Securitizations and Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Cash Flows Related to Transfers Accounted for as Sales

The following table presents a summary of cash flows received from and paid to securitization trusts related to transfers accounted for as sales that were outstanding:



	Three Months Ended March 31,
	2018			2017
Proceeds received from securitizations	$	377,499		$	1,001,997
Servicing fees collected	10,348			10,108
Purchases of previously transferred assets, net of claims reimbursed	(2,170		)	(987		)
	$	385,677		$	1,011,118

Schedule of Assets That Relate to Continuing Involvement with Transferred Financial Assets with Servicing Rights and Maximum Exposure to Loss Including the Unpaid Principal Balance

The following table presents the carrying amounts of our assets that relate to our continuing involvement with forward loans that we have transferred with servicing rights retained as well as our maximum exposure to loss including the unpaid principal balance (UPB) of the transferred loans:



	March 31, 2018		December 31, 2017
Carrying value of assets
MSRs, at fair value	$	113,713	$	227
MSRs, at amortized cost	—		97,832
Advances and match funded advances	61,371		57,636
UPB of loans transferred	11,292,792		12,077,635
Maximum exposure to loss	$	11,467,876	$	12,233,330