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Capitalized Mortgage Servicing Rights (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2024 |  | Six Months Ended June 30, 2024
| Originated |  | Acquired |  | Total |  | Originated |  | Acquired |  | Total
Beginning balance | $ | 377,747 |  |  | $ | 7,773 |  |  | $ | 385,520 |  |  | $ | 382,582 |  |  | $ | 8,672 |  |  | $ | 391,254 |
Additions | 14,717 |  |  | — |  |  | 14,717 |  |  | 27,401 |  |  | — |  |  | 27,401 |
Amortization | (16,151) |  |  | (736) |  |  | (16,887) |  |  | (31,972) |  |  | (1,546) |  |  | (33,518) |
Write-downs and payoffs | (2,154) |  |  | (477) |  |  | (2,631) |  |  | (3,852) |  |  | (566) |  |  | (4,418) |
Ending balance | $ | 374,159 |  |  | $ | 6,560 |  |  | $ | 380,719 |  |  | $ | 374,159 |  |  | $ | 6,560 |  |  | $ | 380,719 |
| Three Months Ended June 30, 2023 |  | Six Months Ended June 30, 2023
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 |
Summary of Expected Amortization of Capitalized MSRs | The expected amortization of capitalized MSRs recorded at June 30, 2024 is as follows (in thousands):
Year |  | Amortization
2024 (six months ending 12/31/2024) |  | $ | 34,199 |
2025 |  | 65,880 |
2026 |  | 60,425 |
2027 |  | 55,923 |
2028 |  | 48,630 |
Thereafter |  | 115,662 |
Total |  | $ | 380,719 |

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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 + Details
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- 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://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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