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Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2017
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights
Mortgage Servicing Rights
(In Thousands)
Changes in the Company’s mortgage servicing rights (“MSRs”) were as follows, for the periods presented:
Carrying Value at January 1, 2016
$
29,642

Sale of MSRs
(18,477
)
Capitalization
18,061

Amortization
(2,884
)
Impairment
(40
)
Carrying Value at December 31, 2016
$
26,302

Capitalization
16,973

Amortization
(3,936
)
Carrying Value at December 31, 2017
$
39,339


In 2016, the Company sold MSRs relating to mortgage loans having an aggregate unpaid principal balance totaling $1,830,444 to a third party for net proceeds of $18,508. There were no sales of MSRs in 2017 or 2015. During 2016, the Company recognized an impairment loss on MSRs in earnings in the amount of $40, which was included in “Mortgage banking income” in the Consolidated Statements of Income. There were no impairment losses recognized during 2017 or 2015.
Data and key economic assumptions related to the Company’s mortgage servicing rights as of December 31 are as follows: 
 
2017
 
2016
 
2015
Unpaid principal balance
$
4,012,519

 
$
2,763,344

 
$
3,090,839

Weighted-average prepayment speed (CPR)
8.04
%
 
7.34
%
 
8.89
%
Estimated impact of a 10% increase
$
(1,592
)
 
$
(1,034
)
 
$
(1,203
)
Estimated impact of a 20% increase
(3,095
)
 
(2,010
)
 
(2,330
)
 
 
 
 
 
 
Discount rate
9.69
%
 
9.64
%
 
9.51
%
Estimated impact of a 100bp increase
$
(2,027
)
 
$
(1,368
)
 
$
(1,357
)
Estimated impact of a 200bp increase
(3,896
)
 
(2,629
)
 
(2,612
)
 
 
 
 
 
 
Weighted-average coupon interest rate
3.89
%
 
3.83
%
 
3.97
%
Weighted-average servicing fee (basis points)
26.36

 
25.87

 
25.04

Weighted-average remaining maturity (in years)
7.98

 
11.11

 
15.23


The Company recorded servicing fees of $5,735, $3,212 and $3,369, respectively, for each of the twelve months ended December 31, 2017, 2016 and 2015. These fees are included under the line item “Mortgage banking income” in the Consolidated Statements of Income.