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Mortgage Servicing Rights | 3 Months Ended
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Mar. 31, 2018
Transfers and Servicing [Abstract] |
Mortgage Servicing Rights | Mortgage Servicing Rights (In Thousands) The Company retains the right to service certain mortgage loans that it sells to secondary market investors. These mortgage servicing rights (“MSRs”) are recognized as a separate asset on the date the corresponding mortgage loan is sold. MSRs are amortized in proportion to and over the period of estimated net servicing income. These servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, prepayment speeds, market discount rates, servicing costs, and other factors. Impairment losses on MSRs are recognized to the extent by which the unamortized cost exceeds fair value. There were no impairment losses recognized during the three months ended March 31, 2018 and 2017. Changes in the Company’s MSRs were as follows:
Balance at January 1, 2018 | $ | 39,339 |
Capitalization | 2,098 |
Amortization | (1,221 | )
Balance at March 31, 2018 | $ | 40,216 |
Data and key economic assumptions related to the Company’s MSRs as of March 31, 2018 and December 31, 2017 are as follows:
| March 31, 2018 |  | December 31, 2017
Unpaid principal balance | $ | 4,089,045 |  |  | $ | 4,012,519 |
Weighted-average prepayment speed (CPR) | 7.42 | % |  | 8.04 | %
Estimated impact of a 10% increase | $ | (1,692 | ) |  | $ | (1,592 | )
Estimated impact of a 20% increase | (3,280 | ) |  | (3,095 | )
Discount rate | 9.40 | % |  | 9.69 | %
Estimated impact of a 10% increase | $ | (2,374 | ) |  | $ | (2,027 | )
Estimated impact of a 20% increase | (4,556 | ) |  | (3,896 | )
Weighted-average coupon interest rate | 3.89 | % |  | 3.89 | %
Weighted-average servicing fee (basis points) | 26.54 |  |  | 26.36 |
Weighted-average remaining maturity (in years) | 8.27 |  |  | 7.98 |
The Company recorded servicing fees of $2,370 and $1,233 for the three months ended March 31, 2018 and 2017, respectively, which are included in “Mortgage banking income” in the Consolidated Statements of Income.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
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