Wells Fargo Real Estate Investment (WFE) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Wells Fargo Real Estate Investment Corp.
Entity Central Index Key	1,616,093
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		12,900,000

Statement of Income (Unaudited)

Statement of Income (Unaudited) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares		Sep. 30, 2014USD ($)$ / sharesshares
Interest income		$ 171,567	$ 174,020	$ 506,412		$ 521,748
Interest expense		377	277	644		1,037
Net interest income		171,190	173,743	505,768		520,711
Provision (reversal of provision) for credit losses		(23,023)	(3,548)	(23,914)		4,380
Net interest income after provision for credit losses		194,213	177,291	529,682		516,331
Noninterest income
Fees and other		1,678	189	2,274		541
Total noninterest income		1,678	189	2,274		541
Noninterest expense
Loan servicing costs		9,080	8,172	26,622		23,752
Management fees		2,871	821	8,328		2,280
Foreclosed assets		3,772	2,591	8,676		7,293
Other		258	464	808		618
Total noninterest expense		15,981	12,048	44,434		33,943
Net income		179,910	165,432	487,522		482,929
Comprehensive income		179,910	165,432	487,522		482,929
Dividends on preferred stock		4,397	15	13,191		43
Net income applicable to common stock		$ 175,513	$ 165,417	$ 474,331		$ 482,886
Per common share information (1)
Earnings per common share (in dollars per share) | $ / shares		$ 13.61	$ 12.82	$ 36.77	[1]	$ 37.43	[1]
Diluted earnings per common share (in dollars per share) | $ / shares		13.61	12.82	36.77	[1]	37.43	[1]
Dividends declared per common share (in dollars per share) | $ / shares	[1]	$ 11.25	$ 11.63	$ 32.95		$ 34.5
Average common shares outstanding (in shares) | shares		12,900,000	12,900,000	12,900,000		12,900,000
Diluted average common shares outstanding (in shares) | shares		12,900,000	12,900,000	12,900,000		12,900,000
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio				20,000
Common shares issued for each common share outstanding | shares				19,999
[1]	All common share and per share disclosures reflect the 20,000-for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015.

Statement of Income (Parentheti

Statement of Income (Parenthetical) (Unaudited) - Common Stock [Member]	9 Months Ended
	Sep. 30, 2015shares
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding	19,999

Balance Sheet

Balance Sheet - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 0	$ 0
Loans, net of unearned income	13,151,348	12,949,277
Allowance for loan losses	(130,839)	(184,437)
Net loans	13,020,509	12,764,840
Accounts receivable - affiliates, net	100,306	54,424
Other assets	38,244	40,141
Total assets	13,159,059	12,859,405
Liabilities
Line of credit with Bank	749,577	496,692
Other liabilities	3,634	6,196
Total liabilities	753,211	502,888
Stockholders’ Equity
Preferred stock	110	110
Common stock – $0.01 par value, authorized 100,000,000 shares; issued and outstanding 12,900,000 shares (1)	129	129
Additional paid-in capital (1)	12,550,822	12,550,822
Retained earnings (deficit)	(145,213)	(194,544)
Total stockholders’ equity	12,405,848	12,356,517
Total liabilities and stockholders’ equity	$ 13,159,059	$ 12,859,405

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical)	9 Months Ended
	Sep. 30, 2015$ / sharesshares	Dec. 31, 2014$ / sharesshares
Stockholders’ Equity
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common Stock, Shares, Outstanding	12,900,000	12,900,000
Common stock, shares issued	12,900,000	12,900,000
Shares, Issued	23,900,667	23,900,667
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding	19,999

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Retained Earnings (Deficit) [Member]Series A Preferred Stock [Member]	Retained Earnings (Deficit) [Member]Series B Preferred Stock [Member]
Beginning balance at Dec. 31, 2013	$ 12,056,631			$ 0	$ 129	$ 12,284,931	$ (228,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	482,929						482,929
Cash dividends
Preferred securities			$ (43)						$ (43)
Common stock	(445,000)						(445,000)
Ending balance at Sep. 30, 2014	12,094,517			0	129	12,284,931	(190,543)
Beginning balance at Dec. 31, 2014	12,356,517			110	129	12,550,822	(194,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	487,522						487,522
Cash dividends
Preferred securities		$ (13,148)	$ (43)					$ (13,148)	$ (43)
Common stock	(425,000)						(425,000)
Ending balance at Sep. 30, 2015	$ 12,405,848			$ 110	$ 129	$ 12,550,822	$ (145,213)

Statement of Changes in Stockh7

Statement of Changes in Stockholders' Equity (Parenthetical) (Unaudited)	9 Months Ended
	Sep. 30, 2015$ / sharesshares	Sep. 30, 2014$ / shares
Common stock, dividend per share (in dollars per share)	$ 32.95	$ 34.50
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding | shares	19,999
Series A Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 1.20
Series B Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 63.75	$ 63.75

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 487,522	$ 482,929
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion and amortization of adjustments on loans	(62,904)	(51,303)
Provision (reversal of provision) for credit losses	(23,914)	4,380
Other operating activities, net	(10,495)	(15,738)
Net cash provided by operating activities	390,209	420,268
Increase (decrease) in cash realized from Loans:
Acquisitions	(2,495,142)	(1,765,376)
Proceeds from payments and sales	2,291,261	1,957,543
Net cash (used) provided by investing activities	(203,881)	192,167
Increase (decrease) in cash realized from
Draws on line of credit with Bank	1,348,643	1,414,507
Repayments of line of credit with Bank	(1,095,758)	(1,581,899)
Cash dividends paid	(439,213)	(445,043)
Net cash used by financing activities	(186,328)	(612,435)
Net change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Change in noncash items:
Transfers from loans to foreclosed assets	$ 8,472	$ 10,179

