Annual report [Section 13 and 15(d), not S-K Item 405]

Mortgage Servicing Rights, at Fair Value (Tables)

v3.25.0.1
Mortgage Servicing Rights, at Fair Value (Tables)
12 Months Ended
Dec. 31, 2024
Transfers and Servicing [Abstract]  
Summary of servicing portfolio and its activities
The servicing portfolio associated with capitalized servicing rights consists of the following (in thousands):
December 31, 2024 December 31, 2023
Fannie Mae/Freddie Mac $   $ 124,435 
Ginnie Mae   285 
Private investors   931,940 
Total UPB $   $ 1,056,660 
Weighted average interest rate N/A 3.71  %
The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of the following (in thousands):
For the year ended December 31, 2024 For the year ended December 31, 2023
Beginning UPB $ 1,056,660  $ 8,602,338 
Originated MSR   42,011 
Sales MSR (1,044,708) (7,416,568)
Payoffs MSR (4,925) (75,527)
Other (7,027) (95,594)
Ending UPB $   $ 1,056,660 
The activity in the MSR asset consisted of the following (in thousands):
For the year ended December 31, 2024 For the year ended December 31, 2023
Beginning balance $ 6,436  $ 95,096 
Originations   405 
Sales (5,516) (86,483)
Changes in fair value due to:
Changes in market inputs or assumptions used in valuation model (852) (1,014)
Changes in fair value due to portfolio runoff and other (68) (1,568)
Ending balance $   $ 6,436