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Securitizations and Variable Interest Entities (Tables)
 6 Months Ended
Jun. 30, 2020
Servicing Assets at Fair Value [Line Items]  
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 of loans accounted for as sales that were outstanding:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
2020
 
2019
 
2020
 
2019
Proceeds received from securitizations
$
1,071,252

 
$
195,973

 
$
1,891,253

 
$
438,933

Servicing fees collected (1)
10,391

 
12,826

 
22,643

 
28,744

Purchases of previously transferred assets, net of claims reimbursed
(1,669
)
 
(143
)
 
(4,277
)
 
(1,047
)
 
$
1,079,974

 
$
208,656

 
$
1,909,619

 
$
466,630


(1)
We receive servicing fees based upon the securitized loan balances and certain ancillary fees, all of which are reported in Servicing and subservicing fees in the unaudited consolidated statements of operations.
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, 2020
 
December 31, 2019
Carrying value of assets
 
 
 
MSRs, at fair value
$
104,967

 
$
109,581

Advances
167,262

 
141,829

UPB of loans transferred
17,531,932

 
14,490,984

Maximum exposure to loss
$
17,804,161

 
$
14,742,394
Schedule of Mortgage Servicing Rights Assets and Liabilities
The table below presents the carrying value and classification of the assets and liabilities of the PLS Notes facility:
 
June 30, 2020
 
December 31, 2019
MSRs pledged (MSRs, at fair value)
$
135,672

 
$
146,215

Debt service account (Restricted cash)
2,529

 
3,002

Outstanding borrowings (Other secured borrowings, net)
80,138

 
94,395

Unamortized debt issuance costs (Other secured borrowings, net)
(1,080
)
 
(1,208
)

The table below presents the carrying value and classification of the assets and liabilities of the Agency MSR financing facility:
 
June 30, 2020
 
December 31, 2019
MSRs pledged (MSRs, at fair value)
$
192,904

 
$
245,533

Unamortized debt issuance costs (Other assets)
2,270

 
946

Debt service account (Restricted cash)
101

 
100

Outstanding borrowings (Other secured borrowings, net)
105,070

 
147,706


As of June 30, 2020, the UPB of loans serviced on behalf of NRZ comprised the following:
Ocwen servicer of record (MSR title retained by Ocwen) - Ocwen MSR (1)
$
17,424,584

NRZ servicer of record (MSR title transferred to NRZ) - Ocwen MSR (1)
91,419,371

Ocwen subservicer
176,805

Total NRZ UPB at June 30, 2020
$
109,020,760
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 consolidated mortgage-backed securitization trusts included in our unaudited consolidated balance sheets as a result of residual securities we acquired which were issued by the trusts.
 
June 30, 2020
 
December 31, 2019
Loans held for investment, at fair value - Restricted for securitization investors
$
11,664

 
$
23,342

Financing liability - Owed to securitization investors, at fair value
11,664

 
22,002