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Loans Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Schedule of Loans Held for Sale Fair Value
The following table summarizes the activity in the balance of Loans held for sale, at fair value, during the six months ended June 30:
 
2014
 
2013
Beginning balance
$
503,753

 
$
426,480

Originations and purchases
2,636,800

 
4,511,255

Proceeds from sales
(2,649,366
)
 
(4,526,875
)
Transfers to loans held for investment - reverse mortgages
(110,874
)
 
—

Gain (loss) on sale of loans
29,735

 
(37,794
)
Other
287

 
(11,922
)
Ending balance
$
410,335

 
$
361,144
Schedule of Loans Held For Sale At Lower Cost Or Fair Value, Activity
The following table summarizes the activity in the balance of Loans held for sale, at lower of cost or fair value, during the six months ended June 30:
 
2014
 
2013
Beginning balance
$
62,907

 
$
82,866

Purchases
1,864,931

 
567,437

Proceeds from sales
(1,574,715
)
 
(356,060
)
Principal payments
(191,870
)
 
(212,936
)
Transfers to accounts receivable
(79,808
)
 
(60,441
)
Gain on sale of loans
22,570

 
16,169

Increase in valuation allowance
(14,380
)
 
(2,277
)
Other
1,873

 
(771
)
Ending balance
$
91,508

 
$
33,987
Schedule of Gains on Loans Held for Sale
The following table summarizes the activity in Gain on loans held for sale, net, during the three and six months ended June 30:
 
Three Months
 
Six Months
 
2014
 
2013
 
2014
 
2013
Gain on sales of loans
$
48,539

 
$
25,026

 
$
103,501

 
$
25,368

Change in fair value of IRLCs
887

 
(11,757
)
 
1,874

 
(12,994
)
Change in fair value of loans held for sale
7,184

 
(5,216
)
 
9,015

 
(5,656
)
Gain (loss) on economic hedge instruments
(17,428
)
 
28,814

 
(31,038
)
 
39,003

Other
(346
)
 
(389
)
 
(529
)
 
(1,071
)
 
$
38,836

 
$
36,478

 
$
82,823

 
$
44,650