Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Changes in Residential and Participation Mortgage Servicing Rights

The following table presents the changes in the balances of residential MSRs and participation MSRs for the years ended December 31, 2017 and 2016:

	For the Years Ended December 31,
	2017						2016
(in thousands)	Residential			Participation			Residential			Participation
Carrying value, beginning of year	$	228,099		$	5,862		$	243,389		$	4,345
Additions		18,054			710			45,588			3,774
Sales		(208,827	)		—			—			—
Increase (decrease) in fair value:
Due to changes in interest rates		(2,096	)		—			3,341			—
Due to model assumption changes (1)		—			—			(13,088	)		—
Due to loan payoffs		(22,610	)		—			(33,425	)		—
Due to passage of time and other changes		(9,891	)		—			(17,706	)		—
Amortization		—			(3,201	)		—			(2,257	)
Carrying value, end of period	$	2,729		$	3,371		$	228,099		$	5,862

(1) Represents changes in fair value driven by changes to the inputs to the valuation model related to assumed prepayment

speeds.

Key Assumptions Used in Calculation of Fair Value of Residential Mortgage Servicing Rights

The following table presents the key assumptions used in calculating the fair value of the Company’s residential MSRs at the dates indicated:

	December 31,
	2017			2016
Expected weighted average life		87 months			82 months
Constant prepayment speed		9.81	%		8.70	%
Discount rate		12.00			10.05
Primary mortgage rate to refinance		4.02			4.11
Cost to service (per loan per year):
Current		$     70			$     64
30-59 days or less delinquent		220			214
60-89 days delinquent		370			364
90-119 days delinquent		470			464
120 days or more delinquent		870			864