HFF Inactive 10-Q10 Nov 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Oct. 31, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'HF	'
Entity Registrant Name	'HFF, Inc.	'
Entity Central Index Key	'0001380509	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Class A Shares Outstanding	'	37,676,946

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$160,709	$201,262
Accounts receivable	3,693	1,093
Receivable from affiliate	2	0
Mortgage notes receivable	189,847	93,587
Prepaid taxes	1,266	1,000
Prepaid expenses and other current assets	3,265	2,495
Deferred tax asset, net	3,953	8,779
Total current assets, net	362,735	308,216
Property and equipment, net	7,987	6,586
Deferred tax asset, net	143,736	152,320
Goodwill	3,712	3,712
Intangible assets, net	17,498	16,776
Other noncurrent assets	1,132	566
Total Assets	536,800	488,176
Current liabilities:	'	'
Current portion of long-term debt	301	258
Warehouse line of credit	189,847	93,587
Accrued compensation and related taxes	39,085	53,253
Accounts payable	1,275	1,378
Payable under tax receivable agreement	10,789	10,831
Other current liabilities	7,802	12,524
Total current liabilities	249,099	171,831
Deferred rent credit	6,014	5,801
Payable under the tax receivable agreement, less current portion	123,367	134,785
Long-term debt, less current portion	406	185
Total liabilities	378,886	312,602
Stockholders' equity:	'	'
Treasury stock, 447,382 and 250,380 shares at cost, respectively	-9,042	-2,760
Additional paid-in-capital	99,562	76,097
Retained earnings	67,013	101,865
Total equity	157,914	175,574
Total liabilities and stockholders' equity	536,800	488,176
Class A Common Stock [Member]	'	'
Stockholders' equity:	'	'
Class A common stock, par value $0.01 per share, 175,000,000 authorized; 38,124,328 and 37,498,796 shares issued, respectively; 37,676,946 and 37,248,416 shares outstanding, respectively	$381	$372

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Treasury stock, shares	447,382	250,380
Class A Common Stock [Member]	'	'
Common stock, par value	0.01	0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	38,124,328	37,498,796
Common stock, shares outstanding	37,676,946	37,248,416

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Capital markets services revenue	$110,786	$88,546	$279,506	$221,509
Interest on mortgage notes receivable	1,213	299	2,346	1,619
Other	612	569	1,577	1,509
Total revenues	112,611	89,414	283,429	224,637
Expenses	'	'	'	'
Cost of services	63,761	49,752	163,178	131,186
Personnel	11,268	11,029	36,343	28,223
Occupancy	2,454	2,406	7,137	6,701
Travel and entertainment	2,414	2,130	8,485	6,698
Supplies, research, and printing	1,556	1,307	4,576	3,710
Insurance	512	490	1,527	1,478
Professional fees	929	970	3,267	2,902
Depreciation and amortization	1,966	1,550	5,902	5,146
Interest on warehouse line of credit	638	142	1,252	977
Other operating	1,330	993	4,155	3,682
Total expenses	86,828	70,769	235,822	190,703
Operating income	25,783	18,645	47,607	33,934
Interest and other income, net	4,144	3,546	10,295	14,157
Interest expense	-16	-8	-32	-26
(Increase) decrease in payable under the tax receivable agreement	299	-701	800	-1,040
Income before income taxes	30,210	21,482	58,670	47,025
Income tax expense	12,184	8,137	24,329	18,264
Net income	$18,026	$13,345	$34,341	$28,761
Earnings per share - Basic and Diluted	'	'	'	'
Income available to HFF, Inc. common stockholders - Basic	$0.48	$0.36	$0.91	$0.77
Income available to HFF, Inc. common stockholders - Diluted	$0.47	$0.35	$0.91	$0.76

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock Outstanding [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]
In Thousands, except Share data	USD ($)	Class A Common Stock [Member]	Class A Common Stock [Member]	USD ($)	USD ($)	USD ($)
			USD ($)
Beginning balance at Dec. 31, 2012	$121,022	'	$371	($1,055)	$71,267	$50,439
Beginning balance, shares at Dec. 31, 2012	'	37,063,844	'	157,617	'	'
Stock compensation and other, net	3,986	'	'	'	3,986	'
Excess tax benefits from share-based award activities	494	'	'	'	494	'
Issuance of Class A common stock, net	2	'	2	'	'	'
Issuance of Class A common stock, net, shares	'	277,335	'	'	'	'
Repurchase of Class A common stock	-1,706	'	-1	-1,705	'	'
Repurchase of Class A common stock, shares	'	-92,763	'	92,763	'	'
Net income	28,761	'	'	'	'	28,761
Ending balance at Sep. 30, 2013	152,559	'	372	-2,760	75,747	79,200
Ending balance, shares at Sep. 30, 2013	'	37,248,416	'	250,380	'	'
Beginning balance at Dec. 31, 2013	175,574	'	372	-2,760	76,097	101,865
Beginning balance, shares at Dec. 31, 2013	'	37,248,416	'	250,380	'	'
Stock compensation and other, net	21,476	'	'	'	21,476	'
Excess tax benefits from share-based award activities	971	'	'	'	971	'
Issuance of Class A common stock, net	'	'	9	'	-9	'
Issuance of Class A common stock, net, shares	'	625,532	'	'	'	'
Repurchase of Class A common stock	-6,282	'	'	-6,282	'	'
Repurchase of Class A common stock, shares	'	-197,002	'	197,002	'	'
Dividends paid	-68,166	'	'	'	1,027	-69,193
Net income	34,341	'	'	'	'	34,341
Ending balance at Sep. 30, 2014	$157,914	'	$381	($9,042)	$99,562	$67,013
Ending balance, shares at Sep. 30, 2014	'	37,676,946	'	447,382	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities	'	'
Net income	$34,341	$28,761
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Stock based compensation	8,242	6,450
Excess tax benefits from share-based award activities	-971	-494
Deferred taxes	13,410	7,644
(Decrease) increase in payable under the tax receivable agreement	-800	1,040
Depreciation and amortization:	'	'
Property and equipment	1,556	1,262
Intangibles	4,347	3,885
Gain on sale or disposition of assets, net	-3,636	-6,684
Mortgage service rights assumed	-3,023	-1,569
Proceeds from sale of mortgage servicing rights	1,590	5,425
Increase (decrease) in cash from changes in:	'	'
Accounts receivable	-2,600	-1,942
Receivable from affiliates	-2	124
Payable under the tax receivable agreement	-10,660	-10,368
Mortgage notes receivable	-96,260	254,612
Net borrowings on warehouse line of credit	96,260	-254,612
Prepaid taxes, prepaid expenses and other current assets	-1,036	-3,579
Other noncurrent assets	-566	141
Accrued compensation and related taxes	-934	7,400
Accounts payable	-103	232
Other accrued liabilities	-3,751	-1,417
Other long-term liabilities	213	1,366
Net cash provided by operating activities	35,617	37,677
Investing activities	'	'
Purchases of property and equipment	-2,440	-3,272
Net cash used in investing activities	-2,440	-3,272
Financing activities	'	'
Payments on long-term debt	-253	-257
Excess tax benefits from share-based award activities	971	494
Dividends paid	-68,166	'
Treasury stock	-6,282	-1,705
Net cash used in financing activities	-73,730	-1,468
Net (decrease) increase in cash	-40,553	32,937
Cash and cash equivalents, beginning of period	201,262	126,331
Cash and cash equivalents, end of period	$160,709	$159,268

