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Mortgage Servicing Rights
 12 Months Ended
Dec. 31, 2022
Transfers and Servicing [Abstract]  
Mortgage Servicing Rights Mortgage Servicing Rights
The unpaid principal loan balance of our servicing portfolio is presented in the following table as of December 31,:
20222021
Federal National Mortgage Association$2,517,434 $2,352,981 
Federal Home Loan Mortgage Corporation1,630,403 1,512,858 
Government National Mortgage Association916,455 759,524 
Federal Home Loan Bank111,699 134,616 
Other1,413 1,853 
Total$5,177,404 $4,761,832 
The activity of MSRs carried at fair value is as follows for the years ended December 31,:
202220212020
Balance, beginning of period$47,392 $29,144 $29,003 
Additions:
Servicing resulting from transfers of financial assets14,287 23,854 22,421 
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model20,350 6,093 (13,798)
Changes in fair value due to pay-offs, pay-downs, and runoff(7,932)(11,699)(8,482)
Balance, end of period$74,097 $47,392 $29,144 
The following represents the weighted-average key assumptions used to estimate the fair value of MSRs as of December 31,:
202220212020
Discount rate9.85 %9.22 %9.12 %
Total prepayment speeds7.40 %11.52 %16.99 %
Cost of servicing each loan
$88/per loan
$85/per loan
$85/per loan
Total servicing and ancillary fees earned from the mortgage servicing portfolio is presented in the following table for the years ended December 31,:
202220212020
Servicing fees$14,675 $12,092 $9,426 
Late and ancillary fees413 433 372 
Total$15,088 $12,525 $9,798