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Mortgage Servicing Rights (Tables) | 12 Months Ended
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Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract] |
Schedule of Changes in Servicing Assets | The following table presents changes in the servicing asset during the year ended December 31, 2023, 2022 and 2021: Servicing Asset
dollars in millions | Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Beginning balance | $ | 25 |  |  | $ | 23 |  |  | $ | 18 |
Servicing rights originated | 4 |  |  | 4 |  |  | 11 |
Servicing rights obtained in CIT Merger | — |  |  | 3 |  |  | — |
Amortization | (4) |  |  | (6) |  |  | (9) |
Valuation allowance benefit | — |  |  | 1 |  |  | 3 |
Ending balance | $ | 25 |  |  | $ | 25 |  |  | $ | 23 |
Schedule of Activity in Servicing Asset Valuation Allowance | The following table presents the activity in the servicing asset valuation allowance: Servicing Asset Valuation Allowance
dollars in millions | Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Beginning balance | $ | — |  |  | $ | 1 |  |  | $ | 4 |
Valuation allowance benefit | — |  |  | (1) |  |  | (3) |
Ending balance | $ | — |  |  | $ | — |  |  | $ | 1 |
Schedule of Servicing Asset Key Economic Assumptions | MSRs valuations are performed using a pooling methodology where loans with similar risk characteristics are grouped together and evaluated using discounted cash flows to estimate the present value of future earnings. Key economic assumptions used to value MSRs were as follows: MSRs Valuation Assumptions
| December 31, 2023 |  | December 31, 2022
Discount rate | 10.20 | % |  | 9.62 | %
Weighted average constant prepayment rate | 7.66 | % |  | 6.76 | %
Weighted average cost to service a loan | $ | 80 |  |  | $ | 81 |

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- Definition Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481229/860-50-50-4 + Details
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- Definition Tabular disclosure of the activity by class in any valuation allowance for impairment of recognized servicing assets - including beginning and ending balances, aggregate additions charged and recoveries credited to operations, and aggregate write-downs charged against allowance. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481229/860-50-50-4 + Details
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