Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2015

Mortgage Servicing Rights

Schedule of change in fair value of the Company's MSR asset, as included in other assets within the consolidated balance sheets

The following tables present the changes in fair value of the Company’s MSR and other information related to the serviced portfolio (dollars in thousands).

	Year Ended December 31,
	2015			2014			2013
Balance, beginning of year	$	36,155		$	20,149		$	2,080
Additions		24,974			35,056			13,886
Sales		—			(11,387)			—
Changes in fair value:
Due to changes in model inputs or assumptions(1)		(2,150)			(5,267)			4,782
Due to customer payoffs		(6,694)			(2,396)			(599)
Balance, end of year	$	52,285		$	36,155		$	20,149
	December31,
	2015			2014
Mortgage loans serviced for others	$	5,051,884		$	3,645,220
MSR asset as a percentage of serviced mortgage loans		1.03	%		0.99	%

(1) Primarily represents normal customer payments, changes in discount rates and prepayment speed assumptions, which are primarily affected by changes in interest rates and the refinement of other MSR model assumptions.

Schedule of key assumptions used in measuring the fair value of the Company's MSR

	December 31,
	2015		2014
Weighted average constant prepayment rate	11.51	%	12.17	%
Weighted average discount rate	10.92	%	11.01	%
Weighted average life (in years)	6.5		6.3

Schedule of sensitivity analysis of fair value of the Company's MSR to certain key assumptions

A sensitivity analysis of the fair value of the Company’s MSR to certain key assumptions is presented in the following table (in thousands).

	December 31,
	2015		2014
Constant prepayment rate:
Impact of 10% adverse change	$	(2,177)	$	(1,648)
Impact of 20% adverse change		(4,195)		(3,169)
Discount rate:
Impact of 10% adverse change		(2,073)		(1,431)
Impact of 20% adverse change		(3,989)		(2,753)