v3.26.1
MORTGAGE SERVICING RIGHTS (Tables)
6 Months Ended
Jun. 30, 2026
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

$

38.6

200 basis point increase

74.4

Placement Fee Rate

50 basis point decrease

$

50.4

100 basis point decrease

100.8

Schedule of Activity Related to MSRs

As of and for the three months ended

As of and for the six months ended

 

June 30, 

June 30, 

 

Roll Forward of MSRs (in thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

 

Beginning balance

$

795,754

$

825,761

$

808,145

$

852,399

Additions, following the sale of loan

 

54,077

 

47,068

 

100,438

 

73,911

Amortization

 

(54,267)

 

(53,264)

 

(107,343)

 

(105,086)

Pre-payments and write-offs

 

(2,213)

 

(1,751)

 

(7,889)

 

(3,410)

Ending balance

$

793,351

$

817,814

$

793,351

$

817,814

Summary of Components of Net Carrying Value of MSRs

Components of MSRs (in thousands)

June 30, 2026

December 31, 2025

Gross value

$

1,849,374

$

1,824,350

Accumulated amortization

 

(1,056,023)

 

(1,016,205)

Net carrying value

$

793,351

$

808,145

Schedule of Expected Amortization of MSRs

(in thousands)

Expected

Six Months Ending December 31, 

  ​Amortization  

2026

$

106,275

Year Ending December 31,

2027

$

196,669

2028

 

165,837

2029

 

123,738

2030

 

78,895

2031

 

49,599

Thereafter

72,338

Total

$

793,351