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Mortgage Loan Servicing and Loans Originated for Sale (Tables)
 12 Months Ended
Jun. 30, 2017
Transfers and Servicing [Abstract]  
Schedule of Mortgage Loans Serviced for Others
The following summarizes the unpaid principal balance of loans serviced for others by the Corporation at the dates indicated:
 
(In Thousands)
As of June 30,
2017
2016
2015
Loans serviced for Freddie Mac
$
13,907

$
6,819

$
4,206

Loans serviced for Fannie Mae
90,076

78,250

46,582

Loans serviced for FHLB – San Francisco
15,105

20,385

28,222

Loans serviced for other investors
216

15

1,048

Total loans serviced for others
$
119,304

$
105,469

$
80,058
Schedule of Mortgage Servicing Assets
The following table summarizes the Corporation’s MSA for years ended June 30, 2017 and 2016 :
 
Year Ended June 30,
(Dollars In Thousands)
2017
2016
 
 
 
MSA balance, beginning of fiscal year
$
795

$
644

Additions
269

394

Amortization
(167
)
(243
)
MSA balance, end of fiscal year, before allowance
897

795

Allowance
(158
)
(168
)
MSA balance, end of fiscal year
$
739

$
627

 
 
 
Fair value, beginning of fiscal year
$
627

$
470

Fair value, end of fiscal year
$
811

$
627

 
 
 
Allowance, beginning of fiscal year
$
168

$
248

Impairment recoveries
(10
)
(80
)
Allowance, end of fiscal year
$
158

$
168

 
 
 
Key Assumptions:
 
 
Weighted-average discount rate
9.11
%
9.07
%
Weighted-average prepayment speed
17.02
%
19.68
%
Schedule of Estimated Future Amortization of Mortgage Servicing Assets
The following table summarizes the estimated future amortization of MSA for the next five years and thereafter:
 
Amount
Year Ending June 30,
(In Thousands)
 
 
2018
$
188

2019
158

2020
127

2021
100

2022
80

Thereafter
244

Total estimated amortization expense
$
897
Schedule of Mortgage Servicing Assets, Hypothetical Effect on Fair Value
The following table represents the hypothetical effect on the fair value of the Corporation’s MSA using an unfavorable shock analysis of certain key valuation assumptions as of June 30, 2017 and 2016 .  This analysis is presented for hypothetical purposes only.  As the amounts indicate, changes in fair value based on changes in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value may not be linear.
 
Year Ended June 30,
(Dollars In Thousands)
2017
2016
MSA net carrying value
$
739

$
627

 
 
 
CPR assumption (weighted-average)
17.02
%
19.68
%
Impact on fair value with 10% adverse change in prepayment speed
$
(28
)
$
(29
)
Impact on fair value with 20% adverse change in prepayment speed
$
(55
)
$
(55
)
 
 
 
Discount rate assumption (weighted-average)
9.11
%
9.07
%
Impact on fair value with 10% adverse change in discount rate
$
(33
)
$
(21
)
Impact on fair value with 20% adverse change in discount rate
$
(64
)
$
(41
)
Schedule of Mortgage Servicing Assets Sold
Loans sold consisted of the following for the years indicated:
 
(In Thousands)
Year Ended June 30,
2017
2016
2015
Loans sold:
 
 
 
Servicing – released
$
1,935,349

$
1,948,423

$
2,392,251

Servicing – retained
38,250

45,798

17,663

Total loans sold
$
1,973,599

$
1,994,221

$
2,409,914
Schedule of Mortgage Servicing Assets Held For Sale
Loans held for sale, at fair value, at June 30, 2017 and 2016 consisted of the following:
 
(In Thousands)
June 30,
2017
2016
Fixed rate
$
115,703

$
186,203

Adjustable rate
845

3,255

Total loans held for sale, at fair value
$
116,548

$
189,458