MORTGAGE SERVICING RIGHTS - Summary of Actual Revenue Generated from Servicing Activities (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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Transfers and Servicing [Abstract] | ||||
Servicing fees from servicing portfolio | $ 59,410 | $ 53,368 | $ 118,390 | $ 104,932 |
Late fees | 1,619 | 1,368 | 3,287 | 2,883 |
Other ancillary servicing revenue and fees | (818) | (141) | (1,379) | (43) |
Loan servicing and other fees | $ 60,211 | $ 54,595 | $ 120,298 | $ 107,772 |
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- Definition Ancillary Fee Income (Expense) Generated by Servicing Financial Assets, Amount No definition available.
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- Definition All amounts that, per contract, are due to the servicer in exchange for servicing the financial asset and would no longer be received by a servicer if the beneficial owners of the serviced assets (or their trustees or agents) were to exercise their actual or potential authority under the contract to shift the servicing to another servicer. Depending on the servicing contract, those fees may include some or all of the difference between the interest rate collected on the asset being serviced and the rate to be paid to the beneficial owners of the asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of contractually specified servicing fee, late fee, and ancillary fee recognized as income for servicing asset and servicing liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition All amounts that are due to the servicer of a financial asset as a result of the debt holder not meeting the monthly payment terms. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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