Securitizations and Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2019

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 June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Proceeds received from securitizations	$	195,973		$	338,199		$	438,933		$	715,698
Servicing fees collected	12,826			10,077			28,744			20,425
Purchases of previously transferred assets, net of claims reimbursed	(143		)	(659		)	(1,047		)	(2,829		)
	$	208,656		$	347,617		$	466,630		$	733,294

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 an estimate of our maximum exposure to loss including the UPB of the transferred loans:



	June 30, 2019		December 31, 2018
Carrying value of assets
MSRs, at fair value	$	101,582	$	132,774
Advances and match funded advances	124,796		138,679
UPB of loans transferred (1)	14,543,353		15,600,971
Maximum exposure to loss	$	14,769,731	$	15,872,424

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 sheets as a result of residual securities issued by the trust that we acquired during 2018.



	June 30, 2019		December 31, 2018
Loans held for investment, at fair value - Restricted for securitization investors	$	25,324	$	26,520
Financing liability - Owed to securitization investors, at fair value	23,697		24,815