Wells Fargo Real Estate Investment (WFE) 10-K 3 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 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-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		12,900,000

Statement of Income

Statement of Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income		$ 675,905	$ 696,425	$ 298,635
Interest expense		1,231	1,397	1,210
Net interest income		674,674	695,028	297,425
Provision (reversal of provision) for credit losses		(26,330)	6,665	18,235
Net interest income after provision for credit losses		701,004	688,363	279,190
Noninterest income
Fees and other		4,905	653	225
Total noninterest income		4,905	653	225
Noninterest expense
Loan servicing costs		35,704	37,266	13,734
Management fees		11,195	3,120	2,025
Foreclosed assets		11,791	9,794	5,924
Other		1,241	872	302
Total noninterest expense		59,931	51,052	21,985
Net income		645,978	637,964	257,430
Comprehensive income		645,978	637,964	257,430
Dividends on preferred stock		17,588	1,079	57
Net income applicable to common stock		$ 628,390	$ 636,885	$ 257,373
Per common share information (1)
Earnings per common share (in dollars per share)	[1]	$ 48.71	$ 49.37	$ 19.95
Diluted earnings per common share (in dollars per share)	[1]	48.71	49.37	19.95
Dividends declared per common share (in dollars per share)	[1]	$ 44.34	$ 46.74	$ 24.81
Average common shares outstanding (in shares)		12,900,000	12,900,000	12,900,000
Diluted average common shares outstanding (in shares)		12,900,000	12,900,000	12,900,000
[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) - Common Stock [Member]	12 Months Ended
	Dec. 31, 2015shares
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Stock Issued During Period, Shares, Stock Splits	19,999

Balance Sheet

Balance Sheet - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents		$ 0	$ 0
Loans, net of unearned income		13,256,180	12,949,277
Allowance for loan losses		(120,866)	(184,437)
Net loans		13,135,314	12,764,840
Accounts receivable - affiliates, net		70,982	54,424
Other assets		38,572	40,141
Total assets		13,244,868	12,859,405
Liabilities
Line of credit with Bank		828,149	496,692
Other liabilities		3,812	6,196
Total liabilities		831,961	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)	[1]	129	129
Additional paid-in capital (1)	[1]	12,550,822	12,550,822
Retained earnings (deficit)		(138,154)	(194,544)
Total stockholders’ equity		12,412,907	12,356,517
Total liabilities and stockholders’ equity		$ 13,244,868	$ 12,859,405
[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.

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical)	12 Months Ended
	Dec. 31, 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 issued	12,900,000	12,900,000
Common stock, shares outstanding	12,900,000	12,900,000
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Stock Issued During Period, Shares, Stock Splits	19,999

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands		Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]Preferred Stock [Member]	Series A Preferred Stock [Member]Additional Paid-in Capital [Member]	Series A Preferred Stock [Member]Retained Earnings (Deficit) [Member]	Series B Preferred Stock [Member]	Series B Preferred Stock [Member]Retained Earnings (Deficit) [Member]
Beginning balance at Dec. 31, 2012		$ 3,662,622	$ 0	$ 129	$ 3,828,295	$ (165,802)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		257,430				257,430
Cash dividends
Preferred securities											$ (57)	$ (57)
Common stock	[1]	(320,000)				(320,000)
Wachovia Preferred Funding Corporation (WPFC) contributions	[2]	8,456,636			8,456,636
Ending balance at Dec. 31, 2013		12,056,631	0	129	12,284,931	(228,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		637,964				637,964
Preferred stock issued							$ 266,001	$ 110	$ 265,891
Cash dividends
Preferred securities							(1,022)			$ (1,022)	(57)	(57)
Common stock	[1]	(603,000)				(603,000)
Ending balance at Dec. 31, 2014		12,356,517	110	129	12,550,822	(194,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		645,978				645,978
Cash dividends
Preferred securities							$ (17,531)			$ (17,531)	$ (57)	$ (57)
Common stock	[1]	(572,000)				(572,000)
Ending balance at Dec. 31, 2015		$ 12,412,907	$ 110	$ 129	$ 12,550,822	$ (138,154)
[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.
[2]	Includes $7.0 billion asset contribution and $1.5 billion cash contribution from WPFC.

Statement of Changes in Stockh7

Statement of Changes in Stockholder's Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares
Common stock, dividend per share (in dollars per share)	$ 44.34	$ 46.74	$ 24.81
Assets contributed from WPFC, net of allowance for credit losses | $	$ 0	$ 0	$ 6,966,636
WPFC contribution | $	$ 0	$ 0	$ 1,490,000
Series A Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 1.59	$ 0.09
Series B Preferred Stock [Member]
Preferred stock, dividend per share (in dollars per share)	$ 85	$ 85	$ 85
Common Stock [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common shares issued for each common share outstanding | shares	19,999

Statement of Cash Flows

Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 645,978	$ 637,964	$ 257,430
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion and amortization of adjustments on loans	(82,988)	(71,317)	(11,375)
Provision (reversal of provision) for credit losses	(26,330)	6,665	18,235
Other operating activities, net	(6,000)	(8,404)	(8,109)
Net cash provided by operating activities	530,660	564,908	256,181
Increase (decrease) in cash realized from Loans:
Acquisitions	(3,303,296)	(2,566,372)	(3,862,635)
Proceeds from payments and sales	3,031,789	2,743,178	1,986,527
Net cash (used) provided by investing activities	(271,507)	176,806	(1,876,108)
Increase (decrease) in cash realized from
Draws on line of credit with Bank	1,724,934	1,912,396	2,351,355
Repayments of line of credit with Bank	(1,393,477)	(2,317,054)	(1,901,371)
WPFC contribution	0	0	1,490,000
Cash dividends paid	(590,610)	(603,057)	(320,057)
Preferred stock issued	0	266,001	0
Net cash (used) provided by financing activities	(259,153)	(741,714)	1,619,927
Net change in cash and cash equivalents	0	0	0
Cash and cash equivalents at beginning of year	0	0	0
Cash and cash equivalents at end of year	0	0	0
Change in noncash items:
Transfers from loans to foreclosed assets	11,075	13,079	2,978
Assets contributed from WPFC, net of allowance for credit losses	$ 0	$ 0	$ 6,966,636

