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## Mortgage banking revenue consists of the following: 

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At December 31, 2002, 2001 and 2000, TCF was servicing real estate loans for others with aggregate unpaid principal balances of approximately $5.6 billion, $4.7 billion and $4 billion, respectively. During 2000, TCF purchased the bulk servicing rights on $933 mil- lion of residential mortgage loans at a cost of $13.8 million. No bulk servicing rights were purchased during 2002 or 2001. No bulk ser- vicing rights were sold during 2002, 2001 or 2000. At December 31, 2002, and 2001, TCF had custodial funds of $287.4 million and $219.1 million, respectively, relating to the servicing of residen- tial real estate loans, which are included in deposits in the Consolidated Statements of Financial Condition. These custodial 

## 11. Deposits 

Deposits are summarized as follows: 

deposits relate primarily to mortgage servicing operations and rep- resent customer funds for taxes and insurance and funds due investors on mortgage loans serviced by TCF. 

The estimated fair value of mortgage servicing rights included in the Consolidated Statements of Financial Condition at December 31, 2002 was approximately $62.6 million. The estimated fair value of capitalized mortgage servicing rights is based on estimated cash flows discounted using rates management believes are commensurate with the risks involved. Assumptions regarding prepayments, defaults and interest rates are determined using available market information. 

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