HFF 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
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		38,082,582

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 176,675	$ 233,904
Accounts receivable	3,392	4,003
Receivable from affiliate		4
Mortgage notes receivable	150,570	318,951
Prepaid taxes	4,559	1,007
Prepaid expenses and other current assets	7,879	8,291
Total current assets	343,075	566,160
Property and equipment, net	12,895	13,592
Deferred tax asset, net	119,278	129,877
Goodwill	3,712	3,712
Intangible assets, net	31,320	27,022
Other noncurrent assets	2,525	2,167
Total Assets	512,805	742,530
Current liabilities:
Current portion of long-term debt	566	500
Warehouse line of credit	149,855	318,618
Accrued compensation and related taxes	36,286	56,478
Accounts payable	782	2,118
Payable under tax receivable agreement	10,796	10,796
Other current liabilities	10,962	18,780
Total current liabilities	209,247	407,290
Deferred rent credit	10,100	9,827
Payable under the tax receivable agreement, less current portion	110,395	110,395
Long-term debt, less current portion	335	514
Total liabilities	330,077	528,026
Stockholders' equity:
Treasury stock, 379,676 and 497,055 shares at cost, respectively	(11,668)	(11,378)
Additional paid-in-capital	126,364	117,216
Retained earnings	67,648	108,283
Total equity	182,728	214,504
Total liabilities and stockholders' equity	512,805	742,530
Class A Common Stock [Member]
Stockholders' equity:
Class A common stock, par value $0.01 per share, 175,000,000 authorized; 38,462,258 and 38,351,367 shares issued, respectively; 38,082,582 and 37,854,312 shares outstanding, respectively	$ 384	$ 383

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Treasury stock, shares	379,676	497,055
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	38,462,258	38,351,367
Common stock, shares outstanding	38,082,582	37,854,312

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Capital markets services revenue	$ 113,868	$ 121,021	$ 227,538	$ 212,278
Interest on mortgage notes receivable	2,912	3,329	6,176	5,818
Other	885	642	1,481	1,167
Total revenues	117,665	124,992	235,195	219,263
Expenses
Cost of services	66,486	69,342	134,988	125,721
Personnel	14,403	13,513	27,982	25,031
Occupancy	3,377	2,949	6,730	5,733
Travel and entertainment	4,036	3,672	8,501	7,331
Supplies, research, and printing	2,095	1,674	3,891	3,464
Insurance	553	569	1,165	1,172
Professional fees	1,449	1,492	2,702	2,773
Depreciation and amortization	2,893	2,162	5,562	4,281
Interest on warehouse line of credit	1,766	1,719	3,677	3,016
Other operating	3,022	2,199	5,671	3,804
Total expenses	100,080	99,291	200,869	182,326
Operating income	17,585	25,701	34,326	36,937
Interest and other income, net	8,739	9,476	15,056	15,017
Interest expense	(11)	(11)	(24)	(22)
(Increase) decrease in payable under the tax receivable agreement				1,091
Income before income taxes	26,313	35,166	49,358	53,023
Income tax expense	10,467	13,992	19,636	22,440
Net income	$ 15,846	$ 21,174	$ 29,722	$ 30,583
Earnings per share - Basic and Diluted
Income available to HFF, Inc. common stockholders - Basic	$ 0.41	$ 0.56	$ 0.78	$ 0.81
Income available to HFF, Inc. common stockholders - Diluted	$ 0.41	$ 0.55	$ 0.77	$ 0.80

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, 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
Incremental tax adjustment 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
Beginning balance at Dec. 31, 2015	214,504	$ 383	$ (11,378)	117,216	108,283
Beginning balance, shares at Dec. 31, 2015		37,854,312	497,055
Stock compensation and other, net	10,398			10,398
Incremental tax adjustment from share-based award activities	(588)			(588)
Issuance of Class A common stock, net		$ 1	$ 2,656	(2,657)
Issuance of Class A common stock, net, shares		339,161	(228,270)
Repurchase of Class A common stock	(2,946)		$ (2,946)
Repurchase of Class A common stock, shares		(110,891)	110,891
Dividends paid	(68,362)			1,995	(70,357)
Net income	29,722				29,722
Ending balance at Jun. 30, 2016	$ 182,728	$ 384	$ (11,668)	$ 126,364	$ 67,648
Ending balance, shares at Jun. 30, 2016		38,082,582	379,676

