Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 30, 2023

The unpaid principal loan balance of our servicing portfolio is presented in the following table as of:


	September 30, 2023		December 31, 2022
Federal National Mortgage Association	$	2,486,363	$	2,517,434
Federal Home Loan Mortgage Corporation	1,720,075		1,630,403
Government National Mortgage Association	1,071,769		916,455
Federal Home Loan Bank	106,410		111,699
Other	1,278		1,413
Total	$	5,385,895	$	5,177,404

The activity of MSRs carried at fair value is as follows:


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Balance, beginning of period	$	78,390	$	66,047	$	74,097	$	47,392
Additions:

Servicing resulting from transfers of financial assets	2,690		3,489		7,634		11,681


Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model	1,762		6,270		4,440		21,142
Changes in fair value due to pay-offs, pay-downs, and runoff	(1,806)		(1,956)		(5,135)		(6,365)
Balance, end of period	$	81,036	$	73,850	$	81,036	$	73,850

The following represents the weighted-average key assumptions used to estimate the fair value of MSRs as of:

Total servicing and ancillary fees earned from the mortgage servicing portfolio is presented in the following table:


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Servicing fees	$	3,758	$	4,111	$	11,064	$	10,807
Late and ancillary fees	196		123		550		264
Total	$	3,954	$	4,234	$	11,614	$	11,071