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Residential Mortgage Servicing Rights
 3 Months Ended
Mar. 31, 2023
Transfers and Servicing [Abstract]  
Residential Mortgage Servicing Rights Residential Mortgage Servicing Rights
The Company measures its MSR asset at fair value with changes in fair value reported in residential mortgage banking revenue, net. The following table presents the changes in the Company's residential MSR for the three months ended March 31, 2023 and 2022: 
Three Months Ended
 (in thousands) March 31, 2023March 31, 2022
Balance, beginning of period$185,017 $123,615 
Additions for new MSR capitalized1,601 7,390 
Changes in fair value:  
Changes due to collection/realization of expected cash flows over time(4,881)(5,347)
Changes due to valuation inputs or assumptions (1)
(2,937)40,149 
Balance, end of period$178,800 $165,807 
(1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates.

Information related to the serviced loan portfolio as of March 31, 2023 and December 31, 2022 is as follows: 
(dollars in thousands)March 31, 2023December 31, 2022
Balance of loans serviced for others$12,914,046 $13,020,189 
MSR as a percentage of serviced loans1.38 %1.42 %
 
The amount of contractually specified servicing fees, late fees, and ancillary fees earned, which is recorded in residential mortgage banking revenue, was $9.4 million for the three months ended March 31, 2023, as compared to $9.1 million for the three months ended March 31, 2022.