HFF 10-K 1 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 21, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	HF
Entity Registrant Name	HFF, Inc.
Entity Central Index Key	1,380,509
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Class A Shares Outstanding		38,227,615
Entity Public Float			$ 1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 235,582	$ 233,904
Accounts receivable	2,124	4,003
Receivable from affiliate		4
Mortgage notes receivable	290,933	318,951
Prepaid taxes	1,118	1,007
Prepaid expenses and other current assets	12,971	8,291
Total current assets	542,728	566,160
Property and equipment, net	15,837	13,592
Deferred tax asset	112,557	129,877
Goodwill	3,712	3,712
Intangible assets, net	36,614	27,022
Other noncurrent assets	5,211	2,167
Total assets	716,659	742,530
Current liabilities:
Current portion of long-term debt	448	500
Warehouse line of credit	290,980	318,618
Accrued compensation and related taxes	44,685	56,478
Accounts payable	2,065	2,118
Current portion of payable under the tax receivable agreement	11,315	10,796
Other current liabilities	18,803	18,780
Total current liabilities	368,296	407,290
Deferred rent credit	11,485	9,827
Payable under the tax receivable agreement	100,077	110,395
Long-term debt, less current portion	259	514
Total liabilities	480,117	528,026
Stockholders' equity:
Treasury stock, 372,325 and 497,055 shares at cost, respectively	(11,477)	(11,378)
Additional paid-in-capital	132,513	117,216
Retained earnings	115,121	108,283
Total equity	236,542	214,504
Total liabilities and stockholders' equity	716,659	742,530
Class A Common Stock [Member]
Stockholders' equity:
Class A common stock, par value $0.01 per share, 175,000,000 shares authorized; 38,463,448 and 38,351,367 shares issued, respectively; and 38,091,123 and 37,854,312 outstanding, respectively	$ 385	$ 383

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Treasury stock, shares	372,325	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	38,463,448	38,351,367
Common stock, shares outstanding	38,091,123	37,854,312

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Capital markets services revenue	$ 498,590	$ 487,941	$ 418,969
Interest on mortgage notes receivable	15,198	11,205	4,603
Other	3,638	2,844	2,346
Total revenues	517,426	501,990	425,918
Expenses
Cost of services	291,290	280,674	242,393
Personnel	51,171	47,732	47,390
Occupancy	14,133	12,236	9,848
Travel and entertainment	16,786	14,644	12,304
Supplies, research, and printing	7,700	7,769	6,310
Insurance	2,242	2,472	2,036
Professional fees	5,493	5,787	4,475
Depreciation and amortization	11,834	9,194	7,830
Interest on warehouse line of credit	9,385	5,540	2,425
Other operating	11,619	8,169	6,080
Total expenses	421,653	394,217	341,091
Operating income	95,773	107,773	84,827
Interest and other income, net	33,525	32,043	17,926
Interest expense	(42)	(47)	(41)
(Increase) decrease in payable under the tax receivable agreement	(1,025)	2,143	800
Income before taxes	128,231	141,912	103,512
Income tax expense	51,036	57,949	42,226
Net income	$ 77,195	$ 83,963	$ 61,286
Earnings per share - Basic and Diluted
Income available to HFF, Inc. common stockholders - Basic	$ 2.02	$ 2.21	$ 1.62
Weighted average shares outstanding - Basic	38,245,682	37,975,997	37,758,519
Income available to HFF, Inc. common stockholders - Diluted	$ 1.99	$ 2.18	$ 1.61
Weighted average shares outstanding - Diluted	38,843,156	38,449,212	37,982,351

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - 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
Issuance of Class A common stock, net		$ 9		(9)
Issuance of Class A common stock, net, shares		626,567
Repurchase of Class A common stock	(6,282)		$ (6,282)
Repurchase of Class A common stock, shares		(197,002)	197,002
Incremental tax adjustment from stock-based award activities	979			979
Stock compensation and other, net	23,054			23,054
Dividends paid	(68,166)			1,027	(69,193)
Net income	61,286				61,286
Ending balance at Dec. 31, 2014	186,445	$ 381	$ (9,042)	101,148	93,958
Ending balance, shares at Dec. 31, 2014		37,677,981	447,382
Issuance of Class A common stock, net	229	$ 2	$ 40	187
Issuance of Class A common stock, net, shares		244,649	(18,645)
Repurchase of Class A common stock	(2,376)		$ (2,376)
Repurchase of Class A common stock, shares		(68,318)	68,318
Incremental tax adjustment from stock-based award activities	465			465
Stock compensation and other, net	13,599			13,599
Dividends paid	(67,821)			1,817	(69,638)
Net income	83,963				83,963
Ending balance at Dec. 31, 2015	214,504	$ 383	$ (11,378)	117,216	108,283
Ending balance, shares at Dec. 31, 2015		37,854,312	497,055
Issuance of Class A common stock, net	93	$ 2	$ 2,880	(2,789)
Issuance of Class A common stock, net, shares		348,892	(236,811)
Repurchase of Class A common stock	(2,979)		$ (2,979)
Repurchase of Class A common stock, shares		(112,081)	112,081
Incremental tax adjustment from stock-based award activities	(581)			(581)
Stock compensation and other, net	16,672			16,672
Dividends paid	(68,362)			1,995	(70,357)
Net income	77,195				77,195
Ending balance at Dec. 31, 2016	$ 236,542	$ 385	$ (11,477)	$ 132,513	$ 115,121
Ending balance, shares at Dec. 31, 2016		38,091,123	372,325

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net income	$ 77,195	$ 83,963	$ 61,286
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	12,310	8,579	9,820
Incremental tax adjustment from share-based award activities	581	(465)	(979)
Deferred income taxes	16,534	16,173	15,049
Payable under the tax receivable agreement	1,025	(2,143)	(800)
Depreciation and amortization:
Property and equipment	3,268	2,522	2,061
Intangibles	8,565	6,678	5,769
Gain on sale and initial recording of mortgage servicing rights	(16,033)	(16,761)	(8,069)
Mortgage service rights assumed	(4,420)	(4,090)	(4,089)
Proceeds from sale of mortgage servicing rights	2,612	6,096	2,546
Increase (decrease) in cash from changes in:
Accounts receivable	1,879	(2,541)	(369)
Payable to/(receivable from) affiliate	4	(2)	(2)
Payable under the tax receivable agreement	(10,824)	(10,822)	(10,660)
Mortgage notes receivable	27,638	(133,490)	(91,541)
Net borrowings on warehouse line of credit	(27,638)	133,490	91,541
Prepaid taxes, prepaid expenses and other current assets	(4,791)	(4,526)	(515)
Other noncurrent assets	(3,044)	(1,152)	(449)
Accrued compensation and related taxes	(7,431)	10,163	11,316
Accounts payable	(53)	31	709
Other accrued liabilities	328	(17,115)	25,486
Other long-term liabilities	1,611	3,102	1,503
Net cash provided by operating activities	79,316	77,690	109,613
Investing activities
Purchases of property and equipment	(5,254)	(5,897)	(5,004)
Net cash used in investing activities	(5,254)	(5,897)	(5,004)
Financing activities
Payments on long-term debt	(555)	(439)	(349)
Proceeds from stock options exercised	93	229
Incremental tax adjustment from share-based award activities	(581)	465	979
Treasury stock	(2,979)	(2,376)	(6,282)
Dividends paid	(68,362)	(67,821)	(68,166)
Net cash used in financing activities	(72,384)	(69,942)	(73,818)
Net increase in cash	1,678	1,851	30,791
Cash and cash equivalents, beginning of period	233,904	232,053	201,262
Cash and cash equivalents, end of period	235,582	233,904	232,053
Supplemental disclosure of cash flow information
Cash paid for income taxes	34,601	43,311	26,438
Cash paid for interest	9,258	5,328	2,472
Supplemental disclosure of non-cash financing activities
Property acquired under capital leases	249	801	561
Dividends on unissued restricted stock units	$ 1,995	$ 1,817	$ 1,027

