Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2016

Mortgage Servicing Rights

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

The following tables present the changes in fair value of the Company’s MSR, as included in other assets within the consolidated balance sheets, and other information related to the serviced portfolio (dollars in thousands).

	Three Months Ended March 31,
	2016			2015
Balance, beginning of period	$	52,285		$	36,155
Additions		1,639			2,690
Changes in fair value:
Due to changes in model inputs or assumptions(1)		(12,842)			(5,044)
Due to customer payoffs		(1,219)			(2,153)
Balance, end of period	$	39,863		$	31,648
	March 31,			December 31,
	2016			2015
Mortgage loans serviced for others	$	5,004,100		$	5,051,884
MSR asset as a percentage of serviced mortgage loans		0.80	%		1.03	%

(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

	March 31,		December 31,
	2016		2015
Weighted average constant prepayment rate	16.92	%	11.51	%
Weighted average discount rate	10.79	%	10.92	%
Weighted average life (in years)	4.8		6.5

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).

	March 31,		December 31,
	2016		2015
Constant prepayment rate:
Impact of 10% adverse change	$	(1,831)	$	(2,177)
Impact of 20% adverse change		(3,494)		(4,195)
Discount rate:
Impact of 10% adverse change		(1,073)		(2,073)
Impact of 20% adverse change		(2,076)		(3,989)