XML 60 R45.htm IDEA: XBRL DOCUMENT v3.6.0.2
Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2016
Transfers and Servicing [Abstract]  
Servicing Asset at Fair Value
The following table details the activity in the Company's mortgage servicing rights ("MSR") for the year indicated:
(In thousands)
2016
2015
 
 
 
Balance, beginning of period

$1,654


$1,010

Additions for new MSR capitalized
3,029

802

Changes in fair value:
 
 
  Due to changes in model inputs of assumptions (1)
(214
)
29

  Other (2)
(312
)
(187
)
Carrying value, December 31

$4,157


$1,654



(1) Principally reflects changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates.
(2) Represents changes due to collection/realization of expected cash flows over time.

The following table details information related to our serviced mortgage loan portfolio as of December 31, 2016 and 2015:

(In thousands)
December 31, 2016
December 31, 2015
 
 
 
Balance of loans serviced for others

$272,442


$125,446

MSR as a percentage of serviced loans
1.53
%
1.32
%
The following table outlines the key assumptions used in measuring the fair value of mortgage servicing rights as of December 31, 2016 and 2015:

 
2016
2015
 
 
 
Constant prepayment rate
11.58
%
10.54
%
Discount rate
9.25
%
9.10
%