Mortgage Servicing Rights, Net (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Changes in the Carrying Amount of Mortgage Servicing Rights

The changes in the carrying amount of MSRs were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
Mortgage Servicing Rights	2022		2021		2022		2021
Beginning Balance	$	571,581	$	550,251	$	563,488	$	528,983
Additions	35,426		22,436		71,626		70,574


Amortization	(29,059)		(27,962)		(57,166)		(54,832)
Ending Balance	$	577,948	$	544,725	$	577,948	$	544,725

Valuation Allowance
Beginning Balance	$	(11,986)	$	(23,006)	$	(13,186)	$	(34,254)
Decrease (increase)	2,718		4,687		3,918		15,935
Ending Balance	$	(9,268)	$	(18,319)	$	(9,268)	$	(18,319)
Net Balance	$	568,680	$	526,406	$	568,680	$	526,406

Schedule of Servicing Fees and Escrow Interest

Servicing fees are included in “Management services, servicing fees and other” on the accompanying unaudited condensed consolidated statements of operations and were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Servicing fees	$	37,089	$	34,414	$	73,034	$	67,090
Escrow interest and placement fees	2,389		1,080		3,406		2,051
Ancillary fees	7,482		1,132		13,156		3,819
Total	$	46,960	$	36,626	$	89,596	$	72,960