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2014
Accounting Policies [Abstract]	'
Organization and Basis of Presentation	'
	1. Organization and Basis of Presentation
	Organization
	HFF, Inc., a Delaware corporation (the “Company”), through its Operating Partnerships, Holliday Fenoglio Fowler, L.P., a Texas limited partnership (“HFF LP”), and HFF Securities L.P., a Delaware limited partnership and registered broker-dealer (“HFF Securities” and together with HFF LP, the “Operating Partnerships”), is a commercial real estate financial intermediary providing commercial real estate and capital markets services including debt placement, investment sales, equity placements, investment banking and advisory services, loan sales and loan sale advisory services, commercial loan servicing, and capital markets advice and maintains 23 offices in the United States.
	Initial Public Offering and Reorganization
	The Company was formed in November 2006 in connection with a proposed initial public offering of its Class A common stock. On November 9, 2006, the Company filed a registration statement on Form S-1 with the United States Securities and Exchange Commission (the “SEC”) relating to a proposed underwritten initial public offering of 14,300,000 shares of Class A common stock of the Company (the “Offering”). On January 30, 2007, the SEC declared the registration statement on Form S-1 effective and the Company priced 14,300,000 shares for the initial public offering at a price of $18.00 per share. On January 31, 2007, the Company’s common stock began trading on the New York Stock Exchange under the symbol “HF.”
	The proceeds of the Offering were used to purchase from HFF Holdings LLC, a Delaware limited liability company (“HFF Holdings”), all of the shares of Holliday GP Corp. (“Holiday GP”) and partnership units representing approximately 38.9% of each of the Operating Partnerships (including partnership units in the Operating Partnerships held by Holliday GP).
	On February 21, 2007, the underwriters exercised their option to purchase an additional 2,145,000 shares of Class A common stock (15% of original issuance) at $18.00 per share. These proceeds were used to purchase HFF Holdings partnership units representing approximately 5.8% of each of the Operating Partnerships. The Company did not retain any of the proceeds from the Offering.
	In addition to cash received for its sale of all of the shares of Holliday GP and approximately 44.7% of partnership units of each of the Operating Partnerships (including partnership units in the Operating Partnerships held by Holliday GP), HFF Holdings also received, through the issuance of one share of the Company’s Class B common stock to HFF Holdings, an exchange right that permitted HFF Holdings to exchange interests in the Operating Partnerships for shares of (i) the Company’s Class A common stock (the “Exchange Right”) and (ii) rights under a tax receivable agreement between the Company and HFF Holdings. Since all of the partnership units had been exchanged as of August 31, 2012, the Class B common stock was transferred to the Company and retired on August 31, 2012 in accordance with the Company’s certificate of incorporation. See Note 12 for further discussion of the tax receivable agreement.
	As a result of the reorganization, the Company became a holding company through a series of transactions pursuant to a sale and purchase agreement. Pursuant to the Offering and reorganization, the Company’s sole assets are, through its wholly-owned subsidiary HFF Partnership Holdings, LLC, a Delaware limited liability company (“HoldCo LLC”), partnership interests of HFF LP and HFF Securities and all of the shares of Holliday GP. The transactions that occurred in connection with the initial public offering and reorganization are referred to as the “Reorganization Transactions.”
	Basis of Presentation
	The accompanying consolidated financial statements of the Company as of September 30, 2014 and December 31, 2013 and for the three and nine month periods ended September 30, 2014 and September 30, 2013, include the accounts of HFF LP, HFF Securities, and the Company’s wholly-owned subsidiaries, Holliday GP and HoldCo LLC. All significant intercompany accounts and transactions have been eliminated.
	The purchase of shares of Holliday GP and partnership units in each of the Operating Partnerships are treated as a reorganization under common control for financial reporting purposes. HFF Holdings owned 100% of Holliday GP, HFF LP Acquisition, LLC, a Delaware limited liability company (“Holdings Sub”), and the Operating Partnerships prior to the Reorganization Transactions. The initial purchase of shares of Holliday GP and the initial purchase of units in the Operating Partnerships were accounted for at historical cost, with no change in basis for financial reporting purposes. Accordingly, the net assets of HFF Holdings purchased by the Company are reported in the consolidated financial statements of the Company at HFF Holdings’ historical cost.
	As the sole stockholder of Holliday GP (the sole general partner of the Operating Partnerships), the Company now operates and controls all of the business and affairs of the Operating Partnerships. The Company consolidates the financial results of the Operating Partnerships.
	Pending Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued changes to revenue recognition with customers. This update provides a five-step analysis of transactions to determine when and how revenue is recognized. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update will be effective for the Company beginning in fiscal year 2017. This update may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this update recognized at the date of initial application. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2. Summary of Significant Accounting Policies
	These interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. Accordingly, significant accounting policies and disclosures normally provided have been omitted as such items are disclosed therein. In the opinion of management, all adjustments consisting of normal and recurring entries considered necessary for a fair presentation of the results for the interim periods presented have been included. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. These estimates are based on information available as of the date of the unaudited consolidated financial statements. Therefore, actual results could differ from those estimates. Furthermore, operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results expected for the year ending December 31, 2014.
	The Company has a firm profit participation plan and office profit participation plans (the “Plans”) that allow for incentive payments to be made, based on achieving various performance metrics, either in the form of cash or stock at the election of the Company’s board of directors. The expense associated with the Plans is included within personnel expenses in the consolidated statements of income. The expense recorded for these Plans is estimated during the year based on actual results at each interim reporting date and an estimate of future results for the remainder of the year. The Plans allow for payments to be made in both cash and share-based awards, the composition of which is determined in the first calendar quarter of the subsequent year. Cash and share-based awards issued under these Plans are subject to vesting conditions over the subsequent year, such that the total expense measured for these Plans is recorded over the period from the beginning of the performance year through the vesting date. Based on an accounting policy election, the expense associated with the share-based component of the estimated incentive payout is recognized before the grant date of the share-based awards due to the fact that the terms of the Plans have been approved by the Company’s board of directors and the employees of the Company understand the requirements to earn the award. Prior to the grant date, the share-based component expense is recorded as incentive compensation expense within personnel expenses in the Company’s consolidated statements of income. Following the award, if any, of the related incentive payout, the share-based component expense is reclassified as stock compensation costs within personnel expenses and the share-based component of the accrued incentive compensation is reclassified as additional paid-in-capital upon the granting of the awards on the Company’s consolidated balance sheets.

Stock_Compensation

Stock Compensation	9 Months Ended
Stock Compensation	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Compensation	'

	3. Stock Compensation

	The stock compensation cost that has been charged against income for the three and nine months ended September 30, 2014 was $1.6 million and $8.2 million, respectively, which is recorded in personnel expenses in the consolidated statements of income. The stock compensation cost that has been charged against income for the three and nine months ended September 30, 2013 was $3.2 million and $6.4 million, respectively. At September 30, 2014, there was approximately $20.2 million of unrecognized compensation cost related to non-vested restricted stock units with a weighted average remaining contractual term of 3.7 years. As of September 30, 2014, there were 895,123 restricted stock units outstanding. Stock compensation expense related to the liability awards, which final vesting was on March 1, 2014, that has been included within income for the three and nine months ended September 30, 2014 was $0.0 million and $3.3 million, respectively. Stock compensation expense related to the liability awards that has been included within income for the three and nine months ended September 30, 2013 was $2.9 million and $4.9 million, respectively.



	During the three month period ended September 30, 2014, no options were granted, vested, exercised or forfeited.

	During the three month period ended September 30, 2014, no new restricted stock units were granted or vested, and no restricted stock units were forfeited.

	The fair value of vested restricted stock units was $4.3 million at September 30, 2014.

Property_and_Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property and Equipment	'
	4. Property and Equipment
	Property and equipment consist of the following (dollars in thousands):


		September 30,			December 31,
		2014			2013
	Furniture and equipment	$	6,212		$	5,066
	Computer equipment		1,142			970
	Capitalized software costs		703			530
	Leasehold improvements		8,807			7,786

	Subtotal		16,864			14,352
	Less accumulated depreciation and amortization		(8,877	)		(7,766	)

		$	7,987		$	6,586

	At September 30, 2014 and December 31, 2013, the Company has recorded, within furniture and equipment, office equipment under capital leases of $1.4 million and $1.1 million, respectively, including accumulated amortization of $0.7 million and $0.7 million, respectively, which is included within depreciation and amortization expense in the accompanying consolidated statements of income. See Note 7 for discussion of the related capital lease obligations.

Intangible_Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'

	5. Intangible Assets

	The Company’s intangible assets are summarized as follows (dollars in thousands):



		September 30, 2014								December 31, 2013
		Gross		Accumulated			Net			Gross			Accumulated			Net
		Carrying		Amortization			Book			Carrying			Amortization			Book
		Amount					Value			Amount						Value
	Amortizable intangible assets:
	Mortgage servicing rights	$	36,973	$	(19,575	)	$	17,398		$	34,100		$	(17,424	)	$	16,676
	Unamortizable intangible assets:
	FINRA license		100		—			100			100			—			100

	Total intangible assets	$	37,073	$	(19,575	)	$	17,498		$	34,200		$	(17,424	)	$	16,776


	As of September 30, 2014 and December 31, 2013, the Company serviced $37.1 billion and $33.1 billion, respectively, of commercial loans. The Company earned $4.3 million and $12.5 million in servicing fees and interest on float and escrow balances for the three and nine month periods ending September 30, 2014, respectively. The Company earned $4.0 million and $11.8 million in servicing fees and interest on float and escrow balances for the three and nine month periods ending September 30, 2013, respectively. These revenues are recorded as capital markets services revenues in the consolidated statements of income.

	The total commercial loan servicing portfolio includes loans for which there are no corresponding mortgage servicing rights recorded on the balance sheet, as these servicing rights were assumed prior to the Company’s adoption of ASC 860, Transfers and Servicing (ASC 860) on January 1, 2007 and involved no initial consideration paid by the Company. The Company recorded mortgage servicing rights of $17.4 million and $16.7 million on $32.1 billion and $27.0 billion, respectively, of the total loans serviced as of September 30, 2014 and December 31, 2013.

	The Company stratifies its servicing portfolio based on the type of loan, including life company loans, commercial mortgage backed securities (CMBS), Freddie Mac and limited-service life company loans.



	Changes in the carrying value of mortgage servicing rights for the nine month periods ended September 30, 2014 and 2013, were as follows (dollars in thousands):



	Category	12/31/13		Capitalized			Amortized			Sold /			9/30/14
	Category	12/31/13		Capitalized			Amortized			Transferred			9/30/14
	Freddie Mac	$	3,730	$	2,465		$	(1,265	)	$	(1,831	)	$	3,099
	CMBS		10,978		1,637			(1,962	)		1,412			12,065
	Life company		1,537		1,231			(930	)		—			1,838
	Life company – limited		431		155			(190	)		—			396

	Total	$	16,676	$	5,488		$	(4,347	)	$	(419	)	$	17,398




	Category	12/31/12		Capitalized			Amortized			Sold /			9/30/13
	Category	12/31/12		Capitalized			Amortized			Transferred			9/30/13
	Freddie Mac	$	7,641	$	2,463		$	(1,041	)	$	(5,133	)	$	3,930
	CMBS		7,838		606			(1,463	)		3,948			10,929
	Life company		2,021		748			(1,236	)		—			1,533
	Life company – limited		299		215			(138	)		—			376

	Total	$	17,799	$	4,032		$	(3,878	)	$	(1,185	)	$	16,768


	Amounts capitalized represent mortgage servicing rights retained upon the sale of originated loans to Freddie Mac and mortgage servicing rights acquired without the exchange of initial consideration. The Company recorded mortgage servicing rights retained upon the sale of originated loans to Freddie Mac of $1.0 million and $2.5 million on $406.1 million and $937.6 million of loans, respectively, during the three and nine month periods ending September 30, 2014, respectively and $0.6 million and $2.5 million on $181.0 million and $829.9 million of loans, respectively, during the three and nine month periods ending September 30, 2013, respectively. The Company recorded mortgage servicing rights acquired without the exchange of initial consideration on the CMBS and Life company tranches of $0.8 million and $3.0 million on $2.4 billion and $5.9 billion of loans, respectively, during the three and nine month periods ending September 30, 2014, respectively and $0.7 million and $1.6 million on $1.5 billion and $3.6 billion of loans, respectively, during the three and nine month periods ending September 30, 2013. During the nine months ending September 30, 2014 and 2013, the Company sold the cashiering portion of certain Freddie Mac mortgage servicing rights. While the Company transferred the risks and rewards of ownership of the cashiering portion of the mortgage servicing rights, the Company continues to perform limited servicing activities on these loans for a reduced market-based fee. Therefore, the remaining servicing rights were transferred to the CMBS servicing tranche. The net result of these transactions was the Company recording a gain in the three and nine months ending September 30, 2014 of $0.5 million and $1.2 million, respectively, and $1.1 million and $4.2 million during the three and nine month periods ending September 30, 2013, respectively, within interest and other income, net in the consolidated statements of income. The Company also received securitization compensation in relation to the sale of the cashiering portion of certain Freddie Mac mortgage servicing rights in the three and nine months ending September 30, 2014 of $0.8 million and $1.5 million, respectively, and $0.8 million and $4.4 million during the three and nine month periods ending September 30, 2013, respectively. The securitization compensation is recorded within interest and other income, net in the consolidated statements of income.