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1: Summary of Significant Accounting Policies Wells Fargo Real Estate Investment Corporation (the Company, we, our or us) is a direct subsidiary of Wachovia Preferred Funding Corp. (WPFC) and an indirect subsidiary of both Wells Fargo & Company (Wells Fargo) and Wells Fargo Bank, National Association (the Bank). The Company, a Delaware corporation, has operated as a real estate investment trust (REIT) since its formation in 1996. The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates based on assumptions about future economic and market conditions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual future conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates related to the allowance for credit losses (Note 2 (Loans and Allowance for Credit Losses)). Actual results could differ from those estimates. These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K. Subsequent Events We have evaluated the effects of subsequent events that have occurred subsequent to September 30, 2015 . There were no subsequent events requiring adjustment to the financial statements or disclosure in the Notes to Financial Statements.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans and Allowance for Credit Losses	Note 2: Loans and Allowance for Credit Losses The Company acquires loans originated or purchased by the Bank. In order to maintain our status as a REIT, the composition of the loans is highly concentrated in real estate. A significant portion of underlying loans are concentrated in California, New Jersey, Florida, Pennsylvania and New York. These markets include approximately 44% of our total loan balance at September 30, 2015 . The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $322.7 million and $347.1 million at September 30, 2015 and December 31, 2014 , respectively, which were predominantly unamortized discounts and premiums. (in thousands) Sep 30, Dec 31, Commercial: Commercial and industrial $ 42,993 58,559 Secured by real estate 2,643,268 3,121,106 Total commercial 2,686,261 3,179,665 Consumer: Real estate 1-4 family first mortgage 8,993,388 8,023,294 Real estate 1-4 family junior lien mortgage 1,471,699 1,746,318 Total consumer 10,465,087 9,769,612 Total loans $ 13,151,348 12,949,277 The following table summarizes the proceeds paid (including accrued interest receivable of $1.9 million and $5.9 million for the third quarter and first nine months of 2015 , and $2.4 million and $5.0 million in the third quarter and first nine months of 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Loan acquisitions $ — 794,475 794,475 — 886,404 886,404 Loan sales — (3,457 ) (3,457 ) — (3,932 ) (3,932 ) Nine months ended September 30, Loan acquisitions $ — 2,495,142 2,495,142 — 1,765,376 1,765,376 Loan sales (550 ) (9,441 ) (9,991 ) (493 ) (18,866 ) (19,359 ) Commitments to Lend The contract or notional amount of commercial loan commitments to extend credit decreased to $380.7 million at September 30, 2015 from $413.5 million at December 31, 2014 . Pledged Loans See Note 5 (Transactions With Related Parties) for additional details on our agreement with the Bank to pledge loans. Allowance for Credit Losses (ACL) The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 164,494 212,535 185,174 244,269 Provision (reversal of provision) for credit losses (23,023 ) (3,548 ) (23,914 ) 4,380 Interest income on certain impaired loans (1) (1,121 ) (927 ) (3,470 ) (2,886 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (113 ) (218 ) (476 ) (519 ) Total commercial (113 ) (218 ) (476 ) (519 ) Consumer: Real estate 1-4 family first mortgage (6,757 ) (6,883 ) (17,110 ) (25,531 ) Real estate 1-4 family junior lien mortgage (6,684 ) (10,394 ) (22,329 ) (38,496 ) Total consumer (13,441 ) (17,277 ) (39,439 ) (64,027 ) Total loan charge-offs (13,554 ) (17,495 ) (39,915 ) (64,546 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 291 2 300 11 Total commercial 291 2 300 11 Consumer: Real estate 1-4 family first mortgage 1,201 1,063 3,789 5,236 Real estate 1-4 family junior lien mortgage 3,181 3,218 9,505 8,384 Total consumer 4,382 4,281 13,294 13,620 Total loan recoveries 4,673 4,283 13,594 13,631 Net loan charge-offs (8,881 ) (13,212 ) (26,321 ) (50,915 ) Balance, end of period $ 131,469 194,848 131,469 194,848 Components: Allowance for loan losses $ 130,839 194,039 130,839 194,039 Allowance for unfunded credit commitments 630 809 630 809 Allowance for credit losses $ 131,469 194,848 131,469 194,848 Net loan charge-offs (annualized) as a percentage of average total loans 0.27 % 0.41 0.28 0.54 Allowance for loan losses as a percentage of total loans 0.99 1.50 0.99 1.50 Allowance for credit losses as a percentage of total loans 1.00 1.51 1.00 1.51 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in allowance as interest income. The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Balance, beginning of period $ 18,806 145,688 164,494 25,230 187,305 212,535 Reversal of provision for credit losses (291 ) (22,732 ) (23,023 ) (2,071 ) (1,477 ) (3,548 ) Interest income on certain impaired loans — (1,121 ) (1,121 ) — (927 ) (927 ) Loan charge-offs (113 ) (13,441 ) (13,554 ) (218 ) (17,277 ) (17,495 ) Loan recoveries 291 4,382 4,673 2 4,281 4,283 Net loan charge-offs 178 (9,059 ) (8,881 ) (216 ) (12,996 ) (13,212 ) Balance, end of period $ 18,693 112,776 131,469 22,943 171,905 194,848 Nine months ended September 30, Balance, beginning of period $ 19,476 165,698 185,174 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (607 ) (23,307 ) (23,914 ) (2,694 ) 7,074 4,380 Interest income on certain impaired loans — (3,470 ) (3,470 ) — (2,886 ) (2,886 ) Loan charge-offs (476 ) (39,439 ) (39,915 ) (519 ) (64,027 ) (64,546 ) Loan recoveries 300 13,294 13,594 11 13,620 13,631 Net loan charge-offs (176 ) (26,145 ) (26,321 ) (508 ) (50,407 ) (50,915 ) Balance, end of period $ 18,693 112,776 131,469 22,943 171,905 194,848 The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in thousands) Commercial Consumer Total Commercial Consumer Total September 30, 2015 Collectively evaluated (1) $ 16,673 36,347 53,020 2,674,353 9,937,610 12,611,963 Individually evaluated (2) 2,020 76,429 78,449 10,710 505,828 516,538 Purchased credit-impaired (PCI) (3) — — — 1,198 21,649 22,847 Total $ 18,693 112,776 131,469 2,686,261 10,465,087 13,151,348 December 31, 2014 Collectively evaluated (1) $ 17,535 53,999 71,534 3,172,418 9,218,652 12,391,070 Individually evaluated (2) 1,941 111,699 113,640 5,127 523,264 528,391 PCI (3) — — — 2,120 27,696 29,816 Total $ 19,476 165,698 185,174 3,179,665 9,769,612 12,949,277 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV), which are obtained at least quarterly. Generally, these indicators are updated in the second month of each quarter, with updates no older than June 30, 2015 . COMMERCIAL CREDIT QUALITY INDICATORS In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory agencies. The table below provides a breakdown of outstanding commercial loans by risk category. (in thousands) Commercial and industrial Secured by real estate Total September 30, 2015 By risk category: Pass $ 42,971 2,615,709 2,658,680 Criticized 22 27,559 27,581 Total commercial loans $ 42,993 2,643,268 2,686,261 December 31, 2014 By risk category: Pass $ 58,559 3,099,896 3,158,455 Criticized — 21,210 21,210 Total commercial loans $ 58,559 3,121,106 3,179,665 The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in thousands) Commercial and industrial Secured by real estate Total September 30, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 42,993 2,630,151 2,673,144 30-89 DPD and still accruing — 2,978 2,978 90+ DPD and still accruing — 975 975 Nonaccrual loans — 9,164 9,164 Total commercial loans $ 42,993 2,643,268 2,686,261 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 58,559 3,112,991 3,171,550 30-89 DPD and still accruing — 3,901 3,901 90+ DPD and still accruing — — — Nonaccrual loans — 4,214 4,214 Total commercial loans $ 58,559 3,121,106 3,179,665 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present respective unique risks. Loan delinquency, FICO credit scores and LTV/CLTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment. The majority of our loss estimation techniques used for the allowance for credit losses rely on delinquency matrix models or delinquency roll rate models. Therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total September 30, 2015 By delinquency status: Current-29 DPD $ 8,822,137 1,408,886 10,231,023 30-59 DPD 40,474 20,205 60,679 60-89 DPD 21,734 9,891 31,625 90-119 DPD 9,136 6,792 15,928 120-179 DPD 11,197 7,018 18,215 180+ DPD 98,691 21,777 120,468 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By delinquency status: Current-29 DPD $ 7,819,624 1,670,204 9,489,828 30-59 DPD 43,991 22,639 66,630 60-89 DPD 24,190 13,360 37,550 90-119 DPD 12,856 8,049 20,905 120-179 DPD 19,552 10,351 29,903 180+ DPD 114,508 23,907 138,415 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total September 30, 2015 By updated FICO: < 600 $ 283,746 150,637 434,383 600-639 217,671 116,716 334,387 640-679 446,070 186,734 632,804 680-719 889,733 255,004 1,144,737 720-759 1,456,316 285,123 1,741,439 760-799 3,784,151 307,905 4,092,056 800+ 1,835,683 152,311 1,987,994 No FICO available 89,999 20,139 110,138 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By updated FICO: < 600 $ 352,071 207,535 559,606 600-639 261,911 122,907 384,818 640-679 462,643 200,737 663,380 680-719 974,778 295,492 1,270,270 720-759 1,425,335 354,841 1,780,176 760-799 2,970,256 361,942 3,332,198 800+ 1,498,996 184,976 1,683,972 No FICO available 88,731 20,080 108,811 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties. The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. (in thousands) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total September 30, 2015 By LTV/CLTV: 0-60% $ 4,473,472 420,274 4,893,746 60.01-80% 3,592,191 375,895 3,968,086 80.01-100% 729,697 381,005 1,110,702 100.01-120% (1) 116,861 196,402 313,263 > 120% (1) 60,216 98,741 158,957 No LTV/CLTV available 30,932 2,252 33,184 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By LTV/CLTV: 0-60% $ 4,007,543 470,244 4,477,787 60.01-80% 2,958,255 445,892 3,404,147 80.01-100% 801,111 453,564 1,254,675 100.01-120% (1) 164,249 249,423 413,672 > 120% (1) 64,619 127,355 191,974 No LTV/CLTV available 38,944 2,032 40,976 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table due to the existence of the accretable yield. (in thousands) Sep 30, Dec 31, Commercial: Commercial and industrial $ — — Secured by real estate 9,164 4,214 Total commercial 9,164 4,214 Consumer: Real estate 1-4 family first mortgage 206,821 236,859 Real estate 1-4 family junior lien mortgage 69,656 80,375 Total consumer 276,477 317,234 Total nonaccrual loans (excluding PCI) $ 285,641 321,448 LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $4.6 million at September 30, 2015 , and $4.9 million at December 31, 2014, are excluded from this disclosure even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing. (in thousands) Sep 30, 2015 Dec 31, 2014 Commercial: Commercial and industrial $ — — Secured by real estate — — Total commercial — — Consumer: Real estate 1-4 family first mortgage 6,139 6,020 Real estate 1-4 family junior lien mortgage 3,119 4,240 Total consumer 9,258 10,260 Total past due (excluding PCI) $ 9,258 10,260 Impaired Loans The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $14.3 million at September 30, 2015 , and $15.1 million at December 31, 2014 . Recorded investment (in thousands) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 12,088 10,710 10,710 2,020 Total commercial 12,088 10,710 10,710 2,020 Consumer: Real estate 1-4 family first mortgage 466,655 386,513 259,252 46,179 Real estate 1-4 family junior lien mortgage 133,157 119,315 98,645 30,250 Total consumer 599,812 505,828 357,897 76,429 Total impaired loans (excluding PCI) $ 611,900 516,538 368,607 78,449 December 31, 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate 7,391 5,127 5,127 1,941 Total commercial 7,391 5,127 5,127 1,941 Consumer: Real estate 1-4 family first mortgage 483,084 397,858 283,549 68,589 Real estate 1-4 family junior lien mortgage 157,182 125,406 106,777 43,110 Total consumer 640,266 523,264 390,326 111,699 Total impaired loans (excluding PCI) $ 647,657 528,391 395,453 113,640 The following table provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Average Recognized interest income Average recorded investment Recognized interest income Average Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — — — Secured by real estate 11,351 821 5,895 25 8,170 898 6,897 207 Total commercial 11,351 821 5,895 25 8,170 898 6,897 207 Consumer: Real estate 1-4 family first mortgage 388,609 5,681 403,069 5,037 392,712 17,183 402,439 15,943 Real estate 1-4 family junior lien mortgage 119,882 2,370 127,731 2,517 121,797 7,146 129,017 7,264 Total consumer 508,491 8,051 530,800 7,554 514,509 24,329 531,456 23,207 Total impaired loans $ 519,842 8,872 536,695 7,579 522,679 25,227 538,353 23,414 Interest income: Cash basis of accounting $ 3,381 2,270 8,580 7,958 Other (1) 5,491 5,309 16,647 15,456 Total interest income $ 8,872 7,579 25,227 23,414 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. Troubled Debt Restructuring (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms. The planned modifications for these arrangements predominantly involve interest rate reductions or other interest rate concessions, however, the exact concession type and resulting financial effect are usually not finalized and do not take effect until the loan is permanently modified. The trial period terms are developed in accordance with our proprietary programs or the U.S. Treasury’s Making Homes Affordable programs for real estate 1-4 family first lien (i.e. Home Affordable Modification Program - HAMP) and junior lien (i.e. Second Lien Modification Program - 2MP) mortgage loans. At September 30, 2015 , the loans in trial modification period were $4.9 million under HAMP, $879 thousand under 2MP and $8.5 million under proprietary programs, compared with $7.7 million , $1.3 million and $6.1 million at December 31, 2014 , respectively. Trial modifications with a recorded investment of $5.7 million at September 30, 2015 , and $6.8 million at December 31, 2014 , were accruing loans and $8.6 million and $8.3 million , respectively, were nonaccruing loans. Our experience is that substantially all of the mortgages that enter a trial payment period program are successful in completing the program requirements and are then permanently modified at the end of the trial period. As previously discussed, our allowance process considers the impact of those modifications that are probable to occur including the associated credit cost and related re-default risk. For those loans that may be modified more than once, the following table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended September 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 3,588 5,887 4,657 14,132 485 3.68 8,825 Real estate 1-4 family junior lien mortgage 704 1,441 974 3,119 552 4.58 2,089 Trial modifications (6) — — (350 ) (350 ) — — — Total consumer 4,292 7,328 5,281 16,901 1,037 3.85 10,914 Total $ 4,292 7,328 5,281 16,901 1,037 3.85 % $ 10,914 Quarter ended September 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 149 149 — — — Total commercial — — 149 149 — — — Consumer: Real estate 1-4 family first mortgage 2,793 3,934 6,576 13,303 490 3.29 6,544 Real estate 1-4 family junior lien mortgage 857 2,241 1,609 4,707 696 5.26 3,098 Trial modifications (6) — — 4,147 4,147 — — — Total consumer 3,650 6,175 12,332 22,157 1,186 3.93 9,642 Total $ 3,650 6,175 12,481 22,306 1,186 3.93 % $ 9,642 Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Nine months ended September 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 3,884 3,884 — — — Total commercial — — 3,884 3,884 — — — Consumer: Real estate 1-4 family first mortgage 7,796 16,405 14,418 38,619 1,655 3.46 22,467 Real estate 1-4 family junior lien mortgage 1,401 3,716 3,816 8,933 1,484 4.98 4,747 Trial modifications (6) — — 1,634 1,634 — — — Total consumer 9,197 20,121 19,868 49,186 3,139 3.73 27,214 Total $ 9,197 20,121 23,752 53,070 3,139 3.73 % $ 27,214 Nine months ended September 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 531 531 — — — Total commercial — — 531 531 — — — Consumer: Real estate 1-4 family first mortgage 15,789 14,786 22,043 52,618 3,438 3.20 29,400 Real estate 1-4 family junior lien mortgage 2,761 5,278 5,294 13,333 2,568 5.17 7,844 Trial modifications (6) — — 2,449 2,449 — — — Total consumer 18,550 20,064 29,786 68,400 6,006 4.88 37,244 Total $ 18,550 20,064 30,317 68,931 6,006 4.88 % $ 37,244 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs with multiple types of concessions are presented only once in the table in the first category type based on the order presented. The reported amounts include loans remodified of $5.2 million and $3.3 million for the quarters ended September 30, 2015 and 2014 , and $13.2 million and $16.3 million for the nine months ended 2015 and 2014 , respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $1.1 million and $724 thousand for the quarters ended September 30, 2015 and 2014 , and $2.3 million and $4.0 million for the nine months ended 2015 and 2014 respectively. (5) Reflects the effect of reduced interest rates on loans with an interest rate concession as one of their concession types, which includes loans reported as a principal primary modification type that also have an interest rate concession. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period. The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We report these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Recorded investment of defaults Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate — — — 186 Total commercial — — — 186 Consumer: Real estate 1-4 family first mortgage 1,797 470 4,264 2,126 Real estate 1-4 family junior lien mortgage 383 174 814 1,665 Total consumer 2,180 644 5,078 3,791 Total $ 2,180 644 5,078 3,977