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1: Summary of Significant Accounting Policies Wells Fargo Real Estate Investment Corporation (formerly Wachovia Real Estate Investment Corp.) (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 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. Cash and Cash Equivalents Cash and cash equivalents include cash and amounts due from banks and interest-bearing bank balances. Generally, cash and cash equivalents have maturities of three months or less, and accordingly, the carrying amount of these instruments is considered to be a reasonable estimate of fair value. Loans We have acquired, or accepted as capital contributions, participation interests in loans both secured and not secured by real estate along with other assets. We anticipate that we will acquire, or receive as capital contributions, loans or other assets from the Bank pursuant to loan participation and servicing and assignment agreements among the Bank, certain of its subsidiaries and us. Substantially all of our interests in mortgage loans and other assets have been acquired from the Bank pursuant to loan participation and servicing and assignment agreements. The Bank originated the loans, purchased them from other financial institutions or acquired them as part of the acquisition of other financial institutions. Substantially all of our loans are serviced by the Bank. In general, the Bank initially transfers participation interests in loans to a subsidiary of the Bank that does not have a direct or indirect ownership interest in us, which then transfers such participation interests to us. We may from time to time transfer such participation interests back to the subsidiary, which may ultimately transfer such interests back to the Bank. Pursuant to the terms of the relevant participation and servicing and assignment agreements, we generally may not sell, transfer, encumber, assign, pledge or hypothecate our participation interests in loans without the prior written consent of the Bank. As such, t he transfers do not qualify for sale accounting; however the assets continue to be classified as loans in our financial statements because the returns and recoverability of these non-recourse receivables are entirely dependent on the performance of the underlying loans. The Company initially measures the non-recourse receivables at the cash proceeds exchanged which represents the fair value of the transferred loans. Loans are recorded at the principal balance outstanding, net of any cumulative charge-offs and unamortized premium or discount on acquired loans. Interest income is recognized on an accrual basis. Premiums and discounts are amortized as an adjustment to the yield over the contractual life of the loan using the interest method. If a prepayment occurs on a loan, any related premium or discount is recognized as an adjustment to yield in the results of operations in the period in which the prepayment occurs. Loans acquired in a transfer, including business combinations where there is evidence of credit deterioration since origination and it is probable at the date of acquisition that we will not collect all contractually required principal and interest payments, are accounted for as purchased credit-impaired (PCI) loans. Substantially all of our PCI loans were acquired in the December 31, 2008 acquisition of Wachovia Corporation by Wells Fargo. PCI loans are initially recorded at fair value, which includes estimated future credit losses expected to be incurred over the life of the loan. Accordingly, the historical allowance for credit losses is not carried over. A nonaccretable difference is established for PCI loans to absorb losses expected on those loans at the date of acquisition. Amounts absorbed by the nonaccretable difference do not affect the income statement or the allowance for credit losses. PCI loans were less than 1 percent of total loans at December 31, 2015 and 2014 . Nonaccrual and Past Due Loans We generally place loans on nonaccrual status when: • the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any); • they are 90 days ( 120 days with respect to real estate 1-4 family first and junior lien mortgages) past due for interest or principal, unless both well-secured and in the process of collection; • part of the principal balance has been charged off; • for junior lien mortgages, we have evidence that the related first lien mortgage may be 120 days past due or in the process of foreclosure regardless of the junior lien delinquency status; or • consumer loans are discharged in bankruptcy, regardless of their delinquency status. PCI loans were written down at acquisition to fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as nonaccrual even though they may be contractually past due because we expect to fully collect the new carrying values of such loans (that is, the new cost basis arising out of purchase accounting). When we place a loan on nonaccrual status, we reverse the accrued unpaid interest receivable against interest income and suspend amortization of any net deferred fees. If the ultimate collectability of the recorded loan balance is in doubt for a nonaccrual loan, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Generally, we return a loan to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of remaining principal and interest is no longer doubtful. For modified loans, we re-underwrite at the time of a restructuring to determine if there is sufficient evidence of sustained repayment capacity based on the borrower’s financial strength, including documented income, debt to income ratios and other factors. If the borrower has demonstrated performance under the previous terms and the underwriting process shows the capacity to continue to perform under the restructured terms, the loan will generally remain in accruing status. When a loan classified as a troubled debt restructuring (TDR) performs in accordance with its modified terms, the loan either continues to accrue interest (for performing loans) or will return to accrual status after the borrower demonstrates a sustained period of performance (generally six consecutive months of payments, or equivalent, inclusive of consecutive payments made prior to the modification). Loans will be placed on nonaccrual status and a corresponding charge-off is recorded if we believe it is probable that principal and interest contractually due under the modified terms of the agreement will not be collectible. Our loans are considered past due when contractually required principal or interest payments have not been made on the due dates. Loan Charge-off Policies For commercial loans, we generally fully charge off or charge down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: • management judges the loan to be uncollectible; • repayment is deemed to be protracted beyond reasonable time frames; • the loan has been classified as a loss by either our internal loan review process or our banking regulatory agencies; • the customer has filed bankruptcy and the loss becomes evident owing to a lack of assets; or • the loan is 180 days past due unless both well-secured and in the process of collection. For consumer loans, we fully charge off or charge down to net realizable value when deemed uncollectible due to bankruptcy discharge or other factors, or no later than when the loan is 180 days past due. Impaired Loans We consider a loan to be impaired when, based on current information and events, we determine that we will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. This evaluation is generally based on delinquency information, an assessment of the borrower’s financial condition and the adequacy of collateral, if any. Our impaired loans predominantly include loans on nonaccrual status for commercial and industrial, commercial secured by real estate (CSRE) and any loans modified in a TDR, on both accrual and nonaccrual status. When we identify a loan as impaired, we generally measure the impairment, if any, based on the difference between the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount) and the present value of expected future cash flows, discounted at the loan’s effective interest rate. When the value of an impaired loan is calculated by discounting expected cash flows, interest income is recognized using the loan’s effective interest rate over the remaining life of the loan. When collateral is the sole source of repayment for the impaired loan, rather than the borrower’s income or other sources of repayment, we charge down to net realizable value. Troubled Debt Restructurings In situations where, 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 the borrower that we would not otherwise consider, the related loan is classified as a TDR. These modified terms may include rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize our economic loss and to avoid foreclosure or repossession of the collateral. For modifications where we forgive principal, the entire amount of such principal forgiveness is immediately charged off. Loans classified as TDRs, including loans in trial payment periods (trial modifications), are considered impaired loans. Other than resolutions such as foreclosures and sales, we may remove loans held for investment from TDR classification, but only if they have been refinanced or restructured at market terms and qualify as a new loan. Foreclosed Assets Foreclosed assets obtained through our lending activities predominantly include real estate. Generally, loans have been written down to their net realizable value prior to foreclosure. Any further reduction to their net realizable value is recorded with a charge to the allowance for credit losses at foreclosure. We allow up to 90 days after foreclosure to finalize determination of net realizable value. Thereafter, changes in net realizable value are recorded to foreclosed assets expense. The net realizable value of these assets is reviewed and updated periodically depending on the type of property. Allowance for Credit Losses (ACL) The ACL is management’s estimate of credit losses inherent in the loan portfolio, including unfunded credit commitments, at the balance sheet date. We have an established process to determine the appropriateness of the ACL that assesses the losses inherent in our portfolio and related unfunded credit commitments. While we attribute portions of the allowance to our respective commercial and consumer portfolio segments, the entire allowance is available to absorb credit losses inherent in the total loan portfolio and unfunded credit commitments. Our process involves procedures to appropriately consider the unique risk characteristics of our commercial and consumer loan portfolio segments. For each portfolio segment, losses are estimated collectively for groups of loans with similar characteristics, individually or pooled for impaired loans or, for PCI loans, based on the changes in cash flows expected to be collected. Our allowance levels are influenced by loan volumes, loan grade migration or delinquency status, historic loss experience influencing loss factors, and other conditions influencing loss expectations, such as economic conditions. COMMERCIAL PORTFOLIO SEGMENT ACL METHODOLOGY Generally, commercial loans are assessed for estimated losses by grading each loan using various risk factors as identified through periodic reviews. Our estimation approach for the commercial portfolio reflects the estimated probability of default in accordance with the borrower’s financial strength, and the severity of loss in the event of default, considering the quality of any underlying collateral. Probability of default and severity at the time of default are statistically derived through historical observations of default and losses after default within each credit risk rating. These loss estimates are adjusted as appropriate based on additional analysis of long-term average loss experience compared to previously forecasted losses, external loss data or other risks identified from current economic conditions and credit quality trends. The estimated probability of default and severity at the time of default are applied to loan equivalent exposures to estimate losses for unfunded credit commitments. The allowance also includes an amount for the estimated impairment on nonaccrual commercial loans and commercial loans modified in a TDR, whether on accrual or nonaccrual status. CONSUMER PORTFOLIO SEGMENT ACL METHODOLOGY For consumer loans that are not identified as a TDR, we determine the allowance predominantly on a collective basis utilizing forecasted losses to represent our best estimate of inherent loss. We pool loans, generally by product types with similar risk characteristics, such as residential real estate mortgages. As appropriate and to achieve greater accuracy, we may further stratify selected portfolios by sub-product and other predictive characteristics. Models designed for each pool are utilized to develop the loss estimates. We use assumptions for these pools in our forecast models, such as historic delinquency and default, vintage and maturation, loss severity, home price trends, unemployment trends, and other key economic variables that may influence the frequency and severity of losses in the pool. In determining the appropriate allowance attributable to our residential mortgage portfolio, we take into consideration portfolios determined to be at elevated risk, such as junior lien mortgages behind delinquent first lien mortgages. We incorporate the default rates and high severity of loss for these higher risk portfolios, including the impact of our established loan modification programs. Accordingly, the loss content associated with the effects of loan modifications and higher risk portfolios has been captured in our allowance methodology. We separately estimate impairment for consumer loans that have been modified in a TDR (including trial modifications), whether on accrual or nonaccrual status. OTHER ACL MATTERS The allowance for credit losses for both portfolio segments includes an amount for imprecision or uncertainty that may change from period to period. This amount represents management’s judgment of risks inherent in the processes and assumptions used in establishing the allowance. This imprecision considers economic environmental factors, modeling assumptions and performance, process risk, and other subjective factors, including industry trends and emerging risk assessments. Fair Value of Financial Instruments We use fair value measurements in our fair value disclosures and to record certain assets and liabilities at fair value. DETERMINATION OF FAIR VALUE We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and accordingly, do not determine fair value based upon a forced liquidation or distressed sale. Where necessary, we estimate fair value using other market observable data such as market indices, and industry ratings of underlying collateral or models employing techniques such as discounted cash flow analyses. The assumptions we use in the models, which typically include assumptions for interest rates, credit losses and prepayments, are verified against market observable data where possible. We apply market observable real estate data in valuing instruments where the underlying collateral is real estate or where the fair value of an instrument being valued highly correlates to real estate prices. Where appropriate, we may use a combination of these valuation approaches. Where the market price of the same or similar instruments is not available, the valuation of financial instruments becomes more subjective and involves a high degree of judgment. Where modeling techniques are used, the models are subject to validation procedures by our internal valuation model validation group in accordance with risk management policies and procedures. 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. FAIR VALUE HIERARCHY We group our assets and liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - Valuation is generated from techniques that use significant assumptions that are not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. In the determination of the classification of financial instruments in Level 2 or Level 3 of the fair value hierarchy, we consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs used. Based upon the specific facts and circumstances of each instrument or instrument category, we make judgments regarding the significance of the Level 3 inputs to the instruments' fair value measurement in its entirety. If Level 3 inputs are considered significant, the instrument is classified as Level 3. Income Taxes We are taxed as a REIT under relevant sections of the Internal Revenue Code of 1986 (the Code). A REIT is generally not subject to federal income tax to the extent it complies with the relevant provisions of the Code, including distributing the majority of its taxable earnings to shareholders, and as long as certain asset, income and stock ownership tests are met. For the tax years ended December 31, 2015 and 2014 , we complied with these provisions and are not subject to federal income tax. As a REIT, dividends paid on preferred and common shares generally constitute ordinary income to the shareholder. However, distributions paid on common shares in excess of REIT taxable income, computed without regard to the dividends paid deduction, do not qualify as dividend income, and instead constitute a return of capital. In the event we do not continue to qualify as a REIT, earnings and cash provided by operating activities available for distribution to shareholders would be reduced by the amount of any applicable income tax obligation. The preferred and common dividends we pay as a REIT are ordinary investment income not eligible for the dividends received deduction for corporate shareholders or for the favorable qualified dividend tax rate applicable to non-corporate taxpayers. If we were not a REIT, preferred and common dividends we pay generally would qualify for the dividends received deduction for corporate shareholders and the favorable qualified dividend tax rate applicable to non-corporate taxpayers. We file a separate federal income tax return and therefore are not included in the Wells Fargo consolidated tax returns or subject to the allocation of federal income tax liability (benefit) resulting from these consolidated tax returns. In addition, we will file unitary state income tax returns along with other subsidiaries of Wells Fargo. We evaluate uncertain tax positions in accordance with FASB ASC 740, Income Taxes . Based upon our current evaluation, we have concluded that there are no significant uncertain tax positions relevant to the jurisdictions where we are required to file income tax returns requiring recognition in the financial statements at December 31, 2015 and 2014 . We are not subject to federal income tax examinations for tax years prior to 2012 or, with few exceptions, state examinations prior to 2009. Earnings Per Common Share We compute basic earnings per share by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. We compute diluted earnings per share by dividing income available to common stockholders by the sum of the weighted average number of shares adjusted to include the effect of potentially dilutive shares. Income available to common stockholders is computed as net income less dividends on preferred stock. There were no potentially dilutive shares in any period presented and accordingly, basic and diluted earnings per share are the same. Retained Earnings (Deficit) We expect to distribute annually an aggregate amount of dividends with respect to outstanding capital stock equal to approximately 100 percent of our REIT taxable income for federal income tax purposes. Because our net income determined under GAAP may vary from the determination of REIT taxable income, periodic distributions may exceed our GAAP net income. The retained deficit included within our balance sheet results from cumulative distributions that have exceeded GAAP net income, primarily due to the impact on REIT taxable income of purchase accounting adjustments attributable to the Company from the 2008 acquisition of Wachovia Corporation by Wells Fargo. The remaining purchase accounting adjustments at December 31, 2015 and 2014 , are not significant . Subsequent Events We have evaluated the effects of subsequent events that have occurred subsequent to December 31, 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	12 Months Ended
	Dec. 31, 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. Underlying loans are concentrated primarily in California, New Jersey, Florida, Pennsylvania and Virginia. These markets include approximately 42% of our total loan balance at December 31, 2015 . The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $301.3 million and $347.1 million at December 31, 2015 and December 31, 2014 , respectively, which were predominantly all unamortized discounts and premiums. December 31, (in thousands) 2015 2014 2013 Commercial: Commercial and industrial $ 46,712 58,559 80,053 Secured by real estate 2,871,021 3,121,106 2,859,662 Total commercial 2,917,733 3,179,665 2,939,715 Consumer: Real estate 1-4 family first mortgage 8,950,429 8,023,294 8,029,146 Real estate 1-4 family junior lien mortgage 1,388,018 1,746,318 2,151,480 Total consumer 10,338,447 9,769,612 10,180,626 Total loans $ 13,256,180 12,949,277 13,120,341 The following table summarizes the proceeds paid (including accrued interest receivable of $6.8 million and $5.6 million in 2015 and 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Year ended December 31, Loan acquisitions $ 399,222 2,904,074 3,303,296 800,996 1,765,376 2,566,372 Loan sales (550 ) (11,201 ) (11,751 ) (493 ) (23,003 ) (23,496 ) Commitments to Lend See Note 3 (Commitments, Guarantees and Other Matters) for more information about our commitments to lend. Pledged Loans See Note 6 (Transactions With Related Parties) for additional details on our agreement with the Bank to pledge loans. 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: Year ended December 31, (in thousands) 2015 2014 2013 2012 Balance, beginning of year $ 185,174 244,269 65,459 68,535 Provision (reversal of provision) for credit losses (26,330 ) 6,665 18,235 45,376 Interest income on certain impaired loans (1) (4,936 ) (3,729 ) (1,865 ) (1,590 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (532 ) (531 ) (55 ) (1,719 ) Total commercial (532 ) (531 ) (55 ) (1,719 ) Consumer: Real estate 1-4 family first mortgage (21,345 ) (32,162 ) (17,644 ) (19,417 ) Real estate 1-4 family junior lien mortgage (29,366 ) (47,352 ) (23,638 ) (29,479 ) Total consumer (50,711 ) (79,514 ) (41,282 ) (48,896 ) Total loan charge-offs (51,243 ) (80,045 ) (41,337 ) (50,615 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 823 292 246 1,464 Total commercial 823 292 246 1,464 Consumer: Real estate 1-4 family first mortgage 4,994 6,709 2,334 523 Real estate 1-4 family junior lien mortgage 13,056 11,013 4,131 1,766 Total consumer 18,050 17,722 6,465 2,289 Total loan recoveries 18,873 18,014 6,711 3,753 Net loan charge-offs (32,370 ) (62,031 ) (34,626 ) (46,862 ) Allowance related to loan contribution — — 197,066 — Balance, end of year $ 121,538 185,174 244,269 65,459 Components: Allowance for loan losses $ 120,866 184,437 243,752 65,340 Allowance for unfunded credit commitments 672 737 517 119 Allowance for credit losses $ 121,538 185,174 244,269 65,459 Net loan charge-offs as a percentage of average total loans 0.25 % 0.49 0.62 1.43 Allowance for loan losses as a percentage of total loans 0.91 1.42 1.86 1.59 Allowance for credit losses as a percentage of total loans 0.92 1.43 1.86 1.59 (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. Year ended December 31, (in thousands) Commercial Consumer Total 2015 Balance, beginning of year $ 19,476 165,698 185,174 Reversal of provision for credit losses (2,091 ) (24,239 ) (26,330 ) Interest income on certain impaired loans — (4,936 ) (4,936 ) Loan charge-offs (532 ) (50,711 ) (51,243 ) Loan recoveries 823 18,050 18,873 Net loan charge-offs 291 (32,661 ) (32,370 ) Balance, end of year $ 17,676 103,862 121,538 2014 Balance, beginning of year $ 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (6,430 ) 13,095 6,665 Interest income on certain impaired loans — (3,729 ) (3,729 ) Loan charge-offs (531 ) (79,514 ) (80,045 ) Loan recoveries 292 17,722 18,014 Net loan charge-offs (239 ) (61,792 ) (62,031 ) Balance, end of year $ 19,476 165,698 185,174 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 December 31, 2015 Collectively evaluated (1) $ 16,893 30,187 47,080 2,913,168 9,818,236 12,731,404 Individually evaluated (2) 783 73,675 74,458 3,378 499,865 503,243 Purchased credit-impaired (PCI) (3) — — — 1,187 20,346 21,533 Total $ 17,676 103,862 121,538 2,917,733 10,338,447 13,256,180 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 September 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 December 31, 2015 By risk category: Pass $ 46,712 2,848,613 2,895,325 Criticized — 22,408 22,408 Total commercial loans $ 46,712 2,871,021 2,917,733 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 December 31, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 46,712 2,866,076 2,912,788 30-89 DPD and still accruing — 12 12 90+ DPD and still accruing — 3,227 3,227 Nonaccrual loans — 1,706 1,706 Total commercial loans $ 46,712 2,871,021 2,917,733 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 December 31, 2015 By delinquency status: Current-29 DPD $ 8,776,254 1,328,855 10,105,109 30-59 DPD 42,987 19,275 62,262 60-89 DPD 24,004 9,049 33,053 90-119 DPD 14,201 5,100 19,301 120-179 DPD 14,976 6,804 21,780 180+ DPD 88,064 21,952 110,016 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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 December 31, 2015 By updated FICO: < 600 $ 262,799 141,809 404,608 600-639 214,494 108,603 323,097 640-679 431,433 181,071 612,504 680-719 860,106 239,838 1,099,944 720-759 1,433,933 270,970 1,704,903 760-799 3,696,156 282,387 3,978,543 800+ 1,952,028 146,248 2,098,276 No FICO available 109,537 20,109 129,646 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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 December 31, 2015 By LTV/CLTV: 0-60% $ 4,408,951 381,782 4,790,733 60.01-80% 3,628,951 355,758 3,984,709 80.01-100% 718,484 352,406 1,070,890 100.01-120% (1) 125,295 196,760 322,055 > 120% (1) 55,217 101,808 157,025 No LTV/CLTV available 23,588 2,521 26,109 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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. December 31, (in thousands) 2015 2014 Commercial: Commercial and industrial $ — — Secured by real estate 1,706 4,214 Total commercial 1,706 4,214 Consumer: Real estate 1-4 family first mortgage 201,531 236,859 Real estate 1-4 family junior lien mortgage 64,718 80,375 Total consumer 266,249 317,234 Total nonaccrual loans (excluding PCI) $ 267,955 321,448 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 $4.4 million at December 31, 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. December 31, (in thousands) 2015 2014 Commercial: Commercial and industrial $ — — Secured by real estate 2,252 — Total commercial 2,252 — Consumer: Real estate 1-4 family first mortgage 8,365 6,020 Real estate 1-4 family junior lien mortgage 2,462 4,240 Total consumer 10,827 10,260 Total past due (excluding PCI) $ 13,079 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 $15.7 million at December 31, 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 December 31, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 4,097 3,378 3,378 783 Total commercial 4,097 3,378 3,378 783 Consumer: Real estate 1-4 family first mortgage 461,186 382,596 256,669 44,077 Real estate 1-4 family junior lien mortgage 130,787 117,269 96,511 29,598 Total consumer 591,973 499,865 353,180 73,675 Total impaired loans (excluding PCI) $ 596,070 503,243 356,558 74,458 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. Year ended December 31, 2015 2014 2013 (in thousands) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — Secured by real estate 7,156 1,093 6,486 231 1,585 18 Total commercial 7,156 1,093 6,486 231 1,585 18 Consumer: Real estate 1-4 family first mortgage 390,866 23,030 403,050 20,676 133,483 9,059 Real estate 1-4 family junior lien mortgage 120,896 9,600 128,374 9,754 38,257 3,186 Total consumer 511,762 32,630 531,424 30,430 171,740 12,245 Total impaired loans $ 518,918 33,723 537,910 30,661 173,325 12,263 Interest income: Cash basis of accounting $ 11,282 10,343 5,490 Other (1) 22,441 20,318 6,773 Total interest income $ 33,723 30,661 12,263 (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 December 31, 2015 , the loans in trial modification period were $7.4 million under HAMP, $663 thousand under 2MP and $7.6 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 $5.8 million at December 31, 2015 , and $6.8 million at December 31, 2014 , were accruing loans and $9.9 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. The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. 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 pay off 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) Year ended December 31, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 4,021 4,021 — — — Total commercial — — 4,021 4,021 — — — Consumer: Real estate 1-4 family first mortgage 10,707 19,157 17,975 47,839 2,155 3.53 27,879 Real estate 1-4 family junior lien mortgage 1,758 5,750 4,673 12,181 1,939 4.61 7,095 Trial modifications (6) — — 4,009 4,009 — — — Total consumer 12,465 24,907 26,657 64,029 4,094 3.75 34,974 Total $ 12,465 24,907 30,678 68,050 4,094 3.75 % $ 34,974 Year ended December 31, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — 44 531 575 — 2.00 44 Total commercial — 44 531 575 — 2.00 44 Consumer: Real estate 1-4 family first mortgage 21,822 20,195 27,422 69,439 4,379 3.16 39,262 Real estate 1-4 family junior lien mortgage 3,847 6,810 6,587 17,244 3,287 5.20 10,157 Trial modifications (6) — — (89 ) (89 ) — — — Total consumer 25,669 27,005 33,920 86,594 7,666 3.58 49,419 Total $ 25,669 27,049 34,451 87,169 7,666 3.58 % $ 49,463 Year ended December 31, 2013 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 13,904 13,471 24,853 52,228 1,881 3.23 25,783 Real estate 1-4 family junior lien mortgage 1,950 3,116 8,186 13,252 317 6.20 4,534 Trial modifications (6) — — 6,966 6,966 — — — Total consumer 15,854 16,587 40,005 72,446 2,198 3.68 30,317 Total $ 15,854 16,587 40,005 72,446 2,198 3.68 % $ 30,317 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $16.3 million , $20.5 million , and $16.7 million for the years ended December 31, 2015 , 2014 , and 2013 , 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 contractual 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 $2.8 million , $5.2 million and $3.1 million for the years ended December 31, 2015 , 2014 , and 2013 , 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 Year ended December 31, (in thousands) 2015 2014 2013 Commercial: Commercial and industrial $ — — — Secured by real estate — 335 — Total commercial — 335 — Consumer: Real estate 1-4 family first mortgage 4,971 3,352 2,687 Real estate 1-4 family junior lien mortgage 1,268 1,768 417 Total consumer 6,239 5,120 3,104 Total $ 6,239 5,455 3,104

