Other Assets

12 Months Ended

Dec. 31, 2021

Other Asset

Other Assets

Note 11—Other Assets

Other assets are summarized below:

	December 31,
	2021		2020
	(in thousands)
Capitalized software, net	$	109,480	$	81,434
Margin deposits		100,482		116,881
Prepaid expenses		64,924		53,975
Deposits securing Assets sold under agreements to repurchase and Notes payable secured by mortgage servicing assets		36,632		153,054
Furniture, fixtures, equipment and building improvements, net		31,677		32,217
Servicing fees receivable, net		23,672		54,679
Real estate acquired in settlement of loans		7,474		12,158
Other		242,275		187,771
	$	616,616	$	692,169
Deposits pledged to secure Assets sold under agreements to repurchase and Notes payable secured by mortgage servicing assets	$	36,632	$	153,054
Assets pledged to secure Obligations under capital lease:
Capitalized software, net		4,546		7,675
Furniture, fixture, equipment and building improvements, net		4,116		5,689
	$	45,294	$	166,418

Capitalized software is summarized below:

	December 31,
	2021		2020
	(in thousands)
Cost	$	159,407	$	111,156
Less: Accumulated amortization		(49,927)		(29,722)
	$	109,480	$	81,434

Software amortization expense totaled $20.2 million, $16.6 million and $6.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company recorded $728,000 and $13.1 million of impairment of capitalized software during the years ended December 31, 2021, and 2020, respectively, which are included in Technology expense. No impairment was recorded during the year ended December 31, 2019.

Furniture, fixtures, equipment and building improvements are summarized below:

	December 31,
	2021		2020
	(in thousands)
Furniture, fixtures, equipment and building improvements	$	75,562	$	67,700
Less: Accumulated depreciation and amortization		(43,885)		(35,483)
	$	31,677	$	32,217

Depreciation and amortization expenses are summarized below:

	Year ended December 31,
	2021		2020		2019
	(in thousands)
Depreciation and amortization expenses included in Occupancy and equipment	$	8,439	$	8,934	$	9,018