XML 46 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans Held for Sale (Tables)
 3 Months Ended
Mar. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of Loans Held for Sale Fair Value
Loans Held for Sale - Fair Value
Three Months Ended March 31,
2018
 
2017
Beginning balance
$
214,262

 
$
284,632

Originations and purchases
205,994

 
840,999

Proceeds from sales
(293,063
)
 
(817,033
)
Principal collections
(804
)
 
(744
)
Transfers from Loans held for investment, at fair value
184

 
—

Gain on sale of loans
4,652

 
(396
)
Increase (decrease) in fair value of loans
(3,871
)
 
5,628

Other
(1,506
)
 
472

Ending balance (1)
$
125,848

 
$
313,558


(1)
At March 31, 2018 and 2017, the balances include $3.8 million and $10.5 million, respectively, of fair value adjustments.
Schedule of Loans Held for Sale at Lower Cost or Fair Value, Activity
Loans Held for Sale - Lower of Cost or Fair Value
Three Months Ended March 31,
2018
 
2017
Beginning balance
$
24,096

 
$
29,374

Purchases
152,084

 
396,536

Proceeds from sales
(86,421
)
 
(354,285
)
Principal collections
(3,446
)
 
(1,850
)
Transfers to Receivables, net
(35,666
)
 
(48,752
)
Transfers to Other assets
(1,195
)
 
(55
)
Gain on sale of loans
692

 
(998
)
(Increase) decrease in valuation allowance
(1,185
)
 
4,429

Other
3,271

 
1,196

Ending balance (1)
$
52,230

 
$
25,595


(1)
At March 31, 2018 and 2017, the balances include $46.1 million and $20.0 million, respectively, of loans that we repurchased from Ginnie Mae guaranteed securitizations pursuant to Ginnie Mae servicing guidelines. We may repurchase loans that have been modified, to facilitate loss reduction strategies, or as otherwise obligated as a Ginnie Mae servicer. Repurchased loans may be modified or otherwise remediated through loss mitigation activities, may be sold to a third party, or are reclassified to receivables.
Schedule of Gains on Loans Held for Sale, Net

Gain on Loans Held for Sale, Net
Three Months Ended March 31,
2018
 
2017
Gain on sales of loans, net
 
 
 
MSRs retained on transfers of forward loans
$
2,378

 
$
8,126

Fair value gains related to transfers of reverse mortgage loans, net
10,968

 
7,638

Gain (loss) on sale of repurchased Ginnie Mae loans
692

 
(998
)
Other, net
6,015

 
2,146

 
20,053

 
16,912

Change in fair value of IRLCs
1,377

 
1,060

Change in fair value of loans held for sale
(3,924
)
 
7,666

Gain (loss) on economic hedge instruments
2,398

 
(2,514
)
Other
(104
)
 
(180
)
 
$
19,800

 
$
22,944
Valuation Allowance for Loans Held for Sale [Member]  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of Changes in Allowance For Losses
Valuation Allowance - Loans Held for Sale at Lower of Cost or Fair Value
Three Months Ended March 31,
2018
 
2017
Beginning balance
$
7,318

 
$
10,064

Provision
853

 
364

Transfer from Liability for indemnification obligations (Other liabilities)
719

 
255

Sales of loans
(409
)
 
(5,045
)
Other
22

 
(3
)
Ending balance
$
8,503

 
$
5,635