 – INVESTMENT SECURITIES for additional information.

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