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities
Net income	$ 29,722	$ 30,583
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	6,036	4,544
Incremental tax adjustment from share-based award activities	588	(318)
Deferred taxes	9,817	8,037
(Decrease) increase in payable under the tax receivable agreement		(1,091)
Depreciation and amortization:
Property and equipment	1,559	1,147
Intangibles	4,003	3,134
Gain on sale or disposition of assets, net	(8,330)	(7,308)
Mortgage service rights assumed	(2,582)	(1,719)
Proceeds from sale of mortgage servicing rights	2,265	2,025
Increase (decrease) in cash from changes in:
Accounts receivable	611	(3,207)
Receivable from affiliates	4	(1)
Mortgage notes receivable	168,763	(263,985)
Net borrowings on warehouse line of credit	(168,763)	263,985
Prepaid taxes, prepaid expenses and other current assets	(3,140)	(2,300)
Other noncurrent assets	(358)	(567)
Accrued compensation and related taxes	(15,830)	(5,346)
Accounts payable	(1,336)	(354)
Other accrued liabilities	(7,624)	(18,698)
Other long-term liabilities	706	355
Net cash provided by operating activities	16,111	8,916
Investing activities
Purchases of property and equipment	(1,166)	(1,679)
Net cash used in investing activities	(1,166)	(1,679)
Financing activities
Payments on long-term debt	(278)	(192)
Proceeds from stock options exercised		109
Incremental tax adjustment from share-based award activities	(588)	318
Dividends paid	(68,362)	(67,821)
Treasury stock	(2,946)	(2,376)
Net cash used in financing activities	(72,174)	(69,962)
Net decrease in cash	(57,229)	(62,725)
Cash and cash equivalents, beginning of period	233,904	232,053
Cash and cash equivalents, end of period	$ 176,675	$ 169,328

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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 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.” 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 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, 2016 and December 31, 2015 and for the three and six month periods ended June 30, 2016 and June 30, 2015, 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. Pending Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued changes to the accounting for equity compensation. This update simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update will be effective for the Company beginning in fiscal year 2017. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In February 2016, the FASB issued new guidance on the accounting for leases. This new guidance will require that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than twelve months, with the result being the recognition of a right of use asset and a lease liability. The new lease accounting requirements are effective for the Company’s 2019 fiscal year with a modified retrospective transition approach required, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In May 2014, the FASB 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, 2016
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, 2015. 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, 2016 are not necessarily indicative of the results expected for the year ending December 31, 2016. The Company has a firm profit participation plan, office profit participation plans, and effective January 1, 2015, an executive bonus plan (the “Plans”) that each allow for incentive payments to be made, based on the achievement of 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 and consistent with ASC 718, Compensation - Stock Compensation 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 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.

