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MORTGAGE SERVICING RIGHTS (Tables)

6 Months Ended

Jun. 30, 2021

Transfers and Servicing [Abstract]

Presentation of Activity Related to MSR

The following tables presents activity related to MSR and Interests in MSR for the three and six months ended June 30, 2021 and 2020:  

			Three Months Ended												Six Months Ended
Mortgage Servicing Rights			June 30, 2021						June 30, 2020						June 30, 2021						June 30, 2020
			(dollars in thousands)
Fair value, beginning of period			$	113,080					$	280,558					$	100,895					$	378,078
Purchases (1)			98,983						—						98,983						—
Sales			(376)						—						(376)						—
Change in fair value due to:
Changes in valuation inputs or assumptions (2)			4,621						(27,629)						32,296						(106,854)
Other changes, including realization of expected cash flows			(13,692)						(25,529)						(29,182)						(43,824)
Fair value, end of period			$	202,616					$	227,400					$	202,616					$	227,400
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable. (2) Principally represents changes in discount rates and prepayment speed inputs used in valuation model, primarily due to changes in interest rates.

Interests in MSR			Six Months Ended
			June 30, 2021
			(dollars in thousands)
Beginning balance			$	—
Purchases (1)			47,098
Gain (loss) included in net income			1,937
Ending balance June 30, 2021			$	49,035
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.

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- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 50
-Section 50
-Paragraph 3
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125521744&loc=d3e122625-111746

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- References

No definition available.

+ Details

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