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Capitalized servicing assets (Tables)
12 Months Ended
Dec. 31, 2017
Transfers And Servicing [Abstract]  
Servicing Asset at Amortized Cost

Changes in capitalized servicing assets were as follows:

 

 

 

Residential Mortgage Loans

 

 

Commercial Mortgage Loans

 

For the Year Ended December 31,

 

2017

 

 

2016

 

 

2015

 

 

2017

 

 

2016

 

 

2015

 

 

 

(In thousands)

 

Beginning balance

 

$

117,351

 

 

$

118,303

 

 

$

109,871

 

 

$

103,764

 

 

$

83,692

 

 

$

72,939

 

Originations

 

 

28,792

 

 

 

28,618

 

 

 

35,556

 

 

 

34,620

 

 

 

40,117

 

 

 

29,914

 

Purchases

 

 

699

 

 

 

638

 

 

 

243

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

(31,864

)

 

 

(30,208

)

 

 

(27,367

)

 

 

(24,308

)

 

 

(20,045

)

 

 

(19,161

)

 

 

 

114,978

 

 

 

117,351

 

 

 

118,303

 

 

 

114,076

 

 

 

103,764

 

 

 

83,692

 

Valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

114,978

 

 

$

117,351

 

 

$

118,303

 

 

$

114,076

 

 

$

103,764

 

 

$

83,692

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

Total

 

For the Year Ended December 31,

 

2017

 

 

2016

 

 

2015

 

 

2017

 

 

2016

 

 

2015

 

 

 

(In thousands)

 

Beginning balance

 

$

 

 

$

729

 

 

$

4,107

 

 

$

221,115

 

 

$

202,724

 

 

$

186,917

 

Originations

 

 

 

 

 

 

 

 

 

 

 

63,412

 

 

 

68,735

 

 

 

65,470

 

Purchases

 

 

 

 

 

 

 

 

 

 

 

699

 

 

 

638

 

 

 

243

 

Amortization

 

 

 

 

 

(729

)

 

 

(3,378

)

 

 

(56,172

)

 

 

(50,982

)

 

 

(49,906

)

 

 

 

 

 

 

 

 

 

729

 

 

 

229,054

 

 

 

221,115

 

 

 

202,724

 

Valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

 

 

$

 

 

$

729

 

 

$

229,054

 

 

$

221,115

 

 

$

202,724

 

 

Economic Assumptions Used to Determine Fair Value of Capitalized Servicing Rights and Sensitivity of Value to Changes in Assumptions

 

 

 

Residential

 

 

Commercial

 

Weighted-average prepayment speeds

 

 

12.16

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(8,935,000

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(17,159,000

)

 

 

 

 

Weighted-average OAS

 

 

10.67

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(6,838,000

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(13,267,000

)

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

18.00

%

Impact on fair value of 10% adverse change

 

 

 

 

 

$

(5,885,000

)

Impact on fair value of 20% adverse change

 

 

 

 

 

 

(11,342,000

)