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Mortgage Servicing - Summary of Activity in Carrying Value of Amortization Method Servicing Assets (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Servicing Asset at Amortized Cost, Balance [Roll Forward] |  |  |  |  |
Fair value election - transfer of MSRs carried at fair value |  | $ (336,882) | $ 0 | $ 0 |
Estimated fair value at end of year |  | 1,457,149 | 671,962 | 679,256 | $ 761,190
Mortgage Servicing Rights - Amortized Costs [Member] |  |  |  |  |
Servicing Asset at Amortized Cost, Balance [Roll Forward] |  |  |  |  |
Beginning balance, MSRs |  | 336,882 | 363,722 | 377,379 |
Fair value election - transfer of MSRs carried at fair value | [1] | (361,670) | 0 | 0 |
Additions recognized in connection with asset acquisitions |  | 0 | 1,658 | 17,356 |
Additions recognized on the sale of mortgage loans |  | 0 | 20,738 | 37,230 |
Sales |  | 0 | (1,066) | (24,452) |
Servicing transfers and adjustments |  | 0 | 252 | 0 |
Mortgage servicing rights, gross |  | (24,788) | 385,304 | 407,513 |
Valuation allowance of MSRs | [1],[2] | 24,788 | 3,366 | (10,813) |
Amortization | [1] | 0 | (51,788) | (32,978) |
Ending balance, MSRs |  | 0 | 336,882 | 363,722 |
Estimated fair value at end of year |  | $ 0 | $ 418,745 | $ 467,911 |
[1] | Effective January 1, 2018, we elected fair value accounting for our MSRs previously accounted for using the amortization method, which included Agency MSRs and government-insured MSRs. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with each of these classes. We recorded a cumulative-effect adjustment of $82.0 million to retained earnings as of January 1, 2018 to reflect the excess of the fair value of the Agency MSRs over their carrying amount. We also recognized the tax effect of this adjustment through an increase in retained earnings of $6.8 million and a deferred tax asset for the same amount. However, we established a full valuation allowance on the resulting deferred tax asset through a reduction in retained earnings. The government-insured MSRs were impaired by $24.8 million at December 31, 2017; therefore, these MSRs were already effectively carried at fair value.
[2] | Impairment of MSRs is recognized in MSR valuation adjustments, net in the consolidated statements of operations for 2017 and 2016. Impairment valuation allowance balance of $24.8 million was reclassified to reduce the carrying value of the related MSRs on January 1, 2018 in connection with our fair value election. See Note 4 — Fair Value for additional information regarding impairment and the valuation allowance.

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- Definition Amortized amount of contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 4 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=68078379&loc=d3e122739-111746 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7524895&loc=d3e120260-111741 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 + Details
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