HFF 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	HF
Entity Registrant Name	HFF, Inc.
Entity Central Index Key	1,380,509
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Class A Shares Outstanding		37,835,667

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 169,328	$ 232,053
Accounts receivable	4,669	1,462
Receivable from affiliate	3	2
Mortgage notes receivable	449,113	185,128
Prepaid taxes	853	729
Prepaid expenses and other current assets	5,457	3,281
Deferred tax asset, net	6,842	5,955
Total current assets, net	636,265	428,610
Property and equipment, net	11,000	10,173
Deferred tax asset, net	131,171	140,095
Goodwill	3,712	3,712
Intangible assets, net	24,517	20,647
Other noncurrent assets	1,582	1,015
Total Assets	808,247	604,252
Current liabilities:
Current portion of long-term debt	429	337
Warehouse line of credit	449,113	185,128
Accrued compensation and related taxes	40,969	51,335
Accounts payable	1,733	2,087
Payable under tax receivable agreement	10,789	10,789
Other current liabilities	18,015	37,031
Total current liabilities	521,048	286,707
Deferred rent credit	7,570	7,304
Payable under the tax receivable agreement, less current portion	122,276	123,367
Long-term debt, less current portion	531	429
Total liabilities	651,425	417,807
Stockholders' equity:
Treasury stock, 515,700 and 447,382 shares at cost, respectively	(11,418)	(9,042)
Additional paid-in-capital	112,990	101,148
Retained earnings	54,867	93,958
Total equity	156,822	186,445
Total liabilities and stockholders' equity	808,247	604,252
Class A Common Stock [Member]
Stockholders' equity:
Class A common stock, par value $0.01 per share, 175,000,000 authorized; 38,351,367 and 38,125,363 shares issued, respectively; 37,835,667 and 37,677,981 shares outstanding, respectively	$ 383	$ 381

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Treasury stock, shares	515,700	447,382
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	38,351,367	38,125,363
Common stock, shares outstanding	37,835,667	37,677,981

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Capital markets services revenue	$ 121,021	$ 93,579	$ 212,278	$ 168,720
Interest on mortgage notes receivable	3,329	708	5,818	1,133
Other	642	500	1,167	965
Total revenues	124,992	94,787	219,263	170,818
Expenses
Cost of services	69,342	53,343	125,721	99,417
Personnel	13,513	11,134	25,031	25,075
Occupancy	2,949	2,332	5,733	4,683
Travel and entertainment	3,672	3,075	7,331	6,071
Supplies, research, and printing	1,674	1,622	3,464	3,020
Insurance	569	511	1,172	1,015
Professional fees	1,492	1,131	2,773	2,338
Depreciation and amortization	2,162	1,883	4,281	3,936
Interest on warehouse line of credit	1,719	365	3,016	614
Other operating	2,199	1,385	3,804	2,825
Total expenses	99,291	76,781	182,326	148,994
Operating income	25,701	18,006	36,937	21,824
Interest and other income, net	9,476	3,241	15,017	6,151
Interest expense	(11)	(9)	(22)	(16)
(Increase) decrease in payable under the tax receivable agreement			1,091	501
Income before income taxes	35,166	21,238	53,023	28,460
Income tax expense	13,992	8,630	22,440	12,145
Net income	$ 21,174	$ 12,608	$ 30,583	$ 16,315
Earnings per share - Basic and Diluted
Income available to HFF, Inc. common stockholders - Basic	$ 0.56	$ 0.33	$ 0.81	$ 0.43
Income available to HFF, Inc. common stockholders - Diluted	$ 0.55	$ 0.33	$ 0.80	$ 0.43

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]Class A Common Stock [Member]	Treasury Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]
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	19,898			19,898
Excess tax benefits from share-based award activities	973			973
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	16,315				16,315
Ending balance at Jun. 30, 2014	138,312	$ 381	$ (9,042)	97,986	48,987
Ending balance, shares at Jun. 30, 2014		37,676,946	447,382
Beginning balance at Dec. 31, 2014	186,445	$ 381	$ (9,042)	101,148	93,958
Beginning balance, shares at Dec. 31, 2014		37,677,981	447,382
Stock compensation and other, net	9,564			9,564
Excess tax benefits from share-based award activities	318			318
Issuance of Class A common stock, net	109	$ 2		107
Issuance of Class A common stock, net, shares		226,004
Repurchase of Class A common stock	(2,376)		$ (2,376)
Repurchase of Class A common stock, shares		(68,318)	68,318
Dividends paid	(67,821)			1,853	(69,674)
Net income	30,583				30,583
Ending balance at Jun. 30, 2015	$ 156,822	$ 383	$ (11,418)	$ 112,990	$ 54,867
Ending balance, shares at Jun. 30, 2015		37,835,667	515,700

