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MORTGAGE SERVICING RIGHTS (Tables)
12 Months Ended
Dec. 31, 2014
MORTGAGE SERVICING RIGHTS [Abstract]  
Data and Assumptions Used in Fair Value Calculation

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2012

 

 

(Dollars in thousands)

Unpaid principal balance

 

$
5,686,756 

 

$
5,577,325 

 

$
5,058,912 

Weighted-average prepayment speed (CPR)

 

11.6 

 

10.3 

 

17.1 

Discount rate (annual percentage)

 

9.8 

 

10.3 

 

10.8 

Weighted-average coupon interest rate (percentage)

 

4.1 

 

4.2 

 

4.4 

Weighted-average remaining maturity (months)

 

314.0 

 

310.0 

 

307.0 

Weighted-average servicing fee (basis points)

 

26.5 

 

26.6 

 

27.1 

 

Activity in Class of Mortgage Servicing Assets

 

 

 

 

 

 

 

 

2014

 

2013

 

 

(In thousands)

Fair value at beginning of year

 

$        54,662

 

$        37,882

 

Additions:

 

 

 

 

 

Origination of servicing assets

 

8,878 

 

14,090 

 

Changes in fair value:

 

 

 

 

 

Due to payoffs/paydowns

 

(5,793)

 

(6,244)

 

Due to change in valuation inputs or assumptions

 

 

 

 

 

used in the valuation model

 

(6,444)

 

8,943 

 

Other changes in fair value

 

(7)

 

(9)

 

Fair value at end of year

 

$        51,296

 

$        54,662