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Loans Held for Sale (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30:
 
2014
 
2013
Beginning balance
$
503,753

 
$
426,480

Originations and purchases
3,923,870

 
5,988,501

Proceeds from sales
(4,010,644
)
 
(6,033,785
)
Transfers to loans held for investment - reverse mortgages
(110,874
)
 
—

Gain (loss) on sale of loans
39,486

 
(46,962
)
Other
(9,641
)
 
868

Ending balance
$
335,950

 
$
335,102
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 nine months ended September 30:
 
2014
 
2013
Beginning balance
$
62,907

 
$
82,866

Purchases
2,083,282

 
1,144,853

Proceeds from sales
(1,744,273
)
 
(654,916
)
Principal payments
(248,552
)
 
(317,528
)
Transfers to accounts receivable
(96,257
)
 
(190,185
)
Transfers to real estate owned
(4,575
)
 
(2,838
)
Gain on sale of loans
32,471

 
20,336

Increase in valuation allowance
(16,282
)
 
(6,510
)
Other
3,216

 
10,675

Ending balance
$
71,937

 
$
86,753
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 nine months ended September 30:
 
Three Months
 
 Nine Months
 
2014
 
2013
 
2014
 
2013
Gain on sales of loans
$
42,185

 
$
4,622

 
$
145,455

 
$
36,156

Change in fair value of IRLCs
(4,188
)
 
18,912

 
(2,315
)
 
5,918

Change in fair value of loans held for sale
(9,348
)
 
14,362

 
(97
)
 
1,452

Gain (loss) on economic hedge instruments
(1,145
)
 
(9,408
)
 
(32,183
)
 
30,989

Other
(286
)
 
(226
)
 
(819
)
 
(1,603
)
 
$
27,218

 
$
28,262

 
$
110,041

 
$
72,912