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Capitalized servicing assets (Tables)
12 Months Ended
Dec. 31, 2021
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,

 

2021

 

 

2020

 

 

2019

 

 

2021

 

 

2020

 

 

2019

 

 

 

(In thousands)

 

Beginning balance

 

$

231,204

 

 

$

244,411

 

 

$

120,509

 

 

$

133,429

 

 

$

130,636

 

 

$

114,663

 

Originations

 

 

65,723

 

 

 

45,101

 

 

 

26,067

 

 

 

33,068

 

 

 

29,306

 

 

 

41,370

 

Purchases

 

 

 

 

 

 

 

 

144,326

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

(55,874

)

 

 

(58,308

)

 

 

(46,491

)

 

 

(33,893

)

 

 

(26,513

)

 

 

(25,397

)

 

 

 

241,053

 

 

 

231,204

 

 

 

244,411

 

 

 

132,604

 

 

 

133,429

 

 

 

130,636

 

Valuation allowance

 

 

(24,000

)

 

 

(30,000

)

 

 

(7,000

)

 

 

 

 

 

 

 

 

 

Ending balance, net

 

$

217,053

 

 

$

201,204

 

 

$

237,411

 

 

$

132,604

 

 

$

133,429

 

 

$

130,636

 

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

 

 

 

Residential

 

 

Commercial

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Weighted-average prepayment speeds

 

 

12.92

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(13,587

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(26,047

)

 

 

 

 

Weighted-average OAS

 

 

8.94

%

 

 

 

 

Impact on fair value of 10% adverse change

 

$

(7,621

)

 

 

 

 

Impact on fair value of 20% adverse change

 

 

(14,786

)

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

18.00

%

Impact on fair value of 10% adverse change

 

 

 

 

 

$

(6,892

)

Impact on fair value of 20% adverse change

 

 

 

 

 

 

(13,306

)