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities	Note 3: Fair Values of Assets and Liabilities We use fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. We did not elect the fair value option for any financial instruments as permitted in FASB ASC 825, Financial Instruments , which allows companies to elect to carry certain financial instruments at fair value with corresponding changes in fair value reported in the results of operations. As of September 30, 2015 and December 31, 2014 , assets measured at fair value on a nonrecurring basis were less than 1 percent of total assets. See Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K for additional information about our fair value measurement policies and methods. Disclosures about Fair Value of Financial Instruments The table below is a summary of fair value estimates by level for financial instruments. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. We have not included assets and liabilities that are not financial instruments in our disclosure, such as other assets and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Carrying amount Estimated fair value (in thousands) Level 1 Level 2 Level 3 Total September 30, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 13,020,509 — — 13,895,139 13,895,139 Financial liabilities Line of credit with Bank (1) 749,577 — — 749,577 749,577 December 31, 2014 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,764,840 — — 13,721,645 13,721,645 Financial liabilities Line of credit with Bank (1) 496,692 — — 496,692 496,692 (1) Amounts consist of financial instruments in which carrying value approximates fair value. (2) Carrying amount reflects net discount and allowance for loan losses.

Common and Preferred Stock

Common and Preferred Stock	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Common and Preferred Stock	Note 4: Common and Preferred Stock The following table provides details of our authorized common and preferred stock. September 30, 2015 and December 31, 2014 Liquidation Shares Shares Par value Carrying Preferred stock: Series A 6.375%, Cumulative, Perpetual Series A Preferred Stock $ 25 11,000,000 11,000,000 $ 0.01 110,000 Series B $85 Annual Dividend Per Share, Cumulative, Perpetual Series B Preferred Stock 1,000 1,000 667 0.01 7 Common stock (1) 100,000,000 12,900,000 0.01 129,000 Total 111,001,000 23,900,667 $ 239,007 (1) All common share and per share disclosures reflect the 20,000 -for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015. In the event that the Company is liquidated or dissolved, the holders of the Series A and Series B preferred stock will be entitled to a liquidation preference for each security plus any authorized, declared, but unpaid dividends and any accumulated but unpaid dividends that will be paid prior to any payments to common stockholders. With respect to the payment of dividends and liquidation preference, the Series A preferred stock ranks on parity with Series B preferred stock and senior to the Company’s common stock. Additional information related to Series A and B preferred stock is included in Note 5 (Common and Preferred Stock) to Financial Statements in our 2014 Form 10-K.

