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Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2022
Transfers and Servicing of Financial Assets [Abstract]  
Schedule of Changes in Servicing Assets
The following table presents changes in the servicing asset during the year ended December 31, 2022 and 2021:

Servicing Asset
dollars in millionsYear Ended December 31,
202220212020
Beginning balance$23 $18 $23 
Servicing rights originated4 11 8 
Servicing rights obtained in CIT Merger3 — — 
Amortization(6)(9)(9)
Valuation allowance benefit (provision)1 3 (4)
Ending balance$25 $23 $18 
Schedule of Activity in Servicing Asset Valuation Allowance
The following table presents the activity in the servicing asset valuation allowance:

Servicing Asset Valuation Allowance
dollars in millionsYear Ended December 31,
202220212020
Beginning balance$1 $4 $— 
Valuation allowance (benefit) provision(1)(3)4 
Ending balance$— $1 $4 
Schedule of Servicing Asset Key Economic Assumptions Key economic assumptions used to value MSRs were as follows:
MSRs Valuation Assumptions
December 31, 2022December 31, 2021
Discount rate9.62 %8.55 %
Weighted average constant prepayment rate6.76 %15.69 %
Weighted average cost to service a loan$81 $88