Stock Compensation

Stock Compensation	6 Months Ended
	Jun. 30, 2016
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, 2016 was $3.2 million and $6.0 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, 2015 was $2.3 million and $4.5 million, respectively. At June 30, 2016, there was approximately $33.5 million of unrecognized compensation cost related to non-vested restricted stock units with a weighted average remaining contractual term of 3.0 years. As of June 30, 2016, there were 2,069,826 restricted stock units outstanding, of which 1,880,441 have continued vesting requirements. During the three month period ended June 30, 2016, no options were granted, vested, exercised or forfeited. During the three month period ended June 30, 2016, 15,672 new restricted stock units were granted, 13,568 vested of which 2,035 were converted to Class A common stock, and 25,448 restricted stock units were forfeited. The fair value of vested restricted stock units was $5.5 million at June 30, 2016.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consist of the following (dollars in thousands): June 30, 2016 December 31, 2015 Furniture and equipment $ 7,144 $ 7,055 Computer equipment 1,654 1,555 Capitalized software costs 1,080 882 Leasehold improvements 13,446 13,454 Subtotal 23,324 22,946 Less accumulated depreciation and amortization (10,429 ) (9,354 ) $ 12,895 $ 13,592 At June 30, 2016 and December 31, 2015, the Company has recorded, within furniture and equipment, office equipment under capital leases of $1.9 million and $1.7 million, respectively, including accumulated amortization of $1.0 million and $0.8 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, 2016
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, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Amortizable intangible assets: Mortgage servicing rights $ 56,361 $ (25,141 ) $ 31,220 $ 49,771 $ (22,849 ) $ 26,922 Unamortizable intangible assets: FINRA license 100 — 100 100 — 100 Total intangible assets $ 56,461 $ (25,141 ) $ 31,320 $ 49,871 $ (22,849 ) $ 27,022 As of June 30, 2016 and December 31, 2015, the Company serviced $54.7 billion and $48.7 billion, respectively, of commercial loans. The Company earned $5.7 million and $11.2 million in servicing fees and interest on float and escrow balances for the three and six month periods ending June 30, 2016, respectively. 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. 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, 2016 and 2015, were as follows (dollars in thousands): Category 12/31/15 Capitalized Amortized Sold / 6/30/16 Freddie Mac $ 7,074 $ 6,219 $ (935 ) $ (2,450 ) $ 9,908 CMBS 16,768 629 (2,002 ) 1,948 17,343 Life company 2,729 1,689 (924 ) — 3,494 Life company – limited 351 266 (142 ) — 475 Total $ 26,922 $ 8,803 $ (4,003 ) $ (502 ) $ 31,220 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 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 $3.8 million and $6.2 million on $1.4 billion and $2.3 billion of loans, respectively, during the three and six month periods ending June 30, 2016, respectively and $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. The Company recorded mortgage servicing rights acquired without the exchange of initial consideration on the CMBS and Life company tranches of $1.2 million and $2.6 million on $3.3 billion and $6.6 billion of loans, respectively, during the three and six month periods ending June 30, 2016, respectively and $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. During the six months ending June 30, 2016 and 2015, 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 that the Company recorded a gain in the three and six months ending June 30, 2016 of $1.2 million and $1.8 million, respectively, and $1.0 million and $1.4 million during the three and six month periods ending June 30, 2015, 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 that the Company services in the three and six months ending June 30, 2016 of $1.7 million and $2.9 million, respectively, and $2.5 million and $3.2 million during the three and six month periods ending June 30, 2015, 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 $2.1 million and $4.0 million during the three and six month periods ended June 30, 2016 and $1.6 million and $3.1 million during the three and six month periods ending June 30, 2015, 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 2016 $ 4,029 2017 7,033 2018 5,583 2019 3,855 2020 3,138 2021 2,669 The weighted-average life of the mortgage servicing rights intangible asset was 6.3 years at June 30, 2016.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	6. Fair Value Measurement ASC Topic 820, Fair Value Measurement In the normal course of business, the Company enters into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into a sale commitment with Freddie Mac simultaneously with the rate lock commitment with the borrower. The terms of the contract with Freddie Mac and the rate lock with the borrower are matched in substantially all respects to eliminate interest rate risk. Both the rate lock commitments to borrowers and the forward sale contracts to Freddie Mac are undesignated derivatives and, accordingly, are marked to fair value through earnings. The impact on our financial position and earnings resulting from loan commitments is not significant. The Company elected the fair value option for all mortgage notes receivable originated after January 1, 2016 to eliminate the impact of the variability in interest rate movements on the value of the mortgage notes receivable. The following table sets forth the Company’s financial assets that were accounted for at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2016 (in thousands): Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring fair value measurements Mortgage notes receivable $ 150,570 $ — $ 150,570 $ — Total recurring fair value measurements $ 150,570 — $ 150,570 $ — The valuation of mortgage notes receivable is calculated based on already locked in interest rates. These assets are classified as Level 2 in the fair value hierarchy as all inputs are reasonably observable. There are no financial assets accounted for at fair value on a recurring basis at December 31, 2015. In accordance with GAAP, from time to time, the Company measures certain assets at fair value on a nonrecurring basis. These assets may include mortgage servicing rights and prior to January 1, 2016, 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 2016 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, 2016. 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, 2016 and December 31, 2015 (in thousands): June 30, 2016 Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage servicing rights $ 31,220 $ — $ — $ 41,450 Total nonrecurring fair value measurements $ 31,220 $ — $ — $ 41,450 December 31, 2015 Nonrecurring fair value measurements Mortgage notes receivable $ 318,951 $ — $ 318,951 $ — Mortgage servicing rights 26,922 — — 35,832 Total nonrecurring fair value measurements $ 345,873 — $ 318,951 $ 35,832 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, 2016 and December 31, 2015 are as follows: June 30, 2016 December 31, 2015 Expected life of cash flows 3 years to 10 years 3 years to 10 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 $3,989 $1,600 to $4,033 (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, 2016
Leases [Abstract]
Capital Lease Obligations	7. Capital Lease Obligations Capital lease obligations consist of the following at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Capital lease obligations $ 901 $ 1,014 Less current maturities 566 500 $ 335 $ 514 Capital lease obligations consist primarily of office equipment leases that expire at various dates through June 2019. A summary of future minimum lease payments under capital leases at June 30, 2016 is as follows (dollars in thousands): Remainder of 2016 $ 271 2017 425 2018 190 2019 15 $ 901

Warehouse Line of Credit

Warehouse Line of Credit	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [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, 2016
Commitments and Contingencies Disclosure [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 $2.8 million and $5.6 million, respectively, during the three and six month periods ended June 30, 2016 and $2.4 million and $4.7 million, respectively, during the three and six month periods ending June 30, 2015 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 2016 $ 4,517 2017 10,210 2018 9,870 2019 8,864 2020 8,026 2021 6,650 Thereafter 12,268 $ 60,405 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, 2016 and December 31, 2015, respectively.

