GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The following is a summary of goodwill by segment:

(in thousands)	Servicer and Real Estate		Origination		Corporate and Others		Total
Balance as of March 31, 2022 and December 31, 2021	$	30,681	$	25,279	$	—	$	55,960

We determined that each reportable segment represents a reporting unit. Goodwill was allocated to each reporting unit based on the relative fair value of each of our reporting units.

Intangible Assets, net

Intangible assets, net consist of the following:

	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization				Net book value
(in thousands)		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,307	$	(195,344)	$	(194,594)	$	18,963	$	19,713
Operating agreement	20	35,000		35,000		(21,292)		(20,854)		13,708		14,146
Trademarks and trade names	16	9,709		9,709		(6,805)		(6,709)		2,904		3,000
Total		$	259,016	$	259,016	$	(223,441)	$	(222,157)	$	35,575	$	36,859

Amortization expense for definite lived intangible assets was $1.3 million and $2.6 million for the three months ended March 31, 2022 and 2021, respectively. Forecasted annual definite lived intangible asset amortization expense for 2022 through 2026 is $5.1 million, $5.1 million, $5.1 million, $5.1 million and $4.9 million, respectively.