v3.25.1
MORTGAGE SERVICING RIGHTS (Tables)
3 Months Ended
Mar. 31, 2025
MORTGAGE SERVICING RIGHTS  
Schedule of MSR Key Economic Assumptions Sensitivities

MSR Key Economic Assumptions Sensitivities (in millions)

Decrease in Fair Value

Discount Rate

100 basis point increase

$

42.1

200 basis point increase

81.3

Placement Fee Rate

50 basis point decrease

$

49.9

100 basis point decrease

99.7

Schedule of Activity Related to MSRs

For the three months ended

 

March 31, 

 

Roll Forward of MSRs (in thousands)

    

2025

    

2024

 

Beginning balance

$

852,399

$

907,415

Additions, following the sale of loan

 

26,843

 

26,410

Amortization

 

(51,822)

 

(50,531)

Pre-payments and write-offs

 

(1,659)

 

(1,460)

Ending balance

$

825,761

$

881,834

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)

March 31, 2025

December 31, 2024

Gross value

$

1,819,165

$

1,808,295

Accumulated amortization

 

(993,404)

 

(955,896)

Net carrying value

$

825,761

$

852,399

Schedule of Expected Amortization of MSRs

  

(in thousands)

Expected

Nine Months Ending December 31, 

  Amortization  

2025

$

148,045

Year Ending December 31,

2026

$

175,412

2027

 

153,757

2028

 

122,585

2029

 

88,577

2030

 

60,614

Thereafter

76,771

Total

$

825,761