GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 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 Estate		Origination		Corporate and Others		Total
Balance as of December 31, 2023 and 2022	$	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 as of December 31:

	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization				Net book value
(in thousands)		2023		2022		2023		2022		2023		2022
Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,307	$	(200,656)	$	(197,594)	$	13,651	$	16,713
Operating agreement	20	35,000		35,000		(24,354)		(22,604)		10,646		12,396
Trademarks and trade names	16	9,709		9,709		(7,458)		(7,088)		2,251		2,621
Total		$	259,016	$	259,016	$	(232,468)	$	(227,286)	$	26,548	$	31,730

Amortization expense for definite lived intangible assets was $5.2 million and $5.1 million for the years ended December 31, 2023 and 2022, respectively. Forecasted annual definite lived intangible asset amortization expense for 2024 through 2028 is $5.1 million, $5.1 million, $4.9 million, $4.7 million and $4.4 million, respectively.