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Commercial Mortgage Banking (Tables)
 12 Months Ended
Dec. 31, 2016
Transfers and Servicing [Abstract]  
Unpaid Principal Balance of Loans
The total unpaid principal balance of loans the Company was servicing for various institutional investors as of December 31, 2016 and 2015 was as follows:
(Expressed in thousands)
 
 
 
 
2016
 
2015
Unpaid principal balance of loans
$
—

 
$
3,974,292
Summary of Changes in Carrying Value of Mortgage Servicing Rights
he following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2016 and 2015:
(Expressed in thousands)
 
 
 
 
For the Years Ended December 31,
 
2016
 
2015
Balance at beginning of year
$
28,168

 
$
30,140

Originations (1)
2,575

 
6,569

Purchases
478

 
799

Disposals (1)
(1,753
)
 
(8,613
)
Sale of MSRs
(28,182
)
 
—

Amortization expense
(1,286
)
 
(727
)
Balance at end of year
$
—

 
$
28,168

 
(1)
Includes refinancings.
Components of Mortgage Servicing Rights Fees
The Company receives fees during the course of servicing the mortgage loans. The fees for the years ended December 31, 2016, 2015 and 2014 were as follows:
(Expressed in thousands)
 
 
 
 
 
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
Servicing fees
$
3,249

 
$
5,848

 
$
5,552

Ancillary fees
162

 
310

 
328

Total MSR fees
$
3,411

 
$
6,158

 
$
5,880