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 30,583	$ 16,315
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	4,544	6,664
Excess tax benefits from share-based award activities	(318)	(973)
Deferred taxes	8,037	10,825
(Decrease) increase in payable under the tax receivable agreement	(1,091)	(501)
Depreciation and amortization:
Property and equipment	1,147	951
Intangibles	3,134	2,985
Gain on sale or disposition of assets, net	(7,308)	(2,158)
Mortgage service rights assumed	(1,719)	(2,176)
Proceeds from sale of mortgage servicing rights	2,025	887
Increase (decrease) in cash from changes in:
Accounts receivable	(3,207)	(3,076)
Receivable from affiliates	(1)	(2)
Mortgage notes receivable	(263,985)	(96,856)
Net borrowings on warehouse line of credit	263,985	96,856
Prepaid taxes, prepaid expenses and other current assets	(2,300)	(8,253)
Other noncurrent assets	(567)	106
Accrued compensation and related taxes	(5,346)	(7,770)
Accounts payable	(354)	(550)
Other accrued liabilities	(18,698)	(6,551)
Other long-term liabilities	355	(95)
Net cash provided by operating activities	8,916	6,628
Investing activities
Purchases of property and equipment	(1,679)	(1,053)
Net cash used in investing activities	(1,679)	(1,053)
Financing activities
Payments on long-term debt	(192)	(157)
Proceeds from stock options exercised	109
Excess tax benefits from share-based award activities	318	973
Dividends paid	(67,821)	(68,166)
Treasury stock	(2,376)	(6,282)
Net cash used in financing activities	(69,962)	(73,632)
Net decrease in cash	(62,725)	(68,057)
Cash and cash equivalents, beginning of period	232,053	201,262
Cash and cash equivalents, end of period	$ 169,328	$ 133,205

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [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 22 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. Basis of Presentation The accompanying consolidated financial statements of the Company as of June 30, 2015 and December 31, 2014 and for the three and six month periods ended June 30, 2015 and June 30, 2014, 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 2018. 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 Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
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, 2014. 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 six months ended June 30, 2015 are not necessarily indicative of the results expected for the year ending December 31, 2015. The Company has a firm profit participation plan, office profit participation plans, and effective January 1, 2015, an executive bonus plan (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. Based on an accounting policy election, the expense associated with the estimated 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. Prior to January 1, 2015, the Company’s office and firm profit participation plans allowed for payment to be made in both cash and share-based awards, and the composition of such payment was determined in the first calendar quarter of the subsequent year. A portion of the cash and share-based awards issued under these office and firm profit participation plans are subject to time-based vesting conditions over the subsequent twelve months of the grant date, 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, or 26 months. In addition, prior to January 1, 2015, awards made under the executive bonus plans were historically settled as a cash payment made in the first calendar quarter of the subsequent year, with the entire award recognized as expense in the performance year. Effective January 1, 2015, the Company amended the Plans, which will now provide for an overall increase in the allocation of share-based awards. The cash portion of the awards will not be subject to time-based vesting conditions and will be expensed during the performance year. The share-based portion of the awards is subject to a three year time-based vesting schedule beginning on the first anniversary of the grant (which is made in the first calendar quarter of the subsequent year). As a result, the total expense for the share-based portion of the awards is recorded over the period from the beginning of the performance year through the vesting date, or 50 months. Therefore, under the new design of the Plans, the expense recognized during the performance year will be less than the expense that would have been recognized under the previous Plan design. The Company expects that difference will be recognized as an increase in expense over the subsequent three years, irrespective of the Company’s financial performance in the future periods.