	Amortization expense related to intangible assets was $1.4 million and $4.3 million during the three and nine month periods ended September 30, 2014 and $1.1 million and $3.9 million during the three and nine month periods ending September 30, 2013, respectively, and is recorded in depreciation and amortization in the consolidated statements of income.

	Estimated amortization expense for the next five years is as follows (dollars in thousands):



	Remainder of 2014	$	1,222
	2015		4,374
2016		3,537
2017		2,529
2018		1,879
2019		1,399

The weighted-average life of the mortgage servicing rights intangible asset was 5.9 years at September 30, 2014.

Fair_Value_Measurement

Fair Value Measurement

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurement

6. Fair Value Measurement

ASC Topic 820, Fair Value Measurement (ASC 820) establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into the following three levels: Level 1 inputs which are quoted market prices in active markets for identical assets or liabilities; Level 2 inputs which are observable market-based inputs or unobservable inputs corroborated by market data for the asset or liability; and Level 3 inputs which are unobservable inputs based on our own assumptions that are not corroborated by market data. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

As of September 30, 2014, the Company did not have any financial assets or liabilities recognized at fair value on a recurring basis.

In accordance with generally accepted accounting principles, from time to time, the Company measures certain assets at fair value on a nonrecurring basis. These assets may include mortgage servicing rights and mortgage notes receivable. The mortgage servicing rights are recorded at fair value upon initial recording and were not re-measured at fair value during the third quarter of 2014 because the Company continues to utilize the amortization method under ASC 860 and the fair value of the mortgage servicing rights exceeds the carrying value at September 30, 2014. The fair value of the mortgage notes receivable was based on prices observable in the market for similar loans and equaled carrying value at September 30, 2014. Therefore, no lower of cost or fair value adjustment was required.

The following table sets forth the Company’s financial assets that were accounted for at fair value on a nonrecurring basis by level within the fair value hierarchy as of September 30, 2014 (in thousands):

September 30, 2014

Fair Value Measurements Using:

Carrying

Quoted Prices in

Significant Other

Significant

Value

Active Markets for

Observable Inputs

Unobservable

Identical Assets

(Level 2)

Inputs

(Level 1)

(Level 3)

Nonrecurring fair value measurements

Mortgage notes receivable

189,847

—

189,847

—

Mortgage servicing rights

17,398

—

22,443

Total nonrecurring fair value measurements

207,245

—

189,847

22,443

The following table sets forth the Company’s financial assets that were accounted for at fair value on a nonrecurring basis by level within the fair value hierarchy as of December 31, 2013 (in thousands):

December 31, 2013

Fair Value Measurements Using:

Carrying

Quoted Prices in

Significant Other

Significant

Value

Active Markets for

Observable Inputs

Unobservable

Identical Assets

(Level 2)

Inputs

(Level 1)

(Level 3)

Nonrecurring fair value measurements

Mortgage notes receivable

93,587

—

93,587

—

Mortgage servicing rights

16,676

—

20,258

Total nonrecurring fair value measurements

110,263

—

93,587

20,258

Mortgage servicing rights do not trade in an active, open market with readily-available observable prices. Since there is no ready market value for the mortgage servicing rights, such as quoted market prices or prices based on sales or purchases of similar assets, the Company determines the fair value of the mortgage servicing rights by estimating the present value of future cash flows associated with the servicing of the loans. Management makes certain assumptions and judgments in estimating the fair value of servicing rights, including the benefits of servicing (contractual servicing fees and interest on escrow and float balances), the cost of servicing, prepayment rates (including risk of default), an inflation rate, the expected life of the cash flows and the discount rate. The significant assumptions utilized to value servicing rights as of September 30, 2014 and December 31, 2013 are as follows:

September 30, 2014

December 31, 2013

Expected life of cash flows

3 years to 10.6 years

3 years to 10 years

Discount rate (1)

15% to 20%

Prepayment rate

0% to 8%

Inflation rate

Cost of service per loan

1,600 to $3,992

1,600 to $4,421

-1

Reflects the time value of money and the risk of future cash flows related to the possible cancellation of servicing contracts, transferability restrictions on certain servicing contracts, concentration in the life company portfolio and large loan risk.

The above assumptions are subject to change based on management’s judgments and estimates of future changes in the risks related to future cash flows and interest rates. Changes in these factors would cause a corresponding increase or decrease in the prepayment rates and discount rates used in the Company’s valuation model.

FASB ASC Topic 825, Financial Instruments also requires disclosure of fair value information about financial instruments, whether or not recognized in the accompanying consolidated balance sheets. Our financial instruments, excluding those included in the preceding fair value tables above, are as follows:

Cash and Cash Equivalents: These balances include cash and cash equivalents with maturities of less than three months. The carrying amount approximates fair value due to the short-term maturities of these instruments; these are considered Level 1 fair values.

Warehouse line of credit: Due to the short-term nature and variable interest rates of this instrument, fair value approximates carrying value; these are considered Level 2 fair values.

Capital_Lease_Obligations

Capital Lease Obligations	9 Months Ended
Capital Lease Obligations	Sep. 30, 2014
Leases [Abstract]	'
Capital Lease Obligations	'

	7. Capital Lease Obligations

	Capital lease obligations consist of the following at September 30, 2014 and December 31, 2013 (dollars in thousands):



		September 30,		December 31,
		2014		2013
	Capital lease obligations	$	707	$	443
	Less current maturities		301		258

		$	406	$	185


	Capital lease obligations consist primarily of office equipment leases that expire at various dates through April 2017. A summary of future minimum lease payments under capital leases at September 30, 2014 is as follows (dollars in thousands):



	Remainder of 2014	$	95
	2015		289
	2016		234
	2017		89
	2018		—

		$	707

Warehouse_Line_of_Credit

Warehouse Line of Credit	9 Months Ended
Warehouse Line of Credit	Sep. 30, 2014
Text Block [Abstract]	'
Warehouse Line of Credit	'

	8. Warehouse Line of Credit

	HFF LP maintains two uncommitted warehouse revolving lines of credit for the purpose of funding the Freddie Mac mortgage loans that it originates in connection with its services as a Freddie Mac Multifamily Program Plus® Seller/Servicer. The Company is party to an uncommitted $350 million financing arrangement with PNC Bank, N.A. (“PNC”) and an uncommitted $125 million financing arrangement with The Huntington Bank (“Huntington”). In May 2013, availability under the Huntington line increased to $125 million from $75 million.

	Each funding is separately approved on a transaction-by-transaction basis and is collateralized by a loan and mortgage on a multifamily property that is ultimately purchased by Freddie Mac. The PNC and Huntington financing arrangements are only for the purpose of supporting the Company’s participation in Freddie Mac’s Program Plus Seller/Servicer program and cannot be used for any other purpose. As of September 30, 2014 and December 31, 2013, HFF LP had $189.8 million and $93.6 million, respectively, outstanding on the warehouse lines of credit and a corresponding amount of mortgage notes receivable. Interest on the warehouse lines of credit is at the 30-day LIBOR rate (0.15% and 0.17% at September 30, 2014 and December 31, 2013, respectively) plus a spread. HFF LP is also paid interest on its loan secured by a multifamily loan at the rate in the Freddie Mac note.

Lease_Commitments

Lease Commitments	9 Months Ended
Lease Commitments	Sep. 30, 2014
Text Block [Abstract]	'
Lease Commitments	'
	9. Lease Commitments
	The Company leases various corporate offices and office equipment under noncancelable operating leases. These leases have initial terms of one to ten years. Several of the leases have termination clauses whereby the term may be reduced by two to seven years upon prior notice and payment of a termination fee by the Company. Total rental expense charged to operations was $1.9 million and $5.6 million, respectively, during the three and nine month periods ended September 30, 2014 and $1.9 million and $5.4 million, respectively, during the three and nine month periods ending September 30, 2013 and is recorded within occupancy expense in the consolidated statements of income.
	Future minimum rental payments for the next five years under operating leases with noncancelable terms in excess of one year and without regard to early termination provisions are as follows (dollars in thousands):


	Remainder of 2014	$	1,591
	2015		6,192
	2016		5,620
	2017		5,157
	2018		4,543
	2019		3,839
	Thereafter		5,650

		$	32,592

	The Company subleases certain office space to subtenants, which subleases may be canceled at any time. The rental income received from these subleases is included as a reduction of occupancy expenses in the accompanying consolidated statements of income.

	The Company also leases certain office equipment under capital leases that expire at various dates through 2017. See Note 4 and Note 7 above for further description of the assets and related obligations recorded under these capital leases at September 30, 2014 and December 31, 2013, respectively.

Servicing

Servicing	9 Months Ended
Servicing	Sep. 30, 2014
Transfers and Servicing [Abstract]	'
Servicing	'

	10. Servicing

	The Company services commercial real estate loans for lenders. The unpaid principal balance of the servicing portfolio totaled $37.1 billion and $33.1 billion at September 30, 2014 and December 31, 2013, respectively.

	In connection with its servicing activities, the Company holds funds in escrow for the benefit of mortgagors for hazard insurance, real estate taxes and other financing arrangements. At September 30, 2014 and December 31, 2013, the funds held in escrow totaled $161.2 million and $211.1 million, respectively. These funds, and the offsetting liabilities of the borrowers to external parties, are not presented in the Company’s consolidated financial statements as they do not represent the assets and liabilities of the Company. Pursuant to the requirements of the various investors for which the Company services loans, the Company maintains bank accounts, holding escrow funds, which have balances in excess of the FDIC insurance limit. The fees earned on these escrow funds are reported in capital markets services revenue in the consolidated statements of income.

