MSRs (Tables)

9 Months Ended

Sep. 30, 2023

Mortgage Servicing Rights MSR Disclosure [Abstract]

Schedule of MSR Activity

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

	September 30, 2023			September 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	14,744			358,436
Other changes to fair value(1)	(62,093)			(92,526)
Balance at end of period	$	748,307		$	817,907
Loans associated with MSRs(2)	$	68,979,603		$	76,207,213
MSR values as percent of loans(3)	1.08		%	1.07		%

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

(3)Amounts represent the carrying value of MSRs at September 30, 2023 and September 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 nine months ended September 30, 2023 and September 30, 2022:

	Three Months Ended September 30, 2023		Three Months Ended September 30, 2022
Servicing income, net	$	70,842	$	62,451
Total servicing income	$	70,842	$	62,451

	Nine Months Ended September 30, 2023		Nine Months Ended September 30, 2022
Servicing income, net	$	167,766	$	185,685
Total servicing income	$	167,766	$	185,685