Stock Compensation

Stock Compensation	6 Months Ended
	Jun. 30, 2015
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 six months ended June 30, 2015 was $2.3 million and $4.5 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 six months ended June 30, 2014 was $1.9 million and $6.7 million, respectively. At June 30, 2015, there was approximately $24.4 million of unrecognized compensation cost related to non-vested restricted stock units with a weighted average remaining contractual term of 3.4 years. As of June 30, 2015, there were 1,319,093 restricted stock units outstanding of which 1,153,361 have continued vesting requirements. Stock compensation expense related to the liability awards that have been included within income for the three and six months ended June 30, 2014 was $0.0 million and $3.3 million, respectively. During the three month period ended June 30, 2015, no options were granted, vested, exercised or forfeited. During the three month period ended June 30, 2015, 9,108 new restricted stock units were granted, 12,090 vested of which 2,596 were converted to Class A common stock, and 27,530 restricted stock units were forfeited. The fair value of vested restricted stock units was $6.9 million at June 30, 2015.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consist of the following (dollars in thousands): June 30, 2015 December 31, 2014 Furniture and equipment $ 7,040 $ 8,035 Computer equipment 1,499 1,072 Capitalized software costs 672 497 Leasehold improvements 11,245 9,523 Subtotal 20,456 19,127 Less accumulated depreciation and amortization (9,456 ) (8,954 ) $ 11,000 $ 10,173 At June 30, 2015 and December 31, 2014, the Company has recorded, within furniture and equipment, office equipment under capital leases of $1.5 million and $1.4 million, respectively, including accumulated amortization of $0.6 million and $0.6 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	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The Company’s intangible assets are summarized as follows (dollars in thousands): June 30, 2015 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Amortizable intangible assets: Mortgage servicing rights $ 45,599 $ (21,182 ) $ 24,417 $ 41,041 $ (20,494 ) $ 20,547 Unamortizable intangible assets: FINRA license 100 — 100 100 — 100 Total intangible assets $ 45,699 $ (21,182 ) $ 24,517 $ 41,141 $ (20,494 ) $ 20,647 As of June 30, 2015 and December 31, 2014, the Company serviced $44.7 billion and $39.3 billion, respectively, of commercial loans. The Company earned $4.9 million and $9.4 million in servicing fees and interest on float and escrow balances for the three and six month periods ending June 30, 2015, respectively. The Company earned $4.3 million and $8.3 million in servicing fees and interest on float and escrow balances for the three and six month periods ending June 30, 2014, 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 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 six month periods ended June 30, 2015 and 2014, were as follows (dollars in thousands): Category 12/31/14 Capitalized Amortized Sold / 6/30/15 Freddie Mac $ 5,199 $ 5,910 $ (708 ) $ (3,324 ) $ 7,077 CMBS 13,021 584 (1,604 ) 2,699 14,700 Life company 1,913 1,062 (679 ) — 2,296 Life company – limited 414 73 (143 ) — 344 Total $ 20,547 $ 7,629 $ (3,134 ) $ (625 ) $ 24,417 Category 12/31/13 Capitalized Amortized Sold / 6/30/14 Freddie Mac $ 3,730 $ 1,445 $ (976 ) $ (932 ) $ 3,267 CMBS 10,978 1,271 (1,285 ) 758 11,722 Life company 1,537 817 (598 ) — 1,756 Life company – limited 431 88 (126 ) — 393 Total $ 16,676 $ 3,621 $ (2,985 ) $ (174 ) $ 17,138 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 for the CMBS and life company tranches. The Company recorded mortgage servicing rights retained upon the sale of originated loans to Freddie Mac of $3.4 million and $5.9 million on $1.9 billion and $3.0 billion of loans, respectively, during the three and six month periods ending June 30, 2015, respectively and $0.6 million and $1.4 million on $224.1 million and $531.5 million of loans, respectively, during the three and six month periods ending June 30, 2014, respectively. The Company recorded mortgage servicing rights acquired without the exchange of initial consideration on the CMBS and Life company tranches of $0.9 million and $1.7 million on $2.4 billion and $4.4 billion of loans, respectively, during the three and six month periods ending June 30, 2015, respectively and $1.3 million and $2.2 million on $1.3 billion and $3.5 billion of loans, respectively, during the three and six month periods ending June 30, 2014. During the six months ending June 30, 2015 and 2014, 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 six months ending June 30, 2015 of $1.0 million and $1.4 million, respectively, and $0.4 million and $0.7 million during the three and six month periods ending June 30, 2014, respectively, within interest and other income, net in the consolidated statements of income. The Company also received securitization compensation in relation to the securitization of certain Freddie Mac loans for which the Company services in the three and six months ending June 30, 2015 of $2.5 million and $3.2 million, respectively, and $0.5 million and $0.7 million during the three and six month periods ending June 30, 2014, 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 $1.6 million and $3.1 million during the three and six month periods ended June 30, 2015 and $1.4 million and $3.0 million during the three and six month periods ending June 30, 2014, 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 2015 $ 3,002 2016 5,364 2017 4,227 2018 3,119 2019 2,453 2020 1,999 The weighted-average life of the mortgage servicing rights intangible asset was 6.6 years at June 30, 2015.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	6. Fair Value Measurement ASC Topic 820, Fair Value Measurement As of June 30, 2015, 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 second quarter of 2015 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 June 30, 2015. The fair value of the mortgage notes receivable was based on prices observable in the market for similar loans and equaled carrying value at June 30, 2015. 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 June 30, 2015 (in thousands): June 30, 2015 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage notes receivable $ 449,113 $ — $ 449,113 $ — Mortgage servicing rights 24,417 — — 31,790 Total nonrecurring fair value measurements $ 473,530 $ — $ 449,113 $ 31,790 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, 2014 (in thousands): December 31, 2014 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage notes receivable $ 185,128 $ — $ 185,128 $ — Mortgage servicing rights 20,547 — — 25,972 Total nonrecurring fair value measurements $ 205,675 — $ 185,128 $ 25,972 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 June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 December 31, 2014 Expected life of cash flows 3 years to 10 years 3 years to 11 years Discount rate (1) 14% to 20% 14% to 20% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,600 to $4,081 $1,600 to $4,189 (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 Cash and Cash Equivalents Warehouse line of credit

Capital Lease Obligations

Capital Lease Obligations	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Capital Lease Obligations	7. Capital Lease Obligations Capital lease obligations consist of the following at June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Capital lease obligations $ 960 $ 766 Less current maturities 429 337 $ 531 $ 429 Capital lease obligations consist primarily of office equipment leases that expire at various dates through May 2019. A summary of future minimum lease payments under capital leases at June 30, 2015 is as follows (dollars in thousands): Remainder of 2015 $ 223 2016 405 2017 265 2018 59 2019 8 $ 960

Warehouse Line of Credit

Warehouse Line of Credit	6 Months Ended
	Jun. 30, 2015
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 ® 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 ®

Lease Commitments

Lease Commitments	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Lease Commitments	9. Lease Commitments The Company leases various corporate offices (which leases sometime include parking spaces) and office equipment under noncancelable operating leases. These leases have initial terms of three to eleven 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 $2.4 million and $4.7 million, respectively, during the three and six month periods ended June 30, 2015 and $1.8 million and $3.7 million, respectively, during the three and six month periods ending June 30, 2014 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 2015 $ 3,919 2016 7,429 2017 7,510 2018 6,965 2019 6,239 2020 5,589 Thereafter 6,895 $ 44,546 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 2019. See Note 4 and Note 7 above for further description of the assets and related obligations recorded under these capital leases at June 30, 2015 and December 31, 2014, respectively.

Servicing

Servicing	6 Months Ended
	Jun. 30, 2015
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 $44.7 billion and $39.3 billion at June 30, 2015 and December 31, 2014, 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 June 30, 2015 and December 31, 2014, the funds held in escrow totaled $181.2 million and $240.3 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	6 Months Ended
	Jun. 30, 2015
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,