Transactions With Related Parti

Transactions With Related Parties	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Transactions With Related Parties	Note 5: Transactions With Related Parties The Company engages in various transactions and agreements with affiliated parties in the ordinary course of business. Due to the nature of common ownership of the Company and the affiliated parties by Wells Fargo, these transactions and agreements could differ from those conducted with unaffiliated parties. The principal items related to transactions with affiliated parties included in the accompanying statement of income and balance sheet are described in the table and narrative below. Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 20,926 14,679 62,904 45,445 Interest on deposits — — 304 42 Total interest income 20,926 14,679 63,208 45,487 Pledge fees 1,538 — 1,856 — Interest expense 377 277 644 1,037 Loan servicing costs 9,074 8,160 26,598 23,717 Management fees 2,871 821 8,328 2,280 (in thousands) Sep 30, Dec 31, Balance sheet related data Loan acquisitions (year-to-date) (1) $ 2,495,142 2,566,372 Loan sales (year-to-date) (9,991 ) (23,496 ) Pledged loans (carrying value) (2) 5,802,073 — Foreclosed asset sales (year-to-date) (9,374 ) (14,971 ) Line of credit with Bank 749,577 496,692 Accounts receivable - affiliates, net 100,306 54,424 (1) Includes accrued interest, see Note 2 (Loans and Allowance for Credit Losses) for additional details. (2) The fair value of pledged loans was approximately $6.2 billion at September 30, 2015 . Loans We acquire and sell loans to and from the Bank. The acquisitions and sales are transacted at fair value resulting in acquisition discounts and premiums or gains and losses on sales. The net acquisition discount accretion is reported within interest income. Gains or losses on sales of loans are included within noninterest income. We may pledge our loans in an aggregate amount not exceeding 80% of our total assets at any time as collateral on behalf of the Bank for the Bank’s access to secured borrowing facilities through the Federal Home Loan Banks or the discount window of Federal Reserve Banks. In exchange for the pledge of our loan assets, the Bank will pay us a fee that is consistent with market terms. At September 30, 2015, the fee was equal to an annual rate of 11 basis points ( 0.11% ) as applied to the unpaid principal balance of pledged loans on a monthly basis. Such fee may be renegotiated by us and the Bank from time to time. Loan Servicing Costs The loans in our portfolio are predominantly serviced by the Bank pursuant to the terms of participation and servicing and assignment agreements. In some instances, the Bank has delegated servicing responsibility to third parties that are not affiliated with us or the Bank. Depending on the loan type, the monthly servicing fee charges are based in part on (a) outstanding principal balances, (b) a flat fee per month, or (c) a total loan commitment amount. Management Fees We pay the Bank a management fee to reimburse for general overhead expenses, including allocations of technology support and a combination of finance and accounting, risk management and other general overhead expenses incurred on our behalf. Management fees are calculated based on Wells Fargo’s total allocable costs multiplied by a formula. The formula is based on our proportion of Wells Fargo’s consolidated: 1) full-time equivalent employees, 2) total average assets and 3) total revenue. Deposits Interest income earned on deposits is included in interest income. Our cash management process includes applying operating cash flows to reduce any outstanding balance on our line of credit with the Bank. Operating cash flows are settled through our affiliate accounts receivable/payable process. Upon settlement cash received is either applied to reduce our line of credit outstanding or retained as a deposit with the Bank. Foreclosed Assets We sell foreclosed assets back to the Bank from time to time at estimated fair value. Line of Credit We have a revolving line of credit with the Bank, pursuant to which we can borrow up to $1.2 billion at a rate of interest equal to the average federal funds rate plus 12.5 basis points ( 0.125% ). Accounts Receivable - Affiliates, Net Accounts receivable from or payable to the Bank or its affiliates result from intercompany transactions which include net loan pay-downs, interest receipts, and other transactions, including those transactions noted herein, which have not yet settled.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Nature of Operations	Wells Fargo Real Estate Investment Corporation (the Company, we, our or us) is a direct subsidiary of Wachovia Preferred Funding Corp. (WPFC) and an indirect subsidiary of both Wells Fargo & Company (Wells Fargo) and Wells Fargo Bank, National Association (the Bank). The Company, a Delaware corporation, has operated as a real estate investment trust (REIT) since its formation in 1996.
Use of Estimates	The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates based on assumptions about future economic and market conditions that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual future conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates related to the allowance for credit losses (Note 2 (Loans and Allowance for Credit Losses)). Actual results could differ from those estimates.
Comparability of Prior Year Financial Data	These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2014 Form 10-K.
Subsequent Events	We have evaluated the effects of subsequent events that have occurred subsequent to September 30, 2015 . There were no subsequent events requiring adjustment to the financial statements or disclosure in the Notes to Financial Statements.