Commitments, Guarantees and Oth

Commitments, Guarantees and Other Matters	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments, Guarantees and Other Matters	Note 3: Commitments, Guarantees and Other Matters The Company does not have any consumer lines of credit. Its commercial loan portfolio includes unfunded loan commitments that are provided in the normal course of business. For commercial borrowers, loan commitments generally take the form of revolving credit arrangements to finance their working capital requirements. These instruments are not recorded on the balance sheet until funds are advanced under the commitment. The contractual amount of a lending commitment represents the maximum potential credit risk if it is fully funded and the borrower does not perform according to the terms of the contract. Some of these commitments expire without being funded, and accordingly, total contractual amounts are not representative of actual future credit exposure or liquidity requirements. Loan commitments create credit risk in the event that the counterparty draws on the commitment and subsequently fails to perform under the terms of the lending agreement. This risk is incorporated into our overall evaluation of credit risk, and to the extent necessary, an allowance for credit losses is recorded on these commitments. Uncertainties around the timing and amount of funding under these commitments may create liquidity risk for the Company. The following table provides the contract or notional amount and the estimated fair value of commercial loan commitments to extend credit. The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the current creditworthiness of the counterparties. The estimated fair value of lending commitments represents the estimated amount that we would need to pay a third party to assume our exposure on lending commitments. Dec 31, Dec 31, (in thousands) 2015 2014 Commercial lines of credit $ 386,594 398,655 Commercial letters of credit 12,898 14,836 Total commercial loan commitments (1) $ 399,492 413,491 (1) The estimated fair value of commitments to extend credit at December 31, 2015 and 2014 , was $672 thousand and $737 thousand , respectively. As part of the loan participation and servicing and assignment agreements with the Bank, the Company provides an indemnification to the Bank if certain events occur. These contingencies generally relate to claims or judgments arising out of participated loans that are not the result of gross negligence or intentional misconduct by the Bank. We were not required to make payments under the indemnification clauses in 2015 or 2014 . Since there are no stated or notional amounts included in the indemnification clauses and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur, we are not able to estimate the maximum amount of future payments under the indemnification clauses. There are no amounts reflected on the balance sheet at December 31, 2015 and 2014 , related to these indemnifications. The Company is not currently involved in, nor, to our knowledge, currently threatened with any material litigation. From time to time we may become involved in routine litigation arising in the ordinary course of business. We do not believe that the eventual outcome of any such routine litigation will, in the aggregate, have a materially adverse effect on our financial statements. However, in the event of unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, could be material to our financial statements for any particular period.

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities	Note 4: 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. See Note 1 (Summary of Significant Accounting Policies) for additional information about our fair value measurement policies and methods. Loans We do not record loans at fair value on a recurring basis. As such, valuation techniques discussed herein for loans are primarily for disclosing estimated fair values. However, from time to time, we record nonrecurring fair value adjustments to loans to primarily reflect partial write-downs that are based on the observable market price of the loan or current appraised value of the collateral. As of December 31, 2015 and 2014 , assets measured at fair value on a nonrecurring basis were less than 1 percent of total assets. The fair value estimates for disclosure purposes differentiate loans based on their financial characteristics, such as product classification, loan category, pricing features and remaining maturity. Prepayment and credit loss estimates are evaluated by product and loan rate. The fair value of commercial loans is calculated by discounting contractual cash flows, adjusted for credit loss estimates, using discount rates that are appropriate for loans with similar characteristics and remaining maturity. For real estate 1-4 family first and junior lien mortgages, fair value is calculated by discounting contractual cash flows, adjusted for prepayment and credit loss estimates, using discount rates based on current industry pricing (where readily available) or our own estimate of an appropriate risk-adjusted discount rate for loans of similar size, type, remaining maturity and repricing characteristics. 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 December 31, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 13,135,314 — — 13,892,807 13,892,807 Financial liabilities Line of credit with Bank (1) 828,149 — — 828,149 828,149 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. Loan commitments and letters of credit are not included in the table above. See Note 3 (Commitments, Guarantees and Other Matters) for more information about these instruments.

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common and Preferred Stock	Note 5: Common and Preferred Stock The following table provides details of our authorized common and preferred stock. December 31, 2015 and 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 and 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. The certificate of designation for the Series A preferred stock limits our ability to pay dividends on our common stock or make any payment of interest or principal on our line of credit with the Bank if the dividend coverage ratio for the four prior fiscal quarters is less than 150% . The dividend coverage ratio, expressed as a percentage, is calculated by dividing the four prior fiscal quarters’ funds from operations, defined as GAAP net income excluding gains or losses from sales of property, by the amount that would be required to pay annual dividends on the Series A and Series B preferred stock. At December 31, 2015, the dividend coverage ratio was 3,673% . The certificate of designation for the Series A preferred stock also contains a covenant in which we may incur indebtedness in an aggregate amount not exceeding 20% of our stockholders’ equity. Any amount exceeding that amount requires the consent of the holders of two-thirds of the Series A preferred stock, voting as a separate class. Except upon the occurrence of a Special Event (as defined below), the Series A preferred stock is not redeemable prior to December 11, 2019. On or after such date, we may redeem the Series A preferred stock for cash, in whole or in part, at the redemption price of $25 per share, plus (a) any authorized, declared, but unpaid dividends and (b) any accumulated but unpaid dividends to the date of redemption. A Special Event, which allows redemption of the Series A preferred stock prior to December 11, 2019, means: a Tax Event, an Investment Company Act Event, or a Regulatory Event. Tax Event means our determination, based on the receipt by us of an opinion of counsel, rendered by a law firm experienced in such matters, in form and substance satisfactory to us, which states that there is a significant risk that dividends paid or to be paid by us with respect to our capital stock are not or will not be fully deductible by us for United States Federal income tax purposes or that we are or will be subject to additional taxes, duties, or other governmental charges, in an amount we reasonably determine to be significant as a result of: • any amendment to, clarification of, or change in, the laws, treaties, or related regulations of the United States or any of its political subdivisions or their taxing authorities affecting taxation; or • any judicial decision, official administrative pronouncement, published or private ruling, technical advice memorandum, Chief Counsel Advice, as such term is defined in the Code, regulatory procedure, notice, or official announcement which amendment, clarification, or change, or such official pronouncement or decision, is announced on or after the original date of issuance of the Series A preferred stock. Investment Company Act Event means our determination, based on our receipt of an opinion of counsel, rendered by a law firm experienced in such matters, in form and substance satisfactory to us, which states that there is a significant risk that we are or will be considered an “investment company” that is required to be registered under the Investment Company Act, as a result of the occurrence of a change in law or regulation or a written change in interpretation or application of law or regulation, by any legislative body, court, governmental agency, or regulatory authority. Regulatory Event means our reasonable determination, as evidenced by a certificate of one of our senior executive officers, that the Series A preferred stock remaining outstanding would (a) not be consistent with any applicable law or regulation or (b) have a material adverse effect on either us or any of Wells Fargo or the Bank (or any of their respective successors), in each case, as a result of a change in law or regulation or a written change in interpretation or application of law or regulation, by any legislative body, court, governmental agency, or regulatory authority occurring on or after the original date of issuance of the Series A preferred stock, such change in law being reflected in an opinion of counsel, in form and substance satisfactory to us. The Series B preferred stock can be redeemed in whole at any time at $1,000 per share plus any accumulated and unpaid dividends. Transfers or pledges of the Series B shares are subject to first refusal by us.