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
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 Six Months Ended June 30, 2015: Federal $ 11,883 $ 6,080 $ 17,963 State 2,520 1,957 4,477 $ 14,403 $ 8,037 $ 22,440 Current Deferred Total Six Months Ended June 30, 2014: Federal $ 910 $ 9,228 $ 10,138 State 410 1,597 2,007 $ 1,320 $ 10,825 $ 12,145 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 six months ended June 30, 2015 and 2014 (dollars in thousands): June 30, 2015 2014 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 18,558 35.0 % $ 9,961 35.0 % State and local taxes, net of federal tax benefit 2,277 4.3 % 1,327 4.7 % Effect of deferred tax rate change 1,284 2.4 % 590 2.1 % Change in income tax benefit payable to stockholder (136 ) (0.3 )% (53 ) (0.2 )% Provision to return adjustment — 0.0 % (5 ) (0.0 )% Compensation limitation — 0.0 % 26 0.1 % Meals and entertainment 455 0.9 % 294 1.0 % Other 2 0.0 % 5 0.0 % Income tax expense $ 22,440 42.3 % $ 12,145 42.7 % Deferred income tax assets and liabilities consist of the following at June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Deferred income tax assets: Section 754 election tax basis step-up $ 138,141 $ 145,151 Tenant improvements 2,971 2,800 Net operating loss carryforward — 36 Restricted stock units 4,780 3,762 Compensation 4,433 5,054 Intangible asset 450 470 Other 480 398 Deferred income tax asset 151,255 157,671 Deferred income tax liabilities: Goodwill (1,277 ) (1,276 ) Servicing rights (9,317 ) (7,815 ) Deferred rent (2,063 ) (1,944 ) Investment in partnership (586 ) (586 ) Deferred income tax liability (13,243 ) (11,621 ) Net deferred income tax asset $ 138,012 $ 146,050 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 $32.6 million at June 30, 2015. 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 2015 pre-tax benefit of approximately $32.6 million, the Company needs to generate approximately $287 million in revenue during 2015, assuming a constant cost structure. In the event that the Company cannot realize the anticipated 2015 pre-tax benefit of $32.6 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 no federal or state net operating losses at June 30, 2015. The Company has analyzed the need for a reserve for unrecognized tax benefits under ASC 740-10 and has determined that any such tax benefits do not have a material impact on the financial statements. It is not expected that there will be a significant increase or decrease in the amount of unrecognized tax benefits within the next 12 months. With few exceptions, the Company is no longer subject to US federal or state and local tax examination by tax authorities before 2011. 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 six month periods ending June 30, 2015 and 2014. 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 $138.1 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 2015. 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 accounted 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. 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 $133.1 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. As of June 30, 2015, 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	6 Months Ended
	Jun. 30, 2015
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 38,351,367 and 38,125,363 shares of Class A common stock as of June 30, 2015 and December 31, 2014, respectively. On January 20, 2015, our board of directors declared a special cash dividend of $1.80 per share of Class A common stock to stockholders of record on February 2, 2015. The aggregate dividend payment was paid on February 13, 2015 and totaled approximately $67.8 million based on the number of shares of Class A common stock then outstanding. Additionally, 49,383 restricted stock units (dividend units) were granted for those unvested and vested but not issued restricted stock units as of the record date of February 2, 2015. These dividend units follow the same vesting terms as the underlying restricted stock units.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
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 six month periods ended June 30, 2015 and 2014 consist of the following (dollars in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Weighted Average Shares Outstanding: Basic 37,993,887 37,817,666 37,944,922 37,689,260 Diluted 38,461,869 38,023,500 38,315,071 37,810,267 The calculations of basic and diluted net income per share amounts for the three and six month periods ended June 30, 2015 and 2014 are described and presented below. Basic Net Income per Share Numerator Denominator Diluted Net Income per Share Numerator Denominator Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Denominator: Weighted average number of shares of Class A common stock outstanding 37,993,887 37,817,666 37,944,922 36,689,260 Basic net income per share of Class A common stock $ 0.56 $ 0.33 $ 0.81 $ 0.43 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Denominator: Basic weighted average number of shares of Class A common stock 37,993,887 37,817,666 37,944,922 36,689,260 Add—dilutive effect of: Unvested restricted stock units 446,136 180,470 347,799 95,845 Stock options 21,846 25,364 22,350 25,162 Weighted average common shares outstanding — diluted 38,461,869 38,023,500 38,315,071 37,810,267 Diluted earnings per share of Class A common stock $ 0.55 $ 0.33 $ 0.80 $ 0.43

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions The Company made payments on behalf of two affiliates of $513 and $826, respectively, during the three and six month periods ended June 30, 2015 and $552 and $1,617, respectively, during the three and six month periods ended June 30, 2014. 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 $3,000 and $2,000 at June 30, 2015 and December 31, 2014, 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. 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	6 Months Ended
	Jun. 30, 2015
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 $133.1 million and $134.2 million for this obligation to HFF Holdings as a liability on the consolidated balance sheet as of June 30, 2015 and December 31, 2014, respectively. In recent years, the Company has entered into arrangements with newly-hired transaction professionals whereby these transaction professionals would be paid additional compensation if certain performance targets are met over a defined period. These payments will be made to the transaction professionals 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 2016 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 transaction professionals achieving the performance targets and the probability of each of the transaction professionals signing an employment agreement. As of June 30, 2015 and December 31, 2014, $4.7 million and $3.3 million, respectively, have been accrued for these arrangements on the consolidated balance sheet.

