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Residential Mortgage Servicing Rights
 6 Months Ended
Jun. 30, 2023
Transfers and Servicing [Abstract]  
Residential Mortgage Servicing Rights Residential Mortgage Servicing Rights
The Company measures its MSR asset at fair value with changes in fair value reported in residential mortgage banking revenue, net. The following table presents the changes in the Company's residential MSR for the periods indicated: 
Three Months EndedSix Months Ended
 (in thousands) June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Balance, beginning of period$178,800 $165,807 $185,017 $123,615 
Additions for new MSR capitalized1,168 7,813 2,769 15,203 
Changes in fair value:    
Changes due to collection/realization of expected cash flows over time(4,797)(4,961)(9,678)(10,308)
Changes due to valuation inputs or assumptions (1)
(2,242)10,899 (5,179)51,048 
Balance, end of period$172,929 $179,558 $172,929 $179,558 
(1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates.

Information related to the serviced loan portfolio as of the dates presented is as follows: 
(dollars in thousands)June 30, 2023December 31, 2022
Balance of loans serviced for others$12,726,615 $13,020,189 
MSR as a percentage of serviced loans1.36 %1.42 %
 
The amount of contractually specified servicing fees, late fees, and ancillary fees earned, which is recorded in residential mortgage banking revenue, was $9.2 million and $18.6 million for the three and six months ended June 30, 2023, respectively, as compared to $9.5 million and $18.6 million for the three and six months ended June 30, 2022, respectively.
In July 2023, the Company signed an indication of interest to sell the mortgage servicing rights of approximately $4.5 billion of the MSR portfolio, which relates to the non-relationship component of the serviced loan portfolio. The transaction is expected to close in the second half of 2023; however as of June 30, 2023, the MSR assets were marked to the sale price which resulted in a decrease in valuation