Servicing

Servicing	6 Months Ended
	Jun. 30, 2016
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 $54.7 billion and $48.7 billion at June 30, 2016 and December 31, 2015, 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, 2016 and December 31, 2015, the funds held in escrow totaled $166.4 million and $177.5 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, 2016
Commitments and Contingencies Disclosure [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, 2016
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, 2016: Federal $ 8,399 $ 8,991 $ 17,390 State 1,420 826 2,246 $ 9,819 $ 9,817 $ 19,636 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 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, 2016 and 2015 (dollars in thousands): June 30, 2016 2015 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 17,275 35.0 % $ 18,558 35.0 % State and local taxes, net of federal tax benefit 1,890 3.8 % 2,277 4.3 % Effect of deferred tax rate change — 0.0 % 1,284 2.4 % Change in income tax benefit payable to stockholder — 0.0 % (136 ) (0.3 )% Meals and entertainment 464 0.9 % 455 0.9 % Other 7 0.0 % 2 0.0 % Income tax expense $ 19,636 39.8 % $ 22,440 42.3 % Deferred income tax assets and liabilities consist of the following at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Deferred income tax assets: Section 754 election tax basis step-up $ 124,007 $ 129,862 Tenant improvements 3,327 3,118 Restricted stock units 6,175 6,229 Compensation 593 4,267 Intangible asset 406 425 Other 604 465 Deferred income tax asset 135,112 144,366 Deferred income tax liabilities: Goodwill (1,263 ) (1,262 ) Servicing rights (12,275 ) (10,827 ) Deferred rent (1,718 ) (1,822 ) Investment in partnership (578 ) (578 ) Deferred income tax liability (15,834 ) (14,489 ) Net deferred income tax asset $ 119,278 $ 129,877 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 $124.0 million at June 30, 2016. 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 2016 pre-tax benefit of approximately $34.6 million, the Company needs to generate approximately $305 million in revenue during 2016, assuming a constant cost structure. In the event that the Company cannot realize the anticipated 2016 pre-tax benefit of $34.6 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, 2016. 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, 2016 and 2015. 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 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 $124.0 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 2016. 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 $121.2 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 2014 federal and state tax returns, the benefit for 2014 relating to the Section 754 basis step-up was finalized, resulting in $12.6 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 2015, the Company paid $10.8 million to HFF Holdings under the tax receivable agreement. As of June 30, 2016, the Company has made payments to HFF Holdings pursuant to the terms of the tax receivable agreement in an aggregate amount of approximately $63.4 million and the Company anticipates making a payment of $10.8 million to HFF Holdings in 2016.

Stockholders Equity

Stockholders Equity	6 Months Ended
	Jun. 30, 2016
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 38,462,258 and 38,351,367 shares of Class A common stock as of June 30, 2016 and December 31, 2015, respectively. On January 22, 2016, 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 8, 2016. The aggregate dividend payment was paid on February 19, 2016 and totaled approximately $68.4 million based on the number of shares of Class A common stock then outstanding. Additionally, 82,536 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 8, 2016. 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, 2016
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, 2016 and 2015 consist of the following (dollars in thousands): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Weighted Average Shares Outstanding: Basic 38,263,657 37,993,887 38,215,246 37,944,922 Diluted 38,961,753 38,461,869 38,667,842 38,315,071 The calculations of basic and diluted net income per share amounts for the three and six month periods ended June 30, 2016 and 2015 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, 2016 2015 2016 2015 Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Denominator: Weighted average number of shares of Class A common stock outstanding 38,263,657 37,993,887 38,215,246 37,944,922 Basic net income per share of Class A common stock $ 0.41 $ 0.56 $ 0.78 $ 0.81 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Denominator: Basic weighted average number of shares of Class A common stock 38,263,657 37,993,887 38,215,246 37,944,922 Add—dilutive effect of: Unvested restricted stock units 686,086 446,136 440,747 347,799 Stock options 12,010 21,846 11,849 22,350 Weighted average common shares outstanding — diluted 38,961,753 38,461,869 38,667,842 38,315,071 Diluted earnings per share of Class A common stock $ 0.41 $ 0.55 $ 0.77 $ 0.80

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions 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, Matthew D. Lawton, Gerard T. Sansosti, Michael J. Tepedino 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 initial public 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, 2016
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 $121.2 million and $121.2 million for this obligation to HFF Holdings as a liability on the consolidated balance sheet as of June 30, 2016 and December 31, 2015, 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 2019. 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. There was no accrual required for these arrangements as of June 30, 2016. At December 31, 2015, $5.8 million was accrued for these arrangements on the consolidated balance sheet and was paid in the first quarter of 2016.

Organization and Basis of Pre23

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company as of June 30, 2016 and December 31, 2015 and for the three and six month periods ended June 30, 2016 and June 30, 2015, 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.
Equity Compensation	In March 2016, the Financial Accounting Standards Board (“FASB”) issued changes to the accounting for equity compensation. This update simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update will be effective for the Company beginning in fiscal year 2017. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
Leases	In February 2016, the FASB issued new guidance on the accounting for leases. This new guidance will require that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than twelve months, with the result being the recognition of a right of use asset and a lease liability. The new lease accounting requirements are effective for the Company’s 2019 fiscal year with a modified retrospective transition approach required, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
Revenue Recognition	In May 2014, the FASB 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, 2016
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consist of the following (dollars in thousands): June 30, 2016 December 31, 2015 Furniture and equipment $ 7,144 $ 7,055 Computer equipment 1,654 1,555 Capitalized software costs 1,080 882 Leasehold improvements 13,446 13,454 Subtotal 23,324 22,946 Less accumulated depreciation and amortization (10,429 ) (9,354 ) $ 12,895 $ 13,592

