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MORTGAGE SERVICING RIGHTS (Tables)
 12 Months Ended
Dec. 31, 2022
Transfers and Servicing [Abstract]  
Presentation of Activity Related to MSR
The following table presents activity related to MSR and Interests in MSR for the years ended December 31, 2022 and 2021:  
  Mortgage Servicing RightsDecember 31, 2022December 31, 2021
 (dollars in thousands)
Fair value, beginning of period$544,562 $100,895 
Purchases (1)
1,009,351 468,196 
Transfers (2)
82,650 — 
Sales(9,084)(82,176)
Change in fair value due to
Changes in valuation inputs or assumptions (3)
205,463 120,879 
Other changes, including realization of expected cash flows(84,733)(63,232)
Fair value, end of period$1,748,209 $544,562 
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.
(2) Transfers from Interests in MSR - Refer to the “Variable Interest Entities” Note for additional information.
(3) Principally represents changes in discount rates and prepayment speed inputs used in valuation model, primarily due to changes in interest rates.
Interests in MSRDecember 31, 2022December 31, 2021
(dollars in thousands)
Beginning balance$69,316 $— 
Purchases (1)
4,860 65,107 
Transfers (2)
(82,650)— 
Gain (loss) included in net income8,474 4,209 
Ending balance December 31, 2022
$— $69,316 
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.
(2) Transfers to MSR - Refer to the “Variable Interest Entities” Note for additional information