Legal_Proceedings

Legal Proceedings	9 Months Ended
Legal Proceedings	Sep. 30, 2014
Text Block [Abstract]	'
Legal Proceedings	'
	11. Legal Proceedings
	The Company is party to various litigation matters, in most cases involving ordinary course and routine claims incidental to its business. The Company cannot estimate with certainty its ultimate legal and financial liability with respect to any pending matters. In accordance with ASC 450, Contingencies, a reserve for estimated losses is recorded when the amount is probable and can be reasonably estimated. However, the Company does not believe, based on examination of such pending matters, that a material loss related to these matters is reasonably possible.

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'

	12. Income Taxes

	Income tax expense includes current and deferred taxes as follows (dollars in thousands):



			Current				Deferred			Total
	Nine Months Ended September 30, 2014:
	Federal		$	8,903			$	11,613		$	20,516
	State			2,016				1,797			3,813

			$	10,919			$	13,410		$	24,329


			Current				Deferred			Total
	Nine Months Ended September 30, 2013:
	Federal		$	9,678			$	7,069		$	16,747
	State			942				575			1,517

			$	10,620			$	7,644		$	18,264




	The reconciliation between the income tax computed by applying the U.S. federal statutory rate and the effective tax rate on net income is as follows for the nine months ended September 30, 2014 and 2013 (dollars in thousands):



			September 30,
			2014							2013
	Income tax expense / (benefit)						Rate						Rate
	Taxes computed at federal rate		$	20,535				35	%	$	16,459			35	%
	State and local taxes, net of federal tax benefit			2,647				4.5	%		2,247			4.8	%
	Effect of deferred tax rate change			776				1.3	%		(822	)		(1.7	)%
	Change in income tax benefit payable to stockholder			(162	)			(0.3	)%		(178	)		(0.4	)%
	Provision to return adjustment			(49	)			(0.1	)%		—			0	%
	Change in state net operating loss			—				0	%		(155	)		(0.3	)%
	Compensation limitation			51				0.1	%		319			0.7	%
	Meals and entertainment			520				0.9	%		397			0.8	%
	Other			11				0	%		(3	)		(0.0	)%

	Income tax expense		$	24,329				41.5	%	$	18,264			38.8	%


	Deferred income tax assets and liabilities consist of the following at September 30, 2014 and December 31, 2013 (dollars in thousands):



			September 30,				December 31,
			2014				2013
	Deferred income tax assets:
	Section 754 election tax basis step-up		$	148,014			$	158,229
	Tenant improvements			2,736				2,522
	Net operating loss carryforward			36				379
	Restricted stock units			3,154				5,271
	Compensation			3,287				3,805
	Intangible asset			479				510
	Tax credits			—				123
	Other			408				348

	Deferred income tax asset			158,114				171,187
	Deferred income tax liabilities:
Goodwill			(1,275	)			(1,277	)
Servicing rights			(6,593	)			(6,332	)
Deferred rent			(1,971	)			(1,892	)
Investment in partnership			(586	)			(587	)

Deferred income tax liability			(10,425	)			(10,088	)

Net deferred income tax asset		$	147,689			$	161,099


The primary deferred tax asset represents a tax basis step-up election under Section 754 of the Internal Revenue Code (“Section 754”) made by the Company relating to the initial purchase of units of the Operating Partnerships in connection with the Reorganization Transactions and a tax basis step-up on subsequent exchanges of Operating Partnership units for shares of the Company’s Class A common stock since the date of the Reorganization Transactions. As a result of the step-up in basis from these transactions, the Company is entitled to annual future tax benefits in the form of amortization for income tax purposes. The annual pre-tax benefit on the Section 754 step-up and past payments under the tax receivable agreement was approximately $32.8 million at September 30, 2014. To the extent that the Company does not have sufficient taxable income in a year to fully utilize this annual deduction, the unused benefit is recharacterized as a net operating loss and can then be carried back two years or carried forward for twenty years. The Company measured the deferred tax asset based on the estimated income tax effects of the increase in the tax basis of the assets owned by the Operating Partnerships utilizing the enacted tax rates at the date of the transaction. All subsequent changes in the measurement of the deferred tax assets due to changes in the enacted tax rates or changes in the valuation allowance, if any, are recorded as a component of income tax expense.

In evaluating the realizability of the deferred tax assets, management makes estimates and judgments regarding the level and timing of future taxable income, including projecting future revenue growth and changes to the cost structure. In order to realize the anticipated 2014 pre-tax benefit of approximately $32.8 million, the Company needs to generate approximately $268 million in revenue during 2014, assuming a constant cost structure. In the event that the Company cannot realize the anticipated 2014 pre-tax benefit of $32.8 million, the shortfall becomes a net operating loss that can be carried back two years to offset prior years’ taxable income or carried forward twenty years to offset future taxable income. Based on this analysis and other quantitative and qualitative factors, management believes that it is currently more likely than not that the Company will be able to generate sufficient taxable income to realize the net deferred tax assets resulting from the basis step up transactions (initial sale of units in the Operating Partnerships and subsequent exchanges of Operating Partnership units since the date of the Reorganization Transactions). The Company has state tax effected net operating loss carryforwards of $36,000 at September 30, 2014. The state net operating loss carryforwards expire from 2020 through 2028.

The Company will recognize interest and penalties related to unrecognized tax benefits in interest and other income, net in the consolidated statements of income. There were no interest or penalties recorded in the three and nine month periods ending September 30, 2014 and 2013.

Tax Receivable Agreement

In connection with the Reorganization Transactions, HFF LP and HFF Securities made an election under Section 754 for 2007 and kept that election in effect for each taxable year in which an exchange of Operating Partnership partnership units for shares of the Company’s Class A common stock occurred. The initial sale as a result of the Offering and subsequent exchanges of Operating Partnership units for shares of Class A common stock produced increases in the tax basis of the assets owned by HFF LP and HFF Securities to their fair market value. This increase in tax basis allows the Company to reduce the amount of tax payments to the extent that the Company has taxable income. As a result of the increase in tax basis, the Company is entitled to future tax benefits of $148.0 million and has recorded this amount as a deferred tax asset on its consolidated balance sheet. The Company has updated its estimate of these future tax benefits based on the changes to the estimated annual effective tax rate for 2014. The Company is obligated, however, pursuant to its tax receivable agreement with HFF Holdings, to pay to HFF Holdings 85% of the amount of cash savings in U.S. federal, state and local income tax that the Company actually realizes as a result of these increases in tax basis and as a result of certain other tax benefits arising from the Company entering into the tax receivable agreement and making payments under that agreement. For purposes of the tax receivable agreement, actual cash savings in income tax is computed by comparing the Company’s actual income tax liability to the amount of such taxes that it would have been required to pay had there been no increase to the tax basis of the assets of HFF LP and HFF Securities as a result of the initial sale and later exchanges had the Company not entered into the tax receivable agreement.

The Company accounts for the income tax effects and corresponding tax receivable agreement effects as a result of the initial purchase and the sale of units of the Operating Partnerships in connection with the Reorganization Transactions and subsequent exchanges of Operating Partnership units for the Company’s Class A shares, by recognizing a deferred tax asset for the estimated income tax effects of the increase in the tax basis of the assets owned by the Operating Partnerships, based on enacted tax rates at the date of the transaction, less any tax valuation allowance the Company believes is required. In accordance with ASC 740, the tax effects of transactions with stockholders that result in changes in the tax basis of a company’s assets and liabilities will be recognized in equity. If transactions with stockholders result in the recognition of deferred tax assets from changes in the Company’s tax basis of assets and liabilities, the valuation allowance initially required upon recognition of these deferred assets will be recorded in equity. Subsequent changes in enacted tax rates or any valuation allowance are recorded as a component of income tax expense.

The Company believes it is more likely than not that it will realize the benefit represented by the deferred tax asset, and, therefore, the Company recorded 85% of this estimated amount of the increase in deferred tax assets as a liability to HFF Holdings under the tax receivable agreement and the remaining 15% of the increase in deferred tax assets directly in additional paid-in capital in stockholders’ equity at the time of each exchange of Operating Partnership partnership units for shares of the Company’s Class A common stock. As of August 31, 2012, all of the Operating Partnership partnership units have been exchanged.

While the actual amount and timing of payments under the tax receivable agreement depend upon a number of factors, including the amount and timing of taxable income generated in the future, changes in future tax rates, the value of individual assets, the portion of the Company’s payments under the tax receivable agreement constituting imputed interest and increases in the tax basis of the Company’s assets resulting in payments to HFF Holdings, the Company has estimated that the future payments that will be made to HFF Holdings will be $134.2 million, and has recorded this obligation to HFF Holdings as a liability on the consolidated balance sheet. To the extent the Company does not realize all of the tax benefits in future years, this liability to HFF Holdings may be reduced.

In conjunction with the filing of the Company’s 2013 federal and state tax returns, the benefit for 2013 relating to the Section 754 basis step-up was finalized resulting in $12.5 million of tax benefits being realized by the Company. As discussed above, the Company is obligated to remit to HFF Holdings 85% of any such cash savings in federal and state tax. As such, during the third quarter of 2014, the Company paid $10.7 million to HFF Holdings under the tax receivable agreement. In conjunction with the filing of the Company’s 2012 federal and state tax returns, the benefit for 2012 relating to the Section 754 basis step-up was finalized resulting in $12.2 million of tax benefits being realized by the Company and as such, during the third quarter of 2013, the Company paid $10.4 million to HFF Holdings under the tax receivable agreement. As of September 30, 2014, the Company has made payments to HFF Holdings pursuant to the terms of the tax receivable agreement in an aggregate amount of approximately $52.6 million and the Company anticipates to make a payment of $10.8 million to HFF Holdings in 2015.

