Capitalized Mortgage Servicing Rights (Tables)

9 Months Ended

Sep. 30, 2023

Transfers and Servicing [Abstract]

Summary of Capitalized MSR Activity

A summary of our capitalized MSR activity is as follows (in thousands):

	Three Months Ended September 30, 2023						Nine Months Ended September 30, 2023
	Originated		Acquired		Total		Originated		Acquired		Total
Beginning balance	$	383,267	$	11,143	$	394,410	$	386,878	$	14,593	$	401,471
Additions	16,550		—		16,550		49,416		—		49,416
Amortization	(14,988)		(912)		(15,900)		(43,866)		(3,054)		(46,920)
Write-downs and payoffs	(2,400)		(457)		(2,857)		(9,999)		(1,765)		(11,764)
Ending balance	$	382,429	$	9,774	$	392,203	$	382,429	$	9,774	$	392,203
	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
Beginning balance	$	391,397	$	20,137	$	411,534	$	395,573	$	27,161	$	422,734
Additions	18,907		—		18,907		63,002		—		63,002
Amortization	(13,355)		(1,427)		(14,782)		(39,348)		(5,184)		(44,532)
Write-downs and payoffs	(9,957)		(1,816)		(11,773)		(32,235)		(5,083)		(37,318)
Ending balance	$	386,992	$	16,894	$	403,886	$	386,992	$	16,894	$	403,886

Summary of Expected Amortization of Capitalized MSRs

The expected amortization of capitalized MSRs recorded at September 30, 2023 is as follows (in thousands):

Year	Amortization
2023 (three months ending 12/31/2023)	$	16,169
2024	63,855
2025	60,481
2026	54,479
2027	49,654
2028	43,110
Thereafter	104,455
Total	$	392,203