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MORTGAGE SERVICING RIGHTS (Tables)
9 Months Ended
Sep. 30, 2022
MORTGAGE SERVICING RIGHTS  
Schedule of Activity Related to MSRs

For the three months ended

For the nine months ended

 

September 30, 

September 30, 

 

Roll Forward of MSRs (in thousands)

    

2022

    

2021

    

2022

    

2021

 

Beginning balance

$

978,745

$

915,519

$

953,845

$

862,813

Additions, following the sale of loan

 

45,454

 

70,095

 

182,753

 

224,035

Amortization

 

(47,391)

 

(44,402)

 

(140,846)

 

(130,868)

Pre-payments and write-offs

 

(9,038)

 

(11,387)

 

(27,982)

 

(26,155)

Ending balance

$

967,770

$

929,825

$

967,770

$

929,825

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)

September 30, 2022

December 31, 2021

Gross value

$

1,622,213

$

1,548,870

Accumulated amortization

 

(654,443)

 

(595,025)

Net carrying value

$

967,770

$

953,845

Schedule of Expected Amortization of MSRs

  

Expected

(in thousands)

  Amortization  

Three Months Ending December 31, 

2022

$

46,639

Year Ending December 31, 

2023

$

180,469

2024

 

163,771

2025

 

141,014

2026

 

119,503

2027

 

101,362

Thereafter

215,012

Total

$

967,770