Stockholders_Equity

Stockholders Equity	9 Months Ended
Stockholders Equity	Sep. 30, 2014
Equity [Abstract]	'
Stockholders Equity	'
	13. Stockholders Equity
	The Company is authorized to issue 175,000,000 shares of Class A common stock, par value $0.01 per share. Each share of Class A common stock entitles its holder to one vote on all matters to be voted on by stockholders generally. Holders of Class A common stock vote together as a single class on all matters presented to our stockholders for their vote or approval. The Company had issued 38,124,328 and 37,498,796 shares of Class A common stock as of September 30, 2014 and December 31, 2013, respectively.
	On January 15, 2014, the Company’s board of directors declared a special cash dividend of $1.83 per share of Class A common stock to stockholders of record on January 27, 2014. The aggregate dividend payment was paid on February 6, 2014 and totaled approximately $68.2 million based on the number of shares of Class A common stock then outstanding. Additionally, 42,108 restricted stock units (dividend units) were granted for those unvested and vested but not issued restricted stock units as of the record date of January 27, 2014. These dividend units follow the same vesting terms as the underlying restricted stock units.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'

	14. Earnings Per Share

	The Company’s net income and weighted average shares outstanding for the three and nine month periods ended September 30, 2014 and 2013 consist of the following (dollars in thousands):



		Three months ended				Nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Weighted Average Shares Outstanding:
	Basic		37,826,081		37,378,037		37,735,463		37,334,913
	Diluted		38,096,432		37,816,501		37,906,251		37,680,894

	The calculations of basic and diluted net income per share amounts for the three and nine month periods ended September 30, 2014 and 2013 are described and presented below.

	Basic Net Income per Share

	Numerator — net income for the three and nine month periods ended September 30, 2014 and 2013, respectively.

	Denominator — the weighted average shares of Class A common stock for the three and nine month periods ended September 30, 2014 and 2013, including 149,417 and 129,621 restricted stock units that have vested and whose issuance is no longer contingent as of September 30, 2014 and September 30, 2013, respectively.

	Diluted Net Income per Share

	Numerator — net income for the three and nine month periods ended September 30, 2014 and 2013 as in the basic net income per share calculation described above.

	Denominator — the weighted average shares of Class A common stock for the three and nine month periods ended September 30, 2014 and 2013, including 149,417 and 129,621 restricted stock units that have vested and whose issuance is no longer contingent as of September 30, 2014 and September 30, 2013, respectively, plus the dilutive effect of the unvested restricted stock units and stock options.



		Three months ended				Nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Basic Earnings Per Share of Class A Common Stock
	Numerator:
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Denominator:
	Weighted average number of shares of Class A common stock outstanding		37,826,081		37,378,037		37,735,463		37,334,913
	Basic net income per share of Class A common stock	$	0.48	$	0.36	$	0.91	$	0.77
	Diluted Earnings Per Share of Class A Common Stock
	Numerator:
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Denominator:
	Basic weighted average number of shares of Class A common stock		37,826,081		37,378,037		37,735,463		37,334,913
	Add—dilutive effect of:
	Unvested restricted stock units		245,075		415,513		145,588		325,721
	Stock options		25,276		22,951		25,200		20,260
	Weighted average common shares outstanding — diluted		38,096,432		37,816,501		37,906,251		37,680,894
	Diluted earnings per share of Class A common stock	$	0.47	$	0.35	$	0.91	$	0.76

Related_Party_Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'

	15. Related Party Transactions

	The Company made payments on behalf of two affiliates of $0 and $1,617, respectively, during the three and nine month periods ended September 30, 2014 and $488 and $48,481, respectively, during the three and nine month periods ended September 30, 2013. These payments by the Company are primarily for professional services fees and other miscellaneous operating expenses on behalf of the affiliates. The Company had a net receivable from affiliates of $2,000 and zero at September 30, 2014 and December 31, 2013, respectively.

	As a result of the Company’s initial public offering, the Company entered into a tax receivable agreement with HFF Holdings that provides for the payment by the Company to HFF Holdings of 85% of the amount of the cash savings in U.S. federal, state and local income tax that the Company actually realizes as a result of the increase in tax basis of the assets owned by HFF LP and HFF Securities and as a result of certain other tax benefits arising from entering into the tax receivable agreement and making payments under that agreement. As members of HFF Holdings, each of Mark Gibson, the Company’s chief executive officer, Jody Thornton, the Company’s president and member of the Company’s board of directors and a transaction professional of the Operating Partnerships, John Fowler, a current director emeritus of the Company’s board of directors and a transaction professional of the Operating Partnerships, and H. Scott Galloway, Matthew D. Lawton, Gerard T. Sansosti and Manuel A. de Zarraga, each an Executive Managing Director and a transaction professional of the Operating Partnerships, is entitled to participate in such payments, in each case on a pro rata basis based upon such person’s ownership of interests in each series of tax receivable payments created by the initial public offering or subsequent exchange of Operating Partnership units. During the third quarter of 2014, Messrs. Gibson, Thornton, Fowler, Galloway, Lawton, Sansosti and de Zarraga received payments of $0.9 million, $0.9 million, $0.7 million, $0.4 million, $0.3 million, $0.4 million and $0.3 million in connection with the Company’s payment of $10.7 million to HFF Holdings under the tax receivable agreement. During the third quarter of 2013, Messrs. Gibson, Thornton, Fowler, Galloway, Lawton, Sansosti and de Zarraga received payments of $0.9 million, $0.9 million, $0.7 million, $0.4 million, $0.2 million, $0.4 million and $0.2 million in connection with the Company’s payment of $10.4 million to HFF Holdings under the tax receivable agreement. The Company retains the remaining 15% of cash savings in income tax that it realizes. For purposes of the tax receivable agreement, cash savings in income tax is computed by comparing the Company’s actual income tax liability to the amount of such taxes that it would have been required to pay had there been no increase to the tax basis of the assets of HFF LP and HFF Securities allocable to the Company as a result of the initial sale and later exchanges and had the Company not entered into the tax receivable agreement. The term of the tax receivable agreement commenced upon consummation of the offering and will continue until all such tax benefits have been utilized or have expired. See Note 12 for further information regarding the tax receivable agreement and Note 16 for the amount recorded in relation to this agreement.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'

	16. Commitments and Contingencies

	The Company is obligated, pursuant to its tax receivable agreement with HFF Holdings, to pay to HFF Holdings 85% of the amount of cash savings in U.S. federal, state and local income tax that the Company actually realizes as a result of the increases in tax basis under Section 754 and as a result of certain other tax benefits arising from the Company entering into the tax receivable agreement and making payments under that agreement. The Company has recorded $134.2 million for this obligation to HFF Holdings as a liability on the consolidated balance sheet as of September 30, 2014.

	In recent years, the Company has entered into arrangements with newly-hired producers whereby these producers would be paid additional compensation if certain performance targets are met over a defined period. These payments will be made to the producers only if they enter into an employment agreement at the end of the performance period. Payments under these arrangements, if earned, would be paid in fiscal years 2014 through 2018. Currently, the Company cannot reasonably estimate the amounts that would be payable under all of these arrangements. The Company begins to accrue for these payments when it is deemed probable that payments will be made; therefore, on a quarterly basis, the Company evaluates the probability of each of the producers achieving the performance targets and the probability of each of the producers signing an employment agreement. As of September 30, 2014, $1.1 million has been accrued for these arrangements on the consolidated balance sheet.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Policies)	9 Months Ended
Organization and Basis of Presentation (Policies)	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying consolidated financial statements of the Company as of September 30, 2014 and December 31, 2013 and for the three and nine month periods ended September 30, 2014 and September 30, 2013, include the accounts of HFF LP, HFF Securities, and the Company’s wholly-owned subsidiaries, Holliday GP and HoldCo LLC. All significant intercompany accounts and transactions have been eliminated.
	The purchase of shares of Holliday GP and partnership units in each of the Operating Partnerships are treated as a reorganization under common control for financial reporting purposes. HFF Holdings owned 100% of Holliday GP, HFF LP Acquisition, LLC, a Delaware limited liability company (“Holdings Sub”), and the Operating Partnerships prior to the Reorganization Transactions. The initial purchase of shares of Holliday GP and the initial purchase of units in the Operating Partnerships were accounted for at historical cost, with no change in basis for financial reporting purposes. Accordingly, the net assets of HFF Holdings purchased by the Company are reported in the consolidated financial statements of the Company at HFF Holdings’ historical cost.
	As the sole stockholder of Holliday GP (the sole general partner of the Operating Partnerships), the Company now operates and controls all of the business and affairs of the Operating Partnerships. The Company consolidates the financial results of the Operating Partnerships.
Revenue Recognition	'
Revenue Recognition	In May 2014, the Financial Accounting Standards Board issued changes to revenue recognition with customers. This update provides a five-step analysis of transactions to determine when and how revenue is recognized. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update will be effective for the Company beginning in fiscal year 2017. This update may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this update recognized at the date of initial application. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
Fair Value Measurement	'
Fair Value Measurement	ASC Topic 820, Fair Value Measurement (ASC 820) establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into the following three levels: Level 1 inputs which are quoted market prices in active markets for identical assets or liabilities; Level 2 inputs which are observable market-based inputs or unobservable inputs corroborated by market data for the asset or liability; and Level 3 inputs which are unobservable inputs based on our own assumptions that are not corroborated by market data. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.
Financial Instruments	'
	FASB ASC Topic 825, Financial Instruments also requires disclosure of fair value information about financial instruments, whether or not recognized in the accompanying consolidated balance sheets. Our financial instruments, excluding those included in the preceding fair value tables above, are as follows:
	Cash and Cash Equivalents: These balances include cash and cash equivalents with maturities of less than three months. The carrying amount approximates fair value due to the short-term maturities of these instruments; these are considered Level 1 fair values.
	Warehouse line of credit: Due to the short-term nature and variable interest rates of this instrument, fair value approximates carrying value; these are considered Level 2 fair values.
Contingencies	'
Contingencies	The Company is party to various litigation matters, in most cases involving ordinary course and routine claims incidental to its business. The Company cannot estimate with certainty its ultimate legal and financial liability with respect to any pending matters. In accordance with ASC 450, Contingencies, a reserve for estimated losses is recorded when the amount is probable and can be reasonably estimated. However, the Company does not believe, based on examination of such pending matters, that a material loss related to these matters is reasonably possible.