Organization and Basis of Pre23

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company as of June 30, 2015 and December 31, 2014 and for the three and six month periods ended June 30, 2015 and June 30, 2014, 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	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 2018. 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	ASC Topic 820, Fair Value Measurement
Financial Instruments	FASB ASC Topic 825, Financial Instruments Cash and Cash Equivalents Warehouse line of credit
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,

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consist of the following (dollars in thousands): June 30, 2015 December 31, 2014 Furniture and equipment $ 7,040 $ 8,035 Computer equipment 1,499 1,072 Capitalized software costs 672 497 Leasehold improvements 11,245 9,523 Subtotal 20,456 19,127 Less accumulated depreciation and amortization (9,456 ) (8,954 ) $ 11,000 $ 10,173

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The Company’s intangible assets are summarized as follows (dollars in thousands): June 30, 2015 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Amortizable intangible assets: Mortgage servicing rights $ 45,599 $ (21,182 ) $ 24,417 $ 41,041 $ (20,494 ) $ 20,547 Unamortizable intangible assets: FINRA license 100 — 100 100 — 100 Total intangible assets $ 45,699 $ (21,182 ) $ 24,517 $ 41,141 $ (20,494 ) $ 20,647
Summary of Carrying and Fair Value of Mortgage Servicing Rights	Changes in the carrying value of mortgage servicing rights for the six month periods ended June 30, 2015 and 2014, were as follows (dollars in thousands): Category 12/31/14 Capitalized Amortized Sold / 6/30/15 Freddie Mac $ 5,199 $ 5,910 $ (708 ) $ (3,324 ) $ 7,077 CMBS 13,021 584 (1,604 ) 2,699 14,700 Life company 1,913 1,062 (679 ) — 2,296 Life company – limited 414 73 (143 ) — 344 Total $ 20,547 $ 7,629 $ (3,134 ) $ (625 ) $ 24,417 Category 12/31/13 Capitalized Amortized Sold / 6/30/14 Freddie Mac $ 3,730 $ 1,445 $ (976 ) $ (932 ) $ 3,267 CMBS 10,978 1,271 (1,285 ) 758 11,722 Life company 1,537 817 (598 ) — 1,756 Life company – limited 431 88 (126 ) — 393 Total $ 16,676 $ 3,621 $ (2,985 ) $ (174 ) $ 17,138
Summary of Estimated Amortization Expense	Estimated amortization expense for the next five years is as follows (dollars in thousands): Remainder of 2015 $ 3,002 2016 5,364 2017 4,227 2018 3,119 2019 2,453 2020 1,999

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets Accounted at Fair Value on Nonrecurring Basis	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 June 30, 2015 (in thousands): June 30, 2015 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage notes receivable $ 449,113 $ — $ 449,113 $ — Mortgage servicing rights 24,417 — — 31,790 Total nonrecurring fair value measurements $ 473,530 $ — $ 449,113 $ 31,790 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, 2014 (in thousands): December 31, 2014 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage notes receivable $ 185,128 $ — $ 185,128 $ — Mortgage servicing rights 20,547 — — 25,972 Total nonrecurring fair value measurements $ 205,675 — $ 185,128 $ 25,972
Significant Assumptions Utilized to Value Servicing Rights	The significant assumptions utilized to value servicing rights as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 December 31, 2014 Expected life of cash flows 3 years to 10 years 3 years to 11 years Discount rate (1) 14% to 20% 14% to 20% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,600 to $4,081 $1,600 to $4,189 (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.

Capital Lease Obligations (Tabl

Capital Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Summary of Capital Lease Obligations	Capital lease obligations consist of the following at June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Capital lease obligations $ 960 $ 766 Less current maturities 429 337 $ 531 $ 429
Summary of Future Minimum Lease Payments Under Capital Leases	A summary of future minimum lease payments under capital leases at June 30, 2015 is as follows (dollars in thousands): Remainder of 2015 $ 223 2016 405 2017 265 2018 59 2019 8 $ 960

Lease Commitments (Tables)

Lease Commitments (Tables)	6 Months Ended
	Jun. 30, 2015
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 2015 $ 3,919 2016 7,429 2017 7,510 2018 6,965 2019 6,239 2020 5,589 Thereafter 6,895 $ 44,546

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
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 Six Months Ended June 30, 2015: Federal $ 11,883 $ 6,080 $ 17,963 State 2,520 1,957 4,477 $ 14,403 $ 8,037 $ 22,440 Current Deferred Total Six Months Ended June 30, 2014: Federal $ 910 $ 9,228 $ 10,138 State 410 1,597 2,007 $ 1,320 $ 10,825 $ 12,145
Summary of Income Tax Expense Allocation	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 six months ended June 30, 2015 and 2014 (dollars in thousands): June 30, 2015 2014 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 18,558 35.0 % $ 9,961 35.0 % State and local taxes, net of federal tax benefit 2,277 4.3 % 1,327 4.7 % Effect of deferred tax rate change 1,284 2.4 % 590 2.1 % Change in income tax benefit payable to stockholder (136 ) (0.3 )% (53 ) (0.2 )% Provision to return adjustment — 0.0 % (5 ) (0.0 )% Compensation limitation — 0.0 % 26 0.1 % Meals and entertainment 455 0.9 % 294 1.0 % Other 2 0.0 % 5 0.0 % Income tax expense $ 22,440 42.3 % $ 12,145 42.7 %
Summary of Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities consist of the following at June 30, 2015 and December 31, 2014 (dollars in thousands): June 30, 2015 December 31, 2014 Deferred income tax assets: Section 754 election tax basis step-up $ 138,141 $ 145,151 Tenant improvements 2,971 2,800 Net operating loss carryforward — 36 Restricted stock units 4,780 3,762 Compensation 4,433 5,054 Intangible asset 450 470 Other 480 398 Deferred income tax asset 151,255 157,671 Deferred income tax liabilities: Goodwill (1,277 ) (1,276 ) Servicing rights (9,317 ) (7,815 ) Deferred rent (2,063 ) (1,944 ) Investment in partnership (586 ) (586 ) Deferred income tax liability (13,243 ) (11,621 ) Net deferred income tax asset $ 138,012 $ 146,050

