Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 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 December 31,:

	2023		2022
Federal National Mortgage Association	$	2,478,732	$	2,517,434
Federal Home Loan Mortgage Corporation	1,736,329		1,630,403
Government National Mortgage Association	1,094,438		916,455
Federal Home Loan Bank	105,702		111,699
Other	1,258		1,413
Total	$	5,416,459	$	5,177,404

Schedule of Mortgage Servicing Rights at Fair Value

The activity of MSRs carried at fair value is as follows for the years ended December 31,:

	2023		2022		2021
Balance, beginning of period	$	74,097	$	47,392	$	29,144
Additions:
Servicing resulting from transfers of financial assets	9,253		14,287		23,854
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model	30		20,350		6,093
Changes in fair value due to pay-offs, pay-downs, and runoff	(6,679)		(7,932)		(11,699)
Balance, end of period	$	76,701	$	74,097	$	47,392

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 December 31,:

	2023		2022		2021
Discount rate	10.06	%	9.85	%	9.22	%
Total prepayment speeds	7.79	%	7.40	%	11.52	%
Cost of servicing each loan	$90/per loan		$88/per loan		$85/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 years ended December 31,:

	2023		2022		2021
Servicing fees	$	14,913	$	14,675	$	12,092
Late and ancillary fees	761		413		433
Total	$	15,674	$	15,088	$	12,525