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The Company’s intangible assets are summarized as follows (dollars in thousands): June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Amortizable intangible assets: Mortgage servicing rights $ 56,361 $ (25,141 ) $ 31,220 $ 49,771 $ (22,849 ) $ 26,922 Unamortizable intangible assets: FINRA license 100 — 100 100 — 100 Total intangible assets $ 56,461 $ (25,141 ) $ 31,320 $ 49,871 $ (22,849 ) $ 27,022
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, 2016 and 2015, were as follows (dollars in thousands): Category 12/31/15 Capitalized Amortized Sold / 6/30/16 Freddie Mac $ 7,074 $ 6,219 $ (935 ) $ (2,450 ) $ 9,908 CMBS 16,768 629 (2,002 ) 1,948 17,343 Life company 2,729 1,689 (924 ) — 3,494 Life company – limited 351 266 (142 ) — 475 Total $ 26,922 $ 8,803 $ (4,003 ) $ (502 ) $ 31,220 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
Summary of Estimated Amortization Expense	Estimated amortization expense for the next five years is as follows (dollars in thousands): Remainder of 2016 $ 4,029 2017 7,033 2018 5,583 2019 3,855 2020 3,138 2021 2,669

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Financial Assets Accounted at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets that were accounted for at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2016 (in thousands): Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring fair value measurements Mortgage notes receivable $ 150,570 $ — $ 150,570 $ — Total recurring fair value measurements $ 150,570 — $ 150,570 $ —
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, 2016 and December 31, 2015 (in thousands): June 30, 2016 Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage servicing rights $ 31,220 $ — $ — $ 41,450 Total nonrecurring fair value measurements $ 31,220 $ — $ — $ 41,450 December 31, 2015 Nonrecurring fair value measurements Mortgage notes receivable $ 318,951 $ — $ 318,951 $ — Mortgage servicing rights 26,922 — — 35,832 Total nonrecurring fair value measurements $ 345,873 — $ 318,951 $ 35,832
Significant Assumptions Utilized to Value Servicing Rights	The significant assumptions utilized to value servicing rights as of June 30, 2016 and December 31, 2015 are as follows: June 30, 2016 December 31, 2015 Expected life of cash flows 3 years to 10 years 3 years to 10 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 $3,989 $1,600 to $4,033 (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, 2016
Leases [Abstract]
Summary of Capital Lease Obligations	Capital lease obligations consist of the following at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Capital lease obligations $ 901 $ 1,014 Less current maturities 566 500 $ 335 $ 514
Summary of Future Minimum Lease Payments Under Capital Leases	Capital lease obligations consist primarily of office equipment leases that expire at various dates through June 2019. A summary of future minimum lease payments under capital leases at June 30, 2016 is as follows (dollars in thousands): Remainder of 2016 $ 271 2017 425 2018 190 2019 15 $ 901

Lease Commitments (Tables)

Lease Commitments (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [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 2016 $ 4,517 2017 10,210 2018 9,870 2019 8,864 2020 8,026 2021 6,650 Thereafter 12,268 $ 60,405

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016: Federal $ 8,399 $ 8,991 $ 17,390 State 1,420 826 2,246 $ 9,819 $ 9,817 $ 19,636 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
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, 2016 and 2015 (dollars in thousands): June 30, 2016 2015 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 17,275 35.0 % $ 18,558 35.0 % State and local taxes, net of federal tax benefit 1,890 3.8 % 2,277 4.3 % Effect of deferred tax rate change — 0.0 % 1,284 2.4 % Change in income tax benefit payable to stockholder — 0.0 % (136 ) (0.3 )% Meals and entertainment 464 0.9 % 455 0.9 % Other 7 0.0 % 2 0.0 % Income tax expense $ 19,636 39.8 % $ 22,440 42.3 %
Summary of Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities consist of the following at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Deferred income tax assets: Section 754 election tax basis step-up $ 124,007 $ 129,862 Tenant improvements 3,327 3,118 Restricted stock units 6,175 6,229 Compensation 593 4,267 Intangible asset 406 425 Other 604 465 Deferred income tax asset 135,112 144,366 Deferred income tax liabilities: Goodwill (1,263 ) (1,262 ) Servicing rights (12,275 ) (10,827 ) Deferred rent (1,718 ) (1,822 ) Investment in partnership (578 ) (578 ) Deferred income tax liability (15,834 ) (14,489 ) Net deferred income tax asset $ 119,278 $ 129,877