Transactions With Related Parti

Transactions With Related Parties	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Transactions With Related Parties	Note 6: Transactions With Related Parties The Company engages in various transactions and agreements with affiliated parties in the ordinary course of business. Due to the common ownership of the Company and the affiliated parties by Wells Fargo, these transactions and agreements may reflect circumstances and considerations that 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. Year ended December 31, (in thousands) 2015 2014 2013 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 82,988 64,334 10,220 Interest on deposits 304 57 237 Total interest income 83,292 64,391 10,457 Pledge fees 4,363 — — Interest expense 1,231 1,397 1,210 Loan servicing costs 35,671 37,221 13,721 Management fees 11,195 3,120 2,025 December 31, (in thousands) 2015 2014 Balance sheet related data Loan acquisitions (year-to-date) (1) $ 3,303,296 2,566,372 Loan sales (year-to-date) (11,751 ) (23,496 ) Pledged loans (carrying value) (2) 5,760,284 — Foreclosed asset sales (year-to-date) (11,137 ) (14,971 ) Line of credit with Bank 828,149 496,692 Accounts receivable - affiliates, net 70,982 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 $6.1 billion at December 31, 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 pays us a fee that is consistent with market terms. At December 31, 2015, the fee was equal to an annual rate of 28 basis points ( 0.28% ) as applied to the unpaid principal balance of pledged loans on a monthly basis. Prior to December 2015, the fee was equal to an annual rate of 11 basis points ( 0.11% ). 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.

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2015
Mortgage Loans on Real Estate [Abstract]
Mortgage Loans on Real Estate	Wells Fargo Real Estate Investment Corporation Schedule IV - Mortgage Loans on Real Estate December 31, 2015 Mortgage Loans on Real Estate (1) (dollars in thousands) Number of loans Weighted average interest rate Weighted average maturity in years Recorded investment in loans(2) Past due amounts(3) Commercial secured by real estate: Original balances less than $1,000 428 2.56 % 3.8 $ 412,526 875 Original balances $1,000 - $10,000 509 2.54 3.1 1,255,229 4,070 Original balances over $10,000 64 2.29 2.8 1,203,266 — Total commercial secured by real estate 1,001 2.44 3.1 2,871,021 4,945 Real estate 1-4 family first mortgage: Original balances less than $500 42,719 5.58 19.1 3,501,375 139,650 Original balances $500 - $1,000 6,508 4.10 25.8 3,879,795 29,920 Original balances over $1,000 1,363 3.75 24.9 1,569,259 14,662 Total real estate 1-4 family first mortgage 50,590 4.62 23.0 8,950,429 184,232 Real estate 1-4 family junior lien mortgage: Original balances less than $500 34,557 7.08 16.2 1,357,764 61,382 Original balances $500 - $1,000 53 6.02 19.2 23,891 798 Original balances over $1,000 8 5.47 18.9 6,363 — Total real estate 1-4 family junior lien mortgage 34,618 7.06 16.2 1,388,018 62,180 Total mortgage loans 86,209 4.40 18.0 $ 13,209,468 251,357 (1) Wells Fargo Real Estate Investment Corporation's mortgage portfolio consists of "Commercial secured by real estate," "Real estate 1-4 family first mortgage," and "Real estate 1-4 junior lien mortgage." None of our loans individually exceeds three percent of the total recorded investment in loans. (2) Recorded investment is net of charge-downs. Aggregate recorded investment of loans as of December 31, 2015 , for Federal income tax purposes is $13.2 billion . Recorded investment includes net related party discount of $301.3 million . (3) Amounts greater than 30 days past due. All loans were acquired from related parties. Amounts do not include purchased credit-impaired loans, which are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. Recorded Investment (1) (in thousands) 2015 2014 2013 Balance, beginning of period $ 12,890,718 13,040,288 4,065,226 Acquisitions 3,296,499 2,560,760 3,849,096 Accretion and amortization of adjustments on loans 78,108 67,592 11,361 Non-cash loan contribution from Wachovia Preferred Funding Corp. — — 7,116,854 Loan balance increases 3,374,607 2,628,352 10,977,311 Proceeds from principal payments and sales (2,993,539 ) (2,684,798 ) (1,957,934 ) Charge-offs (51,243 ) (80,045 ) (41,337 ) Transfers from loans to foreclosed assets (11,075 ) (13,079 ) (2,978 ) Loan balance decreases (3,055,857 ) (2,777,922 ) (2,002,249 ) Balance, end of period $ 13,209,468 12,890,718 13,040,288 (1) Table presents annual changes in the recorded investment in loans. All loan acquisitions and sale transactions were with related parties. See Note 1 (Summary of Significant Accounting Policies) and Note 2 (Loans and Allowance for Credit Losses) to Financial Statements for additional information on loan transactions, including term extensions in the form of TDRs.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Nature of Operations	Wells Fargo Real Estate Investment Corporation (formerly Wachovia Real Estate Investment Corp.) (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 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and amounts due from banks and interest-bearing bank balances. Generally, cash and cash equivalents have maturities of three months or less, and accordingly, the carrying amount of these instruments is considered to be a reasonable estimate of fair value.
Loans	Loans We have acquired, or accepted as capital contributions, participation interests in loans both secured and not secured by real estate along with other assets. We anticipate that we will acquire, or receive as capital contributions, loans or other assets from the Bank pursuant to loan participation and servicing and assignment agreements among the Bank, certain of its subsidiaries and us. Substantially all of our interests in mortgage loans and other assets have been acquired from the Bank pursuant to loan participation and servicing and assignment agreements. The Bank originated the loans, purchased them from other financial institutions or acquired them as part of the acquisition of other financial institutions. Substantially all of our loans are serviced by the Bank. In general, the Bank initially transfers participation interests in loans to a subsidiary of the Bank that does not have a direct or indirect ownership interest in us, which then transfers such participation interests to us. We may from time to time transfer such participation interests back to the subsidiary, which may ultimately transfer such interests back to the Bank. Pursuant to the terms of the relevant participation and servicing and assignment agreements, we generally may not sell, transfer, encumber, assign, pledge or hypothecate our participation interests in loans without the prior written consent of the Bank. As such, t he transfers do not qualify for sale accounting; however the assets continue to be classified as loans in our financial statements because the returns and recoverability of these non-recourse receivables are entirely dependent on the performance of the underlying loans. The Company initially measures the non-recourse receivables at the cash proceeds exchanged which represents the fair value of the transferred loans. Loans are recorded at the principal balance outstanding, net of any cumulative charge-offs and unamortized premium or discount on acquired loans. Interest income is recognized on an accrual basis. Premiums and discounts are amortized as an adjustment to the yield over the contractual life of the loan using the interest method. If a prepayment occurs on a loan, any related premium or discount is recognized as an adjustment to yield in the results of operations in the period in which the prepayment occurs. Loans acquired in a transfer, including business combinations where there is evidence of credit deterioration since origination and it is probable at the date of acquisition that we will not collect all contractually required principal and interest payments, are accounted for as purchased credit-impaired (PCI) loans. Substantially all of our PCI loans were acquired in the December 31, 2008 acquisition of Wachovia Corporation by Wells Fargo. PCI loans are initially recorded at fair value, which includes estimated future credit losses expected to be incurred over the life of the loan. Accordingly, the historical allowance for credit losses is not carried over. A nonaccretable difference is established for PCI loans to absorb losses expected on those loans at the date of acquisition. Amounts absorbed by the nonaccretable difference do not affect the income statement or the allowance for credit losses. PCI loans were less than 1 percent of total loans at December 31, 2015 and 2014 . Nonaccrual and Past Due Loans We generally place loans on nonaccrual status when: • the full and timely collection of interest or principal becomes uncertain (generally based on an assessment of the borrower’s financial condition and the adequacy of collateral, if any); • they are 90 days ( 120 days with respect to real estate 1-4 family first and junior lien mortgages) past due for interest or principal, unless both well-secured and in the process of collection; • part of the principal balance has been charged off; • for junior lien mortgages, we have evidence that the related first lien mortgage may be 120 days past due or in the process of foreclosure regardless of the junior lien delinquency status; or • consumer loans are discharged in bankruptcy, regardless of their delinquency status. PCI loans were written down at acquisition to fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as nonaccrual even though they may be contractually past due because we expect to fully collect the new carrying values of such loans (that is, the new cost basis arising out of purchase accounting). When we place a loan on nonaccrual status, we reverse the accrued unpaid interest receivable against interest income and suspend amortization of any net deferred fees. If the ultimate collectability of the recorded loan balance is in doubt for a nonaccrual loan, the cost recovery method is used and cash collected is applied to first reduce the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is received. Generally, we return a loan to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of remaining principal and interest is no longer doubtful. For modified loans, we re-underwrite at the time of a restructuring to determine if there is sufficient evidence of sustained repayment capacity based on the borrower’s financial strength, including documented income, debt to income ratios and other factors. If the borrower has demonstrated performance under the previous terms and the underwriting process shows the capacity to continue to perform under the restructured terms, the loan will generally remain in accruing status. When a loan classified as a troubled debt restructuring (TDR) performs in accordance with its modified terms, the loan either continues to accrue interest (for performing loans) or will return to accrual status after the borrower demonstrates a sustained period of performance (generally six consecutive months of payments, or equivalent, inclusive of consecutive payments made prior to the modification). Loans will be placed on nonaccrual status and a corresponding charge-off is recorded if we believe it is probable that principal and interest contractually due under the modified terms of the agreement will not be collectible. Our loans are considered past due when contractually required principal or interest payments have not been made on the due dates. Loan Charge-off Policies For commercial loans, we generally fully charge off or charge down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: • management judges the loan to be uncollectible; • repayment is deemed to be protracted beyond reasonable time frames; • the loan has been classified as a loss by either our internal loan review process or our banking regulatory agencies; • the customer has filed bankruptcy and the loss becomes evident owing to a lack of assets; or • the loan is 180 days past due unless both well-secured and in the process of collection. For consumer loans, we fully charge off or charge down to net realizable value when deemed uncollectible due to bankruptcy discharge or other factors, or no later than when the loan is 180 days past due. Impaired Loans We consider a loan to be impaired when, based on current information and events, we determine that we will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. This evaluation is generally based on delinquency information, an assessment of the borrower’s financial condition and the adequacy of collateral, if any. Our impaired loans predominantly include loans on nonaccrual status for commercial and industrial, commercial secured by real estate (CSRE) and any loans modified in a TDR, on both accrual and nonaccrual status. When we identify a loan as impaired, we generally measure the impairment, if any, based on the difference between the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount) and the present value of expected future cash flows, discounted at the loan’s effective interest rate. When the value of an impaired loan is calculated by discounting expected cash flows, interest income is recognized using the loan’s effective interest rate over the remaining life of the loan. When collateral is the sole source of repayment for the impaired loan, rather than the borrower’s income or other sources of repayment, we charge down to net realizable value. Troubled Debt Restructurings In situations where, 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 the borrower that we would not otherwise consider, the related loan is classified as a TDR. These modified terms may include rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize our economic loss and to avoid foreclosure or repossession of the collateral. For modifications where we forgive principal, the entire amount of such principal forgiveness is immediately charged off. Loans classified as TDRs, including loans in trial payment periods (trial modifications), are considered impaired loans. Other than resolutions such as foreclosures and sales, we may remove loans held for investment from TDR classification, but only if they have been refinanced or restructured at market terms and qualify as a new loan. Foreclosed Assets Foreclosed assets obtained through our lending activities predominantly include real estate. Generally, loans have been written down to their net realizable value prior to foreclosure. Any further reduction to their net realizable value is recorded with a charge to the allowance for credit losses at foreclosure. We allow up to 90 days after foreclosure to finalize determination of net realizable value. Thereafter, changes in net realizable value are recorded to foreclosed assets expense. The net realizable value of these assets is reviewed and updated periodically depending on the type of property. Allowance for Credit Losses (ACL) The ACL is management’s estimate of credit losses inherent in the loan portfolio, including unfunded credit commitments, at the balance sheet date. We have an established process to determine the appropriateness of the ACL that assesses the losses inherent in our portfolio and related unfunded credit commitments. While we attribute portions of the allowance to our respective commercial and consumer portfolio segments, the entire allowance is available to absorb credit losses inherent in the total loan portfolio and unfunded credit commitments. Our process involves procedures to appropriately consider the unique risk characteristics of our commercial and consumer loan portfolio segments. For each portfolio segment, losses are estimated collectively for groups of loans with similar characteristics, individually or pooled for impaired loans or, for PCI loans, based on the changes in cash flows expected to be collected. Our allowance levels are influenced by loan volumes, loan grade migration or delinquency status, historic loss experience influencing loss factors, and other conditions influencing loss expectations, such as economic conditions. COMMERCIAL PORTFOLIO SEGMENT ACL METHODOLOGY Generally, commercial loans are assessed for estimated losses by grading each loan using various risk factors as identified through periodic reviews. Our estimation approach for the commercial portfolio reflects the estimated probability of default in accordance with the borrower’s financial strength, and the severity of loss in the event of default, considering the quality of any underlying collateral. Probability of default and severity at the time of default are statistically derived through historical observations of default and losses after default within each credit risk rating. These loss estimates are adjusted as appropriate based on additional analysis of long-term average loss experience compared to previously forecasted losses, external loss data or other risks identified from current economic conditions and credit quality trends. The estimated probability of default and severity at the time of default are applied to loan equivalent exposures to estimate losses for unfunded credit commitments. The allowance also includes an amount for the estimated impairment on nonaccrual commercial loans and commercial loans modified in a TDR, whether on accrual or nonaccrual status. CONSUMER PORTFOLIO SEGMENT ACL METHODOLOGY For consumer loans that are not identified as a TDR, we determine the allowance predominantly on a collective basis utilizing forecasted losses to represent our best estimate of inherent loss. We pool loans, generally by product types with similar risk characteristics, such as residential real estate mortgages. As appropriate and to achieve greater accuracy, we may further stratify selected portfolios by sub-product and other predictive characteristics. Models designed for each pool are utilized to develop the loss estimates. We use assumptions for these pools in our forecast models, such as historic delinquency and default, vintage and maturation, loss severity, home price trends, unemployment trends, and other key economic variables that may influence the frequency and severity of losses in the pool. In determining the appropriate allowance attributable to our residential mortgage portfolio, we take into consideration portfolios determined to be at elevated risk, such as junior lien mortgages behind delinquent first lien mortgages. We incorporate the default rates and high severity of loss for these higher risk portfolios, including the impact of our established loan modification programs. Accordingly, the loss content associated with the effects of loan modifications and higher risk portfolios has been captured in our allowance methodology. We separately estimate impairment for consumer loans that have been modified in a TDR (including trial modifications), whether on accrual or nonaccrual status. OTHER ACL MATTERS The allowance for credit losses for both portfolio segments includes an amount for imprecision or uncertainty that may change from period to period. This amount represents management’s judgment of risks inherent in the processes and assumptions used in establishing the allowance. This imprecision considers economic environmental factors, modeling assumptions and performance, process risk, and other subjective factors, including industry trends and emerging risk assessments.
Fair Values of Financial Instruments	Fair Value of Financial Instruments We use fair value measurements in our fair value disclosures and to record certain assets and liabilities at fair value. DETERMINATION OF FAIR VALUE We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and accordingly, do not determine fair value based upon a forced liquidation or distressed sale. Where necessary, we estimate fair value using other market observable data such as market indices, and industry ratings of underlying collateral or models employing techniques such as discounted cash flow analyses. The assumptions we use in the models, which typically include assumptions for interest rates, credit losses and prepayments, are verified against market observable data where possible. We apply market observable real estate data in valuing instruments where the underlying collateral is real estate or where the fair value of an instrument being valued highly correlates to real estate prices. Where appropriate, we may use a combination of these valuation approaches. Where the market price of the same or similar instruments is not available, the valuation of financial instruments becomes more subjective and involves a high degree of judgment. Where modeling techniques are used, the models are subject to validation procedures by our internal valuation model validation group in accordance with risk management policies and procedures. 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. FAIR VALUE HIERARCHY We group our assets and liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - Valuation is generated from techniques that use significant assumptions that are not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. In the determination of the classification of financial instruments in Level 2 or Level 3 of the fair value hierarchy, we consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs used. Based upon the specific facts and circumstances of each instrument or instrument category, we make judgments regarding the significance of the Level 3 inputs to the instruments' fair value measurement in its entirety. If Level 3 inputs are considered significant, the instrument is classified as Level 3.
Income Taxes	Income Taxes We are taxed as a REIT under relevant sections of the Internal Revenue Code of 1986 (the Code). A REIT is generally not subject to federal income tax to the extent it complies with the relevant provisions of the Code, including distributing the majority of its taxable earnings to shareholders, and as long as certain asset, income and stock ownership tests are met. For the tax years ended December 31, 2015 and 2014 , we complied with these provisions and are not subject to federal income tax. As a REIT, dividends paid on preferred and common shares generally constitute ordinary income to the shareholder. However, distributions paid on common shares in excess of REIT taxable income, computed without regard to the dividends paid deduction, do not qualify as dividend income, and instead constitute a return of capital. In the event we do not continue to qualify as a REIT, earnings and cash provided by operating activities available for distribution to shareholders would be reduced by the amount of any applicable income tax obligation. The preferred and common dividends we pay as a REIT are ordinary investment income not eligible for the dividends received deduction for corporate shareholders or for the favorable qualified dividend tax rate applicable to non-corporate taxpayers. If we were not a REIT, preferred and common dividends we pay generally would qualify for the dividends received deduction for corporate shareholders and the favorable qualified dividend tax rate applicable to non-corporate taxpayers. We file a separate federal income tax return and therefore are not included in the Wells Fargo consolidated tax returns or subject to the allocation of federal income tax liability (benefit) resulting from these consolidated tax returns. In addition, we will file unitary state income tax returns along with other subsidiaries of Wells Fargo. We evaluate uncertain tax positions in accordance with FASB ASC 740, Income Taxes . Based upon our current evaluation, we have concluded that there are no significant uncertain tax positions relevant to the jurisdictions where we are required to file income tax returns requiring recognition in the financial statements at December 31, 2015 and 2014 . We are not subject to federal income tax examinations for tax years prior to 2012 or, with few exceptions, state examinations prior to 2009.
Earnings Per Common Share	Earnings Per Common Share We compute basic earnings per share by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. We compute diluted earnings per share by dividing income available to common stockholders by the sum of the weighted average number of shares adjusted to include the effect of potentially dilutive shares. Income available to common stockholders is computed as net income less dividends on preferred stock. There were no potentially dilutive shares in any period presented and accordingly, basic and diluted earnings per share are the same.
Retained Earnings (Deficit)	Retained Earnings (Deficit) We expect to distribute annually an aggregate amount of dividends with respect to outstanding capital stock equal to approximately 100 percent of our REIT taxable income for federal income tax purposes. Because our net income determined under GAAP may vary from the determination of REIT taxable income, periodic distributions may exceed our GAAP net income. The retained deficit included within our balance sheet results from cumulative distributions that have exceeded GAAP net income, primarily due to the impact on REIT taxable income of purchase accounting adjustments attributable to the Company from the 2008 acquisition of Wachovia Corporation by Wells Fargo. The remaining purchase accounting adjustments at December 31, 2015 and 2014 , are not significant .
Subsequent Events	Subsequent Events We have evaluated the effects of subsequent events that have occurred subsequent to December 31, 2015 . There were no subsequent events requiring adjustment to the financial statements or disclosure in the Notes to Financial Statements.