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 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 offices in 23 cities in the United States and effective January 17, 2017, one office in London, United Kingdom. The Company’s operations are impacted by the availability of equity and/or debt as well as credit and liquidity in the domestic and global capital markets especially in the commercial real estate sector. Significant disruptions or changes in domestic and global capital market flows, as well as credit and liquidity issues in the global and domestic capital markets, regardless of their duration, could adversely affect the supply and/or demand for capital from investors for commercial real estate investments which could have a significant impact on all of the Company’s capital market services revenues. 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 HFF, Inc. 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.” On February 5, 2007, the Company closed its initial public offering of 14,300,000 shares of common stock. Net proceeds from the sale of the stock were $236.4 million, net of $18.0 million of underwriting commissions and $3.0 million of offering expenses. The proceeds of the initial public offering were used to purchase from HFF Holdings LLC, a Delaware limited liability company (“HFF Holdings”), all of the shares of Holliday GP Corp. and purchase from HFF Holdings partnership units representing approximately 39% of each of the Operating Partnerships (including partnership units in the Operating Partnerships held by Holliday GP). HFF Holdings used approximately $56.3 million of its proceeds to repay all outstanding indebtedness under HFF LP’s credit agreement. Accordingly, the Company did not retain any of the proceeds from the initial public offering. 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. Net proceeds of the overallotment were $35.9 million, net of $2.7 million of underwriting commissions and other expenses. These proceeds were used to purchase HFF Holdings partnership units representing approximately 6.0% of each of the Operating Partnerships. Accordingly the Company did not retain any of the proceeds from this purchase of additional shares. In addition to cash received for its sale of all of the shares of Holliday GP and approximately 45% 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 HFF, Inc.’s Class B common stock to HFF Holdings, an exchange right that permitted, subject to certain restrictions, 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 (the “TRA”). See Notes 13 and 14 for further discussion of the tax receivable agreement and the exchange right held by HFF Holdings. As a result of the reorganization into a holding company structure in connection with the initial public offering, the Company became a holding company through a series of transactions pursuant to a sale and purchase agreement. As a result of the initial public offering and reorganization, the Company’s sole assets are partnership interests in Operating Partnerships (that are held through its wholly-owned subsidiary HFF Partnership Holdings, LLC, a Delaware limited liability company) and all of the shares of Holliday GP, the sole general partner of each of the Operating Partnerships. The transactions that occurred in connection with the initial public offering and reorganization are referred to as the “Reorganization Transactions.” The Reorganization Transactions were treated, for financial reporting purposes, as a reorganization of entities under common control. As such, these financial statements present the consolidated financial position and results of operations as if HFF, Inc., Holliday GP and the Operating Partnerships (collectively referred to as the Company) were consolidated for all periods presented. Income earned by the Operating Partnerships subsequent to the initial public offering and attributable to the members of HFF Holdings based on their remaining ownership interest was recorded as noncontrolling interest in the consolidated financial statements. The remaining income attributable to Class A common stockholders is considered in the determination of earnings per share of Class A common stock (see Note 15). As of August 31, 2012, HFF Holdings had exchanged all of its remaining interests in the Operating Partnerships and therefore the Company, through its wholly-owned subsidiaries, became and continues to be the only equity holder of the Operating Partnerships. Additionally, since all of the partnership units had been exchanged, 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. Basis of Presentation The accompanying consolidated financial statements of the Company as of December 31, 2016 and December 31, 2015 include the accounts of HFF LP, HFF Securities and the Company’s direct wholly-owned subsidiaries, Holliday GP and Partnership Holdings. All significant intercompany accounts and transactions have been eliminated. As the sole stockholder of Holliday GP (the sole general partner of the Operating Partnerships), HFF, Inc. operates and controls all of the business and affairs of the Operating Partnerships. The Company consolidates the financial results of the Operating Partnerships.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Consolidation HFF, Inc. controls the activities of the Operating Partnerships through its 100% ownership interest of Holliday GP. As such, in accordance with ASC 810 Consolidation The accompanying consolidated financial statements of the Company include the accounts of HFF LP, HFF Securities and HFF, Inc.’s wholly-owned subsidiaries, Holliday GP and Partnership Holdings. All significant intercompany accounts and transactions have been eliminated. Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash. The Company places its cash with financial institutions in amounts which at times exceed the FDIC insurance limit. The Company has not experienced any losses in such accounts and believes it is not exposed to any credit risk on cash other than as identified herein. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and in bank accounts and short-term investments with original maturities of three months or less. At December 31, 2016, our cash and cash equivalents were invested or held in a mix of money market funds and bank demand deposit accounts at two financial institutions. Revenue Recognition Capital markets services revenues consist of origination fees, investment sales fees, loan sales fees, placement fees and servicing fees. Origination fees are earned for the placement of debt, equity or structured financing for real estate transactions. Investment sales and loan sales fees are earned for brokering sales of real estate and/or loans. Placement fees are earned by HFF Securities for discretionary and nondiscretionary equity capital raises and other investment banking services. These fees are negotiated between the Company and its clients, generally on a case-by-case basis and are recognized and generally collected at the closing and the funding of the transaction, unless collection of the fee is not reasonably assured, in which case the fee is recognized as collected. The Company’s fee agreements do not include terms or conditions that require the Company to perform any service or fulfill any obligation once the transaction closes. Servicing fees are compensation for providing any or all of the following: collection, remittance, recordkeeping, reporting and other services for either lenders or borrowers on mortgages placed with third-party lenders. Servicing fees are recognized when cash is collected as these fees are contingent upon the borrower making its payments on the loan. Certain of the Company’s fee agreements provide for reimbursement of transaction-related costs which the Company recognizes as revenue. Reimbursements received from clients for out-of-pocket expenses are characterized as revenue in the statement of income rather than as a reduction of expenses incurred. Since the Company is the primary obligor, has supplier discretion, and bears the credit risk for such expenses, the Company records reimbursement revenue for such out-of-pocket expenses. Reimbursement revenue is recognized when billed if collectibility is reasonably assured. Reimbursement revenue is classified as other revenue in the consolidated statements of income. Mortgage Notes Receivable The Company is qualified with the Federal Home Loan Mortgage Corporation (Freddie Mac) as a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Senior Housing Loans provider (Freddie Mac Program). Under this Freddie Mac Program, the Company originates mortgages based on commitments from Freddie Mac, and then sells the loans to Freddie Mac approximately one month following the loan origination. The Company recognizes interest income on the accrual basis during this holding period based on the contract interest rate in the loan that will be purchased by Freddie Mac (see Note 8). The Company records mortgage loans held for sale at period end at fair value. Freddie Mac requires HFF LP to meet minimum net worth and liquid assets requirements and to comply with certain other standards. As of December 31, 2016, HFF LP met Freddie Mac’s minimum net worth and liquid assets requirements. Advertising Costs associated with advertising are expensed as incurred. Advertising expense was $1.0 million, $0.9 million and $0.8 million for the years ended December 31, 2016, 2015 and 2014, respectively. These amounts are included in other operating expenses in the accompanying consolidated statements of income. Property and Equipment Property and equipment are recorded at cost. The Company depreciates furniture, office equipment and computer equipment on the straight-line method over three to seven years. Software costs are depreciated using the straight-line method over three years, while capital leases and leasehold improvements are depreciated using the straight-line method over the shorter of the term of the lease or useful life of the asset. Depreciation expense was $3.3 million, $2.5 million and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. Expenditures for routine maintenance and repairs are charged to expense as incurred. Renewals and betterments which substantially extend the useful life of an asset are capitalized. Leases The Company leases all of its facilities under operating lease agreements. These lease agreements typically contain tenant improvement allowances. The Company records tenant improvement allowances as a leasehold improvement asset, included in property and equipment, net in the consolidated balance sheet, and a related deferred rent liability and amortizes them on a straight-line basis over the shorter of the term of the lease or useful life of the asset as additional depreciation expense and a reduction to rent expense, respectively. Lease agreements sometimes contain rent escalation clauses or rent holidays, which are recognized on a straight-line basis over the life of the lease in accordance with ASC 840, Leases Computer Software Costs Certain costs related to the development or purchases of internal-use software are capitalized. Internal computer software costs that are incurred in the preliminary project stage are expensed as incurred. Direct consulting costs as well as payroll and related costs, which are incurred during the development stage of a project are capitalized and amortized using the straight-line method over estimated useful lives of three years when placed into production. Goodwill Goodwill of $3.7 million represents the excess of the purchase price over the estimated fair value of the acquired net assets of HFF LP on June 16, 2003. The Company does not amortize goodwill, but evaluates goodwill on at least an annual basis for potential impairment. Prepaid Compensation Under Employment Agreements The Company entered into employment agreements with certain employees whereby sign-up bonuses and incentive compensation payments were made during 2016, 2015 and 2014. In most cases, the sign-up bonuses and the incentive compensation are to be repaid to the Company upon voluntary termination by the employee or termination by cause (as defined) by the Company prior to the termination of the employment agreement. The total cost of the employment agreements is being amortized by the straight-line method over the term of the agreements and is included in cost of services on the accompanying consolidated statements of income. As of December 31, 2016 and 2015, there was a total of approximately $6.8 million and $3.0 million of unamortized costs related to HFF LP agreements, respectively. Transaction Professional Draws As part of the Company’s overall compensation program, the Company offers a new transaction professional a draw arrangement which generally lasts until such time as a transaction professional’s pipeline of business is sufficient to allow the transaction professional to earn sustainable commissions. This program is intended to provide the transaction professional with a minimal amount of cash flow to allow adequate time for the transaction professional to develop business relationships. Similar to traditional salaries, the transaction professional draws are paid irrespective of the actual fees generated by the transaction professional. At times these transaction professional draws represent the only form of compensation received by the transaction professional. It is not the Company’s policy to seek collection of unearned transaction professional draws under this arrangement. Transaction professionals are also entitled to earn a commission on closed revenue transactions. Commissions are calculated as the commission that would have been earned by the broker under one of the Company’s commission programs, less any amount previously paid to the transaction professional in the form of a draw. As a result, the Company has concluded that transaction professional draws are economically equivalent to commissions paid and, accordingly, charges them to commissions as incurred. These amounts are included in cost of services on the accompanying consolidated statements of income. Intangible Assets Intangible assets include mortgage servicing rights under agreements with third-party lenders. Servicing rights are capitalized for servicing assumed on loans originated and sold to Freddie Mac with servicing retained based on an allocation of the carrying amount of the loan and the servicing right in proportion to the relative fair values at the date of sale. Servicing rights are recorded at the lower of cost or market. Mortgage servicing rights do not trade in an active, open market and therefore, do not have 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 net 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. The estimate is based on a number of assumptions, 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 cost of servicing, prepayment rates and discount rates are the most sensitive factors affecting the estimated fair value of the servicing rights. Management estimates a market participant’s cost of servicing by analyzing the limited market activity and considering the Company’s own internal servicing costs. Management estimates the discount rate by considering the various risks involved in the future cash flows of the underlying loans which include the cancellation of servicing contracts and the incremental risk related to large loans. Management estimates the prepayment levels of the underlying mortgages by analyzing recent historical experience. Many of the commercial loans being serviced have financial penalties for prepayment or early payoff before the stated maturity date. As a result, the Company has consistently experienced a low level of loan runoff. The estimated value of the servicing rights is impacted by changes in these assumptions. The Company applies the provisions of ASC 860, Transfers and Servicing The Company evaluates amortizable intangible assets on an annual basis, or more frequently if circumstances so indicate, for potential impairment. Indicators of impairment monitored by management include a decline in the level of serviced loans. Earnings Per Share The Company computes net income per share in accordance with ASC 260, Earnings Per Share Firm and Office Profit Participation Plans and Executive Bonus Plan The Company’s firm and office profit participation plans and effective January 1, 2015, an executive bonus plan (the “Plans”) provide for payments in cash and share-based awards if certain performance metrics are achieved during the year. The expense recorded for these Plans is estimated during the year based on actual results at each interim reporting date and an estimate of future results for the remainder of the year. The Plans allow for payments to be made in both cash and share-based awards, the composition of which is determined in the first calendar quarter of the subsequent year. Cash and share-based awards issued under these Plans are subject to vesting conditions over the subsequent year, such that the total expense measured for these Plans is recorded over the period from the beginning of the performance year through the vesting date. Based on an accounting policy election 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 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 in the performance year 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 Based Compensation ASC 718, Compensation — Stock Compensation Income Taxes HFF, Inc. and Holliday GP are corporations, and the Operating Partnerships are limited partnerships. The Operating Partnerships are subject to state and local income taxes. Income and expenses of the Operating Partnerships are passed through and reported on the corporate income tax returns of HFF, Inc. and Holliday GP. Income taxes shown on the Company’s consolidated statements of income reflect federal income taxes of the corporation and business and corporate income taxes in various jurisdictions. These taxes are assessed on the net income of the corporations, including its share of the Operating Partnerships’ net income. The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax losses and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized in income in the period of the tax rate change. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Cost of Services The Company considers personnel expenses directly attributable to providing services to its clients, such as salaries, commissions and transaction bonuses to transaction professionals and analysts, and certain purchased services to be directly attributable to the generation of capital markets services revenue and has classified these expenses as cost of services in the consolidated statements of income. Segment Reporting The Company operates in one reportable segment, the commercial real estate financial intermediary segment and offers debt placement, investment sales, loan sales, loan servicing, equity placement and investment banking services through its 23 offices. The results of each office have been aggregated for segment reporting purposes as they have similar economic characteristics and provide similar services to a similar class of customer. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Treasury Stock The Company records common stock purchased for treasury at cost. At the date of subsequent reissue, the treasury stock account is reduced by the cost of such stock on the first-in, first-out basis. Recent Accounting Pronouncements In December 2016, the Financial Accounting Standards Board (“FASB”) issued Update 2016-19 — “Technical Corrections and Improvements”, which covers a wide range of Topics in the Accounting Standards Codification (ASC). The amendments in this Update represent changes to clarify, correct errors, or make minor improvements to the ASC, making it easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments generally fall into one of the following categories: amendments related to differences between original guidance and the ASC, guidance clarification and reference corrections, simplification, or minor improvements. Most of the amendments in this Update do not require transition guidance and are effective upon issuance of this Update. In March 2016, the 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 expects the impact of the new guidance to be immaterial to the Company’s 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, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” which is required to be adopted by the Company in fiscal year 2018. This ASU supersedes the revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. The standard implements a five-step model for determining when and how revenue is recognized. Under the model, an entity will be required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We are still evaluating the impact of the new revenue recognition standard. We have identified an implementation team responsible for assessing the impact of ASU No. 2014-09 on our contracts and we will continue our evaluation and assessment on the impact on our financial statements and related disclosures.

