XML 59 R44.htm IDEA: XBRL DOCUMENT v3.8.0.1
Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2017
Transfers and Servicing [Abstract]  
Servicing Asset at Fair Value
The following table outlines the key assumptions used in measuring the fair value of mortgage servicing rights as of December 31, 2017 and 2016:

 
2017

2016

 
 
 
Constant prepayment rate
9.00
%
11.58
%
Discount rate
9.45
%
9.25
%
The following table details the activity in the Company's mortgage servicing rights ("MSR") for the year indicated:
(In Thousands)
2017
2016
 
 
 
Balance, beginning of period

$4,157


$1,654

Additions for new MSR capitalized
3,146

3,029

Changes in fair value:
 
 
  Due to changes in model inputs of assumptions (1)
551

(214
)
  Other (2)
(549
)
(312
)
Carrying value, December 31

$7,305


$4,157



(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, 2017 and 2016:

(In Thousands)
December 31, 2017
December 31, 2016
 
 
 
Balance of mortgage loans serviced for others

$406,291


$272,442

MSR as a percentage of serviced loans
1.80
%
1.53
%