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GOODWILL AND INTANGIBLE ASSETS, NET
9 Months Ended
Sep. 30, 2023
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 EstateOriginationCorporate and OthersTotal
Balance as of September 30, 2023 and December 31, 2022
$30,681 $25,279 $— $55,960 
Intangible Assets, net
Intangible assets, net consist of the following:
 
Weighted average estimated useful life
(in years)
Gross carrying amountAccumulated amortizationNet book value
(in thousands)September 30,
2023
December 31,
2022
September 30,
2023
December 31,
2022
September 30,
2023
December 31,
2022
Definite lived intangible assets:
Customer related intangible assets9$214,307 $214,307 $(199,915)$(197,594)$14,392 $16,713 
Operating agreement2035,000 35,000 (23,917)(22,604)11,083 12,396 
Trademarks and trade names169,709 9,709 (7,366)(7,088)2,343 2,621 
Total$259,016 $259,016 $(231,198)$(227,286)$27,818 $31,730 
Amortization expense for definite lived intangible assets was $3.9 million and $3.8 million for the nine months ended September 30, 2023 and 2022, respectively ($1.4 million and $1.3 million for the third quarter of 2023 and 2022, respectively).
Forecasted annual definite lived intangible asset amortization expense for 2023 through 2027 is $5.2 million, $5.1 million, $5.1 million, $4.9 million and $4.7 million, respectively.