Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 30, 2016

Transfers And Servicing Of Financial Assets [Abstract]

Schedule of Changes in Mortgage Servicing Rights

Changes in the Company’s mortgage servicing rights were as follows for the three and nine months ended September 30, 2016 and 2015 (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2016			2015			2016			2015
Carrying value at beginning of period	$	40,382		$	16,361		$	29,711		$	6,032
Capitalization		11,107			7,284			30,890			18,392
Amortization		(2,796	)		(764	)		(6,221	)		(1,543	)
Impairment		(2,402	)		—			(8,089	)		—
Carrying value at September 30	$	46,291		$	22,881		$	46,291		$	22,881

Schedule of Servicing Income and Expense Included in Mortgage Banking Income

The following table summarizes servicing income and expense included in mortgage banking income and other noninterest expense within the Mortgage Segment operating results, respectively, for the three months and nine months ended September 30, 2016 and 2015 (in thousands), respectively:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
		2016			2015		2016			2015
Gross servicing income	$	3,660		$	1,050	$	8,311		$	2,102
Servicing expenses:
Servicing asset amortization		2,796			764		6,221			1,543
Servicing asset impairment		2,402			—		8,089			—
Other servicing expenses		625			174		1,571			374
Gross servicing expenses		5,823			938		15,881			1,917
Net servicing (loss) income	$	(2,163	)	$	112	$	(7,570	)	$	185

Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights

Data and key economic assumptions related to the Company’s mortgage servicing rights as of September 30, 2016 and December 31, 2015 are as follows ($ amounts in thousands):

	September 30, 2016			December 31, 2015
Unpaid principal balance	$	4,975,893		$	2,545,449
Weighted-average prepayment speed (CPR)		11.55	%		7.30	%
Estimated impact on fair value of a 10% increase		(2,144	)		(371	)
Estimated impact on fair value of a 20% increase		(4,127	)		(726	)
Discount rate		9.20	%		10.14	%
Estimated impact on fair value of a 100 bp increase		(1,752	)		(1,201	)
Estimated impact on fair value of a 200 bp increase		(3,381	)		(2,317	)
Weighted-average coupon interest rate		3.65	%		3.79	%
Weighted-average servicing fee (basis points)		26			25
Weighted-average remaining maturity (in months)		310			311