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
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 six month periods ended June 30, 2015 and 2014 consist of the following (dollars in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Weighted Average Shares Outstanding: Basic 37,993,887 37,817,666 37,944,922 37,689,260 Diluted 38,461,869 38,023,500 38,315,071 37,810,267
Summary of Calculations of Basic and Diluted Net Income per Share	Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Denominator: Weighted average number of shares of Class A common stock outstanding 37,993,887 37,817,666 37,944,922 36,689,260 Basic net income per share of Class A common stock $ 0.56 $ 0.33 $ 0.81 $ 0.43 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 21,174 $ 12,608 $ 30,583 $ 16,315 Denominator: Basic weighted average number of shares of Class A common stock 37,993,887 37,817,666 37,944,922 36,689,260 Add—dilutive effect of: Unvested restricted stock units 446,136 180,470 347,799 95,845 Stock options 21,846 25,364 22,350 25,162 Weighted average common shares outstanding — diluted 38,461,869 38,023,500 38,315,071 37,810,267 Diluted earnings per share of Class A common stock $ 0.55 $ 0.33 $ 0.80 $ 0.43

Organization and Basis of Pre31

Organization and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Officeshares	Dec. 31, 2014shares	Feb. 21, 2007$ / sharesshares	Jan. 30, 2007$ / sharesshares	Nov. 09, 2006shares
Class of Stock [Line Items]
Number of offices in the United States | Office	22
Holliday GP [Member]
Class of Stock [Line Items]
Percentage of shares held by the Company	100.00%
HFF LP Acquisition, LLC [Member]
Class of Stock [Line Items]
Percentage of shares held by the Company	100.00%
IPO [Member]
Class of Stock [Line Items]
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 | $ / shares			$ 18
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	175,000,000	175,000,000
Sale of common stock, shares	38,351,367	38,125,363
Class A Common Stock [Member] | IPO [Member]
Class of Stock [Line Items]
Common share proposed for public offering					14,300,000
Common stock, shares authorized				14,300,000
Initial public offering price, per share | $ / shares				$ 18
Common Class B [Member] | IPO [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Sale of common stock, shares	1

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Vesting period	50 months
Prior to January 1, 2015 [Member]
Summary Of Significant Accounting Policies [Line Items]
Vesting period	26 months

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation cost	$ 2,300	$ 1,900	$ 4,544	$ 6,664
Stock compensation expense related to liability awards		$ 0		$ 3,300
Options, Granted	0
Options, Vested	0
Options, Forfeited	0
Options, Exercised	0
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested restricted stock units	$ 24,400		$ 24,400
Weighted average contractual term			3 years 4 months 24 days
Restricted stock units outstanding	1,319,093		1,319,093
Restricted stock units with continued vesting requirements	1,153,361		1,153,361
Restricted stock units, Granted	9,108
Restricted stock units vested	12,090
Restricted stock units, forfeited	27,530
Fair value of restricted stock units			$ 6,900
Restricted Stock Units [Member] | Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding, Converted to common stock	2,596

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 20,456	$ 19,127
Less accumulated depreciation and amortization	(9,456)	(8,954)
Property, plant and equipment, net	11,000	10,173
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	7,040	8,035
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	1,499	1,072
Capitalized Software Costs [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	672	497
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 11,245	$ 9,523

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Capital leased office equipment recorded in furniture and equipment	$ 20,456	$ 19,127
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	9,456	8,954
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Capital leased office equipment recorded in furniture and equipment	1,500	1,400
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	$ 600	$ 600

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	$ 45,699	$ 41,141
Accumulated Amortization	(21,182)	(20,494)
Total intangible assets Net Book Value	24,400	20,500
Total intangible assets Net Book Value	24,517	20,647
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	45,599	41,041
Accumulated Amortization	(21,182)	(20,494)
Total intangible assets Net Book Value	$ 24,417	$ 20,547

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Commercial loans serviced by the Company	$ 44,700,000		$ 44,700,000		$ 39,300,000
Servicing fees and interest earned	4,900	$ 4,300	9,400	$ 8,300
Mortgage servicing rights	24,400		24,400		20,500
Loan served for mortgage servicing rights	40,400,000		40,400,000		$ 34,500,000
Gain on sale of cashiering portion	1,000	400	1,400	700
Amortization expenses			$ 3,134	2,985
Weighted-average life of mortgage servicing rights			6 years 7 months 6 days
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights retained upon sale	3,400	600	$ 5,900	1,400
Originated loans, net	1,900,000	224,100	3,000,000	531,500
Amortization expenses	1,600	1,400	3,100	3,000
Freddie Mac [Member] | Interest and Other Income, Net [Member]
Finite-Lived Intangible Assets [Line Items]
Securitization compensation received	2,500	500	3,200	700
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	900	1,300	900	1,300
Initial consideration, net	2,400,000	1,300,000	2,400,000	1,300,000
Life Company Tranches [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	1,700	2,200	1,700	2,200
Initial consideration, net	$ 4,400,000	$ 3,500,000	$ 4,400,000	$ 3,500,000

Intangible Assets - Summary o38

Intangible Assets - Summary of Carrying and Fair Value of Mortgage Servicing Rights (Detail) - Mortgage Servicing Rights [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Opening Balance	$ 20,547	$ 16,676
Capitalized	7,629	3,621
Amortized	(3,134)	(2,985)
Sold/Transferred	(625)	(174)
Closing Balance	24,417	17,138
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	5,199	3,730
Capitalized	5,910	1,445
Amortized	(708)	(976)
Sold/Transferred	(3,324)	(932)
Closing Balance	7,077	3,267
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	13,021	10,978
Capitalized	584	1,271
Amortized	(1,604)	(1,285)
Sold/Transferred	2,699	758
Closing Balance	14,700	11,722
Life Company [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	1,913	1,537
Capitalized	1,062	817
Amortized	(679)	(598)
Closing Balance	2,296	1,756
Life Company - Limited [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	414	431
Capitalized	73	88
Amortized	(143)	(126)
Closing Balance	$ 344	$ 393

