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GOODWILL AND OTHER INTANGIBLE ASSETS, NET | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS, NET | GOODWILL AND OTHER INTANGIBLE ASSETS, NET A summary of the Company’s activity related to goodwill is as follows.
|  |  |  |  | Goodwill |  | Other intangible assets |  | Total
Balance, December 31, 2021 |  |  |  |  | $ | 40,736 |  |  | $ | 1,581 |  |  | $ | 42,317 |
Amortization |  |  |  |  | — |  |  | (205) |  |  | (205) |
Impairment loss |  |  |  |  | (40,736) |  |  | (1,376) |  |  | (42,112) |
Balance, June 30, 2022 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  | Goodwill |  | Other intangible assets |  | Total
Balance, December 31, 2020 |  |  |  |  | $ | 40,736 |  |  | $ | 2,090 |  |  | $ | 42,826 |
Amortization |  |  |  |  | — |  |  | (255) |  |  | (255) |
Balance June 30, 2021 |  |  |  |  | $ | 40,736 |  |  | $ | 1,835 |  |  | $ | 42,571 |
The Company performs its annual assessment of possible impairment of goodwill and intangible assets as of December 31, or more frequently if events and circumstances indicate that impairment may have occurred. The Company compares the fair value of each reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. During the three months ended June 30, 2022, the Company performed an interim impairment test due to the impact of rising interest rates on the mortgage industry and the Company’s recent stock performance. The evaluation of goodwill included a market based and income based approach. Based upon the results of this evaluation, an impairment charge of $40.7 million was recognized, driven predominantly by a significant decline in our market capitalization. In addition to goodwill, the Company had other intangible assets related to trademarks associated with prior acquisitions. The Company reviews intangible assets for possible impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. The factors outlined in the goodwill impairment discussion above triggered an interim impairment evaluation of other intangible assets during the three months ended June 30, 2022. Based upon the results of this evaluation, an impairment charge of $1.4 million was recognized.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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