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016 and 2015 consist of the following (dollars in thousands): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Weighted Average Shares Outstanding: Basic 38,263,657 37,993,887 38,215,246 37,944,922 Diluted 38,961,753 38,461,869 38,667,842 38,315,071
Summary of Calculations of Basic and Diluted Net Income per Share	Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Denominator: Weighted average number of shares of Class A common stock outstanding 38,263,657 37,993,887 38,215,246 37,944,922 Basic net income per share of Class A common stock $ 0.41 $ 0.56 $ 0.78 $ 0.81 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 15,846 $ 21,174 $ 29,722 $ 30,583 Denominator: Basic weighted average number of shares of Class A common stock 38,263,657 37,993,887 38,215,246 37,944,922 Add—dilutive effect of: Unvested restricted stock units 686,086 446,136 440,747 347,799 Stock options 12,010 21,846 11,849 22,350 Weighted average common shares outstanding — diluted 38,961,753 38,461,869 38,667,842 38,315,071 Diluted earnings per share of Class A common stock $ 0.41 $ 0.55 $ 0.77 $ 0.80

Organization and Basis of Pre31

Organization and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Officeshares	Dec. 31, 2015shares	Jan. 30, 2007$ / sharesshares	Nov. 09, 2006shares
Class of Stock [Line Items]
Number of offices in the United States | Office	23
IPO [Member]
Class of Stock [Line Items]
Percentage of shares purchase from Partners	44.70%
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	38,462,258	38,351,367
Class A Common Stock [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Sale of common stock, shares	38,462,258	38,351,367
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, 2016
Summary Of Significant Accounting Policies [Line Items]
Vesting period	26 months
Amended Office and Firm Profit Participation Plans [Member]
Summary Of Significant Accounting Policies [Line Items]
Vesting period	50 months

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation cost	$ 3,200	$ 2,300	$ 6,036	$ 4,544
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	$ 33,500		$ 33,500
Weighted average contractual term			3 years
Restricted stock units outstanding	2,069,826		2,069,826
Number of stock units with continued vesting requirements	1,880,441		1,880,441
Restricted stock units, Granted	15,672
Restricted stock units, forfeited	25,448
Restricted stock units vested	13,568
Fair value of restricted stock units			$ 5,500
Restricted Stock Units [Member] | Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, Granted	2,035
Restricted stock units outstanding, Converted to common stock	2,035

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 23,324	$ 22,946
Less accumulated depreciation and amortization	(10,429)	(9,354)
Property, plant and equipment, net	12,895	13,592
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	7,144	7,055
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	1,654	1,555
Capitalized Software Costs [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	1,080	882
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 13,446	$ 13,454

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Capital leased office equipment recorded in furniture and equipment	$ 23,324	$ 22,946
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	10,429	9,354
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Capital leased office equipment recorded in furniture and equipment	1,900	1,700
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	$ 1,000	$ 800

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	$ 56,461	$ 49,871
Accumulated Amortization	(25,141)	(22,849)
Total intangible assets Net Book Value	31,200	26,900
Total intangible assets Net Book Value	31,320	27,022
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	56,361	49,771
Accumulated Amortization	(25,141)	(22,849)
Total intangible assets Net Book Value	$ 31,220	$ 26,922

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Commercial loans serviced by the Company	$ 54,700,000		$ 54,700,000		$ 48,700,000
Servicing fees and interest earned	5,700	$ 4,900	11,200	$ 9,400
Mortgage servicing rights	31,200		31,200		26,900
Loan served for mortgage servicing rights	52,500,000		52,500,000		$ 45,200,000
Gain on sale of cashiering portion	1,200	1,000	1,800	1,400
Amortization expenses			$ 4,003	3,134
Weighted-average life of mortgage servicing rights			6 years 3 months 18 days
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights retained upon sale	3,800	3,400	$ 6,200	5,900
Originated loans, net	1,400,000	1,900,000	2,300,000	3,000,000
Amortization expenses	2,100	1,600	4,000	3,100
Freddie Mac [Member] | Interest and Other Income, Net [Member]
Finite-Lived Intangible Assets [Line Items]
Securitization compensation received	1,700	2,500	2,900	3,200
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	1,200	900	1,200	900
Initial consideration, net	3,300,000	2,400,000	3,300,000	2,400,000
Life Company Tranches [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	2,600	1,700	2,600	1,700
Initial consideration, net	$ 6,600,000	$ 4,400,000	$ 6,600,000	$ 4,400,000

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, 2016	Jun. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Opening Balance	$ 26,922	$ 20,547
Capitalized	8,803	7,629
Amortized	(4,003)	(3,134)
Sold/Transferred	(502)	(625)
Closing Balance	31,220	24,417
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	7,074	5,199
Capitalized	6,219	5,910
Amortized	(935)	(708)
Sold/Transferred	(2,450)	(3,324)
Closing Balance	9,908	7,077
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	16,768	13,021
Capitalized	629	584
Amortized	(2,002)	(1,604)
Sold/Transferred	1,948	2,699
Closing Balance	17,343	14,700
Life Company [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	2,729	1,913
Capitalized	1,689	1,062
Amortized	(924)	(679)
Closing Balance	3,494	2,296
Life Company - Limited [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	351	414
Capitalized	266	73
Amortized	(142)	(143)
Closing Balance	$ 475	$ 344

