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MORTGAGE SERVICING RIGHTS (Tables)
 9 Months Ended
Sep. 30, 2021
Transfers and Servicing [Abstract]  
Presentation of Activity Related to MSR
The following tables presents activity related to MSR and Interests in MSR for the three and nine months ended September 30, 2021 and 2020:  
 Mortgage Servicing RightsThree Months EndedNine Months Ended
September 30, 2021September 30, 2020September 30, 2021September 30, 2020
 (dollars in thousands)
Fair value, beginning of period$202,616 $227,400 $100,895 $378,078 
Purchases (1)
312,327 — 411,309 — 
Sales— — (376)— 
Change in fair value due to:
Changes in valuation inputs or assumptions (2)
76,107 7,633 108,403 (99,220)
Other changes, including realization of expected cash flows(18,791)(27,048)(47,972)(70,873)
Fair value, end of period$572,259 $207,985 $572,259 $207,985 
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.
(2) Principally represents changes in discount rates and prepayment speed inputs used in valuation model, primarily due to changes in interest rates.
Interests in MSRThree Months EndedNine Months Ended
September 30, 2021September 30, 2021
(dollars in thousands)
Beginning balance$49,035 $— 
Purchases (1)
5,936 53,034 
Gain (loss) included in net income2,559 4,496 
Ending balance September 30, 2021
$57,530 $57,530 
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.