v3.25.4
Mortgage Servicing Rights (Tables)
12 Months Ended
Dec. 31, 2025
Transfers and Servicing [Abstract]  
Schedule of Unpaid Principal Loan Balance of Servicing Portfolio
The unpaid principal loan balance of our servicing portfolio is presented in the following table as of December 31,:
20252024
Federal National Mortgage Association$2,674,584 $2,578,587 
Federal Home Loan Mortgage Corporation2,058,343 1,876,095 
Government National Mortgage Association1,420,376 1,259,513 
Federal Home Loan Bank121,476 98,582 
Other1,012 1,169 
Total$6,275,791 $5,813,946 
Schedule of Mortgage Servicing Rights at Fair Value
The activity of MSRs carried at fair value is as follows for the years ended December 31,:
202520242023
Balance, beginning of year$84,258 $76,701 $74,097 
Additions:
Servicing resulting from transfers of financial assets14,584 12,271 9,253 
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model(1,760)3,707 30 
Changes in fair value due to pay-offs, pay-downs, and runoff(10,431)(8,421)(6,679)
Balance, end of year$86,651 $84,258 $76,701 
Schedule of Weighted-Average key Assumptions Used to Estimate Fair Value of Mortgage Servicing Rights
The following represents the weighted-average key assumptions used to estimate the fair value of MSRs as of December 31,:
202520242023
Discount rate9.81 %10.09 %10.06 %
Total prepayment speeds9.04 %7.90 %7.79 %
Cost of servicing each loan
$91/per loan
$92/per loan
$90/per loan
Schedule of Servicing and Ancillary Fees from Mortgage Servicing Portfolio
Total servicing and ancillary fees earned from the mortgage servicing portfolio is presented in the following table for the years ended December 31,:
202520242023
Servicing fees$17,731 $16,074 $14,913 
Late and ancillary fees936 899 761 
Total$18,667 $16,973 $15,674