Mortgage Servicing

12 Months Ended

Dec. 31, 2017

Mortgage Servicing

Mortgage Servicing

Note 7—Mortgage Servicing

        An analysis of the product and geographic concentrations that impact our servicing revenue is as follows ($ in thousands):

December 31, 2017
Product Concentrations						Geographic Concentrations
Product	UPB		Percent of Total			State	UPB Percent of Total
Fannie Mae	$	12,502,699		77	%	Texas		22	%
Freddie Mac		3,166,134		20	%	North Carolina		10	%
FHA		537,482		3	%	California		8	%
Total	$	16,206,315		100	%	New York		8	%
						Georgia		6	%
						Florida		6	%
						Other(1)		40	%
						Total		100	%

December 31, 2016
Product Concentrations						Geographic Concentrations
Product	UPB		Percent of Total			State	UPB Percent of Total
Fannie Mae	$	11,181,152		83	%	Texas		24	%
Freddie Mac		1,953,245		14	%	North Carolina		9	%
FHA		420,689		3	%	California		8	%
Total	$	13,555,086		100	%	New York		8	%
						Georgia		5	%
						Florida		4	%
						Other(1)		42	%
						Total		100	%

(1)     No other individual state represented more than 4% of the total.

        At December 31, 2017 and 2016, our weighted average servicing fee was 47.7 basis points and 47.8 basis points, respectively. We held cash in escrow for these loans totaling $477.9 million and $401.7 million at December 31, 2017 and 2016, respectively, which is not reflected in our consolidated balance sheets. These escrows are maintained in separate accounts at several federally insured depository institutions, which may exceed FDIC insured limits. We earn interest income on these escrow deposits, generally based on a market rate of interest negotiated with the financial institutions that hold the escrow deposits. Escrow earnings reflect interest income net of interest paid to the borrower, if required, and is a component of servicing revenue, net in the consolidated statements of income.