Loans and Allowance for Credi15

Loans and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans and Allowance for Credit Losses, Loans Outstanding	The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $322.7 million and $347.1 million at September 30, 2015 and December 31, 2014 , respectively, which were predominantly unamortized discounts and premiums. (in thousands) Sep 30, Dec 31, Commercial: Commercial and industrial $ 42,993 58,559 Secured by real estate 2,643,268 3,121,106 Total commercial 2,686,261 3,179,665 Consumer: Real estate 1-4 family first mortgage 8,993,388 8,023,294 Real estate 1-4 family junior lien mortgage 1,471,699 1,746,318 Total consumer 10,465,087 9,769,612 Total loans $ 13,151,348 12,949,277
Loans and Allowance for Credit Losses, Significant Activity	The following table summarizes the proceeds paid (including accrued interest receivable of $1.9 million and $5.9 million for the third quarter and first nine months of 2015 , and $2.4 million and $5.0 million in the third quarter and first nine months of 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Loan acquisitions $ — 794,475 794,475 — 886,404 886,404 Loan sales — (3,457 ) (3,457 ) — (3,932 ) (3,932 ) Nine months ended September 30, Loan acquisitions $ — 2,495,142 2,495,142 — 1,765,376 1,765,376 Loan sales (550 ) (9,441 ) (9,991 ) (493 ) (18,866 ) (19,359 )
Loans and Allowance for Credit Losses, Allowance for Credit Losses	The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 164,494 212,535 185,174 244,269 Provision (reversal of provision) for credit losses (23,023 ) (3,548 ) (23,914 ) 4,380 Interest income on certain impaired loans (1) (1,121 ) (927 ) (3,470 ) (2,886 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (113 ) (218 ) (476 ) (519 ) Total commercial (113 ) (218 ) (476 ) (519 ) Consumer: Real estate 1-4 family first mortgage (6,757 ) (6,883 ) (17,110 ) (25,531 ) Real estate 1-4 family junior lien mortgage (6,684 ) (10,394 ) (22,329 ) (38,496 ) Total consumer (13,441 ) (17,277 ) (39,439 ) (64,027 ) Total loan charge-offs (13,554 ) (17,495 ) (39,915 ) (64,546 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 291 2 300 11 Total commercial 291 2 300 11 Consumer: Real estate 1-4 family first mortgage 1,201 1,063 3,789 5,236 Real estate 1-4 family junior lien mortgage 3,181 3,218 9,505 8,384 Total consumer 4,382 4,281 13,294 13,620 Total loan recoveries 4,673 4,283 13,594 13,631 Net loan charge-offs (8,881 ) (13,212 ) (26,321 ) (50,915 ) Balance, end of period $ 131,469 194,848 131,469 194,848 Components: Allowance for loan losses $ 130,839 194,039 130,839 194,039 Allowance for unfunded credit commitments 630 809 630 809 Allowance for credit losses $ 131,469 194,848 131,469 194,848 Net loan charge-offs (annualized) as a percentage of average total loans 0.27 % 0.41 0.28 0.54 Allowance for loan losses as a percentage of total loans 0.99 1.50 0.99 1.50 Allowance for credit losses as a percentage of total loans 1.00 1.51 1.00 1.51 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in allowance as interest income.
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category	The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Balance, beginning of period $ 18,806 145,688 164,494 25,230 187,305 212,535 Reversal of provision for credit losses (291 ) (22,732 ) (23,023 ) (2,071 ) (1,477 ) (3,548 ) Interest income on certain impaired loans — (1,121 ) (1,121 ) — (927 ) (927 ) Loan charge-offs (113 ) (13,441 ) (13,554 ) (218 ) (17,277 ) (17,495 ) Loan recoveries 291 4,382 4,673 2 4,281 4,283 Net loan charge-offs 178 (9,059 ) (8,881 ) (216 ) (12,996 ) (13,212 ) Balance, end of period $ 18,693 112,776 131,469 22,943 171,905 194,848 Nine months ended September 30, Balance, beginning of period $ 19,476 165,698 185,174 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (607 ) (23,307 ) (23,914 ) (2,694 ) 7,074 4,380 Interest income on certain impaired loans — (3,470 ) (3,470 ) — (2,886 ) (2,886 ) Loan charge-offs (476 ) (39,439 ) (39,915 ) (519 ) (64,027 ) (64,546 ) Loan recoveries 300 13,294 13,594 11 13,620 13,631 Net loan charge-offs (176 ) (26,145 ) (26,321 ) (508 ) (50,407 ) (50,915 ) Balance, end of period $ 18,693 112,776 131,469 22,943 171,905 194,848
Loans and Allowance for Credit Losses, by Impairment Methodology	The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in thousands) Commercial Consumer Total Commercial Consumer Total September 30, 2015 Collectively evaluated (1) $ 16,673 36,347 53,020 2,674,353 9,937,610 12,611,963 Individually evaluated (2) 2,020 76,429 78,449 10,710 505,828 516,538 Purchased credit-impaired (PCI) (3) — — — 1,198 21,649 22,847 Total $ 18,693 112,776 131,469 2,686,261 10,465,087 13,151,348 December 31, 2014 Collectively evaluated (1) $ 17,535 53,999 71,534 3,172,418 9,218,652 12,391,070 Individually evaluated (2) 1,941 111,699 113,640 5,127 523,264 528,391 PCI (3) — — — 2,120 27,696 29,816 Total $ 19,476 165,698 185,174 3,179,665 9,769,612 12,949,277 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.
Loans by Credit Quality Indicator, Commercial	The table below provides a breakdown of outstanding commercial loans by risk category. (in thousands) Commercial and industrial Secured by real estate Total September 30, 2015 By risk category: Pass $ 42,971 2,615,709 2,658,680 Criticized 22 27,559 27,581 Total commercial loans $ 42,993 2,643,268 2,686,261 December 31, 2014 By risk category: Pass $ 58,559 3,099,896 3,158,455 Criticized — 21,210 21,210 Total commercial loans $ 58,559 3,121,106 3,179,665
Loans by Delinquency Status, Commercial	The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in thousands) Commercial and industrial Secured by real estate Total September 30, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 42,993 2,630,151 2,673,144 30-89 DPD and still accruing — 2,978 2,978 90+ DPD and still accruing — 975 975 Nonaccrual loans — 9,164 9,164 Total commercial loans $ 42,993 2,643,268 2,686,261 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 58,559 3,112,991 3,171,550 30-89 DPD and still accruing — 3,901 3,901 90+ DPD and still accruing — — — Nonaccrual loans — 4,214 4,214 Total commercial loans $ 58,559 3,121,106 3,179,665
Loans by Delinquency Status, Consumer	The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total September 30, 2015 By delinquency status: Current-29 DPD $ 8,822,137 1,408,886 10,231,023 30-59 DPD 40,474 20,205 60,679 60-89 DPD 21,734 9,891 31,625 90-119 DPD 9,136 6,792 15,928 120-179 DPD 11,197 7,018 18,215 180+ DPD 98,691 21,777 120,468 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By delinquency status: Current-29 DPD $ 7,819,624 1,670,204 9,489,828 30-59 DPD 43,991 22,639 66,630 60-89 DPD 24,190 13,360 37,550 90-119 DPD 12,856 8,049 20,905 120-179 DPD 19,552 10,351 29,903 180+ DPD 114,508 23,907 138,415 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612
Loans by FICO Score, Consumer	The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes. (in thousands) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Total September 30, 2015 By updated FICO: < 600 $ 283,746 150,637 434,383 600-639 217,671 116,716 334,387 640-679 446,070 186,734 632,804 680-719 889,733 255,004 1,144,737 720-759 1,456,316 285,123 1,741,439 760-799 3,784,151 307,905 4,092,056 800+ 1,835,683 152,311 1,987,994 No FICO available 89,999 20,139 110,138 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By updated FICO: < 600 $ 352,071 207,535 559,606 600-639 261,911 122,907 384,818 640-679 462,643 200,737 663,380 680-719 974,778 295,492 1,270,270 720-759 1,425,335 354,841 1,780,176 760-799 2,970,256 361,942 3,332,198 800+ 1,498,996 184,976 1,683,972 No FICO available 88,731 20,080 108,811 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612
Loans by Loan to Value Ratio, Consumer	The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. (in thousands) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total September 30, 2015 By LTV/CLTV: 0-60% $ 4,473,472 420,274 4,893,746 60.01-80% 3,592,191 375,895 3,968,086 80.01-100% 729,697 381,005 1,110,702 100.01-120% (1) 116,861 196,402 313,263 > 120% (1) 60,216 98,741 158,957 No LTV/CLTV available 30,932 2,252 33,184 Remaining PCI accounting adjustments (9,981 ) (2,870 ) (12,851 ) Total consumer loans $ 8,993,388 1,471,699 10,465,087 December 31, 2014 By LTV/CLTV: 0-60% $ 4,007,543 470,244 4,477,787 60.01-80% 2,958,255 445,892 3,404,147 80.01-100% 801,111 453,564 1,254,675 100.01-120% (1) 164,249 249,423 413,672 > 120% (1) 64,619 127,355 191,974 No LTV/CLTV available 38,944 2,032 40,976 Remaining PCI accounting adjustments (11,427 ) (2,192 ) (13,619 ) Total consumer loans $ 8,023,294 1,746,318 9,769,612 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
Nonaccrual Loans	The following table provides loans on nonaccrual status. PCI loans are excluded from this table due to the existence of the accretable yield. (in thousands) Sep 30, Dec 31, Commercial: Commercial and industrial $ — — Secured by real estate 9,164 4,214 Total commercial 9,164 4,214 Consumer: Real estate 1-4 family first mortgage 206,821 236,859 Real estate 1-4 family junior lien mortgage 69,656 80,375 Total consumer 276,477 317,234 Total nonaccrual loans (excluding PCI) $ 285,641 321,448
90 days Past Due but Still Accruing Loans	The following table shows non-PCI loans 90 days or more past due and still accruing. (in thousands) Sep 30, 2015 Dec 31, 2014 Commercial: Commercial and industrial $ — — Secured by real estate — — Total commercial — — Consumer: Real estate 1-4 family first mortgage 6,139 6,020 Real estate 1-4 family junior lien mortgage 3,119 4,240 Total consumer 9,258 10,260 Total past due (excluding PCI) $ 9,258 10,260
Impaired Loans	The table below includes trial modifications that totaled $14.3 million at September 30, 2015 , and $15.1 million at December 31, 2014 . Recorded investment (in thousands) Unpaid principal balance Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 12,088 10,710 10,710 2,020 Total commercial 12,088 10,710 10,710 2,020 Consumer: Real estate 1-4 family first mortgage 466,655 386,513 259,252 46,179 Real estate 1-4 family junior lien mortgage 133,157 119,315 98,645 30,250 Total consumer 599,812 505,828 357,897 76,429 Total impaired loans (excluding PCI) $ 611,900 516,538 368,607 78,449 December 31, 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate 7,391 5,127 5,127 1,941 Total commercial 7,391 5,127 5,127 1,941 Consumer: Real estate 1-4 family first mortgage 483,084 397,858 283,549 68,589 Real estate 1-4 family junior lien mortgage 157,182 125,406 106,777 43,110 Total consumer 640,266 523,264 390,326 111,699 Total impaired loans (excluding PCI) $ 647,657 528,391 395,453 113,640
Impaired Loans, Average Recorded Investment and Interest Income	The following table provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in thousands) Average Recognized interest income Average recorded investment Recognized interest income Average Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — — — Secured by real estate 11,351 821 5,895 25 8,170 898 6,897 207 Total commercial 11,351 821 5,895 25 8,170 898 6,897 207 Consumer: Real estate 1-4 family first mortgage 388,609 5,681 403,069 5,037 392,712 17,183 402,439 15,943 Real estate 1-4 family junior lien mortgage 119,882 2,370 127,731 2,517 121,797 7,146 129,017 7,264 Total consumer 508,491 8,051 530,800 7,554 514,509 24,329 531,456 23,207 Total impaired loans $ 519,842 8,872 536,695 7,579 522,679 25,227 538,353 23,414 Interest income: Cash basis of accounting $ 3,381 2,270 8,580 7,958 Other (1) 5,491 5,309 16,647 15,456 Total interest income $ 8,872 7,579 25,227 23,414 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans.
Troubled Debt Restructurings, Modification by Type	For those loans that may be modified more than once, the following table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table. Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Quarter ended September 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 3,588 5,887 4,657 14,132 485 3.68 8,825 Real estate 1-4 family junior lien mortgage 704 1,441 974 3,119 552 4.58 2,089 Trial modifications (6) — — (350 ) (350 ) — — — Total consumer 4,292 7,328 5,281 16,901 1,037 3.85 10,914 Total $ 4,292 7,328 5,281 16,901 1,037 3.85 % $ 10,914 Quarter ended September 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 149 149 — — — Total commercial — — 149 149 — — — Consumer: Real estate 1-4 family first mortgage 2,793 3,934 6,576 13,303 490 3.29 6,544 Real estate 1-4 family junior lien mortgage 857 2,241 1,609 4,707 696 5.26 3,098 Trial modifications (6) — — 4,147 4,147 — — — Total consumer 3,650 6,175 12,332 22,157 1,186 3.93 9,642 Total $ 3,650 6,175 12,481 22,306 1,186 3.93 % $ 9,642 Primary modification type (1) Financial effects of modifications (in thousands) Principal (2) Interest rate reduction Other concessions (3) Total Charge- offs (4) Weighted average interest rate reduction Recorded investment related to interest rate reduction (5) Nine months ended September 30, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 3,884 3,884 — — — Total commercial — — 3,884 3,884 — — — Consumer: Real estate 1-4 family first mortgage 7,796 16,405 14,418 38,619 1,655 3.46 22,467 Real estate 1-4 family junior lien mortgage 1,401 3,716 3,816 8,933 1,484 4.98 4,747 Trial modifications (6) — — 1,634 1,634 — — — Total consumer 9,197 20,121 19,868 49,186 3,139 3.73 27,214 Total $ 9,197 20,121 23,752 53,070 3,139 3.73 % $ 27,214 Nine months ended September 30, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 531 531 — — — Total commercial — — 531 531 — — — Consumer: Real estate 1-4 family first mortgage 15,789 14,786 22,043 52,618 3,438 3.20 29,400 Real estate 1-4 family junior lien mortgage 2,761 5,278 5,294 13,333 2,568 5.17 7,844 Trial modifications (6) — — 2,449 2,449 — — — Total consumer 18,550 20,064 29,786 68,400 6,006 4.88 37,244 Total $ 18,550 20,064 30,317 68,931 6,006 4.88 % $ 37,244 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs with multiple types of concessions are presented only once in the table in the first category type based on the order presented. The reported amounts include loans remodified of $5.2 million and $3.3 million for the quarters ended September 30, 2015 and 2014 , and $13.2 million and $16.3 million for the nine months ended 2015 and 2014 , respectively. (2) Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate. (3) Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate. (4) Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $1.1 million and $724 thousand for the quarters ended September 30, 2015 and 2014 , and $2.3 million and $4.0 million for the nine months ended 2015 and 2014 respectively. (5) Reflects the effect of reduced interest rates on loans with an interest rate concession as one of their concession types, which includes loans reported as a principal primary modification type that also have an interest rate concession. (6) Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period.
Troubled Debt Restructuring, Current Defaults	The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We report these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment. Recorded investment of defaults Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Commercial: Commercial and industrial $ — — — — Secured by real estate — — — 186 Total commercial — — — 186 Consumer: Real estate 1-4 family first mortgage 1,797 470 4,264 2,126 Real estate 1-4 family junior lien mortgage 383 174 814 1,665 Total consumer 2,180 644 5,078 3,791 Total $ 2,180 644 5,078 3,977

Fair Values of Assets and Lia16

Fair Values of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Estimated for Financial Instruments Not Carried at Fair Value	The table below is a summary of fair value estimates by level for financial instruments. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. We have not included assets and liabilities that are not financial instruments in our disclosure, such as other assets and other liabilities. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. Carrying amount Estimated fair value (in thousands) Level 1 Level 2 Level 3 Total September 30, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 13,020,509 — — 13,895,139 13,895,139 Financial liabilities Line of credit with Bank (1) 749,577 — — 749,577 749,577 December 31, 2014 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 12,764,840 — — 13,721,645 13,721,645 Financial liabilities Line of credit with Bank (1) 496,692 — — 496,692 496,692 (1) Amounts consist of financial instruments in which carrying value approximates fair value. (2) Carrying amount reflects net discount and allowance for loan losses.

