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MORTGAGE SERVICING RIGHTS (Tables)
6 Months Ended
Jun. 30, 2024
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, 2024 and the six months ended June 30, 2023:

 June 30, 2024June 30, 2023
Balance at beginning of period$691,973 $795,656 
Changes in fair value due to:
Changes in valuation inputs or assumptions used in valuation model15,367 585 
Other changes to fair value(1)
(21,015)(49,507)
Balance at end of period$686,325 $746,734 
Loans associated with MSRs(2)
$65,187,223 $70,212,243 
MSR values as percent of loans(3)
1.05 %1.06 %
(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, 2024 and June 30, 2023, respectively.
(3)Amounts represent the carrying value of MSRs at June 30, 2024 and June 30, 2023, 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, 2024 and June 30, 2023:
Three Months Ended
June 30, 2024
Three Months Ended
June 30, 2023
Servicing income, net$18,270 $45,396 
Total servicing income$18,270 $45,396 
Six Months Ended June 30, 2024Six Months Ended June 30, 2023
Servicing income, net$56,773 $96,924 
Total servicing income$56,773 $96,924