v3.25.1
Servicing Assets (Tables)
3 Months Ended
Mar. 31, 2025
Transfers and Servicing [Abstract]  
Schedule of Activity Pertaining to Servicing Rights
The following table summarizes the activity pertaining to servicing rights measured at fair value:
Three Months Ended
March 31,
20252024
Balance at beginning of period$55,788 $48,186 
Additions, net5,624 3,520 
Fair value changes:
Due to changes in valuation inputs or assumptions(1,095)221 
Decay due to increases in principal paydowns or runoff(3,633)(2,965)
Balance at end of period$56,684 $48,962 
Schedule of Sensitivity of Current Fair Value of Servicing Assets
The table below reflects the sensitivity of the current fair value of servicing assets to immediate adverse changes in the above key assumptions with all other assumptions remaining static:
As of March. 31, 2025As of December. 31, 2024
Fair value of servicing rights$56,684$55,788
Incremental Increase (Decrease) in ValueIncremental Increase (Decrease) in Value
Prepayment Speed
20% increase($3,390)($3,459)
10% increase(1,699)(1,785)
Discount Rate
200 basis point increase(2,469)(2,603)
100 basis point increase(1,209)(1,331)