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Servicing Investments (Tables)
 9 Months Ended
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, 2025December 31, 2024
Servicer advance investments, at fair value$221,656 $233,820 
Excess MSRs, at fair value30,044 32,274 
MSRs, at fair value30,556 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, 2025December 31, 2024
Strategic investments, equity method$43,580 $48,767 
Strategic investments, measurement alternative25,756 25,896 
Strategic investments, at fair value6,460 3,460 
Other investments6,697 — 
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)20252024
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)20252024
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.