Property_and_Equipment_Tables

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Summary of Property and Equipment	'
	Property and equipment consist of the following (dollars in thousands):


		September 30,			December 31,
		2014			2013
	Furniture and equipment	$	6,212		$	5,066
	Computer equipment		1,142			970
	Capitalized software costs		703			530
	Leasehold improvements		8,807			7,786

	Subtotal		16,864			14,352
	Less accumulated depreciation and amortization		(8,877	)		(7,766	)

		$	7,987		$	6,586

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets	'
	The Company’s intangible assets are summarized as follows (dollars in thousands):


		September 30, 2014								December 31, 2013
		Gross		Accumulated			Net			Gross			Accumulated			Net
		Carrying		Amortization			Book			Carrying			Amortization			Book
		Amount					Value			Amount						Value
	Amortizable intangible assets:
	Mortgage servicing rights	$	36,973	$	(19,575	)	$	17,398		$	34,100		$	(17,424	)	$	16,676
	Unamortizable intangible assets:
	FINRA license		100		—			100			100			—			100

	Total intangible assets	$	37,073	$	(19,575	)	$	17,498		$	34,200		$	(17,424	)	$	16,776

Summary of Carrying Value of Mortgage Servicing Rights	'

	Changes in the carrying value of mortgage servicing rights for the nine month periods ended September 30, 2014 and 2013, were as follows (dollars in thousands):



	Category	12/31/13		Capitalized			Amortized			Sold /			9/30/14
	Category	12/31/13		Capitalized			Amortized			Transferred			9/30/14
	Freddie Mac	$	3,730	$	2,465		$	(1,265	)	$	(1,831	)	$	3,099
	CMBS		10,978		1,637			(1,962	)		1,412			12,065
	Life company		1,537		1,231			(930	)		—			1,838
	Life company – limited		431		155			(190	)		—			396

	Total	$	16,676	$	5,488		$	(4,347	)	$	(419	)	$	17,398




	Category	12/31/12		Capitalized			Amortized			Sold /			9/30/13
	Category	12/31/12		Capitalized			Amortized			Transferred			9/30/13
	Freddie Mac	$	7,641	$	2,463		$	(1,041	)	$	(5,133	)	$	3,930
	CMBS		7,838		606			(1,463	)		3,948			10,929
	Life company		2,021		748			(1,236	)		—			1,533
	Life company – limited		299		215			(138	)		—			376

	Total	$	17,799	$	4,032		$	(3,878	)	$	(1,185	)	$	16,768

Summary of Estimated Amortization Expense	'
	Estimated amortization expense for the next five years is as follows (dollars in thousands):


	Remainder of 2014	$	1,222
	2015		4,374
	2016		3,537
	2017		2,529
	2018		1,879
	2019		1,399

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Financial Assets Accounted at Fair Value on Nonrecurring Basis

September 30, 2014

Fair Value Measurements Using:

Carrying

Quoted Prices in

Significant Other

Significant

Value

Active Markets for

Observable Inputs

Unobservable

Identical Assets

(Level 2)

Inputs

(Level 1)

(Level 3)

Nonrecurring fair value measurements

Mortgage notes receivable

189,847

—

189,847

—

Mortgage servicing rights

17,398

—

22,443

Total nonrecurring fair value measurements

207,245

—

189,847

22,443

December 31, 2013

Fair Value Measurements Using:

Carrying

Quoted Prices in

Significant Other

Significant

Value

Active Markets for

Observable Inputs

Unobservable

Identical Assets

(Level 2)

Inputs

(Level 1)

(Level 3)

Nonrecurring fair value measurements

Mortgage notes receivable

93,587

—

93,587

—

Mortgage servicing rights

16,676

—

20,258

Total nonrecurring fair value measurements

110,263

—

93,587

20,258

Significant Assumptions Utilized to Value Servicing Rights

The significant assumptions utilized to value servicing rights as of September 30, 2014 and December 31, 2013 are as follows:

September 30, 2014

December 31, 2013

Expected life of cash flows

3 years to 10.6 years

3 years to 10 years

Discount rate (1)

15% to 20%

Prepayment rate

0% to 8%

Inflation rate

Cost of service per loan

1,600 to $3,992

1,600 to $4,421

-1

Capital_Lease_Obligations_Tabl

Capital Lease Obligations (Tables)	9 Months Ended
Capital Lease Obligations (Tables)	Sep. 30, 2014
Leases [Abstract]	'
Summary of Capital Lease Obligations	'

	Capital lease obligations consist of the following at September 30, 2014 and December 31, 2013 (dollars in thousands):



		September 30,		December 31,
		2014		2013
	Capital lease obligations	$	707	$	443
	Less current maturities		301		258

		$	406	$	185

Summary of Future Minimum Lease Payments Under Capital Leases	'
	A summary of future minimum lease payments under capital leases at September 30, 2014 is as follows (dollars in thousands):


	Remainder of 2014	$	95
	2015		289
	2016		234
	2017		89
	2018		—

		$	707

Lease_Commitments_Tables

Lease Commitments (Tables)	9 Months Ended
Lease Commitments (Tables)	Sep. 30, 2014
Text Block [Abstract]	'
Summary of Future Minimum Rental Payments	'
	Future minimum rental payments for the next five years under operating leases with noncancelable terms in excess of one year and without regard to early termination provisions are as follows (dollars in thousands):


	Remainder of 2014	$	1,591
	2015		6,192
	2016		5,620
	2017		5,157
	2018		4,543
	2019		3,839
	Thereafter		5,650

		$	32,592

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Summary of Income Tax Expense Includes Current and Deferred Taxes	'
	Income tax expense includes current and deferred taxes as follows (dollars in thousands):


		Current			Deferred			Total
	Nine Months Ended September 30, 2014:
	Federal	$	8,903		$	11,613		$	20,516
	State		2,016			1,797			3,813

		$	10,919		$	13,410		$	24,329


		Current			Deferred			Total
	Nine Months Ended September 30, 2013:
	Federal	$	9,678		$	7,069		$	16,747
	State		942			575			1,517

		$	10,620		$	7,644		$	18,264

Summary of Reconciliation Between Income Taxes	'
	The reconciliation between the income tax computed by applying the U.S. federal statutory rate and the effective tax rate on net income is as follows for the nine months ended September 30, 2014 and 2013 (dollars in thousands):


		September 30,
		2014						2013
	Income tax expense / (benefit)				Rate						Rate
	Taxes computed at federal rate	$	20,535			35	%	$	16,459			35	%
	State and local taxes, net of federal tax benefit		2,647			4.5	%		2,247			4.8	%
	Effect of deferred tax rate change		776			1.3	%		(822	)		(1.7	)%
	Change in income tax benefit payable to stockholder		(162	)		(0.3	)%		(178	)		(0.4	)%
	Provision to return adjustment		(49	)		(0.1	)%		—			0	%
	Change in state net operating loss		—			0	%		(155	)		(0.3	)%
	Compensation limitation		51			0.1	%		319			0.7	%
	Meals and entertainment		520			0.9	%		397			0.8	%
	Other		11			0	%		(3	)		(0.0	)%

	Income tax expense	$	24,329			41.5	%	$	18,264			38.8	%

Summary of Deferred Income Tax Assets and Liabilities	'
	Deferred income tax assets and liabilities consist of the following at September 30, 2014 and December 31, 2013 (dollars in thousands):


		September 30,			December 31,
		2014			2013
	Deferred income tax assets:
	Section 754 election tax basis step-up	$	148,014		$	158,229
	Tenant improvements		2,736			2,522
	Net operating loss carryforward		36			379
	Restricted stock units		3,154			5,271
	Compensation		3,287			3,805
	Intangible asset		479			510
	Tax credits		—			123
	Other		408			348

	Deferred income tax asset		158,114			171,187
	Deferred income tax liabilities:
	Goodwill		(1,275	)		(1,277	)
	Servicing rights		(6,593	)		(6,332	)
	Deferred rent		(1,971	)		(1,892	)
	Investment in partnership		(586	)		(587	)

	Deferred income tax liability		(10,425	)		(10,088	)

	Net deferred income tax asset	$	147,689		$	161,099

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Summary of Net Income and Weighted Average Shares Outstanding	'
	The Company’s net income and weighted average shares outstanding for the three and nine month periods ended September 30, 2014 and 2013 consist of the following (dollars in thousands):


		Three months ended				Nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Weighted Average Shares Outstanding:
	Basic		37,826,081		37,378,037		37,735,463		37,334,913
	Diluted		38,096,432		37,816,501		37,906,251		37,680,894
Summary of Calculations of Basic and Diluted Net Income per Share	'

		Three months ended				Nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Basic Earnings Per Share of Class A Common Stock
	Numerator:
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Denominator:
	Weighted average number of shares of Class A common stock outstanding		37,826,081		37,378,037		37,735,463		37,334,913
	Basic net income per share of Class A common stock	$	0.48	$	0.36	$	0.91	$	0.77
	Diluted Earnings Per Share of Class A Common Stock
	Numerator:
	Net income	$	18,026	$	13,345	$	34,341	$	28,761
	Denominator:
	Basic weighted average number of shares of Class A common stock		37,826,081		37,378,037		37,735,463		37,334,913
	Add—dilutive effect of:
	Unvested restricted stock units		245,075		415,513		145,588		325,721
	Stock options		25,276		22,951		25,200		20,260
	Weighted average common shares outstanding — diluted		38,096,432		37,816,501		37,906,251		37,680,894
	Diluted earnings per share of Class A common stock	$	0.47	$	0.35	$	0.91	$	0.76