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Summary of preferred stock and common stock	The following table provides details of our authorized common and preferred stock. September 30, 2015 and December 31, 2014 Liquidation Shares Shares Par value Carrying Preferred stock: Series A 6.375%, Cumulative, Perpetual Series A Preferred Stock $ 25 11,000,000 11,000,000 $ 0.01 110,000 Series B $85 Annual Dividend Per Share, Cumulative, Perpetual Series B Preferred Stock 1,000 1,000 667 0.01 7 Common stock (1) 100,000,000 12,900,000 0.01 129,000 Total 111,001,000 23,900,667 $ 239,007 (1) All common share and per share disclosures reflect the 20,000 -for-one stock split of the common shares effected in the form of a stock dividend of 19,999 common shares issued for each common share outstanding, paid on June 1, 2015.

Transactions with Related Par18

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Transactions with Related Parties	The principal items related to transactions with affiliated parties included in the accompanying statement of income and balance sheet are described in the table and narrative below. Quarter ended September 30, Nine months ended September 30, (in thousands) 2015 2014 2015 2014 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 20,926 14,679 62,904 45,445 Interest on deposits — — 304 42 Total interest income 20,926 14,679 63,208 45,487 Pledge fees 1,538 — 1,856 — Interest expense 377 277 644 1,037 Loan servicing costs 9,074 8,160 26,598 23,717 Management fees 2,871 821 8,328 2,280 (in thousands) Sep 30, Dec 31, Balance sheet related data Loan acquisitions (year-to-date) (1) $ 2,495,142 2,566,372 Loan sales (year-to-date) (9,991 ) (23,496 ) Pledged loans (carrying value) (2) 5,802,073 — Foreclosed asset sales (year-to-date) (9,374 ) (14,971 ) Line of credit with Bank 749,577 496,692 Accounts receivable - affiliates, net 100,306 54,424 (1) Includes accrued interest, see Note 2 (Loans and Allowance for Credit Losses) for additional details. (2) The fair value of pledged loans was approximately $6.2 billion at September 30, 2015 .

Loans and Allowance for Credi19

Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Deferred Income	$ 322,700	$ 347,100
Total loans	13,151,348	12,949,277
Total commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,686,261	3,179,665
Commercial and industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	42,993	58,559
Secured by real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,643,268	3,121,106
Total consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,465,087	9,769,612
Real estate 1-4 family first mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,993,388	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,471,699	$ 1,746,318
California, Florida, New Jersey, Pennsylvania, North Carolina [Member] | Geographic Concentration Risk [Member] | Loans And Leases Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	44.00%

Loans and Allowance for Credi20

Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest in loan purchases	$ 1,900	$ 2,400	$ 5,900	$ 5,000
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	794,475	886,404	2,495,142	1,765,376
Loan sales	(3,457)	(3,932)	(9,991)	(19,359)
Total commercial [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	0	0	0	0
Loan sales	0	0	(550)	(493)
Loans and Leases Receivable, Commitment to Lend	380,700		380,700		$ 413,500
Total consumer [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	794,475	886,404	2,495,142	1,765,376
Loan sales	$ (3,457)	$ (3,932)	$ (9,441)	$ (18,866)

Loans and Allowance for Credi21

Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 164,494	$ 212,535	$ 185,174	$ 244,269
Provision (reversal of provision) for credit losses	(23,023)	(3,548)	(23,914)	4,380
Interest income on certain impaired loans	(1,121)	(927)	(3,470)	(2,886)
Loan charge-offs	(13,554)	(17,495)	(39,915)	(64,546)
Loan recoveries	4,673	4,283	13,594	13,631
Net loan charge-offs	(8,881)	(13,212)	(26,321)	(50,915)
Balance, end of period	131,469	194,848	131,469	194,848
Components:
Allowance for loan losses					$ 130,839	$ 184,437	$ 194,039
Allowance for unfunded credit commitments					630		809
Allowance for credit losses	$ 164,494	$ 212,535	$ 185,174	$ 244,269	$ 131,469	185,174	$ 194,848
Net loan charge-offs (annualized) as a percentage of average total loans	0.27%	0.41%	0.28%	0.54%
Allowance for loan losses as a percentage of total loans					0.99%		1.50%
Allowance for credit losses as a percentage of total loans					1.00%		1.51%
Total commercial [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 18,806	$ 25,230	$ 19,476	$ 26,145
Provision (reversal of provision) for credit losses	(291)	(2,071)	(607)	(2,694)
Interest income on certain impaired loans	0	0	0	0
Loan charge-offs	(113)	(218)	(476)	(519)
Loan recoveries	291	2	300	11
Net loan charge-offs	178	(216)	(176)	(508)
Balance, end of period	18,693	22,943	18,693	22,943
Components:
Allowance for credit losses	18,806	25,230	19,476	26,145	$ 18,693	19,476	$ 22,943
Commercial and industrial [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	0	0	0	0
Loan recoveries	0	0	0	0
Secured by real estate [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(113)	(218)	(476)	(519)
Loan recoveries	291	2	300	11
Total consumer [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	145,688	187,305	165,698	218,124
Provision (reversal of provision) for credit losses	(22,732)	(1,477)	(23,307)	7,074
Interest income on certain impaired loans	(1,121)	(927)	(3,470)	(2,886)
Loan charge-offs	(13,441)	(17,277)	(39,439)	(64,027)
Loan recoveries	4,382	4,281	13,294	13,620
Net loan charge-offs	(9,059)	(12,996)	(26,145)	(50,407)
Balance, end of period	112,776	171,905	112,776	171,905
Components:
Allowance for credit losses	145,688	187,305	165,698	218,124	$ 112,776	$ 165,698	$ 171,905
Real estate 1-4 family first mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(6,757)	(6,883)	(17,110)	(25,531)
Loan recoveries	1,201	1,063	3,789	5,236
Real estate 1-4 family junior lien mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(6,684)	(10,394)	(22,329)	(38,496)
Loan recoveries	$ 3,181	$ 3,218	$ 9,505	$ 8,384

Loans and Allowance for Credi22

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 164,494	$ 212,535	$ 185,174	$ 244,269
Provision (reversal of provision) for credit losses	(23,023)	(3,548)	(23,914)	4,380
Interest income on certain impaired loans	(1,121)	(927)	(3,470)	(2,886)
Loan charge-offs	(13,554)	(17,495)	(39,915)	(64,546)
Loan recoveries	4,673	4,283	13,594	13,631
Net loan charge-offs	(8,881)	(13,212)	(26,321)	(50,915)
Balance, end of period	131,469	194,848	131,469	194,848
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	18,806	25,230	19,476	26,145
Provision (reversal of provision) for credit losses	(291)	(2,071)	(607)	(2,694)
Interest income on certain impaired loans	0	0	0	0
Loan charge-offs	(113)	(218)	(476)	(519)
Loan recoveries	291	2	300	11
Net loan charge-offs	178	(216)	(176)	(508)
Balance, end of period	18,693	22,943	18,693	22,943
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	145,688	187,305	165,698	218,124
Provision (reversal of provision) for credit losses	(22,732)	(1,477)	(23,307)	7,074
Interest income on certain impaired loans	(1,121)	(927)	(3,470)	(2,886)
Loan charge-offs	(13,441)	(17,277)	(39,439)	(64,027)
Loan recoveries	4,382	4,281	13,294	13,620
Net loan charge-offs	(9,059)	(12,996)	(26,145)	(50,407)
Balance, end of period	$ 112,776	$ 171,905	$ 112,776	$ 171,905

Loans and Allowance for Credi23

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Credit Impairment Methodology (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Allowance for credit losses
Collectively evaluated	$ 53,020		$ 71,534
Individually evaluated	78,449		113,640
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	131,469	$ 164,494	185,174	$ 194,848	$ 212,535	$ 244,269
Recorded investment in loans
Collectively evaluated	12,611,963		12,391,070
Individually evaluated	516,538		528,391
Purchased credit-impaired (PCI)	22,847		29,816
Total loans	13,151,348		12,949,277
Commercial Portfolio Segment [Member]
Allowance for credit losses
Collectively evaluated	16,673		17,535
Individually evaluated	2,020		1,941
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	18,693	18,806	19,476	22,943	25,230	26,145
Recorded investment in loans
Collectively evaluated	2,674,353		3,172,418
Individually evaluated	10,710		5,127
Purchased credit-impaired (PCI)	1,198		2,120
Total loans	2,686,261		3,179,665
Consumer Portfolio Segment [Member]
Allowance for credit losses
Collectively evaluated	36,347		53,999
Individually evaluated	76,429		111,699
Purchased credit-impaired (PCI)	0		0
Allowance for credit losses	112,776	$ 145,688	165,698	$ 171,905	$ 187,305	$ 218,124
Recorded investment in loans
Collectively evaluated	9,937,610		9,218,652
Individually evaluated	505,828		523,264
Purchased credit-impaired (PCI)	21,649		27,696
Total loans	$ 10,465,087		$ 9,769,612

