XML 59 R45.htm IDEA: XBRL DOCUMENT v3.10.0.1
SERVICING RIGHTS (Tables)
 12 Months Ended
Dec. 31, 2018
Transfers and Servicing [Abstract]  
Schedule Of Income (Loss) From Servicing Rights
The following table presents a composition of total income from servicing rights, which is reported in Loan Servicing Income on the Consolidated Statements of Operations, on a consolidated operations basis, for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2018
 
2017
 
2016
Servicing fees for sold loans with servicing retained
 
$
5,048

 
$
19,642

 
$
23,117

Losses on the fair value and runoff of servicing rights
 
(1,328
)
 
(17,066
)
 
(17,732
)
Total income from servicing rights(1)
 
$
3,720

 
$
2,576

 
$
5,385


(1)
Includes $1.6 million and $4.8 million in Income from discontinued operations for the years ended December 31, 2017 and 2016.
Servicing Rights
The following table presents a composition of servicing rights, on a consolidated operations basis, as of the dates indicated:
 
 
December 31,
($ in thousands)
 
2018
 
2017
Mortgage servicing rights, at fair value
 
$
1,770

 
$
31,852

SBA servicing rights, at cost
 
1,658

 
1,856

Total
 
$
3,428

 
$
33,708
Mortgage Servicing Rights Fair Value and Weighted Average Life
The following table presents the key characteristics, inputs and economic assumptions used to estimate the fair value of the SBA servicing rights as of the dates indicated:
 
 
December 31,
($ in thousands)
 
2018
 
2017
Servicing rights
 
$
1,658

 
$
1,856

Discount rate
 
9.50
%
 
8.50
%
Constant prepayment rate
 
8.00
%
 
8.00
%
Weighted-average life
 
4.29 years

 
4.54 years

 
 
December 31,
($ in thousands)
 
2018
 
2017
Fair value of retained MSRs
 
$
1,704

 
$
2,059

Discount rate
 
13.00
%
 
13.00
%
Constant prepayment rate
 
17.21
%
 
16.54
%
Weighted-average life
 
4.93 years

 
5.07 years
Mortgage Servicing Rights
The following table presents activity in the MSRs, on a consolidated operations basis, for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2018
 
2017
 
2016
Balance at beginning of year
 
$
31,852

 
$
76,121

 
$
49,939

Additions
 
—

 
12,127

 
49,293

Changes in fair value resulting from valuation inputs or assumptions
 
(1,155
)
 
(10,240
)
 
(5,709
)
Sales of servicing rights (1)
 
(28,549
)
 
(39,345
)
 
(5,382
)
Other—loans paid off
 
(378
)
 
(6,811
)
 
(12,020
)
Balance at end of year
 
$
1,770

 
$
31,852

 
$
76,121


(1) Includes $37.8 million of MSRs sold as a part of discontinued operations for the year ended December 31, 2017.
Small Business Administration Servicing Rights
The following table presents activity in the SBA servicing rights for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2018
 
2017
 
2016
Balance at beginning of year
 
$
1,856

 
$
1,496

 
$
788

Additions
 
127

 
761

 
877

Amortization, including prepayments
 
(298
)
 
(318
)
 
(157
)
Impairment
 
(27
)
 
(83
)
 
(12
)
Balance at end of year
 
$
1,658

 
$
1,856

 
$
1,496