Loans and Allowance for Credi17

Loans and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 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 $301.3 million and $347.1 million at December 31, 2015 and December 31, 2014 , respectively, which were predominantly all unamortized discounts and premiums. December 31, (in thousands) 2015 2014 2013 Commercial: Commercial and industrial $ 46,712 58,559 80,053 Secured by real estate 2,871,021 3,121,106 2,859,662 Total commercial 2,917,733 3,179,665 2,939,715 Consumer: Real estate 1-4 family first mortgage 8,950,429 8,023,294 8,029,146 Real estate 1-4 family junior lien mortgage 1,388,018 1,746,318 2,151,480 Total consumer 10,338,447 9,769,612 10,180,626 Total loans $ 13,256,180 12,949,277 13,120,341
Loans and Allowance for Credit Losses, Significant Activity	The following table summarizes the proceeds paid (including accrued interest receivable of $6.8 million and $5.6 million in 2015 and 2014 , respectively) or received from the Bank for acquisitions and sales of loans, respectively. 2015 2014 (in thousands) Commercial Consumer Total Commercial Consumer Total Year ended December 31, Loan acquisitions $ 399,222 2,904,074 3,303,296 800,996 1,765,376 2,566,372 Loan sales (550 ) (11,201 ) (11,751 ) (493 ) (23,003 ) (23,496 )
Loans and Allowance for Credit Losses, Allowance for Credit Losses	Changes in the allowance for credit losses were: Year ended December 31, (in thousands) 2015 2014 2013 2012 Balance, beginning of year $ 185,174 244,269 65,459 68,535 Provision (reversal of provision) for credit losses (26,330 ) 6,665 18,235 45,376 Interest income on certain impaired loans (1) (4,936 ) (3,729 ) (1,865 ) (1,590 ) Loan charge-offs: Commercial: Commercial and industrial — — — — Secured by real estate (532 ) (531 ) (55 ) (1,719 ) Total commercial (532 ) (531 ) (55 ) (1,719 ) Consumer: Real estate 1-4 family first mortgage (21,345 ) (32,162 ) (17,644 ) (19,417 ) Real estate 1-4 family junior lien mortgage (29,366 ) (47,352 ) (23,638 ) (29,479 ) Total consumer (50,711 ) (79,514 ) (41,282 ) (48,896 ) Total loan charge-offs (51,243 ) (80,045 ) (41,337 ) (50,615 ) Loan recoveries: Commercial: Commercial and industrial — — — — Secured by real estate 823 292 246 1,464 Total commercial 823 292 246 1,464 Consumer: Real estate 1-4 family first mortgage 4,994 6,709 2,334 523 Real estate 1-4 family junior lien mortgage 13,056 11,013 4,131 1,766 Total consumer 18,050 17,722 6,465 2,289 Total loan recoveries 18,873 18,014 6,711 3,753 Net loan charge-offs (32,370 ) (62,031 ) (34,626 ) (46,862 ) Allowance related to loan contribution — — 197,066 — Balance, end of year $ 121,538 185,174 244,269 65,459 Components: Allowance for loan losses $ 120,866 184,437 243,752 65,340 Allowance for unfunded credit commitments 672 737 517 119 Allowance for credit losses $ 121,538 185,174 244,269 65,459 Net loan charge-offs as a percentage of average total loans 0.25 % 0.49 0.62 1.43 Allowance for loan losses as a percentage of total loans 0.91 1.42 1.86 1.59 Allowance for credit losses as a percentage of total loans 0.92 1.43 1.86 1.59 (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. Year ended December 31, (in thousands) Commercial Consumer Total 2015 Balance, beginning of year $ 19,476 165,698 185,174 Reversal of provision for credit losses (2,091 ) (24,239 ) (26,330 ) Interest income on certain impaired loans — (4,936 ) (4,936 ) Loan charge-offs (532 ) (50,711 ) (51,243 ) Loan recoveries 823 18,050 18,873 Net loan charge-offs 291 (32,661 ) (32,370 ) Balance, end of year $ 17,676 103,862 121,538 2014 Balance, beginning of year $ 26,145 218,124 244,269 Provision (reversal of provision) for credit losses (6,430 ) 13,095 6,665 Interest income on certain impaired loans — (3,729 ) (3,729 ) Loan charge-offs (531 ) (79,514 ) (80,045 ) Loan recoveries 292 17,722 18,014 Net loan charge-offs (239 ) (61,792 ) (62,031 ) Balance, end of year $ 19,476 165,698 185,174
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 December 31, 2015 Collectively evaluated (1) $ 16,893 30,187 47,080 2,913,168 9,818,236 12,731,404 Individually evaluated (2) 783 73,675 74,458 3,378 499,865 503,243 Purchased credit-impaired (PCI) (3) — — — 1,187 20,346 21,533 Total $ 17,676 103,862 121,538 2,917,733 10,338,447 13,256,180 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 December 31, 2015 By risk category: Pass $ 46,712 2,848,613 2,895,325 Criticized — 22,408 22,408 Total commercial loans $ 46,712 2,871,021 2,917,733 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 December 31, 2015 By delinquency status: Current-29 days past due (DPD) and still accruing $ 46,712 2,866,076 2,912,788 30-89 DPD and still accruing — 12 12 90+ DPD and still accruing — 3,227 3,227 Nonaccrual loans — 1,706 1,706 Total commercial loans $ 46,712 2,871,021 2,917,733 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 December 31, 2015 By delinquency status: Current-29 DPD $ 8,776,254 1,328,855 10,105,109 30-59 DPD 42,987 19,275 62,262 60-89 DPD 24,004 9,049 33,053 90-119 DPD 14,201 5,100 19,301 120-179 DPD 14,976 6,804 21,780 180+ DPD 88,064 21,952 110,016 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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 December 31, 2015 By updated FICO: < 600 $ 262,799 141,809 404,608 600-639 214,494 108,603 323,097 640-679 431,433 181,071 612,504 680-719 860,106 239,838 1,099,944 720-759 1,433,933 270,970 1,704,903 760-799 3,696,156 282,387 3,978,543 800+ 1,952,028 146,248 2,098,276 No FICO available 109,537 20,109 129,646 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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 December 31, 2015 By LTV/CLTV: 0-60% $ 4,408,951 381,782 4,790,733 60.01-80% 3,628,951 355,758 3,984,709 80.01-100% 718,484 352,406 1,070,890 100.01-120% (1) 125,295 196,760 322,055 > 120% (1) 55,217 101,808 157,025 No LTV/CLTV available 23,588 2,521 26,109 Remaining PCI accounting adjustments (10,057 ) (3,017 ) (13,074 ) Total consumer loans $ 8,950,429 1,388,018 10,338,447 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. December 31, (in thousands) 2015 2014 Commercial: Commercial and industrial $ — — Secured by real estate 1,706 4,214 Total commercial 1,706 4,214 Consumer: Real estate 1-4 family first mortgage 201,531 236,859 Real estate 1-4 family junior lien mortgage 64,718 80,375 Total consumer 266,249 317,234 Total nonaccrual loans (excluding PCI) $ 267,955 321,448
90 days Past Due but Still Accruing Loans	The following table shows non-PCI loans 90 days or more past due and still accruing. December 31, (in thousands) 2015 2014 Commercial: Commercial and industrial $ — — Secured by real estate 2,252 — Total commercial 2,252 — Consumer: Real estate 1-4 family first mortgage 8,365 6,020 Real estate 1-4 family junior lien mortgage 2,462 4,240 Total consumer 10,827 10,260 Total past due (excluding PCI) $ 13,079 10,260
Impaired Loans	The table below includes trial modifications that totaled $15.7 million at December 31, 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 December 31, 2015 Commercial: Commercial and industrial $ — — — — Secured by real estate 4,097 3,378 3,378 783 Total commercial 4,097 3,378 3,378 783 Consumer: Real estate 1-4 family first mortgage 461,186 382,596 256,669 44,077 Real estate 1-4 family junior lien mortgage 130,787 117,269 96,511 29,598 Total consumer 591,973 499,865 353,180 73,675 Total impaired loans (excluding PCI) $ 596,070 503,243 356,558 74,458 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. Year ended December 31, 2015 2014 2013 (in thousands) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ — — — — — — Secured by real estate 7,156 1,093 6,486 231 1,585 18 Total commercial 7,156 1,093 6,486 231 1,585 18 Consumer: Real estate 1-4 family first mortgage 390,866 23,030 403,050 20,676 133,483 9,059 Real estate 1-4 family junior lien mortgage 120,896 9,600 128,374 9,754 38,257 3,186 Total consumer 511,762 32,630 531,424 30,430 171,740 12,245 Total impaired loans $ 518,918 33,723 537,910 30,661 173,325 12,263 Interest income: Cash basis of accounting $ 11,282 10,343 5,490 Other (1) 22,441 20,318 6,773 Total interest income $ 33,723 30,661 12,263 (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 December 31, 2015 , the loans in trial modification period were $7.4 million under HAMP, $663 thousand under 2MP and $7.6 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 $5.8 million at December 31, 2015 , and $6.8 million at December 31, 2014 , were accruing loans and $9.9 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 prev
Troubled Debt Restructurings, Modification by Type	The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. 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 pay off 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) Year ended December 31, 2015 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — 4,021 4,021 — — — Total commercial — — 4,021 4,021 — — — Consumer: Real estate 1-4 family first mortgage 10,707 19,157 17,975 47,839 2,155 3.53 27,879 Real estate 1-4 family junior lien mortgage 1,758 5,750 4,673 12,181 1,939 4.61 7,095 Trial modifications (6) — — 4,009 4,009 — — — Total consumer 12,465 24,907 26,657 64,029 4,094 3.75 34,974 Total $ 12,465 24,907 30,678 68,050 4,094 3.75 % $ 34,974 Year ended December 31, 2014 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — 44 531 575 — 2.00 44 Total commercial — 44 531 575 — 2.00 44 Consumer: Real estate 1-4 family first mortgage 21,822 20,195 27,422 69,439 4,379 3.16 39,262 Real estate 1-4 family junior lien mortgage 3,847 6,810 6,587 17,244 3,287 5.20 10,157 Trial modifications (6) — — (89 ) (89 ) — — — Total consumer 25,669 27,005 33,920 86,594 7,666 3.58 49,419 Total $ 25,669 27,049 34,451 87,169 7,666 3.58 % $ 49,463 Year ended December 31, 2013 Commercial: Commercial and industrial $ — — — — — — % $ — Secured by real estate — — — — — — — Total commercial — — — — — — — Consumer: Real estate 1-4 family first mortgage 13,904 13,471 24,853 52,228 1,881 3.23 25,783 Real estate 1-4 family junior lien mortgage 1,950 3,116 8,186 13,252 317 6.20 4,534 Trial modifications (6) — — 6,966 6,966 — — — Total consumer 15,854 16,587 40,005 72,446 2,198 3.68 30,317 Total $ 15,854 16,587 40,005 72,446 2,198 3.68 % $ 30,317 (1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $16.3 million , $20.5 million , and $16.7 million for the years ended December 31, 2015 , 2014 , and 2013 , 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 contractual 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 $2.8 million , $5.2 million and $3.1 million for the years ended December 31, 2015 , 2014 , and 2013 , 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 Year ended December 31, (in thousands) 2015 2014 2013 Commercial: Commercial and industrial $ — — — Secured by real estate — 335 — Total commercial — 335 — Consumer: Real estate 1-4 family first mortgage 4,971 3,352 2,687 Real estate 1-4 family junior lien mortgage 1,268 1,768 417 Total consumer 6,239 5,120 3,104 Total $ 6,239 5,455 3,104

