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Commercial Mortgage Banking (Tables) | 12 Months Ended
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Dec. 31, 2014
Transfers and Servicing [Abstract] |
Unpaid Principal Balance of Loans | The total unpaid principal balance of loans the Company was servicing for various institutional investors was as follows at December 31, 2014 and 2013:
(Expressed in thousands) |  |  |
| 2014 |  | 2013
Unpaid principal balance of loans | $ | 4,134,894 |  |  | $ | 3,885,437 |
Summary of Changes in Carrying Value of Mortgage Servicing Rights | The following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2014 and 2013:
(Expressed in thousands) |  |  |
| Year Ended December 31,
| 2014 |  | 2013
Balance at beginning of year | $ | 28,879 |  |  | $ | 26,983 |
Originations (1) | 5,956 |  |  | 7,351 |
Purchases | 345 |  |  | 1,344 |
Disposals (1) | (2,221 | ) |  | (4,918 | )
Amortization expense | (2,819 | ) |  | (1,881 | )
Balance at end of year | $ | 30,140 |  |  | $ | 28,879 |
(1) | Includes refinancings
Schedule of Amortization Expense | Servicing rights are amortized using the straight-line method over 10 years. Estimated amortization expense for the next five years and thereafter is as follows:
(Expressed in thousands) |  |  |  |  |
| Originated MSRs |  | Purchased MSRs |  | Total MSRs
2015 | $ | 2,954 |  |  | $ | 1,285 |  |  | $ | 4,240 |
2016 | 2,953 |  |  | 1,285 |  |  | 4,238 |
2017 | 2,947 |  |  | 1,283 |  |  | 4,230 |
2018 | 2,921 |  |  | 1,272 |  |  | 4,193 |
2019 | 2,819 |  |  | 1,207 |  |  | 4,026 |
Thereafter | 7,181 |  |  | 2,032 |  |  | 9,213 |
| $ | 21,775 |  |  | $ | 8,364 |  |  | $ | 30,140 |
Components of Mortgage Servicing Rights Fees | The Company receives fees during the course of servicing the mortgage loans. The amount of these fees for the years ended December 31, 2014, 2013 and 2012 was as follows:
(Expressed in thousands) |  |  |  |  |
| For the Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Servicing fees | $ | 5,552 |  |  | $ | 5,049 |  |  | $ | 4,177 |
Ancillary fees | 328 |  |  | 528 |  |  | 537 |
Total MSR fees | $ | 5,880 |  |  | $ | 5,577 |  |  | $ | 4,714 |

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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
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- Definition Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7882072&loc=d3e122739-111746 + Details
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