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Capitalized Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2024

Transfers and Servicing [Abstract]

Summary of Capitalized MSR Activity

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

			Three Months Ended March 31, 2024
			Originated						Acquired						Total
Beginning balance			$	382,582					$	8,672					$	391,254
Additions			12,684						—						12,684
Amortization			(15,821)						(810)						(16,631)
Write-downs and payoffs			(1,698)						(89)						(1,787)
Ending balance			$	377,747					$	7,773					$	385,520
			Three Months Ended March 31, 2023
Beginning balance			$	386,878					$	14,593					$	401,471
Additions			13,886						—						13,886
Amortization			(14,287)						(1,129)						(15,416)
Write-downs and payoffs			(2,841)						(466)						(3,307)
Ending balance			$	383,636					$	12,998					$	396,634

Summary of Expected Amortization of Capitalized MSRs

The expected amortization of capitalized MSRs recorded at March 31, 2024 is as follows (in thousands):

Year						Amortization
2024 (nine months ending 12/31/2024)						$	50,032
2025						63,963
2026						58,488
2027						53,971
2028						46,721
Thereafter						112,345
Total						$	385,520

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- Definition

Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

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X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

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X

- References

No definition available.

+ Details

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