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Other Investments (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, All Other Investments [Abstract] |
Summary of Other Investments | Other investments at June 30, 2019 and December 31, 2018 are summarized in the following table. Table 10.1 – Components of Other Investments
(In Thousands) |  | June 30, 2019 |  | December 31, 2018
Servicer advance investments |  | $ | 259,222 |  |  | $ | 300,468 |
Mortgage servicing rights |  | 47,396 |  |  | 60,281 |
Excess MSRs |  | 33,620 |  |  | 27,312 |
Investment in multifamily loan fund |  | 28,678 |  |  | — |
Other notes receivable |  | 3,214 |  |  | — |
Participation in loan warehouse facility |  | — |  |  | 39,703 |
Investment in 5 Arches |  | — |  |  | 10,754 |
Total Other Investments |  | $ | 372,130 |  |  | $ | 438,518 |
Components of Servicer Advance Investments | Components of Servicer Advance Receivables
(In Thousands) |  | June 30, 2019 |  | December 31, 2018
Principal and interest advances |  | $ | 91,707 |  |  | $ | 144,336 |
Escrow advances (taxes and insurance advances) |  | 95,071 |  |  | 94,828 |
Corporate advances |  | 49,854 |  |  | 47,614 |
Total Servicer Advance Receivables |  | $ | 236,632 |  |  | $ | 286,778 |
Income from Mortgage Servicing Rights, Net | Activity for MSRs
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In Thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Balance at beginning of period |  | $ | 55,284 |  |  | $ | 66,496 |  |  | $ | 60,281 |  |  | $ | 63,598 |
Additions |  | 764 |  |  | — |  |  | 868 |  |  | — |
Sales |  | — |  |  | (1,077 | ) |  | — |  |  | (1,077 | )
Changes in fair value due to: |  |  |  |  |  |  |  |
Changes in assumptions (1) |  | (6,555 | ) |  | 943 |  |  | (10,141 | ) |  | 5,289 |
Other changes (2) |  | (2,097 | ) |  | (1,688 | ) |  | (3,612 | ) |  | (3,136 | )
Balance at End of Period |  | $ | 47,396 |  |  | $ | 64,674 |  |  | $ | 47,396 |  |  | $ | 64,674 |
(1) | Primarily reflects changes in prepayment assumptions due to changes in market interest rates.
(2) | Represents changes due to the realization of expected cash flows.
The following table presents the components of our MSR income for the three and six months ended June 30, 2019 and 2018. Table 10.4 – Components of MSR Income, net
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In Thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Servicing income |  | $ | 3,850 |  |  | $ | 3,802 |  |  | $ | 7,460 |  |  | $ | 7,597 |
Cost of sub-servicer |  | (268 | ) |  | (338 | ) |  | (771 | ) |  | (930 | )
Net servicing fee income |  | 3,582 |  |  | 3,464 |  |  | 6,689 |  |  | 6,667 |
Market valuation changes of MSRs |  | (8,652 | ) |  | (745 | ) |  | (13,753 | ) |  | 2,147 |
Market valuation changes of associated derivatives |  | 6,517 |  |  | (1,122 | ) |  | 8,768 |  |  | (6,261 | )
MSR reversal of provision for repurchases |  | 207 |  |  | 277 |  |  | 207 |  |  | 277 |
MSR Income, Net (1) |  | $ | 1,654 |  |  | $ | 1,874 |  |  | $ | 1,911 |  |  | $ | 2,830 |
(1) MSR income, net is included in Other income, net on our consolidated statements of income.

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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746 + Details
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