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Capitalized servicing assets (Tables)
12 Months Ended
Dec. 31, 2018
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,

 

2018

 

 

2017

 

 

2016

 

 

2018

 

 

2017

 

 

2016

 

 

 

(In thousands)

 

Beginning balance

 

$

114,978

 

 

$

117,351

 

 

$

118,303

 

 

$

114,076

 

 

$

103,764

 

 

$

83,692

 

Originations

 

 

28,985

 

 

 

28,792

 

 

 

28,618

 

 

 

26,298

 

 

 

34,620

 

 

 

40,117

 

Purchases

 

 

454

 

 

 

699

 

 

 

638

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

(23,908

)

 

 

(31,864

)

 

 

(30,208

)

 

 

(25,711

)

 

 

(24,308

)

 

 

(20,045

)

 

 

 

120,509

 

 

 

114,978

 

 

 

117,351

 

 

 

114,663

 

 

 

114,076

 

 

 

103,764

 

Valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

120,509

 

 

$

114,978

 

 

$

117,351

 

 

$

114,663

 

 

$

114,076

 

 

$

103,764

 

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

 

 

 

Residential

 

 

Commercial

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Weighted-average prepayment speeds

 

 

10.99

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(9,327

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(17,925

)

 

 

 

 

Weighted-average OAS

 

 

9.63

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(6,758

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(13,135

)

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

18.00

%

Impact on fair value of 10% adverse change

 

 

 

 

 

$

(6,029

)

Impact on fair value of 20% adverse change

 

 

 

 

 

 

(11,626

)