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MORTGAGE SERVICING RIGHTS (Tables)
3 Months Ended
Mar. 31, 2015
MORTGAGE SERVICING RIGHTS [Abstract]  
Data and Assumptions Used in Fair Value Calculation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

 

 

2015

 

2014

 

2014

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

Unpaid principal balance

 

$
5,705,638 

 

$
5,568,829 

 

$
5,686,756 

Weighted-average prepayment speed (CPR)

 

12.4 

 

10.9 

 

11.6 

Discount rate (annual percentage)

 

9.8 

 

10.3 

 

9.8 

Weighted-average coupon interest rate (percentage)

 

4.1 

 

4.2 

 

4.1 

Weighted-average remaining maturity (months)

 

315.0 

 

312.0 

 

314.0 

Weighted-average servicing fee (basis points)

 

26.5 

 

26.6 

 

26.5 

 

Activity in Class of Mortgage Servicing Assets

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

 

 

 

 

 

(In thousands)

Fair value as of January 1

 

$        51,296

 

$         54,662

Additions:

 

 

 

 

Origination of servicing assets

 

2,499 

 

1,460 

Changes in fair value:

 

 

 

 

Due to payoffs/paydowns

 

(1,564)

 

(1,138)

Due to change in valuation inputs or assumptions

 

 

 

 

used in the valuation model

 

(3,039)

 

(1,547)

Other changes in fair value

 

(2)

 

(1)

Fair value as of March 31

 

$        49,190

 

$         53,436