Intangible Assets - Summary o39

Intangible Assets - Summary of Estimated Amortization Expense (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2015	$ 3,002
2,016	5,364
2,017	4,227
2,018	3,119
2,019	2,453
2,020	$ 1,999

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - Fair Value Recurring [Member]	Jun. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	$ 0
Liabilities at fair value	$ 0

Fair Value Measurement - Financ

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 24,400	$ 20,500
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	449,113	185,128
Mortgage servicing rights	24,417	20,547
Total nonrecurring fair value measurements	473,530	205,675
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	449,113	185,128
Total nonrecurring fair value measurements	449,113	185,128
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	31,790	25,972
Total nonrecurring fair value measurements	$ 31,790	$ 25,972

Fair Value Measurement - Signif

Fair Value Measurement - Significant Assumptions Utilized to Value Servicing Rights (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
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	14.00%	14.00%
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	11 years
Discount rate	20.00%	20.00%
Prepayment rate	8.00%	8.00%
Inflation rate	2.00%	2.00%
Cost of service per loan	$ 4,081	$ 4,189

Capital Lease Obligations - Sum

Capital Lease Obligations - Summary of Capital Lease Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Capital Lease Obligations [Abstract]
Capital lease obligations	$ 960	$ 766
Less current maturities	429	337
Capital lease obligations, non current maturities	$ 531	$ 429

Capital Lease Obligation - Addi

Capital Lease Obligation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Lease Expiration Date	May 31, 2019

Capital Lease Obligation - Summ

Capital Lease Obligation - Summary of Future Minimum Lease Payments Under Capital Leases (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2015	$ 223
2,016	405
2,017	265
2,018	59
2,019	8
Total	$ 960

Warehouse Line of Credit - Addi

Warehouse Line of Credit - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)Warehouse_Line_of_Credit	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Number of warehouse line of credit facilities | Warehouse_Line_of_Credit	2
Warehouse line of credit outstanding amount	$ 449.1	$ 185.1
Line of credit interest rate at the end of the period	0.18%	0.15%
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 (0.18% and 0.15% at June 30, 2015 and December 31, 2014, 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.
PNC Bank, N.A. [Member]
Line of Credit Facility [Line Items]
Uncommitted financing arrangement	$ 450
Line of credit, bulge borrowing capacity	$ 500
Line of credit, bulge borrowing capacity, expiration period	15 days
Net increase in amount	$ 100
Huntington Bank [Member]
Line of Credit Facility [Line Items]
Uncommitted financing arrangement	$ 125

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating Leased Assets [Line Items]
Total rental expense	$ 2.4	$ 1.8	$ 4.7	$ 3.7
Lease expiration date			2,019
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease terms			11 years
Reduced operating lease terms			7 years
Minimum [Member]
Operating Leased Assets [Line Items]
Operating lease terms			3 years
Reduced operating lease terms			2 years

Lease Commitments - Summary of

Lease Commitments - Summary of Future Minimum Rental Payments (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2015	$ 3,919
2,016	7,429
2,017	7,510
2,018	6,965
2,019	6,239
2,020	5,589
Thereafter	6,895
Total rental payment due, net	$ 44,546

Servicing - Additional Informat

Servicing - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Transfers and Servicing [Abstract]
Unpaid principal balance of servicing portfolio of commercial real estate loan	$ 44,700	$ 39,300
Funds held in escrow	$ 181.2	$ 240.3

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense Includes Current and Deferred Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Current Federal Tax			$ 11,883	$ 910
State Current Tax			2,520	410
Federal and State Current Total			14,403	1,320
Federal Deferred Tax			6,080	9,228
State Deferred Tax			1,957	1,597
Federal and State Deferred Total			8,037	10,825
Federal Current and Deferred Total			17,963	10,138
State Current and Deferred Total			4,477	2,007
Income tax expense	$ 13,992	$ 8,630	$ 22,440	$ 12,145

Income Taxes - Summary of Inc51

Income Taxes - Summary of Income Tax Expense Allocation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Taxes computed at federal rate			$ 18,558	$ 9,961
State and local taxes, net of federal tax benefit			2,277	1,327
Effect of deferred tax rate change			1,284	590
Change in income tax benefit payable to stockholder			(136)	(53)
Provision to return adjustment				(5)
Compensation limitation				26
Meals and entertainment			455	294
Other			2	5
Income tax expense	$ 13,992	$ 8,630	$ 22,440	$ 12,145
Taxes computed at federal rate, Percentage			35.00%	35.00%
State and local taxes, net of federal tax benefit, Percentage			4.30%	4.70%
Effect of deferred tax rate change, Percentage			2.40%	2.10%
Change in income tax benefit payable to stockholder, Percentage			(0.30%)	(0.20%)
Provision to return adjustment, Percentage			0.00%	0.00%
Compensation limitation, Percentage			0.00%	0.10%
Meals and entertainment, Percentage			0.90%	1.00%
Other, Percentage			0.00%	0.00%
Income tax expense, Total Percentage			42.30%	42.70%

