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MORTGAGE SERVICING RIGHTS (Tables)
6 Months Ended
Jun. 30, 2020
MORTGAGE SERVICING RIGHTS  
Schedule of Activity Related to Capitalized MSRs, Net of Accumulated Amortization

For the three months ended

For the six months ended

 

June 30, 

June 30, 

 

Roll Forward of MSRs (in thousands)

    

2020

    

2019

    

2020

    

2019

 

Beginning balance

$

722,486

$

677,946

$

718,799

$

670,146

Additions, following the sale of loan

 

99,589

 

48,695

 

143,803

 

95,797

Amortization

 

(36,706)

 

(34,267)

 

(71,924)

 

(68,470)

Pre-payments and write-offs

 

(7,100)

 

(4,347)

 

(12,409)

 

(9,446)

Ending balance

$

778,269

$

688,027

$

778,269

$

688,027

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)

June 30, 2020

December 31, 2019

Gross Value

$

1,281,002

$

1,201,542

Accumulated amortization

 

(502,733)

 

(482,743)

Net carrying value

$

778,269

$

718,799

Schedule of Expected Amortization of MSRs

  

Expected

(in thousands)

  Amortization  

Six Months Ending December 31, 

2020

$

72,786

Year Ending December 31, 

2021

$

136,659

2022

 

122,719

2023

 

109,200

2024

 

94,794

2025

 

75,945

Thereafter

166,166

Total

$

778,269