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MORTGAGE SERVICING RIGHTS (Tables)
9 Months Ended
Sep. 30, 2019
MORTGAGE SERVICING RIGHTS  
Schedule of Activity Related to Capitalized MSRs, Net of Accumulated Amortization

For the three months ended

For the nine months ended

 

September 30, 

September 30, 

 

Roll Forward of MSRs (in thousands)

    

2019

    

2018

    

2019

    

2018

 

Beginning balance

$

688,027

$

638,914

$

670,146

$

634,756

Additions, following the sale of loan

 

48,198

 

46,107

 

143,995

 

119,588

Purchases

1,814

Amortization

 

(34,531)

 

(33,157)

 

(103,001)

 

(98,119)

Pre-payments and write-offs

 

(4,344)

 

(4,676)

 

(13,790)

 

(10,851)

Ending balance

$

697,350

$

647,188

$

697,350

$

647,188

Summary of Components of Net Carrying Value of Acquired and Originated MSRs

Components of MSRs (in thousands)

September 30, 2019

December 31, 2018

Gross Value

$

1,168,058

$

1,100,439

Accumulated amortization

 

(470,708)

 

(430,293)

Net carrying value

$

697,350

$

670,146

Schedule of Expected Amortization of MSRs

  

Expected

(in thousands)

  Amortization  

Three Months Ending December 31, 

2019

$

33,863

Year Ending December 31, 

2020

$

127,477

2021

 

114,030

2022

 

98,590

2023

 

86,425

2024

 

72,868

Thereafter

164,097

Total

$

697,350