Stock Compensation

Stock Compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation	3. Stock Compensation ASC 718 requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees and directors including employee stock options and other forms of equity compensation based on estimated fair values. The Company estimates the grant-date fair value of stock options using the Black-Scholes option-pricing model. For stock options, the Company uses the simplified method to determine the expected term of the option. Expected volatility used to value stock options is based on the Company’s historical volatility. The Company has not granted any stock options since 2010. The fair value of the restricted stock unit awards is calculated as the market value of the Company’s Class A common stock on the date of grant. The Company’s awards are subject to graded or cliff vesting. Compensation expense is adjusted for estimated forfeitures and is recognized on a straight-line basis over the requisite service period of the award. Forfeiture assumptions for all stock-based payment awards are evaluated on a quarterly basis and updated as necessary. A summary of the cost of the awards granted during the years ended December 31, 2016 and 2015 is provided below. Equity Incentive Plan Prior to the effective date of the initial public offering, the stockholder of HFF, Inc. and the Board of Directors adopted the HFF, Inc. 2006 Omnibus Incentive Compensation Plan (the “2006 Plan”). The 2006 Plan authorized the grant of deferred stock, restricted stock, stock options, stock appreciation rights, stock units, stock purchase rights and cash-based awards. Upon the effective date of the registration statement, grants were awarded under the 2006 Plan to certain employees and non-employee members of the board of directors. The 2006 Plan imposed limits on the awards that may be made to any individual during a calendar year. The number of shares available for awards under the terms of the 2006 Plan was 3,500,000 (subject to stock splits, stock dividends and similar transactions). On May 26, 2016, the stockholders of HFF, Inc. adopted the 2016 Equity Incentive Plan (the “2016 Equity Plan”). The 2016 Equity Plan replaces the 2006 Plan and reserves for 3,859,524 (including 109,524 shares not previously awarded under the 2006 Plan) shares for issuance of awards. The 2016 Equity Plan authorizes the grant of options, SARs, restricted stock, restricted stock units and other stock-based awards. For a full copy of the 2016 Equity Plan, see Annex B to the Proxy Statement filed with the SEC on April 29, 2016. The stock compensation cost that has been charged against income for the years ended December 31, 2016, 2015 and 2014 was $12.3 million, $8.6 million and $9.8 million, respectively, which is recorded in “Personnel” expenses in the consolidated statements of income. At December 31, 2016, there was approximately $28.7 million of unrecognized compensation cost related to share based awards. The fair value of stock options is estimated on the grant date using a Black-Scholes option-pricing model. The following table presents the weighted average assumptions for stock options still outstanding as of December 31, 2016: Dividend yield 0.0 % Expected volatility 72.8 % Risk-free interest rate 2.2 % Expected life (in years) 6.0 The following table presents options outstanding for the years ended December 31, 2014, 2015 and 2016 and their related weighted average exercise price, weighted average remaining contractual term and intrinsic value: Options Weighted Weighted Aggregate Balance at January 1, 2014 51,586 $ 8.92 5.0 years $ 925 Granted — — — — Exercised — — — — Forfeited or expired — — — — Balance at December 31, 2014 51,586 $ 8.92 4.0 years $ 1,393 Granted — — — — Exercised (26,594 ) 8.61 2.5 875 Forfeited or expired — — — — Balance at December 31, 2015 24,992 $ 9.25 3.5 years $ 777 Granted — — — — Exercised (5,338 ) 17.41 0.2 159 Forfeited or expired — — — — Balance at December 31, 2016 19,654 $ 7.04 3.1 years $ 595 No options were granted, vested, forfeited or expired during the years ended December 31, 2016, 2015 and 2014. During the year ended December 31, 2016, 5,338 options were exercised for which treasury shares were re-issued. A summary of restricted stock units (“RSU”) activity and related information during the period was as follows: RSU’s with no RSU’s with graded Total Balance at January 1, 2014 127,288 547,792 675,080 Granted 12,877 940,007 952,884 Dividend on issued RSU’s 7,900 34,208 42,108 Converted to common stock (4,878 ) (621,689 ) (626,567 ) Forfeited or expired — — — Balance at December 31, 2014 143,187 900,318 1,043,505 Granted 9,108 461,597 470,705 Dividend on unissued RSU’s 6,748 42,635 49,383 Converted to common stock (2,793 ) (215,262 ) (218,055 ) Forfeited or expired — (49,689 ) (49,689 ) Balance at December 31, 2015 156,250 1,139,599 1,295,849 Granted 12,372 1,060,434 1,072,806 Dividend on unissued RSU’s 11,576 70,960 82,536 Converted to common stock (2,035 ) (341,519 ) (343,554 ) Forfeited or expired — (26,745 ) (26,745 ) Balance at December 31, 2016 178,163 1,902,729 2,080,892 As of December 31, 2016, there were 2,080,892 RSU’s outstanding. The fair value of vested RSU’s was $5.9 million and $5.1 million at December 31, 2016 and December 31, 2015, respectively. The RSU exercises will be settled through either the issuance of new shares of Class A common stock or treasury shares. The weighted average remaining contractual term of the nonvested restricted stock units is 2.5 years as of December 31, 2016. On February 14, 2017, the board of directors for the Company granted 249,998 restricted stock units with a fair value of $7.4 million which vest over a five year period with 20% vesting increments starting on the first anniversary of the grant. Additionally, on February 14, 2017, the board of directors for the Company granted 472,088 restricted stock units with a fair value of $14.0 million in connection with the 2016 office and firm profit participation plans and executive bonus plan which vest over a three year period with one-third vesting on each of the first, second and third anniversary of the grant.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consist of the following (in thousands): December 31 2016 2015 Furniture and equipment $ 7,667 $ 7,055 Computer equipment 2,145 1,555 Capitalized software costs 2,043 882 Leasehold improvements 15,813 13,454 Subtotal 27,668 22,946 Less accumulated depreciation and amortization (11,831 ) (9,354 ) $ 15,837 $ 13,592 At December 31, 2016 and 2015, the Company has recorded capital leased office equipment within furniture and equipment of $1.9 million and $1.7 million, respectively, including accumulated amortization of $1.2 million and $0.8 million, respectively, which is included within depreciation and amortization expense on the accompanying consolidated statements of income. See Note 7 for discussion of the related capital lease obligations.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The Company’s intangible assets are summarized as follows (in thousands): December 31, 2016 December 31, 2015 Gross Accumulated Net Book Gross Accumulated Net Book Amortizable intangible assets: Mortgage servicing rights $ 64,648 $ (28,034 ) $ 36,614 $ 49,771 $ (22,849 ) $ 26,922 Unamortizable intangible assets: FINRA license — — — 100 — 100 Total intangible assets $ 64,648 $ (28,034 ) $ 36,614 $ 49,871 $ (22,849 ) $ 27,022 As of December 31, 2016, 2015 and 2014, the Company serviced $58.0 billion, $48.7 billion and $39.3 billion, respectively, of commercial loans. The Company earned $23.2 million, $20.0 million and $17.0 million in servicing fees and interest on float and escrow balances for the years ended December 31, 2016, 2015 and 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 is no corresponding mortgage servicing right recorded on the balance sheet, as these servicing rights were assumed prior to January 1, 2007 and involved no initial consideration paid by the Company. The Company has recorded mortgage servicing rights of $36.6 million and $26.9 million on $56.5 billion and $45.2 billion, respectively, of the total loans serviced as of December 31, 2016 and 2015. 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 years ended December 31, 2016 and 2015 (in thousands): Category 12/31/15 Capitalized Amortized Sold / Transferred 12 /31 /16 Freddie Mac $ 7,074 $ 14,480 $ (2,257 ) $ (3,063 ) $ 16,234 CMBS 16,768 1,059 (3,997 ) 2,417 16,247 Life company 2,729 2,849 (2,011 ) — 3,567 Life company — limited 351 515 (300 ) — 566 Total $ 26,922 $ 18,903 $ (8,565 ) $ (646 ) $ 36,614 Category 12/31/14 Capitalized Amortized Sold / Transferred 12 /31 /15 Freddie Mac $ 5,199 $ 10,470 $ (1,447 ) $ (7,148 ) $ 7,074 CMBS 13,021 1,541 (3,428 ) 5,634 16,768 Life company 1,913 2,357 (1,541 ) — 2,729 Life company — limited 414 192 (255 ) — 351 Total $ 20,547 $ 14,560 $ (6,671 ) $ (1,514 ) $ 26,922 Amounts capitalized represent mortgage servicing rights retained upon the sale of originated loans to Freddie Mac and mortgage servicing rights acquired without the exchange of initial consideration. The Company recorded mortgage servicing rights retained upon the sale of originated loans to Freddie Mac of $14.5 million and $10.5 million on $4.4 billion and $4.8 billion of loans, respectively, during the years ended December 31, 2016 and 2015, respectively. The Company recorded mortgage servicing rights acquired without the exchange of initial consideration on the CMBS and Life company tranches of $4.4 million and $4.1 million on $10.7 billion and $9.2 billion of loans, respectively, during the years ended December 31, 2016 and 2015. These amounts are recorded in interest and other income, net in the consolidated statements of income. During each of 2016 and 2015, certain Freddie Mac loans were securitized and the Company sold the cashiering portion of these Freddie Mac mortgage servicing rights. While the Company transferred the risks and rewards of ownership of the cashiering portion of the relevant mortgage servicing rights, the Company continues to perform limited servicing activities on these securitized loans. 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 each of the years ended December 31, 2016 and 2015 of $2.0 million and $4.6 million, respectively, within interest and other income, net in the consolidated income statements. The Company also received securitization compensation in relation to securitization of certain Freddie Mac mortgage servicing rights in the years ended December 31, 2016 and 2015 of $5.5 million and $7.4 million, 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 $8.6 million, $6.7 million, and $5.8 million for the years ended December 31, 2016, 2015 and 2014, respectively, and is reported in depreciation and amortization in the consolidated statements of income. Estimated amortization expense for the next five years is as follows (in thousands): 2017 $ 8,709 2018 7,176 2019 5,221 2020 4,083 2021 3,562 The weighted-average remaining life of the mortgage servicing rights intangible asset was 6.5 and 6.6 years at December 31, 2016 and 2015, respectively.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	6. Fair Value Measurement ASC Topic 820, Fair Value Measurement In May 2011, the Financial Accounting Standards Board issued an accounting pronouncement which amends the fair value measurement and disclosure requirements to achieve common disclosure requirements between GAAP and International Financial Reporting Standards. The accounting pronouncement requires certain disclosures about transfers between Level 1 and Level 2 of the fair value hierarchy, sensitivity of fair value measurements categorized within Level 3 of the fair value hierarchy, and categorization by level of items that are reported at cost but are required to be disclosed at fair value. The adoption of this pronouncement had no impact on the Company’s consolidated financial statements. 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 buyers are undesignated derivatives with level 3 inputs 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 December 31, 2016 (in thousands): December 31, 2016 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Recurring fair value measurements Mortgage notes receivable $ 290,933 $ — $ 290,933 $ — Total recurring fair value measurements $ 290,933 $ — $ 290,933 $ — 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. 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, 2016 (in thousands): December 31, 2016 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage servicing rights $ 36,614 $ — $ — $ 49,970 Total nonrecurring fair value measurements $ 36,614 $ — $ — $ 49,970 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 serving rights are recorded at fair value upon initial recording and were not re-measured during 2016 because the Company continued to utilize the amortization method under ASC 860 and the fair value of the mortgage serving rights exceeds the carrying value at December 31, 2016. Adjustments are only recorded when the discounted cash flows derived from the valuation model are less than the carrying value of the asset. As such, mortgage servicing rights are subject to measurement at fair value on a 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 December 31, 2015 (in thousands): December 31, 2015 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant 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 The fair value of the mortgage notes receivable was based on prices observable in the market for similar loans and equaled carrying value at December 31, 2015. Therefore, no lower of cost or fair value adjustment was required. 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 servicing the loans. Management makes certain assumptions and judgments in estimating the fair value of servicing rights. The estimate is based on a number of assumptions, 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 December 31, 2016 and 2015 are as follows: As of December 31, 2016 2015 Expected life of cash flows 3 years to 11 years 3 years to 10 years Discount rate(1) 10% to 16% 14% to 20% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,920 to $4,997 $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 our valuation model. FASB ASC Topic 825, Financial Instruments Cash and Cash Equivalents Warehouse line of credit

Capital Lease Obligations

Capital Lease Obligations	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Capital Lease Obligations	7. Capital Lease Obligations Capital lease obligations consist of the following at December 31, 2016 and 2015 (in thousands): December 31 2016 2015 Capital lease obligations $ 707 $ 1,014 Less current maturities 448 500 $ 259 $ 514 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 December 31, 2016 is as follows (in thousands): 2017 $ 448 2018 219 2019 40 2020 — 2021 — $ 707

