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Mortgage Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 2018
Transfers and Servicing [Abstract]  
Activity for Mortgage Servicing Rights
The following table presents activity for MSRs for the three months ended March 31, 2018 and 2017.
Table 8.1 – Activity for MSRs
 
 
Three Months Ended March 31,
(In Thousands)
 
2018
 
2017
Balance at beginning of period
 
$
63,598

 
$
118,526

Additions
 
—

 
7,485

Sales
 
—

 
(11,928
)
Changes in fair value due to:
 
 
 
 
Changes in assumptions (1)
 
4,346

 
(657
)
Other changes (2)
 
(1,448
)
 
(2,413
)
Balance at End of Period
 
$
66,496

 
$
111,013

(1)
Primarily reflects changes in prepayment assumptions due to changes in market interest rates.
(2)
Represents changes due to the realization of expected cash flows.
Components of Mortgage Servicing Rights Income (Loss), net
The following table presents the components of our MSR income for the three months ended March 31, 2018 and 2017.
Table 8.2 – Components of MSR Income, net
 
 
Three Months Ended March 31,
(In Thousands)
 
2018
 
2017
Servicing income
 
$
3,796

 
$
6,907

Cost of sub-servicer
 
(592
)
 
(1,380
)
Net servicing fee income
 
3,204

 
5,527

Market valuation changes of MSRs
 
2,892

 
(3,070
)
Market valuation changes of associated derivatives
 
(5,139
)
 
(749
)
MSR reversal of provision for repurchases
 
—

 
5

MSR Income, Net
 
$
957

 
$
1,713