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MSRs (Tables)
 12 Months Ended
Dec. 31, 2022
Mortgage Servicing Rights MSR Disclosure [Abstract]  
MSR Activity
The following table presents the Company’s MSR activity as of the years ended December 31, 2022 and December 31, 2021:

 December 31, 2022December 31, 2021
Balance at beginning of year$551,997 $919,678 
Changes in fair value due to:  
Realized loss— (10,910)
Changes in valuation inputs or assumptions used in valuation model344,617 109,663 
Other changes to fair value(1)
(100,958)(466,434)
Balance at end of year$795,656 $551,997 
Loans associated with MSRs(2)
$74,798,949 $91,727,121 
MSR values as percent of loans(3)
1.06 %0.60 %
 
(1)Amounts represent changes due to realization of expected cash flows and prepayment of principal of the underlying loan portfolio.
(2)Amounts represent the unpaid principal balance of loans associated with MSRs outstanding at December 31, 2022 and December 31, 2021, respectively.
(3)Amounts represent the carrying value of MSRs at December 31, 2022 and December 31, 2021, respectively divided by the outstanding balance of the loans associated with these MSRs.
Components of Servicing Income
The following table presents the servicing income recorded on the Company’s consolidated statements of operations for the years ended December 31, 2022 and December 31, 2021:
Year Ended December 31, 2022Year Ended December 31, 2021
Servicing income, net$347,838 $398,939 
Income from MSRs, net$347,838 $398,939