Warehouse Line of Credit

Warehouse Line of Credit	12 Months Ended
	Dec. 31, 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 the Freddie Mac Program. The Company is a party to an uncommitted $450 million financing arrangement with PNC Bank, N.A. (“PNC”) that can be increased to $550 million four times a year for a period of 45 calendar days. The Company is also party to an uncommitted $125 million financing arrangement with The Huntington National Bank (“Huntington”) that can be increased to $150 million three times in a one-year period for 30 business days. On September 30, 2016, HFF LP entered into an extended funding agreement with Freddie Mac whereby Freddie Mac can extend the Original Funding Date (as defined in the agreement) on any mortgage that HFF LP funds within the fourth quarter of 2016, to February 15, 2017. In connection with the extended funding agreement with Freddie Mac, PNC agreed to increase the financing arrangement to $2.0 billion. Once the extended funding agreement with Freddie Mac expired on February 15, 2017, the capacity under the PNC warehouse agreement reverted to $450 million. Each funding is separately approved on a transaction-by-transaction basis and is collateralized by a loan and mortgage on a multifamily property that is ultimately purchased by Freddie Mac. The PNC and Huntington financing arrangements are only for the purpose of supporting the Company’s participation in the Freddie Mac Program and cannot be used for any other purpose. As of December 31, 2016 and December 31, 2015, HFF LP had $291.0 million and $318.6 million, respectively, outstanding on the warehouse lines of credit. Interest on the warehouse lines of credit is at the 30-day LIBOR rate (0.62% and 0.24% at December 31, 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.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 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 eight years upon prior notice and payment of a termination fee by the Company. Total rental expense charged to operations was $11.7 million, $10.1 million, and $7.8 million for the years ended December 31, 2016, 2015 and 2014, respectively, 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 (in thousands): 2017 $ 10,371 2018 10,032 2019 9,062 2020 8,116 2021 6,696 Thereafter 12,283 $ 56,560 The Company subleases certain office space to subtenants, some of which 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 for further description of the assets and related obligations recorded under these capital leases at December 31, 2016 and 2015, respectively. HFF Holdings is not an obligor under, nor does it guarantee, any of the Company’s leases.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement Plan	10. Retirement Plan The Company maintains a retirement savings plan for all eligible employees, in which employees may make deferred salary contributions up to the maximum amount allowable by the IRS. After-tax contributions may also be made up to 50% of compensation. The Company makes matching contributions equal to 50% of the first 6% of both deferred and after-tax salary contributions, up to a maximum of $5,000. The Company’s contributions charged to expense for the plan were $2.7 million, $2.4 million, and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Servicing

Servicing	12 Months Ended
	Dec. 31, 2016
Transfers and Servicing [Abstract]
Servicing	11. Servicing The Company services commercial real estate loans for investors. The servicing portfolio totaled $58.0 billion, $48.7 billion, and $39.3 billion at December 31, 2016, 2015 and 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 December 31, 2016, 2015 and 2014, the funds held in escrow totaled $182.3 million, $177.5 million and $240.3 million, respectively. These funds, and the offsetting obligations, are not presented in the Company’s financial statements as they do not represent 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	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	12. 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	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Income tax expense includes current and deferred taxes as follows (in thousands): Current Deferred Total Year Ended December 31, 2016: Federal $ 28,515 $ 15,772 $ 44,287 State 5,987 762 6,749 $ 34,502 $ 16,534 $ 51,036 Current Deferred Total Year Ended December 31, 2015: Federal $ 35,682 $ 13,131 $ 48,813 State 6,094 3,042 9,136 $ 41,776 $ 16,173 $ 57,949 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 year ended December 31, 2016 and 2015 (dollars in thousands): Dec. 31, Dec. 31, Pre-tax book income $ 128,231 $ 141,912 December 31, 2016 2015 Income Tax expense Rate Rate Taxes computed at federal rate $ 44,881 35.0 % $ 49,669 35.0 % State and local taxes, net of federal tax benefit 5,258 4.1 % 5,251 3.7 % Effect of deferred tax rate change (1,188 ) (0.9 )% 2,621 1.8 % Change in income tax benefit / payable to stockholder 359 0.3 % (750 ) (0.5 )% Return to provision adjustment 196 0.1 % (130 ) (0.1 )% Meals and entertainment 1,484 1.2 % 1,267 0.9 % Other 46 0.0 % 21 0.0 % $ 51,036 39.8 % $ 57,949 40.8 % Deferred income tax assets and liabilities consist of the following at December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Deferred income tax assets: Section 754 election tax basis step-up $ 117,749 $ 129,862 Tenant improvements 3,571 3,118 Restricted stock units 8,564 6,229 Compensation — 4,267 Intangible asset 389 425 Other 932 465 Deferred income tax asset 131,205 144,366 Deferred income tax liabilities: Goodwill (1,272 ) (1,262 ) Servicing rights (15,003 ) (10,827 ) Deferred rent (1,671 ) (1,822 ) Compensation (120 ) — Investment in partnership (582 ) (578 ) Deferred income tax liability (18,648 ) (14,489 ) Net deferred income tax asset $ 112,557 $ 129,877 The primary deferred tax asset represents a tax basis step-up election under Section 754 of the Internal Revenue Code, as amended (“Section 754”), made by HFF, Inc. 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 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 basis step up and past payments under the tax receivable agreement was approximately $34.6 million at December 31, 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. In accordance with ASC 740, the tax effects of transactions with shareholders that result in changes in the tax basis of a company’s assets and liabilities are recognized in equity. Changes in the measurement of the deferred tax assets or the valuation allowance due to changes in the enacted tax rates upon the finalization of the income tax returns for the year of the exchange transaction were recorded in equity. 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 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 2017 pre-tax benefit associated with the Section 754 basis step up and payments under the tax receivable agreement of approximately $36.4 million, the Company needs to generate approximately $318 million in revenue each year, assuming a constant cost structure. In the event that the Company cannot realize the anticipated 2017 pre-tax benefit of $36.4 the shortfall becomes a net operating loss that can be carried back two years to offset prior years’ taxable income or carried forward 20 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 December 31, 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 examinations 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 twelve months ended December 31, 2016 or December 31, 2015. Tax Receivable Agreement In connection with the Reorganization Transactions, HFF LP and HFF Securities made an election under Section 754 for 2007 and intend to keep 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 the subsequent exchanges of partnership units increased 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 future tax payments to the extent that the Company has future taxable income. As a result of the increase in tax basis, the Company is entitled to future tax benefits of $117.7 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 and 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, if any, 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 will be 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 and had the Company not entered into the tax receivable agreement. The Company accounts for the income tax effects and corresponding tax receivable agreement effects as a result of the initial purchase and the sale of units of the Operating Partnerships in connection with the Reorganization Transactions and exchanges of Operating Partnership units for the Company’s Class A shares by recognizing a deferred tax asset for the estimated income tax effects of the increase in the tax basis of the assets owned by the Operating Partnerships, based on enacted tax rates at the date of the transaction, less any tax valuation allowance the Company believes is required. In accordance with ASC 740, the tax effects of transactions with shareholders that result in changes in the tax basis of a company’s assets and liabilities will be recognized in equity. If transactions with shareholders result in the recognition of deferred tax assets from changes in the company’s tax basis of assets and liabilities, the valuation allowance initially required upon recognition of these deferred assets will be recorded in equity. Subsequent changes in enacted tax rates or any valuation allowance are recorded as a component of income tax expense. The Company believes it is more likely than not that it will realize the benefit represented by the deferred tax asset, and, therefore, the Company recorded 85% of this estimated amount of the increase in deferred tax assets, as a liability to HFF Holdings under the tax receivable agreement and the remaining 15% of the increase in deferred tax assets directly in additional paid-in capital in stockholders’ equity. While the actual amount and timing of payments under the tax receivable agreement will 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 payments that will be made to HFF Holdings will be $111.4 million and has recorded this obligation to HFF Holdings as a liability on the consolidated balance sheet. During the year ended December 31, 2016, the tax rates used to measure the deferred tax assets were updated which resulted in an increase of deferred tax assets of $1.2 million which resulted in an increase in the payable under the tax receivable agreement of $1.0 million. The tax rates used to measure the deferred tax assets were also updated during the year ended December 31, 2015, which resulted in a decrease of deferred tax assets of $2.6 million which resulted in a decrease in the payable under the tax receivable agreement of $2.1 million. 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 filing of the Company’s 2015 federal and state tax returns, the benefit for 2015 relating to the Section 754 basis step-up was finalized resulting in $12.7 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 2016, the Company paid $10.8 million to HFF Holdings under the tax receivable agreement. 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 in tax benefits realized by the Company for 2014. During August 2015, the Company paid $10.8 million to HFF Holdings under this tax receivable agreement. As of December 31, 2016, the Company has made payments to HFF Holdings pursuant to the terms of the tax receivable agreement in an aggregate amount of approximately $111.4 million and the Company anticipates to make a payment of approximately $11.3 million to HFF Holdings in 2017.

Stockholders Equity

Stockholders Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders Equity	14. 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. The Company had issued 38,463,448 and 38,351,367 shares of Class A common stock as of December 31, 2016 and December 31, 2015, respectively. On January 24, 2017, the Company’s board of directors declared a special cash dividend of $1.57 per share of Class A common stock to stockholders of record on February 9, 2017. The aggregate dividend payment was paid on February 21, 2017 and totaled approximately $60.0 million based on the number of shares of Class A common stock then outstanding. Additionally, 95,648 restricted stock units (dividend equivalent units) were granted for those unvested and vested but not issued restricted stock units as of the record date of February 9, 2017. These dividend equivalent units follow the same vesting terms as the underlying restricted stock units. 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 equivalent 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 equivalent units follow the same vesting terms as the underlying restricted stock units. 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 equivalent 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 equivalent units follow the same vesting terms as the underlying restricted stock units.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	15. Earnings Per Share The Company’s net income and weighted average shares outstanding for the years ended December 31, 2016 and 2015, consists of the following (dollars in thousands) Year Year Net income $ 77,195 $ 83,963 Weighted Average Shares Outstanding: Basic 38,245,682 37,975,997 Diluted 38,843,156 38,449,212 The calculations of basic and diluted net income per share amounts for the years ended December 31, 2016 and 2015 are described and presented below. Basic Net Income per Share Numerator Denominator Diluted Net Income per Share Numerator Denominator Three Months Year Three Months Year Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,453 $ 77,195 $ 34,124 $ 83,963 Denominator: Weighted average number of shares of Class A common stock outstanding 38,277,889 38,245,682 38,011,731 37,975,997 Basic net income per share of Class A common stock $ 0.72 $ 2.02 $ 0.90 $ 2.21 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,453 $ 77,195 $ 34,124 $ 83,963 Denominator: Basic weighted average number of shares of Class A common stock 38,277,889 38,245,682 38,011,731 37,975,997 Add — dilutive effect of: Unvested restricted stock units 790,105 586,121 586,889 453,312 Stock options 9,911 11,353 13,040 19,903 Weighted average common shares outstanding — diluted 39,077,905 38,843,156 38,611,660 38,449,212 Diluted earnings per share of Class A common stock $ 0.70 $ 1.99 $ 0.88 $ 2.18

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Concentrations	16. Concentrations A significant portion of the Company’s capital markets services revenues is derived from transactions involving commercial real estate located in specific geographic areas. During 2016, approximately 19.0%, 13.8%, 8.5%, 6.0% and 5.0% of the Company’s capital markets services revenues were derived from transactions involving commercial real estate located in Texas, California, Florida, Illinois and New York, respectively. During 2015, approximately 22.9%, 13.1%, 10.2%, 6.3%, and 5.2% of the Company’s capital markets services revenues were derived from transactions involving commercial real estate located in Texas, California, Florida, New York and the region consisting of the District of Columbia, Maryland and Virginia, respectively. As a result, a significant portion of the Company’s business is dependent on the economic conditions in general and the markets for commercial real estate in these areas.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	17. 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, if any, 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, and 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 and Manuel A. de Zarraga, and Michael J. Tepedino, each an Executive Managing Director and a transaction professional of the Operating Partnerships, is entitled to participate in such payments, in each case on a pro rata basis based upon such person’s ownership of interests in each series of tax receivable payments created by the initial public offering or subsequent exchange of Operating Partnership units. During the third quarter of 2016, Messrs. Gibson, Thornton, Fowler, Lawton, Sansosti, de Zarraga and Tepedino received payments of $0.8 million, $0.8 million, $0.7 million, $0.2 million, $0.4 million, $0.2 million and $0.2 million in connection with the Company’s payment of $10.8 million to HFF Holdings under the tax receivable agreement. During the third quarter of 2015, Messrs. Gibson, Thornton, Fowler, Galloway, Lawton, Sansosti, de Zarraga and Tepedino received payments of $0.9 million, $0.8 million, $0.7 million, $0.4 million, $0.2 million, $0.4 million, $0.2 million and $0.2 million in connection with the Company’s payment of $10.8 million to HFF Holdings under the tax receivable agreement. The Company will retain the remaining 15% of cash savings, if any, in income tax that it realizes. For purposes of the tax receivable agreement, cash savings in income tax will be 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 13 for further information regarding the tax receivable agreement and Note 18 for the amount recorded in relation to this agreement.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. 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, if any, 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. During the year ended December 31, 2016, the Company paid HFF Holdings $10.8 million, which represents 85% of the actual cash savings realized by the Company in 2015. During the year ended December 31, 2015, the Company paid HFF Holdings $10.8 million, which represents 85% of the actual cash savings realized by the Company in 2014. The Company has recorded $111.4 million and $121.2 million for this obligation to HFF Holdings as a liability on the consolidated balance sheets as of December 31, 2016 and 2015, respectively. The Company anticipates making a payment to HFF Holdings of approximately $11.3 million in 2017. 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 2017 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. As of December 31, 2016 and 2015, $0.1 million and $5.8 million, respectively, have been accrued for these arrangements on the consolidated balance sheet.

