Securitizations and Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 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 September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Proceeds received from securitizations	$	282,507		$	687,502		$	998,204		$	2,711,651
Servicing fees collected	9,808			10,300			30,233			30,250
Purchases of previously transferred assets, net of claims reimbursed	(1,507		)	(1,234		)	(4,336		)	(3,958		)
	$	290,808		$	696,568		$	1,024,101		$	2,737,943

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:



	September 30, 2018		December 31, 2017
Carrying value of assets
MSRs, at fair value	$	111,586	$	227
MSRs, at amortized cost	—		97,832
Advances and match funded advances	61,500		57,636
UPB of loans transferred	11,118,533		12,077,635
Maximum exposure to loss	$	11,291,619	$	12,233,330

Schedule of Carrying Value of Assets and Liabilities of Consolidated Mortgage-backed Securitization Trusts

The table below presents the carrying value and classification of the assets and liabilities of two consolidated mortgage-backed securitization trusts included in our unaudited consolidated balance sheet at September 30, 2018 as a result of residual securities issued by the trust that we acquired during the third quarter of 2018.



Loans held for investment, at fair value - Restricted for securitization investors	$	28,373
Financing liability - Owed to securitization investors, at fair value	26,643