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Servicing Investments (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, All Other Investments [Abstract] |
Schedule of Components of Servicing Investments and Components of Income From Servicing Investments, Net | Servicing Investments at September 30, 2025 and December 31, 2024 are summarized in the following table. Table 11.1 – Components of Servicing Investments
(In Thousands) |  | September 30, 2025 |  | December 31, 2024
Servicer advance investments, at fair value |  | $ | 221,656 |  |  | $ | 233,820 |
Excess MSRs, at fair value |  | 30,044 |  |  | 32,274 |
MSRs, at fair value |  | 30,556 |  |  | 31,589 |
Total Servicing Investments |  | $ | 282,256 |  |  | $ | 297,683 |
Strategic Investments at September 30, 2025 and December 31, 2024 are summarized in the following table. Table 12.1 – Components of Strategic Investments
(In Thousands) |  | September 30, 2025 |  | December 31, 2024
Strategic investments, equity method |  | $ | 43,580 |  |  | $ | 48,767 |
Strategic investments, measurement alternative |  | 25,756 |  |  | 25,896 |
Strategic investments, at fair value |  | 6,460 |  |  | 3,460 |
Other investments |  | 6,697 |  |  | — |
Total Strategic Investments |  | $ | 82,493 |  |  | $ | 78,123 |
Income from Strategic Investments for the three and nine months ended September 30, 2025 and 2024 are summarized in the following tables. Table 12.2 – Components of Income From Strategic Investments, net
|  | Three Months Ended September 30, |  |
(In Thousands) |  | 2025 |  | 2024 |  |
Other (loss) income, net (1) |  | $ | (1,172) |  |  | $ | (52) |  |  |
Investment fair value changes, net (2) |  | 1,512 |  |  | (236) |  |  |
Total Strategic Investments Income, Net |  | $ | 340 |  |  | $ | (288) |  |  |
|  | Nine Months Ended September 30, |  |
(In Thousands) |  | 2025 |  | 2024 |  |
Other income (loss), net (1) |  | $ | (203) |  |  | $ | (997) |  |  |
Investment fair value changes, net (2) |  | 1,300 |  |  | (1,036) |  |  |
Total Strategic Investments Income, Net |  | $ | 1,097 |  |  | $ | (2,033) |  |  |
(1)Represents net equity method earnings from our Strategic investments that are accounted for under the equity method. (2)Includes Investment fair value changes related to our Strategic investments that are accounted for under the measurement alternative for equity securities without readily determinable fair values. For the three and nine months ended September 30, 2025, includes Investment fair value earnings of $0.3 million and $1 million, respectively, under the measurement alternative. For the three and nine months ended September 30, 2024, we recognized net equity method losses of $0.2 million and $1 million, respectively, under the measurement alternative.

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