Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2016

MORTGAGE SERVICING RIGHTS

Schedule of Activity Related to Capitalized MSRs

	For the three months ended				For the six months ended
	June 30,				June 30,
(in thousands)	2016		2015		2016		2015
Beginning balance	$	421,651	$	375,159	$	412,348	$	375,907
Additions, following the sale of loan		29,053		43,209		64,026		67,391
Purchases		44,774		—		44,774		—
Amortization		(23,233)		(19,750)		(45,956)		(38,570)
Pre-payments and write-offs		(4,152)		(3,598)		(7,099)		(9,708)
Ending balance	$	468,093	$	395,020	$	468,093	$	395,020

Summary of Components of Net Carrying Value of Acquired and Originated MSRs

	As of June 30, 2016
	Gross		Accumulated		Net
(in thousands)	carrying value		amortization		carrying value
Acquired MSRs	$	177,611	$	(100,013)	$	77,598
Originated MSRs		556,528		(166,033)		390,495
Total	$	734,139	$	(266,046)	$	468,093

Schedule of Expected Amortization of MSRs

	Originated MSRs		Acquired MSRs		Total MSRs
(in thousands)	Amortization		Amortization		Amortization
Six Months Ending December 31,
2016	$	40,564	$	7,443	$	48,007
Year Ending December 31,
2017		72,809		13,910		86,719
2018		61,874		11,428		73,302
2019		55,295		10,081		65,376
2020		47,615		8,359		55,974
2021		38,521		6,452		44,973
Thereafter		73,817		19,925		93,742
Total	$	390,495	$	77,598	$	468,093