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MORTGAGE SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 30, 2023

Transfers and Servicing [Abstract]

Schedule of Activity of Mortgage Servicing Rights

The activity of mortgage servicing rights was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Balance — beginning of period			$	1,184,503					$	1,030,310					$	1,139,539					$	675,340
MSRs originated			51,733						57,477						123,678						206,772
Changes in fair value:
Due to collection/realization of cash flows			(16,127)						(19,659)						(43,187)						(70,380)
Due to changes in valuation model inputs or assumptions			38,204						61,423						38,283						317,819
Balance — end of period			$	1,258,313					$	1,129,551					$	1,258,313					$	1,129,551

Schedule of Weighted Average Discount Rate, Prepayment Speed and Cost to Service Assumptions Used to Determine Fair Value of MSRs

The following table presents the weighted average discount rate, prepayment speed and cost to service assumptions used to determine the fair value of MSRs:

						September 30, 2023						December 31, 2022
Unobservable Input						Range (Weighted Average)
Discount rate						9.6% - 15.5% (10.8%)						9.6% - 15.7% (10.6%)
Prepayment rate						6.3% - 28.0% (7.4%)						6.6% - 28.6% (7.5%)
Cost to service (per loan)						$71.8 - $305.2 ($94.4)						$66.7 - $330.4 ($92.0)

Schedule of Actual Revenue Generated from Servicing Activities

Actual revenue generated from servicing activities included contractually specified servicing fees, as well as late fees and other ancillary servicing revenue, which were recorded within loan servicing and other fees as follows for the three and nine months ended September 30, 2023 and 2022:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Servicing fees from servicing portfolio			$	60,992					$	56,410					$	179,382					$	161,342
Late fees			1,729						1,486						5,016						4,369
Other ancillary servicing revenue and fees			(780)						(249)						(2,159)						(292)
Total loan servicing and other fees			$	61,941					$	57,647					$	182,239					$	165,419

Schedule of Impact of Adverse Changes on Prepayment Speeds, Discount Rate and Cost to Service at Two Different Data Points

The following table illustrates the impact of adverse changes on the prepayment speeds, discount rate and cost to service at two different data points at September 30, 2023 and December 31, 2022, respectively:

			Prepayment Speeds												Discount Rate												Cost to Service (per loan)
			10% Adverse Change						20% Adverse Change						10% Adverse Change						20% Adverse Change						10% Adverse Change						20% Adverse Change
September 30, 2023
Mortgage servicing rights			$	(38,165)					$	(74,836)					$	(53,571)					$	(103,720)					$	(11,965)					$	(24,189)
December 31, 2022
Mortgage servicing rights			$	(36,298)					$	(70,878)					$	(50,392)					$	(96,848)					$	(11,880)					$	(24,162)

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- Definition

Schedule of actual revenue generated from servicing activities.

+ References

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- Definition

Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

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- Definition

Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

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- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

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