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Capitalized Mortgage Servicing Rights (Tables)

9 Months Ended

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

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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://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

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- References

No definition available.

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