Commitments, Guarantees and O18

Commitments, Guarantees and Other Matters Commitments, Guarantees and Other Matters (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Contractual and Fair Value Amount of Loan Commitments [Table Text Block]	The following table provides the contract or notional amount and the estimated fair value of commercial loan commitments to extend credit. The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the current creditworthiness of the counterparties. The estimated fair value of lending commitments represents the estimated amount that we would need to pay a third party to assume our exposure on lending commitments. Dec 31, Dec 31, (in thousands) 2015 2014 Commercial lines of credit $ 386,594 398,655 Commercial letters of credit 12,898 14,836 Total commercial loan commitments (1) $ 399,492 413,491 (1) The estimated fair value of commitments to extend credit at December 31, 2015 and 2014 , was $672 thousand and $737 thousand , respectively.

Fair Values of Assets and Lia19

Fair Values of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 Financial assets Cash and cash equivalents (1) $ — — — — — Loans, net (2) 13,135,314 — — 13,892,807 13,892,807 Financial liabilities Line of credit with Bank (1) 828,149 — — 828,149 828,149 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)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summary of preferred stock and common stock	The following table provides details of our authorized common and preferred stock. December 31, 2015 and 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 Par21

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 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. Year ended December 31, (in thousands) 2015 2014 2013 Income statement data Interest income: Accretion and amortization of adjustments on loans $ 82,988 64,334 10,220 Interest on deposits 304 57 237 Total interest income 83,292 64,391 10,457 Pledge fees 4,363 — — Interest expense 1,231 1,397 1,210 Loan servicing costs 35,671 37,221 13,721 Management fees 11,195 3,120 2,025 December 31, (in thousands) 2015 2014 Balance sheet related data Loan acquisitions (year-to-date) (1) $ 3,303,296 2,566,372 Loan sales (year-to-date) (11,751 ) (23,496 ) Pledged loans (carrying value) (2) 5,760,284 — Foreclosed asset sales (year-to-date) (11,137 ) (14,971 ) Line of credit with Bank 828,149 496,692 Accounts receivable - affiliates, net 70,982 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 $6.1 billion at December 31, 2015

Summary of Significant Accoun22

Summary of Significant Accounting Policies Textual (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
PCI loans as a % of total loans (less than 1%)	1.00%	1.00%
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	90 days

Loans and Allowance for Credi23

Loans and Allowance for Credit Losses, Loans Outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest in loan purchases	$ 6,800	$ 5,600
Loans and Leases Receivable, Deferred Income	301,300	347,100
Total loans	13,256,180	12,949,277	$ 13,120,341
Total commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,917,733	3,179,665	2,939,715
Commercial and industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	46,712	58,559	80,053
Secured by real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,871,021	3,121,106	2,859,662
Total consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	10,338,447	9,769,612	10,180,626
Real estate 1-4 family first mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,950,429	8,023,294	8,029,146
Real estate 1-4 family junior lien mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 1,388,018	$ 1,746,318	$ 2,151,480
California, New Jersey, Florida, Pennsylvania and Virginia [Member] | Loans And Leases Receivable [Member] | Geographic Concentration Risk [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	42.00%

Loans and Allowance for Credi24

Loans and Allowance for Credit Losses, Significant Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest in loan purchases	$ 6,800	$ 5,600
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	3,303,296	2,566,372
Loan sales	(11,751)	(23,496)
Total commercial [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	399,222	800,996
Loan sales	(550)	(493)
Total consumer [Member]
Loans and Allowance for Credit Losses Significant Activity [Abstract]
Loan acquisitions	2,904,074	1,765,376
Loan sales	$ (11,201)	$ (23,003)

Loans and Allowance for Credi25

Loans and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	$ 185,174	$ 244,269	$ 65,459	$ 68,535
Provision (reversal of provision) for credit losses	(26,330)	6,665	18,235	45,376
Interest income on certain impaired loans	(4,936)	(3,729)	(1,865)	(1,590)
Loan charge-offs	(51,243)	(80,045)	(41,337)	(50,615)
Loan recoveries	18,873	18,014	6,711	3,753
Net loan charge-offs	(32,370)	(62,031)	(34,626)	(46,862)
Allowance related to loan contribution	0	0	197,066	0
Balance, end of year	121,538	185,174	244,269	65,459
Components:
Allowance for loan losses					$ 120,866	$ 184,437	$ 243,752	$ 65,340
Allowance for unfunded credit commitments					672	737	517	119
Allowance for credit losses	$ 185,174	$ 244,269	$ 65,459	$ 68,535	$ 121,538	$ 185,174	$ 244,269	$ 65,459
Net loan charge-offs as a percentage of average total loans	0.25%	0.49%	0.62%	1.43%
Allowance for loan losses as a percentage of total loans					0.91%	1.42%	1.86%	1.59%
Allowance for credit losses as a percentage of total loans					0.92%	1.43%	1.86%	1.59%
Total commercial [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	$ 19,476	$ 26,145
Provision (reversal of provision) for credit losses	(2,091)	(6,430)
Interest income on certain impaired loans	0	0
Loan charge-offs	(532)	(531)	$ (55)	$ (1,719)
Loan recoveries	823	292	246	1,464
Net loan charge-offs	291	(239)
Balance, end of year	17,676	19,476	26,145
Components:
Allowance for credit losses	19,476	26,145	26,145		$ 17,676	$ 19,476	$ 26,145
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	(532)	(531)	(55)	(1,719)
Loan recoveries	823	292	246	1,464
Total consumer [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	165,698	218,124
Provision (reversal of provision) for credit losses	(24,239)	13,095
Interest income on certain impaired loans	(4,936)	(3,729)
Loan charge-offs	(50,711)	(79,514)	(41,282)	(48,896)
Loan recoveries	18,050	17,722	6,465	2,289
Net loan charge-offs	(32,661)	(61,792)
Balance, end of year	103,862	165,698	218,124
Components:
Allowance for credit losses	165,698	218,124	218,124		$ 103,862	$ 165,698	$ 218,124
Real estate 1-4 family first mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(21,345)	(32,162)	(17,644)	(19,417)
Loan recoveries	4,994	6,709	2,334	523
Real estate 1-4 family junior lien mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Loan charge-offs	(29,366)	(47,352)	(23,638)	(29,479)
Loan recoveries	$ 13,056	$ 11,013	$ 4,131	$ 1,766

Loans and Allowance for Credi26

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	$ 185,174	$ 244,269	$ 65,459	$ 68,535
Provision (reversal of provision) for credit losses	(26,330)	6,665	18,235	45,376
Interest income on certain impaired loans	(4,936)	(3,729)	(1,865)	(1,590)
Loan charge-offs	(51,243)	(80,045)	(41,337)	(50,615)
Loan recoveries	18,873	18,014	6,711	3,753
Net loan charge-offs	(32,370)	(62,031)	(34,626)	(46,862)
Allowance related to loan contribution	0	0	197,066	0
Balance, end of year	121,538	185,174	244,269	65,459
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	19,476	26,145
Provision (reversal of provision) for credit losses	(2,091)	(6,430)
Interest income on certain impaired loans	0	0
Loan charge-offs	(532)	(531)	(55)	(1,719)
Loan recoveries	823	292	246	1,464
Net loan charge-offs	291	(239)
Balance, end of year	17,676	19,476	26,145
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of year	165,698	218,124
Provision (reversal of provision) for credit losses	(24,239)	13,095
Interest income on certain impaired loans	(4,936)	(3,729)
Loan charge-offs	(50,711)	(79,514)	(41,282)	(48,896)
Loan recoveries	18,050	17,722	6,465	$ 2,289
Net loan charge-offs	(32,661)	(61,792)
Balance, end of year	$ 103,862	$ 165,698	$ 218,124

