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Mortgage Servicing Rights, Net (Tables)
3 Months Ended
Mar. 31, 2018
Transfers And Servicing [Abstract]  
Summary of Activity in Mortgage Servicing Rights by Class

A summary of the activity in mortgage servicing rights by class for the three months ended March 31, 2018 and 2017 is as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

Mortgage Servicing Rights

 

2018

 

 

2017

 

Beginning Balance

 

$

399,349

 

 

$

347,558

 

Additions

 

 

6,389

 

 

 

28,806

 

Purchases from an affiliate

 

 

509

 

 

 

 

Amortization

 

 

(19,294

)

 

 

(17,175

)

Ending Balance

 

$

386,953

 

 

$

359,189

 

Valuation Allowance

 

 

 

 

 

 

 

 

Beginning Balance

 

$

(6,723

)

 

$

(7,742

)

Decrease

 

 

1,296

 

 

 

3,168

 

Ending Balance

 

$

(5,427

)

 

$

(4,574

)

Net balance

 

$

381,526

 

 

$

354,615

 

 

Schedule of Servicing Fees and Escrow Interest

Servicing fees are included in “Management services, servicing fees and other” in Newmark’s unaudited condensed consolidated statements of operations and are as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Servicing fees

 

$

25,132

 

 

$

22,050

 

Escrow interest and placement fees

 

 

2,967

 

 

 

1,459

 

Ancillary fees

 

 

827

 

 

 

1,323

 

Total servicing fees and escrow interest

 

$

28,926

 

 

$

24,832