Loans and Allowance for Credi24

Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 13,151,348	$ 12,949,277
Total commercial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,686,261	3,179,665
Total commercial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,658,680	3,158,455
Total commercial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	27,581	21,210
Commercial and industrial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	42,993	58,559
Commercial and industrial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	42,971	58,559
Commercial and industrial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	22	0
Secured by real estate [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,643,268	3,121,106
Secured by real estate [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,615,709	3,099,896
Secured by real estate [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 27,559	$ 21,210

Loans and Allowance for Credi25

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
By delinquency status:
Nonaccrual loans	$ 285,641	$ 321,448
Total loans	13,151,348	12,949,277
Total commercial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,673,144	3,171,550
30-89 DPD and still accruing	2,978	3,901
90 days and more past due and still accruing	975	0
Nonaccrual loans	9,164	4,214
Total loans	2,686,261	3,179,665
Commercial and industrial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	42,993	58,559
30-89 DPD and still accruing	0	0
90 days and more past due and still accruing	0	0
Nonaccrual loans	0	0
Total loans	42,993	58,559
Secured by real estate [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,630,151	3,112,991
30-89 DPD and still accruing	2,978	3,901
90 days and more past due and still accruing	975	0
Nonaccrual loans	9,164	4,214
Total loans	$ 2,643,268	$ 3,121,106

Loans and Allowance for Credi26

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
By delinquency status:
Total loans	$ 13,151,348	$ 12,949,277
Total consumer [Member]
By delinquency status:
Current-29 DPD	10,231,023	9,489,828
30-59 DPD	60,679	66,630
60-89 DPD	31,625	37,550
90-119 DPD	15,928	20,905
120-179 DPD	18,215	29,903
180 or more DPD	120,468	138,415
Remaining PCI accounting adjustments	(12,851)	(13,619)
Total loans	10,465,087	9,769,612
Real estate 1-4 family first mortgage [Member]
By delinquency status:
Current-29 DPD	8,822,137	7,819,624
30-59 DPD	40,474	43,991
60-89 DPD	21,734	24,190
90-119 DPD	9,136	12,856
120-179 DPD	11,197	19,552
180 or more DPD	98,691	114,508
Remaining PCI accounting adjustments	(9,981)	(11,427)
Total loans	8,993,388	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
By delinquency status:
Current-29 DPD	1,408,886	1,670,204
30-59 DPD	20,205	22,639
60-89 DPD	9,891	13,360
90-119 DPD	6,792	8,049
120-179 DPD	7,018	10,351
180 or more DPD	21,777	23,907
Remaining PCI accounting adjustments	(2,870)	(2,192)
Total loans	$ 1,471,699	$ 1,746,318

Loans and Allowance for Credi27

Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
By updated FICO:
Total loans	$ 13,151,348	$ 12,949,277
Total consumer [Member]
By updated FICO:
Less than 600	434,383	559,606
600-639	334,387	384,818
640-679	632,804	663,380
680-719	1,144,737	1,270,270
720-759	1,741,439	1,780,176
760-799	4,092,056	3,332,198
800 and greater	1,987,994	1,683,972
No FICO available	110,138	108,811
Remaining PCI accounting adjustments	(12,851)	(13,619)
Total loans	10,465,087	9,769,612
Real estate 1-4 family first mortgage [Member]
By updated FICO:
Less than 600	283,746	352,071
600-639	217,671	261,911
640-679	446,070	462,643
680-719	889,733	974,778
720-759	1,456,316	1,425,335
760-799	3,784,151	2,970,256
800 and greater	1,835,683	1,498,996
No FICO available	89,999	88,731
Remaining PCI accounting adjustments	(9,981)	(11,427)
Total loans	8,993,388	8,023,294
Real estate 1-4 family junior lien mortgage [Member]
By updated FICO:
Less than 600	150,637	207,535
600-639	116,716	122,907
640-679	186,734	200,737
680-719	255,004	295,492
720-759	285,123	354,841
760-799	307,905	361,942
800 and greater	152,311	184,976
No FICO available	20,139	20,080
Remaining PCI accounting adjustments	(2,870)	(2,192)
Total loans	$ 1,471,699	$ 1,746,318

Loans and Allowance for Credi28

Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
High Value Properties, Threshold	$ 1,000,000
By LTV/CLTV:
Total loans	13,151,348,000	$ 12,949,277,000
Total consumer [Member]
By LTV/CLTV:
0-60%	4,893,746,000	4,477,787,000
60.01-80%	3,968,086,000	3,404,147,000
80.01-100%	1,110,702,000	1,254,675,000
100.01-120%	313,263,000	413,672,000
Greater than 120%	158,957,000	191,974,000
No LTV/CLTV available	33,184,000	40,976,000
Remaining PCI accounting adjustments	(12,851,000)	(13,619,000)
Total loans	10,465,087,000	9,769,612,000
Real estate 1-4 family first mortgage [Member]
By LTV/CLTV:
0-60%	4,473,472,000	4,007,543,000
60.01-80%	3,592,191,000	2,958,255,000
80.01-100%	729,697,000	801,111,000
100.01-120%	116,861,000	164,249,000
Greater than 120%	60,216,000	64,619,000
No LTV/CLTV available	30,932,000	38,944,000
Remaining PCI accounting adjustments	(9,981,000)	(11,427,000)
Total loans	8,993,388,000	8,023,294,000
Real estate 1-4 family junior lien mortgage [Member]
By LTV/CLTV:
0-60%	420,274,000	470,244,000
60.01-80%	375,895,000	445,892,000
80.01-100%	381,005,000	453,564,000
100.01-120%	196,402,000	249,423,000
Greater than 120%	98,741,000	127,355,000
No LTV/CLTV available	2,252,000	2,032,000
Remaining PCI accounting adjustments	(2,870,000)	(2,192,000)
Total loans	$ 1,471,699,000	$ 1,746,318,000

Loans and Allowance for Credi29

Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Nonaccrual Loans [Abstract]
Nonaccrual loans	$ 285,641	$ 321,448
Total commercial [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	9,164	4,214
Commercial and industrial [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	0	0
Secured by real estate [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	9,164	4,214
Total consumer [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	276,477	317,234
Real estate 1-4 family first mortgage [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	206,821	236,859
Real estate 1-4 family junior lien mortgage [Member]
Nonaccrual Loans [Abstract]
Nonaccrual loans	$ 69,656	$ 80,375

Loans and Allowance for Credi30

Loans and Allowance for Credit Losses, 90 Days Past Due but Still Accruing (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	90 days
Financing Receivable Acquired With Deteriorated Credit Quality [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 4,600	$ 4,900
Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	9,258	10,260
Total commercial [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	975	0
Total commercial [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Commercial and industrial [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Commercial and industrial [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	0	0
Secured by real estate [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	975	0
Secured by real estate [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 0	0
Total consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	60 days
Total consumer [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 9,258	10,260
Real estate 1-4 family first mortgage [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	6,139	6,020
Real estate 1-4 family junior lien mortgage [Member] | Loans past due excluding Purchased Credit Impaired Loans [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	$ 3,119	$ 4,240
Real estate 1-4 family junior lien mortgage [Member] | Residential Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	120 days

Loans and Allowance for Credi31

Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 14,300	$ 15,100
Impaired Loans [Abstract]
Unpaid principal balance	611,900	647,657
Impaired Loans, recorded investment	516,538	528,391
Impaired Loans with related allowance for credit losses, recorded investment	368,607	395,453
Related allowance for credit losses	78,449	113,640
Total commercial [Member]
Impaired Loans [Abstract]
Unpaid principal balance	12,088	7,391
Impaired Loans, recorded investment	10,710	5,127
Impaired Loans with related allowance for credit losses, recorded investment	10,710	5,127
Related allowance for credit losses	2,020	1,941
Commercial and industrial [Member]
Impaired Loans [Abstract]
Unpaid principal balance	0	0
Impaired Loans, recorded investment	0	0
Impaired Loans with related allowance for credit losses, recorded investment	0	0
Related allowance for credit losses	0	0
Secured by real estate [Member]
Impaired Loans [Abstract]
Unpaid principal balance	12,088	7,391
Impaired Loans, recorded investment	10,710	5,127
Impaired Loans with related allowance for credit losses, recorded investment	10,710	5,127
Related allowance for credit losses	2,020	1,941
Total consumer [Member]
Impaired Loans [Abstract]
Unpaid principal balance	599,812	640,266
Impaired Loans, recorded investment	505,828	523,264
Impaired Loans with related allowance for credit losses, recorded investment	357,897	390,326
Related allowance for credit losses	76,429	111,699
Real estate 1-4 family first mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	466,655	483,084
Impaired Loans, recorded investment	386,513	397,858
Impaired Loans with related allowance for credit losses, recorded investment	259,252	283,549
Related allowance for credit losses	46,179	68,589
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	133,157	157,182
Impaired Loans, recorded investment	119,315	125,406
Impaired Loans with related allowance for credit losses, recorded investment	98,645	106,777
Related allowance for credit losses	$ 30,250	$ 43,110

