v3.25.2
MORTGAGE SERVICING RIGHTS (Tables)
6 Months Ended
Jun. 30, 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

$

40.3

200 basis point increase

77.9

Placement Fee Rate

50 basis point decrease

$

49.1

100 basis point decrease

98.3

Schedule of Activity Related to MSRs

For the three months ended

For the six months ended

 

June 30, 

June 30, 

 

Roll Forward of MSRs (in thousands)

    

2025

    

2024

    

2025

    

2024

 

Beginning balance

$

825,761

$

881,834

$

852,399

$

907,415

Additions, following the sale of loan

 

47,068

 

21,172

 

73,911

 

47,582

Amortization

 

(53,264)

 

(50,495)

 

(105,086)

 

(101,026)

Pre-payments and write-offs

 

(1,751)

 

(1,680)

 

(3,410)

 

(3,140)

Ending balance

$

817,814

$

850,831

$

817,814

$

850,831

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)

June 30, 2025

December 31, 2024

Gross value

$

1,833,896

$

1,808,295

Accumulated amortization

 

(1,016,082)

 

(955,896)

Net carrying value

$

817,814

$

852,399

Schedule of Expected Amortization of MSRs

(in thousands)

Expected

Six Months Ending December 31, 

  Amortization  

2025

$

100,531

Year Ending December 31,

2026

$

182,283

2027

 

160,583

2028

 

129,242

2029

 

93,452

2030

 

64,448

Thereafter

87,275

Total

$

817,814