Intangible Assets - Summary o39

Intangible Assets - Summary of Estimated Amortization Expense (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2016	$ 4,029
2,017	7,033
2,018	5,583
2,019	3,855
2,020	3,138
2,021	$ 2,669

Fair Value Measurement - Financ

Fair Value Measurement - Financial Assets Accounted at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	$ 150,570	$ 318,951
Total recurring fair value measurements	150,570
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	150,570	$ 318,951
Total recurring fair value measurements	$ 150,570

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail)	Dec. 31, 2015USD ($)
Fair Value Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	$ 0

Fair Value Measurement - Fina42

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 31,200	$ 26,900
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	150,570	318,951
Mortgage servicing rights	31,220	26,922
Total nonrecurring fair value measurements	31,220	345,873
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	150,570	318,951
Total nonrecurring fair value measurements		318,951
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	41,450	35,832
Total nonrecurring fair value measurements	$ 41,450	$ 35,832

Fair Value Measurement - Signif

Fair Value Measurement - Significant Assumptions Utilized to Value Servicing Rights (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
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	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	$ 3,989	$ 4,033

Capital Lease Obligations - Sum

Capital Lease Obligations - Summary of Capital Lease Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Capital Lease Obligations [Abstract]
Capital lease obligations	$ 901	$ 1,014
Less current maturities	566	500
Capital lease obligations, non current maturities	$ 335	$ 514

Capital Lease Obligation - Addi

Capital Lease Obligation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Lease Expiration Date	Jun. 30, 2019

Capital Lease Obligation - Summ

Capital Lease Obligation - Summary of Future Minimum Lease Payments Under Capital Leases (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2016	$ 271
2,017	425
2,018	190
2,019	15
Total	$ 901

Warehouse Line of Credit - Addi

Warehouse Line of Credit - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)Warehouse_Line_of_Credit	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Number of warehouse line of credit facilities | Warehouse_Line_of_Credit	2
Warehouse line of credit outstanding amount	$ 149.9	$ 318.6
Line of credit interest rate at the end of the period	0.47%	0.24%
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 (0.47% and 0.24% at June 30, 2016 and December 31, 2015, 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
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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating Leased Assets [Line Items]
Total rental expense	$ 2.8	$ 2.4	$ 5.6	$ 4.7
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, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2016	$ 4,517
2,017	10,210
2,018	9,870
2,019	8,864
2,020	8,026
2,021	6,650
Thereafter	12,268
Total rental payment due, net	$ 60,405

Servicing - Additional Informat

Servicing - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Transfers and Servicing [Abstract]
Unpaid principal balance of servicing portfolio of commercial real estate loan	$ 54,700	$ 48,700
Funds held in escrow	$ 166.4	$ 177.5

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Current Federal Tax			$ 8,399	$ 11,883
State Current Tax			1,420	2,520
Federal and State Current Total			9,819	14,403
Federal Deferred Tax			8,991	6,080
State Deferred Tax			826	1,957
Federal and State Deferred Total			9,817	8,037
Federal Current and Deferred Total			17,390	17,963
State Current and Deferred Total			2,246	4,477
Income tax expense	$ 10,467	$ 13,992	$ 19,636	$ 22,440

Income Taxes - Summary of Inc52

Income Taxes - Summary of Income Tax Expense Allocation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Taxes computed at federal rate			$ 17,275	$ 18,558
State and local taxes, net of federal tax benefit			1,890	2,277
Effect of deferred tax rate change				1,284
Change in income tax benefit payable to stockholder				(136)
Meals and entertainment			464	455
Other			7	2
Income tax expense	$ 10,467	$ 13,992	$ 19,636	$ 22,440
Taxes computed at federal rate, Percentage			35.00%	35.00%
State and local taxes, net of federal tax benefit, Percentage			3.80%	4.30%
Effect of deferred tax rate change, Percentage			0.00%	2.40%
Change in income tax benefit payable to stockholder,Percentage			0.00%	(0.30%)
Meals and entertainment, Percentage			0.90%	0.90%
Other, Percentage			0.00%	0.00%
Income tax expense, Total Percentage			39.80%	42.30%

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Deferred income tax assets:
Section 754 election tax basis step-up	$ 124,007	$ 129,862
Tenant improvements	3,327	3,118
Restricted stock units	6,175	6,229
Compensation	593	4,267
Intangible asset	406	425
Other	604	465
Deferred income tax asset	135,112	144,366
Deferred income tax liabilities:
Goodwill	(1,263)	(1,262)
Servicing rights	(12,275)	(10,827)
Deferred rent	(1,718)	(1,822)
Investment in partnership	(578)	(578)
Deferred income tax liability	(15,834)	(14,489)
Net deferred income tax asset	$ 119,278	$ 129,877

