Loan Servicing:

Loans serviced for others are not included in the consolidated balance sheets. The following table presents an analysis of the changes in mortgage servicing rights and related allowance as of the dates indicated:



	2013			2012
	(in thousands)
Mortgage servicing rights, gross:
Beginning balance, January 1	$	39,956		$	30,409
Originated servicing	34,504			19,727
Amortization	(13,772		)	(10,180		)
Ending balance, December 31	60,688			39,956
Allowance, mortgage servicing rights:
Beginning balance, January 1	$	7,536		$	7,307
Additions	117			3,560
Recoveries	(7,065		)	(3,331		)
Ending balance, December 31	588			7,536
Mortgage servicing rights, net	$	60,100		$	32,420

The following table presents the unpaid principal balances of loans serviced for others as of the dates indicated:



	December 31,
	2013		2012
	(in thousands)
Balance of loans serviced for others
Residential	$	5,899,019	$	4,132,570
Commercial real estate	928,214		983,782
Commercial	519,055		132,903
Total	$	7,346,288	$	5,249,255

As of December 31, 2013, the residential portion of MSR was carried at approximately 88 basis points of the unpaid principal balance, compared with at 71 basis points as of December 31, 2012. Valuation inputs used in determining the fair value of MSR included:



	December 31,
	2013		2012
Key assumptions
Weighted average prepayment speed	9.3	%	18.3	%
Weighted average discount rate	10.2	%	10.1	%