Loans and Allowance for Credi27

Loans and Allowance for Credit Losses, Allowance for Credit Losses by Credit Impairment Methodology (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	$ 47,080	$ 71,534
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	74,458	113,640
Allowance for credit losses	121,538	185,174	$ 244,269	$ 65,459	$ 68,535
Financing Receivable, Collectively Evaluated for Impairment	12,731,404	12,391,070
Financing Receivable, Individually Evaluated for Impairment	503,243	528,391
Total loans	13,256,180	12,949,277	13,120,341
Commercial Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	16,893	17,535
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	783	1,941
Allowance for credit losses	17,676	19,476	26,145
Financing Receivable, Collectively Evaluated for Impairment	2,913,168	3,172,418
Financing Receivable, Individually Evaluated for Impairment	3,378	5,127
Financing Receivable, Recorded Investment, Current	2,912,788	3,171,550
Total loans	2,917,733	3,179,665	2,939,715
Consumer Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	30,187	53,999
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	73,675	111,699
Allowance for credit losses	103,862	165,698	218,124
Financing Receivable, Collectively Evaluated for Impairment	9,818,236	9,218,652
Financing Receivable, Individually Evaluated for Impairment	499,865	523,264
Financing Receivable, Recorded Investment, Current	10,105,109	9,489,828
Total loans	10,338,447	9,769,612	$ 10,180,626
PCI Loans Carrying Value [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Recorded Investment, Current	21,533	29,816
PCI Loans Carrying Value [Member] | Commercial Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Recorded Investment, Current	1,187	2,120
PCI Loans Carrying Value [Member] | Consumer Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Financing Receivable, Recorded Investment, Current	20,346	27,696
Allowance for Doubtful Accounts [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Allowance for credit losses	0	0
Allowance for Doubtful Accounts [Member] | Commercial Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Allowance for credit losses	0	0
Allowance for Doubtful Accounts [Member] | Consumer Portfolio Segment [Member]
Loans and Allowance for Credit Losses, by Credit Impairment Method [Abstract]
Allowance for credit losses	$ 0	$ 0

Loans and Allowance for Credi28

Loans and Allowance for Credit Losses, Loans by Credit Quality Indicator, Commercial (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 13,256,180	$ 12,949,277	$ 13,120,341
Total commercial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,917,733	3,179,665	2,939,715
Total commercial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,895,325	3,158,455
Total commercial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	22,408	21,210
Commercial and industrial [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	46,712	58,559	80,053
Commercial and industrial [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	46,712	58,559
Commercial and industrial [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	0	0
Secured by real estate [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,871,021	3,121,106	$ 2,859,662
Secured by real estate [Member] | Pass [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	2,848,613	3,099,896
Secured by real estate [Member] | Criticized [Member]
Loans and Leases Receivable Disclosure [Abstract]
Total loans	$ 22,408	$ 21,210

Loans and Allowance for Credi29

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Commercial (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
By delinquency status:
Nonaccrual loans	$ 267,955	$ 321,448
Total loans	13,256,180	12,949,277	$ 13,120,341
Total commercial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,912,788	3,171,550
30-89 DPD and still accruing	12	3,901
90 days and more past due and still accruing	3,227	0
Nonaccrual loans	1,706	4,214
Total loans	2,917,733	3,179,665	2,939,715
Commercial and industrial [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	46,712	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	46,712	58,559	80,053
Secured by real estate [Member]
By delinquency status:
Current-29 days past due (DPD) and still accruing	2,866,076	3,112,991
30-89 DPD and still accruing	12	3,901
90 days and more past due and still accruing	3,227	0
Nonaccrual loans	1,706	4,214
Total loans	$ 2,871,021	$ 3,121,106	$ 2,859,662

Loans and Allowance for Credi30

Loans and Allowance for Credit Losses, Loans by Delinquency Status, Consumer (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
By delinquency status:
Total loans	$ 13,256,180	$ 12,949,277	$ 13,120,341
Total consumer [Member]
By delinquency status:
Current-29 DPD	10,105,109	9,489,828
Remaining PCI accounting adjustments	(13,074)	(13,619)
Total loans	10,338,447	9,769,612	10,180,626
Total consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	62,262	66,630
Total consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	33,053	37,550
Total consumer [Member] | 90-119 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	19,301	20,905
Total consumer [Member] | 120-179 DPD member [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	21,780	29,903
Total consumer [Member] | 180 plus DPD [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	110,016	138,415
Real estate 1-4 family first mortgage [Member]
By delinquency status:
Current-29 DPD	8,776,254	7,819,624
Remaining PCI accounting adjustments	(10,057)	(11,427)
Total loans	8,950,429	8,023,294	8,029,146
Real estate 1-4 family first mortgage [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	42,987	43,991
Real estate 1-4 family first mortgage [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	24,004	24,190
Real estate 1-4 family first mortgage [Member] | 90-119 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	14,201	12,856
Real estate 1-4 family first mortgage [Member] | 120-179 DPD member [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	14,976	19,552
Real estate 1-4 family first mortgage [Member] | 180 plus DPD [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	88,064	114,508
Real estate 1-4 family junior lien mortgage [Member]
By delinquency status:
Current-29 DPD	1,328,855	1,670,204
Remaining PCI accounting adjustments	(3,017)	(2,192)
Total loans	1,388,018	1,746,318	$ 2,151,480
Real estate 1-4 family junior lien mortgage [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	19,275	22,639
Real estate 1-4 family junior lien mortgage [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	9,049	13,360
Real estate 1-4 family junior lien mortgage [Member] | 90-119 Days Past Due [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	5,100	8,049
Real estate 1-4 family junior lien mortgage [Member] | 120-179 DPD member [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	6,804	10,351
Real estate 1-4 family junior lien mortgage [Member] | 180 plus DPD [Member]
By delinquency status:
Financing Receivable, Recorded Investment, Past Due	$ 21,952	$ 23,907

Loans and Allowance for Credi31

Loans and Allowance for Credit Losses, Loans by FICO Score, Consumer (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
By updated FICO:
Total loans	$ 13,256,180	$ 12,949,277	$ 13,120,341
Total consumer [Member]
By updated FICO:
Less than 600	404,608	559,606
600-639	323,097	384,818
640-679	612,504	663,380
680-719	1,099,944	1,270,270
720-759	1,704,903	1,780,176
760-799	3,978,543	3,332,198
800 and greater	2,098,276	1,683,972
No FICO available	129,646	108,811
Remaining PCI accounting adjustments	(13,074)	(13,619)
Total loans	10,338,447	9,769,612	10,180,626
Real estate 1-4 family first mortgage [Member]
By updated FICO:
Less than 600	262,799	352,071
600-639	214,494	261,911
640-679	431,433	462,643
680-719	860,106	974,778
720-759	1,433,933	1,425,335
760-799	3,696,156	2,970,256
800 and greater	1,952,028	1,498,996
No FICO available	109,537	88,731
Remaining PCI accounting adjustments	(10,057)	(11,427)
Total loans	8,950,429	8,023,294	8,029,146
Real estate 1-4 family junior lien mortgage [Member]
By updated FICO:
Less than 600	141,809	207,535
600-639	108,603	122,907
640-679	181,071	200,737
680-719	239,838	295,492
720-759	270,970	354,841
760-799	282,387	361,942
800 and greater	146,248	184,976
No FICO available	20,109	20,080
Remaining PCI accounting adjustments	(3,017)	(2,192)
Total loans	$ 1,388,018	$ 1,746,318	$ 2,151,480

Loans and Allowance for Credi32

Loans and Allowance for Credit Losses, Loans by Loan to Value Ratio, Consumer (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
High Value Properties, Threshold	$ 1,000
By LTV/CLTV:
Total loans	13,256,180	$ 12,949,277	$ 13,120,341
Total consumer [Member]
By LTV/CLTV:
0-60%	4,790,733	4,477,787
60.01-80%	3,984,709	3,404,147
80.01-100%	1,070,890	1,254,675
100.01-120%	322,055	413,672
Greater than 120%	157,025	191,974
No LTV/CLTV available	26,109	40,976
Remaining PCI accounting adjustments	(13,074)	(13,619)
Total loans	10,338,447	9,769,612	10,180,626
Real estate 1-4 family first mortgage [Member]
By LTV/CLTV:
0-60%	4,408,951	4,007,543
60.01-80%	3,628,951	2,958,255
80.01-100%	718,484	801,111
100.01-120%	125,295	164,249
Greater than 120%	55,217	64,619
No LTV/CLTV available	23,588	38,944
Remaining PCI accounting adjustments	(10,057)	(11,427)
Total loans	8,950,429	8,023,294	8,029,146
Real estate 1-4 family junior lien mortgage [Member]
By LTV/CLTV:
0-60%	381,782	470,244
60.01-80%	355,758	445,892
80.01-100%	352,406	453,564
100.01-120%	196,760	249,423
Greater than 120%	101,808	127,355
No LTV/CLTV available	2,521	2,032
Remaining PCI accounting adjustments	(3,017)	(2,192)
Total loans	$ 1,388,018	$ 1,746,318	$ 2,151,480

Loans and Allowance for Credi33

Loans and Allowance for Credit Losses, Nonaccrual (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	$ 267,955	$ 321,448
Total commercial [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	1,706	4,214
Commercial and industrial [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	0	0
Secured by real estate [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	1,706	4,214
Total consumer [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	266,249	317,234
Real estate 1-4 family first mortgage [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	201,531	236,859
Real estate 1-4 family junior lien mortgage [Member]
Nonaccrual Loans Excluding PCI [Abstract]
Nonaccrual loans	$ 64,718	$ 80,375

Loans and Allowance for Credi34

Loans and Allowance for Credit Losses, 90 Days Past Due but Still Accruing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 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	$ 4,400	$ 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	13,079	10,260
Total commercial [Member]
90 Days Past Due and Still Accruing [Abstract]
90 days and more past due and still accruing	3,227	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	2,252	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	3,227	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	$ 2,252	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	$ 10,827	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	8,365	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	$ 2,462	$ 4,240

Loans and Allowance for Credi35

Loans and Allowance for Credit Losses, Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Impaired [Line Items]
Loans remodified	$ 16,300	$ 20,500	$ 16,700
Impaired Loans [Abstract]
Unpaid principal balance	596,070	647,657
Impaired Loans, recorded investment	503,243	528,391
Impaired Loans with related allowance for credit losses, recorded investment	356,558	395,453
Related allowance for credit losses	74,458	113,640
Financing Receivable Modifications Principal Forgiven	$ 2,800	5,200	$ 3,100
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	90 days
Total commercial [Member]
Impaired Loans [Abstract]
Unpaid principal balance	$ 4,097	7,391
Impaired Loans, recorded investment	3,378	5,127
Impaired Loans with related allowance for credit losses, recorded investment	3,378	5,127
Related allowance for credit losses	783	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	4,097	7,391
Impaired Loans, recorded investment	3,378	5,127
Impaired Loans with related allowance for credit losses, recorded investment	3,378	5,127
Related allowance for credit losses	783	1,941
Total consumer [Member]
Impaired Loans [Abstract]
Unpaid principal balance	591,973	640,266
Impaired Loans, recorded investment	499,865	523,264
Impaired Loans with related allowance for credit losses, recorded investment	353,180	390,326
Related allowance for credit losses	$ 73,675	111,699
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	60 days
Real estate 1-4 family first mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	$ 461,186	483,084
Impaired Loans, recorded investment	382,596	397,858
Impaired Loans with related allowance for credit losses, recorded investment	256,669	283,549
Related allowance for credit losses	44,077	68,589
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans [Abstract]
Unpaid principal balance	130,787	157,182
Impaired Loans, recorded investment	117,269	125,406
Impaired Loans with related allowance for credit losses, recorded investment	96,511	106,777
Related allowance for credit losses	29,598	43,110
Trial modifications [Member]
Impaired Loans [Abstract]
Impaired Loans, recorded investment	15,700	15,100
Trial modifications [Member] | Proprietary Program [Member]
Impaired Loans [Abstract]
Impaired Loans, recorded investment	$ 7,600	$ 6,100

Loans and Allowance for Credi36

Loans and Allowance for Credit Losses, Impaired Loans, Average Recorded Investment and Interest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	$ 518,918	$ 537,910	$ 173,325
Recognized interest income	33,723	30,661	12,263
Interest income:
Cash basis of accounting	11,282	10,343	5,490
Other	22,441	20,318	6,773
Total commercial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	7,156	6,486	1,585
Recognized interest income	1,093	231	18
Commercial and industrial [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	0	0	0
Recognized interest income	0	0	0
Secured by real estate [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	7,156	6,486	1,585
Recognized interest income	1,093	231	18
Total consumer [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	511,762	531,424	171,740
Recognized interest income	32,630	30,430	12,245
Real estate 1-4 family first mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	390,866	403,050	133,483
Recognized interest income	23,030	20,676	9,059
Real estate 1-4 family junior lien mortgage [Member]
Impaired Loans, Average Recorded Investment [Abstract]
Average recorded investment	120,896	128,374	38,257
Recognized interest income	$ 9,600	$ 9,754	$ 3,186

