MORTGAGE SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of activity related to capitalized MSRs

Activity related to capitalized MSRs for the three months ended March 31, 2013 and 2012 was as follows (in thousands):

	For the three months ended March 31,
	2013			2012

Beginning balance	$	315,524		$	137,079
Additions, following the sale of loan	38,793			13,027
Amortization	(15,105		)	(6,350		)
Pre-payments and write-offs	(2,815		)	(1,135		)
Ending balance	$	336,397		$	142,621

Schedule of expected amortization of MSR

The expected amortization of MSR balances recorded as of March 31, 2013 is shown below (in thousands):

	Originated MSRs		Acquired MSRs		Total MSRs
	Amortization		Amortization		Amortization
Nine Months Ending December 31,
2013	$	29,436	$	15,732	$	45,168
Year Ending December 31,
2014	36,686		19,565		56,251
2015	32,065		17,867		49,932
2016	29,565		16,400		45,965
2017	26,547		14,387		40,934
2018	22,576		10,468		33,044
Thereafter	49,939		15,164		65,103
Total	$	226,814	$	109,583	$	336,397

- Definition

Tabular disclosure of the activity in the balance of servicing assets subsequently measured at amortized value (including a description of where changes in carrying value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (through purchases of servicing assets and servicing assets that result from transfers of financial assets), disposals, amortization, application of valuation allowances, other-than-temporary impairments, and other changes that affect the balance along with a description of those changes.

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