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Income Taxes [Line Items]
Deferred annual pre-tax benefit	$ 124,000,000			$ 124,000,000
Operating loss carried back date				2 years
Operating loss carried forward date				20 years
Assumed revenue generated in each year				$ 305,000,000
Deferred anticipated pre-tax benefit	34,600,000			34,600,000
Interest or penalties	0		$ 0	0	$ 0
Future tax benefits	124,000,000			$ 124,000,000
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	121,200,000			$ 121,200,000
Tax benefit relating to the Section 754 basis step-up	(10,467,000)		$ (13,992,000)	$ (19,636,000)	$ (22,440,000)
HFF Holdings [Member]
Schedule Of Income Taxes [Line Items]
Amount of cash savings to HFF holdings				85.00%		85.00%
Tax benefit relating to the Section 754 basis step-up						$ 12,600,000
Payments under the tax receivable agreement		$ 10,800,000
Term of tax receivable agreement in aggregate amount paid	63,400,000			$ 63,400,000
Anticipated amount to be paid under tax receivable agreement to HFF Holdings 2016	10,800,000			10,800,000
Federal [Member]
Schedule Of Income Taxes [Line Items]
Net operating loss carry forwards	$ 0			$ 0
Amount of cash savings to HFF holdings				85.00%
State and Local Income Tax [Member]
Schedule Of Income Taxes [Line Items]
Amount of cash savings to HFF holdings				85.00%

Stockholders Equity - Additiona

Stockholders Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 19, 2016	Feb. 08, 2016	Jan. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Class of Stock [Line Items]
Aggregate dividend paid				$ 68,362	$ 67,821
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
Voting rights per common stock				1
Common stock, shares issued				38,462,258		38,351,367
Class A Common Stock [Member] | Restricted Stock [Member]
Class of Stock [Line Items]
Restricted stock (dividend units) granted for unvested and vested		82,536
Class A Common Stock [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Common stock, shares issued				38,462,258		38,351,367
Special cash dividend			$ 1.80
Dividends payable, date of record			Feb. 8, 2016
Dividends payable, declaration date				Jan. 22, 2016
Dividends payable, payment date			Feb. 19, 2016
Aggregate dividend paid	$ 68,400

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income	$ 15,846	$ 21,174	$ 29,722	$ 30,583
Weighted Average Shares Outstanding:
Basic	38,263,657	37,993,887	38,215,246	37,944,922
Diluted	38,961,753	38,461,869	38,667,842	38,315,071

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Restricted Stock [Member]
Earnings Per Share [Line Items]
Stock units and stock options included in weighted average shares	189,385	165,732
Stock Options [Member]
Earnings Per Share [Line Items]
Stock units and stock options included in weighted average shares	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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income	$ 15,846	$ 21,174	$ 29,722	$ 30,583
Denominator:
Basic weighted average number of shares of Class A common stock	38,263,657	37,993,887	38,215,246	37,944,922
Add-dilutive effect of:
Weighted average common shares outstanding - diluted	38,961,753	38,461,869	38,667,842	38,315,071
Basic net income per share of Class A common stock	$ 0.41	$ 0.56	$ 0.78	$ 0.81
Diluted earnings per share of Class A common stock	$ 0.41	$ 0.55	$ 0.77	$ 0.80
Basic Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 15,846	$ 21,174	$ 29,722	$ 30,583
Denominator:
Basic weighted average number of shares of Class A common stock	38,263,657	37,993,887	38,215,246	37,944,922
Add-dilutive effect of:
Basic net income per share of Class A common stock	$ 0.41	$ 0.56	$ 0.78	$ 0.81
Diluted Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 15,846	$ 21,174	$ 29,722	$ 30,583
Denominator:
Basic weighted average number of shares of Class A common stock	38,263,657	37,993,887	38,215,246	37,944,922
Add-dilutive effect of:
Unvested restricted stock units	686,086	446,136	440,747	347,799
Stock options	12,010	21,846	11,849	22,350
Weighted average common shares outstanding - diluted	38,961,753	38,461,869	38,667,842	38,315,071
Diluted earnings per share of Class A common stock	$ 0.41	$ 0.55	$ 0.77	$ 0.80

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016
Related Party Transaction [Line Items]
Percentage of retained cash savings in income tax	15.00%
HFF Holdings [Member]
Related Party Transaction [Line Items]
Percentage of tax receivable agreement	85.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2014	Dec. 31, 2015
Summary Of Commitments And Contingent Liabilities [Line Items]
Liability to HFF Holdings		$ 15,834,000		$ 14,489,000
Accrued additional compensation to newly hired transaction professionals		$ 0		5,800,000
Additional compensation paid to newly hired transaction professionals	$ 5,800,000
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		2,019
HFF Holdings [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Amount of cash savings to HFF holdings		85.00%	85.00%
Liability to HFF Holdings		$ 121,200,000		$ 121,200,000