Organization_and_Basis_of_Pres2

Organization and Basis of Presentation - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Feb. 21, 2007	Feb. 05, 2007	Jan. 30, 2007	Nov. 09, 2006	Sep. 30, 2014
	Office	Holliday GP [Member]	HFF LP Acquisition, LLC [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	IPO [Member]	IPO [Member]	IPO [Member]	IPO [Member]	IPO [Member]	IPO [Member]
									Class A Common Stock [Member]	Class A Common Stock [Member]	Common Class B [Member]
											HFF Holding [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Number of offices in the United States	23	'	'	'	'	'	'	'	'	'	'
Common share proposed for public offering	'	'	'	'	'	'	'	'	'	14,300,000	'
Common stock, shares authorized	'	'	'	175,000,000	175,000,000	'	'	'	14,300,000	'	'
Initial public offering price, per share	'	'	'	'	'	'	'	'	$18	'	'
Percentage of shares purchase from Partners	'	'	'	'	'	44.70%	5.80%	38.90%	'	'	'
Number of share option exercised	'	'	'	'	'	'	2,145,000	'	'	'	'
Percentage of shares option exercised	'	'	'	'	'	'	15.00%	'	'	'	'
Per share price, exercised	'	'	'	'	'	'	$18	'	'	'	'
Sale of common stock, Shares	'	'	'	38,124,328	37,498,796	'	'	'	'	'	1
Percentage of shares held by the Company	'	100.00%	100.00%	'	'	'	'	'	'	'	'

Stock_Compensation_Additional_

Stock Compensation - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Stock compensation cost	$1,600,000	$3,200,000	$8,242,000	$6,450,000
Unrecognized compensation cost related to non-vested restricted stock units	20,200,000	'	20,200,000	'
Weighted average contractual term	'	'	'3 years 8 months 12 days	'
Restricted stock units outstanding	895,123	'	895,123	'
Stock compensation expense related to liability awards	0	2,900,000	3,300,000	4,900,000
Options, granted	0	'	'	'
Options, vested	0	'	'	'
Options, exercised	0	'	'	'
Options, forfeited	0	'	'	'
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Restricted stock units, granted	0	'	'	'
Restricted stock units, vested	0	'	'	'
Restricted stock units, forfeited	0	'	'	'
Restricted stock units, vested, aggregate fair value	'	'	$4,300,000	'

Property_and_Equipment_Summary

Property and Equipment - Summary of Property and Equipment (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Property and Plant Equipment Gross	$16,864	$14,352
Less accumulated depreciation and amortization	-8,877	-7,766
Property, plant and equipment, net	7,987	6,586
Furniture and Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and Plant Equipment Gross	6,212	5,066
Computer Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and Plant Equipment Gross	1,142	970
Capitalized Software Costs [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and Plant Equipment Gross	703	530
Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and Plant Equipment Gross	$8,807	$7,786

Property_and_Equipment_Additio

Property and Equipment - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Capital leased office equipment recorded in furniture and equipment	$16,864	$14,352
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	8,877	7,766
Office Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Capital leased office equipment recorded in furniture and equipment	1,400	1,100
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	$700	$700

Intangible_Assets_Summary_of_I

Intangible Assets - Summary of Intangible Assets (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
Total intangible assets Gross Carrying Amount	$37,073	$34,200
Accumulated Amortization	-19,575	-17,424
Total intangible assets Net Book Value	17,498	16,776
Total intangible assets Net Book Value	17,400	16,700
FINRA License [Member]	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	100	100
Accumulated Amortization	0	0
Total intangible assets Net Book Value	100	100
Mortgage Servicing Rights [Member]	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	36,973	34,100
Accumulated Amortization	-19,575	-17,424
Total intangible assets Net Book Value	$17,398	$16,676

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
Intangible Assets - Additional Information (Detail) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Commercial loans serviced by the Company	$37,100,000,000	'	$37,100,000,000	'	$33,100,000,000
Servicing fees and interest earned	4,300,000	4,000,000	12,500,000	11,800,000	'
Mortgage servicing rights	17,400,000	'	17,400,000	'	16,700,000
Loan served for mortgage servicing rights	32,100,000,000	'	32,100,000,000	'	27,000,000,000
Gain on sale of cashiering portion	500,000	1,100,000	1,200,000	4,200,000	'
Amortization expenses	'	'	4,347,000	3,885,000	'
Weighted-average life of mortgage servicing rights	'	'	'5 years 10 months 24 days	'	'
Freddie Mac [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Mortgage servicing rights retained upon sale	1,000,000	600,000	2,500,000	2,500,000	'
Originated loans, net	406,100,000	181,000,000	937,600,000	829,900,000	'
Amortization expenses	1,400,000	1,100,000	4,300,000	3,900,000	'
Freddie Mac [Member] \| Interest And Other Income [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Securitization compensation received	800,000	800,000	1,500,000	4,400,000	'
CMBS [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Mortgage servicing rights acquired without exchange of initial consideration	800,000	700,000	800,000	700,000	'
Initial consideration, net	2,400,000,000	1,500,000,000	2,400,000,000	1,500,000,000	'
Life Company Tranches [Member]	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'
Mortgage servicing rights acquired without exchange of initial consideration	3,000,000	1,600,000	3,000,000	1,600,000	'
Initial consideration, net	$5,900,000,000	$3,600,000,000	$5,900,000,000	$3,600,000,000	'

Intangible_Assets_Summary_of_C

Intangible Assets - Summary of Carrying Value of Mortgage Servicing Rights (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified			Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]	Mortgage Servicing Rights [Member]
					Freddie Mac [Member]	Freddie Mac [Member]	CMBS [Member]	CMBS [Member]	Life Company [Member]	Life Company [Member]	Life Company - Limited [Member]	Life Company - Limited [Member]
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'	'	'	'	'	'	'
Opening Balance	$17,400	$16,700	$16,676	$17,799	$3,730	$7,641	$10,978	$7,838	$1,537	$2,021	$431	$299
Capitalized	'	'	5,488	4,032	2,465	2,463	1,637	606	1,231	748	155	215
Amortized	'	'	-4,347	-3,878	-1,265	-1,041	-1,962	-1,463	-930	-1,236	-190	-138
Sold/Transferred	'	'	-419	-1,185	-1,831	-5,133	1,412	3,948	0	0	0	0
Closing Balance	$17,400	$16,700	$17,398	$16,768	$3,099	$3,930	$12,065	$10,929	$1,838	$1,533	$396	$376

Intangible_Assets_Summary_of_E

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage servicing rights	$17,400	$16,700
Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	17,398	16,676
Total nonrecurring fair value measurements	207,245	110,263
Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	0	0
Total nonrecurring fair value measurements	189,847	93,587
Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	0	0
Mortgage servicing rights	22,443	20,258
Total nonrecurring fair value measurements	$22,443	$20,258

Fair_Value_Measurement_Additio

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage servicing rights	$17,400	$16,700
Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	17,398	16,676
Total nonrecurring fair value measurements	207,245	110,263
Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	0	0
Total nonrecurring fair value measurements	189,847	93,587
Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	0	0
Mortgage servicing rights	22,443	20,258
Total nonrecurring fair value measurements	$22,443	$20,258

Fair_Value_Measurement_Financi

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage servicing rights	$17,400	$16,700
Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	17,398	16,676
Total nonrecurring fair value measurements	207,245	110,263
Significant Other Observable Inputs (Level 2) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	189,847	93,587
Mortgage servicing rights	0	0
Total nonrecurring fair value measurements	189,847	93,587
Significant Unobservable Inputs (Level 3) [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage notes receivable	0	0
Mortgage servicing rights	22,443	20,258
Total nonrecurring fair value measurements	$22,443	$20,258

Fair_Value_Measurement_Signifi

Fair Value Measurement - Significant Assumptions Utilized to Value Servicing Rights (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Minimum [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Expected life of cash flows	'3 years	'3 years
Discount rate	15.00%	15.00%
Prepayment rate	0.00%	0.00%
Cost of service per loan	$1,600	$1,600
Maximum [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Expected life of cash flows	'10 years 7 months 6 days	'10 years
Discount rate	20.00%	20.00%
Prepayment rate	8.00%	8.00%
Inflation rate	2.00%	2.00%
Cost of service per loan	$3,992	$4,421

Capital_Lease_Obligations_Summ

Capital Lease Obligations - Summary of Capital Lease Obligations (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Capital Lease Obligations [Abstract]	'	'
Capital lease obligations	$707	$443
Less current maturities	301	258
Capital lease obligations, non current maturities	$406	$185

Capital_Lease_Obligation_Addit

Capital Lease Obligation - Additional Information (Detail)	9 Months Ended
Capital Lease Obligation - Additional Information (Detail)	Sep. 30, 2014
Leases [Abstract]	'
Lease Expiration Date	30-Apr-17

Capital_Lease_Obligation_Summa

Capital Lease Obligation - Summary of Future Minimum Lease Payments Under Capital Leases (Detail) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]	'
Remainder of 2014	$95
2015	289
2016	234
2017	89
2018	0
Total	$707

Warehouse_Line_of_Credit_Addit

Warehouse Line of Credit - Additional Information (Detail) (USD $)	9 Months Ended				1 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	31-May-13	31-May-13
	Warehouse_Line_of_Credit		PNC Bank, N.A. [Member]	Huntington Bank [Member]	Maximum [Member]	Minimum [Member]
					Huntington Bank [Member]	Huntington Bank [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Number of warehouse line of credit facilities	2	'	'	'	'	'
Uncommitted financing arrangement	'	'	$350	$125	'	'
Net increase in amount	'	'	'	'	125	75
Warehouse line of credit outstanding amount	$189.80	$93.60	'	'	'	'
Line of credit interest rate at the end of the period	0.15%	0.17%	'	'	'	'
LIBOR rate duration period	'30 days	'	'	'	'	'
Line of credit interest rate description	'Interest on the warehouse lines of credit is at the 30-day LIBOR rate (0.15% and 0.17% at September 30, 2014 and December 31, 2013, respectively) plus a spread. HFF LP is also paid interest on its loan secured by a multifamily loan at the rate in the Freddie Mac note.	'	'	'	'	'