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	19. Selected Quarterly Financial Data (unaudited, in thousands except for per share data) Quarter Ended 2016 March 31 June 30 September 30 December 31 Net revenue $ 117,530 $ 117,665 $ 126,535 $ 155,696 Operating income 16,741 17,585 24,261 37,186 Interest and other income, net 6,317 8,739 9,053 9,416 Increase in payable under the tax receivable agreement — — (1,025 ) — Net income 13,876 15,846 20,020 27,453 Per share data (1) Basic earnings per share $ 0.36 $ 0.41 $ 0.52 $ 0.72 Diluted earnings per share $ 0.36 $ 0.41 $ 0.51 $ 0.70 Quarter Ended 2015 March 31 June 30 September 30 December 31 Net revenue $ 94,271 $ 124,992 $ 113,685 $ 169,042 Operating income 11,236 25,701 23,866 46,970 Interest and other income, net 5,541 9,476 7,989 9,037 Decrease in payable under the tax receivable agreement 1,091 — 1,052 — Net income 9,409 21,174 19,256 34,124 Per share data (1) Basic earnings per share $ 0.25 $ 0.56 $ 0.51 $ 0.90 Diluted earnings per share $ 0.25 $ 0.55 $ 0.50 $ 0.88 (1) Earnings per share were computed independently for each of the periods presented; therefore, the sum of the earnings per share amounts for the quarters may not equal the total for the year.

Organization and Basis of Pre26

Organization and Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company as of December 31, 2016 and December 31, 2015 include the accounts of HFF LP, HFF Securities and the Company’s direct wholly-owned subsidiaries, Holliday GP and Partnership Holdings. All significant intercompany accounts and transactions have been eliminated. As the sole stockholder of Holliday GP (the sole general partner of the Operating Partnerships), HFF, Inc. operates and controls all of the business and affairs of the Operating Partnerships. The Company consolidates the financial results of the Operating Partnerships.
Consolidation	Consolidation HFF, Inc. controls the activities of the Operating Partnerships through its 100% ownership interest of Holliday GP. As such, in accordance with ASC 810 Consolidation The accompanying consolidated financial statements of the Company include the accounts of HFF LP, HFF Securities and HFF, Inc.’s wholly-owned subsidiaries, Holliday GP and Partnership Holdings. All significant intercompany accounts and transactions have been eliminated.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash. The Company places its cash with financial institutions in amounts which at times exceed the FDIC insurance limit. The Company has not experienced any losses in such accounts and believes it is not exposed to any credit risk on cash other than as identified herein.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and in bank accounts and short-term investments with original maturities of three months or less. At December 31, 2016, our cash and cash equivalents were invested or held in a mix of money market funds and bank demand deposit accounts at two financial institutions.
Revenue Recognition	Revenue Recognition Capital markets services revenues consist of origination fees, investment sales fees, loan sales fees, placement fees and servicing fees. Origination fees are earned for the placement of debt, equity or structured financing for real estate transactions. Investment sales and loan sales fees are earned for brokering sales of real estate and/or loans. Placement fees are earned by HFF Securities for discretionary and nondiscretionary equity capital raises and other investment banking services. These fees are negotiated between the Company and its clients, generally on a case-by-case basis and are recognized and generally collected at the closing and the funding of the transaction, unless collection of the fee is not reasonably assured, in which case the fee is recognized as collected. The Company’s fee agreements do not include terms or conditions that require the Company to perform any service or fulfill any obligation once the transaction closes. Servicing fees are compensation for providing any or all of the following: collection, remittance, recordkeeping, reporting and other services for either lenders or borrowers on mortgages placed with third-party lenders. Servicing fees are recognized when cash is collected as these fees are contingent upon the borrower making its payments on the loan. Certain of the Company’s fee agreements provide for reimbursement of transaction-related costs which the Company recognizes as revenue. Reimbursements received from clients for out-of-pocket expenses are characterized as revenue in the statement of income rather than as a reduction of expenses incurred. Since the Company is the primary obligor, has supplier discretion, and bears the credit risk for such expenses, the Company records reimbursement revenue for such out-of-pocket expenses. Reimbursement revenue is recognized when billed if collectibility is reasonably assured. Reimbursement revenue is classified as other revenue in the consolidated statements of income.
Mortgage Notes Receivable	Mortgage Notes Receivable The Company is qualified with the Federal Home Loan Mortgage Corporation (Freddie Mac) as a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Senior Housing Loans provider (Freddie Mac Program). Under this Freddie Mac Program, the Company originates mortgages based on commitments from Freddie Mac, and then sells the loans to Freddie Mac approximately one month following the loan origination. The Company recognizes interest income on the accrual basis during this holding period based on the contract interest rate in the loan that will be purchased by Freddie Mac (see Note 8). The Company records mortgage loans held for sale at period end at fair value. Freddie Mac requires HFF LP to meet minimum net worth and liquid assets requirements and to comply with certain other standards. As of December 31, 2016, HFF LP met Freddie Mac’s minimum net worth and liquid assets requirements.
Advertising	Advertising Costs associated with advertising are expensed as incurred. Advertising expense was $1.0 million, $0.9 million and $0.8 million for the years ended December 31, 2016, 2015 and 2014, respectively. These amounts are included in other operating expenses in the accompanying consolidated statements of income.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. The Company depreciates furniture, office equipment and computer equipment on the straight-line method over three to seven years. Software costs are depreciated using the straight-line method over three years, while capital leases and leasehold improvements are depreciated using the straight-line method over the shorter of the term of the lease or useful life of the asset. Depreciation expense was $3.3 million, $2.5 million and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. Expenditures for routine maintenance and repairs are charged to expense as incurred. Renewals and betterments which substantially extend the useful life of an asset are capitalized.
Leases	Leases The Company leases all of its facilities under operating lease agreements. These lease agreements typically contain tenant improvement allowances. The Company records tenant improvement allowances as a leasehold improvement asset, included in property and equipment, net in the consolidated balance sheet, and a related deferred rent liability and amortizes them on a straight-line basis over the shorter of the term of the lease or useful life of the asset as additional depreciation expense and a reduction to rent expense, respectively. Lease agreements sometimes contain rent escalation clauses or rent holidays, which are recognized on a straight-line basis over the life of the lease in accordance with ASC 840, Leases
Computer Software Costs	Computer Software Costs Certain costs related to the development or purchases of internal-use software are capitalized. Internal computer software costs that are incurred in the preliminary project stage are expensed as incurred. Direct consulting costs as well as payroll and related costs, which are incurred during the development stage of a project are capitalized and amortized using the straight-line method over estimated useful lives of three years when placed into production.
Goodwill	Goodwill Goodwill of $3.7 million represents the excess of the purchase price over the estimated fair value of the acquired net assets of HFF LP on June 16, 2003. The Company does not amortize goodwill, but evaluates goodwill on at least an annual basis for potential impairment.
Prepaid Compensation Under Employment Agreements	Prepaid Compensation Under Employment Agreements The Company entered into employment agreements with certain employees whereby sign-up bonuses and incentive compensation payments were made during 2016, 2015 and 2014. In most cases, the sign-up bonuses and the incentive compensation are to be repaid to the Company upon voluntary termination by the employee or termination by cause (as defined) by the Company prior to the termination of the employment agreement. The total cost of the employment agreements is being amortized by the straight-line method over the term of the agreements and is included in cost of services on the accompanying consolidated statements of income. As of December 31, 2016 and 2015, there was a total of approximately $6.8 million and $3.0 million of unamortized costs related to HFF LP agreements, respectively.
Transaction Professional Draws	Transaction Professional Draws As part of the Company’s overall compensation program, the Company offers a new transaction professional a draw arrangement which generally lasts until such time as a transaction professional’s pipeline of business is sufficient to allow the transaction professional to earn sustainable commissions. This program is intended to provide the transaction professional with a minimal amount of cash flow to allow adequate time for the transaction professional to develop business relationships. Similar to traditional salaries, the transaction professional draws are paid irrespective of the actual fees generated by the transaction professional. At times these transaction professional draws represent the only form of compensation received by the transaction professional. It is not the Company’s policy to seek collection of unearned transaction professional draws under this arrangement. Transaction professionals are also entitled to earn a commission on closed revenue transactions. Commissions are calculated as the commission that would have been earned by the broker under one of the Company’s commission programs, less any amount previously paid to the transaction professional in the form of a draw. As a result, the Company has concluded that transaction professional draws are economically equivalent to commissions paid and, accordingly, charges them to commissions as incurred. These amounts are included in cost of services on the accompanying consolidated statements of income.
Intangible Assets	Intangible Assets Intangible assets include mortgage servicing rights under agreements with third-party lenders. Servicing rights are capitalized for servicing assumed on loans originated and sold to Freddie Mac with servicing retained based on an allocation of the carrying amount of the loan and the servicing right in proportion to the relative fair values at the date of sale. Servicing rights are recorded at the lower of cost or market. Mortgage servicing rights do not trade in an active, open market and therefore, do not have 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 net 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. The estimate is based on a number of assumptions, 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 cost of servicing, prepayment rates and discount rates are the most sensitive factors affecting the estimated fair value of the servicing rights. Management estimates a market participant’s cost of servicing by analyzing the limited market activity and considering the Company’s own internal servicing costs. Management estimates the discount rate by considering the various risks involved in the future cash flows of the underlying loans which include the cancellation of servicing contracts and the incremental risk related to large loans. Management estimates the prepayment levels of the underlying mortgages by analyzing recent historical experience. Many of the commercial loans being serviced have financial penalties for prepayment or early payoff before the stated maturity date. As a result, the Company has consistently experienced a low level of loan runoff. The estimated value of the servicing rights is impacted by changes in these assumptions.
Transfers and Servicing	The Company applies the provisions of ASC 860, Transfers and Servicing The Company evaluates amortizable intangible assets on an annual basis, or more frequently if circumstances so indicate, for potential impairment. Indicators of impairment monitored by management include a decline in the level of serviced loans.
Earnings Per Share	Earnings Per Share The Company computes net income per share in accordance with ASC 260, Earnings Per Share
Firm and Office Profit Participation Plans and Executive Bonus Plan	Firm and Office Profit Participation Plans and Executive Bonus Plan The Company’s firm and office profit participation plans and effective January 1, 2015, an executive bonus plan (the “Plans”) provide for payments in cash and share-based awards if certain performance metrics are achieved during the year. The expense recorded for these Plans is estimated during the year based on actual results at each interim reporting date and an estimate of future results for the remainder of the year. The Plans allow for payments to be made in both cash and share-based awards, the composition of which is determined in the first calendar quarter of the subsequent year. Cash and share-based awards issued under these Plans are subject to vesting conditions over the subsequent year, such that the total expense measured for these Plans is recorded over the period from the beginning of the performance year through the vesting date. Based on an accounting policy election 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 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 in the performance year 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 Based Compensation	Stock Based Compensation ASC 718, Compensation — Stock Compensation
Income Taxes	Income Taxes HFF, Inc. and Holliday GP are corporations, and the Operating Partnerships are limited partnerships. The Operating Partnerships are subject to state and local income taxes. Income and expenses of the Operating Partnerships have been passed through and are reported on the individual tax returns of the members of HFF Holdings and on the corporate income tax returns of HFF, Inc. and Holliday GP. Income taxes shown on the Company’s consolidated statements of income reflect federal income taxes of the corporation and business and corporate income taxes in various jurisdictions. These taxes are assessed on the net income of the corporations, including its share of the Operating Partnerships’ net income. The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax losses and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized in income in the period of the tax rate change. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Cost of Services	Cost of Services The Company considers personnel expenses directly attributable to providing services to its clients, such as salaries, commissions and transaction bonuses to transaction professionals and analysts, and certain purchased services to be directly attributable to the generation of capital markets services revenue and has classified these expenses as cost of services in the consolidated statements of income.
Segment Reporting	Segment Reporting The Company operates in one reportable segment, the commercial real estate financial intermediary segment and offers debt placement, investment sales, loan sales, loan servicing, equity placement and investment banking services through its 23 offices. The results of each office have been aggregated for segment reporting purposes as they have similar economic characteristics and provide similar services to a similar class of customer.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Treasury Stock	Treasury Stock The Company records common stock purchased for treasury at cost. At the date of subsequent reissue, the treasury stock account is reduced by the cost of such stock on the first-in, first-out basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2016, the Financial Accounting Standards Board (“FASB”) issued Update 2016-19 — “Technical Corrections and Improvements”, which covers a wide range of Topics in the Accounting Standards Codification (ASC). The amendments in this Update represent changes to clarify, correct errors, or make minor improvements to the ASC, making it easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments generally fall into one of the following categories: amendments related to differences between original guidance and the ASC, guidance clarification and reference corrections, simplification, or minor improvements. Most of the amendments in this Update do not require transition guidance and are effective upon issuance of this Update. In March 2016, the 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 expects the impact of the new guidance to be immaterial to the Company’s 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, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” which is required to be adopted by the Company in fiscal year 2018. This ASU supersedes the revenue recognition requirements in FASB ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. The standard implements a five-step model for determining when and how revenue is recognized. Under the model, an entity will be required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We are still evaluating the impact of the new revenue recognition standard. We have identified an implementation team responsible for assessing the impact of ASU No. 2014-09 on our contracts and we will continue our evaluation and assessment on the impact on our financial statements and related disclosures.
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

