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MORTGAGE SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2024

Transfers and Servicing [Abstract]

Presentation of Activity Related to MSR

The following tables present activity related to MSR for the three months ended March 31, 2024 and 2023:  

Mortgage Servicing Rights			Three Months Ended
			March 31, 2024						March 31, 2023
			(dollars in thousands)
Fair value, beginning of period			$	2,122,196					$	1,748,209
Purchases (1)			515,731						36,630
Change in fair value due to:
Changes in valuation inputs or assumptions (2)			46,136						30,207
Other changes, including realization of expected cash flows			(32,784)						(24,066)
Fair value, end of period			$	2,651,279					$	1,790,980
(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.

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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

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- References

No definition available.

+ Details

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