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Capitalized Mortgage Servicing Rights (Tables)

6 Months Ended

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