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Mortgage servicing rights
3 Months Ended
Mar. 31, 2021
Transfers and Servicing of Financial Assets [Abstract]  
Mortgage servicing rights Mortgage servicing rights:
Changes in the Company’s mortgage servicing rights were as follows for the three months ended March 31, 2021 and 2020:
 Three Months Ended March 31,
 2021 2020 
Carrying value at beginning of period$79,997 $75,521 
Capitalization11,594 7,796 
Change in fair value:
Due to pay-offs/pay-downs(9,321)(4,643)
Due to change in valuation inputs or assumptions21,922 (16,093)
Carrying value at end of period$104,192 $62,581 

The following table summarizes servicing income and expense, which are included in 'Mortgage banking income' and 'Other noninterest expense', respectively, within the Mortgage segment operating results for the three months ended March 31, 2021 and 2020: 
 Three Months Ended March 31,
 2021 2020 
Servicing income:
Servicing income$6,931 $5,018 
Change in fair value of mortgage servicing rights12,601 (20,736)
Change in fair value of derivative hedging instruments(17,864)14,868 
Servicing income1,668 (850)
Servicing expenses2,532 1,401 
Net servicing loss (1)
$(864)$(2,251)
(1) Excludes benefit of custodial service related noninterest-bearing deposits held by the Bank.
Data and key economic assumptions related to the Company’s mortgage servicing rights as of March 31, 2021 and December 31, 2020 are as follows: 
 March 31,December 31,
 20212020
Unpaid principal balance$10,113,716 $9,787,657 
Weighted-average prepayment speed (CPR)8.04 %14.07 %
Estimated impact on fair value of a 10% increase$(4,247)$(4,493)
Estimated impact on fair value of a 20% increase$(8,191)$(8,599)
Discount rate11.81 %11.49 %
Estimated impact on fair value of a 100 bp increase$(4,166)$(2,942)
Estimated impact on fair value of a 200 bp increase$(8,024)$(5,674)
Weighted-average coupon interest rate3.45 %3.58 %
Weighted-average servicing fee (basis points)2828
Weighted-average remaining maturity (in months)329328
The Company hedges the mortgage servicing rights portfolio with various derivative instruments to offset changes in the fair value of the related mortgage servicing rights. See Note 10, "Derivatives" for additional information on these hedging instruments.
As of March 31, 2021 and December 31, 2020, mortgage escrow deposits totaled to $170,861 and $147,957, respectively.