Mortgage Servicing Rights, Net (Tables)

6 Months Ended

Jun. 30, 2023

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	2023		2022		2023		2022
Beginning Balance	$	556,916	$	571,581	$	576,428	$	563,488
Additions	22,654		35,426		31,619		71,626


Amortization	(29,007)		(29,059)		(57,484)		(57,166)
Ending Balance	$	550,563	$	577,948	$	550,563	$	577,948

Valuation Allowance
Beginning Balance	$	(6,375)	$	(11,986)	$	(7,876)	$	(13,186)
Decrease	343		2,718		1,844		3,918
Ending Balance	$	(6,032)	$	(9,268)	$	(6,032)	$	(9,268)
Net Balance	$	544,531	$	568,680	$	544,531	$	568,680

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,
	2023		2022		2023		2022
Servicing fees	$	37,711	$	37,089	$	74,617	$	73,034
Escrow interest and placement fees	12,657		2,389		22,748		3,406
Ancillary fees	1,829		7,482		2,760		13,156
Total	$	52,197	$	46,960	$	100,125	$	89,596