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Fair Value of Outstanding Stock Options	The following table presents the weighted average assumptions for stock options still outstanding as of December 31, 2016: Dividend yield 0.0 % Expected volatility 72.8 % Risk-free interest rate 2.2 % Expected life (in years) 6.0
Nonvested Share Activity	The following table presents options outstanding for the years ended December 31, 2014, 2015 and 2016 and their related weighted average exercise price, weighted average remaining contractual term and intrinsic value: Options Weighted Weighted Aggregate Balance at January 1, 2014 51,586 $ 8.92 5.0 years $ 925 Granted — — — — Exercised — — — — Forfeited or expired — — — — Balance at December 31, 2014 51,586 $ 8.92 4.0 years $ 1,393 Granted — — — — Exercised (26,594 ) 8.61 2.5 875 Forfeited or expired — — — — Balance at December 31, 2015 24,992 $ 9.25 3.5 years $ 777 Granted — — — — Exercised (5,338 ) 17.41 0.2 159 Forfeited or expired — — — — Balance at December 31, 2016 19,654 $ 7.04 3.1 years $ 595
Restricted Stock Units Award Activity	A summary of restricted stock units (“RSU”) activity and related information during the period was as follows: RSU’s with no RSU’s with graded Total Balance at January 1, 2014 127,288 547,792 675,080 Granted 12,877 940,007 952,884 Dividend on issued RSU’s 7,900 34,208 42,108 Converted to common stock (4,878 ) (621,689 ) (626,567 ) Forfeited or expired — — — Balance at December 31, 2014 143,187 900,318 1,043,505 Granted 9,108 461,597 470,705 Dividend on unissued RSU’s 6,748 42,635 49,383 Converted to common stock (2,793 ) (215,262 ) (218,055 ) Forfeited or expired — (49,689 ) (49,689 ) Balance at December 31, 2015 156,250 1,139,599 1,295,849 Granted 12,372 1,060,434 1,072,806 Dividend on unissued RSU’s 11,576 70,960 82,536 Converted to common stock (2,035 ) (341,519 ) (343,554 ) Forfeited or expired — (26,745 ) (26,745 ) Balance at December 31, 2016 178,163 1,902,729 2,080,892

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consist of the following (in thousands): December 31 2016 2015 Furniture and equipment $ 7,667 $ 7,055 Computer equipment 2,145 1,555 Capitalized software costs 2,043 882 Leasehold improvements 15,813 13,454 Subtotal 27,668 22,946 Less accumulated depreciation and amortization (11,831 ) (9,354 ) $ 15,837 $ 13,592

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The Company’s intangible assets are summarized as follows (in thousands): December 31, 2016 December 31, 2015 Gross Accumulated Net Book Gross Accumulated Net Book Amortizable intangible assets: Mortgage servicing rights $ 64,648 $ (28,034 ) $ 36,614 $ 49,771 $ (22,849 ) $ 26,922 Unamortizable intangible assets: FINRA license — — — 100 — 100 Total intangible assets $ 64,648 $ (28,034 ) $ 36,614 $ 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 years ended December 31, 2016 and 2015 (in thousands): Category 12/31/15 Capitalized Amortized Sold / Transferred 12 /31 /16 Freddie Mac $ 7,074 $ 14,480 $ (2,257 ) $ (3,063 ) $ 16,234 CMBS 16,768 1,059 (3,997 ) 2,417 16,247 Life company 2,729 2,849 (2,011 ) — 3,567 Life company — limited 351 515 (300 ) — 566 Total $ 26,922 $ 18,903 $ (8,565 ) $ (646 ) $ 36,614 Category 12/31/14 Capitalized Amortized Sold / Transferred 12 /31 /15 Freddie Mac $ 5,199 $ 10,470 $ (1,447 ) $ (7,148 ) $ 7,074 CMBS 13,021 1,541 (3,428 ) 5,634 16,768 Life company 1,913 2,357 (1,541 ) — 2,729 Life company — limited 414 192 (255 ) — 351 Total $ 20,547 $ 14,560 $ (6,671 ) $ (1,514 ) $ 26,922
Summary of Estimated Amortization Expense	Estimated amortization expense for the next five years is as follows (in thousands): 2017 $ 8,709 2018 7,176 2019 5,221 2020 4,083 2021 3,562

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2016 (in thousands): December 31, 2016 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Recurring fair value measurements Mortgage notes receivable $ 290,933 $ — $ 290,933 $ — Total recurring fair value measurements $ 290,933 $ — $ 290,933 $ —
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 December 31, 2016 (in thousands): December 31, 2016 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant Nonrecurring fair value measurements Mortgage servicing rights $ 36,614 $ — $ — $ 49,970 Total nonrecurring fair value measurements $ 36,614 $ — $ — $ 49,970 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, 2015 (in thousands): December 31, 2015 Fair Value Measurements Using: Carrying Quoted Prices in Significant Other Significant 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 December 31, 2016 and 2015 are as follows: As of December 31, 2016 2015 Expected life of cash flows 3 years to 11 years 3 years to 10 years Discount rate(1) 10% to 16% 14% to 20% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,920 to $4,997 $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)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Summary of Capital Lease Obligations	Capital lease obligations consist of the following at December 31, 2016 and 2015 (in thousands): December 31 2016 2015 Capital lease obligations $ 707 $ 1,014 Less current maturities 448 500 $ 259 $ 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 May 2019. A summary of future minimum lease payments under capital leases at December 31, 2016 is as follows (in thousands): 2017 $ 448 2018 219 2019 40 2020 — 2021 — $ 707

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 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 (in thousands): 2017 $ 10,371 2018 10,032 2019 9,062 2020 8,116 2021 6,696 Thereafter 12,283 $ 56,560

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 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 (in thousands): Current Deferred Total Year Ended December 31, 2016: Federal $ 28,515 $ 15,772 $ 44,287 State 5,987 762 6,749 $ 34,502 $ 16,534 $ 51,036 Current Deferred Total Year Ended December 31, 2015: Federal $ 35,682 $ 13,131 $ 48,813 State 6,094 3,042 9,136 $ 41,776 $ 16,173 $ 57,949
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 year ended December 31, 2016 and 2015 (dollars in thousands): Dec. 31, Dec. 31, Pre-tax book income $ 128,231 $ 141,912 December 31, 2016 2015 Income Tax expense Rate Rate Taxes computed at federal rate $ 44,881 35.0 % $ 49,669 35.0 % State and local taxes, net of federal tax benefit 5,258 4.1 % 5,251 3.7 % Effect of deferred tax rate change (1,188 ) (0.9 )% 2,621 1.8 % Change in income tax benefit / payable to stockholder 359 0.3 % (750 ) (0.5 )% Return to provision adjustment 196 0.1 % (130 ) (0.1 )% Meals and entertainment 1,484 1.2 % 1,267 0.9 % Other 46 0.0 % 21 0.0 % $ 51,036 39.8 % $ 57,949 40.8 %
Summary of Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities consist of the following at December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Deferred income tax assets: Section 754 election tax basis step-up $ 117,749 $ 129,862 Tenant improvements 3,571 3,118 Restricted stock units 8,564 6,229 Compensation — 4,267 Intangible asset 389 425 Other 932 465 Deferred income tax asset 131,205 144,366 Deferred income tax liabilities: Goodwill (1,272 ) (1,262 ) Servicing rights (15,003 ) (10,827 ) Deferred rent (1,671 ) (1,822 ) Compensation (120 ) — Investment in partnership (582 ) (578 ) Deferred income tax liability (18,648 ) (14,489 ) Net deferred income tax asset $ 112,557 $ 129,877

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2016 and 2015, consists of the following (dollars in thousands) Year Year Net income $ 77,195 $ 83,963 Weighted Average Shares Outstanding: Basic 38,245,682 37,975,997 Diluted 38,843,156 38,449,212
Summary of Calculations of Basic and Diluted Net Income per Share	Three Months Year Three Months Year Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,453 $ 77,195 $ 34,124 $ 83,963 Denominator: Weighted average number of shares of Class A common stock outstanding 38,277,889 38,245,682 38,011,731 37,975,997 Basic net income per share of Class A common stock $ 0.72 $ 2.02 $ 0.90 $ 2.21 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,453 $ 77,195 $ 34,124 $ 83,963 Denominator: Basic weighted average number of shares of Class A common stock 38,277,889 38,245,682 38,011,731 37,975,997 Add — dilutive effect of: Unvested restricted stock units 790,105 586,121 586,889 453,312 Stock options 9,911 11,353 13,040 19,903 Weighted average common shares outstanding — diluted 39,077,905 38,843,156 38,611,660 38,449,212 Diluted earnings per share of Class A common stock $ 0.70 $ 1.99 $ 0.88 $ 2.18

Selected Quarterly Financial 35

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (unaudited)	Quarter Ended 2016 March 31 June 30 September 30 December 31 Net revenue $ 117,530 $ 117,665 $ 126,535 $ 155,696 Operating income 16,741 17,585 24,261 37,186 Interest and other income, net 6,317 8,739 9,053 9,416 Increase in payable under the tax receivable agreement — — (1,025 ) — Net income 13,876 15,846 20,020 27,453 Per share data (1) Basic earnings per share $ 0.36 $ 0.41 $ 0.52 $ 0.72 Diluted earnings per share $ 0.36 $ 0.41 $ 0.51 $ 0.70 Quarter Ended 2015 March 31 June 30 September 30 December 31 Net revenue $ 94,271 $ 124,992 $ 113,685 $ 169,042 Operating income 11,236 25,701 23,866 46,970 Interest and other income, net 5,541 9,476 7,989 9,037 Decrease in payable under the tax receivable agreement 1,091 — 1,052 — Net income 9,409 21,174 19,256 34,124 Per share data (1) Basic earnings per share $ 0.25 $ 0.56 $ 0.51 $ 0.90 Diluted earnings per share $ 0.25 $ 0.55 $ 0.50 $ 0.88 (1) Earnings per share were computed independently for each of the periods presented; therefore, the sum of the earnings per share amounts for the quarters may not equal the total for the year.

