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Loans Held for Sale | 12 Months Ended
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Dec. 31, 2023
Receivable, Held-for-Sale [Abstract] |
Loans Held for Sale | LOANS HELD FOR SALE The composition of loans held for sale as of December 31, 2023 and 2022 was as follows:
| December 31,
(amounts in thousands) | 2023 |  | 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 | 1,215 |  |  | 322 |
Personal installment loans, at lower of cost or fair value | 151,040 |  |  | 133,801 |
Other installment loans, at lower of cost or fair value | — |  |  | 189,603 |
Other installment loans, at fair value | 188,062 |  |  | — |
Total consumer loans held for sale | 340,317 |  |  | 324,233 |
Loans held for sale | $ | 340,317 |  |  | $ | 328,312 |
Total loans held for sale included non-performing loans (“NPLs”) of $0.5 million and $6.2 million as of December 31, 2023 and 2022, respectively. During the year ended December 31, 2022, Customers purchased $200.0 million of a pool of medical loans included in other installment loans and originated $127.9 million of personal installment loans, which were classified as consumer installment loans held for sale and reported at lower of cost or fair value as Customers intended to sell the loans. During the year ended December 31, 2023, Customers sold $556.7 million of consumer 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, 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 6 – INVESTMENT SECURITIES for additional information.

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