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GOODWILL AND INTANGIBLE ASSETS, NET | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS, NET | GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The following is a summary of goodwill by segment:
(in thousands) |  | Servicer and Real Estate |  | Origination |  | Corporate and Others |  | Total
Balance as of September 30, 2024 and December 31, 2023 |  | $ | 30,681 |  |  | $ | 25,279 |  |  | $ | — |  |  | $ | 55,960 |
Intangible Assets, net Intangible assets, net consist of the following:
|  | Weighted average estimated useful life (in years) |  | Gross carrying amount |  | Accumulated amortization |  | Net book value
(in thousands) |  |  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer related intangible assets |  | 9 |  | $ | 213,912 |  |  | $ | 214,307 |  |  | $ | (202,481) |  |  | $ | (200,656) |  |  | $ | 11,431 |  |  | $ | 13,651 |
Operating agreement |  | 20 |  | 35,000 |  |  | 35,000 |  |  | (25,666) |  |  | (24,354) |  |  | 9,334 |  |  | 10,646 |
Trademarks and trade names |  | 16 |  | 9,709 |  |  | 9,709 |  |  | (7,736) |  |  | (7,458) |  |  | 1,973 |  |  | 2,251 |
Total |  |  |  | $ | 258,621 |  |  | $ | 259,016 |  |  | $ | (235,883) |  |  | $ | (232,468) |  |  | $ | 22,738 |  |  | $ | 26,548 |
Amortization expense for definite lived intangible assets was $3.8 million and $3.9 million for the nine months ended September 30, 2024 and 2023, respectively ($1.3 million and $1.4 million for the third quarter of 2024 and 2023, respectively). Forecasted annual definite lived intangible asset amortization expense for 2024 through 2028 is $5.1 million, $5.1 million, $4.9 million, $4.7 million and $4.4 million, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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