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GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 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 December 31, 2024 and 2023
$30,681 $25,279 $— $55,960 
We determined that each reportable segment represents a reporting unit. Goodwill was allocated to each reporting unit based on the relative fair value of each of our reporting units.
Intangible Assets, net
Intangible assets, net consist of the following as of December 31:
Weighted average estimated useful life (in years)
Gross carrying amountAccumulated amortizationNet book value
(in thousands)202420232024202320242023
Definite lived intangible assets:
Customer related intangible assets9$213,912 $214,307 $(203,221)$(200,656)$10,691 $13,651 
Operating agreement2035,000 35,000 (26,104)(24,354)8,896 10,646 
Trademarks and trade names169,709 9,709 (7,828)(7,458)1,881 2,251 
Total$258,621 $259,016 $(237,153)$(232,468)$21,468 $26,548 
Amortization expense for definite lived intangible assets was $5.1 million and $5.2 million for the years ended December 31, 2024 and 2023, respectively. Forecasted annual definite lived intangible asset amortization expense for 2025 through 2029 is $5.1 million, $4.9 million, $4.7 million, $4.4 million and $2.1 million, respectively.