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Capitalized Mortgage Servicing Rights (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 |  | Nine Months Ended September 30, 2024
| Originated |  | Acquired |  | Total |  | Originated |  | Acquired |  | Total
Beginning balance | $ | 374,159 |  |  | $ | 6,560 |  |  | $ | 380,719 |  |  | $ | 382,582 |  |  | $ | 8,672 |  |  | $ | 391,254 |
Additions | 14,476 |  |  | — |  |  | 14,476 |  |  | 41,877 |  |  | — |  |  | 41,877 |
Amortization | (16,621) |  |  | (678) |  |  | (17,299) |  |  | (48,593) |  |  | (2,224) |  |  | (50,817) |
Write-downs and payoffs | (1,469) |  |  | (24) |  |  | (1,493) |  |  | (5,321) |  |  | (590) |  |  | (5,911) |
Ending balance | $ | 370,545 |  |  | $ | 5,858 |  |  | $ | 376,403 |  |  | $ | 370,545 |  |  | $ | 5,858 |  |  | $ | 376,403 |
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
Beginning balance | $ | 383,267 |  |  | $ | 11,143 |  |  | $ | 394,410 |  |  | $ | 386,878 |  |  | $ | 14,593 |  |  | $ | 401,471 |
Additions | 16,550 |  |  | — |  |  | 16,550 |  |  | 49,416 |  |  | — |  |  | 49,416 |
Amortization | (14,988) |  |  | (912) |  |  | (15,900) |  |  | (43,866) |  |  | (3,054) |  |  | (46,920) |
Write-downs and payoffs | (2,400) |  |  | (457) |  |  | (2,857) |  |  | (9,999) |  |  | (1,765) |  |  | (11,764) |
Ending balance | $ | 382,429 |  |  | $ | 9,774 |  |  | $ | 392,203 |  |  | $ | 382,429 |  |  | $ | 9,774 |  |  | $ | 392,203 |
Summary of Expected Amortization of Capitalized MSRs | The expected amortization of capitalized MSRs recorded at September 30, 2024 is as follows (in thousands):
Year |  | Amortization
2024 (three months ending 12/31/2024) |  | $ | 17,557 |
2025 |  | 67,899 |
2026 |  | 62,456 |
2027 |  | 57,942 |
2028 |  | 50,678 |
Thereafter |  | 119,871 |
Total |  | $ | 376,403 |

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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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