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Deferred income tax assets:
Section 754 election tax basis step-up	$ 138,141	$ 145,151
Tenant improvements	2,971	2,800
Net operating loss carryforward		36
Restricted stock units	4,780	3,762
Compensation	4,433	5,054
Intangible asset	450	470
Other	480	398
Deferred income tax asset	151,255	157,671
Deferred income tax liabilities:
Goodwill	(1,277)	(1,276)
Servicing rights	(9,317)	(7,815)
Deferred rent	(2,063)	(1,944)
Investment in partnership	(586)	(586)
Deferred income tax liability	(13,243)	(11,621)
Net deferred income tax asset	$ 138,012	$ 146,050

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Income Taxes [Line Items]
Deferred annual pre-tax benefit	$ 32,600,000		$ 32,600,000
Operating loss carried back date			2 years
Operating loss carried forward date			20 years
Assumed revenue generated in each year			$ 287,000,000
Interest or penalties	0	$ 0	0	$ 0
Future tax benefits	138,100,000		$ 138,100,000
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	133,100,000		$ 133,100,000
HFF Holding [Member]
Schedule Of Income Taxes [Line Items]
Amount of cash savings to HFF holdings			85.00%
Term of tax receivable agreement in aggregate amount paid	52,600,000		$ 52,600,000
Anticipated amount to be paid under tax receivable agreement to HFF Holdings 2015	10,800,000		$ 10,800,000
State and Local Income Tax [Member]
Schedule Of Income Taxes [Line Items]
Amount of cash savings to HFF holdings			85.00%
Federal [Member]
Schedule Of Income Taxes [Line Items]
Net operating loss carry forwards	$ 0		$ 0
Amount of cash savings to HFF holdings			85.00%

Stockholders Equity - Additiona

Stockholders Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 13, 2015	Jan. 20, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Class of Stock [Line Items]
Aggregate dividend paid			$ 67,821	$ 68,166
Class A Common Stock [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			38,351,367		38,125,363
Class A Common Stock [Member] | Restricted Stock [Member]
Class of Stock [Line Items]
Restricted stock granted for unvested and vested	49,383
Class A Common Stock [Member] | HFF Holding [Member]
Class of Stock [Line Items]
Special cash dividend		$ 1.80
Dividends payable, date of record		Feb. 2, 2015
Dividends payable, payment date		Feb. 13, 2015
Aggregate dividend paid	$ 67,800
Class A Common Stock [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Voting rights per common stock			1

Earning Per Share - Summary of

Earning Per Share - Summary of Net Income and Weighted Average Shares Outstanding (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 21,174	$ 12,608	$ 30,583	$ 16,315
Weighted Average Shares Outstanding:
Basic	37,993,887	37,817,666	37,944,922	37,689,260
Diluted	38,461,869	38,023,500	38,315,071	37,810,267

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restricted Stock [Member]
Earnings Per Share [Line Items]
Stock units and stock options included in weighted average shares	165,732	149,417	165,732	149,417
Stock Options [Member]
Earnings Per Share [Line Items]
Stock units and stock options included in weighted average shares	0	0	0	0

Earnings Per Share - Summary of

Earnings Per Share - Summary of Calculations of Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Net income	$ 21,174	$ 12,608	$ 30,583	$ 16,315
Denominator:
Basic weighted average number of shares of Class A common stock	37,993,887	37,817,666	37,944,922	37,689,260
Add-dilutive effect of:
Weighted average common shares outstanding - diluted	38,461,869	38,023,500	38,315,071	37,810,267
Basic net income per share of Class A common stock	$ 0.56	$ 0.33	$ 0.81	$ 0.43
Diluted earnings per share of Class A common stock	$ 0.55	$ 0.33	$ 0.80	$ 0.43
Basic Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 21,174	$ 12,608	$ 30,583	$ 16,315
Denominator:
Basic weighted average number of shares of Class A common stock	37,993,887	37,817,666	37,944,922	36,689,260
Add-dilutive effect of:
Basic net income per share of Class A common stock	$ 0.56	$ 0.33	$ 0.81	$ 0.43
Diluted Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 21,174	$ 12,608	$ 30,583	$ 16,315
Denominator:
Basic weighted average number of shares of Class A common stock	37,993,887	37,817,666	37,944,922	36,689,260
Add-dilutive effect of:
Unvested restricted stock units	446,136	180,470	347,799	95,845
Stock options	21,846	25,364	22,350	25,162
Weighted average common shares outstanding - diluted	38,461,869	38,023,500	38,315,071	37,810,267
Diluted earnings per share of Class A common stock	$ 0.55	$ 0.33	$ 0.80	$ 0.43

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Affiliates	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Affiliates	Jun. 30, 2014USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Related Party Transaction [Line Items]
Number of affiliates on behalf payment made | Affiliates	2		2
Net receivable from affiliates	$ 3,000		$ 3,000		$ 3,000	$ 2,000
Percentage of retained cash savings in income tax	15.00%		15.00%
HFF Holding [Member]
Related Party Transaction [Line Items]
Percentage of tax receivable agreement			85.00%
Affiliate 1 [Member]
Related Party Transaction [Line Items]
Payments on behalf of affiliates	$ 513	$ 552
Affiliate 2 [Member]
Related Party Transaction [Line Items]
Payments on behalf of affiliates			$ 826	$ 1,617

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Summary Of Commitments And Contingent Liabilities [Line Items]
Liability to HFF Holdings	$ 13,243	$ 11,621
Accrued additional compensation to newly hired transaction professionals	$ 4,700	3,300
Federal [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Amount of cash savings to HFF holdings	85.00%
State and Local Income Tax [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Amount of cash savings to HFF holdings	85.00%
Minimum [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Payments under compensation arrangement, Period	2,016
Maximum [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Payments under compensation arrangement, Period	2,018
HFF Holding [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Amount of cash savings to HFF holdings	85.00%
Liability to HFF Holdings	$ 133,100	$ 134,200