Servicing rights (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of information regarding portfolio of servicing rights

	Year Ended December 31,
(In Thousands)	2020		2019
SBA servicing rights, at amortized cost
Beginning net carrying amount	$	17,660	$	16,749
Additions due to loans sold, servicing retained		4,153		4,364
Amortization		(3,555)		(3,393)
Impairment		506		(60)
Ending net carrying value of SBA servicing rights	$	18,764	$	17,660
Freddie Mac multi-family servicing rights, at amortized cost
Beginning net carrying amount	$	13,135	$	10,248
Additions due to loans sold, servicing retained		8,850		5,195
Amortization		(2,926)		(2,308)
Ending net carrying value of Freddie Mac multi-family servicing rights	$	19,059	$	13,135
Total servicing rights, at amortized cost	$	37,823	$	30,795
Residential mortgage servicing rights, at fair value
Beginning net carrying amount	$	91,174	$	93,065
Additions due to loans sold, servicing retained		43,701		26,854
Loan pay-offs		(20,777)		(10,178)
Unrealized losses		(37,258)		(18,567)
Ending fair value of Residential mortgage servicing rights	$	76,840	$	91,174
Total servicing rights	$	114,663	$	121,969

Schedule of future amortization expense for the servicing rights

(In Thousands)	December 31, 2020
2021	$	7,146
2022		6,265
2023		5,492
2024		4,815
2025		4,217
Thereafter		9,888
Total	$	37,823

Residential MSRs

Schedule of servicing rights

	As of December 31, 2020				As of December 31, 2019
(In Thousands)	Unpaid Principal Amount		Fair Value		Unpaid Principal Amount		Fair Value
Fannie Mae	$	3,700,450	$	27,632	$	3,388,630	$	37,309
Ginnie Mae		2,757,124		25,899		2,504,993		29,869
Freddie Mac		3,071,312		23,309		2,270,981		23,996
Total	$	9,528,886	$	76,840	$	8,164,604	$	91,174

Schedule of mortgage servicing rights portfolio

		December 31, 2020						December 31, 2019
		Range of input values				Weighted Average		Range of input values				Weighted Average
Residential mortgage servicing rights (at fair value)
	Forward prepayment rate	12.6	-	31.4	%	14.3	%	7.1	-	18.7	%	10.1	%
	Discount rate	9.1	-	11.7	%	9.8	%	9.0	-	11.0	%	9.6	%
	Servicing expense	$70	-	$85		$74		$70	-	$85		$75

Schedule of adverse changes to key assumptions on the carrying amount of the servicing rights

(In Thousands)	December 31, 2020		December 31, 2019
Residential mortgage servicing rights (at fair value)
Prepayment rate
Impact of 10% adverse change	$	(5,049)	$	(4,195)
Impact of 20% adverse change	$	(9,701)	$	(8,091)
Discount rate
Impact of 10% adverse change	$	(2,601)	$	(3,450)
Impact of 20% adverse change	$	(5,028)	$	(6,654)
Cost of servicing
Impact of 10% adverse change	$	(1,469)	$	(1,648)
Impact of 20% adverse change	$	(2,938)	$	(3,297)

SBA | Freddie Mac

Schedule of servicing rights

	As of December 31, 2020				As of December 31, 2019
	Unpaid Principal				Unpaid Principal
(In Thousands)	Amount		Carrying Value		Amount		Carrying Value
SBA	$	643,135	$	18,764	$	568,017	$	17,660
Freddie Mac multi-family		1,501,998		19,059		1,167,476		13,135
Total	$	2,145,133	$	37,823	$	1,735,493	$	30,795

Schedule of adverse changes to key assumptions on the carrying amount of the servicing rights

(In Thousands)	December 31, 2020		December 31, 2019
SBA servicing rights (at amortized cost)
Forward prepayment rate
Impact of 10% adverse change	$	(729)	$	(563)
Impact of 20% adverse change	$	(1,420)	$	(1,097)
Default rate
Impact of 10% adverse change	$	(150)	$	(94)
Impact of 20% adverse change	$	(298)	$	(186)
Discount rate
Impact of 10% adverse change	$	(395)	$	(520)
Impact of 20% adverse change	$	(777)	$	(1,011)
Freddie Mac multi-family servicing rights (at amortized cost)
Forward prepayment rate
Impact of 10% adverse change	$	(163)	$	(285)
Impact of 20% adverse change	$	(324)	$	(558)
Default rate
Impact of 10% adverse change	$	(6)	$	(5)
Impact of 20% adverse change	$	(13)	$	(10)
Discount rate
Impact of 10% adverse change	$	(678)	$	(381)
Impact of 20% adverse change	$	(1,324)	$	(746)

SBA | Freddie Mac | Commercial

Schedule of adverse changes to key assumptions on the carrying amount of the servicing rights

		December 31, 2020						December 31, 2019
		Range of input values				Weighted Average		Range of input values				Weighted Average
SBA servicing rights (at amortized cost)
	Forward prepayment rate	6.7	-	20.8	%	8.5	%	6.3	-	21.2	%	9.3	%
	Forward default rate	0.0	-	10.5	%	8.2	%	0.0	-	10.8	%	7.3	%
	Discount rate	4.5	-	4.5	%	4.5	%	8.8	-	8.8	%	8.8	%
	Servicing expense	0.4	-	0.4	%	0.4	%	0.4	-	0.4	%	0.4	%
Freddie Mac multi-family servicing rights (at amortized cost)
	Forward prepayment rate	0.1	-	5.1	%	2.4	%	0.5	-	15.9	%	6.6	%
	Forward default rate	0.0	-	0.4	%	0.3	%	0.0	-	0.5	%	0.4	%
	Discount rate	6.0	-	6.0	%	6.0	%	6.0	-	6.0	%	6.0	%
	Servicing expense	0.2	-	0.3	%	0.2	%	0.2	-	0.3	%	0.2	%