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Capitalized servicing assets (Tables)
12 Months Ended
Dec. 31, 2016
Transfers And Servicing [Abstract]  
Servicing Asset at Amortized Cost

Changes in capitalized servicing assets were as follows:

 

 

 

Residential Mortgage Loans

 

 

Commercial Mortgage Loans

 

For the Year Ended December 31,

 

2016

 

 

2015

 

 

2014

 

 

2016

 

 

2015

 

 

2014

 

 

 

(In thousands)

 

Beginning balance

 

$

118,303

 

 

$

109,871

 

 

$

126,377

 

 

$

83,692

 

 

$

72,939

 

 

$

72,499

 

Originations

 

 

28,618

 

 

 

35,556

 

 

 

28,285

 

 

 

40,117

 

 

 

29,914

 

 

 

15,922

 

Purchases

 

 

638

 

 

 

243

 

 

 

289

 

 

 

 

 

 

 

 

 

730

 

Amortization

 

 

(30,208

)

 

 

(27,367

)

 

 

(45,080

)

 

 

(20,045

)

 

 

(19,161

)

 

 

(16,212

)

 

 

 

117,351

 

 

 

118,303

 

 

 

109,871

 

 

 

103,764

 

 

 

83,692

 

 

 

72,939

 

Valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

117,351

 

 

$

118,303

 

 

$

109,871

 

 

$

103,764

 

 

$

83,692

 

 

$

72,939

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Total

 

For the Year Ended December 31,

 

2016

 

 

2015

 

 

2014

 

 

2016

 

 

2015

 

 

2014

 

 

 

(In thousands)

 

Beginning balance

 

$

729

 

 

$

4,107

 

 

$

11,225

 

 

$

202,724

 

 

$

186,917

 

 

$

210,101

 

Originations

 

 

 

 

 

 

 

 

 

 

 

68,735

 

 

 

65,470

 

 

 

44,207

 

Purchases

 

 

 

 

 

 

 

 

 

 

 

638

 

 

 

243

 

 

 

1,019

 

Amortization

 

 

(729

)

 

 

(3,378

)

 

 

(7,118

)

 

 

(50,982

)

 

 

(49,906

)

 

 

(68,410

)

 

 

 

 

 

 

729

 

 

 

4,107

 

 

 

221,115

 

 

 

202,724

 

 

 

186,917

 

Valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

 

 

$

729

 

 

$

4,107

 

 

$

221,115

 

 

$

202,724

 

 

$

186,917

 

 

Economic Assumptions Used to Determine Fair Value of Capitalized Servicing Rights and Sensitivity of Value to Changes in Assumptions

 

 

 

Residential

 

 

Commercial

 

Weighted-average prepayment speeds

 

 

11.30

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(8,525,000

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(16,390,000

)

 

 

 

 

Weighted-average OAS

 

 

10.95

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(7,106,000

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(13,779,000

)

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

18.00

%

Impact on fair value of 10% adverse change

 

 

 

 

 

$

(5,285,000

)

Impact on fair value of 20% adverse change

 

 

 

 

 

 

(10,186,000

)