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Mortgage Servicing Rights (Tables)
6 Months Ended
Jun. 30, 2023
Transfers and Servicing [Abstract]  
Schedule of Unpaid Principal Loan Balance of Servicing Portfolio
The unpaid principal loan balance of our servicing portfolio is presented in the following table as of:
June 30,
2023
December 31, 2022
Federal National Mortgage Association$2,484,667 $2,517,434 
Federal Home Loan Mortgage Corporation1,697,816 1,630,403 
Government National Mortgage Association1,027,438 916,455 
Federal Home Loan Bank106,752 111,699 
Other1,299 1,413 
Total$5,317,972 $5,177,404 
Schedule of Mortgage Servicing Rights at Fair Value
The activity of MSRs carried at fair value is as follows:
For the three months ended June 30,
For the six months ended
 June 30,
2023202220232022
Balance, beginning of period$73,424 $60,481 $74,097 $47,392 
Additions:
Servicing resulting from transfers of financial assets2,897 3,668 4,944 8,192 
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model3,846 4,049 2,678 14,872 
Changes in fair value due to pay-offs, pay-downs, and runoff(1,777)(2,151)(3,329)(4,409)
Balance, end of period$78,390 $66,047 $78,390 $66,047 
Schedule of Weighted-Average key Assumptions used to estimate Fair Value of Mortgage Servicing Rights
The following represents the weighted-average key assumptions used to estimate the fair value of MSRs as of:
June 30,
2023
December 31,
2022
June 30,
2022
Discount rate11.19 %9.85 %9.42 %
Total prepayment speeds7.56 %7.40 %7.97 %
Cost of servicing each loan
$89/per loan
$88/per loan
$87/per loan
Schedule of Servicing and Ancillary Fees from Mortgage Servicing Portfolio
Total servicing and ancillary fees earned from the mortgage servicing portfolio is presented in the following table:
For the three months ended June 30,
For the six months ended
 June 30,
2023202220232022
Servicing fees$3,684 $3,477 $7,306 $6,696 
Late and ancillary fees169 52 354 141 
Total$3,853 $3,529 $7,660 $6,837