GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023	$	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 amount				Accumulated amortization				Net book value
(in thousands)		March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Definite lived intangible assets:
Customer related intangible assets	9	$	214,307	$	214,307	$	(201,396)	$	(200,656)	$	12,911	$	13,651
Operating agreement	20	35,000		35,000		(24,792)		(24,354)		10,208		10,646
Trademarks and trade names	16	9,709		9,709		(7,550)		(7,458)		2,159		2,251
Total		$	259,016	$	259,016	$	(233,738)	$	(232,468)	$	25,278	$	26,548

Amortization expense for definite lived intangible assets was $1.3 million and $1.3 million for the three months ended March 31, 2024 and 2023, 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.