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GOODWILL AND INTANGIBLE ASSETS, NET | 9 Months Ended
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Sep. 30, 2025
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, 2025 and December 31, 2024 |  | $ | 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, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer related intangible assets |  | 9 |  | $ | 213,912 |  |  | $ | 213,912 |  |  | $ | (205,440) |  |  | $ | (203,221) |  |  | $ | 8,472 |  |  | $ | 10,691 |
Operating agreement |  | 20 |  | 35,000 |  |  | 35,000 |  |  | (27,417) |  |  | (26,104) |  |  | 7,583 |  |  | 8,896 |
Trademarks and trade names |  | 16 |  | 9,709 |  |  | 9,709 |  |  | (8,106) |  |  | (7,828) |  |  | 1,603 |  |  | 1,881 |
Total |  |  |  | $ | 258,621 |  |  | $ | 258,621 |  |  | $ | (240,963) |  |  | $ | (237,153) |  |  | $ | 17,658 |  |  | $ | 21,468 |
Amortization expense for definite lived intangible assets was $3.8 million and $3.8 million for the nine months ended September 30, 2025 and 2024, respectively ($1.3 million and $1.3 million for the third quarter of 2025 and 2024, 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.

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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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