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MORTGAGE SERVICING RIGHTS (Tables)

12 Months Ended

Dec. 31, 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 years ended December 31, 2023 and 2022:  

Mortgage Servicing Rights			December 31, 2023						December 31, 2022
			(dollars in thousands)
Fair value, beginning of period			$	1,748,209					$	544,562
Purchases (1)			397,585						1,009,351
Transfers			—						82,650
Sales			—						(9,084)
Change in fair value due to
Changes in valuation inputs or assumptions (2)			92,374						205,463
Other changes, including realization of expected cash flows			(115,972)						(84,733)
Fair value, end of period			$	2,122,196					$	1,748,209
(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						December 31, 2022
						(dollars in thousands)
Beginning balance						$	69,316
Purchases (1)						4,860
Transfers						(82,650)
Gain (loss) included in net income						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.

X

- 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

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X

- References

No definition available.

+ Details

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