Loans and Allowance for Credi32

Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	$ 519,842	$ 536,695	$ 522,679	$ 538,353
Recognized interest income	8,872	7,579	25,227	23,414
Interest income:
Cash basis of accounting	3,381	2,270	8,580	7,958
Other	5,491	5,309	16,647	15,456
Total commercial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	11,351	5,895	8,170	6,897
Recognized interest income	821	25	898	207
Commercial and industrial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	0	0	0	0
Recognized interest income	0	0	0	0
Secured by real estate [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	11,351	5,895	8,170	6,897
Recognized interest income	821	25	898	207
Total consumer [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	508,491	530,800	514,509	531,456
Recognized interest income	8,051	7,554	24,329	23,207
Real estate 1-4 family first mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	388,609	403,069	392,712	402,439
Recognized interest income	5,681	5,037	17,183	15,943
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	119,882	127,731	121,797	129,017
Recognized interest income	$ 2,370	$ 2,517	$ 7,146	$ 7,264

Loans and Allowance for Credi33

Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	$ 516,538		$ 516,538		$ 528,391
Loans remodified	5,200	$ 3,300	13,200	$ 16,300
Primary modification type
Principal	4,292	3,650	9,197	18,550
Interest rate reduction	7,328	6,175	20,121	20,064
Other concessions	5,281	12,481	23,752	30,317
Total	16,901	22,306	53,070	68,931
Financial effects of modifications
Charge-offs	$ 1,037	$ 1,186	$ 3,139	$ 6,006
Weighted average interest rate reduction	3.85%	3.93%	3.73%	4.88%
Recorded investment related to interest rate reduction	$ 10,914	$ 9,642	$ 27,214	$ 37,244
Financing Receivable Modifications Principal Forgiven	1,081	724	2,300	4,000
Total commercial [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	0	149	3,884	531
Total	0	149	3,884	531
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0
Commercial and industrial [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	0	0	0	0
Total	0	0	0	0
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0
Secured by real estate [Member]
Primary modification type
Principal	0	0	0	$ 0
Interest rate reduction	0	0	0	0
Other concessions	0	149	3,884	531
Total	0	149	3,884	531
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0
Total consumer [Member]
Primary modification type
Principal	4,292	3,650	9,197	18,550
Interest rate reduction	7,328	6,175	20,121	20,064
Other concessions	5,281	12,332	19,868	29,786
Total	16,901	22,157	49,186	68,400
Financial effects of modifications
Charge-offs	$ 1,037	$ 1,186	$ 3,139	$ 6,006
Weighted average interest rate reduction	3.85%	3.93%	3.73%	4.88%
Recorded investment related to interest rate reduction	$ 10,914	$ 9,642	$ 27,214	$ 37,244
Real estate 1-4 family first mortgage [Member]
Primary modification type
Principal	3,588	2,793	7,796	15,789
Interest rate reduction	5,887	3,934	16,405	14,786
Other concessions	4,657	6,576	14,418	22,043
Total	14,132	13,303	38,619	52,618
Financial effects of modifications
Charge-offs	$ 485	$ 490	$ 1,655	$ 3,438
Weighted average interest rate reduction	3.68%	3.29%	3.46%	3.20%
Recorded investment related to interest rate reduction	$ 8,825	$ 6,544	$ 22,467	$ 29,400
Real estate 1-4 family junior lien mortgage [Member]
Primary modification type
Principal	704	857	1,401	2,761
Interest rate reduction	1,441	2,241	3,716	5,278
Other concessions	974	1,609	3,816	5,294
Total	3,119	4,707	8,933	13,333
Financial effects of modifications
Charge-offs	$ 552	$ 696	$ 1,484	$ 2,568
Weighted average interest rate reduction	4.58%	5.26%	4.98%	5.17%
Recorded investment related to interest rate reduction	$ 2,089	$ 3,098	$ 4,747	$ 7,844
Trial modifications [Member]
Primary modification type
Principal	0	0	0	0
Interest rate reduction	0	0	0	0
Other concessions	(350)	4,147	1,634	2,449
Total	(350)	4,147	1,634	2,449
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0	$ 0
Home Affordable Modification Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	4,900		4,900		7,700
Proprietary Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	8,500		8,500		6,100
Second Lien Modification Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	879		879		1,300
Financing Receivable Accruing [Member] | Trial modifications [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	5,700		5,700		6,800
Financing Receivable Nonaccruing [Member] | Trial modifications [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	$ 8,600		$ 8,600		$ 8,300

Loans and Allowance for Credi34

Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Modifications [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables			90 days
Recorded investment of defaults	$ 2,180	$ 644	$ 5,078	$ 3,977
Total commercial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	186
Commercial and industrial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	0
Secured by real estate [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0	186
Total consumer [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	2,180	644	5,078	3,791
First Mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	1,797	470	4,264	2,126
Second Mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	$ 383	$ 174	$ 814	$ 1,665
Total consumer [Member]
Financing Receivable, Modifications [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables			60 days

Fair Value, Estimates for Finan

Fair Value, Estimates for Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage of assets measured on fair value nonrecurring basis (less than 1%)	1.00%	1.00%
Financial assets
Cash and cash equivalents	$ 0	$ 0	$ 0	$ 0
Loans, net	13,020,509	12,764,840
Carrying amount [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,020,509	12,764,840
Financial liabilities
Line of credit with Bank	749,577	496,692
Estimated fair value [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,895,139	13,721,645
Financial liabilities
Line of credit with Bank	749,577	496,692
Estimated fair value [Member] | Level 1 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	0	0
Financial liabilities
Line of credit with Bank	0	0
Estimated fair value [Member] | Level 2 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	0	0
Financial liabilities
Line of credit with Bank	0	0
Estimated fair value [Member] | Level 3 [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,895,139	13,721,645
Financial liabilities
Line of credit with Bank	$ 749,577	$ 496,692

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Shares authorized	111,001,000	111,001,000
Shares, Issued	23,900,667	23,900,667
Shares, Outstanding	23,900,667	23,900,667
Carrying value	$ 239,007	$ 239,007
Common stock (1)
Shares authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	12,900,000	12,900,000
Par value (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 129,000	$ 129,000
Common Stock, Shares, Outstanding	12,900,000	12,900,000
Common Stock [Member]
Class of Stock [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common stock (1)
Common shares issued for each common share outstanding	19,999
Series A Preferred Stock [Member]
Preferred stock:
Dividend rate, percentage	6.375%	6.375%
Liquidation preference per share (in dollars per share)	$ 25	$ 25
Shares authorized	11,000,000	11,000,000
Preferred Stock, Shares Issued	11,000,000	11,000,000
Shares outstanding	11,000,000	11,000,000
Par value per share (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 110,000	$ 110,000
Series B Preferred Stock [Member]
Preferred stock:
Dividend rate (in dollars per share)	$ 85	$ 85
Liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000
Shares authorized	1,000	1,000
Preferred Stock, Shares Issued	667	667
Shares outstanding	667	667
Par value per share (in dollars per share)	$ 0.01	$ 0.01
Carrying value	$ 7	$ 7

Transactions with Related Par37

Transactions with Related Parties (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	$ 6,200,000,000		$ 6,200,000,000
Interest income:
Total interest income	171,567,000	$ 174,020,000	506,412,000	$ 521,748,000
Interest expense	377,000	277,000	644,000	1,037,000
Loan servicing costs	9,080,000	8,172,000	26,622,000	23,752,000
Management fees	2,871,000	821,000	8,328,000	2,280,000
Balance sheet related data
Loan acquisitions (year-to-date)	794,475,000	886,404,000	2,495,142,000	1,765,376,000
Loan sales (year-to-date)	(3,457,000)	(3,932,000)	(9,991,000)	(19,359,000)
Line of credit with Bank	749,577,000		749,577,000		$ 496,692,000
Accounts receivable - affiliates, net	100,306,000		$ 100,306,000		54,424,000
Affiliated Entity [Member]
Balance sheet related data
Pledged Loans, Collateral Threshold, Percentage Of Total Assets			80.00%
Related party [Member]
Interest income:
Accretion and amortization of adjustments on loans	20,926,000	14,679,000	$ 62,904,000	45,445,000
Interest on deposits	0	0	304,000	42,000
Total interest income	20,926,000	14,679,000	63,208,000	45,487,000
Pledge fees	1,538,000	0	1,856,000	0
Interest expense	377,000	277,000	644,000	1,037,000
Loan servicing costs	9,074,000	8,160,000	26,598,000	23,717,000
Management fees	2,871,000	$ 821,000	8,328,000	$ 2,280,000
Balance sheet related data
Loan acquisitions (year-to-date)			2,495,142,000		2,566,372,000
Loan sales (year-to-date)			(9,991,000)		(23,496,000)
Pledged loans (carrying value)	5,802,073,000		5,802,073,000		0
Foreclosed asset sales (year-to-date)			(9,374,000)		(14,971,000)
Line of credit with Bank	749,577,000		749,577,000		496,692,000
Accounts receivable - affiliates, net	$ 100,306,000		$ 100,306,000		$ 54,424,000
Pledged loan annual basis point rate applied to UPB	0.11%		0.11%
Revolving Credit Facility [Member] | Affiliated Entity [Member]
Balance sheet related data
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000,000		$ 1,200,000,000
Federal Funds Effective Swap Rate [Member] | Revolving Credit Facility [Member] | Affiliated Entity [Member]
Balance sheet related data
Debt Instrument, Basis Spread on Variable Rate			0.125%