Organization and Basis of Pre36

Organization and Basis of Presentation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 05, 2007USD ($)shares	Dec. 31, 2016Officeshares	Dec. 31, 2015shares	Feb. 21, 2007$ / sharesshares	Jan. 30, 2007$ / sharesshares	Nov. 09, 2006shares
Class of Stock [Line Items]
Number of offices | Office		23
UNITED STATES
Class of Stock [Line Items]
Number of offices | Office		23
London, United Kingdom [Member]
Class of Stock [Line Items]
Number of offices | Office		1
IPO [Member]
Class of Stock [Line Items]
Percentage of shares purchase from Partners	39.00%	45.00%		6.00%
Underwriting commission | $	$ 18
Offering expenses | $	3
Net proceeds from overallotment | $	35.9
Underwriting commissions and other expenses | $	2.7
Repayment of outstanding indebtedness | $	56.3
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		38,463,448	38,351,367
Class A Common Stock [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Sale of common stock, shares		38,463,448	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
Sale of common stock, value | $	$ 236.4
Sale of common stock, shares	14,300,000
Common Class B [Member] | IPO [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Sale of common stock, shares		1

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)InstitutionSegmentOffice	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 16, 2003USD ($)
Summary Of Significant Accounting Policies [Line Items]
Ownership interest of Holliday GP	100.00%
Cash and cash equivalents invested into institution | Institution	2
Advertising expenses	$ 1,000	$ 900	$ 800
Depreciation expense	$ 3,300	2,500	$ 2,100
Estimated useful lives	3 years
Excess of the purchase price over the estimated fair value	$ 3,712	3,712		$ 3,700
Unamortized costs of agreements	$ 6,800	$ 3,000
Number of reportable segment | Segment	1
Number of offices | Office	23
Prior to January 1, 2015 [Member]
Summary Of Significant Accounting Policies [Line Items]
Vesting period	26 months
Effective January 1, 2015 [Member]
Summary Of Significant Accounting Policies [Line Items]
Vesting period	50 months
Capitalized Software Costs [Member]
Summary Of Significant Accounting Policies [Line Items]
Depreciation on Property and equipment	3 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Depreciation on Property and equipment	3 years
Range of office lease terms	5 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Depreciation on Property and equipment	7 years
Range of office lease terms	10 years

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 14, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation cost		$ 12,310	$ 8,579	$ 9,820
Unrecognized compensation cost related to share based awards		$ 28,700
Options, Vested		0	0	0
Options, Granted		0	0	0
Options, Forfeited		0	0	0
Options, Expired		0	0	0
Restricted stock units outstanding		2,080,892
Restricted stock units vested period		2 years 6 months
Restricted stock units, Granted		1,072,806	470,705	952,884
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units		$ 5,900	$ 5,100
Office and Profit Participation Plans [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan vesting period		3 years
2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock available under term plan		3,500,000
Shares previous not issued		109,524
2016 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock available under term plan		3,859,524
Subsequent Event [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units	$ 7,400
Restricted stock units vested period	5 years
Restricted stock units, Granted	249,998
Restricted stock units vested percentage	20.00%
Subsequent Event [Member] | Office and Profit Participation Plans [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units	$ 14,000
Restricted stock units, Granted	472,088

Stock Compensation - Weighted A

Stock Compensation - Weighted Average Fair Value of Outstanding Stock Options (Detail)	12 Months Ended
	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	0.00%
Expected volatility	72.80%
Risk-free interest rate	2.20%
Expected life (in years)	6 years

Stock Compensation - Schedule o

Stock Compensation - Schedule of Options Outstanding and Related Weighted Average Exercise Price, Weighted Average Remaining Contractual Term and Intrinsic Value (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Arrangements with Employees and Nonemployees [Abstract]
Options, Beginning balance	24,992	51,586	51,586
Options, Granted	0	0	0
Options, Exercised	(5,338)	(26,594)
Options, Forfeitures or expired	0	0	0
Options, Ending balance	19,654	24,992	51,586	51,586
Weighted Average Exercise Price, Granted	$ 0	$ 0	$ 0
Weighted Average Exercise Price, Exercised	17.41	8.61
Weighted Average Exercise Price, Forfeited or expired	0	0	0
Weighted Average Exercise Price	$ 7.04	$ 9.25	$ 8.92	$ 8.92
Weighted Average Remaining Contractual Term, Exercised	2 months 12 days	2 years 6 months
Weighted Average Remaining Contractual Term, Beginning balance	3 years 1 month 6 days	3 years 6 months	4 years	5 years
Average Intrinsic Value, Granted	$ 0	$ 0	$ 0
Average Intrinsic Value, Exercised	159	875
Average Intrinsic Value, Forfeited or expired	0	0	0
Average Intrinsic Value	$ 595	$ 777	$ 1,393	$ 925

Stock Compensation - Restricted

Stock Compensation - Restricted Stock Units Award Activity (Detail) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Summary Of Restricted Stock Unit Activity [Line Items]
Restricted stock units outstanding, Beginning	1,295,849	1,043,505	675,080
Restricted stock units, Granted	1,072,806	470,705	952,884
Dividend on issued RSU's			42,108
Dividend on unissued RSU's	82,536	49,383
Restricted stock units outstanding, Converted to common stock	(343,554)	(218,055)	(626,567)
Restricted Stock units, Forfeited or expired	(26,745)	(49,689)
Restricted stock units outstanding, Ending	2,080,892	1,295,849	1,043,505
RSU's with No Vesting Period [Member]
Schedule Of Summary Of Restricted Stock Unit Activity [Line Items]
Restricted stock units outstanding, Beginning	156,250	143,187	127,288
Restricted stock units, Granted	12,372	9,108	12,877
Dividend on issued RSU's			7,900
Dividend on unissued RSU's	11,576	6,748
Restricted stock units outstanding, Converted to common stock	(2,035)	(2,793)	(4,878)
Restricted stock units outstanding, Ending	178,163	156,250	143,187
RSU's with Graded or Cliff Vesting Period [Member]
Schedule Of Summary Of Restricted Stock Unit Activity [Line Items]
Restricted stock units outstanding, Beginning	1,139,599	900,318	547,792
Restricted stock units, Granted	1,060,434	461,597	940,007
Dividend on issued RSU's			34,208
Dividend on unissued RSU's	70,960	42,635
Restricted stock units outstanding, Converted to common stock	(341,519)	(215,262)	(621,689)
Restricted Stock units, Forfeited or expired	(26,745)	(49,689)
Restricted stock units outstanding, Ending	1,902,729	1,139,599	900,318

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 27,668	$ 22,946
Less accumulated depreciation and amortization	(11,831)	(9,354)
Property, plant and equipment, net	15,837	13,592
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	7,667	7,055
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	2,145	1,555
Capitalized Software Costs [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	2,043	882
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 15,813	$ 13,454

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Capital leased office equipment recorded in furniture and equipment	$ 27,668	$ 22,946
Accumulated depreciation and amortization of capital leased office equipment included in consolidated statements	11,831	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	$ 1,200	$ 800

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	$ 64,648	$ 49,871
Accumulated Amortization	(28,034)	(22,849)
Total intangible assets Net Book Value	36,600	26,900
Total intangible assets Net Book Value	36,614	27,022
FINRA License [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		100
Accumulated Amortization	0	0
Total intangible assets Net Book Value		100
Mortgage Servicing Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	64,648	49,771
Accumulated Amortization	(28,034)	(22,849)
Total intangible assets Net Book Value	$ 36,614	$ 26,922

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Commercial loans serviced by the Company	$ 58,000,000	$ 48,700,000	$ 39,300,000
Servicing fees and interest earned	23,200	20,000	17,000
Mortgage servicing rights	36,600	26,900
Loan served for mortgage servicing rights	56,500,000	45,200,000
Gain on sale of cashiering portion	2,000	4,600
Amortization expenses	$ 8,565	$ 6,678	5,769
Weighted-average life of mortgage servicing rights	6 years 6 months	6 years 7 months 6 days
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights retained upon sale	$ 14,500	$ 10,500
Originated loans, net	4,400,000	4,800,000
Amortization expenses	8,600	6,700	$ 5,800
Freddie Mac [Member] | Interest and Other Income, Net [Member]
Finite-Lived Intangible Assets [Line Items]
Securitization compensation received	5,500	7,400
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	4,400	4,400
Initial consideration, net	10,700,000	10,700,000
Life Company Tranches [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration	4,100	4,100
Initial consideration, net	$ 9,200,000	$ 9,200,000

Intangible Assets - Summary o46

Intangible Assets - Summary of Carrying and Fair Value of Mortgage Servicing Rights (Detail) - Mortgage Servicing Rights [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Opening Balance	$ 26,922	$ 20,547
Capitalized	18,903	14,560
Amortized	(8,565)	(6,671)
Sold/Transferred	(646)	(1,514)
Closing Balance	36,614	26,922
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	7,074	5,199
Capitalized	14,480	10,470
Amortized	(2,257)	(1,447)
Sold/Transferred	(3,063)	(7,148)
Closing Balance	16,234	7,074
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	16,768	13,021
Capitalized	1,059	1,541
Amortized	(3,997)	(3,428)
Sold/Transferred	2,417	5,634
Closing Balance	16,247	16,768
Life Company [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	2,729	1,913
Capitalized	2,849	2,357
Amortized	(2,011)	(1,541)
Closing Balance	3,567	2,729
Life Company - Limited [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	351	414
Capitalized	515	192
Amortized	(300)	(255)
Closing Balance	$ 566	$ 351

Intangible Assets - Summary o47

Intangible Assets - Summary of Estimated Amortization Expense (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2,017	$ 8,709
2,018	7,176
2,019	5,221
2,020	4,083
2,021	$ 3,562

Fair Value Measurement - Financ

Fair Value Measurement - Financial Assets Accounted at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	$ 290,933	$ 318,951
Total recurring fair value measurements	290,933
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	290,933	$ 318,951
Total recurring fair value measurements	$ 290,933

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 - Fina50

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	$ 290,933	$ 318,951
Mortgage servicing rights	36,614	26,922
Total nonrecurring fair value measurements	36,614	345,873
Mortgage servicing rights	36,600	26,900
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	290,933	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	49,970	35,832
Total nonrecurring fair value measurements	$ 49,970	$ 35,832

Fair Value Measurement - Signif

Fair Value Measurement - Significant Assumptions Utilized to Value Servicing Rights (Detail) - USD ($)	12 Months Ended
	Dec. 31, 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	10.00%	14.00%
Prepayment rate	0.00%	0.00%
Cost of service per loan	$ 1,920	$ 1,600
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected life of cash flows	11 years	10 years
Discount rate	16.00%	20.00%
Prepayment rate	8.00%	8.00%
Inflation rate	2.00%	2.00%
Cost of service per loan	$ 4,997	$ 4,033

Capital Lease Obligations - Sum

Capital Lease Obligations - Summary of Capital Lease Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Capital Lease Obligations [Abstract]
Capital lease obligations	$ 707	$ 1,014
Less current maturities	448	500
Capital lease obligations, non current maturities	$ 259	$ 514

Capital Lease Obligation - Addi

Capital Lease Obligation - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
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	Dec. 31, 2016USD ($)
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,017	$ 448
2,018	219
2,019	40
2,020	0
2,021	0
Total	$ 707

Warehouse Line of Credit - Addi

Warehouse Line of Credit - Additional Information (Detail) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)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
Line of credit expiration date	Feb. 15, 2017
Warehouse line of credit outstanding amount		$ 291	$ 318.6
Line of credit interest rate at the end of the period		0.62%	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 (0.62% and 0.24% at December 31, 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	$ 450
Committed financing arrangement	2,000
PNC Bank, N.A. [Member] | Temporary Increase To Line Of Credit [Member]
Line of Credit Facility [Line Items]
Maximum uncommitted financing arrangement	$ 550
Maximum uncommitted financing arrangement expiration period	45 days
Frequency of temporary increases	4
Huntington Bank [Member]
Line of Credit Facility [Line Items]
Uncommitted financing arrangement	$ 125	$ 125
Huntington Bank [Member] | Temporary Increase To Line Of Credit [Member]
Line of Credit Facility [Line Items]
Maximum uncommitted financing arrangement	$ 150
Maximum uncommitted financing arrangement expiration period	30 days
Frequency of temporary increases	3

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leased Assets [Line Items]
Total rental expense	$ 11.7	$ 10.1	$ 7.8
Lease expiration date	2,019
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease terms	11 years
Reduced operating lease terms	8 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	Dec. 31, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,017	$ 10,371
2,018	10,032
2,019	9,062
2,020	8,116
2,021	6,696
Thereafter	12,283
Total rental payment due, net	$ 56,560

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Compensation after tax contribution	50.00%
Employer matching contributions percentage	50.00%
Percentage of deferred and salary contribution	6.00%
Maximum contribution of salary after tax	$ 5,000
Expense for plan	$ 2,700,000	$ 2,400,000	$ 2,100,000