Lease_Commitments_Additional_I

Lease Commitments - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating Leased Assets [Line Items]	'	'	'	'
Total rental expense	$1.90	$1.90	$5.60	$5.40
Lease expiration date	'	'	'2017	'
Maximum [Member]	'	'	'	'
Operating Leased Assets [Line Items]	'	'	'	'
Operating lease terms	'	'	'10 years	'
Reduced operating lease terms	'	'	'7 years	'
Minimum [Member]	'	'	'	'
Operating Leased Assets [Line Items]	'	'	'	'
Operating lease terms	'	'	'1 year	'
Reduced operating lease terms	'	'	'2 years	'

Lease_Commitments_Summary_of_F

Lease Commitments - Summary of Future Minimum Rental Payments (Detail) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]	'
Remainder of 2014	$1,591
2015	6,192
2016	5,620
2017	5,157
2018	4,543
2019	3,839
Thereafter	5,650
Total rental payment due, net	$32,592

Servicing_Additional_Informati

Servicing - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Transfers and Servicing [Abstract]	'	'
Unpaid principal balance of servicing portfolio of commercial real estate loan	$37,100,000,000	$33,100,000,000
Funds held in escrow	$161,200,000	$211,100,000

Income_Taxes_Summary_of_Income

Income Taxes - Summary of Income Tax Expense Includes Current and Deferred Taxes (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Current Federal Tax	'	'	$8,903	$9,678
State Current Tax	'	'	2,016	942
Federal and State Current Total	'	'	10,919	10,620
Federal Deferred Tax	'	'	11,613	7,069
State Deferred Tax	'	'	1,797	575
Federal and State Deferred Total	'	'	13,410	7,644
Federal Current and Deferred Total	'	'	20,516	16,747
State Current and Deferred Total	'	'	3,813	1,517
Income tax expense	$12,184	$8,137	$24,329	$18,264

Income_Taxes_Summary_of_Income1

Income Taxes - Summary of Income Tax Expense Allocation (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Taxes computed at federal rate	'	'	$20,535	$16,459
State and local taxes, net of federal tax benefit	'	'	2,647	2,247
Effect of deferred tax rate change	'	'	776	-822
Change in income tax benefit payable to stockholder	'	'	-162	-178
Provision to return adjustment	'	'	-49	'
Change in state net operating loss	'	'	'	-155
Compensation limitation	'	'	51	319
Meals and entertainment	'	'	520	397
Other	'	'	11	-3
Income tax expense	$12,184	$8,137	$24,329	$18,264
Taxes computed at federal rate, Percentage	'	'	35.00%	35.00%
State and local taxes, net of federal tax benefit, Percentage	'	'	4.50%	4.80%
Effect of deferred tax rate change, Percentage	'	'	1.30%	-1.70%
Change in income tax benefit payable to stockholder, Percentage	'	'	-0.30%	-0.40%
Provision to return adjustment, Percentage	'	'	-0.10%	0.00%
Change in state net operating loss, Percentage	'	'	0.00%	-0.30%
Compensation limitation, Percentage	'	'	0.10%	0.70%
Meals and entertainment, Percentage	'	'	0.90%	0.80%
Other, Percentage	'	'	0.00%	0.00%
Income tax expense, Total Percentage	'	'	41.50%	38.80%

Income_Taxes_Summary_of_Deferr

Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Deferred income tax assets:	'	'
Section 754 election tax basis step-up	$148,014	$158,229
Tenant improvements	2,736	2,522
Net operating loss carryforward	36	379
Restricted stock units	3,154	5,271
Compensation	3,287	3,805
Intangible asset	479	510
Tax credits	'	123
Other	408	348
Deferred income tax asset	158,114	171,187
Deferred income tax liabilities:	'	'
Goodwill	-1,275	-1,277
Servicing rights	-6,593	-6,332
Deferred rent	-1,971	-1,892
Investment in partnership	-586	-587
Deferred income tax liability	-10,425	-10,088
Net deferred income tax asset	$147,689	$161,099

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Mar. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

HFF Holding [Member]

Federal [Member]

State and Local Income Tax [Member]

Minimum [Member]

Maximum [Member]

State and Local Income Tax [Member]

Schedule Of Income Taxes [Line Items]

Deferred annual pre-tax benefit

$32,800,000

Operating loss carried back date

'2 years

Operating loss carried forward date

'20 years

Assumed revenue generated in each year

268,000,000

State tax effected net operating loss carry forwards

36,000

Net operating loss carry forwards expiration dates

'2020

'2028

Interest or penalties

Future tax benefits

148,000,000

Amount of cash savings to HFF holdings

85.00%

Increase in deferred tax assets, percentage

85.00%

Increase in deferred tax assets additional paid-in capital in stockholders equity , percentage

15.00%

Company estimated payments made to HFF Holdings

134,200,000

Tax benefit relating to the Section 754 basis step-up

12,184,000

8,137,000

24,329,000

18,264,000

12,500,000

12,200,000

Payable under the tax receivable agreement

10,660,000

10,368,000

10,660,000,000

10,368,000,000

10,660,000

10,368,000

Term of tax receivable agreement in aggregate amount paid

52,600,000

Anticipated amount to be paid under tax receivable agreement to HFF Holdings 2015

$10,800,000

Stockholders_Equity_Additional

Stockholders Equity - Additional Information (Detail) (USD $)	9 Months Ended			0 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Feb. 06, 2014	Feb. 06, 2014	Jan. 15, 2014	Sep. 30, 2014
		Class A Common Stock [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]
				Restricted Stock [Member]	HFF Holding [Member]	HFF Holding [Member]	HFF Holding [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'
Common stock, shares authorized	'	175,000,000	175,000,000	'	'	'	'
Common stock, par value	'	$0.01	$0.01	'	'	'	'
Common stock, shares issued	'	38,124,328	37,498,796	'	'	'	'
Special cash dividend	'	'	'	'	'	$1.83	'
Aggregate dividend paid	$68,166	'	'	'	$68,166	'	'
Dividends payable, declaration date	'	'	'	'	'	'	15-Jan-14
Dividends payable, date of record	'	'	'	'	'	'	27-Jan-14
Dividends payable, payment date	'	'	'	'	'	'	6-Feb-14
Restricted stock granted for unvested and vested	'	'	'	42,108	'	'	'

Earning_Per_Share_Summary_of_N

Earning Per Share - Summary of Net Income and Weighted Average Shares Outstanding (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net income	$18,026	$13,345	$34,341	$28,761
Weighted Average Shares Outstanding:	'	'	'	'
Basic	37,826,081	37,378,037	37,735,463	37,334,913
Diluted	38,096,432	37,816,501	37,906,251	37,680,894

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail) (Restricted Stock [Member])	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Restricted Stock [Member]	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Restricted stock units Included in weighted average shares	149,417	129,621	149,417	129,621

Earnings_Per_Share_Summary_of_

Earnings Per Share - Summary of Calculations of Basic and Diluted Net Income per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Numerator:	'	'	'	'
Net income	$18,026	$13,345	$34,341	$28,761
Denominator:	'	'	'	'
Basic weighted average number of shares of Class A common stock	37,826,081	37,378,037	37,735,463	37,334,913
Add-dilutive effect of:	'	'	'	'
Weighted average common shares outstanding - diluted	38,096,432	37,816,501	37,906,251	37,680,894
Basic net income per share of Class A common stock	$0.48	$0.36	$0.91	$0.77
Diluted earnings per share of Class A common stock	$0.47	$0.35	$0.91	$0.76
Basic Earning Per Share [Member] \| Class A Common Stock [Member]	'	'	'	'
Numerator:	'	'	'	'
Net income	18,026	13,345	34,341	28,761
Denominator:	'	'	'	'
Basic weighted average number of shares of Class A common stock	37,826,081	37,378,037	37,735,463	37,334,913
Add-dilutive effect of:	'	'	'	'
Basic net income per share of Class A common stock	$0.48	$0.36	$0.91	$0.77
Diluted Earnings Per Share [Member] \| Class A Common Stock [Member]	'	'	'	'
Numerator:	'	'	'	'
Net income	$18,026	$13,345	$34,341	$28,761
Denominator:	'	'	'	'
Basic weighted average number of shares of Class A common stock	37,826,081	37,378,037	37,735,463	37,334,913
Add-dilutive effect of:	'	'	'	'
Unvested restricted stock units	245,075	415,513	145,588	325,721
Stock options	25,276	22,951	25,200	20,260
Weighted average common shares outstanding - diluted	38,096,432	37,816,501	37,906,251	37,680,894
Diluted earnings per share of Class A common stock	$0.47	$0.35	$0.91	$0.76

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Mar. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Affiliates

HFF Holding [Member]

Chief Executive Officer [Member]

Gibson [Member]

Thornton [Member]

Fowler [Member]

Galloway [Member]

Lawton [Member]

Sansosti and de Zarraga [Member]

Affiliate 1 [Member]

Affiliate 2 [Member]

Related Party Transaction [Line Items]

Number of affiliates on behalf payment made

Payments on behalf of affiliates

$1,617

$488

$48,481

Net receivable from affiliates

2,000

Percentage of tax receivable agreement

85.00%

Payments under the tax receivable agreement

$10,660,000

$10,368,000

$10,660,000,000

$10,368,000,000

$10,660,000

$10,368,000

$900,000

$700,000

$400,000

$300,000

$200,000

$400,000

$300,000

$200,000

Percentage of retained cash savings in income tax

15.00%

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Summary Of Commitments And Contingent Liabilities [Line Items]	'	'
Liability to HFF Holdings	$10,425,000	10,088,000
Accrued additional compensation to newly hired producers	1,100,000	'
Minimum [Member]	'	'
Summary Of Commitments And Contingent Liabilities [Line Items]	'	'
Payments under compensation arrangement, Period	'2014	'
Maximum [Member]	'	'
Summary Of Commitments And Contingent Liabilities [Line Items]	'	'
Payments under compensation arrangement, Period	'2018	'
HFF Holding [Member]	'	'
Summary Of Commitments And Contingent Liabilities [Line Items]	'	'
Amount of cash savings to HFF holdings	85.00%	85.00%
Liability to HFF Holdings	$134,200,000	'