MSRs (Tables)

6 Months Ended

Jun. 30, 2023

Mortgage Servicing Rights MSR Disclosure [Abstract]

Schedule of MSR Activity

The following table presents the Company's MSR activity for the six months ended June 30, 2023 and the six months ended June 30, 2022:

	June 30, 2023			June 30, 2022
Balance at beginning of period	$	795,656		$	551,997
Changes in fair value due to:
Changes in valuation inputs or assumptions used in valuation model	585			300,977
Other changes to fair value(1)	(49,507)			(72,379)
Balance at end of period	$	746,734		$	780,595
Loans associated with MSRs(2)	$	70,212,243		$	79,643,107
MSR values as percent of loans(3)	1.06		%	0.98		%

(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 June 30, 2023 and June 30, 2022, respectively.

(3)Amounts represent the carrying value of MSRs at June 30, 2023 and June 30, 2022, respectively divided by the outstanding balance of the loans associated with these MSRs.

Schedule of Components of Servicing Income

The following table presents the servicing income recorded on the Company's consolidated statements of operations for the three and six months ended June 30, 2023 and June 30, 2022:

	Three Months Ended June 30, 2023		Three Months Ended June 30, 2022
Servicing income, net	$	45,396	$	56,053
Total servicing income	$	45,396	$	56,053

	Six Months Ended June 30, 2023		Six Months Ended June 30, 2022
Servicing income, net	$	96,924	$	123,234
Total servicing income	$	96,924	$	123,234