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SERVICER ADVANCE INVESTMENTS - Schedule of Additional Information Regarding the Servicer Advance Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023
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Investments in and Advances to Affiliates [Line Items] |  |
Outstanding Servicer Advances | $ 357,220 | $ 376,881
Face Amount of Secured Notes and Bonds Payable | 29,014,659 |
Servicer advance investments | Servicer Advances |  |
Investments in and Advances to Affiliates [Line Items] |  |
UPB of Underlying Residential Mortgage Loans | 13,974,237 | 15,499,559
Outstanding Servicer Advances | $ 302,282 | $ 320,630
Servicer Advances to UPB of Underlying Residential Mortgage Loans | 2.20% | 2.10%
Face Amount of Secured Notes and Bonds Payable | $ 262,069 | $ 278,845
Loan-to-value, gross | 84.70% | 84.10%
Loan-to-value, net | 82.50% | 81.90%
Cost of funds, gross | 7.30% | 7.50%
Cost of funds, net | 6.90% | 6.90%

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- Definition Carrying value of servicer advance investments as of the balance sheet date. Servicer advances are generally reimbursable cash payments made by a servicer when the borrower fails to make scheduled payments due on a mortgage loan or when the servicer makes cash payments (i) on behalf of a borrower for real estate taxes and insurance premiums on the property that have not been paid on a timely basis by the borrower and (ii) to third parties for the costs and expenses incurred in connection with the foreclosure, preservation and sale of the mortgage property, including attorneys' and other professional fees. + References No definition available. + Details
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