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MORTGAGE SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 30, 2023

Transfers and Servicing [Abstract]

Presentation of Activity Related to MSR

The following tables present activity related to MSR and Interests in MSR for the three and nine months ended September 30, 2023 and 2022:  

Mortgage Servicing Rights			Three Months Ended												Nine Months Ended
			September 30, 2023						September 30, 2022						September 30, 2023						September 30, 2022
			(dollars in thousands)
Fair value, beginning of period			$	2,018,896					$	1,421,420					$	1,748,209					$	544,562
Purchases (1)			185,299						182,784						399,450						866,767
Transfers			—						82,650						—						82,650
Sales			—						—						—						(9,076)
Change in fair value due to:
Changes in valuation inputs or assumptions (2)			62,315						43,274						172,845						281,843
Other changes, including realization of expected cash flows			(31,697)						(24,874)						(85,691)						(61,492)
Fair value, end of period			$	2,234,813					$	1,705,254					$	2,234,813					$	1,705,254
(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						Three Months Ended												Nine Months Ended
									September 30, 2022												September 30, 2022
						(dollars in thousands)
Beginning balance									$	83,622											$	69,316
Purchases (1)									—												4,860
Transfers									(82,650)												(82,650)
Gain (loss) included in net income									(972)												8,474
Ending balance									$	—											$	—
(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
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

+ Details

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- References

No definition available.

+ Details

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