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Capitalized Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2023

Transfers and Servicing [Abstract]

Summary of Capitalized MSR Activity

A summary of our capitalized MSR activity is as follows (in thousands):


			Three Months Ended June 30, 2023																		Six Months Ended June 30, 2023
			Originated						Acquired						Total						Originated						Acquired						Total
Beginning balance			$	383,636					$	12,998					$	396,634					$	386,878					$	14,593					$	401,471
Additions			18,980						—						18,980						32,866						—						32,866
Amortization			(14,592)						(1,013)						(15,605)						(28,878)						(2,142)						(31,020)
Write-downs and payoffs			(4,757)						(842)						(5,599)						(7,599)						(1,308)						(8,907)
Ending balance			$	383,267					$	11,143					$	394,410					$	383,267					$	11,143					$	394,410

			Three Months Ended June 30, 2022																		Six Months Ended June 30, 2022
Beginning balance			$	398,061					$	23,975					$	422,036					$	395,573					$	27,161					$	422,734
Additions			17,123						—						17,123						44,095						—						44,095
Amortization			(13,066)						(1,713)						(14,779)						(25,993)						(3,757)						(29,750)
Write-downs and payoffs			(10,721)						(2,125)						(12,846)						(22,278)						(3,267)						(25,545)
Ending balance			$	391,397					$	20,137					$	411,534					$	391,397					$	20,137					$	411,534

Summary of Expected Amortization of Capitalized MSRs

The expected amortization of capitalized MSRs recorded at June 30, 2023 is as follows (in thousands):


Year						Amortization
2023 (six months ending 12/31/2023)						$	31,488
2024						61,975
2025						58,534
2026						52,448
2027						47,512
2028						41,645
Thereafter						100,808
Total						$	394,410