Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2020

Transfers and Servicing [Abstract]

Changes in the Company's mortgage servicing rights

Changes in the Company’s mortgage servicing rights (“MSRs”) were as follows, for the periods presented:

Carrying Value at January 1, 2019	$	48,230
Capitalization	13,823
Amortization	(7,009)
Valuation adjustment	(1,836)
Carrying Value at December 31, 2019	$	53,208
Capitalization	41,235
Amortization	(19,723)
Valuation adjustment	(11,726)
Carrying Value at December 31, 2020	$	62,994

Data and key economic assumptions related to the Company's mortgage servicing rights

Data and key economic assumptions related to the Company’s mortgage servicing rights as of December 31 are as follows: 

	2020			2019			2018
Unpaid principal balance	$	7,322,671		$	4,871,155		$	4,635,712
Weighted-average prepayment speed (CPR)	15.05		%	11.48		%	7.95		%
Estimated impact of a 10% increase	$	(4,001)		$	(2,469)		$	(1,264)
Estimated impact of a 20% increase	(7,674)			(4,774)			(2,569)
Discount rate	9.86		%	9.69		%	9.45		%
Estimated impact of a 100bp increase	$	(2,144)		$	(2,027)		$	(2,657)
Estimated impact of a 200bp increase	(4,144)			(3,908)			(5,103)
Weighted-average coupon interest rate	3.58		%	4.04		%	4.04		%
Weighted-average servicing fee (basis points)	29.94			29.20			27.47
Weighted-average remaining maturity (in years)	5.14			6.35			8.03