MORTGAGE SERVICING RIGHTS (Tables)

12 Months Ended

Dec. 31, 2019

MORTGAGE SERVICING RIGHTS

Schedule of Activity Related to Capitalized MSRs, Net of Accumulated Amortization

	For the year ended December 31,
Roll Forward of MSRs (in thousands)	2019		2018
Beginning balance	$	670,146	$	634,756
Additions, following the sale of loan		206,885		176,565
Purchases1		—		5,265
Amortization		(137,792)		(131,739)
Pre-payments and write-offs		(20,440)		(14,701)
Ending balance	$	718,799	$	670,146

¹ For the year ended December 31, 2018, the purchases line also contains $3.5 million of MSRs acquired as compensation for originating a large loan held for investment.

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)	December 31, 2019		December 31, 2018
Gross Value	$	1,201,542	$	1,100,439
Accumulated amortization		(482,743)		(430,293)
Net carrying value	$	718,799	$	670,146

Schedule of Expected Amortization of MSRs

	Expected
(in thousands)	Amortization
Year Ending December 31,
2020	$	131,447
2021		118,500
2022		103,567
2023		91,498
2024		78,362
Thereafter		195,425
Total	$	718,799