Servicing - Additional Informat

Servicing - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Transfers and Servicing [Abstract]
Unpaid principal balance of servicing portfolio of commercial real estate loan	$ 58,000	$ 48,700	$ 39,300
Funds held in escrow	$ 182.3	$ 177.5	$ 240.3

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense Includes Current and Deferred Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current Federal Tax	$ 28,515	$ 35,682
State Current Tax	5,987	6,094
Federal and State Current Total	34,502	41,776
Federal Deferred Tax	15,772	13,131
State Deferred Tax	762	3,042
Federal and State Deferred Total	16,534	16,173	$ 15,049
Federal Current and Deferred Total	44,287	48,813
State Current and Deferred Total	6,749	9,136
Income tax expense	$ 51,036	$ 57,949	$ 42,226

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation Between Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Pre-tax book income	$ 128,231	$ 141,912	$ 103,512

Income Taxes - Summary of Inc62

Income Taxes - Summary of Income Tax Expense Allocation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Taxes computed at federal rate	$ 44,881	$ 49,669
State and local taxes, net of federal tax benefit	5,258	5,251
Effect of deferred tax rate change	(1,188)	2,621
Change in income tax benefit / payable to stockholder	359	(750)
Return to provision adjustment	196	(130)
Meals and entertainment	1,484	1,267
Other	46	21
Income tax expense	$ 51,036	$ 57,949	$ 42,226
Taxes computed at federal rate, Percentage	35.00%	35.00%
State and local taxes, net of federal tax benefit, Percentage	4.10%	3.70%
Effect of deferred tax rate change, Percentage	(0.90%)	1.80%
Change in income tax benefit / payable to stockholder, Percentage	0.30%	(0.50%)
Return to provision adjustment, Percentage	0.10%	(0.10%)
Meals and entertainment, Percentage	1.20%	0.90%
Other, Percentage	0.00%	0.00%
Income tax expense, Total Percentage	39.80%	40.80%

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred income tax assets:
Section 754 election tax basis step-up	$ 117,749	$ 129,862
Tenant improvements	3,571	3,118
Restricted stock units	8,564	6,229
Compensation		4,267
Intangible asset	389	425
Other	932	465
Deferred income tax asset	131,205	144,366
Deferred income tax liabilities:
Goodwill	(1,272)	(1,262)
Servicing rights	(15,003)	(10,827)
Deferred rent	(1,671)	(1,822)
Compensation	(120)
Investment in partnership	(582)	(578)
Deferred income tax liability	(18,648)	(14,489)
Net deferred income tax asset	$ 112,557	$ 129,877

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended			12 Months Ended
	Aug. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Income Taxes [Line Items]
Deferred annual pre-tax benefit					$ 34,600,000
Operating loss carried back date					2 years
Operating loss carried forward date					20 years
Assumed revenue generated in each year					$ 318,000,000
Deferred anticipated pre-tax benefit					36,400,000
Interest or penalties					0	$ 0
Future tax benefits					$ 117,700,000
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					$ 111,400,000
Increase (Decrease) in deferred tax assets					1,200,000	(2,600,000)
Increase (decrease) in payable under tax receivable agreement		$ 1,025,000	$ (1,052,000)	$ (1,091,000)	(1,025,000)	2,143,000	$ 800,000
Tax benefit relating to the Section 754 basis step-up					(51,036,000)	(57,949,000)	(42,226,000)
Payments under the tax receivable agreement					$ 10,824,000	$ 10,822,000	10,660,000
HFF Holdings [Member]
Schedule Of Income Taxes [Line Items]
Amount of cash savings to HFF holdings					85.00%	85.00%
Increase (decrease) in payable under tax receivable agreement					$ 1,000,000	$ (2,100,000)
Tax benefit relating to the Section 754 basis step-up						$ 12,700,000	$ 12,600,000
Payments under the tax receivable agreement	$ 10,800,000	$ 10,800,000	$ 10,800,000		10,800,000
Term of tax receivable agreement in aggregate amount paid					111,400,000
Anticipated amount to be paid under tax receivable agreement to HFF Holdings 2017					11,300,000
Federal [Member]
Schedule Of Income Taxes [Line Items]
Net operating loss carry forwards					$ 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. 21, 2017

Feb. 14, 2017

Feb. 09, 2017

Jan. 24, 2017

Feb. 19, 2016

Feb. 08, 2016

Jan. 22, 2016

Feb. 13, 2015

Feb. 02, 2015

Jan. 20, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Class of Stock [Line Items]

Aggregate dividend paid

$ 68,362

$ 67,821

$ 68,166

Restricted stock granted for unvested and vested but not issued

1,072,806

470,705

952,884

Restricted Stock [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Restricted stock granted for unvested and vested but not issued

249,998

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

38,463,448

38,351,367

Class A Common Stock [Member] | Restricted Stock [Member]

Class of Stock [Line Items]

Restricted stock granted for unvested and vested but not issued

82,536

49,383

Class A Common Stock [Member] | Restricted Stock [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Restricted stock granted for unvested and vested but not issued

1.57

Restricted stock granted for unvested and vested but not issued

95,648

Class A Common Stock [Member] | HFF Holdings [Member]

Class of Stock [Line Items]

Common stock, shares issued

38,463,448

38,351,367

Special cash dividend

$ 1.80

$ 1.80

Dividends payable, date of record

Feb. 8, 2016

Feb. 2, 2015

Dividends payable, declaration date

Jan. 22, 2016

Jan. 20, 2015

Dividends payable, payment date

Feb. 19, 2016

Feb. 13, 2015

Aggregate dividend paid

$ 68,400

$ 67,800

Class A Common Stock [Member] | HFF Holdings [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Special cash dividend

$ 1.57

Dividends payable, date of record

Feb. 9, 2017

Dividends payable, declaration date

Jan. 24, 2017

Dividends payable, payment date

Feb. 21, 2017

Aggregate dividend paid

$ 60,000

Earnings Per Share - Summary of

Earnings Per Share - Summary of Net Income and Weighted Average Shares Outstanding (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net income	$ 27,453	$ 20,020	$ 15,846	$ 13,876	$ 34,124	$ 19,256	$ 21,174	$ 9,409	$ 77,195	$ 83,963	$ 61,286
Weighted Average Shares Outstanding:
Basic									38,245,682	37,975,997	37,758,519
Diluted									38,843,156	38,449,212	37,982,351

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock [Member]
Earnings Per Share [Line Items]
Stock units and stock options included in weighted average shares	193,946	165,534	193,946	165,534
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 68

Earnings Per Share - Summary of Calculations of Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net income	$ 27,453		$ 20,020		$ 15,846		$ 13,876		$ 34,124		$ 19,256		$ 21,174		$ 9,409		$ 77,195	$ 83,963	$ 61,286
Denominator:
Basic weighted average number of shares of Class A common stock																	38,245,682	37,975,997	37,758,519
Add-dilutive effect of:
Weighted average common shares outstanding-diluted																	38,843,156	38,449,212	37,982,351
Basic net income per share of Class A common stock	$ 0.72	[1]	$ 0.52	[1]	$ 0.41	[1]	$ 0.36	[1]	$ 0.90	[1]	$ 0.51	[1]	$ 0.56	[1]	$ 0.25	[1]	$ 2.02	$ 2.21	$ 1.62
Diluted earnings per share of Class A common stock	$ 0.70	[1]	$ 0.51	[1]	$ 0.41	[1]	$ 0.36	[1]	$ 0.88	[1]	$ 0.50	[1]	$ 0.55	[1]	$ 0.25	[1]	$ 1.99	$ 2.18	$ 1.61
Basic Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 27,453								$ 34,124								$ 77,195	$ 83,963
Denominator:
Basic weighted average number of shares of Class A common stock	38,277,889								38,011,731								38,245,682	37,975,997
Add-dilutive effect of:
Basic net income per share of Class A common stock	$ 0.72								$ 0.90								$ 2.02	$ 2.21
Diluted Earnings Per Share of Class A Common Stock [Member] | Class A Common Stock [Member]
Numerator:
Net income	$ 27,453								$ 34,124								$ 77,195	$ 83,963
Denominator:
Basic weighted average number of shares of Class A common stock	38,277,889								38,011,731								38,245,682	37,975,997
Add-dilutive effect of:
Unvested restricted stock units	790,105								586,889								586,121	453,312
Stock options	9,911								13,040								11,353	19,903
Weighted average common shares outstanding-diluted	39,077,905								38,611,660								38,843,156	38,449,212
Diluted earnings per share of Class A common stock	$ 0.70								$ 0.88								$ 1.99	$ 2.18
[1]	Earnings per share were computed independently for each of the periods presented; therefore, the sum of the earnings per share amounts for the quarters may not equal the total for the year.

Earnings Per Share - Summary 69

Earnings Per Share - Summary of Calculations of Basic and Diluted Net Income per Share (Parenthetical) (Detail) - shares	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock units and stock options included in weighted average shares	193,946	165,534	193,946	165,534
Stock Options [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock units and stock options included in weighted average shares	0	0	0	0

Concentrations - Additional Inf

Concentrations - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
TEXAS
Principal Transaction Revenue [Line Items]
Capital Market Service Revenue	19.00%	22.90%
CALIFORNIA
Principal Transaction Revenue [Line Items]
Capital Market Service Revenue	13.80%	13.10%
FLORIDA
Principal Transaction Revenue [Line Items]
Capital Market Service Revenue	8.50%	10.20%
NEW YORK
Principal Transaction Revenue [Line Items]
Capital Market Service Revenue	6.00%	6.30%
Other Region [Member]
Principal Transaction Revenue [Line Items]
Capital Market Service Revenue	5.00%	5.20%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Payments under the tax receivable agreement				$ 10,824	$ 10,822	$ 10,660
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%
Payments under the tax receivable agreement	$ 10,800	$ 10,800	$ 10,800	$ 10,800
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		800	900
Gibson [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		800	800
Thornton [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		700	700
Fowler [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		200	400
Galloway [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement			200
Lawton [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		400	400
Sansosti and de Zarraga [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		200	200
Tepedino [Member]
Related Party Transaction [Line Items]
Payments under the tax receivable agreement		$ 200	$ 200

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary Of Commitments And Contingent Liabilities [Line Items]
Payment to HFF holding	$ 10,800	$ 10,800
Actual cash savings realized by company		85.00%	85.00%
Liability to HFF Holdings	18,648	$ 14,489
Anticipated payment to HFF holding	11,300
Accrued additional compensation to newly hired transaction professionals	$ 100	$ 5,800
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	2,017
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	$ 111,400	$ 121,200

Selected Quarterly Financial 73

Selected Quarterly Financial Data - Selected Quarterly Financial Data (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Net revenue	$ 155,696		$ 126,535		$ 117,665		$ 117,530		$ 169,042		$ 113,685		$ 124,992		$ 94,271		$ 517,426	$ 501,990	$ 425,918
Operating income	37,186		24,261		17,585		16,741		46,970		23,866		25,701		11,236		95,773	107,773	84,827
Interest and other income, net	9,416		9,053		8,739		6,317		9,037		7,989		9,476		5,541		33,525	32,043	17,926
(Increase) decrease in payable under the tax receivable agreement			(1,025)								1,052				1,091		1,025	(2,143)	(800)
Net income	$ 27,453		$ 20,020		$ 15,846		$ 13,876		$ 34,124		$ 19,256		$ 21,174		$ 9,409		$ 77,195	$ 83,963	$ 61,286
Per share data
Basic earnings per share	$ 0.72	[1]	$ 0.52	[1]	$ 0.41	[1]	$ 0.36	[1]	$ 0.90	[1]	$ 0.51	[1]	$ 0.56	[1]	$ 0.25	[1]	$ 2.02	$ 2.21	$ 1.62
Diluted earnings per share	$ 0.70	[1]	$ 0.51	[1]	$ 0.41	[1]	$ 0.36	[1]	$ 0.88	[1]	$ 0.50	[1]	$ 0.55	[1]	$ 0.25	[1]	$ 1.99	$ 2.18	$ 1.61
[1]	Earnings per share were computed independently for each of the periods presented; therefore, the sum of the earnings per share amounts for the quarters may not equal the total for the year.