Loans and Allowance for Credi37

Loans and Allowance for Credit Losses, Troubled Debt Restructurings Modifications by Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Modifications [Line Items]
Threshold Period Past Due For Nonperforming Status Of Financing Receivables	90 days
Loans remodified	$ 16,300	$ 20,500	$ 16,700
Impaired Financing Receivable, Recorded Investment	503,243	528,391
Primary modification type
Principal	12,465	25,669	15,854
Interest rate reduction	24,907	27,049	16,587
Other concessions	30,678	34,451	40,005
Total	68,050	87,169	72,446
Financial effects of modifications
Charge-offs	$ 4,094	$ 7,666	$ 2,198
Weighted average interest rate reduction	3.75%	3.58%	3.68%
Recorded investment related to interest rate reduction	$ 34,974	$ 49,463	$ 30,317
Financing Receivable Modifications Principal Forgiven	2,800	5,200	3,100
Trial modifications [Member]
Primary modification type
Principal	0	0	0
Interest rate reduction	0	0	0
Other concessions	4,009	(89)	6,966
Total	4,009	(89)	6,966
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	0.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 0	$ 0
Trial modifications [Member] | Home Affordable Modification Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	7,400	7,700
Trial modifications [Member] | Second Lien Modification Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	663	1,300
Trial modifications [Member] | Proprietary Program [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	7,600	6,100
Financing Receivable Nonaccruing [Member] | Trial modifications [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	9,900	8,300
Financing Receivable Accruing [Member] | Trial modifications [Member]
Financing Receivable, Modifications [Line Items]
Impaired Financing Receivable, Recorded Investment	5,800	6,800
Total commercial [Member]
Primary modification type
Principal	0	0	0
Interest rate reduction	0	44	0
Other concessions	4,021	531	0
Total	4,021	575	0
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	2.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 44	$ 0
Commercial and industrial [Member]
Primary modification type
Principal	0	0	0
Interest rate reduction	0	0	0
Other concessions	0	0	0
Total	0	0	0
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0
Weighted average interest rate reduction	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
Interest rate reduction	0	44	0
Other concessions	4,021	531	0
Total	4,021	575	0
Financial effects of modifications
Charge-offs	$ 0	$ 0	$ 0
Weighted average interest rate reduction	0.00%	2.00%	0.00%
Recorded investment related to interest rate reduction	$ 0	$ 44	$ 0
Total consumer [Member]
Primary modification type
Principal	12,465	25,669	15,854
Interest rate reduction	24,907	27,005	16,587
Other concessions	26,657	33,920	40,005
Total	64,029	86,594	72,446
Financial effects of modifications
Charge-offs	$ 4,094	$ 7,666	$ 2,198
Weighted average interest rate reduction	3.75%	3.58%	3.68%
Recorded investment related to interest rate reduction	$ 34,974	$ 49,419	$ 30,317
Real estate 1-4 family first mortgage [Member]
Primary modification type
Principal	10,707	21,822	13,904
Interest rate reduction	19,157	20,195	13,471
Other concessions	17,975	27,422	24,853
Total	47,839	69,439	52,228
Financial effects of modifications
Charge-offs	$ 2,155	$ 4,379	$ 1,881
Weighted average interest rate reduction	3.53%	3.16%	3.23%
Recorded investment related to interest rate reduction	$ 27,879	$ 39,262	$ 25,783
Real estate 1-4 family junior lien mortgage [Member]
Primary modification type
Principal	1,758	3,847	1,950
Interest rate reduction	5,750	6,810	3,116
Other concessions	4,673	6,587	8,186
Total	12,181	17,244	13,252
Financial effects of modifications
Charge-offs	$ 1,939	$ 3,287	$ 317
Weighted average interest rate reduction	4.61%	5.20%	6.20%
Recorded investment related to interest rate reduction	$ 7,095	$ 10,157	$ 4,534

Loans and Allowance for Credi38

Loans and Allowance for Credit Losses, Troubled Debt Restructurings, Current Defaults (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	$ 6,239	$ 5,455	$ 3,104
Total commercial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	335	0
Commercial and industrial [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	0	0
Secured by real estate [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	0	335	0
Total consumer [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	6,239	5,120	3,104
Real estate 1-4 family first mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	4,971	3,352	2,687
Real estate 1-4 family junior lien mortgage [Member]
Financing Receivable, Modifications [Line Items]
Recorded investment of defaults	$ 1,268	$ 1,768	$ 417

Commitments, Guarantees and O39

Commitments, Guarantees and Other Matters (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commitments to Extend Credit [Member]
Commitments (Textual) [Line Items]
Commercial loan commitments	$ 399,492	$ 413,491
Estimated fair value of commitments	672	737
Payments made under indemnification clauses	0	0
Stated or notional amounts included in indemnification clauses	0	0
Liability for indemnifications reflected on consolidated balance sheet	0	0
Commercial Portfolio Segment [Member] | Line of Credit [Member]
Commitments (Textual) [Line Items]
Loan commitments	386,594	398,655
Commercial Portfolio Segment [Member] | Letter of Credit [Member]
Commitments (Textual) [Line Items]
Loan commitments	$ 12,898	$ 14,836

Fair Value, Estimates for Finan

Fair Value, Estimates for Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage Of Assets Measured On Fair Value Nonrecurring Basis Of Total Assets (Less than 1%)	1.00%	1.00%
Financial assets
Cash and cash equivalents	$ 0	$ 0	$ 0	$ 0
Loans, net	13,135,314	12,764,840
Carrying amount [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,135,314	12,764,840
Financial liabilities
Line of credit with Bank	828,149	496,692
Estimated fair value [Member]
Financial assets
Cash and cash equivalents	0	0
Loans, net	13,892,807	13,721,645
Financial liabilities
Line of credit with Bank	828,149	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	13,892,807	13,721,645
Financial liabilities
Line of credit with Bank	$ 828,149	$ 496,692

Common and Preferred Stock (Det

Common and Preferred Stock (Details)	12 Months Ended
	Dec. 31, 2015USD ($)officer$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
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:
Shares authorized	100,000,000	100,000,000
Shares issued	12,900,000	12,900,000
Shares outstanding	12,900,000	12,900,000
Par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Carrying value | $	$ 129,000	$ 129,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Certificate Of Designation, Dividend And Debt Restrictive Covenant, Debt To Equity Ratio Override, Percentage of Voting Approval	66.66%
Preferred stock:
Dividend rate, percentage	6.375%	6.375%
Liquidation preference per share (in dollars per share) | $ / shares	$ 25	$ 25
Shares authorized	11,000,000	11,000,000
Shares issued	11,000,000	11,000,000
Shares outstanding	11,000,000	11,000,000
Par value per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Carrying value | $	$ 110,000	$ 110,000
Common stock:
Certificate Of Designation, Dividend And Debt Restrictive Covenant, Threshold Dividend Coverage Ratio Of Four Prior Fiscal Quarters, Threshold	150.00%
Certificate Of Designation, Dividend And Debt Restrictive Covenant, Maximum Debt To Equity Ratio	20.00%
Preferred Stock, Redemption Price Per Share | $ / shares	$ 25
Certificate Of Designation, Regulatory Event, Number Of Senior Executive Certificates | officer	1
Preferred Stock [Member]
Common stock:
dividend coverage ratio	3673.00%
Series B Preferred Stock [Member]
Preferred stock:
Dividend rate (in dollars per share) | $ / shares	$ 85	$ 85
Liquidation preference per share (in dollars per share) | $ / shares	$ 1,000	$ 1,000
Shares authorized	1,000	1,000
Shares issued	667	667
Shares outstanding	667	667
Par value per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Carrying value | $	$ 7	$ 7
Common stock:
Preferred Stock, Redemption Price Per Share | $ / shares	$ 1,000
Common Stock [Member]
Class of Stock [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20,000
Common stock:
Stock Issued During Period, Shares, Stock Splits	19,999

Transactions with Related Par42

Transactions with Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2015
Related Party Transaction [Line Items]
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	$ 6,100,000
Interest income:
Total interest income	675,905	$ 696,425	$ 298,635
Interest expense	1,231	1,397	1,210
Loan servicing costs	35,704	37,266	13,734
Management fees	11,195	3,120	2,025
Balance Sheet Related Data (Abstract)
Loan acquisitions (year-to-date)	3,303,296	2,566,372
Loan sales (year-to-date)	(11,751)	(23,496)
Line of credit with Bank	828,149	496,692
Accounts receivable - affiliates, net	$ 70,982	54,424
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Pledged Loans, Collateral Threshold, Percentage Of Total Assets	80.00%
Related party [Member]
Related Party Transaction [Line Items]
Pledged loan annual basis point rate applied to UPB	0.28%			0.11%
Interest income:
Accretion and amortization of adjustments on loans	$ 82,988	64,334	10,220
Interest on deposits	304	57	237
Total interest income	83,292	64,391	10,457
Pledge fees	4,363	0	0
Interest expense	1,231	1,397	1,210
Loan servicing costs	35,671	37,221	13,721
Management fees	11,195	3,120	$ 2,025
Balance Sheet Related Data (Abstract)
Loan acquisitions (year-to-date)	3,303,296	2,566,372
Loan sales (year-to-date)	(11,751)	(23,496)
Loans Pledged as Collateral	5,760,284	0
Real estate owned sales (year-to-date)	(11,137)	(14,971)
Line of credit with Bank	828,149	496,692
Accounts receivable - affiliates, net	70,982	$ 54,424
Revolving Credit Facility [Member] | Affiliated Entity [Member]
Balance Sheet Related Data (Abstract)
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000
Federal Funds Effective Swap Rate [Member] | Revolving Credit Facility [Member] | Affiliated Entity [Member]
Balance Sheet Related Data (Abstract)
Debt Instrument, Basis Spread on Variable Rate	0.125%

Schedule IV - Mortgage Loans 43

Schedule IV - Mortgage Loans on Real Estate Summary of Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Mortgage Loans on Real Estate [Line Items]
Number of loans	86,209
Weighted average interest rate	4.40%
Weighted average maturity in years	18 years
Recorded investment in loans	$ 13,209,468
Past due amounts	251,357
Recorded investment for Federal income tax purposes	13,200,000
Recorded investment discount, related party	$ 301,300
Real estate 1-4 family first mortgage [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	50,590
Weighted average interest rate	4.62%
Weighted average maturity in years	23 years
Recorded investment in loans	$ 8,950,429
Past due amounts	$ 184,232
Real estate 1-4 family first mortgage [Member] | Original balances less than $500 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	42,719
Weighted average interest rate	5.58%
Weighted average maturity in years	19 years 1 month
Recorded investment in loans	$ 3,501,375
Past due amounts	$ 139,650
Real estate 1-4 family first mortgage [Member] | Original balances $500 - $1,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	6,508
Weighted average interest rate	4.10%
Weighted average maturity in years	25 years 9 months
Recorded investment in loans	$ 3,879,795
Past due amounts	$ 29,920
Real estate 1-4 family first mortgage [Member] | Original balances over $1,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	1,363
Weighted average interest rate	3.75%
Weighted average maturity in years	24 years 11 months
Recorded investment in loans	$ 1,569,259
Past due amounts	$ 14,662
Real estate 1-4 family junior lien mortgage [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	34,618
Weighted average interest rate	7.06%
Weighted average maturity in years	16 years 2 months
Recorded investment in loans	$ 1,388,018
Past due amounts	$ 62,180
Real estate 1-4 family junior lien mortgage [Member] | Original balances less than $500 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	34,557
Weighted average interest rate	7.08%
Weighted average maturity in years	16 years 2 months
Recorded investment in loans	$ 1,357,764
Past due amounts	$ 61,382
Real estate 1-4 family junior lien mortgage [Member] | Original balances $500 - $1,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	53
Weighted average interest rate	6.02%
Weighted average maturity in years	19 years 2 months
Recorded investment in loans	$ 23,891
Past due amounts	$ 798
Real estate 1-4 family junior lien mortgage [Member] | Original balances over $1,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	8
Weighted average interest rate	5.47%
Weighted average maturity in years	18 years 11 months
Recorded investment in loans	$ 6,363
Past due amounts	$ 0
Secured by real estate [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	1,001
Weighted average interest rate	2.44%
Weighted average maturity in years	3 years 1 month
Recorded investment in loans	$ 2,871,021
Past due amounts	$ 4,945
Secured by real estate [Member] | Original balances less than $1,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	428
Weighted average interest rate	2.56%
Weighted average maturity in years	3 years 9 months
Recorded investment in loans	$ 412,526
Past due amounts	$ 875
Secured by real estate [Member] | Original balances $1,000 - $10,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	509
Weighted average interest rate	2.54%
Weighted average maturity in years	3 years 1 month
Recorded investment in loans	$ 1,255,229
Past due amounts	$ 4,070
Secured by real estate [Member] | Original balances over $10,000 [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans	64
Weighted average interest rate	2.29%
Weighted average maturity in years	2 years 9 months
Recorded investment in loans	$ 1,203,266
Past due amounts	$ 0
Real Estate Loans And Leases Receivables [Member] | Loans And Leases Receivable [Member]
Mortgage Loans on Real Estate [Line Items]
Concentration risk (percent)	3.00%

Schedule IV - Mortgage Loans 44

Schedule IV - Mortgage Loans on Real Estate Movement in Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of period	$ 12,890,718	$ 13,040,288	$ 4,065,226
Acquisitions	3,296,499	2,560,760	3,849,096
Accretion and amortization of adjustments on loans	78,108	67,592	11,361
Non-cash loan contribution from Wachovia Preferred Funding Corp.	0	0	7,116,854
Loan balance increases	3,374,607	2,628,352	10,977,311
Proceeds from principal payments and sales	(2,993,539)	(2,684,798)	(1,957,934)
Charge-offs	(51,243)	(80,045)	(41,337)
Transfers from loans to foreclosed assets	(11,075)	(13,079)	(2,978)
Loan balance decreases	(3,055,857)	(2,777,922)	(2,002,249)
Balance, end of period	$ 13,209,468	$ 12,890,718	$ 13,040,288