Net Mortgage Loan Servicing Fees

12 Months Ended

Dec. 31, 2016

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Net Mortgage Loan Servicing Fees

Note 27—Net Mortgage Loan Servicing Fees

Net mortgage loan servicing fees are summarized below:

		Year ended December 31,
		2016			2015			2014
	(in thousands)
From non-affiliates:
Servicing fees (1)		$	131,833		$	102,147		$	80,008
Effect of MSRs:
Carried at lower of amortized cost or fair value:
Amortization			(65,647	)		(43,982	)		(31,911	)
Provision for impairment			(2,728	)		(3,229	)		(5,138	)
Gain on sale			11			187			46
Carried at fair value—change in fair value			(12,524	)		(7,072	)		(16,648	)
Gains on hedging derivatives			2,271			481			11,527
			(78,617	)		(53,615	)		(42,124	)
			53,216			48,532			37,884
From PFSI-MSR recapture income			1,573			787			9
Net mortgage loan servicing fees		$	54,789		$	49,319		$	37,893
Average servicing portfolio		$	49,626,758		$	38,450,379		$	30,720,168

(1) Includes contractually specified servicing and ancillary fees.